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    113 3Rd St Newell, SD 57760

    View on Map
    Sponsored
    For Sale
    $99,500

    2 Story, Other - Newell, SD

    Property size:
    2,600 SF
    Lot size:
    0.26 Acres
    Days on Market:
    41
    Last Refresh:
    Mar 7 at 9:06 am

    Property Features for 113 3Rd St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Bedrooms
    5
    Parking features
    Garage, Paved or Surfaced
    Interior features
    Smoke Detectors
    Exterior features
    Shed, Paved Street
    Appliances
    Dryer, Refrigerator
    Size
    2,600 SF
    Lot size
    0.26 Acres

    Utilities

    Heating system
    Forced Air, Propane (Heating)

    Building Details

    Year built
    1920
    Floors in Building
    2
    Number of units
    8
    Building materials
    Masonite, Metal Siding
    Architectural style
    Other
    Additional Structures
    Packing Shed, Shed(s)

    We can help!

    Listing Contact
    Bud Hannah
    Bud Hannah

    RE/MAX In The Hills (605) 642-2500

    Listing agent Bud Hannah (605) 642-2500

    Listing date Jan 26, 2026

    MLS# 85843 Listing URL

    Copyright © 2026 Mt. Rushmore Area 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.

    Learn more

    Property Insight Report

    Overview

    Newell SD Boarding Home Opportunity

    This two-story, seven-bedroom boarding home is situated in Newell, South Dakota, on three city lots near Main Street. The property includes a 24x28 two-car garage with a concrete floor. The main level features a kitchen, dining room, laundry room, living room, three bedrooms, and one and a half bathrooms, as well as a back porch. The laundry room is open for tenant use. The upper level contains four bedrooms and one shared bathroom. A new furnace was installed one year ago. The second level is equipped with a wall furnace and several portable heaters. The water heater, approximately 50 gallons and installed in 2020, is located in the laundry area. The electrical system appears to have been updated in many areas, with several electrical panels. Much of the woodwork is original. The property is suitable for residential income, retirement homes, senior housing, and healthcare purposes.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retirement homes

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Department Store Bar & Pub

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Newell
    County
    Butte
    State
    South Dakota
    Longitude
    -103.421646
    Latitude
    44.714474

    Nearby Similar for Sale

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    • $135,000
      1,216 SF

      Newell Home on Half Acre

      Three-bedroom home on a half-acre corner lot in Newell.
      314 8Th St, Newell, SD 57760
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    • $895,000
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      Newell SD Office & Business

      Established business, great potential.
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    FAQs

    What type of property is this?
    Residential income property - Seven-bedroom boarding home on three city lots near Main Street.
    Where is this residential income property located?
    The property is located at 113 3Rd St Newell, SD.
    What is the asking price?
    The asking price for this property is $99,500.
    What are key features of this property?
    This property features: - 7-bedroom boarding home presents a significant income opportunity.; - Includes 3 city lots, increasing property value and potential.; - Features a 2-car garage (24x28) with a concrete floor.
    (605) 642-2500
    Request Owner's contact information
    113 3Rd St Newell, SD 57760
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    Newell, SD 57760
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    113 3Rd St Newell, SD 57760
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    We can help!
    Listing Contact
    Bud Hannah
    Bud Hannah
    Real Estate License ID: 10670
    (605) 642-2500 (605) 645-2026
    Learn more
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