Updated Duplex with Rented Lower
For Sale
$325,000
625 Saint Cloud St, Rapid City, SD 57701
Upper-level improvements include a new kitchen, carpeting, paint, trim, and flooring, while the lower unit is occupied.
Property Size1,747 SF
Price / SF$186.03
Days on Market685
Property Features for 625 Saint Cloud St
General Information
Standard status
Active
Size
1,747 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1939
Buildings
1
Listing Agency:
South Dakota Properties
(605) 484-7832
Listed By:
Daneen Jacquot-Kulmala
(605) 484-7832
Source:
Exitrealty
Added: Oct 16, 2024
Changed: Aug 30
Last Checked: Aug 30 at 9:50PM
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 South Dakota Properties
Investment Insights
Based on property information with market context.
This duplex at 625 Saint Cloud St in Rapid City includes 1,747 square feet and was built in 1939. The upper unit has received a new kitchen with updated cabinets, counters, and sinks, along with new flooring, carpeting, paint, and trim. Landscaping work and a small retaining wall are also being addressed.
The lower level is currently rented. Tenants pay their own electric and gas, while water, sewer, and garbage costs are divided between the two units. Additional work identified for the property includes completing the basement floor in the kitchen, laundry, and bathroom areas, along with trim work around the replacement tub.
The lower level is currently rented. Tenants pay their own electric and gas, while water, sewer, and garbage costs are divided between the two units. Additional work identified for the property includes completing the basement floor in the kitchen, laundry, and bathroom areas, along with trim work around the replacement tub.
Key Highlights
- Duplex at 625 Saint Cloud St in Rapid City
- 1,747 square feet on an east‑side residential property
- Built in 1939
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
$13,314
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
4.10%
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%
$266,280
$266.3K
Cap Rate 7%
$190,200
$190.2K
Cap Rate 9%
$147,933
$147.9K
Market Conditions
NOI Build-Up for 1,747 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
$19.9K $11.40/SF
− Vacancy
−$896 −$0.51/SF
EGI
$19.0K $10.89/SF
− OpEx
−$5.7K −$3.27/SF
NOI
$13.3K $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 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%
$266,280
Cap Rate 7%
$190,200
Cap Rate 9%
$147,933
Alternative Uses
Best Use
Multifamily LT 5
$190.2K
$166.4K – $221.9K
NOI $13,314 @ 7.0% cap · market cap 4.10%
Second Best
Apartment 5plus
$177.1K
$155.0K – $206.6K
NOI $12,397 @ 7.0% cap · market cap 3.81%
Theoretical Best
Specialty Retail
$316.7K
$277.1K – $369.5K
NOI $22,169 @ 7.0% cap · market cap 6.82%
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
1,425
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
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 - Upper-level improvements include a new kitchen, carpeting, paint, trim, and flooring, while the lower unit is occupied.
Where is this duplex located?
The property is located at 625 Saint Cloud St Rapid City, SD.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Duplex at 625 Saint Cloud St in Rapid City; 1,747 square feet on an east‑side residential property; Built in 1939
