Two-Unit Duplex with
622 N Garfield Ave, Sioux Falls, SD 57104
For Sale
$253,900
Both residences are vacant and include matching two-bedroom, one-bathroom layouts with attached garages.
Property Size2,128 SF
Price / SF$119.31
Days on Market159
Property Features for 622 N Garfield Ave
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Parking per Unit
Taxes and HOA fees
Annual Taxes
Amenities
large yard
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
Casa Reynoza
(605) 951-8564
Listed By:
Stephanie Ordonez
(605) 496-2692
Source:
Davedaale
Added: Jun 4
Changed: Nov 7
Last Checked: Nov 8 at 3:24PM
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 Casa Reynoza
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Investment Insights
Based on property information with market context.
Built in 1977, this 2,128-square-foot duplex contains two residences, each with two bedrooms, one full bathroom, and an attached two-stall garage. Both units are vacant. The property also includes a large yard.
Key Highlights
- Two‑unit duplex with 2,128 square feet
- Each unit has 2 bedrooms, 1 full bathroom, and an attached 2‑stall garage
- Both residences are vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,577
Cap Rate
7.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$371,540
$371.5K
Cap Rate 7%
$265,386
$265.4K
Cap Rate 9%
$206,411
$206.4K
Market Conditions
NOI Build-Up for 2,128 SF
Gross rent
$29.4K $13.80/SF
− Vacancy
−$2.8K −$1.33/SF
EGI
$26.5K $12.47/SF
− OpEx
−$8.0K −$3.74/SF
NOI
$18.6K $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%
$371,540
Cap Rate 7%
$265,386
Cap Rate 9%
$206,411
Alternative Uses
Best Use
Multifamily LT 5
$265.4K
$232.2K – $309.6K
NOI $18,577 @ 7.0% cap · market cap 7.32%
Second Best
Apartment 5plus
$243.4K
$213.0K – $284.0K
NOI $17,038 @ 7.0% cap · market cap 6.71%
Theoretical Best
Office A
$577.8K
$505.6K – $674.2K
NOI $40,449 @ 7.0% cap · market cap 15.93%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
497
Businesses Nearby
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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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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are vacant and include matching two-bedroom, one-bathroom layouts with attached garages.
Where is this duplex located?
The property is located at 622 N Garfield Ave Sioux Falls, SD.
What is the asking price?
The asking price for this property is $253,900.
What are key features of this property?
This property features: Two‑unit duplex with 2,128 square feet; Each unit has 2 bedrooms, 1 full bathroom, and an attached 2‑stall garage; Both residences are vacant
