Two-Unit Ranch
New
For Sale
$428,000
4638 & 4640 Murphy Avenue, Billings, MT 59101
Residential, Billings, MT
Property Size2,504 SF
Lot Size0.26 Acres
Price / SF$170.93
Days on Market2
Property Features for 4638 & 4640 Murphy Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
NX2 - Mixed Residential 2
Bedrooms
4
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 2, Bathroom 1, Bedroom 3, Bathroom 2, Bedroom 4
Subdivision
Pinnick Subdivision
Lot features
Level
Elementary school
Newman
Middle school
Riverside
High school
West
Standard status
Active
APN
A20196
Size
2,504 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Description
PINNICK SUBD 3RD FILING, S09, T01 S, R26 E, BLOCK 5, Lot 1A, AMND N 110 FT OF LT 1
Tax Annual Amount
2255
Legal Description
PINNICK SUBD 3RD FILING, S09, T01 S, R26 E, BLOCK 5, Lot 1A, AMND N 110 FT OF LT 1
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Water source
Public
Amenities
fenced backyards
private front patios
Building Details
Year built
1984
Floors in Building
1
Number of units
2
Building materials
Masonite
Roof type
Shingle, Asphalt
Architectural style
Ranch
Listing Agency:
Western Skies Real Estate
(406) 591-5889
Listed By:
Lori Ludwig · License #RRE-RBS-LIC-70471
(406) 860-7943
Added: Oct 16
Last Checked: Oct 17 at 2:06AM
MLS# 362395
Copyright © 2026 Billings Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This side-by-side duplex contains 2,504 square feet across two ranch-style residences, built in 1984. Each unit has two bedrooms, one bathroom, an open kitchen and dining area, and an attached double-car garage. Fenced backyards and private front patios provide separate outdoor space for each residence, and appliances are included. The property occupies 0.2638 acres.
One unit is vacant, while the other is rented through Rainbow Property Management. Tenants handle gas and electric service, lawn care, and snow removal. A CAM fee covers water, sewer, and garbage. Public water and sewer serve the property.
One unit is vacant, while the other is rented through Rainbow Property Management. Tenants handle gas and electric service, lawn care, and snow removal. A CAM fee covers water, sewer, and garbage. Public water and sewer serve the property.
Key Highlights
- Two side‑by‑side residences, each with 2 bedrooms and 1 bathroom
- 2,504 square feet on a 0.2638‑acre parcel
- Attached double‑car garage for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,858
Cap Rate
5.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$457,160
$457.2K
Cap Rate 7%
$326,543
$326.5K
Cap Rate 9%
$253,978
$254.0K
Market Conditions
NOI Build-Up for 2,504 SF
Gross rent
$34.6K $13.80/SF
− Vacancy
−$1.9K −$0.76/SF
EGI
$32.7K $13.04/SF
− OpEx
−$9.8K −$3.91/SF
NOI
$22.9K $9.13/SF
Area
Billings, MT
Vacancy
5.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$457,160
Cap Rate 7%
$326,543
Cap Rate 9%
$253,978
Alternative Uses
Best Use
Multifamily LT 5
$326.5K
$285.7K – $381.0K
NOI $22,858 @ 7.0% cap · market cap 5.34%
Second Best
Apartment 5plus
$302.8K
$264.9K – $353.3K
NOI $21,195 @ 7.0% cap · market cap 4.95%
Theoretical Best
Office A
$546.4K
$478.1K – $637.4K
NOI $38,245 @ 7.0% cap · market cap 8.94%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
296
Businesses Nearby
Explore this area
Business Placement
Demographics for 59101, MT
41,522
Population
18,864
Households
2.2
Avg Household Size
37
Median Age
22%
College-Educated
91%
High-School Grad
590.8 sq mi
ZIP Area
70
Density / Sq Mi
$58,165
Median Household Income
$36,258
Median Earnings
$930
Median Rent
$243,000
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
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has two bedrooms, an attached double garage, and a fenced backyard with a private patio.
Where is this duplex located?
The property is located at 4638 & 4640 Murphy Avenue Billings, MT.
What is the asking price?
The asking price for this property is $428,000.
What are key features of this property?
This property features: Two side‑by‑side residences, each with 2 bedrooms and 1 bathroom; 2,504 square feet on a 0.2638‑acre parcel; Attached double‑car garage for each unit
