1012 Kim Ln · Vermillion, SD 57069

$45,000

3 bd · 2.0 ba · 1,216 sqft · Manufactured public records · 38 Days on market

Built 1998

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well maintained 1998 16x76 Friendship 3 BR 2 BA mobile home with newer water heater and stove. Lot rent $220

Key facts

• White cabinets
• Open layout
• Modern finishings

Tags

• OPEN LAYOUT
• MODERN FINISHINGS
• UPDATED KITCHEN
• NEW DISHWASHER
• WHITE CABINETS
• BAY WINDOW

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $45k.

Deal economics

• At list price, monthly cash flow is $522 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $44k (3.0% below list) — sets the bar for market timing.
• Cap rate 20.2% vs local median 2.5% in Vermillion — 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 84/100 on livability (#5 in SD, #757 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: commute F, employment F.
• Vermillion School District 13-1 (town): math 44% / reading 61% proficiency, ranked #27 of 59 in SD (top 46%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 120 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 28 units permitted in Clay County in 2024 (10 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $311 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Clay County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 11y 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.

Recommended offer $43,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-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?
4. 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.
5. 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.
6. 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: 2.27% ✓
• Cap rate: 20.20%
• Cash-on-cash: 49.68%
• DSCR: 3.21
• GRM: 3.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 47.3%
• Equity multiple: 3.06×
• Total profit: $25,931
• Equity at exit: $6,710

10-year hold

• IRR: 53.0%
• Equity multiple: 6.19×
• Total profit: $65,360
• Equity at exit: $3,891

Cash invested: $12,600 (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 57069

• Home prices YoY: -32.8%
• Active inventory: 120
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,022 medium
• Mortgage (P&I): −$236
• Tax from tax record: −$31 /mo · $369/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$215
• Net cashflow: $522

Break-even live

Break-even rent $361

Max offer price $45,000

Occupancy floor 44%

Sensitivity live

Price	-10% $547	-5% $534	+0% $522	+5% $509	+10% $496
Rent	-10% $441	-5% $481	+0% $522	+5% $562	+10% $602
Rate	-1.0pp $544	-0.5pp $533	base $522	+0.5pp $510	+1.0pp $498

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1000 N Dakota St Vermillion, SD	2.0	2.0	790	$756	$0.96	45d	1	1.08mi
105 E Dartmouth St Vermillion, SD	2.0	1.0	700	$900	$1.29	45d	1	1.16mi

Listing history 21 events

1. 2026-06-19
   days on market $45,000 Active 38 DOM
2. 2026-06-18
   days on market $45,000 Active 37 DOM
3. 2026-06-17
   days on market $45,000 Active 36 DOM
4. 2026-06-16
   days on market $45,000 Active 35 DOM
5. 2026-06-15
   days on market $45,000 Active 34 DOM
6. 2026-06-14
   days on market $45,000 Active 32 DOM
7. 2026-06-12
   days on market $45,000 Active 31 DOM
8. 2026-06-09
   days on market $45,000 Active 28 DOM
9. 2026-06-08
   days on market $45,000 Active 27 DOM
10. 2026-06-07
    days on market $45,000 Active 26 DOM
11. 2026-06-05
    days on market $45,000 Active 24 DOM
12. 2026-06-04
    days on market $45,000 Active 22 DOM
13. 2026-06-02
    days on market $45,000 Active 21 DOM
14. 2026-06-01
    days on market $45,000 Active 20 DOM
15. 2026-05-31
    days on market $45,000 Active 19 DOM
16. 2026-05-31
    days on market $45,000 Active 18 DOM
17. 2026-05-12
    listed $45,000 Active 823-char remark
18. 2022-07-11
    soldstatus $39,500
19. 2022-03-17
    soldstatus $11,000
20. 2015-06-15
    soldstatus $15,000 108-char remark

    Show marketing remark (108 chars)

    Well maintained 1998 16x76 Friendship 3 BR 2 BA mobile home with newer water heater and stove. Lot rent $220

21. 2015-04-14
    listed $19,000 108-char remark

    Show marketing remark (108 chars)

    Well maintained 1998 16x76 Friendship 3 BR 2 BA mobile home with newer water heater and stove. Lot rent $220

ⓘ 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: $369 · $31/mo
• Projected year-2 tax: $590 · $49/mo
• Expected delta: +$220/yr (+$18/mo · 59.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌡 Heat 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,261
• − Mortgage interest: −$2,521
• − Property taxes: −$369
• − Insurance: −$225
• − Repairs & maintenance: −$981
• − Management: −$981
• − Depreciation: −$1,309
• Taxable income: $5,875
• Est. tax owed @ 24.0%: −$1,410
• After-tax cash flow: $4,850/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: Vermillion School District 13-1
• NCES district ID: 4674370
• Math proficiency: 44% ▼ -8.00%
• Reading proficiency: 61% ▼ -7.00%
• Median HH income: $36,421
• Composite: 43.49/100
• National rank: #2995
• State rank: #27 of 59 in SD

Livability — Vermillion

• Score: 84/100
• State rank: #5
• US rank: #757

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Vermillion, SD
• County: Clay County · 13,091 people
• City population: 13,091
• Metro: Vermillion, SD
• Population (ZIP): 13,091
• Household income: $53,327
• Rent vs Own: 53.8% rent · 46.2% own
• Severe rent burden: 792.0

Population outlook (Clay County) Hauer SSP2

• Today (2025): 15,009 people
• By 2030: 15,554 · +3.6%
• By 2040: 15,862 · +5.7%
• By 2050: 16,801 · +11.9%
• By 2075: 20,880 · +39.1%
• By 2100: 27,360 · +82.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Native American 5% Asian 3% Two or more races 3% Hispanic / Latino 3% Black 2%
• Common ancestry: Portuguese 9% Iranian 2% Serbian 2%
• Foreign-born: 5% · Canada, China, Vietnam
• Languages at home: 94% English-only · Chinese 1% Spanish 1% Arabic 1%

Political lean MEDSL · Clay

• 2024 margin: Lean D (+6.5) · D 52.0% · R 45.5% · Other 2.5%
• 2008→2024 swing: -17.7pp toward R · 2008: 24.2pp · 2024: 6.5pp
• All cycles: 2024: D+6.5 2020: D+11.0 2016: D+9.8 2012: D+15.5 2008: D+24.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -90.55%
• Current HPI: 185.1311
• Rent YoY: —
• Metro: Vermillion, 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

5 events — show timeline

• 2026-05-12 Listed $45,000 FSBO.com
• 2022-07-11 Sold (Public Records) $39,500 Public Records
• 2022-03-17 Sold (Public Records) $11,000 Public Records
• 2015-06-15 Sold (MLS) $15,000 NWIA
• 2015-04-14 Listed $19,000 NWIA

Property tax history

-0.7%/yr

Latest (2025): $369 · +0.6% YoY. Source: county tax records.