Furnished Duplex with New
For Sale
$299,900
202 N French Ave, Sioux Falls, SD 57103
Two residential units support a mix of mid-term and long-term rental arrangements with furnished interiors and utilities included.
Property Size1,000 SF
Price / SF$299.90
Days on Market239
Property Features for 202 N French Ave
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Multi-Family
Additional Details
Furnished
Yes
Multifamily Units
2
Building Details
Year Built
1916
Listing Agency:
Gateway Real Estate Advisors
(712) 739-0830
Listed By:
Daniel Stillson · License #S73739000
Source:
Siouxfallsareahomesearch
Added: Jan 4
Changed: Aug 30
Last Checked: Aug 30 at 8:48PM
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 Gateway Real Estate Advisors
Investment Insights
Based on property information with market context.
Located at 202 N French Ave in Sioux Falls, this duplex contains two residential units and is configured for flexible rental use. Both residences are furnished, and utilities are included in the rent. The property is currently operated with one mid-term and one long-term rental strategy.
A new roof was installed in 2022, updating a major building component. Built in 1916, the property offers an established residential structure in Sioux Falls, SD, with furnishings and utility-inclusive rental arrangements already in place.
A new roof was installed in 2022, updating a major building component. Built in 1916, the property offers an established residential structure in Sioux Falls, SD, with furnishings and utility-inclusive rental arrangements already in place.
Key Highlights
- Two residential units in a duplex configuration
- Both units are fully furnished
- Current rental strategy combines mid‑term and long‑term occupancy
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
$8,730
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
2.91%
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%
$174,600
$174.6K
Cap Rate 7%
$124,714
$124.7K
Cap Rate 9%
$97,000
$97.0K
Market Conditions
NOI Build-Up for 1,000 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
$13.8K $13.80/SF
− Vacancy
−$1.3K −$1.33/SF
EGI
$12.5K $12.47/SF
− OpEx
−$3.7K −$3.74/SF
NOI
$8.7K $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 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%
$174,600
Cap Rate 7%
$124,714
Cap Rate 9%
$97,000
Alternative Uses
Best Use
Multifamily LT 5
$124.7K
$109.1K – $145.5K
NOI $8,730 @ 7.0% cap · market cap 2.91%
Second Best
Apartment 5plus
$114.4K
$100.1K – $133.5K
NOI $8,007 @ 7.0% cap · market cap 2.67%
Theoretical Best
Office A
$271.5K
$237.6K – $316.8K
NOI $19,008 @ 7.0% cap · market cap 6.34%
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
1,248
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units support a mix of mid-term and long-term rental arrangements with furnished interiors and utilities included.
Where is this duplex located?
The property is located at 202 N French Ave Sioux Falls, SD.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Two residential units in a duplex configuration; Both units are fully furnished; Current rental strategy combines mid‑term and long‑term occupancy
