385 Wessington St S · Wessington, SD 57381

$119,500

3 bd · 2.0 ba · 1,560 sqft · SingleFamily · 45 Days on market

Built 1924 0.28 ac lot

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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 +25.1/30.0
• DSCR +8.2/10.0
• ARV discount +7.5/15.0
• 1% rule +5.6/10.0
• Appreciation +5.0/10.0
• Schools +3.1/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Step into timeless charm with this beautifully updated 2-story home that perfectly blends character with modern convenience. Offering 3 bedrooms and 2 bathrooms, this inviting property has been thoughtfully improved from top to bottom.

Key facts

• Updated electrical
• New kitchen
• New sewer line

Tags

• NEW SEWER LINE
• UPDATED ELECTRICAL
• UPDATED PLUMBING
• REVERSE OSMOSIS SYSTEM
• NEW KITCHEN
• BUTCHER BLOCK COUNTERTOPS

Property features AI

Exterior

• Home design: Residential property
• Exterior features: Gravel road access; Lot dimensions approximately 75 x 165; Zoning: A

Interior

• Bathrooms: 1 full bathroom; 1 three-quarter bathroom
• Heating & cooling: Central air
• Interior features: Dryer; Refrigerator; Washer; Central air conditioning
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $265 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#244 in SD) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-; Watch: health & safety C-, schools F, crime F.
• Wolsey Wessington School District 02-6 (rural): math 30% / reading 35% proficiency, ranked #128 of 148 in SD (top 86%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 3 active listings in the ZIP; 30 units permitted in Beadle County in 2024 (6 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($826 loan paydown + $4k appreciation (3.0% local appreciation)).
• Beadle County population projected at +39% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $8k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; list at $120k implies a 139% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $115,915 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
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: 1.06% ✓
• Cap rate: 8.96%
• Cash-on-cash: 9.51%
• DSCR: 1.42
• GRM: 7.9

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: 16.4%
• Equity multiple: 1.93×
• Total profit: $31,243
• Equity at exit: $53,732

10-year hold

• IRR: 17.9%
• Equity multiple: 3.62×
• Total profit: $87,526
• Equity at exit: $82,808

Cash invested: $33,460 (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 57381

• Active inventory: 3
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,264 medium
• Mortgage (P&I): −$627
• Tax from tax record: −$57 /mo · $688/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $265

Break-even live

Break-even rent $929

Max offer price $119,500

Occupancy floor 74%

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: $29,875
• Closing costs: $3,585
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-18
   days on market $119,500 Active 45 DOM
2. 2026-06-17
   days on market $119,500 Active 44 DOM
3. 2026-06-16
   days on market $119,500 Active 43 DOM
4. 2026-06-15
   days on market $119,500 Active 42 DOM
5. 2026-06-13
   days on market $119,500 Active 40 DOM
6. 2026-06-12
   days on market $119,500 Active 39 DOM
7. 2026-06-09
   days on market $119,500 Active 36 DOM
8. 2026-06-08
   days on market $119,500 Active 35 DOM
9. 2026-06-08
   days on market $119,500 Active 34 DOM
10. 2026-06-05
    days on market $119,500 Active 32 DOM
11. 2026-06-04
    days on market $119,500 Active 30 DOM
12. 2026-06-02
    days on market $119,500 Active 29 DOM
13. 2026-06-01
    days on market $119,500 Active 28 DOM
14. 2026-05-31
    days on market $119,500 Active 27 DOM
15. 2026-05-08
    price $119,500 235-char remark

    Show marketing remark (235 chars)

    Step into timeless charm with this beautifully updated 2-story home that perfectly blends character with modern convenience. Offering 3 bedrooms and 2 bathrooms, this inviting property has been thoughtfully improved from top to bottom.

16. 2026-05-08
    price $119,500

    Show marketing remark (235 chars)

    Step into timeless charm with this beautifully updated 2-story home that perfectly blends character with modern convenience. Offering 3 bedrooms and 2 bathrooms, this inviting property has been thoughtfully improved from top to bottom.

17. 2026-05-08
    listed $127,900 Active 235-char remark

    Show marketing remark (235 chars)

    Step into timeless charm with this beautifully updated 2-story home that perfectly blends character with modern convenience. Offering 3 bedrooms and 2 bathrooms, this inviting property has been thoughtfully improved from top to bottom.

18. 2026-05-04
    listed $127,900 Active
19. 2025-03-07
    soldstatus $49,900 Closed 403-char remark

    Show marketing remark (403 chars)

    Stop the truck? Check out this 2021 constructed 32x52 HEATED shop that gives every guy his dream man cave & place to tinker! This home is a remodelers dream come true once they see the original woodwork. Don't forget the reading bench seated perfectly for morning coffee! Wood burning heat source in living room & propane furnace for modern comforts. Don't miss the CHICKEN COOP! Sold as is.

20. 2025-03-07
    soldstatus Closed

    Show marketing remark (403 chars)

    Stop the truck? Check out this 2021 constructed 32x52 HEATED shop that gives every guy his dream man cave & place to tinker! This home is a remodelers dream come true once they see the original woodwork. Don't forget the reading bench seated perfectly for morning coffee! Wood burning heat source in living room & propane furnace for modern comforts. Don't miss the CHICKEN COOP! Sold as is.

21. 2025-02-25
    status Pending
22. 2025-02-10
    listed $49,000 Active 403-char remark

    Show marketing remark (403 chars)

    Stop the truck? Check out this 2021 constructed 32x52 HEATED shop that gives every guy his dream man cave & place to tinker! This home is a remodelers dream come true once they see the original woodwork. Don't forget the reading bench seated perfectly for morning coffee! Wood burning heat source in living room & propane furnace for modern comforts. Don't miss the CHICKEN COOP! Sold as is.

23. 2025-02-04
    price $49,900
24. 2025-01-10
    price $64,900
25. 2024-12-10
    price $74,900
26. 2024-10-02
    listed $85,000 Active
27. 2021-02-12
    soldstatus $50,000

ⓘ 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: $688 · $57/mo
• Projected year-2 tax: $1,565 · $130/mo
• Expected delta: +$877/yr (+$73/mo · 127.4%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥100°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,174
• − Mortgage interest: −$6,694
• − Property taxes: −$688
• − Insurance: −$598
• − Repairs & maintenance: −$1,214
• − Management: −$1,214
• − Depreciation: −$3,476
• Taxable income: $1,290
• Est. tax owed @ 24.0%: −$310
• After-tax cash flow: $2,872/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: Wolsey Wessington School District 02-6
• NCES district ID: 4680100
• Math proficiency: 30% ▼ -12.00%
• Reading proficiency: 35% ▼ -12.00%
• Median HH income: $47,119
• Composite: 30.72/100
• National rank: #11418
• State rank: #128 of 148 in SD

Livability — Wessington

• Score: 60/100
• State rank: #244
• US rank: #18646

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wessington, SD
• Population (ZIP): 504

Population outlook (Beadle County) Hauer SSP2

• Today (2025): 20,094 people
• By 2030: 21,218 · +5.6%
• By 2040: 24,042 · +19.6%
• By 2050: 27,931 · +39.0%
• By 2075: 43,296 · +115.5%
• By 2100: 65,888 · +227.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Portuguese 9% Iranian 7% Romanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · German/W. Germanic 1%

Political lean MEDSL · Beadle

• 2024 margin: Solid R (+40.1) · D 28.8% · R 68.8% · Other 2.4%
• 2008→2024 swing: -32.8pp toward R · 2008: -7.3pp · 2024: -40.1pp
• All cycles: 2024: R+40.1 2020: R+38.1 2016: R+37.6 2012: R+18.6 2008: R+7.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+139.0% since first listed

13 events — show timeline

• 2026-05-08 Price Changed $119,500 MBOR
• 2026-05-08 Price Changed $119,500 HBOR
• 2026-05-08 Listed $127,900 MBOR
• 2026-05-04 Listed $127,900 HBOR
• 2025-03-07 Sold (MLS) — HBOR
• 2025-03-07 Sold (MLS) $49,900 MBOR
• 2025-02-25 Pending — HBOR
• 2025-02-10 Listed $49,000 MBOR
• 2025-02-04 Price Changed $49,900 HBOR
• 2025-01-10 Price Changed $64,900 HBOR
• 2024-12-10 Price Changed $74,900 HBOR
• 2024-10-02 Listed $85,000 HBOR
• 2021-02-12 Sold (Public Records) $50,000 Public Records

Property tax history

+7.5%/yr

Latest (2026): $688 · -20.7% YoY. Source: county tax records.