3029 Hoefer AveRapid 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
Investment property for sale in Rapid City at 3029 Hoefer Ave, Rapid City, SD, 57701 offers a 8.67% rental yield on a $589,900 purchase with $4,260/mo rent. Total monthly income registers $4,260/mo, and a $2,887/mo payment leaves $532/mo available for distribution. Annual cash flow reaches $6,389/yr on $194,077 to close, and return on cash invested stands at 23.35% in year one. Equity gained on principal adds $3,807/yr while 5% annual appreciation supports $162,978 over five years. Portfolio math shows five-year ROI at 121.45% and total cumulative return in cash at $235,701. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $4,260/mo property income against a $2,887/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Townhouse
Built in 2017
6,969 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: Melanie Lowe • The Real Estate Group Rapid City
Mls Name: Mount Rushmore Area AOR
Mls ID: #87089