1118 W 8th St, Sioux Falls, SD 57104
Covell's 1st Addn · Minnehaha County
Key Facts
Description
CASH FLOW MACHINE! This high-performing 5-Plex is priced at $314K with approximately $3,660/month in gross rental potential—exceeding the 1% Rule. Whether you're an investor chasing strong returns or an owner-occupant looking to offset your mortgage, this one delivers. Each unit offers 1 bed, 1 bath, making it highly attractive for consistent tenant demand and easy leasing. Recent improvements include fresh interior and exterior paint, with most units featuring new flooring, carpet, and updated finishes, giving the property a clean, modern feel tenants are actively looking for. A detached garage adds additional income potential, creating another stream of cash flow. This is a true turnkey opportunity with strong rental upside and minimal immediate maintenance needs. High demand, strong numbers, and above-average returns—opportunities like this don’t last. Lock it in before someone else does.
Property Information
Property Type
Residential Income
Sub-Type
Multi Family
Year Built
1919
Living Area
2,204 sq ft
Lot Size
0.15 acres
Lot Dimensions
46 x 132
Days on Market
63
MLS® Listing#
22603143
Property Features
Flooring
Basement
Parking
Foundation
Roof
Sewer
Water Source
Schools
- Elementary:
- Lowell ES
- Middle:
- George McGovern MS - Sioux Falls
- High:
- Thomas Jefferson High School
Financial Details
Parcel Number
28985
Directions
use google maps
Affordability Calculator
$62,800
Estimated monthly payment
$1,671/mo
Principal $251,200 · Est. interest $350,446 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Sioux Falls, SD
- $363,439
- Median Listing Price
- 43
- Median Days on Market
- 1,782
- Median Sq Ft
- $195
- Median Price / Sq Ft
- 997
- Active Listings
- This home’s price is 14% below the area median.
- Its price per sq ft is 27% below the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Sioux Falls, SD.
Location
Getting Around
Points of Interest in Sioux Falls, SD
Showing the Sioux Falls area map.
Nearby Schools
Axtell Park Middle School
Secondary · 0.2 mi away
Stewart School
Elementary · 0.4 mi away
Empire Baptist Temple
School · 0.4 mi away
St Joseph Cathedral School
Secondary · 0.5 mi away
Hawthorne Elementary School
Elementary · 0.6 mi away
Tea Area School District
Secondary · 0.8 mi away
Sioux Falls School District Early Childhood Preschool
School · 0.9 mi away
Lowell Elementary School
Elementary · 0.9 mi away
Garfield Elementary School
Elementary · 0.9 mi away
All-City Elementary School
Elementary · 1.1 mi away
Sonia Sotomayor Elementary School
Elementary · 1.2 mi away
Jefferson Elementary School
Elementary · 1.2 mi away
Stewart Center, Usf
School · 1.3 mi away
Christ the King School
School · 1.4 mi away
Teachwell Strive -05
Secondary · 1.4 mi away
Teachwell Solutions
School · 1.4 mi away
Whittier Middle School
Secondary · 1.5 mi away
Longfellow Elementary School
Elementary · 1.5 mi away
Edison Middle School
Secondary · 1.6 mi away
Mark Twain Elementary School
Elementary · 1.6 mi away
Commute Calculator
Nearby Homes
Similar Homes Nearby
Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 4601 S Oxbow Ave 205, Sioux Falls, SD | $219,900 | 3 | 2 | 1,422 |
| 1918 S Cliff Ave, Sioux Falls, SD | $219,900 | 2 | 2 | 1,351 |
| 1812 S Norton Ave, Sioux Falls, SD | $219,900 | 2 | 2 | 768 |
| 1402 E 9th St, Sioux Falls, SD | $219,900 | 3 | 2 | 1,018 |
| 1641 S Cleveland Ave 206, Sioux Falls, SD | $220,000 | 3 | 2 | 1,452 |
| 1106 N Fir Pl 48, Sioux Falls, SD | $220,000 | 2 | 2 | 1,328 |
Moving Cost Estimate
EXIT Agents in Sioux Falls
Listing Courtesy: Ekholm Team Real Estate
Last Updated: 2026-05-05