714 NW 3rd St St · Madison, SD 57042

$104,900

3 bd · 1.0 ba · 1,097 sqft · SingleFamily public records · 54 Days on market

Built 1914 10,725 sqft lot $96/sqft · 24% below area Est $111k · 5% under

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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
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• ARV discount +9.8/15.0
• Schools +4.1/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come check out this 874 sq. ft. two bedroom, one bath home in a fantastic location! New furnace and 2/3 of the foundation is new too! Detach garage with alley access. Affordable living with tons of equity building!

Key facts

• New furnace
• New vanity
• New shower

Tags

• RANCH-STYLE HOME
• COZY ENTRY
• SPACIOUS LIVING ROOM
• NEW SHOWER
• NEW VANITY
• NEW FURNACE

Property features AI

Exterior

• Utilities: Public water; Public sewer; Electric service
• Home design: Single-family ranch-style home; One story
• Construction: Vinyl siding; Block foundation; Composition roof; Built above grade with approximately 874 finished square feet on main level
• Exterior features: City lot; Lot dimensions about 75 x 143

Interior

• Kitchen: Kitchen on main level (approx. 8 x 12); Includes electric range and refrigerator; Vinyl flooring in the kitchen
• Bedrooms: Main-level master bedroom (9 x 12) with carpet and recessed lights; Main-level second bedroom (10 x 12) with carpet and recessed lights
• Flooring: Carpet in bedrooms; Vinyl in kitchen and entryway; Laminate in living/dining area
• Bathrooms: One full bathroom; Main-level bathroom remodeled with new 3/4 shower and vanity (approx. 5 x 6)
• Heating & cooling: Window air conditioning units
• Interior features: Partial basement; Dining/Living room area; Recessed lighting
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $536 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $105k).
• Recommended offer: $102k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.4% vs local median 2.8% in Madison — 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 75/100 on livability (#26 in SD, #3,922 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Madison Central School District 39-2 (town): math 41% / reading 55% proficiency, ranked #36 of 59 in SD (top 61%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 130 active listings in the ZIP; 3 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; 35 units permitted in Lake County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $725 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Lake County population projected at +32% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 54 days — a 3% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• 3 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.
• Current owner paid $78k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $101,753 (3.0% below list)

Questions for the listing agent

1. It's been on market 54 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 1914 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.48% ✓
• Cap rate: 12.42%
• Cash-on-cash: 21.88%
• DSCR: 1.97
• GRM: 5.6

CMA / ARV

• ARV (median comp): $110,615
• List price: $104,900
• Delta: -5.17%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
717 NW 2nd St St	0.11mi	2/1.0 (-1)	1,072 (-2%)	6mo	$132,000	$123	81
521 N Olive Ave Ave	0.17mi	3/2.0	1,106 (+1%)	9mo	$173,000	$156	80
609 NW 2nd St St	0.14mi	3/1.0	1,172 (+7%)	6mo	$163,000	$139	77
123 N Chicago Ave Ave	0.30mi	3/1.0	1,040 (-5%)	3mo	$181,000	$174	75
916 NW 3rd St	0.14mi	3/2.0	1,088 (-1%)	21mo	$184,900	$170	70
715 N Catherine Ave	0.31mi	3/1.0	1,176 (+7%)	10mo	$210,000	$179	65
610 NW 2nd St	0.11mi	3/1.5	1,172 (+7%)	20mo	$166,600	$142	64
212 S Chicago Ave	0.35mi	3/2.0	1,000 (-9%)	18mo	$139,000	$139	50
505 S Union Ave	0.61mi	2/1.0 (-1)	1,010 (-8%)	10mo	$115,000	$114	45
326 NW 7th St	0.42mi	4/1.0 (+1)	1,172 (+7%)	23mo	$142,500	$122	45
920 N Harth Ave	0.71mi	3/1.0	1,140 (+4%)	23mo	$175,000	$154	41

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: 14.6%
• Equity multiple: 1.58×
• Total profit: $17,118
• Equity at exit: $15,641

10-year hold

• IRR: 23.3%
• Equity multiple: 3.00×
• Total profit: $58,838
• Equity at exit: $9,070

Cash invested: $29,372 (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 57042

• Active inventory: 130
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,548 medium
• Mortgage (P&I): −$550
• Tax from tax record: −$93 /mo · $1,121/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$325
• Net cashflow: $536

Break-even live

Break-even rent $870

Max offer price $104,900

Occupancy floor 60%

Sensitivity live

Price	-10% $595	-5% $565	+0% $536	+5% $506	+10% $476
Rent	-10% $413	-5% $475	+0% $536	+5% $597	+10% $658
Rate	-1.0pp $588	-0.5pp $562	base $536	+0.5pp $508	+1.0pp $481

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: $26,225
• Closing costs: $3,147
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
418 8th St SW Madison, SD	1.0–2.0	1.0–2.5	1012	$1,590	$1.57	45d	1	0.79mi
415 SW 8th St Madison, SD	1.0–2.0	1.0–2.0	1057	$1,590	$1.50	45d	1	0.89mi
1034 Washington Ave S Madison, SD	2.0	1.0	627	$1,350	$2.15	45d	1	1.19mi

Listing history 23 events

1. 2026-06-21
   days on market $104,900 Active 54 DOM
2. 2026-06-21
   days on market $104,900 Active 53 DOM
3. 2026-06-18
   days on market $104,900 Active 51 DOM
4. 2026-06-17
   days on market $104,900 Active 50 DOM
5. 2026-06-16
   days on market $104,900 Active 49 DOM
6. 2026-06-15
   days on market $104,900 Active 48 DOM
7. 2026-06-13
   days on market $104,900 Active 46 DOM
8. 2026-06-12
   days on market $104,900 Active 45 DOM
9. 2026-06-09
   days on market $104,900 Active 42 DOM
10. 2026-06-08
    days on market $104,900 Active 41 DOM
11. 2026-06-08
    days on market $104,900 Active 40 DOM
12. 2026-06-05
    days on market $104,900 Active 38 DOM
13. 2026-06-04
    days on market $104,900 Active 36 DOM
14. 2026-06-02
    days on market $104,900 Active 35 DOM
15. 2026-06-01
    days on market $104,900 Active 34 DOM
16. 2026-05-31
    days on market $104,900 Active 33 DOM
17. 2026-04-28
    listed $109,900 Active 833-char remark
18. 2022-04-18
    status Pending 214-char remark

    Show marketing remark (214 chars)

    Come check out this 874 sq. ft. two bedroom, one bath home in a fantastic location! New furnace and 2/3 of the foundation is new too! Detach garage with alley access. Affordable living with tons of equity building!

19. 2022-04-18
    soldstatus $77,500 Sold 214-char remark

    Show marketing remark (214 chars)

    Come check out this 874 sq. ft. two bedroom, one bath home in a fantastic location! New furnace and 2/3 of the foundation is new too! Detach garage with alley access. Affordable living with tons of equity building!

20. 2022-02-06
    historical Active - Contingent Misc 214-char remark

    Show marketing remark (214 chars)

    Come check out this 874 sq. ft. two bedroom, one bath home in a fantastic location! New furnace and 2/3 of the foundation is new too! Detach garage with alley access. Affordable living with tons of equity building!

21. 2021-12-13
    listed $74,900 Active - New 214-char remark

    Show marketing remark (214 chars)

    Come check out this 874 sq. ft. two bedroom, one bath home in a fantastic location! New furnace and 2/3 of the foundation is new too! Detach garage with alley access. Affordable living with tons of equity building!

22. 2021-06-12
    historical
23. 2021-04-30
    listed $74,900

ⓘ 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: $1,121 · $93/mo
• Projected year-2 tax: $1,374 · $115/mo
• Expected delta: +$254/yr (+$21/mo · 22.6%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥97°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: $18,575
• − Mortgage interest: −$5,876
• − Property taxes: −$1,121
• − Insurance: −$524
• − Repairs & maintenance: −$1,486
• − Management: −$1,486
• − Depreciation: −$3,052
• Taxable income: $5,030
• Est. tax owed @ 24.0%: −$1,207
• After-tax cash flow: $5,221/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: Madison Central School District 39-2
• NCES district ID: 4639600
• Math proficiency: 41% ▼ -8.00%
• Reading proficiency: 55% ▼ -3.00%
• Median HH income: $47,304
• Composite: 40.82/100
• National rank: #3635
• State rank: #36 of 59 in SD

Livability — Madison

• Score: 75/100
• State rank: #26
• US rank: #3922

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Madison, SD
• Population (ZIP): 7,900

Population outlook (Lake County) Hauer SSP2

• Today (2025): 15,062 people
• By 2030: 16,261 · +8.0%
• By 2040: 18,290 · +21.4%
• By 2050: 19,881 · +32.0%
• By 2075: 23,907 · +58.7%
• By 2100: 29,664 · +96.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 4% Two or more races 2%
• Common ancestry: Portuguese 20% Iranian 3% Scottish 2%
• Foreign-born: 1% · China
• Languages at home: 98% English-only · German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Lake

• 2024 margin: Solid R (+31.2) · D 33.5% · R 64.7% · Other 1.9%
• 2008→2024 swing: -31.8pp toward R · 2008: 0.7pp · 2024: -31.2pp
• All cycles: 2024: R+31.2 2020: R+27.5 2016: R+25.4 2012: R+11.1 2008: D+0.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -111.13%
• Current HPI: 200.0944
• 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

+40.1% since first listed

8 events — show timeline

• 2026-05-19 Price Changed $104,900 REALTOR® Association of the Sioux Empire
• 2026-04-28 Listed $109,900 REALTOR® Association of the Sioux Empire
• 2022-04-18 Pending — REALTOR® Association of the Sioux Empire
• 2022-04-18 Sold (MLS) $77,500 REALTOR® Association of the Sioux Empire
• 2022-02-06 Contingent — REALTOR® Association of the Sioux Empire
• 2021-12-13 Listed $74,900 REALTOR® Association of the Sioux Empire
• 2021-06-12 Listing Removed — REALTOR® Association of the Sioux Empire
• 2021-04-30 Listed $74,900 REALTOR® Association of the Sioux Empire

Property tax history

+3.0%/yr

Latest (2025): $1,121 · +5.8% YoY. Source: county tax records.