207 Ash St · Midland, SD 57552

$105,000

2 bd · 1.0 ba · 1,500 sqft · SingleFamily · 142 Days on market

Built 1907 Fair condition

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Why this score? — see what drove the C grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +19.9/30.0
• ARV discount +7.5/15.0
• DSCR +6.3/10.0
• 1% rule +5.3/10.0
• Appreciation +5.0/10.0
• Schools +4.6/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks MLS

1907 house refreshed 2020. Two Bedrooms and one Bath Corner Lot

Key facts

• Built 1907
• Listed 142 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $105k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $127 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $92k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#204 in SD) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, crime D, amenities F.
• Kadoka Area School District 35-2 (rural): math 50% / reading 55% proficiency, ranked #59 of 148 in SD (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 1 active listings in the ZIP.

Forward outlook

• In year one you build about $4k of equity ($726 loan paydown + $3k appreciation (3.0% local appreciation)).
• At projected returns (3.0% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 142 days — a 12% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $28k; list at $105k implies a 282% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1907 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $92,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 142 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1907 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.03% ✓
• Cap rate: 7.74%
• Cash-on-cash: 5.17%
• DSCR: 1.23
• GRM: 8.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.3%
• Equity multiple: 1.70×
• Total profit: $20,726
• Equity at exit: $47,213

10-year hold

• IRR: 14.4%
• Equity multiple: 3.13×
• Total profit: $62,524
• Equity at exit: $72,760

Cash invested: $29,400 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 83 Strongly Landlord-Friendly
• State South Dakota: 83 Strongly Landlord-Friendly · R+16
• County: — inherits STATE
• City: — inherits STATE

3-day notice; mostly landlord-friendly.

Methodology + full state rankings →

ZIP-level market 57552

• Active inventory: 1
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,079 medium
• Mortgage (P&I): −$551
• Tax est. 1.5%: −$131 /mo · $1,575/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$227
• Net cashflow: $127

Break-even live

Break-even rent $919

Max offer price $105,000

Occupancy floor 83%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $105,000 Active 142 DOM
2. 2026-06-17
   days on market $105,000 Active 141 DOM
3. 2026-06-16
   days on market $105,000 Active 140 DOM
4. 2026-06-15
   days on market $105,000 Active 139 DOM
5. 2026-06-13
   days on market $105,000 Active 137 DOM
6. 2026-06-12
   days on market $105,000 Active 136 DOM
7. 2026-06-09
   days on market $105,000 Active 133 DOM
8. 2026-06-08
   days on market $105,000 Active 132 DOM
9. 2026-06-08
   days on market $105,000 Active 131 DOM
10. 2026-06-05
    days on market $105,000 Active 129 DOM
11. 2026-06-04
    days on market $105,000 Active 127 DOM
12. 2026-06-02
    days on market $105,000 Active 126 DOM
13. 2026-06-01
    days on market $105,000 Active 125 DOM
14. 2026-05-31
    days on market $105,000 Active 124 DOM
15. 2026-01-27
    listed $105,000 Active 65-char remark

    Show marketing remark (65 chars)

    1907 house refreshed 2020. Two Bedrooms and one Bath Corner Lot

16. 2019-02-10
    soldstatus $27,500 21-char remark

    Show marketing remark (21 chars)

    Great Rental property

17. 2019-01-12
    listed $30,000 21-char remark

    Show marketing remark (21 chars)

    Great Rental property

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $12,945
• − Mortgage interest: −$5,882
• − Property taxes: −$1,575
• − Insurance: −$525
• − Repairs & maintenance: −$1,036
• − Management: −$1,036
• − Depreciation: −$3,055
• Taxable loss: −$163
• Est. tax savings @ 24.0%: +$39
• After-tax cash flow: $1,558/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This property requires moderate renovations to improve its condition and increase its value. Key areas for improvement include the roof, exterior siding, and landscaping.

Repairs flagged

• Major roof — Visible damage to the roof
• Major exterior siding — Peeling paint and worn siding
• Minor landscaping — Overgrown vegetation

Value-add opportunities

• Both paint exterior — Enhances curb appeal and value
• Both repair roof — Fixes major structural issue and improves value
• Both landscaping — Improves curb appeal and value
• Both update kitchen and bathrooms — Modernizes interior and improves value

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Visible damage to the roof	Major	$15,000–50,000
exterior siding · Peeling paint and worn siding	Major	$15,000–50,000
landscaping · Overgrown vegetation	Minor	$500–3,000
Total estimated repair cost · 3 items		$30,500–103,000

Value-add ROI direction

• Both paint exterior — Enhances curb appeal and value ↑
• Both repair roof — Fixes major structural issue and improves value ↑
• Both landscaping — Improves curb appeal and value ↑
• Both update kitchen and bathrooms — Modernizes interior and improves value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Kadoka Area School District 35-2
• NCES district ID: 4680437
• Math proficiency: 50% ▬ 0.00%
• Reading proficiency: 55% ▲ 5.00%
• Median HH income: $38,659
• Composite: 45.68/100
• National rank: #5631
• State rank: #59 of 148 in SD

Livability — Midland

• Score: 63/100
• State rank: #204
• US rank: #15890

Category grades

Amenities F Commute F Cost of living A+ Crime D Employment D+ Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Midland, SD
• Population (ZIP): 532

Population outlook (Haakon County) Hauer SSP2

• Today (2025): 1,835 people
• By 2030: 1,818 · -0.9%
• By 2040: 1,834 · -0.1%
• By 2050: 1,886 · +2.8%
• By 2075: 2,278 · +24.1%
• By 2100: 2,818 · +53.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 5%
• Common ancestry: Portuguese 18% Italian 4% Slovak 2%
• Languages at home: 97% English-only · German/W. Germanic 3%

Political lean MEDSL · Haakon

• 2024 margin: Solid R (+79.9) · D 9.3% · R 89.2% · Other 1.4%
• 2008→2024 swing: -14.7pp toward R · 2008: -65.2pp · 2024: -79.9pp
• All cycles: 2024: R+79.9 2020: R+81.0 2016: R+82.3 2012: R+73.4 2008: R+65.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 0.70%
• F500 in state: 2

Industry mix (Fortune 500 HQ in SD)

Industry	F500 HQs	Revenue
▸Utilities	1	$1B

Price history

+250.0% since first listed

3 events — show timeline

• 2026-01-27 Listed $105,000 ForSaleByOwner.com
• 2019-02-10 Sold (MLS) $27,500 BHMLS
• 2019-01-12 Listed $30,000 BHMLS