Two-Residence
New
For Sale
$525,000
846 Terry Avenue, Billings, MT 59101
Residential, Billings, MT
Property Size3,336 SF
Lot Size0.17 Acres
Price / SF$157.37
Days on Market7
Property Features for 846 Terry Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
NX1 - Mixed Residential 1
Bedrooms
5
Full bathrooms
3
Rooms
Bedroom 2, Bathroom 3, Bathroom 1, Bedroom 5, Bedroom 3, Bedroom 4, Bathroom 2, Bedroom 1
Subdivision
Broadwater
Elementary school
Washington
Middle school
Lewis and Clark
High school
Senior High
Standard status
Active
APN
A03433
Size
3,336 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Description
BROADWATER SUBD, S05, T01 S, R26 E, BLOCK 9, Lot 24 - 25A, AMND 7500 SQ FT (06)
Tax Annual Amount
2496
Legal Description
BROADWATER SUBD, S05, T01 S, R26 E, BLOCK 9, Lot 24 - 25A, AMND 7500 SQ FT (06)
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Amenities
private decks
separate laundry
fenced yard
storage shed
fireplace
wet bar
private well
Building Details
Year built
1945
Floors in Building
2
Number of units
2
Building materials
VinylSiding
Roof type
Asphalt
Listing Agency:
Century 21 Americana · Century 21 Real Estate
(406) 294-2121
Listed By:
Wayne Wilcox · License #RRE-RBS-LIC-46422
(406) 697-9800
Added: Sep 29
Changed: Oct 1
Last Checked: Oct 5 at 3:06PM
MLS# 362127
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 duplex contains two residences totaling 3,336 square feet on a 0.1722-acre corner lot. One side has 2 bedrooms and 1 bathroom, refinished floors, a private deck, and its own laundry. The other offers 3 bedrooms and 2 bathrooms, with additional basement living space, a fireplace, wet bar, private deck, and separate laundry. A two-car garage and storage shed are also included, and a private well serves lawn watering. The building was constructed in 1945 and has vinyl siding and central air.
The property is near downtown Billings, with shopping, dining, schools, and everyday amenities nearby. It has public water and sewer service.
The property is near downtown Billings, with shopping, dining, schools, and everyday amenities nearby. It has public water and sewer service.
Key Highlights
- Two residences with 3,336 square feet of total living space
- 0.1722‑acre corner lot in Billings
- Five bedrooms and three bathrooms across both residences
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,453
Cap Rate
5.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$609,060
$609.1K
Cap Rate 7%
$435,043
$435.0K
Cap Rate 9%
$338,367
$338.4K
Market Conditions
NOI Build-Up for 3,336 SF
Gross rent
$46.0K $13.80/SF
− Vacancy
−$2.5K −$0.76/SF
EGI
$43.5K $13.04/SF
− OpEx
−$13.1K −$3.91/SF
NOI
$30.5K $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 Rate 5%
$609,060
Cap Rate 7%
$435,043
Cap Rate 9%
$338,367
Alternative Uses
Best Use
Multifamily LT 5
$435.0K
$380.7K – $507.6K
NOI $30,453 @ 7.0% cap · market cap 5.80%
Second Best
Apartment 5plus
$403.4K
$353.0K – $470.6K
NOI $28,238 @ 7.0% cap · market cap 5.38%
Theoretical Best
Office A
$727.9K
$636.9K – $849.2K
NOI $50,953 @ 7.0% cap · market cap 9.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
692
Businesses Nearby
Explore this area
Business Placement
Demographics for 59101, MT
41,522
Population
18,864
Households
2.2
Avg Household Size
37
Median Age
22%
College-Educated
91%
High-School Grad
590.8 sq mi
ZIP Area
70
Density / Sq Mi
$58,165
Median Household Income
$36,258
Median Earnings
$930
Median Rent
$243,000
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 - Separate laundry, private decks, and a fenced yard support distinct living arrangements within the property.
Where is this duplex located?
The property is located at 846 Terry Avenue Billings, MT.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Two residences with 3,336 square feet of total living space; 0.1722‑acre corner lot in Billings; Five bedrooms and three bathrooms across both residences
