115 E Turner St St · Irene, SD 57037

$75,000

4 bd · 1.0 ba · 1,182 sqft · SingleFamily public records · 18 Days on market

Built 1910 7,360 sqft lot Est $129k · 42% under ↓ 9% since listing

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +6.4/10.0
• Schools +4.1/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• 7,360 sq ft lot
• 2 garage spots
• Built 1910

Property features AI

Exterior

• Parking: Detached oversized garage (2 spaces, approximately 25x22)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; 1.5-story design; Above-grade living area reported; Below-grade unfinished area reported; Land is owned
• Construction: Vinyl siding; Composition roof; Other foundation type
• Exterior features: Covered patio; City lot

Interior

• Kitchen: Electric range; Microwave; Dishwasher
• Bedrooms: Three upper-level bedrooms; One main-level bedroom (bedroom four); Primary bedroom has a large pass-through closet
• Flooring: Carpet; Laminate
• Bathrooms: One full bathroom on the main level; No full bathrooms on the upper level
• Heating & cooling: Electric heating; Central air; Electric water heater
• Interior features: Master bedroom located on the main level; Main floor laundry; Three or more bedrooms on the same level; Den (extra room on main level); Crawl space and partial basement
• Laundry & utility: Washer and dryer; Main floor laundry

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $371 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $74k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#192 in SD) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, crime F, amenities F.
• Irene-Wakonda School District 13-3 (rural): math 40% / reading 50% proficiency, ranked #100 of 148 in SD (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Irene - Wakonda Elementary - 02 (math 32% / reading 47%, grade F, #169 of 253 statewide, top 71%, 162 students, 28% FRL); Irene - Wakonda High School - 01 (math 50% / reading 70%, grade C+, #31 of 151 statewide, top 32%, 82 students, 27% FRL) — zoned schools at 27% FRL track the district average.
• Market conditions: 2 active listings in the ZIP; 29 units permitted in Turner County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($519 loan paydown + $2k appreciation (2.7% local appreciation)).
• Turner County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.7% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($74k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $73,875 (1.5% below list)

Questions for the listing agent

1. Built in 1910 — 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. Crime grade is F 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?
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: 1.54% ✓
• Cap rate: 12.22%
• Cash-on-cash: 21.17%
• DSCR: 1.94
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $128,838
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
136 E Main St	0.06mi	3/1.0 (-1)	1,215 (+3%)	11mo	$132,500	$109	79
313 S Dakota Ave Ave	0.28mi	3/1.0 (-1)	1,252 (+6%)	8mo	$82,000	$65	66

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

Projected returns pro-forma

2.71% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.9%
• Equity multiple: 2.50×
• Total profit: $31,506
• Equity at exit: $32,491

10-year hold

• IRR: 27.8%
• Equity multiple: 4.84×
• Total profit: $80,594
• Equity at exit: $49,134

Cash invested: $21,000 (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 57037

• Home prices YoY: 1.5%
• Active inventory: 2
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,151 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$115 /mo · $1,375/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $371

Break-even live

Break-even rent $682

Max offer price $75,000

Occupancy floor 63%

Sensitivity live

Price	-10% $413	-5% $392	+0% $371	+5% $349	+10% $328
Rent	-10% $280	-5% $325	+0% $371	+5% $416	+10% $461
Rate	-1.0pp $408	-0.5pp $390	base $371	+0.5pp $351	+1.0pp $331

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-16
   status Pending
2. 2026-05-11
   price $75,000
3. 2026-04-24
   listed $82,000 Active

ⓘ 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: $1,375 · $115/mo
• Projected year-2 tax: $1,375 · $115/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 3/10 Moderate
• 🌡 Heat 2/10 Low 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: $13,818
• − Mortgage interest: −$4,201
• − Property taxes: −$1,375
• − Insurance: −$375
• − Repairs & maintenance: −$1,105
• − Management: −$1,105
• − Depreciation: −$2,182
• Taxable income: $3,474
• Est. tax owed @ 24.0%: −$834
• After-tax cash flow: $3,613/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: Irene-Wakonda School District 13-3
• NCES district ID: 4680439
• Math proficiency: 40% ▼ -15.00%
• Reading proficiency: 50% ▼ -10.00%
• Median HH income: $48,762
• Composite: 40.72/100
• National rank: #7599
• State rank: #100 of 148 in SD

Livability — Irene

• Score: 63/100
• State rank: #192
• US rank: #15082

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Irene, SD
• Population (ZIP): 908

Population outlook (Turner County) Hauer SSP2

• Today (2025): 8,006 people
• By 2030: 7,850 · -1.9%
• By 2040: 7,446 · -7.0%
• By 2050: 6,970 · -12.9%
• By 2075: 6,241 · -22.0%
• By 2100: 5,788 · -27.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Hispanic / Latino 3% Two or more races 2%
• Common ancestry: Portuguese 12% Iranian 6% Lithuanian 4%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 3% Other Indo-European 1%

Political lean MEDSL · Turner

• 2024 margin: Solid R (+51.3) · D 23.0% · R 74.3% · Other 2.6%
• 2008→2024 swing: -31.7pp toward R · 2008: -19.7pp · 2024: -51.3pp
• All cycles: 2024: R+51.3 2020: R+47.3 2016: R+47.6 2012: R+31.0 2008: R+19.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.71%
• Current HPI: 177.9232
• 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

-8.5% since first listed

3 events — show timeline

• 2026-05-16 Pending — REALTOR® Association of the Sioux Empire
• 2026-05-11 Price Changed $75,000 REALTOR® Association of the Sioux Empire
• 2026-04-24 Listed $82,000 REALTOR® Association of the Sioux Empire

Property tax history

+9.2%/yr

Latest (2025): $1,375 · -27.8% YoY. Source: county tax records.