400 Sunrise Cir Cir · Garretson, SD 57030

$305,000

4 bd · 3.0 ba · 2,074 sqft · SingleFamily public records · 9 Days on market

Built 2005 0.40 ac lot $147/sqft · 10% below area Est $375k · 19% under

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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).

• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Schools +3.8/10.0
• Livability +3.8/5.0
• Cash flow +2.5/30.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Quality built split foyer with double garage on large lot. Lower level newly finished. New carpet and new paint throughout. 2x6 construction, low E glass, high efficiency furnace, vinyl siding

Key facts

• Quiet cul-de-sac
• Spacious kitchen
• Natural light

Tags

• QUIET CUL-DE-SAC
• BRIGHT DINING AREA
• REAR DECK
• SPACIOUS KITCHEN
• OVERSIZED PANTRY
• NATURAL LIGHT

Property features AI

Exterior

• Parking: Attached 2-car garage (24 x 24) with concrete driveway
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Split foyer design; Above-grade and below-grade finished living areas
• Construction: Vinyl siding; Poured foundation; Composition roof; Land owned
• Exterior features: Rear deck; City lot on a cul-de-sac; Irregular, pie-shaped lot

Interior

• Kitchen: Island and spacious pantry; Electric range; Microwave; Dishwasher
• Bedrooms: Main-level master bedroom with two double closets (approx. 11 x 12); Main-level second bedroom with double closet (approx. 11 x 12); Basement third bedroom with closet and garden window (approx. 10 x 12); Basement fourth bedroom (approx. 10 x 12)
• Flooring: Carpet; Tile; Laminate
• Bathrooms: Two full bathrooms (one on main level, one in basement)
• Heating & cooling: Natural gas heating; Central air; Natural gas water heater
• Interior features: 11 total rooms; Full basement; Large living room with big window; Family room with garden windows; Dining area with laminate floors and slider to rear deck; Extra office/toy area
• Laundry & utility: Laundry room in basement

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $305k.

Deal economics

• At list price, monthly cash flow is $-1k ($-13k/yr) — negative.
• To cash-flow at today's rent, offer at most $118k (61.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $128k (58.2% below list).
• Recommended offer: $118k (61.3% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 76/100 on livability (#21 in SD, #3,335 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Garretson School District 49-4 (rural): math 34% / reading 50% proficiency, ranked #43 of 59 in SD (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 14% free/reduced lunch — higher-income household profile.
• Zoned schools: Garretson Elementary - 02 (math 32% / reading 42%, grade F, #183 of 253 statewide, top 73%, 243 students, 22% FRL); Garretson Middle School - 03 (math 37% / reading 57%, grade D+, #70 of 143 statewide, top 50%, 89 students, 20% FRL); Garretson High School - 01 (math 24% / reading 54%, grade F, #123 of 151 statewide, top 83%, 128 students, 7% FRL) — zoned schools at 16% FRL track the district average.
• Market conditions: 28 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,425 units permitted in Minnehaha County in 2024 (1,367 in 5+ unit buildings).

Forward outlook

• In year one you build about $33k of equity ($2k loan paydown + $30k appreciation (10.0% local appreciation)).
• Minnehaha County population projected at +46% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$52k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 26y 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.
• Current owner paid $141k; list at $305k implies a 116% gain — meaningful room to come down on a strong offer.

Recommended offer $118,073 (61.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
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. 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?
5. 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.
6. 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.
7. 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: 0.42% ✗
• Cap rate: 2.13%
• Cash-on-cash: -14.87%
• DSCR: 0.34
• GRM: 19.9

CMA / ARV

• ARV (median comp): $374,743
• List price: $305,000
• Delta: -15.97%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
600 Sarah C St St	0.21mi	4/2.0	2,120 (+2%)	8mo	$349,900	$165	76
501 Northfield St St	0.12mi	4/2.0	1,875 (-10%)	9mo	$310,000	$165	67
812 Sarah C Cir Cir	0.45mi	5/3.0 (+1)	2,008 (-3%)	8mo	$410,000	$204	62
313 Main Ave	0.29mi	4/2.0	2,041 (-2%)	23mo	$255,900	$125	60
505 Sarah C St	0.18mi	4/2.0	2,328 (+12%)	15mo	$362,000	$155	55
312 Granite Ave	0.24mi	3/2.0 (-1)	1,824 (-12%)	12mo	$225,000	$123	50
325 N Main Ave	0.31mi	4/2.0	2,232 (+8%)	24mo	$280,000	$125	49
701 Sarah C St	0.45mi	4/3.0	1,797 (-13%)	14mo	$405,550	$226	45
501 Canyon Ave	0.51mi	5/2.0 (+1)	1,931 (-7%)	16mo	$337,777	$175	42
609 Canyon Ave	0.59mi	4/2.0	1,866 (-10%)	20mo	$282,000	$151	35

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.0%
• Equity multiple: 2.16×
• Total profit: $98,710
• Equity at exit: $274,768

10-year hold

• IRR: 14.0%
• Equity multiple: 5.02×
• Total profit: $343,670
• Equity at exit: $592,548

Cash invested: $85,400 (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 57030

• Home prices YoY: 11.7%
• Active inventory: 28
• Price-to-rent: 19.9×

Monthly cashflow live

• Estimated rent: $1,275 medium
• Mortgage (P&I): −$1,599
• Tax from tax record: −$339 /mo · $4,066/yr
• Insurance: −$127
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $-1,058

Break-even live

Break-even rent $2,614

Max offer price $118,073

Occupancy floor —

Sensitivity live

Price	-10% $-885	-5% $-972	+0% $-1,058	+5% $-1,144	+10% $-1,231
Rent	-10% $-1,159	-5% $-1,109	+0% $-1,058	+5% $-1,008	+10% $-957
Rate	-1.0pp $-905	-0.5pp $-981	base $-1,058	+0.5pp $-1,137	+1.0pp $-1,218

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: $76,250
• Closing costs: $9,150
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
805 4th St Garretson, SD	3.0	2.0	1475	$1,275	$0.86	15d	1	0.65mi

Listing history 13 events

1. 2026-06-07
   pricestatusdays on market $305,000 Pending 9 DOM
2. 2026-06-03
   days on market $314,900 Active 7 DOM
3. 2026-06-02
   days on market $314,900 Active 6 DOM
4. 2026-06-01
   days on market $314,900 Active 5 DOM
5. 2026-05-31
   days on market $314,900 Active 4 DOM
6. 2026-05-30
   days on market $314,900 Active 3 DOM
7. 2026-05-19
   price $314,900 1193-char remark
8. 2026-04-29
   listed $324,900 Active 1193-char remark
9. 2013-06-04
   soldstatus $141,000
10. 2012-10-23
    listed $148,500 192-char remark

    Show marketing remark (192 chars)

    Quality built split foyer with double garage on large lot. Lower level newly finished. New carpet and new paint throughout. 2x6 construction, low E glass, high efficiency furnace, vinyl siding

11. 2012-10-19
    historical
12. 2012-06-20
    listed $154,900
13. 2000-10-17
    listed $18,900

ⓘ 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: $4,066 · $339/mo
• Projected year-2 tax: $4,066 · $339/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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°F today · 15 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: $15,300
• − Mortgage interest: −$17,085
• − Property taxes: −$4,066
• − Insurance: −$1,525
• − Repairs & maintenance: −$1,224
• − Management: −$1,224
• − Depreciation: −$8,873
• Taxable loss: −$18,697
• Est. tax savings @ 24.0%: +$4,487
• After-tax cash flow: $-8,211/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: Garretson School District 49-4
• NCES district ID: 4626370
• Math proficiency: 34% ▼ -7.00%
• Reading proficiency: 50% ▼ -4.00%
• Median HH income: $66,209
• Composite: 37.64/100
• National rank: #4375
• State rank: #43 of 59 in SD

Livability — Garretson

• Score: 76/100
• State rank: #21
• US rank: #3335

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Garretson, SD
• Population (ZIP): 2,617

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 (92%)
• Race & ethnicity: White 92% Native American 6% Two or more races 2%
• Common ancestry: Portuguese 23% Iranian 9% Slovak 2%
• Foreign-born: 0%
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 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: ▲ 34.93%
• Current HPI: 333.39
• Rent YoY: —
• Metro: —
• 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

+1513.8% since first listed

11 events — show timeline

• 2026-06-05 Pending — REALTOR® Association of the Sioux Empire
• 2026-06-04 Price Changed $305,000 REALTOR® Association of the Sioux Empire
• 2026-05-27 Listing Removed — REALTOR® Association of the Sioux Empire
• 2026-05-27 Listed $314,900 REALTOR® Association of the Sioux Empire
• 2026-05-19 Price Changed $314,900 REALTOR® Association of the Sioux Empire
• 2026-04-29 Listed $324,900 REALTOR® Association of the Sioux Empire
• 2013-06-04 Sold (Public Records) $141,000 Public Records
• 2012-10-23 Listed $148,500 REALTOR® Association of the Sioux Empire
• 2012-10-19 Listing Removed — REALTOR® Association of the Sioux Empire
• 2012-06-20 Listed $154,900 REALTOR® Association of the Sioux Empire
• 2000-10-17 Listed $18,900 REALTOR® Association of the Sioux Empire

Property tax history

+3.5%/yr

Latest (2024): $4,066 · +5.9% YoY. Source: county tax records.