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    Two Homes on Large Lot Title is generated by Realmo AI

    508 & 510 W 1st Avenue, Boulder, MT 59632

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    For Sale
    $433,900

    MULTI_FAMILY - Boulder, MT

    Property size:
    1,836 SF
    Lot size:
    0.59 Acres
    Price / SF:
    $236/SF
    Added:
    Oct 24, 2025
    Days on Market:
    210
    Last Refresh:
    May 21 at 12:06 pm

    Property Features for 508 & 510 W 1st Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Rooms
    Basement, Laundry Room
    Interior features
    MainLevelPrimary
    Appliances
    Dishwasher, Microwave, Range, Refrigerator
    Standard status
    Active
    APN
    51149029422020000
    Size
    1,836 SF
    Lot size
    0.59 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    BOULDER ORIGINAL TOWNSITE, S29, T06 N, R04 W, BLOCK 33, Lot A4-A, 25464 SQUARE FEET, COS 264487, F1054A
    Tax Annual Amount
    943

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air, Natural Gas
    Water source
    Public

    Building Details

    Year built
    2000
    Number of units
    2

    We can help!

    Listing Contact
    Steve Youde

    Listing agent Steve Youde License #RRE-BRO-LIC-79529

    Listing office Keller Williams Capital Realty 130 Neill Ave, Helena, MT

    Listing date Oct 24, 2025

    MLS# 30060267 Listing URL

    Copyright © 2026 Montana Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Two homes on a 0.585‑acre property: main house (3 bed, 2 bath, 1,836 sq. ft.) and tenant‑occupied mobile home (3 bed, 1 bath) for immediate income.
    • Income potential from a reliable renter in the tenant‑occupied mobile home.
    • Main house features: Spacious master suite, new flooring in kitchen/master bath/bedroom, and abundant natural light.
    • Upgraded second home: New membrane roof, new carpet, and new deck.
    • Oversized detached 2‑car garage: Ample parking and storage.
    • Potential for expansion: Additional electrical & water connection for a possible 3rd home.

    Overview

    This 0.585-acre property in Boulder, MT, includes two homes. The main house offers 1,836 sq. ft. of living space, featuring 3 bedrooms and 2 bathrooms, including a spacious master suite. Recent upgrades include new flooring in the kitchen, master bathroom, and bedroom. The home features a spacious kitchen and a large, fenced yard. The second home is a tenant-occupied 3-bedroom, 1-bath mobile home, presenting immediate income potential. Upgrades to this home include a new membrane roof, new carpet, and a new deck. A detached, oversized 2-car garage provides parking and storage space. An additional electrical and water connection allows for the possibility of adding a third home.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Map

    City
    Boulder
    County
    Jefferson
    State
    Montana
    Longitude
    -112.125894
    Latitude
    46.239613

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    FAQs

    What type of property is this?
    Duplex - Two homes with income potential on a 0.585-acre lot.
    Where is this duplex located?
    The property is located at 508 & 510 W 1st Avenue Boulder, MT.
    What is the asking price?
    The asking price for this property is $433,900.
    What are key features of this property?
    This property features: Two homes on a 0.585‑acre property: main house (3 bed, 2 bath, 1,836 sq. ft.) and tenant‑occupied mobile home (3 bed, 1 bath) for immediate income.; Income potential from a reliable renter in the tenant‑occupied mobile home.; Main house features: **Spacious master suite, new flooring in kitchen/master bath/bedroom, and abundant natural light.**
    (406) 439-5234
    We can help!
    Listing Contact
    Steve Youde
    Real Estate License ID: RRE-BRO-LIC-79529
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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