Townhome-Style
For Sale
$520,000
1915 N Mable Ave, Sioux Falls, SD 57103
Three income-producing residences share a separate two-stall garage and flexible site area.
Property Size3,808 SF
Price / SF$136.55
Days on Market241
Property Features for 1915 N Mable Ave
General Information
Standard status
Active
Size
3,808 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
3 x 3BR/1.5BA
Multifamily Units
3
Building Details
Year Built
1974
Listing Agency:
Real Broker LLC
(605) 231-0809
Listed By:
Nicholas Blau
Source:
Siouxfallsareahomesearch
Added: Jan 2
Changed: Aug 29
Last Checked: Aug 30 at 6:13PM
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 Real Broker LLC
Investment Insights
Based on property information with market context.
This 3,808-square-foot triplex contains three townhome-style units, each with 3 bedrooms, 1.5 bathrooms, and an open functional layout. The property was built in 1974 and includes a two-stall garage that can be rented independently from the residences. Additional land on the large lot provides further site flexibility. Located at 1915 N Mable Ave in Sioux Falls, the asset combines a defined three-unit configuration with separate garage space and residential income potential.
Key Highlights
- Three townhome‑style units, each with 3 bedrooms and 1.5 bathrooms
- 3,808 square feet across the triplex
- Two‑stall garage offers separate rental potential
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
$33,243
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
6.39%
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%
$664,860
$664.9K
Cap Rate 7%
$474,900
$474.9K
Cap Rate 9%
$369,367
$369.4K
Market Conditions
NOI Build-Up for 3,808 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
$52.6K $13.80/SF
− Vacancy
−$5.1K −$1.33/SF
EGI
$47.5K $12.47/SF
− OpEx
−$14.2K −$3.74/SF
NOI
$33.2K $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%
$664,860
Cap Rate 7%
$474,900
Cap Rate 9%
$369,367
Alternative Uses
Best Use
Multifamily LT 5
$474.9K
$415.5K – $554.1K
NOI $33,243 @ 7.0% cap · market cap 6.39%
Second Best
Apartment 5plus
$435.6K
$381.1K – $508.2K
NOI $30,489 @ 7.0% cap · market cap 5.86%
Theoretical Best
Office A
$1.03M
$904.8K – $1.21M
NOI $72,382 @ 7.0% cap · market cap 13.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
155
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three income-producing residences share a separate two-stall garage and flexible site area.
Where is this triplex located?
The property is located at 1915 N Mable Ave Sioux Falls, SD.
What is the asking price?
The asking price for this property is $520,000.
What are key features of this property?
This property features: Three townhome‑style units, each with 3 bedrooms and 1.5 bathrooms; 3,808 square feet across the triplex; Two‑stall garage offers separate rental potential
