Side-by-Side Duplex with
For Sale
$550,000
905/907 Clark Lane, Rapid City, SD 57702
MULTI-FAMILY, Side/Side, Rapid City, SD
Property Size2,680 SF
Price / SF$205.22
Days on Market179
Property Features for 905/907 Clark Lane
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Rooms
Bedroom 1, Bedroom 3, Bedroom 4, Bedroom 5, Bedroom 2
Parking features
Garage, Assigned
Exterior features
Paved Street
Subdivision
Boulevard Addition
Elementary school district
Rapid City
Middle school district
Rapid City
High school district
Rapid City
Directions
Heading S. on Mt. Rushmore Rd. R onClark, home is on the L.
Standard status
Active
Size
2,680 SF
Utilities
Heating system
Forced Air, Natural Gas
Building Details
Year built
1939
Number of units
2
Building materials
Frame
Roof type
Composition
Architectural style
Other
Listing Agency:
Keller Williams Realty Black Hills SP
(605) 343-7500
Listed By:
Holly Hultgren · License #15185
(605) 545-1943
Added: Apr 10
Changed: Sep 15
Last Checked: Oct 5 at 2:06PM
MLS# 88231
Copyright © 2026 Mt. Rushmore Area Association of Realtors. 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 contains two 1,340-square-foot units totaling 2,680 square feet. The 905 unit offers 3 bedrooms (1 NTC), 1 bathroom, a renovated kitchen with stainless steel appliances, wood flooring, an open living area, and a finished basement with two additional bedrooms and a private laundry closet. The 907 unit includes 2 bedrooms, 1 bathroom, a galley kitchen with stainless steel appliances, wood floors, and a finished basement with an additional bedroom, bonus room, and laundry closet.
Both units feature privacy-fenced outdoor space with patios. The property also includes alley access, assigned parking, and a detached 2-car garage serving the 907 unit. Built in 1939, the duplex has frame construction, forced-air natural gas heating, composition roofing, and a paved street frontage.
Both units feature privacy-fenced outdoor space with patios. The property also includes alley access, assigned parking, and a detached 2-car garage serving the 907 unit. Built in 1939, the duplex has frame construction, forced-air natural gas heating, composition roofing, and a paved street frontage.
Key Highlights
- Two‑unit side‑by‑side duplex at 905/907 Clark Lane
- 2,680 square feet total with two 1,340‑square‑foot units
- Unit mix includes 3 bedrooms (1 NTC) and 2 bedrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,424
Cap Rate
3.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$408,480
$408.5K
Cap Rate 7%
$291,771
$291.8K
Cap Rate 9%
$226,933
$226.9K
Market Conditions
NOI Build-Up for 2,680 SF
Gross rent
$30.6K $11.40/SF
− Vacancy
−$1.4K −$0.51/SF
EGI
$29.2K $10.89/SF
− OpEx
−$8.8K −$3.27/SF
NOI
$20.4K $7.62/SF
Area
Pennington County, SD
Vacancy
4.50%
Lease Rate
$11.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$408,480
Cap Rate 7%
$291,771
Cap Rate 9%
$226,933
Alternative Uses
Best Use
Multifamily LT 5
$291.8K
$255.3K – $340.4K
NOI $20,424 @ 7.0% cap · market cap 3.71%
Second Best
Apartment 5plus
$271.7K
$237.7K – $317.0K
NOI $19,018 @ 7.0% cap · market cap 3.46%
Theoretical Best
Specialty Retail
$485.8K
$425.1K – $566.8K
NOI $34,009 @ 7.0% cap · market cap 6.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,059
Businesses Nearby
Explore this area
Business Placement
Demographics for 57702, SD
33,162
Population
16,786
Households
2
Avg Household Size
46
Median Age
48%
College-Educated
98%
High-School Grad
285.8 sq mi
ZIP Area
116
Density / Sq Mi
$85,700
Median Household Income
$44,214
Median Earnings
$1,209
Median Rent
$341,400
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 - Side-by-side duplex with finished basements, updated interiors, fenced yards, and separate outdoor areas.
Where is this duplex located?
The property is located at 905/907 Clark Lane Rapid City, SD.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Two‑unit side‑by‑side duplex at 905/907 Clark Lane; 2,680 square feet total with two 1,340‑square‑foot units; Unit mix includes 3 bedrooms (1 NTC) and 2 bedrooms
