Duplex with Fenced
For Sale
$599,000
528 5th, Missoula, MT 59801
Duplex offering separate living spaces, ample off-street parking, and a fenced yard near local amenities.
Property Size2,263 SF
Price / SF$264.69
Days on Market71
Property Features for 528 5th
General Information
Standard status
Active
Size
2,263 SF
Property subtype
Duplex
Additional Details
Fenced Yard
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,129
Amenities
Garage Spaces: 0
Building Details
Year Built
1920
Listing Agency:
Clark Fork Realty
Listed By:
Matt Rosbarsky · License #7065
Source:
Clearwaterproperties
Added: Jun 15
Changed: Aug 24
Last Checked: Aug 24 at 3:06AM
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 Clark Fork Realty
Investment Insights
Based on property information with market context.
This duplex includes two residential units with distinct living layouts. The upstairs unit features a deck and ample space suited for studio-style living. The main floor apartment offers a large kitchen and living room along with three bedrooms. The property is set up with a classic duplex configuration, plus a large fenced yard and ample off-street parking.
The property is located close to the University of Montana, downtown, and shopping, putting daily conveniences within reach.
This setup can fit owner-occupants looking to live in one unit while renting the other, or investors seeking a multifamily property with two separate apartments. The combination of interior space, outdoor yard area, and off-street parking supports a practical residential use for a variety of tenants.
The property is located close to the University of Montana, downtown, and shopping, putting daily conveniences within reach.
This setup can fit owner-occupants looking to live in one unit while renting the other, or investors seeking a multifamily property with two separate apartments. The combination of interior space, outdoor yard area, and off-street parking supports a practical residential use for a variety of tenants.
Key Highlights
- 1920‑built duplex with separate living spaces
- Upstairs unit includes a deck and ample space for a studio
- Main‑floor apartment features a large kitchen and living room plus 3 bedrooms
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
$24,158
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
4.03%
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%
$483,160
$483.2K
Cap Rate 7%
$345,114
$345.1K
Cap Rate 9%
$268,422
$268.4K
Market Conditions
NOI Build-Up for 2,263 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
$47.8K $21.12/SF
− Vacancy
−$3.9K −$1.71/SF
EGI
$43.9K $19.41/SF
− OpEx
−$19.8K −$8.73/SF
NOI
$24.2K $10.68/SF
Area
Missoula County, MT
Vacancy
8.10%
Lease Rate
$21.12 /SF/Yr
Expense Ratio
45.00%
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%
$483,160
Cap Rate 7%
$345,114
Cap Rate 9%
$268,422
Alternative Uses
Best Use
Apartment 5plus
$345.1K
$302.0K – $402.6K
NOI $24,158 @ 7.0% cap · market cap 4.03%
Second Best
Multifamily LT 5
$323.5K
$283.1K – $377.4K
NOI $22,645 @ 7.0% cap · market cap 3.78%
Theoretical Best
Specialty Retail
$652.5K
$570.9K – $761.2K
NOI $45,673 @ 7.0% cap · market cap 7.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,963
Businesses Nearby
Explore this area
Business Placement
Demographics for 59801, MT
30,629
Population
15,814
Households
1.9
Avg Household Size
34
Median Age
51%
College-Educated
97%
High-School Grad
7.7 sq mi
ZIP Area
3,978
Density / Sq Mi
$55,022
Median Household Income
$34,320
Median Earnings
$1,086
Median Rent
$393,400
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 - Duplex offering separate living spaces, ample off-street parking, and a fenced yard near local amenities.
Where is this duplex located?
The property is located at 528 5th Missoula, MT.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 1920‑built duplex with separate living spaces; Upstairs unit includes a deck and ample space for a studio; Main‑floor apartment features a large kitchen and living room plus 3 bedrooms
