1508 Morningside DrRapid CitySD57701
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Rental property for sale in Rapid City at 1508 Morningside Dr, Rapid City, SD, 57701 priced at $420,000 converts $3,059/mo rent into $405/mo cash flow after a $2,056/mo obligation. Total monthly income equals $3,059/mo, and annual cash flow totals $4,854/yr on $139,230 invested. Return on cash invested prints 23.4% in year one, and rental yield reads 8.74% against a $420,000 entry. Equity gained on principal adds $2,710/yr, while 5% annual appreciation compiles into $116,038 by year five. Five-year ROI reaches 121.72% and total cumulative return in cash sums $169,471. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $3,059/mo property income covering a $2,056/mo payment, not borrower’s personal income.
Single Family
Built in 1958
8,712 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 57701, Rapid City, SD area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 22,911 (100%) |
| Owner Occupied HU | 11,148 (48.7%) |
| Renter Occupied HU | 10,021 (43.7%) |
| Vacant Housing Units | 1,742 ( 7.6%) |
| Median Home Value | $286,770 |
| Average Home Value | $316,857 |
Housing Distribution
Address Breakdown
Residential
20,368
Single Family
16,786
Multi-Family
3,582
Businesses
2,132
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Listed by: Cierra Vanderpol • Black Hills SD Realty
Mls Name: Mount Rushmore Area AOR
Mls ID: #86547