Duplex with Four-Stall
New
For Sale
$405,000
3204 S Kiwanis Ave, Sioux Falls, SD 57105
Two three-bedroom residences each include an unfinished basement and separate utility responsibility for tenants.
Property Size3,072 SF
Lot Size0.28 Acres
Price / SF$131.84
Days on Market4
Property Features for 3204 S Kiwanis Ave
General Information
Standard status
Active
Size
3,072 SF
Total Parking Spaces
4
Lot size
0.28 Acres
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/1.5BA
Multifamily Units
2
Building Details
Year Built
1968
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 6:30PM
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 duplex contains two units, each with 3 bedrooms, 1.5 bathrooms, and 1,536 SF of finished living area. Both also have a 768 SF unfinished basement. A detached four-stall garage sits on the 0.28-acre property. The building dates to 1968, with west-facing windows replaced in 2025, exterior paint updated in 2024, a roof from 2022, and an AC unit installed in 2019.
The property is across from O'Gorman High School and one block from 41st Street. Tenants pay utilities and are responsible for lawn care and snow removal.
The property is across from O'Gorman High School and one block from 41st Street. Tenants pay utilities and are responsible for lawn care and snow removal.
Key Highlights
- Two units, each with 3 bedrooms, 1.5 bathrooms, and 1,536 SF of finished living space
- Each unit includes a 768 SF unfinished basement
- Detached four‑stall garage on a 0.28‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,818
Cap Rate
6.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$536,360
$536.4K
Cap Rate 7%
$383,114
$383.1K
Cap Rate 9%
$297,978
$298.0K
Market Conditions
NOI Build-Up for 3,072 SF
Gross rent
$42.4K $13.80/SF
− Vacancy
−$4.1K −$1.33/SF
EGI
$38.3K $12.47/SF
− OpEx
−$11.5K −$3.74/SF
NOI
$26.8K $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%
$536,360
Cap Rate 7%
$383,114
Cap Rate 9%
$297,978
Alternative Uses
Best Use
Multifamily LT 5
$383.1K
$335.2K – $447.0K
NOI $26,818 @ 7.0% cap · market cap 6.62%
Second Best
Apartment 5plus
$351.4K
$307.5K – $409.9K
NOI $24,596 @ 7.0% cap · market cap 6.07%
Theoretical Best
Office A
$834.2K
$729.9K – $973.2K
NOI $58,393 @ 7.0% cap · market cap 14.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
977
Businesses Nearby
Explore this area
Business Placement
Demographics for 57105, SD
22,635
Population
10,550
Households
2.1
Avg Household Size
36
Median Age
44%
College-Educated
97%
High-School Grad
7.5 sq mi
ZIP Area
3,018
Density / Sq Mi
$74,066
Median Household Income
$43,271
Median Earnings
$956
Median Rent
$247,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Duplex - Two three-bedroom residences each include an unfinished basement and separate utility responsibility for tenants.
Where is this duplex located?
The property is located at 3204 S Kiwanis Ave Sioux Falls, SD.
What is the asking price?
The asking price for this property is $405,000.
What are key features of this property?
This property features: Two units, each with 3 bedrooms, 1.5 bathrooms, and 1,536 SF of finished living space; Each unit includes a 768 SF unfinished basement; Detached four‑stall garage on a 0.28‑acre lot
