823 S 2nd AveSioux FallsSD57104
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeSolid, durable, and financeable, 823 S 2nd Ave, Sioux Falls, SD, 57104 in Sioux Falls earns a 9.98% gross yield at $299,500. Rent of $2,490/mo nets $597/mo after the $1,347/mo mortgage. The 1.85 DSCR signals clean DSCR underwriting through Ziffy Mortgage, with no personal income verification required. Five-year value growth of $82,746 and $2,758/yr in equity accumulation project a total cumulative return of $152,192.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10% | 6.8% |
| Monthly Cash Flow | $597 | $450 |
City averages based on Sioux Falls market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,490 |
| Total Monthly Debt Service | $1,774 |
| DSCR Ratio | 1.40x |
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 1922
7,152 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 57104, Sioux Falls, SD area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,149 (100%) |
| Owner Occupied HU | 5,289 (37.4%) |
| Renter Occupied HU | 7,613 (53.8%) |
| Vacant Housing Units | 1,247 ( 8.8%) |
| Median Home Value | $223,674 |
| Average Home Value | $261,086 |
Housing Distribution
Address Breakdown
Residential
12,719
Single Family
7,892
Multi-Family
4,827
Businesses
1,793
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 1922
7,152 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 57104, Sioux Falls, SD area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,149 (100%) |
| Owner Occupied HU | 5,289 (37.4%) |
| Renter Occupied HU | 7,613 (53.8%) |
| Vacant Housing Units | 1,247 ( 8.8%) |
| Median Home Value | $223,674 |
| Average Home Value | $261,086 |
Housing Distribution
Address Breakdown
Residential
12,719
Single Family
7,892
Multi-Family
4,827
Businesses
1,793
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Melissa Kurth • Hegg, REALTORS
Mls Name: Realtor Association of the Sioux Empire
Mls Provider:
Mls ID: #22504023
Disclaimer: The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of the REALTOR Association of the Sioux Empire, Inc., Multiple Listing Service. Real estate listings held by brokerage firms other than Zillow, Inc. are marked with the Internet Data Exchange logo or the Internet Data Exchange thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers. Information is deemed reliable but not guaranteed. Copyright 2025 REALTOR Association of the Sioux Empire, Inc., Inc. Multiple Listing Service. All rights reserved.