Updated Two-Unit
For Sale
$329,000
616 618 N Garfield Ave, Sioux Falls, SD 57104
Well-maintained duplex with separate utility metering, attached garages, private laundry, and fenced outdoor space.
Property Size2,082 SF
Price / SF$158.02
Days on Market134
Property Features for 616 618 N Garfield Ave
General Information
Standard status
Active
Size
2,082 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Amenities
in-unit laundry
attached garage
deck
fenced backyard
Building Details
Year Built
1978
Listing Agency:
Amy Stockberger Real Estate
Listed By:
Brandyn Vetos
(712) 898-5028
Source:
Siouxfallsareahomesearch
Added: Jun 6
Changed: Oct 1
Last Checked: Oct 16 at 8:52AM
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 Amy Stockberger Real Estate
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Investment Insights
Based on property information with market context.
This 1978 duplex contains two 3-bedroom, 1-bath residences totaling 2,082 square feet. Each unit includes a private laundry area and attached garage, while separate metering allows occupants to pay their own electricity and heat. The property has received several recent improvements, including new vinyl flooring and interior paint throughout in 2025.
The upper residence opens to a newer 12x12 deck completed in 2022, and the backyard is fully fenced. The property is located near the Denny Sanford Premier Center, Canaries baseball games, Thunder Road, and a range of restaurants. Its two-unit configuration supports both portfolio ownership and an owner-occupant arrangement with one residence rented.
The upper residence opens to a newer 12x12 deck completed in 2022, and the backyard is fully fenced. The property is located near the Denny Sanford Premier Center, Canaries baseball games, Thunder Road, and a range of restaurants. Its two-unit configuration supports both portfolio ownership and an owner-occupant arrangement with one residence rented.
Key Highlights
- Two 3‑bedroom, 1‑bath units totaling 2,082 square feet
- Separate metering for electricity and heat
- Attached garage and private laundry for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,175
Cap Rate
5.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$363,500
$363.5K
Cap Rate 7%
$259,643
$259.6K
Cap Rate 9%
$201,944
$201.9K
Market Conditions
NOI Build-Up for 2,082 SF
Gross rent
$28.7K $13.80/SF
− Vacancy
−$2.8K −$1.33/SF
EGI
$26.0K $12.47/SF
− OpEx
−$7.8K −$3.74/SF
NOI
$18.2K $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 Rate 5%
$363,500
Cap Rate 7%
$259,643
Cap Rate 9%
$201,944
Alternative Uses
Best Use
Multifamily LT 5
$259.6K
$227.2K – $302.9K
NOI $18,175 @ 7.0% cap · market cap 5.52%
Second Best
Apartment 5plus
$238.1K
$208.4K – $277.8K
NOI $16,670 @ 7.0% cap · market cap 5.07%
Theoretical Best
Office A
$565.4K
$494.7K – $659.6K
NOI $39,575 @ 7.0% cap · market cap 12.03%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
497
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained duplex with separate utility metering, attached garages, private laundry, and fenced outdoor space.
Where is this duplex located?
The property is located at 616 618 N Garfield Ave Sioux Falls, SD.
What is the asking price?
The asking price for this property is $329,000.
What are key features of this property?
This property features: Two 3‑bedroom, 1‑bath units totaling 2,082 square feet; Separate metering for electricity and heat; Attached garage and private laundry for each unit
