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Spearfish, SD Multifamily Homes & Duplexes for Sale

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  • /38

    $2,050,000

    • 2 Beds
    • 3 Baths
    • 2,287 Sq Ft

    1790 Lookout Mountain Rd, Spearfish, SD 57783

    The Lookout Mountain Road property encapsulates Spearfish in its finest decor. An impressive setting of just over 33 acres which lies on the border of the Spearfish city limits gives way to beautiful sunrises shimmering off the red rock hills, and serene sunsets that have a calming peacefulness that is so often found in settings like this. The topography within the property's boundary has a

    JD Hewitt HEWITT LAND COMPANY

    1790 Lookout Mountain Rd, Spearfish, SD 57783
  • /30

    $850,000

    • Studio

    735 N 8th St, Spearfish, SD 57783

    BACK ON THE MARKET- NO FAULT TO SELLER! VERY MOTIVIATED SELLER! BEAUTIFUL AND UNIQUE VICTORIAN HOME FOR INVESTMENT PROPERTY OR MAKE IT YOUR HOME!! This unique property was built in 1900 and is currently used as a vacation rental. There are a total of 8 bdrms, 4.5 baths, with two separate living spaces. The main home has six bedrooms/3.5 baths; and the quaint and sunlit basement apartment has

    Elizabeth Frederick South Dakota Properties

    735 N 8th St, Spearfish, SD 57783
  • /21

    $675,000

    • Studio

    314 N 5th St, Spearfish, SD 57783

    For more information, please contact listing agents Heath Gran 605-209-2052 or Scot Munro 605-641-6482 with Great Peaks Realty. Incredible rental investment opportunity with this 5-plex in downtown Spearfish, operating at 100% occupancy rate! 4 of the 5 apartment units have been remodeled to include new appliances and fixtures, flooring, cabinets, vanities and countertops, sinks and toilets. All

    Heath Gran Great Peaks Realty

    314 N 5th St, Spearfish, SD 57783
  • /20

    $3,799,000

    • Studio

    1931 Russell St, Spearfish, SD 57783

    For more information, please contact listing agents Heath Gran 605-209-2052 or Scot Munro 605-641-6482 with Great Peaks Realty. The Russell Street Duplexes located in the Commons at the Reserve in Spearfish are your modern-day fully appliance furnished apartment style, upstairs & downstairs units serve as a fantastic investment opportunity! Each duplex has 836 sq ft providing adequate living

    Heath Gran Great Peaks Realty

    1931 Russell St, Spearfish, SD 57783
  • /29

    $2,200,000

    • Studio

    230 N Main St, Spearfish, SD 57783

    This 31-unit apartment complex is located on Main Street in the heart of Spearfish, SD. The property includes 4 separate buildings that are situated on 4 city lots with a total land area of .64 acres and 8,685 square feet of finished space. Current rental rates range from $625-$850/month with a gross monthly rental income potential of $22,375 ($268,500 annual) at 100% capacity. The owner pays for

    Kade Welfl THE REAL ESTATE CENTER OF SPEARFISH

    230 N Main St, Spearfish, SD 57783

Why Live in Spearfish

Spearfish, South Dakota, known as "The Queen City," is a suburban area surrounded by three peaks in the northern Black Hills. With a population of 13,000, it attracts families, retirees, and second-homeowners due to its natural beauty and small-town atmosphere. Located 45 miles from Rapid City and 12 miles east of Wyoming, Spearfish offers a robust economy with industries such as tourism, health care, education, mining, and timber. The Spearfish School District is highly rated, serving 2,423 students across three elementary schools, a middle school, and a high school. Black Hills State University, a four-year public university, is also located here. Housing options range from modest manufactured homes to luxury estates, with new homes continually being built. Outdoor activities are abundant, including hiking, rock climbing, skiing, and fly-fishing, with over 50 miles of trails and popular spots like Big Hill and Eagle Cliff. The city has 16 developed parks connected by an 8-mile path, sports fields, a skate park, and a winter ice rink. Downtown Spearfish is walkable, featuring dining, shopping, and entertainment options, including the Matthews Opera House and Art Gallery. Interstate 90 runs through the city, and the Rapid City Regional Airport is 50 miles away.

Home Trends in Spearfish, SD

Housing Trends

Median Sale Price
$647,500
Median Single Family Sale Price
$679,000
Median Townhouse Sale Price
$524,000
Median 2 Bedroom Sale Price
$353,500
Average Price Per Sq Ft
$265
Number of Homes for Sale
18
Last 12 months Home Sales
192
Months of Supply
1.10
Median List Price
$749,000
Median Change From 1st List Price
5%
Median Home Sale Price YoY Change
16%
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