904 S Ruby Pl · Sioux Falls, SD 57106

$59,000

2 bd · 2.0 ba · 1,072 sqft · Manufactured public records · 13 Days on market

Built 1991 Est $66k · 11% under

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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
• ARV discount +12.6/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.2/5.0
• Schools +3.7/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• Front deck
• Fresh paint
• Well maintained

Tags

• WELL MAINTAINED
• NEWER FLOORINGS
• FRESH PAINT
• FRONT DECK

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $59k.

Deal economics

• At list price, monthly cash flow is $592 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $59k).
• Cap rate 18.3% 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: Hayward Elementary - 38 (math 19% / reading 19%, grade F, #237 of 253 statewide, top 94%, 652 students, 70% FRL); George Mcgovern Middle School -09 (math 11% / reading 22%, grade F, #138 of 143 statewide, top 96%, 719 students, 59% FRL); Roosevelt High School - 03 (math 40% / reading 60%, grade D+, #67 of 151 statewide, top 45%, 1,713 students, 28% FRL) — zoned schools average 52% FRL vs 36% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 28% at this address vs 44% district-wide (-15 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 (+2.2%/yr); 399 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,425 units permitted in Minnehaha County in 2024 (1,367 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $408 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 2.2% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $59,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
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: 2.02% ✓
• Cap rate: 18.34%
• Cash-on-cash: 43.03%
• DSCR: 2.91
• GRM: 4.1

CMA / ARV

• ARV (on-the-fly): $66,464
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1008 S Liberty Pl	0.05mi	3/2.0 (+1)	1,152 (+8%)	16mo	$71,000	$62	67
1010 S Ruby Pl	0.13mi	3/2.0 (+1)	1,216 (+13%)	10mo	$78,000	$64	58
103 N Cheers Pl	0.62mi	3/2.0 (+1)	1,144 (+7%)	10mo	$30,000	$26	47
300 N Dogwood Pl	0.69mi	3/2.0 (+1)	1,190 (+11%)	14mo	$20,000	$17	32
6304 W Sandalwood Pl Pl	0.75mi	3/2.0 (+1)	1,216 (+13%)	8mo	$104,900	$86	31
607 Ebenezer Ave	0.75mi	3/2.0 (+1)	1,216 (+13%)	13mo	$65,000	$53	27

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

Projected returns pro-forma

-3.0% appreciation · 2.18% rent growth · sell at horizon

5-year hold

• IRR: 38.9%
• Equity multiple: 2.64×
• Total profit: $27,174
• Equity at exit: $8,797

10-year hold

• IRR: 45.0%
• Equity multiple: 5.13×
• Total profit: $68,234
• Equity at exit: $5,101

Cash invested: $16,520 (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 57106

• Rents YoY: 2.2%
• Active inventory: 399
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,192 high
• Mortgage (P&I): −$309
• Tax from tax record: −$16 /mo · $186/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$250
• Net cashflow: $592

Break-even live

Break-even rent $442

Max offer price $59,000

Occupancy floor 45%

Sensitivity live

Price	-10% $626	-5% $609	+0% $592	+5% $576	+10% $559
Rent	-10% $498	-5% $545	+0% $592	+5% $639	+10% $687
Rate	-1.0pp $622	-0.5pp $607	base $592	+0.5pp $577	+1.0pp $562

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5811 W Christopher Pl Unit 15 Sioux Falls, SD	2.0	2.0	1100	$1,095	$1.00	45d	1	0.20mi
5811 W Christopher Pl Unit 02 Sioux Falls, SD	2.0	1.0	1010	$900	$0.89	45d	1	0.20mi
5801 W Christopher Pl Sioux Falls, SD	2.0–3.0	1.0	989	$897	$0.91	22d	3	0.24mi
1123 S Bridgeport Pl Sioux Falls, SD	2.0	1.5	1224	$1,275	$1.04	45d	1	0.29mi
920 Willow Creek Pl Unit 920-14 Sioux Falls, SD	2.0	2.0	1086	$1,250	$1.15	22d	1	0.59mi
912 S Willow Creek Pl Sioux Falls, SD	1.0–2.0	1.0–2.0	868	$1,482	$1.71	15d	4	0.60mi
912 Willow Creek Pl Unit 928-10 Sioux Falls, SD	2.0	2.0	1086	$1,294	$1.19	22d	1	0.60mi
5007 W Equestrian Pl Sioux Falls, SD	1.0	1.0	676	$1,025	$1.52	15d	7	0.63mi
5008 W Equestrian Pl Sioux Falls, SD	1.0	1.0	678	$988	$1.46	22d	2	0.70mi
1402 S Marion Rd Sioux Falls, SD	1.0–3.0	1.0–2.0	1034	$1,032	$1.00	15d	1	0.72mi
1125 S Ebenezer Ave Sioux Falls, SD	1.0–2.0	1.0–2.0	936	$1,370	$1.46	15d	10	0.77mi
1111 S Sertoma Ave Sioux Falls, SD	1.0–2.0	1.0–2.0	797	$1,115	$1.40	15d	11	0.81mi
500 S Ruth Ave Sioux Falls, SD	3.0	2.0	1100	$1,301	$1.18	15d	1	0.90mi
2024 S Oxford Ave Sioux Falls, SD	2.0	2.0	1292	$1,700	$1.32	45d	1	0.92mi
2301 S Lorraine Pl Sioux Falls, SD	2.0	1.0–2.0	834	$1,695	$2.03	15d	15	1.27mi
925 S Newcomb Ave Unit 18 Sioux Falls, SD	2.0	1.0	900	$950	$1.06	22d	1	1.29mi
925 S Newcomb Ave Apt 12 Sioux Falls, SD	2.0	1.0	890	$950	$1.07	45d	1	1.29mi
701 S Lyons Ave Sioux Falls, SD	3.0	2.0	1100	$1,005	$0.91	45d	1	1.32mi

Listing history 9 events

1. 2026-06-21
   days on market $59,000 Active 13 DOM
2. 2026-06-18
   days on market $59,000 Active 10 DOM
3. 2026-06-17
   days on market $59,000 Active 9 DOM
4. 2026-06-16
   days on market $59,000 Active 8 DOM
5. 2026-06-15
   days on market $59,000 Active 7 DOM
6. 2026-06-14
   days on market $59,000 Active 5 DOM
7. 2026-06-13
   days on market $59,000 Active 4 DOM
8. 2026-06-10
   days on market $59,000 Active 2 DOM
9. 2026-06-09
   listed $59,000 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: $186 · $16/mo
• Projected year-2 tax: $773 · $64/mo
• Expected delta: +$586/yr (+$49/mo · 314.6%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $14,307
• − Mortgage interest: −$3,305
• − Property taxes: −$186
• − Insurance: −$295
• − Repairs & maintenance: −$1,145
• − Management: −$1,145
• − Depreciation: −$1,716
• Taxable income: $6,515
• Est. tax owed @ 24.0%: −$1,564
• After-tax cash flow: $5,545/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): 51,907
• Household income: $77,580
• Rent vs Own: 41.2% rent · 58.8% own
• Severe rent burden: 1500.0

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 (81%)
• Race & ethnicity: White 81% Hispanic / Latino 7% Two or more races 7% Black 5% Asian 1% Native American 1%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Portuguese 12% Iranian 7% Lithuanian 2%
• Foreign-born: 7% · Canada
• Languages at home: 91% English-only · Spanish 5% Russian/Polish/Slavic 1% Other Indo-European 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: ▼ -138.17%
• Current HPI: 214.9065
• Rent YoY: ▲ 2.18%
• 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

1 event — show timeline

• 2026-06-09 Listed $59,000 FSBO.com

Property tax history

-2.1%/yr

Latest (2024): $186 · -4.3% YoY. Source: county tax records.