514 W 2nd Ave, Mitchell, SD 57301 (MLS# 26-349)


$250,000
514 W 2nd Ave
Mitchell, SD 57301
MLS# 26-349
3836 sqft


514 W 2nd Ave, Mitchell, SD 57301
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Property Description
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

Details
Maps
Documents
Contract Information
Current Price: $250,000
Book Section: Residential
Begin Date: 2026-07-27
Status: Active
List Price: $250,000
Location Tax and Other Information
House Number: 514
Street Direction Pfx: W
Street Name: 2nd
Street Suffix: Ave
State/Province: SD
Postal Code: 57301
County: Davison
Taxes: 2346.54
Tax Year: 2025
General Property Description
SqFt. 1: 1468
SqFt. 2: 1468
SqFt. 3: 900
Age: 1915
Realtor.COM Type: Multi-Family
Lot Size: 70' x 142'
Lot Acres: 0.23
Stories: 2
Garage Stall: 2
Garage Type: Detach
Waterfront YN: No
Legal: LT 9 & W20' LT 10 BLK 95 JOHN LAWLER'S 1ST ADDN-NE
Total Finished SqFt.: 3836
Construction
Construction: Frame
Exterior Const: Vinyl
Roof: Asphalt Shingles
Utilities
Heat: Baseboard
Air Conditioning: Window
Water Pd By: Owner
Sewer Pd By: Owner
Gas Pd By: Owner
Electric Pd By: Tenant
Property Features
Foundation: Block
Basement: Partial
Appliances: Range/Oven; Hood/Fan; Refrigerator; Microwave; DRYER; WASHER
Supplements
level and updated flooring in the past 2-3 years. Each unit has a separate entrance and offers generous living space and excellent rental income potential. The main-floor unit features a separate dining room, a cozy wood-burning stove in the living area, and a spacious primary suite complete with a private half bath and a large walk-in closet. The upper-level unit offers large bedrooms, a spacious living area, and an inviting eat-in kitchen. The basement provides additional functional living space, complete with a kitchenette and a three-quarter bathroom. Bedroom is non-conforming. Outside, you'll appreciate the 2-stall 26 x 26 detached garage and additional rear parking with convenient alley access, a partially fenced yard and beautiful flower and vegetable gardens that enhance the property's charm and appeal. Whether you're looking to expand your investment portfolio or occupy one unit while generating income from the others, this property offers exceptional value, space, and income potential. Schedule your showing today!

Listing Office: Ace Realty, LLC

Last Updated: July - 28 - 2026

Information deemed reliable but not guaranteed.