$360,000
$70K PRICE DROP

Estimated payment $2,368/month

Total Views 10,605
-- Bed
-- Bath
3,632 Sq Ft
$99 Price per Sq Ft

Highlights

  • Hot Water Heating System
  • Carpet
  • 3-minute walk to Lyon Park
  • Patrick Henry Middle School Rated A-

About This Home

Unlock a rare investment opportunity with an impressive 8% cap rate in the heart of downtown Sioux Falls! This prime triplex offers exceptional income potential, situated just steps from top attractions, dining, and entertainment—ensuring steady tenant demand and consistent cash flow. Whether you're looking to build equity or maximize rental income, this property is a smart choice for savvy investors. Act now to capitalize on this high-yield opportunity—properties like this don’t stay on the market long! Reach out today to learn more and secure your foothold in one of the area's most vibrant neighborhoods. Listing agent is related to the seller.

Listing Agent

Amanda Nielsen

Berkshire Hathaway HomeServices Midwest Realty - Sioux Falls Listed on: 05/06/2025

Berkshire Hathaway HomeServices Midwest Realty - Sioux Falls

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $4,487

Year Built

  • Built in 1913

Lot Details

  • 5,000 Sq Ft Lot
  • Lot Dimensions are 50x100

Parking

  • Paved Parking

Home Design

  • Triplex
  • Composition Shingle Roof
  • Stucco

Interior Spaces

  • 3,632 Sq Ft Home
  • 2-Story Property
  • Basement Fills Entire Space Under The House
  • Fire and Smoke Detector
  • Oven or Range

Flooring

  • Carpet
  • Vinyl

Schools

  • Longfellow Elementary School
  • Patrick Henry Middle School
  • Lincoln High School

Utilities

  • Hot Water Heating System

Community Details

  • 3 Units
  • Gales Addn Subdivision

Listing and Financial Details

  • Assessor Parcel Number 32478

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$4,487

Year Built

Built in 1913

Lot Details

0

Listing Details

  • Class: MULTI-FAMILY
  • Property Sub Type: Triplex
  • Estimated Finished Sq Ft: 3632
  • Inside City Limits: Yes
  • Legal Description: W 50' Lots 11 & 12 Blk 29 Gales Third Addn.
  • Year Built: 1913
  • Suffix: Street
  • Directions To Property: Minnesota Ave at 14th St, E to 207.
  • Elementary School: Longfellow ES
  • Geo Longitude: -96.728902
  • High School: Lincoln HS
  • Middle School: Patrick Henry MS
  • School District: Sioux Falls
  • Subdivision: Gales Addn
  • Special Features: None
  • Stories: 2

Interior Features

  • Floors: Carpet, Vinyl
  • Entrance: More than one per Unit
  • Appliances: Refrigerator, Oven/Range
  • Basement: Full
  • Price Per Sq Ft: 99.12
  • Number Of Stories: 2

Exterior Features

  • Exterior: Stucco/Drivit
  • Foundation: Poured
  • Roof: Shingle Composition

Garage/Parking

  • Parking: Paved Area

Utilities

  • Heating: Hot Water
  • Sewer: City Sewer
  • Water: City Water
  • Safety Features: Smoke Detector

Schools

  • School District: Sioux Falls
  • Elementary School: Longfellow ES
  • Middle School: Patrick Henry MS
  • High School: Lincoln HS

Lot Info

  • Acres: 0.1148
  • Geo Subdivision: SD
  • Lot Dimensions: 50x100
  • Lot Size Sq Ft: 5000

Rental Info

  • Type of Tenancy: Month to month
  • Utility Included in Rent: Gas, Water, Trash Collection

Tax Info

  • Assessor Parcel Number: 32478
  • Taxes: 4487

Multi Family

  • Bathrooms Per Unit: 1
  • Bathrooms Varies By Unit: Yes
  • Bedrooms Per Unit: 4
  • Bedroom Varies By Unit: Yes
  • Total Units: 3

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $3,951 $236,200 $26,500 $209,700
2023 $4,487 $256,300 $26,500 $229,800
2022 $5,492 $298,300 $26,500 $271,800
2021 $2,707 $128,000 $0 $0
2020 $2,707 $138,900 $0 $0
2019 $3,299 $167,056 $0 $0
2018 $3,364 $176,567 $0 $0
2017 $3,403 $170,897 $57,500 $113,397
2016 $3,403 $170,897 $57,500 $113,397
2015 $3,462 $164,647 $51,250 $113,397
2014 $3,491 $164,647 $51,250 $113,397
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/17/2025 07/17/25 Price Changed $360,000 -16.3% $99 / Sq Ft
05/06/2025 05/06/25 For Sale $430,000 -- $118 / Sq Ft
Source: REALTOR® Association of the Sioux Empire

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Source: REALTOR® Association of the Sioux Empire

MLS Number: 22503332

REALTOR® Association of the Sioux Empire

APN: 32478