221 Essex Ave E Ave E · Salem, SD 57058

$100,000

3 bd · 2.0 ba · 1,541 sqft · SingleFamily public records · 11 Days on market

Built 1938 7,425 sqft lot Est $199k · 50% under

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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 +25.6/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +8.5/10.0
• 1% rule +5.4/10.0
• Schools +4.2/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• 7,425 sq ft lot
• 2 garage spots
• Built 1938

Property features AI

Exterior

• Parking: Attached 2-car garage; Concrete parking; Heated garage with separate workshop
• Utilities: Public water; Public sewer
• Home design: Single-family ranch home; Owned land
• Construction: Wood siding; Poured foundation; Metal roof; Below-grade finished and unfinished space
• Exterior features: Front porch; 3-season porch; Irregular lot

Interior

• Kitchen: Electric range; Stove hood; Garbage disposal
• Bedrooms: 3+ bedrooms on main level
• Flooring: Wood flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air; Electric water heater
• Interior features: Formal dining room; Main floor laundry; Three or more bedrooms on the same level; Full basement
• Laundry & utility: Washer; Dryer; No water softener

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $-77 ($-923/yr) — negative.
• To cash-flow at today's rent, offer at most $86k (13.6% below list).
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $86k (13.6% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 72/100 on livability (#45 in SD) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety D-.
• Mccook Central School District 43-7 (rural): math 44% / reading 50% proficiency, ranked #87 of 148 in SD (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mccook Central Elementary - 02 (math 24% / reading 24%, grade F, #219 of 253 statewide, top 89%, 184 students, 21% FRL); Mccook Central Middle School - 03 (math 47% / reading 57%, grade C+, #46 of 143 statewide, top 37%, 96 students, 18% FRL); Mccook Central High School - 01 (math 30% / reading 50%, grade F, #114 of 151 statewide, top 81%, 128 students, 16% FRL).
• Market conditions: 33 active listings in the ZIP; 22 units permitted in McCook County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($691 loan paydown + $10k appreciation (10.0% local appreciation)).
• McCook County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $314/mo; built in 1938 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $86,411 (13.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1938 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.04% ✓
• Cap rate: 9.13%
• Cash-on-cash: 10.15%
• DSCR: 1.45
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $198,789
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
330 E Vermont Ave	0.09mi	3/1.0	1,370 (-11%)	15mo	$137,750	$101	61
331 W Franklin Ave Ave	0.41mi	2/2.0 (-1)	1,448 (-6%)	6mo	$215,000	$148	61
310 W Washington Ave Ave	0.32mi	3/2.0	1,320 (-14%)	8mo	$170,000	$129	54

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.0%
• Equity multiple: 2.78×
• Total profit: $49,708
• Equity at exit: $90,088

10-year hold

• IRR: 19.8%
• Equity multiple: 6.38×
• Total profit: $150,522
• Equity at exit: $194,278

Cash invested: $28,000 (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 57058

• Home prices YoY: 3.4%
• Active inventory: 33
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,043 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$21 /mo · $253/yr
• Insurance: −$42
• Flood insurance flood zone: −$314 /mo · $3,765/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$219
• Net cashflow: $-77

Break-even live

Break-even rent $1,140

Max offer price $86,411

Occupancy floor —

Sensitivity live

Price	-10% $-20	-5% $-49	+0% $-77	+5% $-105	+10% $-134
Rent	-10% $-159	-5% $-118	+0% $-77	+5% $-36	+10% $5
Rate	-1.0pp $-27	-0.5pp $-51	base $-77	+0.5pp $-103	+1.0pp $-129

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-01
   days on market $100,000 Active 11 DOM
2. 2026-05-31
   days on market $100,000 Active 10 DOM
3. 2026-05-21
   listed $100,000 Active

ⓘ 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: $253 · $21/mo
• Projected year-2 tax: $1,310 · $109/mo
• Expected delta: +$1,057/yr (+$88/mo · 417.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone A · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥101°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: $12,516
• − Mortgage interest: −$5,602
• − Property taxes: −$253
• − Insurance: −$4,265
• − Repairs & maintenance: −$1,001
• − Management: −$1,001
• − Depreciation: −$2,909
• Taxable loss: −$2,515
• Est. tax savings @ 24.0%: +$604
• After-tax cash flow: $-319/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: Mccook Central School District 43-7
• NCES district ID: 4601026
• Math proficiency: 44% ▲ 9.00%
• Reading proficiency: 50% ▬ 0.00%
• Median HH income: $50,476
• Composite: 42.47/100
• National rank: #6885
• State rank: #87 of 148 in SD

Livability — Salem

• Score: 72/100
• State rank: #45
• US rank: #6367

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Salem, SD
• Population (ZIP): 1,792

Population outlook (McCook County) Hauer SSP2

• Today (2025): 5,591 people
• By 2030: 5,617 · +0.5%
• By 2040: 5,771 · +3.2%
• By 2050: 5,996 · +7.2%
• By 2075: 7,870 · +40.8%
• By 2100: 11,517 · +106.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 4% Native American 3% Two or more races 3%
• Common ancestry: Iranian 10% Portuguese 6% Danish 1%
• Foreign-born: 0%
• Languages at home: 97% English-only · German/W. Germanic 2% Spanish 1%

Political lean MEDSL · McCook

• 2024 margin: Solid R (+49.3) · D 24.2% · R 73.5% · Other 2.3%
• 2008→2024 swing: -34.8pp toward R · 2008: -14.5pp · 2024: -49.3pp
• All cycles: 2024: R+49.3 2020: R+44.8 2016: R+45.3 2012: R+28.7 2008: R+14.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 10.27%
• Current HPI: 310.2326
• 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

1 event — show timeline

• 2026-05-21 Listed $100,000 REALTOR® Association of the Sioux Empire

Property tax history

-13.9%/yr

Latest (2025): $253 · -85.9% YoY. Source: county tax records.