Victorian Duplex with
For Sale
$499,000
412 Park, Butte, MT 59701
Two residential units are offered within a single lot, including a separate fenced yard and an adjoining vacant lot.
Property Size4,362 SF
Price / SF$114.40
Days on Market58
Property Features for 412 Park
General Information
Standard status
Active
Size
4,362 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$3,395
Amenities
Garage Spaces: 6
Style: Victorian
Victorian
6
Building Details
Year Built
1910
Listing Agency:
Coldwell Banker Markovich RE
(406) 494-3901
Listed By:
Sheri M Broudy · License #99201
Source:
Clearwaterproperties
Added: Jul 4
Changed: Aug 28
Last Checked: Aug 28 at 12:51PM
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 Coldwell Banker Markovich RE
Investment Insights
Based on property information with market context.
This Victorian-style duplex offers two dwelling units on one lot. The main unit at 412 includes original interior features such as light fixtures and built-ins in the formal living and dining areas, a kitchen with maple cabinets and formica counters, and a back porch with vintage fir bead board. Bedrooms include multiple main-floor options, with a “jack & jill” bathroom arrangement, plus additional bedrooms upstairs. The property also features a finished basement and a half bath in the living space, along with access to the garage.
Unit 2 includes approximately 2 bedrooms and 1 bathroom, with a main floor living and dining area and a retro kitchen that provides access to a back deck and an “amazing” courtyard. A narrow staircase leads to the upstairs bedrooms and bath. A private yard on the west side is included for occupant use, and an adjoining vacant lot to the west is included as well; both are described as privacy fenced and planted with turf.
For parking and storage, the property includes 7 additional garage spaces with cement floors and overhead doors.
Unit 2 includes approximately 2 bedrooms and 1 bathroom, with a main floor living and dining area and a retro kitchen that provides access to a back deck and an “amazing” courtyard. A narrow staircase leads to the upstairs bedrooms and bath. A private yard on the west side is included for occupant use, and an adjoining vacant lot to the west is included as well; both are described as privacy fenced and planted with turf.
For parking and storage, the property includes 7 additional garage spaces with cement floors and overhead doors.
Key Highlights
- Two buildings on one lot offer duplex‑style living with unit #2 featuring 2 bedrooms and 1 bath in 1,216 sq ft
- Victorian main home built in 1910 with 3,146 sq ft, original light fixtures, and original living/dining room features plus dining room built‑ins
- Finished basement offers added flexible space, plus a half bath in the main living area
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$29,074
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.83%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$581,480
$581.5K
Cap Rate 7%
$415,343
$415.3K
Cap Rate 9%
$323,044
$323.0K
Market Conditions
NOI Build-Up for 4,362 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$44.5K $10.20/SF
− Vacancy
−$3.0K −$0.68/SF
EGI
$41.5K $9.52/SF
− OpEx
−$12.5K −$2.86/SF
NOI
$29.1K $6.67/SF
Area
Silver Bow County, MT
Vacancy
6.65%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$581,480
Cap Rate 7%
$415,343
Cap Rate 9%
$323,044
Alternative Uses
Best Use
Multifamily LT 5
$415.3K
$363.4K – $484.6K
NOI $29,074 @ 7.0% cap · market cap 5.83%
Second Best
Apartment 5plus
$382.5K
$334.7K – $446.2K
NOI $26,774 @ 7.0% cap · market cap 5.37%
Theoretical Best
Office A
$950.7K
$831.8K – $1.11M
NOI $66,546 @ 7.0% cap · market cap 13.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,353
Businesses Nearby
Explore this area
Business Placement
Demographics for 59701, MT
33,937
Population
16,834
Households
2
Avg Household Size
42
Median Age
27%
College-Educated
94%
High-School Grad
509.7 sq mi
ZIP Area
67
Density / Sq Mi
$56,799
Median Household Income
$34,793
Median Earnings
$811
Median Rent
$219,200
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units are offered within a single lot, including a separate fenced yard and an adjoining vacant lot.
Where is this duplex located?
The property is located at 412 Park Butte, MT.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Two buildings on one lot offer duplex‑style living with unit #2 featuring 2 bedrooms and 1 bath in 1,216 sq ft; Victorian main home built in 1910 with 3,146 sq ft, original light fixtures, and original living/dining room features plus dining room built‑ins; Finished basement offers added flexible space, plus a half bath in the main living area
