Triplex with Updated
For Sale
$229,000
Pending
710 Haines Avenue, Rapid City, SD 57701
Three-unit residential income property near downtown with separate utility metering and tenant parking.
Property Size2,352 SF
Days on Market573
Property Features for 710 Haines Avenue
General Information
Standard status
Pending
Size
2,352 SF
Property subtype
Multi Family
Additional Details
Utilities to Site
Yes
Multifamily Units
3
Building Details
Year Built
1954
Buildings
1
Listing Agency:
The Real Estate Group Rapid City
(605) 343-8800
Listed By:
John Roberts · License #3329338
(605) 484-9747
Source:
Exitrealty
Added: Mar 27, 2025
Changed: Oct 3
Last Checked: Oct 16 at 7:13AM
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 Real Estate Group Rapid City
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Investment Insights
Based on property information with market context.
This 2,352-square-foot triplex was constructed in 1954 and includes three residential units. The property received a new roof and siding in 2020, while some windows and decking were replaced in 2023. Electrical meters serve each unit, and each unit also has its own gas meter.
Located near downtown Rapid City, the property provides off-street parking for tenants. Recent exterior and building-system work includes the 2020 roof and siding replacement, along with the 2023 window and decking improvements.
Located near downtown Rapid City, the property provides off-street parking for tenants. Recent exterior and building-system work includes the 2020 roof and siding replacement, along with the 2023 window and decking improvements.
Key Highlights
- Three‑unit property totaling 2,352 square feet
- New roof and siding completed in 2020
- Individual electrical and gas meters serve all three units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,924
Cap Rate
7.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$358,480
$358.5K
Cap Rate 7%
$256,057
$256.1K
Cap Rate 9%
$199,156
$199.2K
Market Conditions
NOI Build-Up for 2,352 SF
Gross rent
$26.8K $11.40/SF
− Vacancy
−$1.2K −$0.51/SF
EGI
$25.6K $10.89/SF
− OpEx
−$7.7K −$3.27/SF
NOI
$17.9K $7.62/SF
Area
Pennington County, SD
Vacancy
4.50%
Lease Rate
$11.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$358,480
Cap Rate 7%
$256,057
Cap Rate 9%
$199,156
Alternative Uses
Best Use
Multifamily LT 5
$256.1K
$224.1K – $298.7K
NOI $17,924 @ 7.0% cap · market cap 7.83%
Second Best
Apartment 5plus
$238.4K
$208.6K – $278.2K
NOI $16,691 @ 7.0% cap · market cap 7.29%
Theoretical Best
Specialty Retail
$426.4K
$373.1K – $497.5K
NOI $29,847 @ 7.0% cap · market cap 13.03%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
422
Businesses Nearby
Explore this area
Business Placement
Demographics for 57701, SD
46,258
Population
20,526
Households
2.3
Avg Household Size
36
Median Age
28%
College-Educated
93%
High-School Grad
52.2 sq mi
ZIP Area
886
Density / Sq Mi
$52,733
Median Household Income
$34,971
Median Earnings
$892
Median Rent
$229,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit residential income property near downtown with separate utility metering and tenant parking.
Where is this triplex located?
The property is located at 710 Haines Avenue Rapid City, SD.
What is the asking price?
The asking price for this property is $229,000.
What are key features of this property?
This property features: Three‑unit property totaling 2,352 square feet; New roof and siding completed in 2020; Individual electrical and gas meters serve all three units
