Move-In Ready Duplex with
905/907 Clark Lane Rapid City, SD 57702
For Sale
$550,000
MULTI_FAMILY - Rapid City, SD
Property Size2,680 SF
Price / SF$205.22
Days on Market110
Property Features for 905/907 Clark Lane
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Rooms
Bedroom 3, Bedroom 4, Bedroom 2, Bedroom 1, Bedroom 5
Parking features
Assigned, Garage
Exterior features
Paved Street
Standard status
Active
Size
2,680 SF
Utilities
Heating system
Natural Gas, Forced Air
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
(605) 545-1943
Added: Apr 10
Changed: Jul 21
Last Checked: Jul 28 at 3:06AM
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 for-sale duplex features two residential units at 905/907 Clark Lane, each with its own interior layout and finished lower level. Unit 905 is a 3-bedroom, 1-bath home with approximately 1,340 square feet and includes an updated open-concept living area, remodeled kitchen with new counters and cabinets, stainless steel appliances, and a farmhouse sink. The main level includes one bedroom and an updated bathroom, with a fully finished and recently updated basement adding two additional bedrooms and a private laundry closet. Unit 907 offers 2 bedrooms and 1 bathroom, also approximately 1,340 square feet, with wood floors and ample natural light. The finished and recently remodeled basement includes an additional bedroom, a bonus room suitable for an office, and a laundry closet.
Outside, both sides include privacy-fenced yards with patio space, including a concrete patio and firepit area for 905 and a pergola-covered patio for 907. The property also provides alley access to parking, and 907 has access to a detached 2-car garage.
The duplex configuration is well-suited for an owner-occupant looking to live in one side while renting the other, or for buyers seeking a straightforward, move-in-ready residential income property with renovated interiors and functional, usable outdoor and parking features.
Outside, both sides include privacy-fenced yards with patio space, including a concrete patio and firepit area for 905 and a pergola-covered patio for 907. The property also provides alley access to parking, and 907 has access to a detached 2-car garage.
The duplex configuration is well-suited for an owner-occupant looking to live in one side while renting the other, or for buyers seeking a straightforward, move-in-ready residential income property with renovated interiors and functional, usable outdoor and parking features.
Key Highlights
- Duplex setup with both units at 1,340 sqft each: 905 (3 bedrooms, 1 bath) and 907 (2 bedrooms, 1 bath)
- 905 features a remodeled kitchen with new counters, cabinets, stainless steel appliances, and a farmhouse sink
- 905 includes a main‑floor bedroom, updated bathroom, and a fully finished recently updated basement adding 2 bedrooms plus a private laundry closet
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $30.6k | $11.40 |
| − Vacancy | −$1.4k | −$0.51 |
| EGI | $29.2k | $10.89 |
| − OpEx | −$8.8k | −$3.27 |
| NOI | $20.4k | $7.62 |
2,680 SF · lease $11.40/SF/yr · vacancy 4.50% · expense 30.00%
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
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Renovated duplex offers independent living units, privacy-fenced outdoor space, and alley access to parking.
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: Duplex setup with both units at 1,340 sqft each: 905 (3 bedrooms, 1 bath) and 907 (2 bedrooms, 1 bath); 905 features a remodeled kitchen with new counters, cabinets, stainless steel appliances, and a farmhouse sink; 905 includes a main‑floor bedroom, updated bathroom, and a fully finished recently updated basement adding 2 bedrooms plus a private laundry closet
