Duplex with Privacy-Fenced
For Sale
$550,000
905/907 Clark Lane, Rapid City, SD 57702
MULTI_FAMILY - Rapid City, SD
Property Size2,680 SF
Price / SF$205.22
Days on Market115
Property Features for 905/907 Clark Lane
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Rooms
Bedroom 1, Bedroom 5, Bedroom 2, Bedroom 3, Bedroom 4
Parking features
Garage, Assigned
Exterior features
Paved Street
Subdivision
Boulevard Addition
Elementary school district
Rapid City
Middle school district
Rapid City
High school district
Rapid City
Directions
Heading S. on Mt. Rushmore Rd. R onClark, home is on the L.
Standard status
Active
Size
2,680 SF
Utilities
Heating system
Forced Air, Natural Gas
Amenities
privacy fenced backyard
concrete patio
firepit area
pergola-covered patio
Building Details
Year built
1939
Number of units
2
Building materials
Frame
Roof type
Composition
Architectural style
Other
Listing Agency:
Keller Williams Realty Black Hills SP
(605) 343-7500
Listed By:
Holly Hultgren
(605) 545-1943
Added: Apr 10
Changed: Jul 30
Last Checked: Aug 2 at 9:06PM
MLS# 88231
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.
Investment Insights
Based on property information with market context.
Move-in ready Duplexes at 905/907 Clark Lane offering two separate units under one roof. Unit 905 has been renovated and features 3 bedrooms (1 in the entry level, per the description) and 1 bathroom in 1,340 SF, with an open concept living area, natural light, and wood floors. The remodeled kitchen includes new counters, cabinets, stainless steel appliances, and a farmhouse sink. A fully finished, recently updated basement adds 2 more bedrooms and a private laundry closet.
Unit 907 has 2 bedrooms, 1 bathroom, and 1,340 SF, with wood floors and space for a gas fireplace in the living room. The galley kitchen includes stainless steel appliances and a window overlooking the side yard. Upstairs includes 1 bedroom and a full bath, while the finished and recently remodeled basement adds another bedroom, a bonus room suitable for a home office, and a laundry closet.
Both sides include privacy-fenced outdoor areas. The property also features paved street access, alley access to parking, and a detached 2-car garage. Built in 1939 with frame construction and a composition roof, the homes are heated with forced air natural gas.
Unit 907 has 2 bedrooms, 1 bathroom, and 1,340 SF, with wood floors and space for a gas fireplace in the living room. The galley kitchen includes stainless steel appliances and a window overlooking the side yard. Upstairs includes 1 bedroom and a full bath, while the finished and recently remodeled basement adds another bedroom, a bonus room suitable for a home office, and a laundry closet.
Both sides include privacy-fenced outdoor areas. The property also features paved street access, alley access to parking, and a detached 2-car garage. Built in 1939 with frame construction and a composition roof, the homes are heated with forced air natural gas.
Key Highlights
- Unit 905 renovated with 3 bedrooms and 1 bath, plus finished basement with 2 additional bedrooms and private laundry
- Unit 907 offers 2 bedrooms and 1 bath in 1,340 SF, with finished basement adding another bedroom and bonus room
- Privacy‑fenced yards for both sides, with patio space including a pergola‑covered patio on the 907 side
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $30.6k | $11.40 |
| − Vacancy | −$1.4k | −$0.51 |
| EGI | $29.2k | $10.89 |
| − OpEx | −$8.8k | −$3.27 |
| NOI | $20.4k | $7.62 |
2,680 SF · lease $11.40/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$291.8K
$255.3K – $340.4K
NOI $20,424 @ 7.0% cap · market cap 3.71%
Second Best
Apartment 5plus
$271.7K
$237.7K – $317.0K
NOI $19,018 @ 7.0% cap · market cap 3.46%
Theoretical Best
Specialty Retail
$485.8K
$425.1K – $566.8K
NOI $34,009 @ 7.0% cap · market cap 6.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
7
Businesses Nearby
Explore this area
Business Placement
Demographics for 57702, SD
33,162
Population
16,786
Households
2
Avg Household Size
46
Median Age
48%
College-Educated
98%
High-School Grad
285.8 sq mi
ZIP Area
116
Density / Sq Mi
$85,700
Median Household Income
$44,214
Median Earnings
$1,209
Median Rent
$341,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Move-in ready duplex with two renovated units, each featuring 1,340 SF and private outdoor space.
Where is this duplex located?
The property is located at 905/907 Clark Lane Rapid City, SD.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Unit 905 renovated with 3 bedrooms and 1 bath, plus finished basement with 2 additional bedrooms and private laundry; Unit 907 offers 2 bedrooms and 1 bath in 1,340 SF, with finished basement adding another bedroom and bonus room; Privacy‑fenced yards for both sides, with patio space including a pergola‑covered patio on the 907 side
