5005 W Alpha Pl Pl · Sioux Falls, SD 57106

$70,000

3 bd · 2.0 ba · 1,056 sqft · Manufactured · 64 Days on market

Built 2022 Good condition $66/sqft · 51% above area $535/mo HOA · 39% of rent ↓ 20% since listing

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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 +22.7/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• Livability +4.2/5.0
• Condition / age +4.0/5.0
• Schools +3.7/10.0
• Rent growth +3.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 5005 W Alpha Pl, a 2022 Fairmont Inspiration home nestled in the peaceful Marion Community Mobile Home Park on the west side of Sioux Falls. This well-maintained 3-bedroom, 2-bath home offers modern comfort and a quiet, welcoming setting. Inside, you’ll find an open layout with a bright living area, a kitchen featuring a gas stove/oven, and a spacious primary suite complete with a private bath and walk-in closet. Step outside and enjoy a large yard shaded by mature trees—perfect for relaxing evenings or time with family and friends. The community is known for its friendly neighbors and tranquil atmosphere, giving you the best of both privacy and connection.

Key facts

• Gas stove oven
• Private bath
• Large yard

Tags

• GAS STOVE OVEN
• LARGE YARD
• MATURE TREES
• PRIVATE BATH
• WALK IN CLOSET
• OPEN LAYOUT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $70k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $120 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $66k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 2.6% in Sioux Falls — 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 85/100 on livability (#3 in SD, #610 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F.
• Sioux Falls School District 49-5 (urban): math 39% / reading 48% proficiency, ranked #45 of 59 in SD (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.2%/yr); 398 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,425 units permitted in Minnehaha County in 2024 (1,367 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $484 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Minnehaha County population projected at +46% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts 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: HOA is 39% of rent.

Recommended offer $65,800 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.98% ✓
• Cap rate: 8.35%
• Cash-on-cash: 7.36%
• DSCR: 1.33
• GRM: 4.2

CMA / ARV

• ARV (median comp): $46,368
• List price: $70,000
• Delta: 50.97%
• Verdict: OVERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4610 W 15th Pl Pl	0.23mi	2/1.0 (-1)	1,072 (+2%)	8mo	$45,000	$42	71
811 S Douglas Pl	0.19mi	3/1.0	938 (-11%)	18mo	$50,000	$53	53
1008 S Liberty Pl	0.67mi	3/2.0	1,152 (+9%)	16mo	$71,000	$62	40
5602 W bluebird Pl	0.74mi	3/1.0	924 (-12%)	12mo	$55,000	$60	30

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 · 2.18% rent growth · sell at horizon

5-year hold

• IRR: -6.3%
• Equity multiple: 0.77×
• Total profit: $-4,499
• Equity at exit: $10,437

10-year hold

• IRR: 2.0%
• Equity multiple: 1.14×
• Total profit: $2,676
• Equity at exit: $6,052

Cash invested: $19,600 (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 57106

• Rents YoY: 2.2%
• Active inventory: 398
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,383 high
• Mortgage (P&I): −$367
• Tax from tax record: −$41 /mo · $489/yr
• Insurance: −$29
• HOA: −$535
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $120

Break-even live

Break-even rent $1,230

Max offer price $70,000

Occupancy floor 86%

Sensitivity live

Price	-10% $160	-5% $140	+0% $120	+5% $100	+10% $81
Rent	-10% $11	-5% $66	+0% $120	+5% $175	+10% $229
Rate	-1.0pp $155	-0.5pp $138	base $120	+0.5pp $102	+1.0pp $84

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
912 Willow Creek Pl Unit 928-10 Sioux Falls, SD	2.0	2.0	1086	$1,294	$1.19	22d	1	0.14mi
912 S Willow Creek Pl Sioux Falls, SD	1.0–2.0	1.0–2.0	868	$1,482	$1.71	14d	4	0.14mi
920 Willow Creek Pl Unit 920-14 Sioux Falls, SD	2.0	2.0	1086	$1,250	$1.15	22d	1	0.21mi
500 S Ruth Ave Sioux Falls, SD	3.0	2.0	1100	$1,301	$1.18	14d	1	0.24mi
1125 S Ebenezer Ave Sioux Falls, SD	1.0–2.0	1.0–2.0	936	$1,370	$1.46	14d	10	0.33mi
1402 S Marion Rd Sioux Falls, SD	1.0–3.0	1.0–2.0	1034	$1,220	$1.18	14d	1	0.57mi
1123 S Bridgeport Pl Sioux Falls, SD	2.0	1.5	1224	$1,275	$1.04	45d	1	0.59mi
701 S Lyons Ave Sioux Falls, SD	3.0	2.0	1100	$1,005	$0.91	45d	1	0.61mi
925 S Newcomb Ave Unit 18 Sioux Falls, SD	2.0	1.0	900	$950	$1.06	22d	1	0.62mi
925 S Newcomb Ave Apt 12 Sioux Falls, SD	2.0	1.0	890	$950	$1.07	45d	1	0.62mi
5801 W Christopher Pl Sioux Falls, SD	2.0–3.0	1.0	989	$1,047	$1.06	22d	3	0.63mi
5811 W Christopher Pl Unit 15 Sioux Falls, SD	2.0	2.0	1100	$1,095	$1.00	45d	1	0.66mi
5811 W Christopher Pl Unit 02 Sioux Falls, SD	2.0	1.0	1010	$900	$0.89	45d	1	0.66mi
2301 S Lorraine Pl Sioux Falls, SD	2.0	1.0–2.0	834	$1,695	$2.03	14d	15	1.07mi
500 S Kiwanis Ave Sioux Falls, SD	1.0–2.0	1.0–2.0	859	$1,045	$1.22	14d	11	1.33mi
2024 S Oxford Ave Sioux Falls, SD	2.0	2.0	1292	$1,700	$1.32	45d	1	1.35mi

HOA detail

• Monthly dues: $535 · $6,420/yr
• Likely covers: gas

Listing history 12 events

1. 2026-05-19
   status Pending 688-char remark

   Show marketing remark (688 chars)

   Welcome to 5005 W Alpha Pl, a 2022 Fairmont Inspiration home nestled in the peaceful Marion Community Mobile Home Park on the west side of Sioux Falls. This well-maintained 3-bedroom, 2-bath home offers modern comfort and a quiet, welcoming setting. Inside, you’ll find an open layout with a bright living area, a kitchen featuring a gas stove/oven, and a spacious primary suite complete with a private bath and walk-in closet. Step outside and enjoy a large yard shaded by mature trees—perfect for relaxing evenings or time with family and friends. The community is known for its friendly neighbors and tranquil atmosphere, giving you the best of both privacy and connection.

2. 2026-03-16
   listed $70,000 Active 688-char remark

   Show marketing remark (688 chars)

   Welcome to 5005 W Alpha Pl, a 2022 Fairmont Inspiration home nestled in the peaceful Marion Community Mobile Home Park on the west side of Sioux Falls. This well-maintained 3-bedroom, 2-bath home offers modern comfort and a quiet, welcoming setting. Inside, you’ll find an open layout with a bright living area, a kitchen featuring a gas stove/oven, and a spacious primary suite complete with a private bath and walk-in closet. Step outside and enjoy a large yard shaded by mature trees—perfect for relaxing evenings or time with family and friends. The community is known for its friendly neighbors and tranquil atmosphere, giving you the best of both privacy and connection.

3. 2026-03-16
   historical

   Show marketing remark (688 chars)

   Welcome to 5005 W Alpha Pl, a 2022 Fairmont Inspiration home nestled in the peaceful Marion Community Mobile Home Park on the west side of Sioux Falls. This well-maintained 3-bedroom, 2-bath home offers modern comfort and a quiet, welcoming setting. Inside, you’ll find an open layout with a bright living area, a kitchen featuring a gas stove/oven, and a spacious primary suite complete with a private bath and walk-in closet. Step outside and enjoy a large yard shaded by mature trees—perfect for relaxing evenings or time with family and friends. The community is known for its friendly neighbors and tranquil atmosphere, giving you the best of both privacy and connection.

4. 2026-02-26
   listed $80,000 Active
5. 2026-02-26
   historical
6. 2025-10-27
   historical
7. 2025-08-26
   listed $80,000 Active
8. 2025-08-26
   listed $84,900 Active
9. 2025-08-20
   historical
10. 2025-06-11
    price $75,000
11. 2025-03-01
    price $79,000
12. 2025-01-23
    listed $87,000 Active - New

ⓘ 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: $489 · $41/mo
• Projected year-2 tax: $917 · $76/mo
• Expected delta: +$428/yr (+$36/mo · 87.4%)

ⓘ 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 ≥99°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: $16,591
• − Mortgage interest: −$3,921
• − Property taxes: −$489
• − Insurance: −$350
• − Repairs & maintenance: −$1,327
• − Management: −$1,327
• − HOA: −$6,420
• − Depreciation: −$2,036
• Taxable income: $719
• Est. tax owed @ 24.0%: −$173
• After-tax cash flow: $1,270/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 · 6 photos

Good 80/100 Cosmetic rehab

This well-maintained 3-bedroom, 2-bath mobile home is move-in ready with a good condition score and minimal repairs needed. It offers a spacious layout, modern kitchen, and a quiet, welcoming setting.

Value-add opportunities

• Both Paint interior walls — Fresh paint can enhance the home's curb appeal and interior aesthetics.
• Both Replace carpet with hardwood or tile — Hardwood or tile flooring can increase the home's value and make it more appealing to a wider range of buyers.
• Both Install smart home technology — Smart home features can increase the home's value and appeal to tech-savvy buyers.
• Both Add a small deck or patio — An outdoor living space can increase the home's value and appeal to buyers who enjoy outdoor entertaining.
• Both Upgrade lighting fixtures — Upgraded lighting can enhance the home's curb appeal and interior aesthetics.
• Both Add a small garden or planter box — A small garden or planter box can enhance the home's curb appeal and add a touch of greenery to the exterior.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint interior walls — Fresh paint can enhance the home's curb appeal and interior aesthetics. ↑
• Both Replace carpet with hardwood or tile — Hardwood or tile flooring can increase the home's value and make it more appealing to a wider range of buyers. ↑
• Both Install smart home technology — Smart home features can increase the home's value and appeal to tech-savvy buyers. ↑
• Both Add a small deck or patio — An outdoor living space can increase the home's value and appeal to buyers who enjoy outdoor entertaining. ↑
• Both Upgrade lighting fixtures — Upgraded lighting can enhance the home's curb appeal and interior aesthetics. ↑
• Both Add a small garden or planter box — A small garden or planter box can enhance the home's curb appeal and add a touch of greenery to the exterior. ↑

ⓘ 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: Sioux Falls School District 49-5
• NCES district ID: 4666270
• Math proficiency: 39% ▼ -4.00%
• Reading proficiency: 48% ▼ -2.00%
• Median HH income: $51,093
• Composite: 37.47/100
• National rank: #4407
• State rank: #45 of 59 in SD

Livability — Sioux Falls

• Score: 85/100
• State rank: #3
• US rank: #610

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sioux Falls, SD
• County: Minnehaha County · 191,523 people
• City population: 207,623
• Metro: Sioux Falls, SD
• Population (ZIP): 51,907
• Household income: $77,580
• Rent vs Own: 41.2% rent · 58.8% own
• Severe rent burden: 1500.0

Population outlook (Minnehaha County) Hauer SSP2

• Today (2025): 222,323 people
• By 2030: 241,430 · +8.6%
• By 2040: 281,643 · +26.7%
• By 2050: 325,574 · +46.4%
• By 2075: 469,313 · +111.1%
• By 2100: 664,763 · +199.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 7% Two or more races 7% Black 5% Asian 1% Native American 1%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Portuguese 12% Iranian 7% Lithuanian 2%
• Foreign-born: 7% · Canada
• Languages at home: 91% English-only · Spanish 5% Russian/Polish/Slavic 1% Other Indo-European 1%

Political lean MEDSL · Minnehaha

• 2024 margin: R (+12.7) · D 42.5% · R 55.2% · Other 2.4%
• 2008→2024 swing: -13.4pp toward R · 2008: 0.7pp · 2024: -12.7pp
• All cycles: 2024: R+12.7 2020: R+9.5 2016: R+14.6 2012: R+7.4 2008: D+0.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -138.17%
• Current HPI: 214.9065
• Rent YoY: ▲ 2.18%
• Metro: Sioux Falls, 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

-19.5% since first listed

12 events — show timeline

• 2026-05-19 Pending — REALTOR® Association of the Sioux Empire
• 2026-03-16 Listing Removed — REALTOR® Association of the Sioux Empire
• 2026-03-16 Listed $70,000 REALTOR® Association of the Sioux Empire
• 2026-02-26 Listing Removed — REALTOR® Association of the Sioux Empire
• 2026-02-26 Listed $80,000 REALTOR® Association of the Sioux Empire
• 2025-10-27 Listing Removed — REALTOR® Association of the Sioux Empire
• 2025-08-26 Listed $84,900 REALTOR® Association of the Sioux Empire
• 2025-08-26 Listed $80,000 REALTOR® Association of the Sioux Empire
• 2025-08-20 Listing Removed — REALTOR® Association of the Sioux Empire
• 2025-06-11 Price Changed $75,000 REALTOR® Association of the Sioux Empire
• 2025-03-01 Price Changed $79,000 REALTOR® Association of the Sioux Empire
• 2025-01-23 Listed $87,000 REALTOR® Association of the Sioux Empire

Property tax history

-5.1%/yr

Latest (2024): $489 · -5.1% YoY. Source: county tax records.