Renovated
New
For Sale
$150,000
3028 N Van Eps Ave, Sioux Falls, SD 57104
Two separate one-bedroom homes offer a straightforward rental configuration.
Property Size1,132 SF
Price / SF$132.51
Days on Market4
Property Features for 3028 N Van Eps Ave
General Information
Standard status
Active
Size
1,132 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1935
Listing Agency:
Hegg, Realtors
Listed By:
Amy Stockberger Real Estate
(605) 501-6622
Source:
Findahomeinsiouxfalls
Added: Oct 2
Changed: Oct 4
Last Checked: Oct 5 at 7:04PM
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 renovated duplex contains 1,132 square feet, with one bedroom and one bathroom on each side. The basement may allow for a second bedroom. Both furnaces and air-conditioning units were replaced in 2023; one water heater and a foundation wall were addressed in 2025. The building dates to 1935.
The property is just north of Downtown Sioux Falls.
The property is just north of Downtown Sioux Falls.
Key Highlights
- Two units, each with 1 bedroom and 1 bathroom
- 1,132 square feet in a 1935 building
- Basement offers potential for a second bedroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,882
Cap Rate
6.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$197,640
$197.6K
Cap Rate 7%
$141,171
$141.2K
Cap Rate 9%
$109,800
$109.8K
Market Conditions
NOI Build-Up for 1,132 SF
Gross rent
$15.6K $13.80/SF
− Vacancy
−$1.5K −$1.33/SF
EGI
$14.1K $12.47/SF
− OpEx
−$4.2K −$3.74/SF
NOI
$9.9K $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%
$197,640
Cap Rate 7%
$141,171
Cap Rate 9%
$109,800
Alternative Uses
Best Use
Multifamily LT 5
$141.2K
$123.5K – $164.7K
NOI $9,882 @ 7.0% cap · market cap 6.59%
Second Best
Apartment 5plus
$129.5K
$113.3K – $151.1K
NOI $9,063 @ 7.0% cap · market cap 6.04%
Theoretical Best
Office A
$307.4K
$269.0K – $358.6K
NOI $21,517 @ 7.0% cap · market cap 14.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
192
Businesses Nearby
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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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Cap Rate, Value Estimation, Potential NOI and more
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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 separate one-bedroom homes offer a straightforward rental configuration.
Where is this duplex located?
The property is located at 3028 N Van Eps Ave Sioux Falls, SD.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: Two units, each with 1 bedroom and 1 bathroom; 1,132 square feet in a 1935 building; Basement offers potential for a second bedroom
