508 Bobwhite Pl Pl · Sioux Falls, SD 57107

$82,500

3 bd · 3.0 ba · 1,596 sqft · Manufactured public records · 97 Days on market

Built 1990 $52/sqft · at area comps Est $83k · at est. $795/mo HOA · 46% of rent ↓ 34% since listing

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Why this score? — see what drove the C- 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 +18.2/30.0
• 1% rule +10.0/10.0
• ARV discount +7.9/15.0
• DSCR +5.7/10.0
• Livability +4.2/5.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

3-bedroom, 2-bathroom manufactured home built in 1990. Located on Bobwhite Place in Sioux Falls, South Dakota. 1,596 square feet, ranch-style single-level layout. Listed at $82,500. The property has undergone a comprehensive renovation package. Exterior updates include new siding, windows, roof, and gutters. Interior mechanical and finish upgrades include a new furnace, central air conditioning, flooring, and interior trim throughout. The kitchen is equipped with a full appliance suite: refrigerator, stove, dishwasher, and garbage disposal. All major systems and finishes have been addressed. Deferred maintenance is not a factor here. The open living and dining area is connected and functional, with natural light delivered through the replacement windows. In-home laundry is included in the layout. A rear patio, two-car-width parking pad, and a storage shed (conveys with acceptable offer) round out the operational footprint. Bobwhite Place provides direct access to Interstate 29, supporting fast metro commutes from this address. Hy-Vee is 1.9 miles. Dollar General is 0.8 miles. Bobwhite Place is priced below the cost of newer subdivisions with comparable or fewer documented upgrades. At $82,500, this acquisition delivers fully updated mechanical systems, refreshed finishes, and low entry cost with immediate occupancy potential. Seller's disclosure and full upgrade documentation are available upon request. 3D tour available. Verify all details independently prior to closing.

Key facts

• Recent updates
• Manufactured home
• Laundry area

Tags

• MANUFACTURED HOME
• RANCH-STYLE LAYOUT
• RECENT UPDATES
• OPEN LAYOUT
• LAUNDRY AREA
• PATIO

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath manufactured listed at $82k.

Deal economics

• At list price, monthly cash flow is $74 ($885/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $82k).
• Recommended offer: $75k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.4% 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.
• Market conditions: 146 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $570 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.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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: HOA is 46% of rent.

Recommended offer $75,075 (9.0% below list)

Questions for the listing agent

1. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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.
8. 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.
9. 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: 2.09% ✓
• Cap rate: 7.37%
• Cash-on-cash: 3.83%
• DSCR: 1.17
• GRM: 4.0

CMA / ARV

• ARV (median comp): $83,330
• List price: $82,500
• Delta: -1.00%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6100 W Canary Pl Pl	0.08mi	3/2.0	1,504 (-6%)	4mo	$95,665	$64	80
903 N Bobwhite Pl Pl	0.29mi	4/2.0 (+1)	1,620 (+2%)	5mo	$117,585	$73	71
6404 W Nuthatch Pl	0.08mi	4/2.0 (+1)	1,680 (+5%)	10mo	$89,000	$53	70
6019 W Flamingo Pl	0.15mi	3/2.0	1,568 (-2%)	20mo	$90,000	$57	69
707 N Mallard Pl	0.17mi	3/2.5	1,768 (+11%)	14mo	$115,000	$65	60
908 N Redbird Pl	0.31mi	3/2.0	1,680 (+5%)	18mo	$135,000	$80	57
504 N Swan Pl	0.42mi	3/2.0	1,680 (+5%)	14mo	$110,000	$65	56
912 N Nunda Pl	0.38mi	3/2.0	1,404 (-12%)	20mo	$76,000	$54	41

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -9.7%
• Equity multiple: 0.64×
• Total profit: $-8,202
• Equity at exit: $12,301

10-year hold

• IRR: 0.5%
• Equity multiple: 1.03×
• Total profit: $807
• Equity at exit: $7,133

Cash invested: $23,100 (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 57107

• Home prices YoY: -21.6%
• Active inventory: 146
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,724 high
• Mortgage (P&I): −$433
• Tax from tax record: −$27 /mo · $319/yr
• Insurance: −$34
• HOA: −$795
• Vacancy / Maint / Mgmt: −$362
• Net cashflow: $74

Break-even live

Break-even rent $1,631

Max offer price $82,500

Occupancy floor 91%

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: $20,625
• Closing costs: $2,475
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6516 W 6th Pl Sioux Falls, SD	4.0	2.5	1800	$2,200	$1.22	43d	1	0.22mi
5317 W Pineridge Dr Sioux Falls, SD	3.0	1.0–2.0	872	$1,365	$1.56	13d	15	0.64mi
500 S Ruth Ave Sioux Falls, SD	3.0	2.0	1100	$1,301	$1.18	13d	1	1.13mi
912 S Willow Creek Pl Sioux Falls, SD	1.0–2.0	1.0–2.0	868	$1,482	$1.71	13d	4	1.19mi
912 Willow Creek Pl Unit 928-10 Sioux Falls, SD	2.0	2.0	1086	$1,294	$1.19	21d	1	1.19mi
5811 W Christopher Pl Unit 15 Sioux Falls, SD	2.0	2.0	1100	$1,095	$1.00	43d	1	1.21mi
920 Willow Creek Pl Unit 920-14 Sioux Falls, SD	2.0	2.0	1086	$1,250	$1.15	21d	1	1.26mi
1123 S Bridgeport Pl Sioux Falls, SD	2.0	1.5	1224	$1,275	$1.04	43d	1	1.26mi
1125 S Ebenezer Ave Sioux Falls, SD	1.0–2.0	1.0–2.0	936	$1,370	$1.46	13d	10	1.46mi

HOA detail

• Monthly dues: $795 · $9,540/yr
• Likely covers: trash

Listing history 25 events

1. 2026-06-18
   days on market $82,500 Active 97 DOM
2. 2026-06-17
   days on market $82,500 Active 96 DOM
3. 2026-06-16
   days on market $82,500 Active 95 DOM
4. 2026-06-15
   days on market $82,500 Active 94 DOM
5. 2026-06-14
   days on market $82,500 Active 92 DOM
6. 2026-06-13
   days on market $82,500 Active 91 DOM
7. 2026-06-10
   days on market $82,500 Active 89 DOM
8. 2026-06-09
   days on market $82,500 Active 88 DOM
9. 2026-06-08
   days on market $82,500 Active 87 DOM
10. 2026-06-07
    days on market $82,500 Active 86 DOM
11. 2026-06-05
    days on market $82,500 Active 83 DOM
12. 2026-06-03
    days on market $82,500 Active 82 DOM
13. 2026-06-02
    days on market $82,500 Active 81 DOM
14. 2026-06-01
    days on market $82,500 Active 80 DOM
15. 2026-05-31
    days on market $82,500 Active 79 DOM
16. 2026-05-30
    days on market $82,500 Active 78 DOM
17. 2026-03-13
    listed $82,500 Active 1496-char remark

    Show marketing remark (1496 chars)

    3-bedroom, 2-bathroom manufactured home built in 1990. Located on Bobwhite Place in Sioux Falls, South Dakota. 1,596 square feet, ranch-style single-level layout. Listed at $82,500. The property has undergone a comprehensive renovation package. Exterior updates include new siding, windows, roof, and gutters. Interior mechanical and finish upgrades include a new furnace, central air conditioning, flooring, and interior trim throughout. The kitchen is equipped with a full appliance suite: refrigerator, stove, dishwasher, and garbage disposal. All major systems and finishes have been addressed. Deferred maintenance is not a factor here. The open living and dining area is connected and functional, with natural light delivered through the replacement windows. In-home laundry is included in the layout. A rear patio, two-car-width parking pad, and a storage shed (conveys with acceptable offer) round out the operational footprint. Bobwhite Place provides direct access to Interstate 29, supporting fast metro commutes from this address. Hy-Vee is 1.9 miles. Dollar General is 0.8 miles. Bobwhite Place is priced below the cost of newer subdivisions with comparable or fewer documented upgrades. At $82,500, this acquisition delivers fully updated mechanical systems, refreshed finishes, and low entry cost with immediate occupancy potential. Seller's disclosure and full upgrade documentation are available upon request. 3D tour available. Verify all details independently prior to closing.

18. 2026-03-10
    historical
19. 2025-12-15
    price $82,499
20. 2025-10-13
    listed $82,500 Active
21. 2025-10-06
    status Pending
22. 2025-10-05
    historical
23. 2025-09-18
    price $65,000
24. 2025-09-08
    price $110,000
25. 2025-08-27
    listed $125,000 Active

ⓘ 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: $319 · $27/mo
• Projected year-2 tax: $1,081 · $90/mo
• Expected delta: +$762/yr (+$64/mo · 239.3%)

ⓘ 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 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: $20,694
• − Mortgage interest: −$4,621
• − Property taxes: −$319
• − Insurance: −$412
• − Repairs & maintenance: −$1,655
• − Management: −$1,655
• − HOA: −$9,540
• − Depreciation: −$2,400
• Taxable income: $90
• Est. tax owed @ 24.0%: −$22
• After-tax cash flow: $864/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): 12,605
• Household income: $74,141
• Rent vs Own: 34.5% rent · 65.5% own
• Severe rent burden: 360.0

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 (70%)
• Race & ethnicity: White 70% Hispanic / Latino 15% Black 9% Two or more races 8% Asian 2%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Portuguese 11% Iranian 4% Lithuanian 1%
• Foreign-born: 11% · Canada, South Korea, Philippines
• Languages at home: 87% English-only · Spanish 9% Other Asian/Pacific 1% Russian/Polish/Slavic 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: ▼ -62.13%
• Current HPI: 225.7479
• Rent YoY: —
• 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

-34.0% since first listed

9 events — show timeline

• 2026-03-13 Listed $82,500 REALTOR® Association of the Sioux Empire
• 2026-03-10 Listing Removed — REALTOR® Association of the Sioux Empire
• 2025-12-15 Price Changed $82,499 REALTOR® Association of the Sioux Empire
• 2025-10-13 Listed $82,500 REALTOR® Association of the Sioux Empire
• 2025-10-06 Pending — REALTOR® Association of the Sioux Empire
• 2025-10-05 Listing Removed — REALTOR® Association of the Sioux Empire
• 2025-09-18 Price Changed $65,000 REALTOR® Association of the Sioux Empire
• 2025-09-08 Price Changed $110,000 REALTOR® Association of the Sioux Empire
• 2025-08-27 Listed $125,000 REALTOR® Association of the Sioux Empire

Property tax history

-3.2%/yr

Latest (2024): $319 · -3.7% YoY. Source: county tax records.