Side-by-Side
For Sale
$315,000
Pending
5014 W 47 St, Sioux Falls, SD 57106
MULTI-FAMILY, Sioux Falls, SD
Property Size1,712 SF
Lot Size0.21 Acres
Days on Market36
Property Features for 5014 W 47 St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Not Verified
Rooms
Basement
Appliances
Range, Refrigerator
Subdivision
Covington Heights Addn
Elementary school
John F. Kennedy ES
Middle school
Memorial MS
High school
Roosevelt HS
Elementary school district
Sioux Falls
Middle school district
SiouxFalls
High school district
SiouxFalls
Directions
E of S Cathy on W 47th
Standard status
Pending
APN
29287
Size
1,712 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Description
Lot 4, Block 3, Covington Heights Addn to City of Sioux Falls
Tax Annual Amount
3654
Legal Description
Lot 4, Block 3, Covington Heights Addn to City of Sioux Falls
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Electric
Water source
Public
Building Details
Year built
1973
Floors in Building
1
Number of units
2
Flooring type
Vinyl, Carpet
Building materials
Vinyl Siding
Roof type
Composition
Listing Agency:
Realty Center
Listed By:
Daryl Skancke
(605) 334-0400
Added: Aug 13
Changed: Sep 15
Last Checked: Sep 17 at 2:06AM
MLS# 22607151
Copyright © 2026 Realtor Association of the Sioux Empire MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This side-by-side duplex offers 1,712 square feet across two connected residential units on a 0.212-acre lot. The property was built in 1973 and features vinyl siding, composition roofing, vinyl and carpet flooring, natural-gas forced-air heat, and electric cooling. Each unit is equipped with a refrigerator and range, while the property includes a basement.
Located in Sioux Falls, the property is served by public water and public sewer. The sale is offered as-is, with the property identified as an estate asset.
Located in Sioux Falls, the property is served by public water and public sewer. The sale is offered as-is, with the property identified as an estate asset.
Key Highlights
- Side‑by‑side duplex with 1,712 square feet
- 0.212‑acre lot in Sioux Falls
- Built in 1973
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
$14,945
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
4.74%
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%
$298,900
$298.9K
Cap Rate 7%
$213,500
$213.5K
Cap Rate 9%
$166,056
$166.1K
Market Conditions
NOI Build-Up for 1,712 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
$23.6K $13.80/SF
− Vacancy
−$2.3K −$1.33/SF
EGI
$21.4K $12.47/SF
− OpEx
−$6.4K −$3.74/SF
NOI
$14.9K $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 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%
$298,900
Cap Rate 7%
$213,500
Cap Rate 9%
$166,056
Alternative Uses
Best Use
Multifamily LT 5
$213.5K
$186.8K – $249.1K
NOI $14,945 @ 7.0% cap · market cap 4.74%
Second Best
Apartment 5plus
$195.8K
$171.3K – $228.5K
NOI $13,707 @ 7.0% cap · market cap 4.35%
Theoretical Best
Office A
$464.9K
$406.8K – $542.4K
NOI $32,542 @ 7.0% cap · market cap 10.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
416
Businesses Nearby
Explore this area
Business Placement
Demographics for 57106, SD
47,877
Population
21,722
Households
2.2
Avg Household Size
35
Median Age
35%
College-Educated
93%
High-School Grad
30.3 sq mi
ZIP Area
1,580
Density / Sq Mi
$77,070
Median Household Income
$47,554
Median Earnings
$996
Median Rent
$268,800
Median Home Value
Check the figures for this property
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-unit residential property with separate side-by-side layouts and public utilities in Sioux Falls.
Where is this duplex located?
The property is located at 5014 W 47 St Sioux Falls, SD.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Side‑by‑side duplex with 1,712 square feet; 0.212‑acre lot in Sioux Falls; Built in 1973
