5802 W Owl Pl · Sioux Falls, SD 57107

$120,000

3 bd · 4.0 ba · 1,512 sqft · Manufactured public records · 37 Days on market

Built 1996 $79/sqft · 93% above area

---

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
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• ARV discount +7.5/15.0
• 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

Key facts

• One stall garage
• Extra large lot
• Open layout

Tags

• ONE STALL GARAGE
• EXTRA LARGE LOT
• FULLY WOOD FENCE
• KITCHEN FULLY RENOVATED
• BOTH BATHROOMS FULLY RENOVATED
• OPEN LAYOUT

What this means for you Summary

Snapshot

• This is a 3-bed/4.0-bath manufactured listed at $120k.

Deal economics

• At list price, monthly cash flow is $504 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.3% 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.
• Market conditions: 146 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $830 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.

Recommended offer $116,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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. 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: 1.28% ✓
• Cap rate: 11.34%
• Cash-on-cash: 18.02%
• DSCR: 1.80
• GRM: 6.5

CMA / ARV

• ARV (median comp): $62,312
• List price: $120,000
• Delta: 92.58%
• Verdict: OVERPRICED
• 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	0.31mi	3/2.0	1,504 (-0%)	4mo	$95,665	$64	74
600 N Swan Pl Pl	0.12mi	3/2.0	1,344 (-11%)	2mo	$79,900	$59	66
504 N Swan Pl	0.13mi	3/2.0	1,680 (+11%)	14mo	$110,000	$65	56
6019 W Flamingo Pl	0.31mi	3/2.0	1,568 (+4%)	20mo	$90,000	$57	54
912 N Nunda Pl	0.26mi	3/2.0	1,404 (-7%)	20mo	$76,000	$54	51
903 N Bobwhite Pl Pl	0.42mi	4/2.0 (+1)	1,620 (+7%)	5mo	$117,585	$73	51
6404 W Nuthatch Pl	0.35mi	4/2.0 (+1)	1,680 (+11%)	10mo	$89,000	$53	44
908 N Redbird Pl	0.34mi	3/2.0	1,680 (+11%)	18mo	$135,000	$80	42

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: 9.6%
• Equity multiple: 1.38×
• Total profit: $12,638
• Equity at exit: $17,892

10-year hold

• IRR: 18.7%
• Equity multiple: 2.55×
• Total profit: $52,184
• Equity at exit: $10,375

Cash invested: $33,600 (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: 6.5×

Monthly cashflow live

• Estimated rent: $1,542 high
• Mortgage (P&I): −$629
• Tax from tax record: −$34 /mo · $412/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$324
• Net cashflow: $504

Break-even live

Break-even rent $903

Max offer price $120,000

Occupancy floor 62%

Sensitivity live

Price	-10% $572	-5% $538	+0% $504	+5% $471	+10% $437
Rent	-10% $383	-5% $444	+0% $504	+5% $565	+10% $626
Rate	-1.0pp $565	-0.5pp $535	base $504	+0.5pp $473	+1.0pp $442

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 10 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	44d	1	0.47mi
5317 W Pineridge Dr Sioux Falls, SD	3.0	1.0–2.0	872	$1,365	$1.56	14d	15	0.53mi
500 S Ruth Ave Sioux Falls, SD	3.0	2.0	1100	$1,301	$1.18	14d	1	0.94mi
912 S Willow Creek Pl Sioux Falls, SD	1.0–2.0	1.0–2.0	868	$1,482	$1.71	14d	4	1.09mi
912 Willow Creek Pl Unit 928-10 Sioux Falls, SD	2.0	2.0	1086	$1,294	$1.19	21d	1	1.09mi
920 Willow Creek Pl Unit 920-14 Sioux Falls, SD	2.0	2.0	1086	$1,250	$1.15	21d	1	1.17mi
5811 W Christopher Pl Unit 15 Sioux Falls, SD	2.0	2.0	1100	$1,095	$1.00	44d	1	1.24mi
1123 S Bridgeport Pl Sioux Falls, SD	2.0	1.5	1224	$1,275	$1.04	44d	1	1.27mi
1125 S Ebenezer Ave Sioux Falls, SD	1.0–2.0	1.0–2.0	936	$1,370	$1.46	14d	10	1.35mi
701 S Lyons Ave Sioux Falls, SD	3.0	2.0	1100	$1,005	$0.91	44d	1	1.35mi

Listing history 17 events

1. 2026-06-18
   days on market $120,000 Active 37 DOM
2. 2026-06-17
   days on market $120,000 Active 36 DOM
3. 2026-06-16
   days on market $120,000 Active 35 DOM
4. 2026-06-15
   days on market $120,000 Active 34 DOM
5. 2026-06-14
   days on market $120,000 Active 32 DOM
6. 2026-06-13
   days on market $120,000 Active 31 DOM
7. 2026-06-10
   days on market $120,000 Active 29 DOM
8. 2026-06-09
   days on market $120,000 Active 28 DOM
9. 2026-06-08
   days on market $120,000 Active 27 DOM
10. 2026-06-07
    days on market $120,000 Active 26 DOM
11. 2026-06-05
    days on market $120,000 Active 23 DOM
12. 2026-06-03
    days on market $120,000 Active 22 DOM
13. 2026-06-02
    days on market $120,000 Active 21 DOM
14. 2026-06-01
    days on market $120,000 Active 20 DOM
15. 2026-05-31
    days on market $120,000 Active 19 DOM
16. 2026-05-30
    days on market $120,000 Active 18 DOM
17. 2026-05-12
    listed $120,000 Active 503-char remark

ⓘ 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: $412 · $34/mo
• Projected year-2 tax: $1,572 · $131/mo
• Expected delta: +$1,160/yr (+$97/mo · 281.8%)

ⓘ 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: $18,503
• − Mortgage interest: −$6,722
• − Property taxes: −$412
• − Insurance: −$600
• − Repairs & maintenance: −$1,480
• − Management: −$1,480
• − Depreciation: −$3,491
• Taxable income: $4,318
• Est. tax owed @ 24.0%: −$1,036
• After-tax cash flow: $5,018/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

1 event — show timeline

• 2026-05-12 Listed $120,000 FSBO.com

Property tax history

-3.7%/yr

Latest (2024): $412 · -3.6% YoY. Source: county tax records.