202 8th Ave S Ave S · Clear Lake, SD 57226

$124,900

2 bd · 1.0 ba · 742 sqft · SingleFamily · 22 Days on market

Built 1946 7,000 sqft lot $168/sqft · 33% above area Est $94k · 33% 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 +18.1/30.0
• Appreciation +10.0/10.0
• DSCR +5.7/10.0
• 1% rule +3.9/10.0
• Schools +3.7/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks MLS

2 BEDROOM, 1 BATH HOME WITH NICE UPDATES. NEWER KITCHEN CABINETS, FLOOR, BATHROOM, CARPET, PAINT. ALLEY ACCESS, SINGLE SHARED GARAGE OFF THE ALLEY. MATURE TREES ON A CORNER LOT.

Key facts

• New siding
• Open kitchen
• New roof

Tags

• OPEN KITCHEN
• NEW ROOF
• NEW SIDING
• NEW WINDOWS
• NEW FRONT DECK
• BACKYARD FOR ENTERTAINING

Property features AI

Finance

• Other:
• Financial info:
• HOA & community:

Exterior

• Parking:
• Security:
• Utilities: Public water; Public sewer
• Home design: Single family residence; Ranch style
• Construction: Block and poured foundation; Composition roof; Other construction materials
• Exterior features: Deck; Corner lot; City lot

Interior

• Kitchen: Electric range; Microwave; Dishwasher; Refrigerator
• Bedrooms: Main level master bedroom (10 x 12); One lower-level bedroom; One basement bedroom; Second bedroom (12 x 10)
• Flooring: Concrete flooring
• Bathrooms: One 3/4 bathroom
• Heating & cooling: Natural gas heating; Electric water heater
• Interior features: Partial basement; Open dining area to kitchen and living room; Foyer
• Laundry & utility: Washer and dryer; Utility room in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $110 ($1k/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 $111k (10.7% below list).
• Recommended offer: $111k (10.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 71/100 on livability (#53 in SD) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Deuel School District 19-4 (rural): math 39% / reading 47% proficiency, ranked #46 of 59 in SD (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Clear Lake Elementary - 02 (math 47% / reading 52%, grade D, #115 of 253 statewide, top 52%, 259 students, 17% FRL); Clear Lake Middle School - 04 (math 32% / reading 42%, grade F, #110 of 143 statewide, top 80%, 125 students, 14% FRL).
• Market conditions: 9 active listings in the ZIP; 18 units permitted in Deuel County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($864 loan paydown + $12k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y 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.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $111,489 (10.7% below list)

Questions for the listing agent

1. Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 0.89% ✗
• Cap rate: 7.35%
• Cash-on-cash: 3.77%
• DSCR: 1.17
• GRM: 9.3

CMA / ARV

• ARV (median comp): $94,006
• List price: $124,900
• Delta: 32.86%
• Verdict: OVERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
202 8th Ave S Ave S	0.00mi	2/1.0	742 (0%)	0mo	$110,000	$148	100
604 7th Ave S	0.31mi	1/1.0 (-1)	800 (+8%)	9mo	$115,000	$144	60

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 27.0%
• Equity multiple: 3.14×
• Total profit: $74,983
• Equity at exit: $112,520

10-year hold

• IRR: 23.6%
• Equity multiple: 7.15×
• Total profit: $215,230
• Equity at exit: $242,653

Cash invested: $34,972 (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 57226

• Home prices YoY: 17.6%
• Active inventory: 9
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,115 medium
• Mortgage (P&I): −$655
• Tax from tax record: −$64 /mo · $766/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$234
• Net cashflow: $110

Break-even live

Break-even rent $976

Max offer price $124,900

Occupancy floor 85%

Sensitivity live

Price	-10% $181	-5% $145	+0% $110	+5% $75	+10% $39
Rent	-10% $22	-5% $66	+0% $110	+5% $154	+10% $198
Rate	-1.0pp $173	-0.5pp $142	base $110	+0.5pp $78	+1.0pp $45

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-05-16
   status Pending 796-char remark
2. 2026-04-24
   listed $124,900 Active 796-char remark
3. 2018-04-02
   soldstatus $37,100 177-char remark

   Show marketing remark (177 chars)

   2 BEDROOM, 1 BATH HOME WITH NICE UPDATES. NEWER KITCHEN CABINETS, FLOOR, BATHROOM, CARPET, PAINT. ALLEY ACCESS, SINGLE SHARED GARAGE OFF THE ALLEY. MATURE TREES ON A CORNER LOT.

4. 2018-01-30
   listed $39,900 177-char remark

   Show marketing remark (177 chars)

   2 BEDROOM, 1 BATH HOME WITH NICE UPDATES. NEWER KITCHEN CABINETS, FLOOR, BATHROOM, CARPET, PAINT. ALLEY ACCESS, SINGLE SHARED GARAGE OFF THE ALLEY. MATURE TREES ON A CORNER LOT.

5. 2013-03-19
   soldstatus $18,500
6. 2008-07-31
   soldstatus $18,000

ⓘ 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: $766 · $64/mo
• Projected year-2 tax: $1,636 · $136/mo
• Expected delta: +$870/yr (+$73/mo · 113.6%)

ⓘ 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 5/10 Major
• 🌡 Heat 1/10 Low 7 d/yr ≥96°F today · 13 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: $13,379
• − Mortgage interest: −$6,996
• − Property taxes: −$766
• − Insurance: −$624
• − Repairs & maintenance: −$1,070
• − Management: −$1,070
• − Depreciation: −$3,633
• Taxable loss: −$782
• Est. tax savings @ 24.0%: +$188
• After-tax cash flow: $1,506/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: Deuel School District 19-4
• NCES district ID: 4600036
• Math proficiency: 39% ▲ 6.00%
• Reading proficiency: 47% ▲ 3.00%
• Median HH income: $51,180
• Composite: 37.06/100
• National rank: #4508
• State rank: #46 of 59 in SD

Livability — Clear Lake

• Score: 71/100
• State rank: #53
• US rank: #6735

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Clear Lake, SD
• Population (ZIP): 1,834

Population outlook (Deuel County) Hauer SSP2

• Today (2025): 4,254 people
• By 2030: 4,191 · -1.5%
• By 2040: 4,115 · -3.3%
• By 2050: 4,184 · -1.6%
• By 2075: 5,357 · +25.9%
• By 2100: 8,125 · +91.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Hispanic / Latino 3%
• Common ancestry: Portuguese 23% Iranian 4% Romanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · German/W. Germanic 1%

Political lean MEDSL · Deuel

• 2024 margin: Solid R (+51.7) · D 23.0% · R 74.7% · Other 2.3%
• 2008→2024 swing: -50.2pp toward R · 2008: -1.5pp · 2024: -51.7pp
• All cycles: 2024: R+51.7 2020: R+46.4 2016: R+38.3 2012: R+10.8 2008: R+1.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 58.33%
• Current HPI: 390.49
• 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

+511.1% since first listed

7 events — show timeline

• 2026-06-12 Sold (MLS) $110,000 REALTOR® Association of the Sioux Empire
• 2026-05-16 Pending — REALTOR® Association of the Sioux Empire
• 2026-04-24 Listed $124,900 REALTOR® Association of the Sioux Empire
• 2018-04-02 Sold (MLS) $37,100 NESD
• 2018-01-30 Listed $39,900 NESD
• 2013-03-19 Sold (Public Records) $18,500 Public Records
• 2008-07-31 Sold (Public Records) $18,000 Public Records

Property tax history

+5.5%/yr

Latest (2025): $766 · +8.1% YoY. Source: county tax records.