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Property profile & analytics
OFF-MARKET
Investment properties
605 Lincoln Ln Billings, MT 59105-3235
Individually Owned
19-yr Hold
Free & Clear
Property ID
US52-0003127
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1920
Construction
WOOD
Total area
1,526 SF
Lot
0.28 ac (12,284 SF)
Zoning code
NC
APN
03-1033-27-1-12-10-0000
UPID
US52-0003127
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Elwin G Kirkwood · 19 yrs held
Elwin G Kirkwood
since 2007
7 recorded transactions
Zoning & alternative use
NC · Billings, MT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Billings submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Billings submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$3,648
Tax year 2023
Assessed value
$292,000
Assessed 2023
Previous assessed
$292,000
+0.0% YoY
Effective rate
1.25%
On assessed value
Land market value
$93,633
Improvement market value
$198,367
Total market value
$292,000
Applied tax rate
965.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1920
Construction
WOOD
Heating
YES
Cooling
CENTRAL
Stories
1
Rooms
4
Bathrooms
1
Total area
1,526 SF
Lot
0.28 ac (12,284 SF)
Zoning code
NC
APN
03-1033-27-1-12-10-0000
UPID
US52-0003127
Jurisdiction
YELLOWSTONE
Zoning & alternative use
NC · Billings, MT
Zoning NC · permitted uses
NC · Billings, MT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Billings. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1920
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Rooms
4
Bathrooms
1
Lot
0.28 ac
Current owner
From public records · entity-resolved
Elwin G Kirkwood
Individual
Free & Clear · 19 yrs held
Mailing address
3551 MASTERSON CIR, BILLINGS, MT 59106-9623
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 21, 2025
—
Joleen P Kirkwood
—
Deed
related
$51,071 · Stockman Bank Of Montana
Jun 25, 2007
—
Elwin G Kirkwood
Owner Name Unavailable
Grant Deed
related
—
Feb 9, 2006
—
Elwin G Kirkwood
Hanser Construction
Warranty Deed
$87,920 · Stockman Bank Of Montana
Jan 17, 2006
—
Owner Name Unavailable
Owner Name Unavailable
Grant Deed
related
—
May 11, 2005
—
Hanser Construction Co
Hill,duane J
Warranty Deed
$199,203 · Yellowstone Bank
Feb 10, 1999
—
Comment Holding Co
Pearson,clyde E & Pauline B
Grant Deed
related
—
Feb 1, 1999
—
Duane J Hill
Hill,duane J & Nancy A
Quit Claim Deed
related
$51,000 · Stockmen's Bank
—
—
Duane J Hill
—
Deed Of Trust
related
$63,882 · Stockman Bank Of Montana
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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