Renovated Duplex with
For Sale
$165,000
401 E 14th St, Sioux Falls, SD 57104
Two-unit residential property with updated upper-level finishes and dedicated on-site parking for each residence.
Property Size1,338 SF
Price / SF$123.32
Days on Market17
Property Features for 401 E 14th St
General Information
Standard status
Active
Size
1,338 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1900
Listing Agency:
The Experience Real Estate
(605) 501-6622
Listed By:
Amy Stockberger Real Estate
(605) 501-6622
Source:
Findahomeinsiouxfalls
Added: Aug 15
Changed: Aug 30
Last Checked: Aug 30 at 8:37PM
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 The Experience Real Estate
Investment Insights
Based on property information with market context.
This duplex contains 1,338 square feet and was built in 1900. The upper unit has received updates including new windows, flooring, fixtures, and paint, while the exterior has also been freshly painted.
Two separate on-site parking spaces provide one designated space for each unit. The property is located at 401 E 14th St in Sioux Falls, near downtown.
Two separate on-site parking spaces provide one designated space for each unit. The property is located at 401 E 14th St in Sioux Falls, near downtown.
Key Highlights
- 1,338‑square‑foot duplex built in 1900
- Upper unit updated with new windows, flooring, fixtures, and paint
- Two separate on‑site parking spaces, one for each unit
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
$11,680
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
7.08%
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%
$233,600
$233.6K
Cap Rate 7%
$166,857
$166.9K
Cap Rate 9%
$129,778
$129.8K
Market Conditions
NOI Build-Up for 1,338 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
$18.5K $13.80/SF
− Vacancy
−$1.8K −$1.33/SF
EGI
$16.7K $12.47/SF
− OpEx
−$5.0K −$3.74/SF
NOI
$11.7K $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%
$233,600
Cap Rate 7%
$166,857
Cap Rate 9%
$129,778
Alternative Uses
Best Use
Multifamily LT 5
$166.9K
$146.0K – $194.7K
NOI $11,680 @ 7.0% cap · market cap 7.08%
Second Best
Apartment 5plus
$153.0K
$133.9K – $178.6K
NOI $10,713 @ 7.0% cap · market cap 6.49%
Theoretical Best
Office A
$363.3K
$317.9K – $423.9K
NOI $25,433 @ 7.0% cap · market cap 15.41%
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
2,961
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
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-unit residential property with updated upper-level finishes and dedicated on-site parking for each residence.
Where is this duplex located?
The property is located at 401 E 14th St Sioux Falls, SD.
What is the asking price?
The asking price for this property is $165,000.
What are key features of this property?
This property features: 1,338‑square‑foot duplex built in 1900; Upper unit updated with new windows, flooring, fixtures, and paint; Two separate on‑site parking spaces, one for each unit
