205 Water Street, Sheridan, MT 59749
Local realty services provided by:ERA Landmark Real Estate
205 Water Street,Sheridan, MT 59749
$599,000
- 6 Beds
- 3 Baths
- 2,512 sq. ft.
- Single family
- Active
Listed by:
Terri Medina(406) 865 - 0237ERA Lambros Real Estate
MLS#:402686
Source:MT_BZM
Price summary
- Price:$599,000
- Price per sq. ft.:$238.46
About this home
Endless Potential on a Rare Double Lot - Live, Rent, Build, or Invest! Welcome to 205 Water Street, a well-maintained, flexible property brimming with possibilities located in the heart of Sheridan, MT. Situated on a 0.35± acre corner lot, the property spans two separate parcels - perfect for creating opportunities to build an additional duplex or single-family home, add a garage or simply holding the second lot as a long-term investment.
The 2012 built home is located on Lot 11A and offers multiple living configurations. It is ideally suited for single family use, multi-generational living or as an income-generating duplex. As a single-family home, enjoy 6 total bedrooms, 3 full bathrooms and over 2,500 square feet of living space. The upper level features 3 bedrooms and 2 full baths, a spacious living room, full kitchen, washer/dryer, A/C and a charming balcony deck ideal for grilling or relaxing. The lower level mirrors the upper, with 3 more bedrooms, 1 full bath, its own full kitchen, pantry, laundry room and a private entrance making it an excellent option for a duplex setup or rental income.
Designed with efficiency and versatility in mind, this home is equipped with two furnaces, two hot water heaters, and separate gas and electric meters - a rare and valuable configuration for multi-family use or owner-occupied living with a rental unit to help offset your mortgage or provide cash flow. The home has historically been used as a short and long term rental. A projected $3,000/month was estimated by a local, licensed property manager between the 2 units as long term rental, plus you have the option to sell or develop the other lot!
Beyond the home itself, the property offers a lifestyle that's hard to match. Located just minutes from downtown Sheridan, and nestled in Montana's Ruby Valley-surrounded by scenic mountains, rivers, and open space in every direction. Outdoor recreation abounds with world famous fly fishing, hiking, horseback riding, hunting, and snowmobiling right at your doorstep. Plus, historic Virginia City is just a short drive away, offering rich local history and seasonal events. Conveniently positioned between Bozeman and Butte, with access to airports in both directions, this location balances small-town charm with regional connectivity.
Whether you're a homeowner looking for flexibility, a savvy investor or a builder ready to capitalize on the additional lot, 205 Water St offers unmatched potential in a prime location.
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Home facts
- Year built:2012
- Listing Id #:402686
- Added:72 day(s) ago
- Updated:August 09, 2025 at 06:15 PM
Rooms and interior
- Bedrooms:6
- Total bathrooms:3
- Full bathrooms:3
- Living area:2,512 sq. ft.
Heating and cooling
- Cooling:Ceiling Fans, Central Air
- Heating:Forced Air, Natural Gas
Structure and exterior
- Roof:Asphalt, Shingle
- Year built:2012
- Building area:2,512 sq. ft.
- Lot area:0.35 Acres
Utilities
- Water:Water Available
- Sewer:Sewer Available
Finances and disclosures
- Price:$599,000
- Price per sq. ft.:$238.46
- Tax amount:$2,460 (2024)
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