306 Main St · Volin, SD 57072

$134,000

8 bd · 4.0 ba · 2,716 sqft · MultiFamily · 189 Days on market

Built 1950 Poor condition 10,800 sqft lot $49/sqft · 6% above area Est $126k · 6% over

---

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 +25.2/30.0
• Appreciation +8.9/10.0
• DSCR +8.2/10.0
• 1% rule +6.6/10.0
• ARV discount +4.6/15.0
• Schools +3.2/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Up for Sale is a great investment opportunity in Volin, SD. This multi-family house features a lower-level apartment with 2 bedrooms/1 bath and a spacious 2 story, 4 bedroom/ 1 bath unit, and a 2 bedroom/1 bath main level unit. All units have private entrances and nearly 100% occupancy over the past few years. Ample parking and yard space! There is an extra lot with this parcel to build a large garage if the owner chooses. This property is located in a quaint community just 16 miles from Yankton, SD and 20 miles from Vermillion, SD. Excellent Cash Flow!!

Key facts

• Steady rental income
• 0.25 acre lot
• Built 1950

Tags

• TURNKEY APARTMENT BUILDING
• STEADY RENTAL INCOME
• LOW MAINTENANCE PROPERTY

What this means for you Summary

Snapshot

• This is a 8-bed/4.0-bath multifamily listed at $134k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $298 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $134k).
• Recommended offer: $118k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#213 in SD) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, schools F, amenities F.
• Gayville-Volin School District 63-1 (rural): math 25% / reading 40% proficiency, ranked #125 of 148 in SD (top 84%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 3 active listings in the ZIP; 179 units permitted in Yankton County in 2024 (130 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($926 loan paydown + $11k appreciation (7.9% local appreciation)).
• Yankton County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (7.9% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 189 days — a 12% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $15k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $117,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 189 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. Crime grade is D 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.16% ✓
• Cap rate: 8.97%
• Cash-on-cash: 9.54%
• DSCR: 1.42
• GRM: 7.2

CMA / ARV

• ARV (median comp): $125,877
• List price: $134,000
• Delta: 6.45%
• Verdict: FAIR
• Comps: 2 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
306 Main St	0.00mi	8/4.0	2,716 (0%)	1mo	$125,000	$46	99

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

Projected returns pro-forma

7.9% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 27.2%
• Equity multiple: 2.95×
• Total profit: $73,347
• Equity at exit: $100,863

10-year hold

• IRR: 24.5%
• Equity multiple: 6.30×
• Total profit: $198,706
• Equity at exit: $199,322

Cash invested: $37,520 (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 57072

• Home prices YoY: 4.7%
• Active inventory: 3
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,550 medium
• Mortgage (P&I): −$703
• Tax est. 1.5%: −$168 /mo · $2,010/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$325
• Net cashflow: $298

Break-even live

Break-even rent $1,172

Max offer price $134,000

Occupancy floor 76%

Sensitivity live

Price	-10% $391	-5% $345	+0% $298	+5% $252	+10% $206
Rent	-10% $176	-5% $237	+0% $298	+5% $360	+10% $421
Rate	-1.0pp $366	-0.5pp $333	base $298	+0.5pp $264	+1.0pp $228

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: $33,500
• Closing costs: $4,020
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-05-16
   status Pending 561-char remark

   Show marketing remark (561 chars)

   Up for Sale is a great investment opportunity in Volin, SD. This multi-family house features a lower-level apartment with 2 bedrooms/1 bath and a spacious 2 story, 4 bedroom/ 1 bath unit, and a 2 bedroom/1 bath main level unit. All units have private entrances and nearly 100% occupancy over the past few years. Ample parking and yard space! There is an extra lot with this parcel to build a large garage if the owner chooses. This property is located in a quaint community just 16 miles from Yankton, SD and 20 miles from Vermillion, SD. Excellent Cash Flow!!

2. 2026-04-16
   price $134,000 561-char remark

   Show marketing remark (561 chars)

   Up for Sale is a great investment opportunity in Volin, SD. This multi-family house features a lower-level apartment with 2 bedrooms/1 bath and a spacious 2 story, 4 bedroom/ 1 bath unit, and a 2 bedroom/1 bath main level unit. All units have private entrances and nearly 100% occupancy over the past few years. Ample parking and yard space! There is an extra lot with this parcel to build a large garage if the owner chooses. This property is located in a quaint community just 16 miles from Yankton, SD and 20 miles from Vermillion, SD. Excellent Cash Flow!!

3. 2026-03-02
   price $144,000 561-char remark

   Show marketing remark (561 chars)

   Up for Sale is a great investment opportunity in Volin, SD. This multi-family house features a lower-level apartment with 2 bedrooms/1 bath and a spacious 2 story, 4 bedroom/ 1 bath unit, and a 2 bedroom/1 bath main level unit. All units have private entrances and nearly 100% occupancy over the past few years. Ample parking and yard space! There is an extra lot with this parcel to build a large garage if the owner chooses. This property is located in a quaint community just 16 miles from Yankton, SD and 20 miles from Vermillion, SD. Excellent Cash Flow!!

4. 2025-11-07
   listed $149,000 Active 561-char remark

   Show marketing remark (561 chars)

   Up for Sale is a great investment opportunity in Volin, SD. This multi-family house features a lower-level apartment with 2 bedrooms/1 bath and a spacious 2 story, 4 bedroom/ 1 bath unit, and a 2 bedroom/1 bath main level unit. All units have private entrances and nearly 100% occupancy over the past few years. Ample parking and yard space! There is an extra lot with this parcel to build a large garage if the owner chooses. This property is located in a quaint community just 16 miles from Yankton, SD and 20 miles from Vermillion, SD. Excellent Cash Flow!!

5. 2022-06-29
   soldstatus $120,000 514-char remark

   Show marketing remark (514 chars)

   Up for sale is a great investment opportunity in Volin SD. This multi-family home features a lower level apartment with 2 bedroom/1 bath and a a spacious 2 story 4 bedroom/1 bath unit, and a 2 bedroom/1 bath main level unit. All units have private entrances and have a 100% occupancy rate over the past few years. The owner is also selling 302 Main St. Volin and will only sell this property along with 302 Main St. as well. There is also an extra lot with this parcel to build a large garage if the owner chooses.

6. 2022-04-26
   listed $120,000 514-char remark

   Show marketing remark (514 chars)

   Up for sale is a great investment opportunity in Volin SD. This multi-family home features a lower level apartment with 2 bedroom/1 bath and a a spacious 2 story 4 bedroom/1 bath unit, and a 2 bedroom/1 bath main level unit. All units have private entrances and have a 100% occupancy rate over the past few years. The owner is also selling 302 Main St. Volin and will only sell this property along with 302 Main St. as well. There is also an extra lot with this parcel to build a large garage if the owner chooses.

ⓘ 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 FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 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: $18,600
• − Mortgage interest: −$7,506
• − Property taxes: −$2,010
• − Insurance: −$670
• − Repairs & maintenance: −$1,488
• − Management: −$1,488
• − Depreciation: −$3,898
• Taxable income: $1,539
• Est. tax owed @ 24.0%: −$369
• After-tax cash flow: $3,212/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 · 1 photo

Poor 20/100 Extensive rehab

This multi-family property requires extensive repairs and updates to bring it up to a livable condition. Significant investments in the exterior, roof, HVAC, and interior are necessary to increase its resale and rental value.

Repairs flagged

• Major siding — Significant wear and tear
• Major roof — No visible damage, but age is implied
• Major flooring — No visible flooring, but age is implied
• Major HVAC/mechanicals — No visible systems, but age is implied
• Major landscaping — Overgrown lawn, unkempt appearance

Value-add opportunities

• Both exterior painting — Enhances curb appeal and value
• Both landscaping — Improves curb appeal and value
• Both roof replacement — Critical for structural integrity and value
• Both HVAC upgrade — Improves comfort and energy efficiency
• Both flooring replacement — Enhances interior aesthetics and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
siding · Significant wear and tear	Major	$15,000–50,000
roof · No visible damage, but age is implied	Major	$15,000–50,000
flooring · No visible flooring, but age is implied	Major	$15,000–50,000
HVAC/mechanicals · No visible systems, but age is implied	Major	$15,000–50,000
landscaping · Overgrown lawn, unkempt appearance	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both exterior painting — Enhances curb appeal and value ↑
• Both landscaping — Improves curb appeal and value ↑
• Both roof replacement — Critical for structural integrity and value ↑
• Both HVAC upgrade — Improves comfort and energy efficiency ↑
• Both flooring replacement — Enhances interior aesthetics and value ↑

ⓘ 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: Gayville-Volin School District 63-1
• NCES district ID: 4626490
• Math proficiency: 25% ▲ 5.00%
• Reading proficiency: 40% ▲ 10.00%
• Median HH income: $56,744
• Composite: 31.62/100
• National rank: #11134
• State rank: #125 of 148 in SD

Livability — Volin

• Score: 62/100
• State rank: #213
• US rank: #16469

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Volin, SD
• Population (ZIP): 547

Population outlook (Yankton County) Hauer SSP2

• Today (2025): 23,495 people
• By 2030: 23,705 · +0.9%
• By 2040: 24,037 · +2.3%
• By 2050: 24,561 · +4.5%
• By 2075: 28,069 · +19.5%
• By 2100: 33,542 · +42.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Portuguese 29% Iranian 11% Lithuanian 1%

Political lean MEDSL · Yankton

• 2024 margin: Strong R (+25.5) · D 35.9% · R 61.4% · Other 2.8%
• 2008→2024 swing: -23.6pp toward R · 2008: -2.0pp · 2024: -25.5pp
• All cycles: 2024: R+25.5 2020: R+23.5 2016: R+24.5 2012: R+12.7 2008: R+2.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.90%
• Current HPI: 176.2972
• 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

+11.7% since first listed

6 events — show timeline

• 2026-05-16 Pending — MARMLS
• 2026-04-16 Price Changed $134,000 MARMLS
• 2026-03-02 Price Changed $144,000 MARMLS
• 2025-11-07 Listed $149,000 MARMLS
• 2022-06-29 Sold (MLS) $120,000 MARMLS
• 2022-04-26 Listed $120,000 MARMLS