CASH FLOW MACHINE! This high-performing 5-Plex is priced at $300K 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.
For sale
Price cut: $14K (8/27)
$300,000
1118 W 8th St, Sioux Falls, SD 57104
--beds
--baths
2,204sqft
Multi Family
Built in 1919
-- sqft lot
$-- Zestimate®
$136/sqft
$-- HOA
What's special
Detached garageClean modern feelNew flooringUpdated finishes
- 118 days
- 77
- 2
Zillow last checked:
Listing updated:
Listed by:
Aiden L Schoenhard,
Ekholm Team Real Estate 605-360-7506,
Sarah R Ekholm,
Ekholm Team Real Estate
Source: Realtor Association of the Sioux Empire,MLS#: 22603143
Facts & features
Interior
Features
- Flooring: Carpet, Vinyl, Laminate
- Basement: Full
Interior area
- Total interior livable area: 2,204 sqft
Property
Parking
- Parking features: Detached
Features
- Stories: 2
Lot
- Size: 6,599 Square Feet
- Dimensions: 46 x 132
Details
- Parcel number: 28985
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Foundation: Other
- Roof: Composition
Condition
- Year built: 1919
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
Community
- Subdivision: Covell's 1st Addn
Location
- Region: Sioux Falls
Financial & listing details
- Price per square foot: $136/sqft
- Tax assessed value: $205,700
- Annual tax amount: $3,291
- Date on market: 5/5/2026
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 8/27/2026 | Price change | $300,000-4.5%$136/sqft |
Source:  Realtor Association of the Sioux Empire #22603143 Report a problem | ||
| 6/18/2026 | Price change | $314,000-3.4%$142/sqft |
Source: Realtor Association of the Sioux Empire #22603143 Report a problem | ||
| 5/5/2026 | Listed for sale | $325,000-3.6%$147/sqft |
Source: Realtor Association of the Sioux Empire #22603143 Report a problem | ||
| 4/30/2026 | Listing removed | $337,000$153/sqft |
Source: Realtor Association of the Sioux Empire #22601332 Report a problem | ||
| 2/28/2026 | Listed for sale | $337,000-0.3%$153/sqft |
Source: Realtor Association of the Sioux Empire #22601332 Report a problem | ||
| 2/28/2026 | Listing removed | $338,000$153/sqft |
Source: Realtor Association of the Sioux Empire #22600921 Report a problem | ||
| 2/12/2026 | Price change | $338,000-0.3%$153/sqft |
Source: Realtor Association of the Sioux Empire #22600921 Report a problem | ||
| 1/29/2026 | Listed for sale | $339,000$154/sqft |
Source: Realtor Association of the Sioux Empire #22600587 Report a problem | ||
| 1/28/2026 | Listing removed | $339,000$154/sqft |
Source: Realtor Association of the Sioux Empire #22508635 Report a problem | ||
| 12/15/2025 | Price change | $339,000-2.9%$154/sqft |
Source: Realtor Association of the Sioux Empire #22508635 Report a problem | ||
| 11/17/2025 | Price change | $349,000-3.1%$158/sqft |
Source: Realtor Association of the Sioux Empire #22508635 Report a problem | ||
| 8/12/2025 | Listed for sale | $360,000-5%$163/sqft |
Source: Realtor Association of the Sioux Empire #22506244 Report a problem | ||
| 8/22/2024 | Listing removed | -- |
Source: Realtor Association of the Sioux Empire #22403353 Report a problem | ||
| 5/13/2024 | Price change | $379,000-2.8%$172/sqft |
Source: Realtor Association of the Sioux Empire #22403353 Report a problem | ||
| 5/6/2024 | Price change | $389,900-2.5%$177/sqft |
Source: Realtor Association of the Sioux Empire #22403147 Report a problem | ||
| 4/27/2024 | Listed for sale | $399,900+68.7%$181/sqft |
Source: Realtor Association of the Sioux Empire #22402956 Report a problem | ||
| 5/3/2023 | Sold | $237,000$108/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $3,291 -4.4% | $205,700 -3% |
| 2024 | $3,443 +32.3% | $212,100 +46.7% |
| 2023 | $2,602 +0.9% | $144,600 +6.6% |
| 2022 | $2,579 -19.2% | $135,700 -18.3% |
| 2021 | $3,193 +24.3% | $166,100 +7% |
| 2020 | $2,569 +8.4% | $155,300 +25.3% |
| 2018 | $2,371 -4.2% | $123,924 +4.9% |
| 2017 | $2,473 +4.3% | $118,106 +2.1% |
| 2016 | $2,371 +0.2% | $115,681 +4.7% |
| 2015 | $2,365 -0.7% | $110,457 |
| 2014 | $2,383 +4.9% | $110,457 |
| 2013 | $2,272 | $110,457 |
| 2012 | $2,272 | $110,457 |
| 2011 | -- | $110,457 |
| 2010 | -- | $110,457 |
| 2009 | $2,150 | $110,457 |
| 2008 | -- | $110,457 +3.6% |
| 2007 | -- | $106,593 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: Axtell Park
Nearby schools
Schools provided by the listing agent
- Elementary: Lowell ES
- Middle: George McGovern MS - Sioux Falls
- High: Thomas Jefferson High School
- District: Sioux Falls
Source: Realtor Association of the Sioux Empire. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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