Home Highlights
Multi-Family
Built in 1972
0.7 acre lot
Local Information
- Map ViewExplore the area around 545 Lincoln St.
- Schools2 Preschool Schools2 Elementary Schools1 Middle School1 High School
- Shop & Eat
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About this House
What's unique:Low-maintenance metal siding
An opportunity to own one of Custer’s established multifamily properties. Valley Hi Apartments offers 28 units, 14 studios at approx. 403sf and 14 one-bedrooms at approx. 528sf, in a walkable location close to downtown Custer and services. Built in 1972, the two-story, wood-framed, slab-on-grade buildings total approximately 17,480 square feet on 0.7 acre and feature low-maintenance metal siding. The property includes an on-site leasing office, two laundry rooms with owner-owned, coin-operated machines, and 26 on-site parking spaces, including 6 accessible spaces. Heat is hydronic hot water from two propane-fueled boilers in the first-floor mechanical room, served by a 1,000-gallon propane tank, with a common 108-gallon hot water system and a water softener. The property recently transitioned out of the HUD program, so the new owner is free to set rents and manage tenancy without HUD contract restrictions. Current all-inclusive rents are $889 for studios & $983 for one-bedrooms, with the owner paying utilities. Additional income comes from on-site laundry. Before the transition, the property historically ran at near-full occupancy with a waiting list. Key updates are already done. The flat roof received a new TPO membrane in 2022, the boiler circulation pumps were replaced in 2022, every unit has been converted from fuses to modern breaker panels, and new flooring has been installed in four units. Lease-up of the current vacancies, along with targeted unit updates, offers a clear path to stronger income. Because utilities are currently included in rent, separately metering unit electricity offers a new owner another opportunity to reduce operating expenses and increase net income. Offered at $1,700,000, approximately $60,700 per unit and $97 per sf. In-place cap rate approximately 6.4%; pro forma cap rate approximately 10.6% at stabalization.
Last check for updates: 35 minutes ago
Listing courtesy of Andrea Ronning
Aspen+Pine Realty
Source: Black Hills AOR, MLS#181589
Also Listed on Black Hills AOR.
Home Details for 545 Lincoln St
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Heating & Cooling Heating: Hot WaterNo CoolingAir Conditioning: NoneHas HeatingHeating Fuel: Hot Water |
Windows, Doors, Floors & Walls Window: Window Coverings |
Levels, Entrance, & Accessibility Entry Location: Community Entrance |
View Has a ViewView: City, Trees/Woods |
Security Security: Security System, Smoke Detector(s) |
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Exterior Home Features Foundation: Slab |
Parking & Garage No CarportNo Garage |
Frontage Not on Waterfront |
Water & Sewer Sewer: Septic (at site) |
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Days on Market: <1 day on Trulia |
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Year Built Year Built: 1972 |
Property Type / Style Property Type: Residential IncomeProperty Subtype: Multiplex |
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Price List Price: $1,700,000 |
Status Change & Dates Possession Timing: Negotiable |
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MLS Status: ACTIVE |
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Direction & Address City: CusterCommunity: None |
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Listing Agent Listing ID: 181589 |
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Lot Area: 0.70 acres |
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Mls Number: 181589 |
Around this home
What Locals Say about Custer
This October
Trick-or-Treat Score
Built from what locals say about this neighborhood.- 67% say there's holiday spirit
- 52% say neighbors are friendly
- 33% say there are community events
Trulia Trick or TreatStart Ghost Hunt
At least 7 Trulia users voted on each feature.
100 % Say parking is easy
93 % Say yards are well-kept
88 % Say there's wildlife
86 % Say people would walk alone at night
85 % Say kids play outside
83 % Say car is needed
83 % Say it's dog friendly
79 % Say it's quiet
67 % Say there's holiday spirit
64 % Say they plan to stay for at least 5 years
57 % Say it's walkable to grocery stores
52 % Say neighbors are friendly
44 % Say it's walkable to restaurants
43 % Say streets are well-lit
33 % Say there are community events
25 % Say there are sidewalks
Sourced by Trulia users. Learn more about our methodology.
Market trends in Custer
Last updated September 2026
Avg. sale price
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Sale-to-List Price
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Price per sq ft
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Available listings
38
7MoM
Sourced by Trulia Market Trends
Home Value
Learn more about this home's value by checking out the value of nearby homes.
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 |
|---|---|---|---|---|---|---|
0.01 | - | 1 | 1 | - | Off Market | |
0.01 | - | 2 | 2 | - | Off Market | |
0.01 | - | 1 | 1 | - | Off Market | |
0.03 | $346,000 | 2 | 1 | 925 | Off Market | |
0.04 | $261,900 | 3 | 1 | 1,210 | Off Market | |
0.04 | $285,200 | 2 | 2 | 1,135 | Off Market | |
0.04 | $363,500 | 2 | 2 | 1,388 | Off Market | |
0.05 | $331,900 | 3 | 2 | 1,008 | Off Market | |
0.05 | $267,800 | Studio | 1 | 825 | Off Market | |
0.06 | - | - | - | - | Off Market | |
0.06 | $374,100 | 2 | 1 | 1,191 | Off Market | |
0.07 | $268,600 | - | - | - | Off Market | |
0.07 | $245,300 | 3 | 2 | 1,025 | Off Market | |
0.08 | $224,800 | 3 | 2 | 1,440 | Off Market | |
0.08 | $203,500 | 2 | 1 | 1,274 | Off Market | |
0.08 | $236,600 | 4 | 2 | 1,098 | Off Market | |
0.08 | $347,300 | 4 | 3 | 1,176 | Off Market | |
0.08 | $304,600 | 3 | 2 | 1,008 | Off Market | |
0.08 | $303,800 | 3 | 2 | 1,366 | Off Market | |
0.08 | $171,400 | 2 | 1 | 1,148 | Off Market |
Price and Tax history
| Date | Event | Price |
|---|---|---|
Oct 20, 2026 Source: Black Hills AOR #181589 | Listed For Sale | $1,700,000 |
LGBTQ Local Legal Protections
LGBTQ Local Legal Protections
Andrea Ronning, Aspen+Pine Realty
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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545 Lincoln St, Custer, SD 57730 is a studio multi-family built in 1972. This property is currently available for sale and was listed by Black Hills AOR on Oct 20, 2026. The MLS # for this home is MLS# 181589.