Professionally Managed
New
For Sale
$390,000
946 48 Wicks Lane, Billings, MT 59105
Residential, Billings, MT
Property Size1,908 SF
Lot Size0.23 Acres
Price / SF$204.40
Days on Market1
Property Features for 946 48 Wicks Lane
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
N2 - Mid-Century Neighborhood Residential
Subdivision
Linda
Elementary school
Bitterroot
Middle school
Medicine Crow
High school
Skyview
Standard status
Active
APN
A20506
Size
1,908 SF
Lot size
0.23 Acres
Additional Details
Currently Operating
Yes
Taxes and HOA fees
Tax Description
LINDA SUBD, S23, T01 N, R26 E, BLOCK 1, Lot 16
Tax Annual Amount
2435
Legal Description
LINDA SUBD, S23, T01 N, R26 E, BLOCK 1, Lot 16
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1977
Floors in Building
2
Buildings
1
Listing Agency:
Montana Homestead Brokers
Listed By:
Cody Cox · License #RRE-RBS-LIC-16311
(406) 661-1282
Added: Oct 30
Last Checked: Oct 30 at 9:06PM
MLS# 362567
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.
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Investment Insights
Based on property information with market context.
Built in 1977, this duplex contains 1,908 square feet and occupies a 0.2326-acre parcel. It is currently operated as a long-term rental under professional management. Public water and public sewer serve the property.
The property is in Billings Heights, east of Main Street, and shares a boundary with a City of Billings walking and biking path. Shopping and dining are among the nearby amenities.
The property is in Billings Heights, east of Main Street, and shares a boundary with a City of Billings walking and biking path. Shopping and dining are among the nearby amenities.
Key Highlights
- 1,908‑square‑foot duplex built in 1977
- 0.2326‑acre parcel
- Currently operated as a long‑term rental and professionally managed
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,418
Cap Rate
4.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$348,360
$348.4K
Cap Rate 7%
$248,829
$248.8K
Cap Rate 9%
$193,533
$193.5K
Market Conditions
NOI Build-Up for 1,908 SF
Gross rent
$26.3K $13.80/SF
− Vacancy
−$1.4K −$0.76/SF
EGI
$24.9K $13.04/SF
− OpEx
−$7.5K −$3.91/SF
NOI
$17.4K $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%
$348,360
Cap Rate 7%
$248,829
Cap Rate 9%
$193,533
Alternative Uses
Best Use
Multifamily LT 5
$248.8K
$217.7K – $290.3K
NOI $17,418 @ 7.0% cap · market cap 4.47%
Second Best
Apartment 5plus
$230.7K
$201.9K – $269.2K
NOI $16,150 @ 7.0% cap · market cap 4.14%
Theoretical Best
Office A
$416.3K
$364.3K – $485.7K
NOI $29,142 @ 7.0% cap · market cap 7.47%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
474
Businesses Nearby
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Business Placement
Demographics for 59105, MT
33,310
Population
14,198
Households
2.3
Avg Household Size
37
Median Age
30%
College-Educated
96%
High-School Grad
95.9 sq mi
ZIP Area
347
Density / Sq Mi
$74,572
Median Household Income
$44,359
Median Earnings
$1,261
Median Rent
$314,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - The property is operated as a long-term rental and sits beside a city walking and biking path.
Where is this duplex located?
The property is located at 946 48 Wicks Lane Billings, MT.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: 1,908‑square‑foot duplex built in 1977; 0.2326‑acre parcel; Currently operated as a long‑term rental and professionally managed
