Two-Level Duplex Income
For Sale
$589,000
423 S Main Street, Three Forks, MT 59752
Two separate living levels with kitchens, gas stoves, and multiple bedrooms, previously rented as separate units.
Property Size1,972 SF
Price / SF$298.68
Days on Market102
Property Features for 423 S Main Street
General Information
Standard status
Active
Size
1,972 SF
Zoning
CBD
Building Details
Building Size
1,972 SF
Year Built
1946
Listing Agency:
AmeriMont Real Estate
Listed By:
Nancy Clark · License #BRO-63331
(406) 579-9190
Source:
Purewestrealestate
Added: Jul 15
Changed: Oct 16
Last Checked: Oct 23 at 3:19AM
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 AmeriMont Real Estate
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Investment Insights
Based on property information with market context.
This two-level duplex-style property features a total of approximately 1,972 SF, with two self-contained living areas. The upper level is approximately 1,000± SF and includes three bedrooms, one full bathroom, a spacious living room with a gas stove, and a large kitchen. The lower level is approximately 1,000± SF and includes two bedrooms, one bathroom, a full kitchen, dining area, gas stove, and washer and dryer.
The home is connected to city water and city sewer and is not located in the floodplain. The property has a charming front porch with real wood accents and timeless brick details.
The upper and lower levels were previously rented separately, supporting a proven rental history. Two newer water heaters provide hot water for multiple tenants. The layout also offers the ability to add a stackable washer and dryer upstairs, and the lower level could be modified to include its own private entrance to create two independent living units. There is potential to add an additional third rental unit or building subject to City approval.
The home is connected to city water and city sewer and is not located in the floodplain. The property has a charming front porch with real wood accents and timeless brick details.
The upper and lower levels were previously rented separately, supporting a proven rental history. Two newer water heaters provide hot water for multiple tenants. The layout also offers the ability to add a stackable washer and dryer upstairs, and the lower level could be modified to include its own private entrance to create two independent living units. There is potential to add an additional third rental unit or building subject to City approval.
Key Highlights
- Two separate living levels, each with a kitchen, gas stove, and multiple bedrooms—previously rented separately with a proven rental history.
- Approximately 1,000± SF upper level: 3 bedrooms, 1 full bathroom, spacious living room with gas stove, and large kitchen.
- Approximately 1,000± SF lower level: 2 bedrooms, 1 bathroom, full kitchen, dining area, gas stove, and washer and dryer.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,228
Cap Rate
3.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$444,560
$444.6K
Cap Rate 7%
$317,543
$317.5K
Cap Rate 9%
$246,978
$247.0K
Market Conditions
NOI Build-Up for 1,972 SF
Gross rent
$33.6K $17.04/SF
− Vacancy
−$1.8K −$0.94/SF
EGI
$31.8K $16.10/SF
− OpEx
−$9.5K −$4.83/SF
NOI
$22.2K $11.27/SF
Area
Gallatin County, MT
Vacancy
5.50%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$444,560
Cap Rate 7%
$317,543
Cap Rate 9%
$246,978
Alternative Uses
Best Use
Multifamily LT 5
$317.5K
$277.9K – $370.5K
NOI $22,228 @ 7.0% cap · market cap 3.77%
Second Best
Apartment 5plus
$295.0K
$258.1K – $344.2K
NOI $20,649 @ 7.0% cap · market cap 3.51%
Theoretical Best
Office A
$514.9K
$450.6K – $600.8K
NOI $36,045 @ 7.0% cap · market cap 6.12%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
224
Businesses Nearby
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Demographics for 59752, MT
4,535
Population
2,101
Households
2.2
Avg Household Size
40
Median Age
26%
College-Educated
97%
High-School Grad
403.7 sq mi
ZIP Area
11
Density / Sq Mi
$82,228
Median Household Income
$46,573
Median Earnings
$1,218
Median Rent
$426,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate living levels with kitchens, gas stoves, and multiple bedrooms, previously rented as separate units.
Where is this duplex located?
The property is located at 423 S Main Street Three Forks, MT.
What is the asking price?
The asking price for this property is $589,000.
What are key features of this property?
This property features: Two separate living levels, each with a kitchen, gas stove, and multiple bedrooms—previously rented separately with a proven rental history.; Approximately 1,000± SF upper level: 3 bedrooms, 1 full bathroom, spacious living room with gas stove, and large kitchen.; Approximately 1,000± SF lower level: 2 bedrooms, 1 bathroom, full kitchen, dining area, gas stove, and washer and dryer.
