Fourplex with Expanded
For Sale
$730,000
701 1st, Helena, MT 59601
Fourplex offers three 1-bed/1-bath units plus a studio, situated on a lot larger than typical for a fourplex.
Property Size3,392 SF
Price / SF$215.21
Days on Market64
Property Features for 701 1st
General Information
Standard status
Active
Size
3,392 SF
Property subtype
Multi Family Home
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$4,998
Amenities
Garage Spaces: 0
Building Details
Year Built
1920
Listing Agency:
RE/MAX Of Helena
Listed By:
Joseph M Mueller · License #9223
Source:
Clearwaterproperties
Added: Jun 22
Changed: Aug 23
Last Checked: Aug 23 at 7:30AM
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 RE/MAX Of Helena
Investment Insights
Based on property information with market context.
This fourplex provides four residential units, including three 1-bedroom/1-bath apartments and one studio apartment. The property sits on a lot that is described as significantly larger than typical for a fourplex in the area, creating space that could support additional on-site storage, outdoor tenant space, or added parking.
The building is located in a walkable Helena setting near downtown. The location is also described as close to the Mount Ascension trailhead.
The unit mix is straightforward and manageable, and the expanded lot is a key attribute for an owner looking to accommodate more utility on-site or consider future improvements within the property boundaries.
The building is located in a walkable Helena setting near downtown. The location is also described as close to the Mount Ascension trailhead.
The unit mix is straightforward and manageable, and the expanded lot is a key attribute for an owner looking to accommodate more utility on-site or consider future improvements within the property boundaries.
Key Highlights
- Fourplex built in 1920 with three 1‑bedroom/1‑bath units plus a studio apartment
- Lot size is larger than typical for a fourplex in the area, offering room for added parking, storage, or outdoor tenant space
- Multifamily located near downtown Helena
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
$30,637
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
4.20%
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%
$612,740
$612.7K
Cap Rate 7%
$437,671
$437.7K
Cap Rate 9%
$340,411
$340.4K
Market Conditions
NOI Build-Up for 3,392 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
$46.8K $13.80/SF
− Vacancy
−$3.0K −$0.90/SF
EGI
$43.8K $12.90/SF
− OpEx
−$13.1K −$3.87/SF
NOI
$30.6K $9.03/SF
Area
Lewis and Clark County, MT
Vacancy
6.50%
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%
$612,740
Cap Rate 7%
$437,671
Cap Rate 9%
$340,411
Alternative Uses
Best Use
Multifamily LT 5
$437.7K
$383.0K – $510.6K
NOI $30,637 @ 7.0% cap · market cap 4.20%
Second Best
Apartment 5plus
$410.2K
$358.9K – $478.5K
NOI $28,712 @ 7.0% cap · market cap 3.93%
Theoretical Best
Office A
$736.9K
$644.8K – $859.7K
NOI $51,580 @ 7.0% cap · market cap 7.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
566
Businesses Nearby
Explore this area
Business Placement
Demographics for 59601, MT
30,848
Population
15,937
Households
1.9
Avg Household Size
41
Median Age
51%
College-Educated
96%
High-School Grad
130.2 sq mi
ZIP Area
237
Density / Sq Mi
$70,502
Median Household Income
$44,000
Median Earnings
$1,023
Median Rent
$355,000
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Fourplex offers three 1-bed/1-bath units plus a studio, situated on a lot larger than typical for a fourplex.
Where is this quadplex located?
The property is located at 701 1st Helena, MT.
What is the asking price?
The asking price for this property is $730,000.
What are key features of this property?
This property features: Fourplex built in 1920 with three 1‑bedroom/1‑bath units plus a studio apartment; Lot size is larger than typical for a fourplex in the area, offering room for added parking, storage, or outdoor tenant space; Multifamily located near downtown Helena
