Building Details

Year Built 1904

Listing Agency: Keller Williams Realty Sioux Falls

Listed By: Amy Stockberger Real Estate Show Phone

Source: Findahomeinsiouxfalls

Added: Jul 24 Changed: Oct 16 Last Checked: Oct 16 at 9:07AM

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Investment Insights

Based on property information with market context.

This 1,456-square-foot duplex, built in 1904, contains two residential units, each with 2 bedrooms and 1 bathroom. The main-level residence has stainless steel appliances, newer flooring, and fresh interior paint. The upper unit includes a new water heater. Both units feature kitchen cabinetry, ceramic tile backsplashes, and vinyl siding. Fresh paint covers the front porch and garage, while an expanded concrete driveway provides additional off-street parking.

Separate utility meters serve the units, except for water. The property is located minutes from downtown and Avera Hospital, near Cherry Rock Park, and two blocks from the bike trail. The source information projects a 9%+ cap rate.

Key Highlights

• Two‑unit duplex totaling 1,456 square feet
• Each unit includes 2 bedrooms and 1 bathroom
• Main‑level unit updated with stainless steel appliances, new flooring, and fresh paint

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$12,711

Cap Rate

5.65%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$254,220 $254.2K

Cap Rate 7%

$181,586 $181.6K

Cap Rate 9%

$141,233 $141.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,456 SF

Gross rent

$20.1K $13.80/SF

− Vacancy

−$1.9K −$1.33/SF

EGI

$18.2K $12.47/SF

− OpEx

−$5.4K −$3.74/SF

NOI

$12.7K $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%

$254,220

Cap Rate 7%

$181,586

Cap Rate 9%

$141,233

Alternative Uses

Best Use

Multifamily LT 5

$181.6K

$158.9K – $211.9K (±1% cap)

NOI $12,711 @ 7.0% cap · market cap 5.65%

Second Best

Apartment 5plus

$166.5K

$145.7K – $194.3K (±1% cap)

NOI $11,658 @ 7.0% cap · market cap 5.18%

Theoretical Best

Office A

$395.4K

$346.0K – $461.3K (±1% cap)

NOI $27,676 @ 7.0% cap · market cap 12.31%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Law Firm Skin Care Clinic (Bike/Boat/Book/etc) Store HVAC Service Carpet & Flooring Store Computer & Electronic Repair

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,472

Businesses Nearby

Explore this area Business Placement

Demographics for 57104, SD

26,998

Population

13,952

Households

1.9

Avg Household Size

37

Median Age

25%

College-Educated

90%

High-School Grad

30.4 sq mi

ZIP Area

888

Density / Sq Mi

$59,161

Median Household Income

$39,101

Median Earnings

$849

Median Rent

$183,700

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Two residential units offer matching layouts, separate utility metering, and added off-street parking.

Where is this duplex located?

The property is located at 1426 E 17th St Sioux Falls, SD.

What is the asking price?

The asking price for this property is $224,900.

What are key features of this property?

This property features: Two‑unit duplex totaling 1,456 square feet; Each unit includes 2 bedrooms and 1 bathroom; Main‑level unit updated with stainless steel appliances, new flooring, and fresh paint