12529 Bighorn Rd · Sturgis, SD 57785

$24,900

2 bd · 2.0 ba · 1,664 sqft · SingleFamily · 114 Days on market

Built 1997 $15/sqft · 93% below area

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.3/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

1997 Schult Homes 32’ x 52’ double-wide listed by Sturgis Real Estate & Auctions with over 1,600 sq ft 2 bedroom, 2 bath, with new dishwasher and furnace, TO BE MOVED ~ incudes LP gas range, fireplace, metal roof, newer siding, metal skirting, wood floors, textured sheetrock, vinyl covered gyp, metal wainscot, wood trim and doors, new exterior doors with digital locksets, sliding patio door, ready for your vision!

Key facts

• New furnace
• Metal roof
• Newer siding

Tags

• NEW DISHWASHER
• NEW FURNACE
• LP GAS RANGE
• FIREPLACE
• METAL ROOF
• NEWER SIDING

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $25k.

Deal economics

• At list price, monthly cash flow is $718 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Recommended offer: $23k (9.0% below list) — sets the bar for market timing.
• Cap rate 40.9% vs local median 1.5% in Sturgis — 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 75/100 on livability (#25 in SD, #3,821 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: employment D+, amenities F, commute F.
• Meade School District 46-1 (rural): math 45% / reading 55% proficiency, ranked #30 of 59 in SD (top 51%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Sturgis Elementary - 03 (math 67% / reading 65%, grade B+, #37 of 253 statewide, top 15%, 552 students, 35% FRL); Sturgis Williams Middle School - 02 (math 40% / reading 54%, grade D+, #70 of 143 statewide, top 50%, 489 students, 30% FRL); Sturgis Brown High School - 01 (math 42% / reading 62%, grade D+, #65 of 151 statewide, top 43%, 842 students, 23% FRL) — zoned schools at 29% FRL track the district average.
• Market conditions: 167 active listings in the ZIP; 141 units permitted in Meade County in 2024 (25 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $172 of loan paydown is wiped out by about $747 of value loss. Plan a longer hold.
• Meade County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($23k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $10k (28%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $22,659 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 4.52% ✓
• Cap rate: 40.88%
• Cash-on-cash: 123.51%
• DSCR: 6.50
• GRM: 1.8

CMA / ARV

• ARV (median comp): $376,745
• List price: $24,900
• Delta: -93.39%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.98×
• Total profit: $41,687
• Equity at exit: $3,713

10-year hold

• IRR: —
• Equity multiple: 14.66×
• Total profit: $95,221
• Equity at exit: $2,153

Cash invested: $6,972 (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 57785

• Active inventory: 167
• Price-to-rent: 1.8×

Monthly cashflow live

• Estimated rent: $1,126 medium
• Mortgage (P&I): −$131
• Tax est. 1.5%: −$31 /mo · $374/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $718

Break-even live

Break-even rent $218

Max offer price $24,900

Occupancy floor 31%

Sensitivity live

Price	-10% $735	-5% $726	+0% $718	+5% $709	+10% $700
Rent	-10% $629	-5% $673	+0% $718	+5% $762	+10% $807
Rate	-1.0pp $730	-0.5pp $724	base $718	+0.5pp $711	+1.0pp $705

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: $6,225
• Closing costs: $747
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-21
   days on market $24,900 Active 114 DOM
2. 2026-06-19
   days on market $24,900 Active 112 DOM
3. 2026-06-18
   days on market $24,900 Active 111 DOM
4. 2026-06-17
   days on market $24,900 Active 110 DOM
5. 2026-06-16
   days on market $24,900 Active 109 DOM
6. 2026-06-15
   days on market $24,900 Active 108 DOM
7. 2026-06-14
   days on market $24,900 Active 106 DOM
8. 2026-06-13
   days on market $24,900 Active 105 DOM
9. 2026-06-10
   days on market $24,900 Active 103 DOM
10. 2026-06-09
    days on market $24,900 Active 102 DOM
11. 2026-06-08
    days on market $24,900 Active 101 DOM
12. 2026-06-07
    days on market $24,900 Active 100 DOM
13. 2026-06-05
    days on market $24,900 Active 97 DOM
14. 2026-06-03
    days on market $24,900 Active 96 DOM
15. 2026-06-02
    days on market $24,900 Active 95 DOM
16. 2026-06-01
    days on market $24,900 Active 94 DOM
17. 2026-05-31
    days on market $24,900 Active 93 DOM
18. 2026-05-30
    days on market $24,900 Active 92 DOM
19. 2026-05-05
    price $29,900 435-char remark

    Show marketing remark (435 chars)

    1997 Schult Homes 32’ x 52’ double-wide listed by Sturgis Real Estate & Auctions with over 1,600 sq ft 2 bedroom, 2 bath, with new dishwasher and furnace, TO BE MOVED ~ incudes LP gas range, fireplace, metal roof, newer siding, metal skirting, wood floors, textured sheetrock, vinyl covered gyp, metal wainscot, wood trim and doors, new exterior doors with digital locksets, sliding patio door, ready for your vision!

20. 2026-02-27
    price $34,900 435-char remark

    Show marketing remark (435 chars)

    1997 Schult Homes 32’ x 52’ double-wide listed by Sturgis Real Estate & Auctions with over 1,600 sq ft 2 bedroom, 2 bath, with new dishwasher and furnace, TO BE MOVED ~ incudes LP gas range, fireplace, metal roof, newer siding, metal skirting, wood floors, textured sheetrock, vinyl covered gyp, metal wainscot, wood trim and doors, new exterior doors with digital locksets, sliding patio door, ready for your vision!

21. 2026-02-25
    listed $34,500 Active 435-char remark

    Show marketing remark (435 chars)

    1997 Schult Homes 32’ x 52’ double-wide listed by Sturgis Real Estate & Auctions with over 1,600 sq ft 2 bedroom, 2 bath, with new dishwasher and furnace, TO BE MOVED ~ incudes LP gas range, fireplace, metal roof, newer siding, metal skirting, wood floors, textured sheetrock, vinyl covered gyp, metal wainscot, wood trim and doors, new exterior doors with digital locksets, sliding patio door, ready for your vision!

22. 2023-02-01
    soldstatus $342,500
23. 2023-01-31
    soldstatus $342,500 Closed 1040-char remark

    Show marketing remark (1040 chars)

    25.459 Acres on a well maintained county road. Lot corner survey pins are set and perimeter is fenced on 3 sides along with cross fencing. Seeded to Alfalfa and Grass on quality Class III Nunn soils. Driveway approach through the tree grove and shelter belt is off of Bighorn Rd. , Parcel has light covenants on the front half of the property. Rural Water is from Bear Butte Valley Water Assoc. with a monthly fee. The 2bed/2bath manufactured home is a 1997 Shult 32X52. The large master bedroom has an oversized bath w/ tiled shower. Features include kitchen island, appliances, fireplace, open floor plan and deck. Home is being sold in "As-Is" condition and needs some TLC and finishing inside and out. The newer open end metal building is 25'W x 35'L x 14'H w/ walk-in door, 200amp electrical service, outlets and lights. Property has great views of the surrounding areas including the Black Hills, Bear Butte, northern plains and more. Offered for sale by David Wilson - Sturgis Real Estate & Auctions, Inc. 605-490-9959

24. 2022-12-26
    historical Active Under Contract 1040-char remark

    Show marketing remark (1040 chars)

    25.459 Acres on a well maintained county road. Lot corner survey pins are set and perimeter is fenced on 3 sides along with cross fencing. Seeded to Alfalfa and Grass on quality Class III Nunn soils. Driveway approach through the tree grove and shelter belt is off of Bighorn Rd. , Parcel has light covenants on the front half of the property. Rural Water is from Bear Butte Valley Water Assoc. with a monthly fee. The 2bed/2bath manufactured home is a 1997 Shult 32X52. The large master bedroom has an oversized bath w/ tiled shower. Features include kitchen island, appliances, fireplace, open floor plan and deck. Home is being sold in "As-Is" condition and needs some TLC and finishing inside and out. The newer open end metal building is 25'W x 35'L x 14'H w/ walk-in door, 200amp electrical service, outlets and lights. Property has great views of the surrounding areas including the Black Hills, Bear Butte, northern plains and more. Offered for sale by David Wilson - Sturgis Real Estate & Auctions, Inc. 605-490-9959

25. 2022-10-06
    price $370,000 1040-char remark

    Show marketing remark (1040 chars)

    25.459 Acres on a well maintained county road. Lot corner survey pins are set and perimeter is fenced on 3 sides along with cross fencing. Seeded to Alfalfa and Grass on quality Class III Nunn soils. Driveway approach through the tree grove and shelter belt is off of Bighorn Rd. , Parcel has light covenants on the front half of the property. Rural Water is from Bear Butte Valley Water Assoc. with a monthly fee. The 2bed/2bath manufactured home is a 1997 Shult 32X52. The large master bedroom has an oversized bath w/ tiled shower. Features include kitchen island, appliances, fireplace, open floor plan and deck. Home is being sold in "As-Is" condition and needs some TLC and finishing inside and out. The newer open end metal building is 25'W x 35'L x 14'H w/ walk-in door, 200amp electrical service, outlets and lights. Property has great views of the surrounding areas including the Black Hills, Bear Butte, northern plains and more. Offered for sale by David Wilson - Sturgis Real Estate & Auctions, Inc. 605-490-9959

26. 2022-09-12
    listed $399,000 Active 1040-char remark

    Show marketing remark (1040 chars)

    25.459 Acres on a well maintained county road. Lot corner survey pins are set and perimeter is fenced on 3 sides along with cross fencing. Seeded to Alfalfa and Grass on quality Class III Nunn soils. Driveway approach through the tree grove and shelter belt is off of Bighorn Rd. , Parcel has light covenants on the front half of the property. Rural Water is from Bear Butte Valley Water Assoc. with a monthly fee. The 2bed/2bath manufactured home is a 1997 Shult 32X52. The large master bedroom has an oversized bath w/ tiled shower. Features include kitchen island, appliances, fireplace, open floor plan and deck. Home is being sold in "As-Is" condition and needs some TLC and finishing inside and out. The newer open end metal building is 25'W x 35'L x 14'H w/ walk-in door, 200amp electrical service, outlets and lights. Property has great views of the surrounding areas including the Black Hills, Bear Butte, northern plains and more. Offered for sale by David Wilson - Sturgis Real Estate & Auctions, Inc. 605-490-9959

ⓘ 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 D · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,514
• − Mortgage interest: −$1,395
• − Property taxes: −$374
• − Insurance: −$124
• − Repairs & maintenance: −$1,081
• − Management: −$1,081
• − Depreciation: −$724
• Taxable income: $8,735
• Est. tax owed @ 24.0%: −$2,096
• After-tax cash flow: $6,515/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: Meade School District 46-1
• NCES district ID: 4669930
• Math proficiency: 45% ▼ -6.00%
• Reading proficiency: 55% ▼ -3.00%
• Median HH income: $50,706
• Composite: 42.82/100
• National rank: #3139
• State rank: #30 of 59 in SD

Livability — Sturgis

• Score: 75/100
• State rank: #25
• US rank: #3821

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 10,705

Population outlook (Meade County) Hauer SSP2

• Today (2025): 31,231 people
• By 2030: 33,361 · +6.8%
• By 2040: 37,528 · +20.2%
• By 2050: 42,061 · +34.7%
• By 2075: 56,659 · +81.4%
• By 2100: 73,429 · +135.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 5% Hispanic / Latino 3% Black 1%
• Common ancestry: Portuguese 11% Lithuanian 4% Scotch-Irish 3%
• Foreign-born: 2% · China, Canada
• Languages at home: 97% English-only · Russian/Polish/Slavic 1% Spanish 1% Chinese 1%

Political lean MEDSL · Meade

• 2024 margin: Solid R (+50.9) · D 23.3% · R 74.2% · Other 2.5%
• 2008→2024 swing: -18.5pp toward R · 2008: -32.4pp · 2024: -50.9pp
• All cycles: 2024: R+50.9 2020: R+48.2 2016: R+53.5 2012: R+42.9 2008: R+32.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -176.69%
• Current HPI: 197.4942
• 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

-92.5% since first listed

8 events — show timeline

• 2026-05-05 Price Changed $29,900 MRAOR
• 2026-02-27 Price Changed $34,900 MRAOR
• 2026-02-25 Listed $34,500 MRAOR
• 2023-02-01 Sold (Public Records) $342,500 Public Records
• 2023-01-31 Sold (MLS) $342,500 MRAOR
• 2022-12-26 Contingent — MRAOR
• 2022-10-06 Price Changed $370,000 MRAOR
• 2022-09-12 Listed $399,000 MRAOR

Property tax history

+13.6%/yr

Latest (2024): $2,269 · -10.8% YoY. Source: county tax records.