Victorian
For Sale
$675,000
407 Madison, Helena, MT 59601
Four separately metered units support rental operations or an owner-occupant configuration.
Property Size3,500 SF
Price / SF$192.86
Days on Market46
Property Features for 407 Madison
General Information
Standard status
Active
Size
3,500 SF
Property subtype
Multi Family Home
Additional Details
Utilities to Site
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$4,039
Amenities
off-street parking
Garage Spaces: 0
Building Details
Year Built
1880
Buildings
1
Construction
Victorian
Listing Agency:
Keller Williams Capital Realty
Listed By:
Jeff Barber · License #RRE-BRO-LIC-109439
(406) 422-6647
Source:
Clearwaterproperties
Added: Aug 22
Changed: Oct 6
Last Checked: Oct 5 at 9:44PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Capital Realty
Investment Insights
Based on property information with market context.
Built in 1880, this classic Victorian property has been converted into a fourplex totaling 3,500 square feet. The configuration supports leasing all four units or combining two units for an owner’s residence while retaining two rental units. Each unit has separate metering, while the owner covers water service.
The property is located in Helena’s Mansion District, minutes from downtown shopping, dining, entertainment, and trails. Off-street parking is available at the rear, and the lot is described as offering potential for future infill development. Rental history includes a tenant who has remained for more than a decade, providing a documented record of long-term occupancy.
The property is located in Helena’s Mansion District, minutes from downtown shopping, dining, entertainment, and trails. Off-street parking is available at the rear, and the lot is described as offering potential for future infill development. Rental history includes a tenant who has remained for more than a decade, providing a documented record of long-term occupancy.
Key Highlights
- Fourplex configuration with 4 residential units
- 3,500 square feet in a Victorian property built in 1880
- Each unit is separately metered; owner covers water service
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,612
Cap Rate
4.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$632,240
$632.2K
Cap Rate 7%
$451,600
$451.6K
Cap Rate 9%
$351,244
$351.2K
Market Conditions
NOI Build-Up for 3,500 SF
Gross rent
$48.3K $13.80/SF
− Vacancy
−$3.1K −$0.90/SF
EGI
$45.2K $12.90/SF
− OpEx
−$13.5K −$3.87/SF
NOI
$31.6K $9.03/SF
Area
Lewis and Clark County, MT
Vacancy
6.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$632,240
Cap Rate 7%
$451,600
Cap Rate 9%
$351,244
Alternative Uses
Best Use
Multifamily LT 5
$451.6K
$395.2K – $526.9K
NOI $31,612 @ 7.0% cap · market cap 4.68%
Second Best
Apartment 5plus
$423.2K
$370.3K – $493.8K
NOI $29,626 @ 7.0% cap · market cap 4.39%
Theoretical Best
Office A
$760.3K
$665.3K – $887.0K
NOI $53,222 @ 7.0% cap · market cap 7.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,827
Businesses Nearby
Explore this area
Business Placement
Demographics for 59601, MT
30,848
Population
15,937
Households
1.9
Avg Household Size
41
Median Age
51%
College-Educated
96%
High-School Grad
130.2 sq mi
ZIP Area
237
Density / Sq Mi
$70,502
Median Household Income
$44,000
Median Earnings
$1,023
Median Rent
$355,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four separately metered units support rental operations or an owner-occupant configuration.
Where is this quadplex located?
The property is located at 407 Madison Helena, MT.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Fourplex configuration with 4 residential units; 3,500 square feet in a Victorian property built in 1880; Each unit is separately metered; owner covers water service
