Brick Duplex with Two One-Bedroom
For Sale
$235,000
510 W Park St, Butte, MT 59701
Up-down duplex with recent upgrades, one occupied unit, and a vacant second-floor residence.
Property Size1,561 SF
Price / SF$150.54
Days on Market19
Property Features for 510 W Park St
General Information
Standard status
Active
Size
1,561 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Building Details
Year Built
1890
Buildings
1
Stories
2
Construction
Brick
Tenancy
Single
Listing Agency:
Engel & Volkers - Butte
Listed By:
Jason Silvernale · License #RRE-RBS-LIC-98180
(406) 450-8043
Source:
Westmontanahomes
Added: Sep 9
Changed: Sep 23
Last Checked: Sep 26 at 7:36AM
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 Engel & Volkers - Butte
Investment Insights
Based on property information with market context.
Located at 510 W Park St in Butte, this 1,561-square-foot brick duplex was built in 1890 and includes two one-bedroom, one-bathroom units arranged in an up-down configuration. The property has received modern upgrades, with a tenant occupying the main-level unit and the second-floor unit currently vacant.
The layout supports both an owner-occupant strategy and continued use as a two-unit rental property. Montana Tech and St James/Intermountain Health are in close proximity, adding established institutional destinations near the property. The vacant upper unit provides flexibility for a new owner to occupy or update it for future rental use.
The layout supports both an owner-occupant strategy and continued use as a two-unit rental property. Montana Tech and St James/Intermountain Health are in close proximity, adding established institutional destinations near the property. The vacant upper unit provides flexibility for a new owner to occupy or update it for future rental use.
Key Highlights
- Two one‑bedroom, one‑bathroom units in an up‑down layout
- 1,561‑square‑foot brick duplex
- Built in 1890
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
$10,404
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
4.43%
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%
$208,080
$208.1K
Cap Rate 7%
$148,629
$148.6K
Cap Rate 9%
$115,600
$115.6K
Market Conditions
NOI Build-Up for 1,561 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
$15.9K $10.20/SF
− Vacancy
−$1.1K −$0.68/SF
EGI
$14.9K $9.52/SF
− OpEx
−$4.5K −$2.86/SF
NOI
$10.4K $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%
$208,080
Cap Rate 7%
$148,629
Cap Rate 9%
$115,600
Alternative Uses
Best Use
Multifamily LT 5
$148.6K
$130.1K – $173.4K
NOI $10,404 @ 7.0% cap · market cap 4.43%
Second Best
Apartment 5plus
$136.9K
$119.8K – $159.7K
NOI $9,581 @ 7.0% cap · market cap 4.08%
Theoretical Best
Office A
$340.2K
$297.7K – $396.9K
NOI $23,814 @ 7.0% cap · market cap 10.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Up-down duplex with recent upgrades, one occupied unit, and a vacant second-floor residence.
Where is this duplex located?
The property is located at 510 W Park St Butte, MT.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: Two one‑bedroom, one‑bathroom units in an up‑down layout; 1,561‑square‑foot brick duplex; Built in 1890
