402 E 11th Ave Ave · Mitchell, SD 57301

$73,500

4 bd · 1.0 ba · 1,421 sqft · SingleFamily public records · 33 Days on market

Built 1940 10,672 sqft lot

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.9/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming starter home or possible investment property. This home offers main floor living throughout with a zero stair entry. It sits on a large corner lot with a ton of yard space including a 2 stall garage. Many improvements have been made throughout, including new tile floors, carpets, new kit. counters, large sink, backsplash and pantry that make this updated home a must see.

Key facts

• Main level living
• Huge garage
• Living room

Tags

• MAIN LEVEL LIVING
• SLAB ON GRADE
• LIVING ROOM
• FAMILY ROOM
• HUGE GARAGE

Property features AI

Exterior

• Parking: Detached 2-car garage (30 x 28)
• Utilities: Public water; Public sewer
• Home design: Single-family ranch-style residence; Above-grade living area present
• Construction: Synthetic stucco exterior; Slab foundation; Composition roof; Built as a single-story ranch
• Exterior features: Corner lot; Land is owned

Interior

• Bedrooms: Bedrooms located on the main level
• Flooring: Carpet flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot water heating; One water heater
• Interior features: Three or more bedrooms on the same level; 7 total rooms; No basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $74k.

Deal economics

• At list price, monthly cash flow is $420 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $74k).
• Recommended offer: $71k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.1% vs local median 2.5% in Mitchell — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 77/100 on livability (#18 in SD, #2,969 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities D+, commute F.
• Mitchell School District 17-2 (town): math 55% / reading 62% proficiency, ranked #11 of 59 in SD (top 19%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Gertie Belle Rogers Elementary - 04 (math 52% / reading 52%, grade C-, #98 of 253 statewide, top 42%, 390 students, 37% FRL).
• Market conditions: 136 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 48 units permitted in Davison County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $508 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Davison County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($71k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y 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.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $71,295 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.80% ✓
• Cap rate: 13.14%
• Cash-on-cash: 24.47%
• DSCR: 2.09
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $200,361
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
310 E 13th Ave	0.15mi	3/2.0 (-1)	1,442 (+2%)	1mo	$252,000	$175	81
309 E 9th Ave	0.17mi	3/2.0 (-1)	1,512 (+6%)	1mo	$161,000	$106	72
924 E 4th Ave	0.65mi	4/1.0	1,409 (-1%)	7mo	$198,500	$141	62
909 E 12th Ave	0.36mi	3/2.0 (-1)	1,406 (-1%)	12mo	$265,000	$188	62
709 E 5th Ave Ave	0.52mi	3/1.5 (-1)	1,443 (+2%)	10mo	$75,000	$52	58
504 E 4th Ave	0.51mi	3/1.5 (-1)	1,379 (-3%)	13mo	$195,000	$141	53
623 E 5th Ave	0.50mi	3/2.0 (-1)	1,464 (+3%)	12mo	$200,000	$137	52
609 E 3rd St	0.62mi	3/1.5 (-1)	1,347 (-5%)	13mo	$228,000	$169	45
608 W 14th Ave	0.64mi	3/2.0 (-1)	1,349 (-5%)	10mo	$115,000	$85	44
624 E 4th Ave	0.54mi	3/1.5 (-1)	1,497 (+5%)	18mo	$205,000	$137	44
1705 N Wisconsin St	0.74mi	3/2.0 (-1)	1,510 (+6%)	5mo	$240,000	$159	42
617 N Wisconsin St	0.67mi	3/2.5 (-1)	1,606 (+13%)	2mo	$209,000	$130	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 17.9%
• Equity multiple: 1.72×
• Total profit: $14,907
• Equity at exit: $10,959

10-year hold

• IRR: 26.4%
• Equity multiple: 3.32×
• Total profit: $47,769
• Equity at exit: $6,355

Cash invested: $20,580 (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 57301

• Active inventory: 136
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,324 high
• Mortgage (P&I): −$385
• Tax from tax record: −$210 /mo · $2,524/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$278
• Net cashflow: $420

Break-even live

Break-even rent $793

Max offer price $73,500

Occupancy floor 63%

Sensitivity live

Price	-10% $461	-5% $440	+0% $420	+5% $399	+10% $378
Rent	-10% $315	-5% $367	+0% $420	+5% $472	+10% $524
Rate	-1.0pp $457	-0.5pp $438	base $420	+0.5pp $401	+1.0pp $381

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: $18,375
• Closing costs: $2,205
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
910 N Winsor St Mitchell, SD	3.0	1.0	996	$1,300	$1.31	45d	1	0.31mi
122 W 9th Ave Unit 122 1/2 Mitchell, SD	3.0	1.0	965	$1,000	$1.04	45d	1	0.32mi
420 E 6th Ave Unit 2 (back) Mitchell, SD	3.0	1.0	1542	$1,200	$0.78	45d	1	0.36mi
401 W 11th Ave Mitchell, SD	3.0	1.0	1196	$1,400	$1.17	45d	1	0.45mi
605 W 10th Ave Mitchell, SD	4.0	1.0	1200	$1,450	$1.21	45d	1	0.61mi
933 E 5th Ave Mitchell, SD	3.0	1.0	1138	$1,450	$1.27	45d	1	0.62mi
509 E 1st Ave Mitchell, SD	3.0	1.0	1425	$1,350	$0.95	45d	1	0.75mi
316 W 2nd Ave Mitchell, SD	4.0	2.0	1726	$1,450	$0.84	45d	1	0.77mi
623 E Hanson Ave Mitchell, SD	3.0	1.0	1023	$1,200	$1.17	45d	1	0.83mi
310 S Edmunds St Mitchell, SD	4.0	1.0	1399	$1,450	$1.04	45d	1	1.01mi
1803 E 1st Ave Mitchell, SD	3.0	1.0	960	$1,100	$1.15	45d	1	1.28mi
111 E Juniper Ave Unit 9 Mitchell, SD	3.0	2.5	1737	$1,950	$1.12	45d	1	1.50mi

Listing history 21 events

1. 2026-06-21
   days on market $73,500 Active 33 DOM
2. 2026-06-19
   days on market $73,500 Active 31 DOM
3. 2026-06-18
   days on market $73,500 Active 30 DOM
4. 2026-06-17
   days on market $73,500 Active 29 DOM
5. 2026-06-16
   days on market $73,500 Active 28 DOM
6. 2026-06-15
   days on market $73,500 Active 27 DOM
7. 2026-06-14
   days on market $73,500 Active 25 DOM
8. 2026-06-12
   days on market $73,500 Active 24 DOM
9. 2026-06-09
   days on market $73,500 Active 21 DOM
10. 2026-06-08
    days on market $73,500 Active 20 DOM
11. 2026-06-07
    days on market $73,500 Active 19 DOM
12. 2026-06-05
    days on market $73,500 Active 17 DOM
13. 2026-06-04
    days on market $73,500 Active 15 DOM
14. 2026-06-02
    days on market $73,500 Active 14 DOM
15. 2026-06-01
    days on market $73,500 Active 13 DOM
16. 2026-05-31
    days on market $73,500 Active 12 DOM
17. 2026-05-31
    days on market $73,500 Active 11 DOM
18. 2026-05-18
    listed $73,500 Active
19. 2021-07-09
    soldstatus $138,000 382-char remark

    Show marketing remark (382 chars)

    Charming starter home or possible investment property. This home offers main floor living throughout with a zero stair entry. It sits on a large corner lot with a ton of yard space including a 2 stall garage. Many improvements have been made throughout, including new tile floors, carpets, new kit. counters, large sink, backsplash and pantry that make this updated home a must see.

20. 2021-04-08
    listed $140,000 382-char remark

    Show marketing remark (382 chars)

    Charming starter home or possible investment property. This home offers main floor living throughout with a zero stair entry. It sits on a large corner lot with a ton of yard space including a 2 stall garage. Many improvements have been made throughout, including new tile floors, carpets, new kit. counters, large sink, backsplash and pantry that make this updated home a must see.

21. 2019-08-01
    soldstatus $52,000

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

Tax reassessment forecast SD · Resets to sale price

• Current annual tax: $2,524 · $210/mo
• Projected year-2 tax: $2,524 · $210/mo
• Expected delta: $0/yr ($0/mo · -0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,889
• − Mortgage interest: −$4,117
• − Property taxes: −$2,524
• − Insurance: −$368
• − Repairs & maintenance: −$1,271
• − Management: −$1,271
• − Depreciation: −$2,138
• Taxable income: $4,200
• Est. tax owed @ 24.0%: −$1,008
• After-tax cash flow: $4,027/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.

Schools (NCES district)

• District: Mitchell School District 17-2
• NCES district ID: 4648390
• Math proficiency: 55% ▬ 0.00%
• Reading proficiency: 62% ▲ 5.00%
• Median HH income: $45,912
• Composite: 49.42/100
• National rank: #2008
• State rank: #11 of 59 in SD

Livability — Mitchell

• Score: 77/100
• State rank: #18
• US rank: #2969

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mitchell, SD
• County: Davison County · 19,104 people
• City population: 19,104
• Metro: Mitchell, SD
• Population (ZIP): 19,104
• Household income: $65,620
• Rent vs Own: 38.4% rent · 61.6% own
• Severe rent burden: 537.0

Population outlook (Davison County) Hauer SSP2

• Today (2025): 20,529 people
• By 2030: 20,856 · +1.6%
• By 2040: 21,415 · +4.3%
• By 2050: 21,925 · +6.8%
• By 2075: 24,245 · +18.1%
• By 2100: 29,222 · +42.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Hispanic / Latino 5% Native American 4% Two or more races 3%
• Common ancestry: Portuguese 10% Iranian 7% Lithuanian 3%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Davison

• 2024 margin: Solid R (+37.8) · D 29.9% · R 67.7% · Other 2.5%
• 2008→2024 swing: -23.8pp toward R · 2008: -13.9pp · 2024: -37.8pp
• All cycles: 2024: R+37.8 2020: R+35.1 2016: R+35.2 2012: R+21.5 2008: R+13.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -136.01%
• Current HPI: 179.7909
• Rent YoY: —
• Metro: Mitchell, SD
• 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

+41.3% since first listed

4 events — show timeline

• 2026-05-18 Listed $73,500 REALTOR® Association of the Sioux Empire
• 2021-07-09 Sold (MLS) $138,000 MBOR
• 2021-04-08 Listed $140,000 MBOR
• 2019-08-01 Sold (Public Records) $52,000 Public Records

Property tax history

+8.8%/yr

Latest (2025): $2,524 · +47.1% YoY. Source: county tax records.