840 N Spruce St LOT 402Rapid 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 840 N Spruce St LOT 402, Rapid City, SD, 57701 uses $72,930 cash to close to unlock $5,982/yr annual cash flow and $499/mo monthly cash flow. Total monthly income runs $1,889/mo, and a $1,077/mo payment keeps the spread at $499/mo. Purchase price stands at $220,000, and rental yield measures 10.3% with $1,889/mo rent. Return on cash invested shows 28.11% in year one, and 5% annual appreciation builds toward $60,782 over five years. Five-year ROI reaches 147.03% and total cumulative return in cash records $107,231. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,889/mo property income covering a $1,077/mo payment rather than investor’s personal income.
Manufactured
Built in 2017
N/A 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: Shauna Sheets • Keller Williams Realty Black Hills SP
Mls Name: Mount Rushmore Area AOR
Mls ID: #86208