Two-Unit Duplex with Laundry
For Sale
$305,000
1012 W 8th St St E, Sioux Falls, SD 57104
MULTI-FAMILY, Sioux Falls, SD
Property Size2,478 SF
Lot Size0.15 Acres
Price / SF$123.08
Days on Market50
Property Features for 1012 W 8th St St E
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 5, Basement, Bedroom 3, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 2, Bedroom 4
Appliances
Dryer, Microwave, Range, Refrigerator, Washer
Subdivision
Covell's 1st Addn
Elementary school
Lowell ES
Middle school
George McGovern MS - Sioux Falls
High school
Thomas Jefferson High School
Elementary school district
Sioux Falls
Middle school district
SiouxFalls
High school district
SiouxFalls
Directions
West on 12th St-North on West Ave-East On 8th St-and left to property Driveway.
Standard status
Active
APN
28859
Size
2,478 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Description
E13 10 TO 12 BLOCK 5 COVELL`S 1ST-ADDN TO CITY OF SIOUX FALLS
Tax Annual Amount
3944
Legal Description
E13 10 TO 12 BLOCK 5 COVELL`S 1ST-ADDN TO CITY OF SIOUX FALLS
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Hot Water(Heating)
Cooling system
Electric
Water source
Public
Amenities
washer/dryer hookup
Building Details
Year built
1965
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Carpet
Building materials
Vinyl Siding
Listing Agency:
Keller Williams Realty Sioux Falls
Listed By:
Alem Gabremariam
(605) 275-0555
Added: Sep 4
Changed: Oct 23
Last Checked: Oct 23 at 10:06PM
MLS# 22606924
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.
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Investment Insights
Based on property information with market context.
This 2,478-square-foot duplex, built in 1965, contains two separate residences. The main-floor unit includes three bedrooms and one full bathroom, with two bedrooms on the main level and a third in the basement. The upper unit provides two bedrooms and one full bathroom. Both units have dedicated washer and dryer hookups, while included appliances consist of ranges, refrigerators, microwaves, washers, and dryers. Vinyl siding, vinyl and carpet flooring, natural-gas hot-water heating, and electric cooling are also in place.
The property occupies 0.1515 acres in Sioux Falls, near downtown. Public water and public sewer serve the building. The upper unit has a recently replaced water heater, providing a documented update to the property’s systems.
The property occupies 0.1515 acres in Sioux Falls, near downtown. Public water and public sewer serve the building. The upper unit has a recently replaced water heater, providing a documented update to the property’s systems.
Key Highlights
- 2,478‑square‑foot duplex on 0.1515 acres
- Main‑floor unit has 3 bedrooms and 1 full bathroom
- Upper unit includes 2 bedrooms and 1 full bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,632
Cap Rate
7.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$432,640
$432.6K
Cap Rate 7%
$309,029
$309.0K
Cap Rate 9%
$240,356
$240.4K
Market Conditions
NOI Build-Up for 2,478 SF
Gross rent
$34.2K $13.80/SF
− Vacancy
−$3.3K −$1.33/SF
EGI
$30.9K $12.47/SF
− OpEx
−$9.3K −$3.74/SF
NOI
$21.6K $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%
$432,640
Cap Rate 7%
$309,029
Cap Rate 9%
$240,356
Alternative Uses
Best Use
Multifamily LT 5
$309.0K
$270.4K – $360.5K
NOI $21,632 @ 7.0% cap · market cap 7.09%
Second Best
Apartment 5plus
$283.4K
$248.0K – $330.7K
NOI $19,840 @ 7.0% cap · market cap 6.50%
Theoretical Best
Office A
$672.9K
$588.8K – $785.0K
NOI $47,102 @ 7.0% cap · market cap 15.44%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
743
Businesses Nearby
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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
Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained duplex with distinct floor plans, public utilities, and a convenient Sioux Falls setting.
Where is this duplex located?
The property is located at 1012 W 8th St St E Sioux Falls, SD.
What is the asking price?
The asking price for this property is $305,000.
What are key features of this property?
This property features: 2,478‑square‑foot duplex on 0.1515 acres; Main‑floor unit has 3 bedrooms and 1 full bathroom; Upper unit includes 2 bedrooms and 1 full bathroom
