Side-by-Side
New
For Sale
$549,900
405 E 57th St, Sioux Falls, SD 57108
Both residences are occupied, and each has three bedrooms, three bathrooms, and a two-stall garage.
Property Size3,751 SF
Price / SF$146.60
Days on Market2
Property Features for 405 E 57th St
General Information
Standard status
Active
Size
3,751 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 3BR/3BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
1993
Buildings
1
Tenancy
Multi
Listing Agency:
Hegg, Realtors
Listed By:
Amy Stockberger Real Estate
(605) 501-6622
Source:
Findahomeinsiouxfalls
Added: Oct 14
Changed: Oct 15
Last Checked: Oct 15 at 2:15AM
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 3,751-SF duplex comprises two attached residences arranged side by side. Each unit has three bedrooms, three bathrooms, and a two-stall garage. The property was built in 1993, and both units are tenant-occupied; the tenants would like to remain. One residence includes a three-season sunroom, while the other has a deck. Their interiors also have distinct styles, one industrial-modern and one traditional.
An alley runs behind the property, and there are no homes behind the backyard. Banks, grocery stores, restaurants, gas stations, and the interstate are accessible from the location.
An alley runs behind the property, and there are no homes behind the backyard. Banks, grocery stores, restaurants, gas stations, and the interstate are accessible from the location.
Key Highlights
- Two side‑by‑side units, each with 3 bedrooms, 3 bathrooms, and a 2‑stall garage
- 3,751 SF duplex built in 1993
- Both units are tenant‑occupied; tenants would like to stay
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,745
Cap Rate
5.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$654,900
$654.9K
Cap Rate 7%
$467,786
$467.8K
Cap Rate 9%
$363,833
$363.8K
Market Conditions
NOI Build-Up for 3,751 SF
Gross rent
$51.8K $13.80/SF
− Vacancy
−$5.0K −$1.33/SF
EGI
$46.8K $12.47/SF
− OpEx
−$14.0K −$3.74/SF
NOI
$32.7K $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 Rate 5%
$654,900
Cap Rate 7%
$467,786
Cap Rate 9%
$363,833
Alternative Uses
Best Use
Multifamily LT 5
$467.8K
$409.3K – $545.8K
NOI $32,745 @ 7.0% cap · market cap 5.95%
Second Best
Apartment 5plus
$429.0K
$375.4K – $500.5K
NOI $30,032 @ 7.0% cap · market cap 5.46%
Theoretical Best
Office A
$1.02M
$891.2K – $1.19M
NOI $71,299 @ 7.0% cap · market cap 12.97%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
271
Businesses Nearby
Explore this area
Business Placement
Demographics for 57108, SD
31,953
Population
13,933
Households
2.3
Avg Household Size
36
Median Age
54%
College-Educated
97%
High-School Grad
30.4 sq mi
ZIP Area
1,051
Density / Sq Mi
$96,184
Median Household Income
$51,749
Median Earnings
$1,292
Median Rent
$401,300
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 - Both residences are occupied, and each has three bedrooms, three bathrooms, and a two-stall garage.
Where is this duplex located?
The property is located at 405 E 57th St Sioux Falls, SD.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Two side‑by‑side units, each with 3 bedrooms, 3 bathrooms, and a 2‑stall garage; 3,751 SF duplex built in 1993; Both units are tenant‑occupied; tenants would like to stay
