607 Bobwhite Pl Pl · Sioux Falls, SD 57107

$33,000

3 bd · 3.0 ba · 1,056 sqft · Manufactured public records · 79 Days on market

Built 1992 $31/sqft · 37% below area Est $52k · 37% under $753/mo HOA · 56% of rent ↓ 25% since listing

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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 +28.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +9.9/10.0
• 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

Charming and well-maintained home featuring 2 spacious bedrooms and 2 bathrooms, perfect for comfortable living. Enjoy the convenience of a 2-stall garage offering ample storage and parking

Key facts

• 2 garage spots
• Built 1992
• Listed 79 days

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath manufactured listed at $33k.

Deal economics

• At list price, monthly cash flow is $102 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $33k).
• Recommended offer: $31k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.0% 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; 11 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 $228 of loan paydown is wiped out by about $990 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 $9k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($31k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 56% of rent.

Recommended offer $31,020 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% 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: 4.06% ✓
• Cap rate: 10.01%
• Cash-on-cash: 13.28%
• DSCR: 1.59
• GRM: 2.1

CMA / ARV

• ARV (median comp): $52,456
• List price: $33,000
• Delta: -37.09%
• 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
5809 W Wren Pl Pl	0.41mi	3/2.0	1,040 (-2%)	2mo	$45,000	$43	72
6404 W Sandalwood Pl Pl	0.30mi	2/2.0 (-1)	1,032 (-2%)	5mo	$39,000	$38	69
6309 W Grove Pl	0.27mi	3/1.5	1,088 (+3%)	15mo	$27,900	$26	64
901 Mallard Pl	0.22mi	3/1.0	1,128 (+7%)	17mo	$55,000	$49	56
103 N Cheers Pl	0.46mi	3/2.0	1,144 (+8%)	10mo	$30,000	$26	52
909 N Teal St	0.21mi	3/2.0	1,188 (+12%)	18mo	$60,000	$51	50
912 N Doland Pl	0.41mi	2/2.0 (-1)	952 (-10%)	11mo	$28,000	$29	47
300 N Dogwood Pl	0.35mi	3/2.0	1,190 (+13%)	14mo	$20,000	$17	46
414 N Todd Pl Pl	0.44mi	2/1.0 (-1)	902 (-15%)	3mo	$40,000	$44	40
5602 W bluebird Pl	0.51mi	3/1.0	924 (-12%)	12mo	$55,000	$60	37

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: 4.5%
• Equity multiple: 1.18×
• Total profit: $1,630
• Equity at exit: $4,920

10-year hold

• IRR: 14.9%
• Equity multiple: 2.27×
• Total profit: $11,700
• Equity at exit: $2,853

Cash invested: $9,240 (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: 2.1×

Monthly cashflow live

• Estimated rent: $1,338 high
• Mortgage (P&I): −$173
• Tax from tax record: −$15 /mo · $182/yr
• Insurance: −$14
• HOA: −$753
• Vacancy / Maint / Mgmt: −$281
• Net cashflow: $102

Break-even live

Break-even rent $1,209

Max offer price $33,000

Occupancy floor 87%

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: $8,250
• Closing costs: $990
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
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
2316 N Valley View Rd Sioux Falls, SD	1.0–2.0	1.0–2.0	800	$1,225	$1.53	13d	35	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
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
5811 W Christopher Pl Unit 15 Sioux Falls, SD	2.0	2.0	1100	$1,095	$1.00	44d	1	1.21mi
5811 W Christopher Pl Unit 02 Sioux Falls, SD	2.0	1.0	1010	$900	$0.89	44d	1	1.21mi
5801 W Christopher Pl Sioux Falls, SD	2.0–3.0	1.0	989	$1,047	$1.06	21d	3	1.24mi
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	44d	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: $753 · $9,036/yr

Listing history 23 events

1. 2026-06-18
   status $33,000 Pending 79 DOM
2. 2026-06-18
   days on market $33,000 Active 79 DOM
3. 2026-06-17
   days on market $33,000 Active 78 DOM
4. 2026-06-16
   days on market $33,000 Active 77 DOM
5. 2026-06-15
   days on market $33,000 Active 76 DOM
6. 2026-06-14
   days on market $33,000 Active 74 DOM
7. 2026-06-13
   days on market $33,000 Active 73 DOM
8. 2026-06-10
   days on market $33,000 Active 71 DOM
9. 2026-06-09
   days on market $33,000 Active 70 DOM
10. 2026-06-09
    price $33,000 Active 69 DOM
11. 2026-06-08
    days on market $36,000 Active 69 DOM
12. 2026-06-07
    days on market $36,000 Active 68 DOM
13. 2026-06-05
    days on market $36,000 Active 65 DOM
14. 2026-06-03
    days on market $36,000 Active 64 DOM
15. 2026-06-02
    days on market $36,000 Active 63 DOM
16. 2026-06-01
    days on market $36,000 Active 62 DOM
17. 2026-05-31
    days on market $36,000 Active 61 DOM
18. 2026-05-30
    days on market $36,000 Active 60 DOM
19. 2026-05-08
    price $39,000 189-char remark

    Show marketing remark (189 chars)

    Charming and well-maintained home featuring 2 spacious bedrooms and 2 bathrooms, perfect for comfortable living. Enjoy the convenience of a 2-stall garage offering ample storage and parking

20. 2026-04-27
    price $43,000 189-char remark

    Show marketing remark (189 chars)

    Charming and well-maintained home featuring 2 spacious bedrooms and 2 bathrooms, perfect for comfortable living. Enjoy the convenience of a 2-stall garage offering ample storage and parking

21. 2026-04-15
    price $47,000 189-char remark

    Show marketing remark (189 chars)

    Charming and well-maintained home featuring 2 spacious bedrooms and 2 bathrooms, perfect for comfortable living. Enjoy the convenience of a 2-stall garage offering ample storage and parking

22. 2026-04-09
    price $50,000 189-char remark

    Show marketing remark (189 chars)

    Charming and well-maintained home featuring 2 spacious bedrooms and 2 bathrooms, perfect for comfortable living. Enjoy the convenience of a 2-stall garage offering ample storage and parking

23. 2026-03-31
    listed $52,000 Active 189-char remark

    Show marketing remark (189 chars)

    Charming and well-maintained home featuring 2 spacious bedrooms and 2 bathrooms, perfect for comfortable living. Enjoy the convenience of a 2-stall garage offering ample storage and parking

ⓘ 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: $182 · $15/mo
• Projected year-2 tax: $432 · $36/mo
• Expected delta: +$250/yr (+$21/mo · 137.2%)

ⓘ 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: $16,059
• − Mortgage interest: −$1,849
• − Property taxes: −$182
• − Insurance: −$165
• − Repairs & maintenance: −$1,285
• − Management: −$1,285
• − HOA: −$9,036
• − Depreciation: −$960
• Taxable income: $1,298
• Est. tax owed @ 24.0%: −$311
• After-tax cash flow: $915/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

-25.0% since first listed

5 events — show timeline

• 2026-05-08 Price Changed $39,000 REALTOR® Association of the Sioux Empire
• 2026-04-27 Price Changed $43,000 REALTOR® Association of the Sioux Empire
• 2026-04-15 Price Changed $47,000 REALTOR® Association of the Sioux Empire
• 2026-04-09 Price Changed $50,000 REALTOR® Association of the Sioux Empire
• 2026-03-31 Listed $52,000 REALTOR® Association of the Sioux Empire

Property tax history

-7.4%/yr

Latest (2024): $182 · -4.4% YoY. Source: county tax records.