Renovated Duplex with
New
For Sale
$150,000
3028 N Van Eps Ave, Sioux Falls, SD 57104
MULTI-FAMILY, Sioux Falls, SD
Property Size1,132 SF
Lot Size0.20 Acres
Price / SF$132.51
Days on Market5
Property Features for 3028 N Van Eps Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Basement, Bathroom 1, Bedroom 2
Subdivision
Norton Tracts
Elementary school
Laura B. Anderson ES
Middle school
Whittier MS
High school
Washington HS
Elementary school district
Sioux Falls
Middle school district
SiouxFalls
High school district
SiouxFalls
Directions
North on Cliff Ave, East on 31st N, Sout on Van Eps
Standard status
Active
APN
40831
Size
1,132 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Description
S 55` W 160` Tract 24 Norton Tracts Subd In City Of Sioux Falls
Tax Annual Amount
1710
Legal Description
S 55` W 160` Tract 24 Norton Tracts Subd In City Of Sioux Falls
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Gas (Cooling)
Water source
Public
Building Details
Year built
1935
Floors in Building
1
Number of units
2
Flooring type
Carpet, Laminate
Building materials
Vinyl Siding
Roof type
Composition
Listing Agency:
Keller Williams Realty Sioux Falls
(605) 275-0555
Listed By:
Emily Eisenhauer
(605) 940-1888
Added: Oct 1
Changed: Oct 5
Last Checked: Oct 5 at 2:06PM
MLS# 22607577
Copyright © 2026 Realtor Association of the Sioux Empire MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This renovated duplex contains 1,132 square feet across two units, each with one bedroom and one bathroom. The basement offers the potential to add a second bedroom. The 0.202-acre property was built in 1935 and has vinyl siding, laminate and carpet flooring, forced-air natural gas heat, and public water and sewer service.
Both furnaces and air-conditioning units were replaced in 2023. A water heater was replaced in 2025, and a foundation wall was reinforced that same year. The property is located just north of downtown Sioux Falls.
Both furnaces and air-conditioning units were replaced in 2023. A water heater was replaced in 2025, and a foundation wall was reinforced that same year. The property is located just north of downtown Sioux Falls.
Key Highlights
- Two‑unit duplex with 1,132 square feet of building area
- Each unit has 1 bedroom and 1 bathroom
- Basement space could allow for a second bedroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,882
Cap Rate
6.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$197,640
$197.6K
Cap Rate 7%
$141,171
$141.2K
Cap Rate 9%
$109,800
$109.8K
Market Conditions
NOI Build-Up for 1,132 SF
Gross rent
$15.6K $13.80/SF
− Vacancy
−$1.5K −$1.33/SF
EGI
$14.1K $12.47/SF
− OpEx
−$4.2K −$3.74/SF
NOI
$9.9K $8.73/SF
Area
Sioux Falls, SD
Vacancy
9.63%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$197,640
Cap Rate 7%
$141,171
Cap Rate 9%
$109,800
Alternative Uses
Best Use
Multifamily LT 5
$141.2K
$123.5K – $164.7K
NOI $9,882 @ 7.0% cap · market cap 6.59%
Second Best
Apartment 5plus
$129.5K
$113.3K – $151.1K
NOI $9,063 @ 7.0% cap · market cap 6.04%
Theoretical Best
Office A
$307.4K
$269.0K – $358.6K
NOI $21,517 @ 7.0% cap · market cap 14.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
192
Businesses Nearby
Explore this area
Business Placement
Demographics for 57104, SD
26,998
Population
13,952
Households
1.9
Avg Household Size
37
Median Age
25%
College-Educated
90%
High-School Grad
30.4 sq mi
ZIP Area
888
Density / Sq Mi
$59,161
Median Household Income
$39,101
Median Earnings
$849
Median Rent
$183,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate living units offer matching one-bedroom layouts, with basement space that could accommodate an additional bedroom.
Where is this duplex located?
The property is located at 3028 N Van Eps Ave Sioux Falls, SD.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,132 square feet of building area; Each unit has 1 bedroom and 1 bathroom; Basement space could allow for a second bedroom
