122 E 10th St St · Gregory, SD 57533

$150,000

5 bd · 2.0 ba · 1,400 sqft · SingleFamily · 230 Days on market

Built 1915 8,400 sqft lot $107/sqft · 43% above area Est $105k · 43% 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 +15.1/30.0
• Appreciation +5.0/10.0
• DSCR +4.6/10.0
• Schools +4.3/10.0
• 1% rule +4.2/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks MLS

Welcome to your new home in the heart of Gregory, SD! This delightful 5-bedroom, 2-bathroom house boasts a newer roof, ensuring years of durability and protection. With spacious living areas and a large kitchen, it’s perfect for a growing family or as a rental property for hunting enthusiasts. The two full bathrooms add convenience, and the generously sized bedrooms provide ample space for everyone. Situated in a friendly neighborhood, this home features a sizable yard for outdoor activities and plenty of parking space. Its prime location near popular hunting spots makes it an ideal base for hunters looking for a comfortable stay.

Key facts

• Sizable yard
• Newer roof
• Large kitchen

Tags

• NEWER ROOF
• LARGE KITCHEN
• SIZABLE YARD
• PRIME LOCATION

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $49 ($592/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 $137k (8.4% below list).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#80 in SD) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Gregory School District 26-4 (rural): math 41% / reading 58% proficiency, ranked #82 of 148 in SD (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 7 active listings in the ZIP; 23 units permitted in Gregory County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($1k loan paydown + $4k appreciation (3.0% local appreciation)).
• Gregory County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 230 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $93k; list at $150k implies a 61% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $132,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 230 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1915 — 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: 0.92% ✗
• Cap rate: 6.69%
• Cash-on-cash: 1.41%
• DSCR: 1.06
• GRM: 9.1

CMA / ARV

• ARV (median comp): $105,046
• List price: $150,000
• Delta: 42.79%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 8.8%
• Equity multiple: 1.51×
• Total profit: $21,234
• Equity at exit: $67,446

10-year hold

• IRR: 11.3%
• Equity multiple: 2.70×
• Total profit: $71,236
• Equity at exit: $103,943

Cash invested: $42,000 (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 57533

• Active inventory: 7
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,375 medium
• Mortgage (P&I): −$787
• Tax est. 1.5%: −$188 /mo · $2,250/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $49

Break-even live

Break-even rent $1,312

Max offer price $150,000

Occupancy floor 91%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $150,000 Active 230 DOM
2. 2026-06-17
   days on market $150,000 Active 229 DOM
3. 2026-06-16
   days on market $150,000 Active 228 DOM
4. 2026-06-15
   days on market $150,000 Active 227 DOM
5. 2026-06-13
   days on market $150,000 Active 225 DOM
6. 2026-06-12
   days on market $150,000 Active 224 DOM
7. 2026-06-09
   days on market $150,000 Active 221 DOM
8. 2026-06-08
   days on market $150,000 Active 220 DOM
9. 2026-06-08
   days on market $150,000 Active 219 DOM
10. 2026-06-05
    days on market $150,000 Active 217 DOM
11. 2026-06-04
    days on market $150,000 Active 215 DOM
12. 2026-06-02
    days on market $150,000 Active 214 DOM
13. 2026-06-01
    days on market $150,000 Active 213 DOM
14. 2026-05-31
    days on market $150,000 Active 212 DOM
15. 2026-03-05
    price $150,000 644-char remark

    Show marketing remark (644 chars)

    Welcome to your new home in the heart of Gregory, SD! This delightful 5-bedroom, 2-bathroom house boasts a newer roof, ensuring years of durability and protection. With spacious living areas and a large kitchen, it’s perfect for a growing family or as a rental property for hunting enthusiasts. The two full bathrooms add convenience, and the generously sized bedrooms provide ample space for everyone. Situated in a friendly neighborhood, this home features a sizable yard for outdoor activities and plenty of parking space. Its prime location near popular hunting spots makes it an ideal base for hunters looking for a comfortable stay.

16. 2025-10-31
    listed $160,000 Active 644-char remark

    Show marketing remark (644 chars)

    Welcome to your new home in the heart of Gregory, SD! This delightful 5-bedroom, 2-bathroom house boasts a newer roof, ensuring years of durability and protection. With spacious living areas and a large kitchen, it’s perfect for a growing family or as a rental property for hunting enthusiasts. The two full bathrooms add convenience, and the generously sized bedrooms provide ample space for everyone. Situated in a friendly neighborhood, this home features a sizable yard for outdoor activities and plenty of parking space. Its prime location near popular hunting spots makes it an ideal base for hunters looking for a comfortable stay.

17. 2025-05-30
    historical
18. 2024-05-29
    listed $160,000 Active - New
19. 2022-09-30
    soldstatus $92,900
20. 2022-06-27
    listed $92,900

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 3/10 Moderate 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: $16,496
• − Mortgage interest: −$8,402
• − Property taxes: −$2,250
• − Insurance: −$750
• − Repairs & maintenance: −$1,320
• − Management: −$1,320
• − Depreciation: −$4,364
• Taxable loss: −$1,910
• Est. tax savings @ 24.0%: +$458
• After-tax cash flow: $1,050/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: Gregory School District 26-4
• NCES district ID: 4629880
• Math proficiency: 41% ▼ -4.00%
• Reading proficiency: 58% ▼ -2.00%
• Median HH income: $37,070
• Composite: 43.14/100
• National rank: #6610
• State rank: #82 of 148 in SD

Livability — Gregory

• Score: 68/100
• State rank: #80
• US rank: #9107

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gregory, SD
• Population (ZIP): 1,633

Population outlook (Gregory County) Hauer SSP2

• Today (2025): 4,052 people
• By 2030: 3,980 · -1.8%
• By 2040: 3,871 · -4.5%
• By 2050: 3,851 · -5.0%
• By 2075: 4,346 · +7.3%
• By 2100: 4,836 · +19.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 6% Hispanic / Latino 3% Black 2% Native American 2%
• Common ancestry: Portuguese 2% Lithuanian 2% Italian 1%
• Foreign-born: 1% · Canada

Political lean MEDSL · Gregory

• 2024 margin: Solid R (+60.2) · D 18.8% · R 79.0% · Other 2.2%
• 2008→2024 swing: -31.2pp toward R · 2008: -29.0pp · 2024: -60.2pp
• All cycles: 2024: R+60.2 2020: R+58.3 2016: R+57.8 2012: R+42.2 2008: R+29.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+61.5% since first listed

6 events — show timeline

• 2026-03-05 Price Changed $150,000 REALTOR® Association of the Sioux Empire
• 2025-10-31 Listed $160,000 REALTOR® Association of the Sioux Empire
• 2025-05-30 Listing Removed — REALTOR® Association of the Sioux Empire
• 2024-05-29 Listed $160,000 REALTOR® Association of the Sioux Empire
• 2022-09-30 Sold (MLS) $92,900 REALTOR® Association of the Sioux Empire
• 2022-06-27 Listed $92,900 REALTOR® Association of the Sioux Empire