Updated Duplex with Private
For Sale
$370,000
Pending
5100 W 47th St, Sioux Falls, SD 57106
Two-unit property with a three-bedroom residence, a two-bedroom residence, and improvements to major exterior components.
Property Size2,431 SF
Days on Market183
Property Features for 5100 W 47th St
General Information
Standard status
Pending
Size
2,431 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR, 1 x 2BR
Multifamily Units
2
Building Details
Year Built
1973
Listing Agency:
Keller Williams Realty Sioux Falls
(605) 987-5874
Listed By:
Ruth Wiersma · License #SD-12935
Source:
Siouxfallsareahomesearch
Added: Mar 1
Changed: Aug 30
Last Checked: Aug 30 at 6:08PM
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 Keller Williams Realty Sioux Falls
Investment Insights
Based on property information with market context.
This 2,431-square-foot duplex, built in 1973, includes two separate residences with a practical three-bedroom and two-bedroom configuration. The property has received updates including newer shingles, windows, a slider, metal siding, and front porches. A radon mitigation system is also in place.
The units share access to a large backyard that provides separation and privacy. Tenants are responsible for all utilities, supporting a straightforward operating arrangement. Located in Sioux Falls, the property combines a defined unit mix with updated exterior elements and dedicated outdoor space.
The units share access to a large backyard that provides separation and privacy. Tenants are responsible for all utilities, supporting a straightforward operating arrangement. Located in Sioux Falls, the property combines a defined unit mix with updated exterior elements and dedicated outdoor space.
Key Highlights
- 2,431‑square‑foot duplex built in 1973
- Unit mix includes one 3‑bedroom residence and one 2‑bedroom residence
- Tenants pay all utilities
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
$21,222
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
5.74%
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%
$424,440
$424.4K
Cap Rate 7%
$303,171
$303.2K
Cap Rate 9%
$235,800
$235.8K
Market Conditions
NOI Build-Up for 2,431 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
$33.5K $13.80/SF
− Vacancy
−$3.2K −$1.33/SF
EGI
$30.3K $12.47/SF
− OpEx
−$9.1K −$3.74/SF
NOI
$21.2K $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%
$424,440
Cap Rate 7%
$303,171
Cap Rate 9%
$235,800
Alternative Uses
Best Use
Multifamily LT 5
$303.2K
$265.3K – $353.7K
NOI $21,222 @ 7.0% cap · market cap 5.74%
Second Best
Apartment 5plus
$278.1K
$243.3K – $324.4K
NOI $19,464 @ 7.0% cap · market cap 5.26%
Theoretical Best
Office A
$660.1K
$577.6K – $770.1K
NOI $46,208 @ 7.0% cap · market cap 12.49%
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
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
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 property with a three-bedroom residence, a two-bedroom residence, and improvements to major exterior components.
Where is this duplex located?
The property is located at 5100 W 47th St Sioux Falls, SD.
What is the asking price?
The asking price for this property is $370,000.
What are key features of this property?
This property features: 2,431‑square‑foot duplex built in 1973; Unit mix includes one 3‑bedroom residence and one 2‑bedroom residence; Tenants pay all utilities
