Craftsman Duplex with
For Sale
$225,000
Pending
508 Platinum, Butte, MT 59701
Timeless Craftsman duplex offers a one-bedroom unit and a studio, with on-site laundry and added storage.
Property Size1,205 SF
Days on Market39
Property Features for 508 Platinum
General Information
Standard status
Pending
Size
1,205 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,200
Amenities
Garage Spaces: 0
Building Details
Year Built
1915
Listing Agency:
Century 21 Shea Realty - Butte
(406) 490-7432
Listed By:
Gary W Shea · License #10976
Source:
Clearwaterproperties
Added: Jul 4
Changed: Aug 8
Last Checked: Aug 11 at 10:00AM
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 Century 21 Shea Realty - Butte
Investment Insights
Based on property information with market context.
This well-maintained Craftsman-style duplex provides two distinct living options. Unit 508 is configured as a comfortable one-bedroom layout, while Unit 510 offers a cozy studio floor plan. The property includes convenient on-site laundry and abundant storage space. There is also room to add a garage, which can support future flexibility for an owner-occupant or rental setup.
The duplex is located at 508 W Platinum Street in Butte, Montana, under a residential income property profile. The asset is positioned for straightforward day-to-day management with its two-unit configuration and practical on-site amenities.
For buyers seeking rental flexibility, the mix of a one-bedroom unit and a studio can support a range of household needs. For an owner-occupant, having a self-contained second unit alongside in-building laundry and storage can help streamline occupancy while keeping options open. The added storage and space to add a garage further enhance the property’s usefulness over time.
The duplex is located at 508 W Platinum Street in Butte, Montana, under a residential income property profile. The asset is positioned for straightforward day-to-day management with its two-unit configuration and practical on-site amenities.
For buyers seeking rental flexibility, the mix of a one-bedroom unit and a studio can support a range of household needs. For an owner-occupant, having a self-contained second unit alongside in-building laundry and storage can help streamline occupancy while keeping options open. The added storage and space to add a garage further enhance the property’s usefulness over time.
Key Highlights
- Craftsman‑style duplex built in 1915 with two rental units
- Unit 508 features a one‑bedroom layout
- Unit 510 is a studio unit
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
$8,032
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
3.57%
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%
$160,640
$160.6K
Cap Rate 7%
$114,743
$114.7K
Cap Rate 9%
$89,244
$89.2K
Market Conditions
NOI Build-Up for 1,205 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
$12.3K $10.20/SF
− Vacancy
−$817 −$0.68/SF
EGI
$11.5K $9.52/SF
− OpEx
−$3.4K −$2.86/SF
NOI
$8.0K $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%
$160,640
Cap Rate 7%
$114,743
Cap Rate 9%
$89,244
Alternative Uses
Best Use
Multifamily LT 5
$114.7K
$100.4K – $133.9K
NOI $8,032 @ 7.0% cap · market cap 3.57%
Second Best
Apartment 5plus
$105.7K
$92.5K – $123.3K
NOI $7,396 @ 7.0% cap · market cap 3.29%
Theoretical Best
Office A
$262.6K
$229.8K – $306.4K
NOI $18,383 @ 7.0% cap · market cap 8.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,537
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
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Frequently Asked Questions
What type of property is this?
Duplex - Timeless Craftsman duplex offers a one-bedroom unit and a studio, with on-site laundry and added storage.
Where is this duplex located?
The property is located at 508 Platinum Butte, MT.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Craftsman‑style duplex built in 1915 with two rental units; Unit 508 features a one‑bedroom layout; Unit 510 is a studio unit
