Updated Mobile Home in
For Sale
$78,000
1980 Lot #33 Country Road Rapid, Rapid City, SD 57701
Move-in ready 3 bed, 2 bath mobile home for sale.
Property Size990 SF
Days on Market283
Property Features for 1980 Lot #33 Country Road Rapid
General Information
Standard status
Active
Size
990 SF
Property subtype
Manufactured Home
Amenities
Heating: Natural Gas
Metal
Building Details
Building Size
990 SF
Year Built
1989
Listing Agency:
Keller Williams Realty Black Hills
(605) 415-6636
Listed By:
Kera Williams · License #16654
(605) 415-6636
Source:
Kw
Added: Nov 10, 2025
Changed: Aug 11
Last Checked: Aug 18 at 10:36PM
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 Keller Williams Realty Black Hills
Investment Insights
Based on property information with market context.
This move-in ready mobile home, built in 1989 and recently updated, is located on a rented lot in an established neighborhood in North Rapid City. The home features 3 bedrooms, 2 bathrooms, and 990 square feet. The open-concept living space is centrally located, with sleeping quarters on either end of the home. Fresh interior paint, updated light fixtures, and new flooring contribute to the move-in ready condition. The living room offers subtle vaulted ceilings and large windows for natural light. The kitchen provides ample cabinet and counter space, stainless steel appliances, a breakfast bar, and a cozy dining area. Two bedrooms and one bathroom are situated on one end of the home, while the primary bedroom, featuring 3 closets and an ensuite bathroom, is located on the other end for privacy. A convenient laundry room includes storage space and a door to the backyard. Outdoor features include a wood deck off the front of the home and a pergola-covered ground-level patio. The flat interior lot includes a fenced yard with a mature tree for shade and privacy, as well as a shed for outdoor storage. There is a designated parking area for 2 vehicles. The property is located in a quiet neighborhood with easy access to local businesses and I-90. The lot rent is $583 per month and includes water, sewer, and garbage.
Key Highlights
- Move‑in ready condition with recent updates including fresh paint, new flooring, and updated light fixtures.
- Three bedrooms and two bathrooms, with a primary bedroom suite offering privacy.
- Open concept living space with vaulted ceilings and large windows providing natural light.**
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
$7,025
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
9.01%
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%
$140,500
$140.5K
Cap Rate 7%
$100,357
$100.4K
Cap Rate 9%
$78,056
$78.1K
Market Conditions
NOI Build-Up for 990 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
$13.3K $13.44/SF
− Vacancy
−$532 −$0.54/SF
EGI
$12.8K $12.90/SF
− OpEx
−$5.7K −$5.81/SF
NOI
$7.0K $7.10/SF
Area
Pennington County, SD
Vacancy
4.00%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
45.00%
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%
$140,500
Cap Rate 7%
$100,357
Cap Rate 9%
$78,056
Alternative Uses
Best Use
Apartment 5plus
$100.4K
$87.8K – $117.1K
NOI $7,025 @ 7.0% cap · market cap 9.01%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$179.5K
$157.0K – $209.4K
NOI $12,563 @ 7.0% cap · market cap 16.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
16
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mobile home & RV park - Move-in ready 3 bed, 2 bath mobile home for sale.
Where is this mobile home & rv park located?
The property is located at 1980 Lot #33 Country Road Rapid Rapid City, SD.
What is the asking price?
The asking price for this property is $78,000.
What are key features of this property?
This property features: Move‑in ready condition with recent updates including fresh paint, new flooring, and updated light fixtures.; Three bedrooms and two bathrooms, with a **primary bedroom suite offering privacy.**; Open concept living space with vaulted ceilings and large windows providing natural light.**
