802 S 3rd St · Milbank, SD 57252

$125,000

3 bd · 2.0 ba · 1,808 sqft · SingleFamily

Built 1958 6,969 sqft lot Est $139k · 10% under

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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 +18.1/30.0
• ARV discount +12.1/15.0
• DSCR +5.7/10.0
• 1% rule +4.9/10.0
• Schools +4.6/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• 6,969 sq ft lot
• Built 1958

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $109 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $123k (1.4% below list).
• Recommended offer: $123k (1.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 77/100 on livability (#19 in SD, #3,182 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Milbank School District 25-4 (town): math 46% / reading 61% proficiency, ranked #19 of 59 in SD (top 32%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 37 active listings in the ZIP; 22 units permitted in Grant County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Grant County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $123,207 (1.4% below list)

Questions for the listing agent

1. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 0.99% ✗
• Cap rate: 7.34%
• Cash-on-cash: 3.75%
• DSCR: 1.17
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $139,216
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
410 S 3rd St	0.28mi	3/2.0	1,842 (+2%)	0mo	$100,000	$54	84
603 S 5th St	0.21mi	3/2.0	1,904 (+5%)	1mo	$130,000	$68	81
521 S 4th St	0.18mi	2/1.0 (-1)	1,688 (-7%)	2mo	$103,500	$61	70
808 S 7th St	0.24mi	2/1.0 (-1)	1,700 (-6%)	0mo	$145,000	$85	70
801 S 5th St	0.17mi	3/1.0	1,920 (+6%)	10mo	$72,500	$38	69
912 S Main St	0.14mi	2/1.0 (-1)	1,976 (+9%)	1mo	$108,500	$55	68
517 S 2nd St	0.20mi	2/1.0 (-1)	1,608 (-11%)	2mo	$143,500	$89	62
305 W 6th Ave	0.47mi	3/2.0	1,920 (+6%)	10mo	$90,500	$47	59
1108 Vista Dr	0.32mi	2/1.0 (-1)	1,632 (-10%)	2mo	$150,000	$92	58
811 Summit St	0.41mi	4/1.0 (+1)	1,585 (-12%)	1mo	$152,000	$96	50
218 W 5th Ave	0.43mi	4/1.0 (+1)	2,043 (+13%)	2mo	$157,000	$77	48
312 N 1st St	0.72mi	4/2.0 (+1)	1,984 (+10%)	10mo	$235,000	$118	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: -10.4%
• Equity multiple: 0.62×
• Total profit: $-13,263
• Equity at exit: $18,638

10-year hold

• IRR: -1.0%
• Equity multiple: 0.93×
• Total profit: $-2,495
• Equity at exit: $10,808

Cash invested: $35,000 (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 57252

• Active inventory: 37
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,232 medium
• Mortgage (P&I): −$656
• Tax est. 1.5%: −$156 /mo · $1,875/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $109

Break-even live

Break-even rent $1,093

Max offer price $125,000

Occupancy floor 86%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-26
   historical
2. 2026-05-05
   listed $125,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 13 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: $14,785
• − Mortgage interest: −$7,002
• − Property taxes: −$1,875
• − Insurance: −$625
• − Repairs & maintenance: −$1,183
• − Management: −$1,183
• − Depreciation: −$3,636
• Taxable loss: −$719
• Est. tax savings @ 24.0%: +$173
• After-tax cash flow: $1,486/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: Milbank School District 25-4
• NCES district ID: 4600002
• Math proficiency: 46% ▲ 3.00%
• Reading proficiency: 61% ▼ -1.00%
• Median HH income: $49,055
• Composite: 45.54/100
• National rank: #2604
• State rank: #19 of 59 in SD

Livability — Milbank

• Score: 77/100
• State rank: #19
• US rank: #3182

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Milbank, SD
• Population (ZIP): 4,882

Population outlook (Grant County) Hauer SSP2

• Today (2025): 6,713 people
• By 2030: 6,458 · -3.8%
• By 2040: 5,990 · -10.8%
• By 2050: 5,667 · -15.6%
• By 2075: 5,925 · -11.7%
• By 2100: 7,228 · +7.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Hispanic / Latino 9% Two or more races 3% Native American 3%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Portuguese 17% Iranian 6% English 1%
• Foreign-born: 8% · Canada
• Languages at home: 88% English-only · Spanish 8% German/W. Germanic 3% Korean 1%

Political lean MEDSL · Grant

• 2024 margin: Solid R (+45.4) · D 26.1% · R 71.5% · Other 2.5%
• 2008→2024 swing: -41.1pp toward R · 2008: -4.3pp · 2024: -45.4pp
• All cycles: 2024: R+45.4 2020: R+41.7 2016: R+39.6 2012: R+15.0 2008: R+4.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -106.85%
• Current HPI: 160.3639
• 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

2 events — show timeline

• 2026-05-26 Delisted — NESD
• 2026-05-05 Listed $125,000 NESD