Under $500K Investment Properties for Sale in Mitchell, SD
168- 2 Bed
- 2 Bath
- 1715 sft
69- 3 Bed
- 2 Bath
- 2002 sft
180- 3 Bed
- 2 Bath
- 1789 sft
394- 2 Bed
- - Bath
- 844 sft
Why Invest in Mitchell, South Dakota?
Mitchell, South Dakota offers compelling opportunities for investors seeking properties under $500k in a growing regional market. The median home value of $253,977 with 5.2% year-over-year appreciation demonstrates steady market momentum. Properties in this price range benefit from strong rental demand in a somewhat competitive market where homes sell within 30 days on average. The sub-$500k segment captures the majority of Mitchell's inventory, providing diverse options from single-family rentals to small multi-unit properties with solid cash flow potential.
Frequently Asked Questions
Properties in this price range typically generate $400–$550 monthly cash flow after expenses, with rental yields between 5–6%. The lower purchase price combined with steady local rents creates favorable cash-on-cash returns for buy-and-hold investors.
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