2240 7th AveRapid CitySD57702
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeTight but positive: 2240 7th Ave, Rapid City, SD, 57702 in Rapid City at $245,000 earns $1,652/mo in rent and nets $104/mo after the $1,102/mo payment, a 8.09% yield with limited short-term income headroom. The equity story offsets the thin monthly spread: 5% annual appreciation adds $67,689 over five years. Ziffy Mortgage underwrites this on a 1.50 DSCR without U.S. credit history. With $2,256/yr in principal paydown, total projected return reaches $99,712.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.1% | 6.8% |
| Monthly Cash Flow | $104 | $1,250 |
City averages based on Rapid City market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,652 |
| Total Monthly Debt Service | $1,451 |
| DSCR Ratio | 1.14x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1954
6,969 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 57702, Rapid City, SD area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,138 (100%) |
| Owner Occupied HU | 10,462 (64.8%) |
| Renter Occupied HU | 4,281 (26.5%) |
| Vacant Housing Units | 1,395 ( 8.6%) |
| Median Home Value | $432,090 |
| Average Home Value | $494,970 |
Housing Distribution
Address Breakdown
Residential
15,613
Single Family
13,867
Multi-Family
1,746
Businesses
1,052
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Single Family
Built in 1954
6,969 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 57702, Rapid City, SD area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,138 (100%) |
| Owner Occupied HU | 10,462 (64.8%) |
| Renter Occupied HU | 4,281 (26.5%) |
| Vacant Housing Units | 1,395 ( 8.6%) |
| Median Home Value | $432,090 |
| Average Home Value | $494,970 |
Housing Distribution
Address Breakdown
Residential
15,613
Single Family
13,867
Multi-Family
1,746
Businesses
1,052
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Pete Jensen • Keller Williams Realty Black Hills SP
Mls Name: Mount Rushmore Area AOR
Mls Provider:
Mls ID: #86838
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