Modern Duplex Under
New
For Sale
$830,000
5916 - 5918 Little River Loop, Billings, MT 59106
Residential, Billings, MT
Property Size4,180 SF
Lot Size0.28 Acres
Price / SF$198.56
Days on Market4
Property Features for 5916 - 5918 Little River Loop
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning description
N2 - Mid-Century Neighborhood Residential
Bedrooms
8
Full bathrooms
4
Half bathrooms
2
Rooms
Bedroom 1, Bathroom 5, Bathroom 2, Bedroom 6, Bathroom 3, Bedroom 5, Bathroom 4, Bathroom 6, Bedroom 2, Bedroom 7, Bedroom 4, Bathroom 1, Bedroom 3, Bedroom 8
Parking features
Open
Exterior features
Fence
Fencing
Fenced
Subdivision
BUFFALO CROSSING SUB
Lot features
Landscaped, Trees
Elementary school
Meadowlark
Middle school
Ben Steele
High school
West
Directions
Grand Ave to 60th to Buffalo Crossing. Past Ben Steele Middle School
Standard status
Active
APN
A38196K
Size
4,180 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Description
BUFFALO JUMP HOMES (26), S05, T01 S, R25 E, UNIT 5916, & UNIT 5918 7.143% COMMON AREA INTEREST EACH, LOC @ LTS 2-3, BLK 3 & LTS 2-6, BLK 1
Tax Annual Amount
977
Legal Description
BUFFALO JUMP HOMES (26), S05, T01 S, R25 E, UNIT 5916, & UNIT 5918 7.143% COMMON AREA INTEREST EACH, LOC @ LTS 2-3, BLK 3 & LTS 2-6, BLK 1
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Amenities
enhanced soundproofing
beautiful West End views
fully landscaped fenced backyards
Building Details
Year built
2025
Floors in Building
2
Number of units
2
Building materials
Hardboard
Roof type
Asphalt, Shingle
Architectural style
Other
Listing Agency:
Metro, REALTORS L.L.P
(406) 245-9300
Listed By:
Seth Compton · License #RRE-RBS-LIC-136332
(406) 860-7502
Added: Aug 18
Changed: Aug 19
Last Checked: Aug 21 at 7:06AM
MLS# 361228
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.
Investment Insights
Based on property information with market context.
This under-construction duplex contains 4,180 square feet arranged as two separate units. Each residence offers three bedrooms plus an office, 2.5 bathrooms, an open-concept living plan, high ceilings, abundant natural light, and modern finishes. Enhanced soundproofing, central air, forced-air natural-gas heat, and hardboard exteriors are included. Both units also have landscaped, fenced backyards, while open parking serves the property.
Built in 2025, the property occupies 0.2816 acres and is connected to public water and public sewer. The address is 5916–5918 Little River Loop in Billings, Montana 59106. The property is currently tenant occupied.
Built in 2025, the property occupies 0.2816 acres and is connected to public water and public sewer. The address is 5916–5918 Little River Loop in Billings, Montana 59106. The property is currently tenant occupied.
Key Highlights
- Two‑unit duplex totaling 4,180 square feet
- Each unit includes 3 bedrooms, an office, and 2.5 bathrooms
- Under construction with a 2025 build year
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
$38,158
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
4.60%
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%
$763,160
$763.2K
Cap Rate 7%
$545,114
$545.1K
Cap Rate 9%
$423,978
$424.0K
Market Conditions
NOI Build-Up for 4,180 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
$57.7K $13.80/SF
− Vacancy
−$3.2K −$0.76/SF
EGI
$54.5K $13.04/SF
− OpEx
−$16.4K −$3.91/SF
NOI
$38.2K $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 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%
$763,160
Cap Rate 7%
$545,114
Cap Rate 9%
$423,978
Alternative Uses
Best Use
Multifamily LT 5
$545.1K
$477.0K – $636.0K
NOI $38,158 @ 7.0% cap · market cap 4.60%
Second Best
Apartment 5plus
$505.5K
$442.3K – $589.7K
NOI $35,382 @ 7.0% cap · market cap 4.26%
Theoretical Best
Office A
$912.1K
$798.1K – $1.06M
NOI $63,844 @ 7.0% cap · market cap 7.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
21
Businesses Nearby
Explore this area
Business Placement
Demographics for 59106, MT
20,681
Population
8,164
Households
2.5
Avg Household Size
40
Median Age
52%
College-Educated
98%
High-School Grad
112.0 sq mi
ZIP Area
185
Density / Sq Mi
$122,374
Median Household Income
$52,380
Median Earnings
$1,380
Median Rent
$483,100
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 - Two-unit property with open layouts, fenced yards, and contemporary finishes in Billings’ West End.
Where is this duplex located?
The property is located at 5916 - 5918 Little River Loop Billings, MT.
What is the asking price?
The asking price for this property is $830,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 4,180 square feet; Each unit includes 3 bedrooms, an office, and 2.5 bathrooms; Under construction with a 2025 build year
