2322 Lockwood DrRapid CitySD57702
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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
Investment property for sale in Rapid City at 2322 Lockwood Dr, Rapid City, SD, 57702 uses $119,009 cash to close to unlock $3,809/yr annual cash flow and $317/mo monthly cash flow. Total monthly income runs $2,586/mo, and a $1,757/mo payment keeps the spread at $317/mo. Purchase price stands at $359,000, and rental yield measures 8.64% with $2,586/mo rent. Return on cash invested shows 23.11% in year one, and 5% annual appreciation builds toward $99,185 over five years. Five-year ROI reaches 120.19% and total cumulative return in cash records $143,035. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,586/mo property income covering a $1,757/mo payment rather than investor’s personal income.
Single Family
Built in 1963
10,018 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
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Listed by: Kade J Welfl • The Real Estate Center of Spearfish
Mls Name: Mount Rushmore Area AOR
Mls ID: #86860