128 3rd Ave #6 · Fort Pierre, SD 57532

$65,000

2 bd · 1.0 ba · 1,024 sqft · SingleFamily · 3 Days on market

Built 1990 Fair condition

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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 +9.5/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Schools +3.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Key facts

• Near parks
• Functional layout
• Near boat dock

Tags

• FUNCTIONAL LAYOUT
• NEAR PARKS
• NEAR BOAT DOCK

Property features AI

Finance

• Financial info: Property is on leased land

Exterior

• Home design: Single-family residence; One story
• Construction: Masonite siding
• Exterior features: Has a view

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: 5 total rooms (bedroom count not specified)
• Flooring: Carpet; Linoleum
• Heating & cooling: Forced air heating; Central air; Ceiling fan(s)
• Interior features: Ceiling fans; Central air; Forced air heating; Washer and dryer included; Dishwasher; Range; Refrigerator
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $65k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $296 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($944 rent vs $65k).

Location & tenants

• Location reads 77/100 on livability (#14 in SD, #2,802 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: health & safety C-, schools D+, amenities F.
• Stanley County School District 57-1 (town): math 34% / reading 53% proficiency, ranked #42 of 59 in SD (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 38 active listings in the ZIP; 12 units permitted in Stanley County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $65,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.45% ✓
• Cap rate: 11.76%
• Cash-on-cash: 19.53%
• DSCR: 1.87
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $141,312
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
128 3rd Ave #6	0.00mi	2/1.0	1,024 (0%)	0mo	$65,000	$63	100
112 1/2 E 3rd Ave	0.10mi	2/1.0	960 (-6%)	5mo	$112,000	$117	81
114 6th Ave	0.26mi	2/1.0	980 (-4%)	14mo	$135,000	$138	69
905 N Marion St	0.54mi	2/2.0	1,100 (+7%)	21mo	$205,000	$186	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: 11.6%
• Equity multiple: 1.46×
• Total profit: $8,351
• Equity at exit: $9,692

10-year hold

• IRR: 20.6%
• Equity multiple: 2.74×
• Total profit: $31,628
• Equity at exit: $5,620

Cash invested: $18,200 (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 57532

• Home prices YoY: -33.2%
• Active inventory: 38
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $944 medium
• Mortgage (P&I): −$341
• Tax est. 1.5%: −$81 /mo · $975/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$198
• Net cashflow: $296

Break-even live

Break-even rent $569

Max offer price $65,000

Occupancy floor 64%

Sensitivity live

Price	-10% $341	-5% $319	+0% $296	+5% $274	+10% $251
Rent	-10% $222	-5% $259	+0% $296	+5% $334	+10% $371
Rate	-1.0pp $329	-0.5pp $313	base $296	+0.5pp $279	+1.0pp $262

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-21
   status Pending
2. 2026-05-18
   listed $65,000 Active

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

Taxation est. · year 1

• Rental income: $11,324
• − Mortgage interest: −$3,641
• − Property taxes: −$975
• − Insurance: −$325
• − Repairs & maintenance: −$906
• − Management: −$906
• − Depreciation: −$1,891
• Taxable income: $2,680
• Est. tax owed @ 24.0%: −$643
• After-tax cash flow: $2,912/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.

Condition & rehab AI · 13 photos

Fair 45/100 Moderate rehab

The home is in fair condition with some repairs and updates needed to increase its value. The roof, exterior siding, flooring, and landscaping are in poor condition and require major repairs. Painting and updating the interior walls, as well as landscaping and curb appeal improvements, would significantly increase the home's value and appeal to potential buyers.

Repairs flagged

• Major roof — The roof appears to be in poor condition, with visible wear and tear.
• Moderate exterior siding — The siding is in fair condition, with some discoloration and wear.
• Major flooring — The flooring in the living room and kitchen appears to be carpeted and in poor condition.
• Moderate interior walls/paint — The interior walls and paint appear to be in fair condition, with some discoloration.
• Major landscaping — The landscaping and curb appeal are poor, with overgrown grass and a lack of maintenance.

Value-add opportunities

• Resale New roof — A new roof would significantly increase the home's value and appeal to potential buyers.
• Resale Painting and updating interior walls — Updating the interior walls and paint would improve the home's appearance and appeal to potential buyers.
• Both Landscaping and curb appeal improvements — Improving the landscaping and curb appeal would increase the home's value and rental potential.
• Rental HVAC system upgrade — Upgrading the HVAC system would improve the home's comfort and energy efficiency, making it more attractive to renters.
• Resale Flooring replacement — Replacing the carpeted flooring with a more modern and durable option would significantly increase the home's value and appeal to potential buyers.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · The roof appears to be in poor condition, with visible wear and tear.	Major	$15,000–50,000
exterior siding · The siding is in fair condition, with some discoloration and wear.	Moderate	$3,000–15,000
flooring · The flooring in the living room and kitchen appears to be carpeted and in poor condition.	Major	$15,000–50,000
interior walls/paint · The interior walls and paint appear to be in fair condition, with some discoloration.	Moderate	$3,000–15,000
landscaping · The landscaping and curb appeal are poor, with overgrown grass and a lack of maintenance.	Major	$15,000–50,000
Total estimated repair cost · 5 items		$51,000–180,000

Value-add ROI direction

• Resale New roof — A new roof would significantly increase the home's value and appeal to potential buyers. ↑
• Resale Painting and updating interior walls — Updating the interior walls and paint would improve the home's appearance and appeal to potential buyers. ↑
• Both Landscaping and curb appeal improvements — Improving the landscaping and curb appeal would increase the home's value and rental potential. ↑
• Rental HVAC system upgrade — Upgrading the HVAC system would improve the home's comfort and energy efficiency, making it more attractive to renters. ↑
• Resale Flooring replacement — Replacing the carpeted flooring with a more modern and durable option would significantly increase the home's value and appeal to potential buyers. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Stanley County School District 57-1
• NCES district ID: 4624850
• Math proficiency: 34% ▼ -5.00%
• Reading proficiency: 53% ▼ -6.00%
• Median HH income: $57,231
• Composite: 38.01/100
• National rank: #4289
• State rank: #42 of 59 in SD

Livability — Fort Pierre

• Score: 77/100
• State rank: #14
• US rank: #2802

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fort Pierre, SD
• Population (ZIP): 2,911

Population outlook (Stanley County) Hauer SSP2

• Today (2025): 2,918 people
• By 2030: 2,892 · -0.9%
• By 2040: 2,903 · -0.5%
• By 2050: 2,992 · +2.5%
• By 2075: 3,366 · +15.4%
• By 2100: 4,109 · +40.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 6% Native American 3% Hispanic / Latino 2%
• Common ancestry: Portuguese 16% Dutch 2% Iranian 2%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 0%

Political lean MEDSL · Stanley

• 2024 margin: Solid R (+46.9) · D 25.8% · R 72.6% · Other 1.6%
• 2008→2024 swing: -14.2pp toward R · 2008: -32.6pp · 2024: -46.9pp
• All cycles: 2024: R+46.9 2020: R+47.3 2016: R+52.3 2012: R+40.8 2008: R+32.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -67.51%
• Current HPI: 135.8598
• 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

2 events — show timeline

• 2026-05-21 Pending — CSDBR
• 2026-05-18 Listed $65,000 CSDBR