Real Estate Investment Properties for Sale in Shepherd, MT

Looking for investment property in Shepherd, MT with high ROI ?

Explore a variety of short-term homes & houses in Shepherd, MT. Invest wisely with VRBO & Shepherd, MT Airbnb properties available for purchase. Find your ideal investment property among our curated listings for a rewarding real estate venture.

Investment Property for Sale in Shepherd, MT

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PROPERTY	DETAILS	SALE PRICE	INVESTMENT PERFORMANCE
369 Border Trail Shepherd, MT One-of-a-kind rural retreat on +/-220 private acres in Musselshell County with sweeping vi...	4 beds \| 3 baths \| 2,880 sq.ft.	$1,200,000	Airbnb cash on cash: N/A Traditional cash on cash: 1.53% Airbnb Rental Income: $null Traditional Rental Income: $3132 Airbnb ROI: N/A Traditional ROI: 1.53%
7157 Lance Street Shepherd, MT Welcome home! Situated on a spacious 1 acre lot within the Shepherd School District; this ...	3 beds \| 2 baths \| 1,248 sq.ft.	$395,000	Airbnb cash on cash: N/A Traditional cash on cash: 4.08% Airbnb Rental Income: $null Traditional Rental Income: $2120 Airbnb ROI: N/A Traditional ROI: 4.08%
7684 12 Mile Road Shepherd, MT Escape to your own Montana paradise! Nestled on 20 unrestricted acres, this 3-bedroom, 2-b...	3 beds \| 2 baths \| 3,390 sq.ft.	$520,000	Airbnb cash on cash: N/A Traditional cash on cash: 2.52% Airbnb Rental Income: $null Traditional Rental Income: $2003 Airbnb ROI: N/A Traditional ROI: 2.52%
2930 Shale Rock Drive Shepherd, MT Country living with the big-ticket updates already done! This FHA-approved home on a perma...	3 beds \| 2 baths \| 1,456 sq.ft.	$335,900	Airbnb cash on cash: N/A Traditional cash on cash: 3.94% Airbnb Rental Income: $null Traditional Rental Income: $1716 Airbnb ROI: N/A Traditional ROI: 3.94%
9705 Shepherd Road Shepherd, MT Looking for a great property off the highway in a wonderful location, look no further. Thi...	2 beds \| 2 baths \| 1,600 sq.ft.	$310,000	Airbnb cash on cash: N/A Traditional cash on cash: 5.76% Airbnb Rental Income: $null Traditional Rental Income: $2245 Airbnb ROI: N/A Traditional ROI: 5.76%
3625 Nellie Christine Drive Shepherd, MT Price adjustment. This custom-built modular home is located in a gated community on a 2.25...	3 beds \| 2 baths \| 1,568 sq.ft.	$480,000	Airbnb cash on cash: N/A Traditional cash on cash: 3.44% Airbnb Rental Income: $null Traditional Rental Income: $2392 Airbnb ROI: N/A Traditional ROI: 3.44%
5430 Cerkoney Lane Shepherd, MT Everyone loves a shop house, especially one priced below appraisal value_This well-designe...	3 beds \| 2 baths \| 1,848 sq.ft.	$499,900	Airbnb cash on cash: N/A Traditional cash on cash: 3.8% Airbnb Rental Income: $null Traditional Rental Income: $2586 Airbnb ROI: N/A Traditional ROI: 3.8%
7340 Wild Game Trail Shepherd, MT Sellers are under contract for new home & ready for a quick close! This custom, country ho...	4 beds \| 3 baths \| 3,200 sq.ft.	$555,000	Airbnb cash on cash: N/A Traditional cash on cash: 4.14% Airbnb Rental Income: $null Traditional Rental Income: $3096 Airbnb ROI: N/A Traditional ROI: 4.14%
3418 High Noon Shepherd, MT Be a pioneer to a new subdivision in Shepherd! This 2025 brand new, cozy 3 bed/2 bath home...	3 beds \| 2 baths \| 1,345 sq.ft.	$389,000	Airbnb cash on cash: N/A Traditional cash on cash: 3.22% Airbnb Rental Income: $null Traditional Rental Income: $1935 Airbnb ROI: N/A Traditional ROI: 3.22%
3507 High Noon Shepherd, MT Be a pioneer to a new subdivision in Shepherd! This 2025 brand new, cozy 3 bed/2 bath home...	3 beds \| 2 baths \| 1,325 sq.ft.	$389,000	Airbnb cash on cash: N/A Traditional cash on cash: 3.12% Airbnb Rental Income: $null Traditional Rental Income: $1899 Airbnb ROI: N/A Traditional ROI: 3.12%
7420 Whitetail Run Shepherd, MT 2+ acre Shepherd property â¢ Main-level primary suite â¢ Finished basement with flexible...	4 beds \| 3 baths \| 3,384 sq.ft.	$539,900	Airbnb cash on cash: N/A Traditional cash on cash: 4.65% Airbnb Rental Income: $null Traditional Rental Income: $3139 Airbnb ROI: N/A Traditional ROI: 4.65%
6345 Pleasant Hollow Trail Shepherd, MT Shockingly spacious, well cared for multigenerational home on nearly 5 private acres, up i...	4 beds \| 4 baths \| 4,928 sq.ft.	$624,900	Airbnb cash on cash: N/A Traditional cash on cash: 4.48% Airbnb Rental Income: $null Traditional Rental Income: $3654 Airbnb ROI: N/A Traditional ROI: 4.48%
6513 Frey Road Shepherd, MT Excellent Price Improvement! This could be an ideal property with a main house plus a moth...	3 beds \| 2 baths \| 3,285 sq.ft.	$619,000	Airbnb cash on cash: N/A Traditional cash on cash: 2.29% Airbnb Rental Income: $null Traditional Rental Income: $2321 Airbnb ROI: N/A Traditional ROI: 2.29%
5213 Shepherd Acton Road Shepherd, MT Country living on 10 acres in Shepherd! This 3 bed, 1 bath home offers 1,814 sq ft with a ...	3 beds \| 1 baths \| 1,814 sq.ft.	$550,000	Airbnb cash on cash: N/A Traditional cash on cash: 2.49% Airbnb Rental Income: $null Traditional Rental Income: $1903 Airbnb ROI: N/A Traditional ROI: 2.49%
6107 Shepherd Road Shepherd, MT This 4-bedroom, 1.5-bath home sits on 2.4 fully irrigated acres and offers the space and s...	4 beds \| 2 baths \| 2,800 sq.ft.	$465,000	Airbnb cash on cash: N/A Traditional cash on cash: 4.89% Airbnb Rental Income: $null Traditional Rental Income: $2870 Airbnb ROI: N/A Traditional ROI: 4.89%
6770 Eagle Bend Boulevard Shepherd, MT 5.64 acres AND a SHOP! Country living at its finest! Newer ranch style home offers the per...	4 beds \| 3 baths \| 2,920 sq.ft.	$729,900	Airbnb cash on cash: N/A Traditional cash on cash: 3.05% Airbnb Rental Income: $null Traditional Rental Income: $3242 Airbnb ROI: N/A Traditional ROI: 3.05%
High Noon Drive (Lot 7, Blk 2) Shepherd, MT Brand new 1,800 sqft barndominium on 1.6 acres in Shepherd, just minutes from Billings. Th...	3 beds \| 2 baths \| 1,800 sq.ft.	$495,000	Airbnb cash on cash: N/A Traditional cash on cash: 3.93% Airbnb Rental Income: $null Traditional Rental Income: $2411 Airbnb ROI: N/A Traditional ROI: 3.93%
5750 Pleasant Hollow Trail Shepherd, MT Beautiful custom handcrafted home nestled in the trees! The home features a full wrap arou...	4 beds \| 3 baths \| 3,922 sq.ft.	$850,000	Airbnb cash on cash: N/A Traditional cash on cash: 2.61% Airbnb Rental Income: $null Traditional Rental Income: $3434 Airbnb ROI: N/A Traditional ROI: 2.61%
7104 Shepherd Road Shepherd, MT 2-acre Shepherd property with shop â¢ Convenient access to Billings â¢ 50-amp RV hookup....	3 beds \| 2 baths \| 1,886 sq.ft.	$459,900	Airbnb cash on cash: N/A Traditional cash on cash: 4.23% Airbnb Rental Income: $null Traditional Rental Income: $2525 Airbnb ROI: N/A Traditional ROI: 4.23%
6733 High Hill Road Shepherd, MT Ohhh Ohhh! Dash to this one! It offers so much! Country living on 1.293 acres with an easy...	3 beds \| 2 baths \| 1,750 sq.ft.	$334,900	Airbnb cash on cash: N/A Traditional cash on cash: 5.47% Airbnb Rental Income: $null Traditional Rental Income: $2248 Airbnb ROI: N/A Traditional ROI: 5.47%
6447 Us Highway 312 Shepherd, MT Rural freedoms meet modern comfort and convenience in this farm style ranch property. No r...	4 beds \| 3 baths \| 3,956 sq.ft.	$595,000	Airbnb cash on cash: N/A Traditional cash on cash: 3.18% Airbnb Rental Income: $null Traditional Rental Income: $2780 Airbnb ROI: N/A Traditional ROI: 3.18%

Real Estate investment in Shepherd, MT

There are 30 properties for sale in the city of Shepherd . The median list price in Shepherd is $575,000 and the average price per square foot is $238. In June 2026, the average monthly cash on cash return in Shepherd is 4.00%. The average monthly rental income in Shepherd is $2,402.

Shepherd, MT Real Estate Investing: FAQs for Buyers, Sellers and Investors

There are 30 investment properties available for sale in Shepherd.

In 2026, the best neighborhood to buy investment property is Shepherd.

The ROI for Short-Term is higher than the Long-Term in Shepherd with average rental income of $N/A.

Your search for investment property begins and ends here

Investment Property for Sale in Shepherd, MT

369 Border Trail

Shepherd, MT

4 beds | 3 baths | 2,880 sq.ft.

$1,200,000

Airbnb cash on cash: N/A

Traditional cash on cash: 1.53%

Airbnb Rental Income: $null

Traditional Rental Income: $3132

Airbnb ROI: N/A

Traditional ROI: 1.53%

7157 Lance Street

Shepherd, MT

3 beds | 2 baths | 1,248 sq.ft.

$395,000

Airbnb cash on cash: N/A

Traditional cash on cash: 4.08%

Airbnb Rental Income: $null

Traditional Rental Income: $2120

Airbnb ROI: N/A

Traditional ROI: 4.08%

7684 12 Mile Road

Shepherd, MT

3 beds | 2 baths | 3,390 sq.ft.

$520,000

Airbnb cash on cash: N/A

Traditional cash on cash: 2.52%

Airbnb Rental Income: $null

Traditional Rental Income: $2003

Airbnb ROI: N/A

Traditional ROI: 2.52%

2930 Shale Rock Drive

Shepherd, MT

3 beds | 2 baths | 1,456 sq.ft.

$335,900

Airbnb cash on cash: N/A

Traditional cash on cash: 3.94%

Airbnb Rental Income: $null

Traditional Rental Income: $1716

Airbnb ROI: N/A

Traditional ROI: 3.94%

9705 Shepherd Road

Shepherd, MT

2 beds | 2 baths | 1,600 sq.ft.

$310,000

Airbnb cash on cash: N/A

Traditional cash on cash: 5.76%

Airbnb Rental Income: $null

Traditional Rental Income: $2245

Airbnb ROI: N/A

Traditional ROI: 5.76%

3625 Nellie Christine Drive

Shepherd, MT

3 beds | 2 baths | 1,568 sq.ft.

$480,000

Airbnb cash on cash: N/A

Traditional cash on cash: 3.44%

Airbnb Rental Income: $null

Traditional Rental Income: $2392

Airbnb ROI: N/A

Traditional ROI: 3.44%

5430 Cerkoney Lane

Shepherd, MT

3 beds | 2 baths | 1,848 sq.ft.

$499,900

Airbnb cash on cash: N/A

Traditional cash on cash: 3.8%

Airbnb Rental Income: $null

Traditional Rental Income: $2586

Airbnb ROI: N/A

Traditional ROI: 3.8%

7340 Wild Game Trail

Shepherd, MT

4 beds | 3 baths | 3,200 sq.ft.

$555,000

Airbnb cash on cash: N/A

Traditional cash on cash: 4.14%

Airbnb Rental Income: $null

Traditional Rental Income: $3096

Airbnb ROI: N/A