Four-Unit Residential Income
For Sale
$780,000
824-830 N Hoback St, Helena, MT 59601
Fully occupied quadplex with covered parking, shared laundry, and fireplaces in two units.
Property Size4,140 SF
Price / SF$188.41
Days on Market30
Property Features for 824-830 N Hoback St
General Information
Standard status
Active
Size
4,140 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Utilities to Site
Yes
Multifamily Units
4
Amenities
coin-op laundry
Building Details
Year Built
1969
Buildings
1
Tenancy
Multi
Listing Agency:
Trimac Group LLC
Listed By:
Kevin Casey · License #RRE-RBS-LIC-53297
(406) 465-8268
Source:
Mtranchsales
Added: Aug 4
Changed: Aug 31
Last Checked: Sep 1 at 10:16PM
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 Trimac Group LLC
Investment Insights
Based on property information with market context.
This four-unit residential property at 824-830 Hoback includes a main-floor three-bedroom, two-bath residence with a non-conforming bonus room, natural gas fireplace, and tuck-under garage. A lower-level unit has been remodeled and features both a heated garage and natural gas fireplace. Shared coin-operated laundry serves the building, and the roof was recently replaced.
The property was built in 1969 and includes four covered parking spaces. Utility service consists of one gas meter and four electrical meters. The quadplex is located in central Helena and is fully rented.
The property was built in 1969 and includes four covered parking spaces. Utility service consists of one gas meter and four electrical meters. The quadplex is located in central Helena and is fully rented.
Key Highlights
- Four‑unit quadplex at 824‑830 Hoback in Helena, MT 59601
- Main‑floor unit includes 3 bedrooms, 2 baths, a non‑conforming bonus room, fireplace, and tuck‑under garage
- Recently remodeled lower‑level unit with heated garage and natural gas fireplace
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
$37,393
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
4.79%
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%
$747,860
$747.9K
Cap Rate 7%
$534,186
$534.2K
Cap Rate 9%
$415,478
$415.5K
Market Conditions
NOI Build-Up for 4,140 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
$57.1K $13.80/SF
− Vacancy
−$3.7K −$0.90/SF
EGI
$53.4K $12.90/SF
− OpEx
−$16.0K −$3.87/SF
NOI
$37.4K $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%
$747,860
Cap Rate 7%
$534,186
Cap Rate 9%
$415,478
Alternative Uses
Best Use
Multifamily LT 5
$534.2K
$467.4K – $623.2K
NOI $37,393 @ 7.0% cap · market cap 4.79%
Second Best
Apartment 5plus
$500.6K
$438.0K – $584.1K
NOI $35,043 @ 7.0% cap · market cap 4.49%
Theoretical Best
Office A
$899.3K
$786.9K – $1.05M
NOI $62,954 @ 7.0% cap · market cap 8.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,980
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied quadplex with covered parking, shared laundry, and fireplaces in two units.
Where is this quadplex located?
The property is located at 824-830 N Hoback St Helena, MT.
What is the asking price?
The asking price for this property is $780,000.
What are key features of this property?
This property features: Four‑unit quadplex at 824‑830 Hoback in Helena, MT 59601; Main‑floor unit includes 3 bedrooms, 2 baths, a non‑conforming bonus room, fireplace, and tuck‑under garage; Recently remodeled lower‑level unit with heated garage and natural gas fireplace
