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Mitchell, SD Multifamily Homes & Duplexes for Sale

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  • /54

    $250,000

    • 3,836 Sq Ft

    514 W 2nd Ave, Mitchell, SD 57301

    Outstanding Investment Opportunity with Seller-Estimated Potential for a 10% Cap Rate!Don't miss this exceptional income-producing property that the seller estimates has the potential to achieve approximately a 10% cap rate based on projected income and expenses. This spacious property features numerous updates, including newer siding, roof, and windows in 2014, kitchen improvements on the main

    Pamela Bathke Ace Realty, LLC

    514 W 2nd Ave, Mitchell, SD 57301
  • /35

    $189,900

    $10K PRICE DROP
    • 3,195 Sq Ft

    322 E 1st Ave, Mitchell, SD 57301

    Turnkey investment opportunity! Fully rented 3 unit property with long term tenants in place! Each unit has at least 2 bedrooms and 1 full bath with comfortable living space and a steady rental income potential. Great opportunity to add a solid income-producing property to your portfolio! Each floor is over 1,000 sq ft.Double car garage is also rented out.

    DEANNA HETLAND Ace Realty, LLC

    322 E 1st Ave, Mitchell, SD 57301

Why Live in Mitchell

Mitchell, South Dakota, is a community with deep agricultural roots, best exemplified by The World's Only Corn Palace, a unique venue adorned with grain murals. With a population of over 15,000, Mitchell is experiencing growth and development, including a new $500 million soybean plant set to open in 2025. Housing options range from historic homes dating back to the 1880s to modern residences along Lake Mitchell, with new multi-family housing projects underway. The Mitchell School District is highly rated, and the city is investing in educational infrastructure, including a new high school. Mitchell hosts Dakotafest, a major agricultural trade show that significantly boosts local tourism. Downtown features Italianate architecture with various small shops, while larger chain stores are located in the southern part of the city. Recreational attractions include Lake Mitchell, offering hiking, fishing, and camping, and Hitchcock Park, which has an aquatic center. The city is situated at the intersection of Interstate 90 and South Dakota Highway 30, approximately 70 miles from Sioux Falls. Infrastructure improvements are ongoing, focusing on water sources, sewers, and downtown enhancements. Mitchell experiences warm summers and cold winters, with an average of 40 inches of snow annually. The area is in Tornado Alley, with historical tornado events. Crime rates have decreased recently, aligning with state trends.

Home Price Trends

Median Sale Price
$240,000
Median Single Family Sale Price
$249,700
Median 2 Bedroom Sale Price
$194,000
Median 1 Bedroom Sale Price
$96,000
Average Price Per Sq Ft
$157
Number of Homes for Sale
54
Last 12 months Home Sales
195
Months of Supply
3.30
Median List Price
$249,900
Median Change From 1st List Price
0%
Median Home Sale Price YoY Change
2%
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