Updated Duplex with Attached
For Sale
$325,000
1500 E 11th St, Sioux Falls, SD 57103
Two-level income property with separately metered utilities and a renovated lower unit.
Property Size1,915 SF
Price / SF$169.71
Days on Market76
Property Features for 1500 E 11th St
General Information
Standard status
Active
Size
1,915 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Amenities
in-unit laundry
Building Details
Year Built
1976
Listing Agency:
Hegg, Realtors
Listed By:
Amy Stockberger Real Estate
(605) 501-6622
Source:
Findahomeinsiouxfalls
Added: Aug 1
Changed: Oct 15
Last Checked: Oct 14 at 10:40PM
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.
This 1,915-square-foot up-and-down duplex was built in 1976 and includes two residences, each with 2 bedrooms, 1 bathroom, and in-unit laundry. Both units share a 2-stall attached garage. The lower residence has updated appliances, granite countertops, and a tile backsplash, while the upper residence remains functional and well maintained. One unit has a newer mini-split system, and updated boilers serve both residences.
Recent exterior work includes a new roof, refreshed paint, and new landscaping. Water, sewer, gas, and electric service are separately metered, allowing each unit to have its own utility billing. The property is located at 1500 E 11th St in Sioux Falls, near downtown.
Recent exterior work includes a new roof, refreshed paint, and new landscaping. Water, sewer, gas, and electric service are separately metered, allowing each unit to have its own utility billing. The property is located at 1500 E 11th St in Sioux Falls, near downtown.
Key Highlights
- 1,915‑square‑foot duplex built in 1976
- Each unit includes 2 bedrooms, 1 bathroom, and in‑unit laundry
- Shared 2‑stall attached garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,717
Cap Rate
5.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$334,340
$334.3K
Cap Rate 7%
$238,814
$238.8K
Cap Rate 9%
$185,744
$185.7K
Market Conditions
NOI Build-Up for 1,915 SF
Gross rent
$26.4K $13.80/SF
− Vacancy
−$2.5K −$1.33/SF
EGI
$23.9K $12.47/SF
− OpEx
−$7.2K −$3.74/SF
NOI
$16.7K $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%
$334,340
Cap Rate 7%
$238,814
Cap Rate 9%
$185,744
Alternative Uses
Best Use
Multifamily LT 5
$238.8K
$209.0K – $278.6K
NOI $16,717 @ 7.0% cap · market cap 5.14%
Second Best
Apartment 5plus
$219.0K
$191.7K – $255.5K
NOI $15,332 @ 7.0% cap · market cap 4.72%
Theoretical Best
Office A
$520.0K
$455.0K – $606.7K
NOI $36,400 @ 7.0% cap · market cap 11.20%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
667
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
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-level income property with separately metered utilities and a renovated lower unit.
Where is this duplex located?
The property is located at 1500 E 11th St Sioux Falls, 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: 1,915‑square‑foot duplex built in 1976; Each unit includes 2 bedrooms, 1 bathroom, and in‑unit laundry; Shared 2‑stall attached garage
