New-Construction Duplex with
For Sale
$980,000
1107 S Foss Ave, Sioux Falls, SD 57110
MULTI-FAMILY, Sioux Falls, SD
Property Size5,220 SF
Lot Size0.41 Acres
Price / SF$187.74
Days on Market83
Property Features for 1107 S Foss Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Bedrooms
8
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 4, Bedroom 3, Bathroom 4, Bedroom 5, Bedroom 6, Bedroom 2, Bathroom 1, Bathroom 3, Bathroom 6, Bedroom 7, Basement, Bedroom 1, Bathroom 5, Bathroom 2, Bedroom 8
Appliances
Dishwasher, Disposal, Dryer, Microwave, Range, Refrigerator, Washer
Subdivision
Dawley Farm Village
Elementary school
Rosa Parks ES
Middle school
Ben REifel Middle School
High school
Washington HS
Elementary school district
Sioux Falls
Middle school district
SiouxFalls
High school district
SiouxFalls
Directions
E 18th Street to S Foss Ave, N on Foss to the Duplex
Standard status
Active
APN
96494
Size
5,220 SF
Lot size
0.41 Acres
Taxes and HOA fees
Tax Description
Lot 12 Block 1 Dawley Farm Village Addition To City Of Sioux Falls
Tax Annual Amount
1005
Legal Description
Lot 12 Block 1 Dawley Farm Village Addition To City Of Sioux Falls
Utilities
Sewer type
Public Sewer
Heating system
Floor Furnace, Natural Gas
Cooling system
Electric
Water source
Public
Building Details
Year built
2025
Floors in Building
1
Number of units
2
Flooring type
Tile, Vinyl, Carpet, Heated
Building materials
HardiPlank Type, Stone Veneer
Roof type
Composition
Listing Agency:
CENTURY 21 Advantage · Century 21 Real Estate
(605) 336-2121
Listed By:
David Shelton · License #14836
(605) 336-2121
Added: Jun 4
Changed: Aug 25
Last Checked: Aug 25 at 7:06AM
MLS# 22604052
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.
Under construction for 2025 completion, this duplex contains 5,220 square feet across two ranch-style walkout residences. Each unit offers four bedrooms and three bathrooms, with an open-concept arrangement, vaulted ceilings, and abundant natural light. Quartz countertops, custom cabinetry, and stainless steel appliances anchor the kitchens, while included appliances also comprise a dishwasher, disposal, dryer, microwave, range, refrigerator, and washer.
The property occupies 0.4062 acres at 1107 S Foss Ave in Sioux Falls, within the Dawley Farms Village Addition. Construction includes HardiPlank siding and stone veneer, with tile, vinyl, and carpet flooring. Natural gas heating, electric cooling, public water, and public sewer serve the property. The composition roof and current under-construction condition complete the improvement profile.
The property occupies 0.4062 acres at 1107 S Foss Ave in Sioux Falls, within the Dawley Farms Village Addition. Construction includes HardiPlank siding and stone veneer, with tile, vinyl, and carpet flooring. Natural gas heating, electric cooling, public water, and public sewer serve the property. The composition roof and current under-construction condition complete the improvement profile.
Key Highlights
- Duplex totals 5,220 square feet on 0.4062 acres
- Two ranch‑style walkout residences, each with 4 bedrooms and 3 bathrooms
- Under construction with a 2025 year built
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$45,569
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.65%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$911,380
$911.4K
Cap Rate 7%
$650,986
$651.0K
Cap Rate 9%
$506,322
$506.3K
Market Conditions
NOI Build-Up for 5,220 SF
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.
Gross rent
$72.0K $13.80/SF
− Vacancy
−$6.9K −$1.33/SF
EGI
$65.1K $12.47/SF
− OpEx
−$19.5K −$3.74/SF
NOI
$45.6K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$911,380
Cap Rate 7%
$650,986
Cap Rate 9%
$506,322
Alternative Uses
Best Use
Multifamily LT 5
$651.0K
$569.6K – $759.5K
NOI $45,569 @ 7.0% cap · market cap 4.65%
Second Best
Apartment 5plus
$597.1K
$522.4K – $696.6K
NOI $41,794 @ 7.0% cap · market cap 4.26%
Theoretical Best
Office A
$1.42M
$1.24M – $1.65M
NOI $99,222 @ 7.0% cap · market cap 10.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
618
Businesses Nearby
Explore this area
Business Placement
Demographics for 57110, SD
22,013
Population
9,178
Households
2.4
Avg Household Size
35
Median Age
43%
College-Educated
92%
High-School Grad
20.9 sq mi
ZIP Area
1,053
Density / Sq Mi
$87,114
Median Household Income
$52,202
Median Earnings
$1,018
Median Rent
$365,600
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 - Two ranch-style residences feature open layouts, vaulted ceilings, quartz kitchens, and upgraded stainless steel appliances.
Where is this duplex located?
The property is located at 1107 S Foss Ave Sioux Falls, SD.
What is the asking price?
The asking price for this property is $980,000.
What are key features of this property?
This property features: Duplex totals 5,220 square feet on 0.4062 acres; Two ranch‑style walkout residences, each with 4 bedrooms and 3 bathrooms; Under construction with a 2025 year built
