Updated Duplex with Private
For Sale
$335,000
Pending
202 S Elmwood Ave, Sioux Falls, SD 57104
Two residential units support rental, short-term rental, or owner-occupied use.
Property Size2,288 SF
Days on Market84
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Property Features for 202 S Elmwood Ave
General Information
Standard status
Pending
Size
2,288 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Amenities
gazebo
storage shed
Building Details
Year Built
1973
Buildings
1
Listing Agency:
Hegg, Realtors
Listed By:
Amy Stockberger Real Estate
(605) 501-6622
Source:
Findahomeinsiouxfalls
Added: Jul 24
Changed: Oct 15
Last Checked: Oct 14 at 10:57PM
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 2,288-square-foot duplex, built in 1973, contains two similarly configured units. Each offers 3 bedrooms, 1 bathroom, a living room, dining room, kitchen, and built-in dining nook. Separate entrances provide functional privacy between the upper and lower levels.
Recent improvements include a tiled downstairs bathroom, refreshed flooring in the lower kitchen, updated landscaping, and a new AC unit serving the upstairs unit. Exterior amenities include an oversized 40' x 50' parking pad that also functions as a basketball court, along with a gazebo and storage shed. The layout supports short-term rental, long-term rental, or owner-occupied use.
Recent improvements include a tiled downstairs bathroom, refreshed flooring in the lower kitchen, updated landscaping, and a new AC unit serving the upstairs unit. Exterior amenities include an oversized 40' x 50' parking pad that also functions as a basketball court, along with a gazebo and storage shed. The layout supports short-term rental, long-term rental, or owner-occupied use.
Key Highlights
- 2,288‑square‑foot duplex with two residential units
- Each unit includes 3 bedrooms, 1 bathroom, living room, dining room, and kitchen
- Separate entrances serve the upper and lower levels
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,974
Cap Rate
5.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$399,480
$399.5K
Cap Rate 7%
$285,343
$285.3K
Cap Rate 9%
$221,933
$221.9K
Market Conditions
NOI Build-Up for 2,288 SF
Gross rent
$31.6K $13.80/SF
− Vacancy
−$3.0K −$1.33/SF
EGI
$28.5K $12.47/SF
− OpEx
−$8.6K −$3.74/SF
NOI
$20.0K $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%
$399,480
Cap Rate 7%
$285,343
Cap Rate 9%
$221,933
Alternative Uses
Best Use
Multifamily LT 5
$285.3K
$249.7K – $332.9K
NOI $19,974 @ 7.0% cap · market cap 5.96%
Second Best
Apartment 5plus
$261.7K
$229.0K – $305.3K
NOI $18,319 @ 7.0% cap · market cap 5.47%
Theoretical Best
Office A
$621.3K
$543.6K – $724.8K
NOI $43,490 @ 7.0% cap · market cap 12.98%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
586
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
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units support rental, short-term rental, or owner-occupied use.
Where is this duplex located?
The property is located at 202 S Elmwood Ave Sioux Falls, SD.
What is the asking price?
The asking price for this property is $335,000.
What are key features of this property?
This property features: 2,288‑square‑foot duplex with two residential units; Each unit includes 3 bedrooms, 1 bathroom, living room, dining room, and kitchen; Separate entrances serve the upper and lower levels
