402 E Madison St, Rapid City, SD 57701
Property image
Property image
FOR SALE
0.3 ACRES

$399,500

Original price: $425,000
  • Studio

402 E Madison St, Rapid City, SD 57701

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Home Highlights

Multi-Family
Built in 1946
0.3 acre lot
Garage

Local Information

  • Map ViewExplore the area around 402 E Madison St.
  • Schools1 Preschool School1 Elementary School1 Middle School1 High School
  • Shop & Eat
-- mins to
Commute Destination

About this House

What's unique:Formal dining areaNew tub surroundNew kitchen counter
2 HOMES. Projected Income Potential $43,000 Plus! BUYER'S PLEASE NOTE- Both homes must be sold as 1 unit. Please talk to your lender to see their loan qualifications for 2 homes on a property with 1 being a tri-plex. If you were to do a search for 402 E Madison only 1 of the homes shows up. Front home is a tr-plex built in 1946. Would make for a great owner-occupied property and have rental income. Property has 3 separate units with separate private entry, separate heating/AC units, separate electric meters, common utility room where each unit can have their own washer & dryer. Owner pays the gas, water & garbage. Tenants pay electric. Home electrical updated to breaker boxes. Main floor has 2 bedrooms, large living room & formal dining area. This unit normally has the option to rent the garage. Recent updates include new carpet in living room, new kitchen counter, and new tub surround. Gas forced air heating unit with electric central air. Upper-level unit is 1 bedroom unit with electric mini-split for heat & air conditioning. Recently updated all windows in that unit except for 1. Lower-level 1 bedroom unit has new carpeting. The 2nd Home in back is identified by Pennington County as Parcel ID-21-31-181-008 and also as 402 E Madison St. This 2- bedroom home was built in 1925. Home has 2023 Empire natural gas heater and electric radiant heat. There is an outside entry door to crawl space where city water meter is connected. PLEASE NOTE: Home is NOT vacant. The pictures are prior to current tenants. Please DO NOT walk around home or bother tenants. Property shown to Lender Qualified Buyers Only. Real Estate Taxes and Insurance numbers are for BOTH properties combined. Owner Jim Biers is a Licensed Real Estate Broker.
Last check for updates: about 12 hours ago
Listing courtesy of JIM BIERS, (605) 390-1513
JIM L. BIERS REAL ESTATE
Source: Black Hills AOR, MLS#180531
Also Listed on Black Hills AOR.

Home Details for 402 E Madison St

Interior Features

Interior Details
Basement: Crawl Space
Heating & Cooling
Heating: Electric,Forced Air,Gravity,RadiantHas CoolingAir Conditioning: Central AirHas HeatingHeating Fuel: Electric
Windows, Doors, Floors & Walls
Window: Window Coverings
Levels, Entrance, & Accessibility
Entry Location: More Than One/Unit
View
Has a View
Security
Security: Smoke Detector(s)

Exterior Features

Exterior Home Features
Roof: CompositionFoundation: Concrete Perimeter
Parking & Garage
No CarportHas a GarageParking: Garage,See Remarks
Frontage
Not on Waterfront
Water & Sewer
Sewer: City (at site)

Days on Market

Days on Market: 66

Property Information

Year Built
Year Built: 1946
Property Type / Style
Property Type: Residential IncomeProperty Subtype: Quadruplex

Price & Status

Price
List Price: $399,500
Status Change & Dates
Possession Timing: Immediate, Subject To Tenant Rights

Active Status

MLS Status: ACTIVE

Location

Direction & Address
City: Rapid CityCommunity: Wise Add

Agent Information

Listing Agent
Listing ID: 180531

Lot Information

Lot Area: 0.30 acres

Miscellaneous

BasementMls Number: 180531

Around this home

What Locals Say about Rapid City

This October

Trick-or-Treat Score

Built from what locals say about this neighborhood.
  • 81% say there are sidewalks
  • 73% say there's holiday spirit
  • 51% say neighbors are friendly
Trulia Trick or TreatStart Ghost Hunt
At least 315 Trulia users voted on each feature.

  • 92 % Say car is needed

  • 88 % Say it's dog friendly

  • 83 % Say parking is easy

  • 81 % Say there are sidewalks

  • 78 % Say yards are well-kept

  • 73 % Say there's holiday spirit

  • 69 % Say kids play outside

  • 67 % Say there's wildlife

  • 65 % Say people would walk alone at night

  • 64 % Say it's quiet

  • 54 % Say streets are well-lit

  • 51 % Say neighbors are friendly

  • 42 % Say they plan to stay for at least 5 years

  • 29 % Say it's walkable to restaurants

  • 28 % Say it's walkable to grocery stores

  • 27 % Say there are community events

Sourced by Trulia users. Learn more about our methodology.
  • Nubia Quinonez
    "15 minutes to every thing"
    0
    Flag
  • Taylor Weathers
    "The area is nice, crime is really low, some areas are alittle run down but majority of the city and surrounding area is beautiful. I’m told the schools are good and there’s plenty for children to do around here. Plenty outdoor activities "
    1
    Flag
  • Michelle B
    "It’s a neighborhood 20+ years old, so there is space between houses and they don’t all look alike. Parkview park is only 2 blocks away with a pool, play area and softball fields. "
    0
    Flag
  • Aereal Willhoite
    "Rapid City is an outdoor enthusiast dream city to live plenty of stuff to do for everyone with their different personalities"
    0
    Flag
  • Jefffrazier
    "It’s not my “neighborhood”. We are renting a cabin here for the winter. The locals are not as friendly as we might have imagined. We are probably seen as outsiders. Given the beauty and blessings involved with this place, I can’t blame them. "
    0
    Flag
  • Jefffrazier
    "Few sidewalks, but drivers seem to be appropriately cautious when encountering wildlife and/or pets. "
    0
    Flag
  • jon.g.fleming
    "I work from home but my old commute was around 20 minutes in light traffic most mornings and evenings."
    0
    Flag
  • S.d.beckfamily
    "There are a lot of dog walkers in the area. We have a beautiful park in walking distance from our home. Also a nice dog park a short drive away. "
    9
    Flag
  • Lisalpog
    "The Southside of rapid city is one of the better part of town to live in. I live in the Newest part of the southside and it’s relatively quiet. Other than if you live close to Cattron which my building is located close to Catherine and sometimes you can hear the traffic. Other than that it’s great"
    12
    Flag
  • Chandlor M.
    "Fun place to live and have a family great schools great neighbors well maintained yards snow removal is a little lacking but you can get past it "
    1
    Flag
  • Rex
    "We have fireworks during the 4th of July. There is also pancake suppers for fundraiser for the Rapid Valley Fire department. "
    0
    Flag
  • Berto B. O.
    "The city is small and more laid back. People are mostly nice. There are a lot of outdoor activities to do in each season."
    6
    Flag
  • Chassidysieveke
    "Most people keep to themselves. It is very safe neighborhood for kids tho. Most houses have large lots."
    0
    Flag
  • Lori F.
    "The neighborhood really enjoys Fourth of July the celebration goes on for days upon days! Lots of neighbors love to shoot fireworks which is great to sit outside and watch with the kids at night, gives everyone an extra show both before and after the big show on the Fourth of July! "
    0
    Flag
  • Lakotaprarireheart
    "dogs are leashed and owners are very responsible for their dogs neighborhoods are well maintained people are very friendly "
    6
    Flag
  • Jay Sie
    "Some neighbors are friendly & considerate. Some aren’t. Nice place to live. The roads need to be maintained better. The parks could use some clean up. "
    1
    Flag
  • Heather T.
    "Grandview, and Robbinsdale are great schools. Teachers are dedicated to see all students succeed . "
    2
    Flag
  • Elliott B.
    "Parents should recommend new kids to the area to hang out at the local park parking lot lots of kids down there"
    5
    Flag
  • Brandi B.
    "From what I'm told from tourist, we are very friendly and welcoming town. Also that our surrounding areas, the Black Hills, is gorgeous."
    0
    Flag
  • Trulia User
    "Rapid valley is a very kid and dog friendly community, most of the neighbors take pride in their homes and yards. You see kids walking to and from school and lots of people walking babies in strollers it seems to be a safe area and the people love to celebrate the holidays. So if this meets what you are looking for in a neighborhood then the valley is the place for you! Good luck house hunting!!"
    0
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  • Lori F.
    "Friendly lots of dog walkers and people walking babies and young kids an elementary school is centrally located within the neighborhood overall a quiet place to live "
    0
    Flag
  • Natalia H.
    "we moved to Auburn Hills in August 2018. the neighbors are very nice and friendly. this winter everybody helped with clearing snow and working together. I wish we had a better school near by"
    0
    Flag
  • Craig
    "The lots are all fairly large, with at least 1/2 acre each. The area is very family and pet friendly, with common playground areas and walking paths through the open fields."
    0
    Flag
  • Carmen E. B.
    "Lots of other animals in the neighborhood but people are rude about picking up dog poop I’ve noticed!"
    0
    Flag
  • Lori F.
    "Lots of dog walkers in the neighborhood, kids playing outside, especially since there’s an elementary school a couple blocks away, normally a very quiet neighborhood a good mix of established residents and new property owners. Convenience of gas stations and a dollar tree within five minutes of the house for those last minute items that were forgotten at the store. Convenient location for stores, strip malls or even the mall within ten minutes. Great location to have rapid city at your fingertips without having to be right in the middle and having to deal with rush hour traffic"
    0
    Flag
  • Kayla C.
    "My neighborhood has many apartment developments. It’s a nice residential part of town with stores close by. "
    6
    Flag
  • Briann P.
    "my part of town is close to both down town and a Walmart. also not far from fast food restaurants. Close to three churches "
    3
    Flag
  • Lori F.
    "Very dog friendly neighborhood lots and lots of dog walkers! Very friendly area to live in. Overall low traffic area except when school lets out, but it is convenient for families with younger kids"
    0
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  • Lori
    "Quiet neighborhood typically without issue reasonable place to live cost wise. Convenient location to gas stations and interstate. Lots of younger kids very close to an elementary school. Good location for young families and first time buyers! Large lots per house. Nice to have more space than the newer neighborhoods offer. Usual lot size is a half acre or more!! "
    0
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  • Lori F.
    "Fourth of July is spectacular very neighborly nice place to live especially for young families with young kids school within walking distance "
    0
    Flag
  • Tyehjohnson
    "There’s a dog park, a pool, hot tub, and a gym all right here. All the dog owners are very friendly and encourage positive interaction with other dogs/owners. "
    0
    Flag
  • Njjoyce1981
    "Family friendly community just stay away from north rapid after dark. Not the best place to be at night especially alone by yourself."
    7
    Flag
  • Lori F.
    "There’s an elementary school in the neighborhood good for young families quiet community to live in low crime rate people love to celebrate the Fourth of July here! Everyone has been very friendly new to the area "
    0
    Flag

Market trends in Rapid City

Last updated September 2026
Buyer'sMarketSeller'sMarket
Avg. sale price
$383K
$8KMoM
Sale-to-List Price
98.6%
0.1%MoM
Price per sq ft
$212
$2MoM
Available listings
490
51MoM
Sourced by Trulia Market Trends

Home Value

Trulia Estimate
$391K
Since last month
Decreased$10K (-2.5%)
Since last year
Increased$232K (+146.5%)
Learn more about this home's value by checking out its Trulia Estimate and the value of nearby homes.

Trulia Estimate

The of this home's value increased by +407% in the last 10 years
MonthEstimated value
2026
October 2026$391K
September 2026$400K
August 2026$414K
July 2026$140K
June 2026$154K
May 2026$168K
April 2026$162K
March 2026$168K
February 2026$163K
January 2026$156K
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016

Nearby home prices

Get a sense of expected prices in the area by checking the value of nearby homes.
Address
Distance
Price
Bed
Bath
Sqft
Status
402 E Madison St, Rapid City, SD 57701
0.01
$274,100
4
3
1,330
Off Market
408 E Madison St, Rapid City, SD 57701
0.02
$253,100
4
2
1,366
Off Market
854 Waterloo St, Rapid City, SD 57701
0.02
$232,200
2
1
-
Off Market
320 E Madison St, Rapid City, SD 57701
0.02
$133,800
1
1
856
Off Market
860 Waterloo St, Rapid City, SD 57701
0.03
$221,300
1
1
-
Off Market
318 E Madison St, Rapid City, SD 57701
0.03
$148,400
2
1
780
Off Market
720 Waterloo St, Rapid City, SD 57701
0.03
$180,300
2
1
796
Off Market
410 E Madison St, Rapid City, SD 57701
0.03
$149,600
1
1
560
Off Market
405 E Monroe St, Rapid City, SD 57701
0.04
$231,000
4
2
1,788
Off Market
405 E Madison St, Rapid City, SD 57701
0.04
$217,600
2
3
1,230
Off Market
403 E Monroe St, Rapid City, SD 57701
0.04
$227,200
Studio
-
-
Off Market
Address Not Disclosed, Rapid City, SD 57701
0.04
$140,800
2
1
700
Off Market
316 E Madison St, Rapid City, SD 57701
0.04
$160,200
3
1
840
Off Market
407 E Madison St, Rapid City, SD 57701
0.04
$171,800
2
1
675
Off Market
859 Waterloo St, Rapid City, SD 57701
0.04
$301,800
2
1
768
Off Market
407 E Monroe St, Rapid City, SD 57701
0.04
$242,400
2
1
1,152
Off Market
317 E Madison St, Rapid City, SD 57701
0.05
$247,900
4
2
1,800
Off Market
412 E Madison St, Rapid City, SD 57701
0.05
$157,700
1
1
522
Off Market
409 E Monroe St, Rapid City, SD 57701
0.05
$233,400
3
1
1,056
Off Market
314 E Madison St, Rapid City, SD 57701
0.05
$183,600
3
1
1,122
Off Market

Price and Tax history

DateEventPrice
Sep 30, 2026
Source: Black Hills AOR #180531
PriceChange
$399,500
Price decreased by 6%
Sep 9, 2026
Source: Black Hills AOR #180531
PriceChange
$425,000
Price decreased by 2%
Aug 28, 2026
Source: Black Hills AOR #180531
PriceChange
$435,000
Price decreased by 3%
Aug 15, 2026
Source: Black Hills AOR #180531
Listed For Sale
$450,000

LGBTQ Local Legal Protections

JIM BIERS, JIM L. BIERS REAL ESTATE
Agent Phone: (605) 390-1513
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of Black Hills Association of REALTORS®. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information Deemed Reliable But Not Guaranteed.

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Frequently asked questions about 402 E Madison St

  • What is the estimated monthly payment for 402 E Madison St?
    Based on a $399,500 list price with 20% down at today's rates, the estimated monthly payment for 402 E Madison St in Rapid City, SD is approximately $2,636 (about $2,225 principal & interest, $336 property taxes, and $75 homeowner's insurance). This is an estimate. Actual payment depends on your loan terms.
  • How does the list price for 402 E Madison St compare to homes in Rapid City?
    402 E Madison St in Rapid City, SD is listed at $399,500, about 4% above the $383K median sale price in Rapid City.
  • What do residents say about Rapid City?
    Residents describe Rapid City, SD as dog-friendly, easy to park in, and pedestrian-friendly. See homes for sale in Rapid City, SD.
  • What are the closest schools to 402 E Madison St?
    The closest schools to 402 E Madison St in Rapid City, SD are Central High School - 41 (rated 2/10), General Beadle Elementary - 01 (Pre-K, rated 2/10), North Middle School - 35 (rated 2/10).
  • Does 402 E Madison St have air conditioning?
    Yes, 402 E Madison St in Rapid City, SD has air conditioning.
402 E Madison St, Rapid City, SD 57701 is a studio multi-family built in 1946. This property is currently available for sale and was listed by Black Hills AOR on Aug 15, 2026. The MLS # for this home is MLS# 180531.