Duplex-Style Home with Two Living
For Sale
$830,000
86 Austin Drive, Three Forks, MT 59752
MULTI_FAMILY - Three Forks, MT
Property Size3,024 SF
Lot Size20.06 Acres
Price / SF$274.47
Days on Market139
Property Features for 86 Austin Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
None/Unknown
Rooms
Basement
Patio and Porch features
Porch
Interior features
WoodBurningStove
Fireplace
1
Appliances
Dishwasher, Range, Refrigerator
View
Mountains
Directions
ake I-90 West to exit 283 toward Logan/Trident. Turn left onto Buffalo Jump Road, then left onto 2 Dog Road. Turn right onto Austin Drive and it's 135 feet on your left.
Subdivision
4TL - Logan City
Standard status
Active
APN
RDD254
Lot size
20.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
MINOR SUB 130, S35, T02 N, R02 E, LOT 1, ACRES 20.0595
Tax Annual Amount
2057
Legal Description
MINOR SUB 130, S35, T02 N, R02 E, LOT 1, ACRES 20.0595
Utilities
Sewer type
Septic Tank
Heating system
Natural Gas
Water source
Well
Amenities
equipment barn
shed
covered porch
wood stove
hardwood floors
Building Details
Year built
1998
Floors in Building
1
Number of units
2
Flooring type
Hardwood, Plank, Vinyl
Roof type
Metal
Listing Agency:
Bozeman Real Estate Group
(406) 587-1717
Listed By:
Matthew Ryan · License #RBS-88969
(406) 579-4432
Added: Apr 1
Changed: Aug 3
Last Checked: Aug 17 at 12:06AM
MLS# 409903
Copyright © 2026 Big Sky Country MLS. 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.
Duplex-style home at 86 Austin Drive features 3,024 square feet across two fully self-contained levels, each with its own kitchen, bedrooms, and private areas. The main level includes four bedrooms (including a primary suite) with an open kitchen and dining area and a living room anchored by a wood-burning stove. The lower level matches the main level with its own kitchen, two bedrooms, a full bath, family room, dedicated laundry, and a private entrance.
The property sits on 20.06 acres just outside Three Forks with open farmland and mountain views in every direction, and state land bordering the back fence. Per Gallatin County, the land carries no zoning restrictions and no use limitations, with genuine lot split potential. There is no HOA and no overlay district.
Outside, an equipment barn and shed are already in place, along with partial fencing. The home has a metal roof and concrete wall foundation, with well water, septic tank, and propane serving the property. Built in 1998.
The property sits on 20.06 acres just outside Three Forks with open farmland and mountain views in every direction, and state land bordering the back fence. Per Gallatin County, the land carries no zoning restrictions and no use limitations, with genuine lot split potential. There is no HOA and no overlay district.
Outside, an equipment barn and shed are already in place, along with partial fencing. The home has a metal roof and concrete wall foundation, with well water, septic tank, and propane serving the property. Built in 1998.
Key Highlights
- 3,024 SF across two fully self‑contained levels with private entrances
- 20.06 acres just outside Three Forks with open farmland and mountain views
- State land borders the back fence
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
$34,086
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
4.11%
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%
$681,720
$681.7K
Cap Rate 7%
$486,943
$486.9K
Cap Rate 9%
$378,733
$378.7K
Market Conditions
NOI Build-Up for 3,024 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
$51.5K $17.04/SF
− Vacancy
−$2.8K −$0.94/SF
EGI
$48.7K $16.10/SF
− OpEx
−$14.6K −$4.83/SF
NOI
$34.1K $11.27/SF
Area
Gallatin County, MT
Vacancy
5.50%
Lease Rate
$17.04 /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%
$681,720
Cap Rate 7%
$486,943
Cap Rate 9%
$378,733
Alternative Uses
Best Use
Multifamily LT 5
$486.9K
$426.1K – $568.1K
NOI $34,086 @ 7.0% cap · market cap 4.11%
Second Best
Apartment 5plus
$452.3K
$395.8K – $527.7K
NOI $31,664 @ 7.0% cap · market cap 3.81%
Theoretical Best
Office A
$789.6K
$690.9K – $921.2K
NOI $55,274 @ 7.0% cap · market cap 6.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
12
Businesses Nearby
Explore this area
Business Placement
Demographics for 59752, MT
4,535
Population
2,101
Households
2.2
Avg Household Size
40
Median Age
26%
College-Educated
97%
High-School Grad
403.7 sq mi
ZIP Area
11
Density / Sq Mi
$82,228
Median Household Income
$46,573
Median Earnings
$1,218
Median Rent
$426,600
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?
Duplex - Duplex-style home on 20.06 acres with two fully self-contained levels and a wood-burning stove.
Where is this duplex located?
The property is located at 86 Austin Drive Three Forks, 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: 3,024 SF across two fully self‑contained levels with private entrances; 20.06 acres just outside Three Forks with open farmland and mountain views; State land borders the back fence
