1202 Meadow View Rd

Yankton, SD 57078

$85,000B

3 bd · 2.0 ba · 1,248 sqft · Built 1998 · Manufactured · Pending

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,227/mo
• Mortgage (P&I): −$446
• Tax + insurance: −$69
• HOA: −$0
• Vac / Maint / Mgmt: −$258
• Net cashflow: $455/mo
• Annual: $5,455/yr
• Cap rate: 12.71%
• Cash-on-cash: 22.92%
• DSCR: 2.02
• 1% rule: 1.44%
• Cash to close: $23,800

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $85k.
• At list price, monthly cash flow is $455 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#23 in SD, #3,454 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: amenities F, commute F.
• Yankton School District 63-3 (town): math 49% / reading 60% proficiency, ranked #17 of 59 in SD (top 29%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 188 active listings in the ZIP; 179 units permitted in Yankton County in 2024 (130 in 5+ unit buildings).
• Yankton County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Current owner paid $70k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~6 years — after that, you're playing with house money.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.