514 & 516 3rd StSpearfishSD57783
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
Investment Highlights
Rental property for sale in Spearfish at 514 & 516 3rd St, Spearfish, SD, 57783 generates $2,100/mo in rent, after a $3,132/mo payment. Total monthly income is $2,100/mo. Return on cash invested sits at 8.98% in year one, and rental yield is 3.94% on a $640,000 entry. Equity gained on principal adds $4,130/yr, while 5% annual appreciation builds toward $176,820 over five years. Five-year ROI reaches 44.38% and total cumulative return in cash sums $93,438. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,100/mo property income rather than buyer’s personal income.
Multi Family
Built in 1984
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 57783, Spearfish, SD area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,896 (100%) |
| Owner Occupied HU | 4,819 (54.2%) |
| Renter Occupied HU | 3,135 (35.2%) |
| Vacant Housing Units | 942 (10.6%) |
| Median Home Value | $357,200 |
| Average Home Value | $433,585 |
Housing Distribution
Address Breakdown
Residential
7,630
Single Family
6,881
Multi-Family
749
Businesses
978
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Listed by: Jenni Sneesby • Engel & Voelkers Black Hills Spearfish
Mls Name: Mount Rushmore Area AOR
Mls Provider:
Mls ID: #84668
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