Occupied Duplex with Garage
For Sale
$219,000
2700 E 12th St, Sioux Falls, SD 57103
Fully leased two-unit property with independent entrances and electric meters on a corner lot.
Property Size1,260 SF
Price / SF$173.81
Days on Market16
Property Features for 2700 E 12th St
General Information
Standard status
Active
Size
1,260 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Additional Details
Gross Income
$27,475
Building Details
Year Built
1930
Buildings
1
Listing Agency:
The Experience Real Estate
(605) 501-6622
Listed By:
Amy Stockberger Real Estate
(605) 501-6622
Source:
Findahomeinsiouxfalls
Added: Aug 15
Changed: Aug 28
Last Checked: Aug 29 at 9:05AM
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 The Experience Real Estate
Investment Insights
Based on property information with market context.
Built in 1930, this 1,260-square-foot duplex contains two separate units, each arranged with 1 bedroom and 1 bathroom. Independent entrances and separate electric meters support distinct unit access and utility management. The property is being sold as-is, with both units occupied at closing.
Situated at 2700 E 12th St in Sioux Falls, the duplex occupies a corner lot with room for a detached garage. Concept renderings are available for the garage addition, providing a defined starting point for evaluating that improvement. The combination of existing occupancy, separated utilities, and a two-unit layout offers a straightforward residential income property configuration.
Situated at 2700 E 12th St in Sioux Falls, the duplex occupies a corner lot with room for a detached garage. Concept renderings are available for the garage addition, providing a defined starting point for evaluating that improvement. The combination of existing occupancy, separated utilities, and a two-unit layout offers a straightforward residential income property configuration.
Key Highlights
- Two‑unit duplex with both units currently occupied
- Each unit includes 1 bedroom and 1 bathroom
- 1,260 square feet; built in 1930
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
$10,999
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
5.02%
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%
$219,980
$220.0K
Cap Rate 7%
$157,129
$157.1K
Cap Rate 9%
$122,211
$122.2K
Market Conditions
NOI Build-Up for 1,260 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
$17.4K $13.80/SF
− Vacancy
−$1.7K −$1.33/SF
EGI
$15.7K $12.47/SF
− OpEx
−$4.7K −$3.74/SF
NOI
$11.0K $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%
$219,980
Cap Rate 7%
$157,129
Cap Rate 9%
$122,211
Alternative Uses
Best Use
Multifamily LT 5
$157.1K
$137.5K – $183.3K
NOI $10,999 @ 7.0% cap · market cap 5.02%
Second Best
Apartment 5plus
$144.1K
$126.1K – $168.1K
NOI $10,088 @ 7.0% cap · market cap 4.61%
Theoretical Best
Office A
$342.1K
$299.4K – $399.2K
NOI $23,950 @ 7.0% cap · market cap 10.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
384
Businesses Nearby
Explore this area
Business Placement
Demographics for 57103, SD
36,069
Population
15,326
Households
2.4
Avg Household Size
37
Median Age
33%
College-Educated
91%
High-School Grad
9.5 sq mi
ZIP Area
3,797
Density / Sq Mi
$73,945
Median Household Income
$43,661
Median Earnings
$938
Median Rent
$244,800
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 - Fully leased two-unit property with independent entrances and electric meters on a corner lot.
Where is this duplex located?
The property is located at 2700 E 12th St Sioux Falls, SD.
What is the asking price?
The asking price for this property is $219,000.
What are key features of this property?
This property features: Two‑unit duplex with both units currently occupied; Each unit includes 1 bedroom and 1 bathroom; 1,260 square feet; built in 1930
