818 NE 3rd Ave · Aberdeen, SD 57401

$89,900

2 bd · 2.0 ba · 728 sqft · SingleFamily public records · 6 Days on market

Built 1905 7,100 sqft lot Est $98k · 8% under

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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 +22.8/30.0
• ARV discount +11.0/15.0
• DSCR +7.3/10.0
• 1% rule +6.0/10.0
• Schools +4.2/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Why rent, when you can own your home! Clean and affordable, check out this 2 bedroom home with detached 2 stall garage and alley access. Living room carpet recently replaced, 100 amp breakers, furnace, shingles, gutters approximately 2 yrs old all per seller. Seller is not responsible for any repairs.

Key facts

• Good sized yard
• 7,100 sq ft lot
• 2 garage spots

Tags

• GOOD SIZED YARD
• DETACHED 2 STALL GARAGE
• CONVENIENT ALLEY ACCESS

Property features AI

Finance

• Other: Annual property tax approximately $1,414

Exterior

• Parking: Attached or detached 2-car garage
• Utilities: Public water; Public sewer (connected)
• Home design: Single-family residence; One and one-half stories
• Construction: Block foundation; Built with standard residential construction
• Exterior features: Composition roof; Lot roughly 50 x 142

Interior

• Kitchen: Range
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Full basement; Seven total rooms; Gas water heater
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $157 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($985 rent vs $90k).
• Cap rate 8.4% vs local median 2.9% in Aberdeen — 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 81/100 on livability (#7 in SD, #1,411 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute F.
• Aberdeen School District 06-1 (town): math 45% / reading 54% proficiency, ranked #33 of 59 in SD (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 174 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 86 units permitted in Brown County in 2024 (0 in 5+ unit buildings).
• This rent is only 17% of the median local income ($69k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Brown County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 14y 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 $49k; list at $90k implies a 83% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $89,900

Questions for the listing agent

1. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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.
5. 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.
6. 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: 1.10% ✓
• Cap rate: 8.38%
• Cash-on-cash: 7.47%
• DSCR: 1.33
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $97,552
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
524 N Dakota St	0.21mi	2/1.0	728 (0%)	6mo	$129,000	$177	82
106 N Arch St	0.27mi	3/2.0 (+1)	722 (-1%)	3mo	$80,000	$111	78
115 N Kline St	0.35mi	2/1.0	718 (-1%)	3mo	$39,990	$56	75
515 N Dakota St	0.19mi	2/1.0	816 (+12%)	1mo	$95,000	$116	66
824 NE 2nd Ave	0.08mi	3/2.0 (+1)	832 (+14%)	3mo	$231,500	$278	65
511 N Kline St	0.38mi	2/1.0	766 (+5%)	11mo	$75,000	$98	60
719 N Kline St	0.48mi	2/1.0	760 (+4%)	9mo	$102,000	$134	59
1109 N Lloyd St	0.59mi	3/2.0 (+1)	768 (+6%)	1mo	$135,000	$176	58
219 N 1st St	0.70mi	2/1.0	756 (+4%)	2mo	$45,000	$60	56
420 N 2nd St	0.75mi	2/2.0	770 (+6%)	4mo	$115,000	$149	52
116 NE 8th Ave	0.59mi	3/1.0 (+1)	815 (+12%)	7mo	$95,000	$117	38
715 N Kline St	0.47mi	3/1.0 (+1)	624 (-14%)	10mo	$157,500	$252	37

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: -4.9%
• Equity multiple: 0.82×
• Total profit: $-4,576
• Equity at exit: $13,404

10-year hold

• IRR: 4.8%
• Equity multiple: 1.35×
• Total profit: $8,923
• Equity at exit: $7,773

Cash invested: $25,172 (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 57401

• Active inventory: 174
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $985 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$112 /mo · $1,347/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$207
• Net cashflow: $157

Break-even live

Break-even rent $786

Max offer price $89,900

Occupancy floor 79%

Sensitivity live

Price	-10% $208	-5% $182	+0% $157	+5% $131	+10% $106
Rent	-10% $79	-5% $118	+0% $157	+5% $196	+10% $234
Rate	-1.0pp $202	-0.5pp $180	base $157	+0.5pp $133	+1.0pp $110

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1020 N 2nd St Aberdeen, SD	1.0	1.0	720	$995	$1.38	44d	1	0.92mi
1928 N Main St Aberdeen, SD	1.0–4.0	1.0–2.0	893	$993	$1.11	44d	1	1.23mi

Listing history 6 events

1. 2026-06-01
   days on market $89,900 Active 6 DOM
2. 2026-05-31
   days on market $89,900 Active 5 DOM
3. 2026-05-30
   days on market $89,900 Active 4 DOM
4. 2026-05-27
   listed $89,900 Active
5. 2012-08-08
   soldstatus $49,000 302-char remark

   Show marketing remark (302 chars)

   Why rent, when you can own your home! Clean and affordable, check out this 2 bedroom home with detached 2 stall garage and alley access. Living room carpet recently replaced, 100 amp breakers, furnace, shingles, gutters approximately 2 yrs old all per seller. Seller is not responsible for any repairs.

6. 2012-01-30
   listed $49,900 302-char remark

   Show marketing remark (302 chars)

   Why rent, when you can own your home! Clean and affordable, check out this 2 bedroom home with detached 2 stall garage and alley access. Living room carpet recently replaced, 100 amp breakers, furnace, shingles, gutters approximately 2 yrs old all per seller. Seller is not responsible for any repairs.

ⓘ 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: $1,347 · $112/mo
• Projected year-2 tax: $1,347 · $112/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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°F today · 13 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: $11,814
• − Mortgage interest: −$5,036
• − Property taxes: −$1,347
• − Insurance: −$450
• − Repairs & maintenance: −$945
• − Management: −$945
• − Depreciation: −$2,615
• Taxable income: $477
• Est. tax owed @ 24.0%: −$114
• After-tax cash flow: $1,765/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: Aberdeen School District 06-1
• NCES district ID: 4602070
• Math proficiency: 45% ▼ -5.00%
• Reading proficiency: 54% ▼ -4.00%
• Median HH income: $49,230
• Composite: 42.27/100
• National rank: #3273
• State rank: #33 of 59 in SD

Livability — Aberdeen

• Score: 81/100
• State rank: #7
• US rank: #1411

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Aberdeen, SD
• County: Brown County · 31,939 people
• City population: 31,939
• Metro: Aberdeen, SD
• Population (ZIP): 31,939
• Household income: $68,835
• Rent vs Own: 35.3% rent · 64.7% own
• Severe rent burden: 1220.0

Population outlook (Brown County) Hauer SSP2

• Today (2025): 43,830 people
• By 2030: 46,663 · +6.5%
• By 2040: 52,852 · +20.6%
• By 2050: 59,898 · +36.7%
• By 2075: 82,750 · +88.8%
• By 2100: 112,639 · +157.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Two or more races 6% Native American 5% Hispanic / Latino 5% Asian 3%
• Common ancestry: Portuguese 12% Scotch-Irish 3% Lithuanian 2%
• Foreign-born: 4% · Canada, South Korea, Philippines
• Languages at home: 93% English-only · Spanish 3% Other Asian/Pacific 1% German/W. Germanic 1%

Political lean MEDSL · Brown

• 2024 margin: Strong R (+26.8) · D 35.6% · R 62.5% · Other 1.9%
• 2008→2024 swing: -32.4pp toward R · 2008: 5.6pp · 2024: -26.8pp
• All cycles: 2024: R+26.8 2020: R+23.0 2016: R+25.8 2012: R+6.7 2008: D+5.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -224.77%
• Current HPI: 185.713
• Rent YoY: —
• Metro: Aberdeen, 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

+80.2% since first listed

3 events — show timeline

• 2026-05-27 Listed $89,900 ABOR
• 2012-08-08 Sold (MLS) $49,000 ABOR
• 2012-01-30 Listed $49,900 ABOR

Property tax history

+2.9%/yr

Latest (2025): $1,347 · +7.3% YoY. Source: county tax records.