Renovated Craftsman
For Sale
$745,000
1308 S Phillips Ave, Sioux Falls, SD 57105
Side-by-side duplex with updated building systems, private-suite layouts, and flexible owner-occupancy or rental use.
Property Size3,508 SF
Price / SF$212.37
Days on Market78
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Property Features for 1308 S Phillips Ave
General Information
Standard status
Active
Size
3,508 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
heated garage
semi-private patio
underground sprinklers
low-maintenance landscaping
Building Details
Year Built
1916
Year Renovated
2015
Buildings
1
Construction
Craftsman
Tenancy
Single
Listing Agency:
Hegg, Realtors
Listed By:
Amy Stockberger Real Estate
(605) 501-6622
Source:
Findahomeinsiouxfalls
Added: Jul 30
Changed: Oct 15
Last Checked: Oct 14 at 11:25PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Hegg, Realtors
Investment Insights
Based on property information with market context.
Built in 1916, this side-by-side duplex pairs Craftsman Four Square architecture with 3,508 square feet of renovated living space. Plumbing, electrical, HVAC, and roofing systems were upgraded in 2015, while original built-ins and other period details remain. Each unit includes two master suites with private baths, a main-level powder room, a custom kitchen with granite counters and stainless-steel appliances, a finished lower-level family room, a sunroom, separate entrances, a mudroom, and substantial storage. One unit is owner-occupied and the other is leased, providing an existing dual-use arrangement.
The property includes a heated 528-square-foot garage with attic storage, a landscaped patio, underground sprinklers, and low-maintenance landscaping. Located at 1308 S Phillips Ave in Sioux Falls, the duplex is two blocks from McKennan Park, one-half mile from the Avera campus, and less than one mile from the Sanford campus. The owner’s unit adds travertine tile, in-floor heating, a fireplace, a wine cellar, and a chef’s gas range with exterior ventilation.
The property includes a heated 528-square-foot garage with attic storage, a landscaped patio, underground sprinklers, and low-maintenance landscaping. Located at 1308 S Phillips Ave in Sioux Falls, the duplex is two blocks from McKennan Park, one-half mile from the Avera campus, and less than one mile from the Sanford campus. The owner’s unit adds travertine tile, in-floor heating, a fireplace, a wine cellar, and a chef’s gas range with exterior ventilation.
Key Highlights
- 3,508‑square‑foot side‑by‑side duplex built in 1916
- 2015 renovation included plumbing, electrical, HVAC, and roofing upgrades
- Each unit has two master suites with private bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,624
Cap Rate
4.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$612,480
$612.5K
Cap Rate 7%
$437,486
$437.5K
Cap Rate 9%
$340,267
$340.3K
Market Conditions
NOI Build-Up for 3,508 SF
Gross rent
$48.4K $13.80/SF
− Vacancy
−$4.7K −$1.33/SF
EGI
$43.7K $12.47/SF
− OpEx
−$13.1K −$3.74/SF
NOI
$30.6K $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%
$612,480
Cap Rate 7%
$437,486
Cap Rate 9%
$340,267
Alternative Uses
Best Use
Multifamily LT 5
$437.5K
$382.8K – $510.4K
NOI $30,624 @ 7.0% cap · market cap 4.11%
Second Best
Apartment 5plus
$401.2K
$351.1K – $468.1K
NOI $28,087 @ 7.0% cap · market cap 3.77%
Theoretical Best
Office A
$952.6K
$833.5K – $1.11M
NOI $66,680 @ 7.0% cap · market cap 8.95%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
266
Businesses Nearby
Explore this area
Business Placement
Demographics for 57105, SD
22,635
Population
10,550
Households
2.1
Avg Household Size
36
Median Age
44%
College-Educated
97%
High-School Grad
7.5 sq mi
ZIP Area
3,018
Density / Sq Mi
$74,066
Median Household Income
$43,271
Median Earnings
$956
Median Rent
$247,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Side-by-side duplex with updated building systems, private-suite layouts, and flexible owner-occupancy or rental use.
Where is this duplex located?
The property is located at 1308 S Phillips Ave Sioux Falls, SD.
What is the asking price?
The asking price for this property is $745,000.
What are key features of this property?
This property features: 3,508‑square‑foot side‑by‑side duplex built in 1916; 2015 renovation included plumbing, electrical, HVAC, and roofing upgrades; Each unit has two master suites with private bathrooms
