1520 N Highland Ave Ave · Sioux Falls, SD 57103

$119,900

1 bd · 2.0 ba · 420 sqft · Other public records · 14 Days on market

Built 1941 5,808 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 +13.4/30.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• DSCR +4.1/10.0
• Schools +3.7/10.0
• 1% rule +3.4/10.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• New refrigerator
• Refreshed kitchen
• Corner lot

Tags

• LUXURY VINYL PLANK FLOORING
• REFRESHED KITCHEN
• HIGH-DEFINITION COUNTERTOPS
• NEW REFRIGERATOR
• FRESHLY PAINTED CABINETRY
• CORNER LOT

Property features AI

Exterior

• Parking: Concrete parking
• Utilities: Public water; Public sewer
• Home design: Single-family ranch-style home; Slab foundation
• Construction: Vinyl siding; Metal roof
• Exterior features: Partial/other fencing; Shed(s) on the property; Corner city lot; Irregular lot shape

Interior

• Kitchen: Updated cabinets; New refrigerator; Range
• Bedrooms: Master bedroom on the main level (approx. 9' x 8') with new flooring, paint, and light
• Flooring: Tile flooring; New flooring in kitchen, living room, and master bedroom noted
• Bathrooms: One remodeled full bathroom on the main level
• Heating & cooling: Wall furnace heating; Window air conditioning unit(s); Natural gas water heater
• Interior features: Main floor laundry; 4 total rooms; Main-level kitchen and living room; New flooring and new paint in several rooms; New light in master bedroom; Laundry and back door area (extra room)
• Laundry & utility: Main level laundry area

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath other listed at $120k.

Deal economics

• At list price, monthly cash flow is $3 ($39/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 $100k (16.4% below list).
• Recommended offer: $100k (16.4% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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: Laura B. Anderson Elementary - 10 (math 17% / reading 37%, grade F, #217 of 253 statewide, top 86%, 355 students, 73% FRL) — zoned schools average 73% FRL vs 36% district-wide (37 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 27% at this address vs 44% district-wide (-16 pts) — the specific schools serving this property underperform the Sioux Falls School District 49-5 average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+3.2%/yr); 161 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 2,425 units permitted in Minnehaha County in 2024 (1,367 in 5+ unit buildings).
• This rent is only 17% of the median local income ($73k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $829 of loan paydown is wiped out by about $4k 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

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $84k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $100,296 (16.4% below list)

Questions for the listing agent

1. Built in 1941 — 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 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?
4. 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?
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: 0.84% ✗
• Cap rate: 6.33%
• Cash-on-cash: 0.12%
• DSCR: 1.01
• GRM: 10.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.23% rent growth · sell at horizon

5-year hold

• IRR: -15.9%
• Equity multiple: 0.43×
• Total profit: $-18,999
• Equity at exit: $17,877

10-year hold

• IRR: -7.1%
• Equity multiple: 0.54×
• Total profit: $-15,355
• Equity at exit: $10,367

Cash invested: $33,572 (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 57103

• Rents YoY: 3.2%
• Active inventory: 161
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,003 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$110 /mo · $1,324/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$211
• Net cashflow: $3

Break-even live

Break-even rent $999

Max offer price $119,900

Occupancy floor 95%

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
104 N Krohn Pl Sioux Falls, SD	1.0	1.0	477	$875	$1.83	13d	2	1.09mi
2909 E 6th St Sioux Falls, SD	3.0	1.0–2.0	773	$877	$1.13	13d	1	1.17mi

Listing history 11 events

1. 2026-06-18
   days on market $119,900 Active 14 DOM
2. 2026-06-17
   days on market $119,900 Active 13 DOM
3. 2026-06-16
   days on market $119,900 Active 12 DOM
4. 2026-06-15
   days on market $119,900 Active 11 DOM
5. 2026-06-14
   days on market $119,900 Active 9 DOM
6. 2026-06-13
   days on market $119,900 Active 8 DOM
7. 2026-06-10
   days on market $119,900 Active 6 DOM
8. 2026-06-09
   days on market $119,900 Active 5 DOM
9. 2026-06-08
   days on market $119,900 Active 4 DOM
10. 2026-06-07
    days on market $119,900 Active 3 DOM
11. 2026-06-05
    listed $119,900 Active 1 DOM

ⓘ 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: $1,324 · $110/mo
• Projected year-2 tax: $1,571 · $131/mo
• Expected delta: +$246/yr (+$21/mo · 18.6%)

ⓘ 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 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: $12,036
• − Mortgage interest: −$6,716
• − Property taxes: −$1,324
• − Insurance: −$600
• − Repairs & maintenance: −$963
• − Management: −$963
• − Depreciation: −$3,488
• Taxable loss: −$2,018
• Est. tax savings @ 24.0%: +$484
• After-tax cash flow: $523/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): 35,582
• Household income: $72,831
• Rent vs Own: 33.9% rent · 66.1% own
• Severe rent burden: 867.0

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 (73%)
• Race & ethnicity: White 73% Black 10% Two or more races 9% Hispanic / Latino 7% Asian 2% Native American 2%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Portuguese 11% Iranian 5% Italian 2%
• Foreign-born: 10% · Canada, India
• Languages at home: 86% English-only · Spanish 5% Other Indo-European 2% Other Asian/Pacific 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: ▼ -163.45%
• Current HPI: 221.5758
• Rent YoY: ▲ 3.23%
• 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

+344.1% since first listed

3 events — show timeline

• 2026-06-04 Listed $119,900 REALTOR® Association of the Sioux Empire
• 2024-07-01 Sold (Public Records) $84,000 Public Records
• 2007-09-04 Sold (Public Records) $27,000 Public Records

Property tax history

+5.4%/yr

Latest (2024): $1,324 · +12.2% YoY. Source: county tax records.