708 5th Ave W · Lemmon, SD 57638

$119,000

3 bd · 1.0 ba · 1,128 sqft · SingleFamily public records · 85 Days on market

Built 1948 6,650 sqft lot $105/sqft · 44% above area Est $83k · 44% over

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Why this score? — see what drove the D 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 +13.5/30.0
• Appreciation +6.1/10.0
• Schools +4.6/10.0
• DSCR +4.1/10.0
• Livability +4.0/5.0
• 1% rule +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks MLS

Welcome home to this inviting and well-maintained 3-bedroom, 1-bath property designed for comfortable, easy living. Featuring main floor laundry no-basement layout, everything you need is conveniently on one level. Recent updates include new siding, adding to the home's curb appeal and value. Enjoy year-round comfort with central cooling and propane heating. Outside, you'll find a detached single-car garage, with workshop area This home offers a functional layout with plenty of potential--perfect for first-time buyers, downsizers, or anyone looking for low-maintenance living.

Key facts

• 6,650 sq ft lot
• Garage
• Built 1948

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $119k.

Deal economics

• At list price, monthly cash flow is $5 ($62/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $104k (12.5% below list).
• Recommended offer: $104k (12.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 79/100 on livability (#8 in SD, #2,009 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools C-, health & safety D+, amenities D.
• Lemmon School District 52-4 (rural): math 50% / reading 55% proficiency, ranked #60 of 148 in SD (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 20 active listings in the ZIP.

Forward outlook

• In year one you build about $3k of equity ($823 loan paydown + $3k appreciation (2.2% local appreciation)).
• Perkins County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (2.2% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~8 years — after that, you're playing with house money.
• By year 10, 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 85 days — a 6% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y 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: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $104,108 (12.5% below list)

Questions for the listing agent

1. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 0.87% ✗
• Cap rate: 6.34%
• Cash-on-cash: 0.18%
• DSCR: 1.01
• GRM: 9.5

CMA / ARV

• ARV (median comp): $82,733
• List price: $119,000
• Delta: 43.84%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
901 2nd Ave W	0.20mi	4/2.0 (+1)	1,131 (+0%)	2mo	$128,000	$113	79
511 4th Ave W	0.14mi	3/1.0	1,064 (-6%)	12mo	$59,900	$56	74
506 1st Ave W	0.31mi	3/1.0	978 (-13%)	5mo	$45,000	$46	59
501 4th St W	0.28mi	3/1.5	1,248 (+11%)	16mo	$139,900	$112	54
108 4th Ave W	0.44mi	3/1.0	1,245 (+10%)	22mo	$81,000	$65	44

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

Projected returns pro-forma

2.18% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 5.3%
• Equity multiple: 1.29×
• Total profit: $9,596
• Equity at exit: $48,105

10-year hold

• IRR: 8.7%
• Equity multiple: 2.21×
• Total profit: $40,274
• Equity at exit: $70,180

Cash invested: $33,320 (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 57638

• Home prices YoY: 1.4%
• Active inventory: 20
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,041 medium
• Mortgage (P&I): −$624
• Tax from tax record: −$144 /mo · $1,724/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$219
• Net cashflow: $5

Break-even live

Break-even rent $1,035

Max offer price $119,000

Occupancy floor 95%

Sensitivity live

Price	-10% $72	-5% $39	+0% $5	+5% $-29	+10% $-62
Rent	-10% $-77	-5% $-36	+0% $5	+5% $46	+10% $87
Rate	-1.0pp $65	-0.5pp $35	base $5	+0.5pp $-26	+1.0pp $-57

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-21
   days on market $119,000 Active 85 DOM
2. 2026-06-18
   days on market $119,000 Active 83 DOM
3. 2026-06-17
   days on market $119,000 Active 82 DOM
4. 2026-06-16
   days on market $119,000 Active 81 DOM
5. 2026-06-15
   days on market $119,000 Active 80 DOM
6. 2026-06-13
   days on market $119,000 Active 78 DOM
7. 2026-06-12
   days on market $119,000 Active 77 DOM
8. 2026-06-09
   days on market $119,000 Active 74 DOM
9. 2026-06-08
   days on market $119,000 Active 73 DOM
10. 2026-06-08
    days on market $119,000 Active 72 DOM
11. 2026-06-05
    days on market $119,000 Active 70 DOM
12. 2026-06-04
    days on market $119,000 Active 68 DOM
13. 2026-06-02
    days on market $119,000 Active 67 DOM
14. 2026-06-01
    days on market $119,000 Active 66 DOM
15. 2026-05-31
    days on market $119,000 Active 65 DOM
16. 2026-03-27
    listed $119,000 Active 583-char remark

    Show marketing remark (583 chars)

    Welcome home to this inviting and well-maintained 3-bedroom, 1-bath property designed for comfortable, easy living. Featuring main floor laundry no-basement layout, everything you need is conveniently on one level. Recent updates include new siding, adding to the home's curb appeal and value. Enjoy year-round comfort with central cooling and propane heating. Outside, you'll find a detached single-car garage, with workshop area This home offers a functional layout with plenty of potential--perfect for first-time buyers, downsizers, or anyone looking for low-maintenance living.

17. 2023-09-23
    soldstatus Closed 768-char remark

    Show marketing remark (768 chars)

    This 3 bedroom, 1 bath home with 1-car detached garage sits on a corner lot across the street from the new Lemmon High school and 2 blocks from the pool & elementary school. You'll find an oversized single car garage with room to park your vehicle plus a storage area on one end, a carport & covered patio all within steps of the back door. Easy access with everything on one level, propane forced air furnace, central air. Sells with stove, 2 refrigerators, microwave and washer & dryer, murphy bed and propane tank. No furniture? No problem. There is an option to buy fully furnished. Just minutes from Shadehill Reservoir and Grand River National Grassland for excellent outdoor recreation including hunting, fishing & camping. Sells as is.

18. 2023-09-22
    soldstatus $105,000 Closed
19. 2023-09-06
    status Pending
20. 2023-08-12
    status Active
21. 2023-08-09
    historical
22. 2023-08-01
    listed $115,000 Active 768-char remark

    Show marketing remark (768 chars)

    This 3 bedroom, 1 bath home with 1-car detached garage sits on a corner lot across the street from the new Lemmon High school and 2 blocks from the pool & elementary school. You'll find an oversized single car garage with room to park your vehicle plus a storage area on one end, a carport & covered patio all within steps of the back door. Easy access with everything on one level, propane forced air furnace, central air. Sells with stove, 2 refrigerators, microwave and washer & dryer, murphy bed and propane tank. No furniture? No problem. There is an option to buy fully furnished. Just minutes from Shadehill Reservoir and Grand River National Grassland for excellent outdoor recreation including hunting, fishing & camping. Sells as is.

23. 2023-08-01
    listed $115,000 Active

    Show marketing remark (768 chars)

    This 3 bedroom, 1 bath home with 1-car detached garage sits on a corner lot across the street from the new Lemmon High school and 2 blocks from the pool & elementary school. You'll find an oversized single car garage with room to park your vehicle plus a storage area on one end, a carport & covered patio all within steps of the back door. Easy access with everything on one level, propane forced air furnace, central air. Sells with stove, 2 refrigerators, microwave and washer & dryer, murphy bed and propane tank. No furniture? No problem. There is an option to buy fully furnished. Just minutes from Shadehill Reservoir and Grand River National Grassland for excellent outdoor recreation including hunting, fishing & camping. Sells as is.

ⓘ 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: $1,724 · $144/mo
• Projected year-2 tax: $1,724 · $144/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 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,493
• − Mortgage interest: −$6,666
• − Property taxes: −$1,724
• − Insurance: −$595
• − Repairs & maintenance: −$999
• − Management: −$999
• − Depreciation: −$3,462
• Taxable loss: −$1,953
• Est. tax savings @ 24.0%: +$469
• After-tax cash flow: $530/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: Lemmon School District 52-4
• NCES district ID: 4641520
• Math proficiency: 50% ▬ 0.00%
• Reading proficiency: 55% ▲ 5.00%
• Median HH income: $38,532
• Composite: 45.67/100
• National rank: #5633
• State rank: #60 of 148 in SD

Livability — Lemmon

• Score: 79/100
• State rank: #8
• US rank: #2009

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lemmon, SD
• Population (ZIP): 1,963

Population outlook (Perkins County) Hauer SSP2

• Today (2025): 3,128 people
• By 2030: 3,207 · +2.5%
• By 2040: 3,391 · +8.4%
• By 2050: 3,602 · +15.2%
• By 2075: 4,340 · +38.7%
• By 2100: 4,754 · +52.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Native American 4% Two or more races 1% Hispanic / Latino 1%
• Common ancestry: Portuguese 21% Scottish 2% Scotch-Irish 1%
• Foreign-born: 1% · Canada

Political lean MEDSL · Perkins

• 2024 margin: Solid R (+70.0) · D 14.3% · R 84.3% · Other 1.3%
• 2008→2024 swing: -34.3pp toward R · 2008: -35.8pp · 2024: -70.0pp
• All cycles: 2024: R+70.0 2020: R+69.6 2016: R+71.3 2012: R+55.7 2008: R+35.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.18%
• Current HPI: 152.8514
• 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

+3.5% since first listed

8 events — show timeline

• 2026-03-27 Listed $119,000 Badlands BOR MLS
• 2023-09-23 Sold (MLS) — Badlands BOR MLS
• 2023-09-22 Sold (MLS) $105,000 MRAOR
• 2023-09-06 Pending — MRAOR
• 2023-08-12 Relisted — MRAOR
• 2023-08-09 Delisted — MRAOR
• 2023-08-01 Listed $115,000 MRAOR
• 2023-08-01 Listed $115,000 Badlands BOR MLS

Property tax history

+8.4%/yr

Latest (2025): $1,724 · +17.6% YoY. Source: county tax records.