607 Douglas Ave

Yankton, SD 57078

$49,900B

7 bd · 2.0 ba · 2,910 sqft · Built 1878 · SingleFamily · Active · 9 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,470/mo
• Mortgage (P&I): −$262
• Tax + insurance: −$83
• HOA: −$0
• Vac / Maint / Mgmt: −$309
• Net cashflow: $817/mo
• Annual: $9,802/yr
• Cap rate: 25.94%
• Cash-on-cash: 70.15%
• DSCR: 4.12
• 1% rule: 2.95%
• Cash to close: $13,972

Investor read

• This is a 7-bed/2.0-bath single-family listed at $50k.
• At list price, monthly cash flow is $817 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#23 in SD, #3,454 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: amenities F, commute F.
• Yankton School District 63-3 (town): math 49% / reading 60% proficiency, ranked #17 of 59 in SD (top 29%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Yankton Middle School - 02 (math 52% / reading 60%, grade B-, #34 of 143 statewide, top 23%, 606 students, 33% FRL); Yankton High School - 01 (math 42% / reading 75%, grade C, #50 of 151 statewide, top 33%, 942 students, 24% FRL) — zoned schools at 28% FRL track the district average.
• Watch-outs: built in 1878 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 193 active listings in the ZIP; 179 units permitted in Yankton County in 2024 (130 in 5+ unit buildings).
• Yankton County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1878 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.