925 S Dakota Ave Ave · Sioux Falls, SD 57104

$184,500

3 bd · 3.0 ba · 1,753 sqft · Other public records · 169 Days on market

Built 1906 3,621 sqft lot

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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 +13.6/30.0
• ARV discount +7.5/15.0
• 1% rule +4.2/10.0
• Rent growth +4.2/5.0
• Livability +4.2/5.0
• DSCR +4.1/10.0
• Schools +3.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Check out this value with excellent access to downtown Sioux Falls! This 3 bedroom, 1.5 bath home has some sharp finishes throughout. Featuring updates over the years to the flooring, interior paint, kitchen, baths and updated electrical, this home has quality appeal throughout. With over 1750 finished square feet this home has plenty of room for all your family needs.

Key facts

• Large deck
• Attached garage
• Front porch

Tags

• BUILT-IN STORAGE
• SPACIOUS LIVING AREAS
• FRONT PORCH
• LARGE DECK
• ATTACHED GARAGE
• MINUTES FROM DOWNTOWN

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath other listed at $184k.

Deal economics

• At list price, monthly cash flow is $10 ($123/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 $170k (7.9% below list).
• Recommended offer: $162k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.4% 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.
• Zoned schools: Susan B. Anthony Elementary - 66 (math 40% / reading 40%, grade F, #165 of 253 statewide, top 65%, 555 students, 43% FRL); Patrick Henry Middle School - 07 (math 42% / reading 53%, grade C-, #69 of 143 statewide, top 48%, 940 students, 24% FRL); Lincoln High School - 02 (math 48% / reading 71%, grade C+, #31 of 151 statewide, top 32%, 1,883 students, 22% FRL).
• Market conditions: Rents rising fast (+7.0%/yr); 155 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); 2,425 units permitted in Minnehaha County in 2024 (1,367 in 5+ unit buildings).
• This rent runs 35% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 169 days — a 12% lower offer ($162k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 21y ago; this cycle's ask has dropped $56k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $100k; list at $184k implies a 85% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1906 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $162,360 (12.0% below list)

Questions for the listing agent

1. It's been on market 169 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 1906 — 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. 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. 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?
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 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: 6.36%
• Cash-on-cash: 0.24%
• DSCR: 1.01
• GRM: 9.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.99% rent growth · sell at horizon

5-year hold

• IRR: -11.3%
• Equity multiple: 0.57×
• Total profit: $-22,083
• Equity at exit: $27,510

10-year hold

• IRR: 3.1%
• Equity multiple: 1.26×
• Total profit: $13,488
• Equity at exit: $15,952

Cash invested: $51,660 (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 57104

• Home prices YoY: -27.1%
• Rents YoY: 7.0%
• Active inventory: 155
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,700 high
• Mortgage (P&I): −$968
• Tax from tax record: −$288 /mo · $3,459/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$357
• Net cashflow: $10

Break-even live

Break-even rent $1,687

Max offer price $184,500

Occupancy floor 94%

Sensitivity live

Price	-10% $115	-5% $63	+0% $10	+5% $-42	+10% $-94
Rent	-10% $-124	-5% $-57	+0% $10	+5% $77	+10% $145
Rate	-1.0pp $103	-0.5pp $57	base $10	+0.5pp $-38	+1.0pp $-86

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: $46,125
• Closing costs: $5,535
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
807 W 13th St Sioux Falls, SD	4.0	2.0	1708	$1,799	$1.05	23d	1	0.53mi
1318 S 4th Ave Sioux Falls, SD	2.0	1.0	1550	$1,850	$1.19	45d	1	0.56mi
1811 S Spring Ave Sioux Falls, SD	3.0	1.0	1600	$1,595	$1.00	45d	1	0.58mi
101 S Main Ave Sioux Falls, SD	1.0–2.0	1.0–2.0	1143	$2,450	$2.14	45d	2	0.68mi
1907 S Prairie Ave Sioux Falls, SD	4.0	1.5	1823	$1,875	$1.03	23d	1	0.71mi
1906 S Menlo Ave Sioux Falls, SD	4.0	2.0	1300	$1,640	$1.26	45d	1	0.79mi
811 S Glendale Ave Sioux Falls, SD	3.0	2.0	1368	$1,650	$1.21	45d	1	0.90mi
440 E 8th St Sioux Falls, SD	3.0	3.0	1900	$4,800	$2.53	23d	1	0.92mi
310 N Reid Pl Sioux Falls, SD	3.0	1.0–3.0	1251	$5,000	$4.00	15d	7	0.98mi
350 N Reid Pl Sioux Falls, SD	2.0	1.0–2.0	898	$3,000	$3.34	15d	9	1.00mi
1901 W 26th St Sioux Falls, SD	3.0	1.5	1637	$1,550	$0.95	15d	1	1.10mi
155 E 4th Pl Sioux Falls, SD	2.0	1.0–2.0	950	$3,240	$3.41	15d	12	1.17mi
104 W 37th St Unit 104 Sioux Falls, SD	3.0	2.0	1415	$1,586	$1.12	23d	1	1.27mi
104 W 37th St Unit 104 Sioux Falls, SD	3.0	2.0	1415	$1,586	$1.12	45d	1	1.27mi
701 N Phillips Ave Sioux Falls, SD	2.0	1.0–2.5	894	$2,589	$2.90	15d	17	1.33mi
633 N Menlo Ave Sioux Falls, SD	4.0	1.5	1450	$1,750	$1.21	23d	1	1.33mi

Listing history 13 events

1. 2026-02-16
   status Pending
2. 2026-02-03
   price $184,500
3. 2025-11-25
   price $189,500
4. 2025-10-24
   price $199,500
5. 2025-10-03
   price $209,000
6. 2025-09-18
   price $219,000
7. 2025-08-31
   listed $240,000 Active
8. 2018-03-05
   soldstatus $99,900
9. 2017-11-14
   listed $99,900 371-char remark

   Show marketing remark (371 chars)

   Check out this value with excellent access to downtown Sioux Falls! This 3 bedroom, 1.5 bath home has some sharp finishes throughout. Featuring updates over the years to the flooring, interior paint, kitchen, baths and updated electrical, this home has quality appeal throughout. With over 1750 finished square feet this home has plenty of room for all your family needs.

10. 2009-08-24
    soldstatus $38,000
11. 2009-05-20
    listed $40,000 252-char remark

    Show marketing remark (252 chars)

    Large home with 3 bedrooms, 1.5 bathrooms * Transom windows, open stairway * French & pocket doors * Sold AS IS, No disclosures * Home needs a lot of TLC * Wells Fargo employees, affiliates and direct family members are prohibited from purchasing

12. 2005-07-15
    soldstatus $77,500
13. 2005-04-20
    listed $77,900

ⓘ 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: $3,459 · $288/mo
• Projected year-2 tax: $3,459 · $288/mo
• Expected delta: $0/yr ($0/mo · -0.0%)

ⓘ 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: $20,399
• − Mortgage interest: −$10,335
• − Property taxes: −$3,459
• − Insurance: −$922
• − Repairs & maintenance: −$1,632
• − Management: −$1,632
• − Depreciation: −$5,367
• Taxable loss: −$2,948
• Est. tax savings @ 24.0%: +$708
• After-tax cash flow: $831/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: 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): 26,963
• Household income: $57,688
• Rent vs Own: 54.8% rent · 45.2% own
• Severe rent burden: 1111.0

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 (67%)
• Race & ethnicity: White 67% Black 11% Two or more races 10% Hispanic / Latino 9% Native American 6% Asian 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 9% Iranian 3% Italian 1%
• Foreign-born: 13% · Canada
• Languages at home: 83% English-only · Spanish 6% Russian/Polish/Slavic 1% Arabic 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: ▼ -97.10%
• Current HPI: 261.8359
• Rent YoY: ▲ 6.99%
• 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

+136.8% since first listed

13 events — show timeline

• 2026-02-16 Pending — REALTOR® Association of the Sioux Empire
• 2026-02-03 Price Changed $184,500 REALTOR® Association of the Sioux Empire
• 2025-11-25 Price Changed $189,500 REALTOR® Association of the Sioux Empire
• 2025-10-24 Price Changed $199,500 REALTOR® Association of the Sioux Empire
• 2025-10-03 Price Changed $209,000 REALTOR® Association of the Sioux Empire
• 2025-09-18 Price Changed $219,000 REALTOR® Association of the Sioux Empire
• 2025-08-31 Listed $240,000 REALTOR® Association of the Sioux Empire
• 2018-03-05 Sold (Public Records) $99,900 Public Records
• 2017-11-14 Listed $99,900 REALTOR® Association of the Sioux Empire
• 2009-08-24 Sold (Public Records) $38,000 Public Records
• 2009-05-20 Listed $40,000 REALTOR® Association of the Sioux Empire
• 2005-07-15 Sold (Public Records) $77,500 Public Records
• 2005-04-20 Listed $77,900 REALTOR® Association of the Sioux Empire

Property tax history

+6.2%/yr

Latest (2024): $3,459 · +25.2% YoY. Source: county tax records.