2014 11th Ave SW · Watertown, SD 57201

$89,900

3 bd · 2.0 ba · 1,120 sqft · SingleFamily · 186 Days on market

Built 1995 $80/sqft · 20% above area Est $75k · 20% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.9/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

This beautiful well maintained home is move in ready! With a spacious primary bedroom with a walk in closet, vaulted ceilings in the living room, and a large eat-in kitchen, this house is ready for new owners! Subject to buyer's being accepted to mobile home park.

Key facts

• Built 1995
• Listed 185 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $531 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.4% vs local median 2.3% in Watertown — 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 78/100 on livability (#11 in SD, #2,681 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute F.
• Watertown School District 14-4 (town): math 45% / reading 57% proficiency, ranked #28 of 59 in SD (top 48%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 228 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 160 units permitted in Codington County in 2024 (63 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Codington County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 186 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y ago; this cycle's ask has dropped $5k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $79,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 186 days. Have you received any prior offers? Is the seller open to a 12% 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. 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?
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: 1.49% ✓
• Cap rate: 13.39%
• Cash-on-cash: 25.33%
• DSCR: 2.13
• GRM: 5.6

CMA / ARV

• ARV (median comp): $75,082
• List price: $89,900
• Delta: 19.74%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2017 11th Ave SW	0.05mi	3/2.0	1,152 (+3%)	1mo	$68,000	$59	92
2022 10th Ave SW	0.07mi	3/2.0	1,200 (+7%)	1mo	$78,000	$65	84
2202 10th Ave SW	0.17mi	3/2.0	1,232 (+10%)	9mo	$99,900	$81	68
1106 25th St SW	0.42mi	2/1.0 (-1)	1,080 (-4%)	16mo	$239,000	$221	52
1305 13th Ave SW	0.49mi	3/2.0	1,280 (+14%)	5mo	$37,000	$29	49

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: 18.8%
• Equity multiple: 1.76×
• Total profit: $19,239
• Equity at exit: $13,404

10-year hold

• IRR: 27.2%
• Equity multiple: 3.39×
• Total profit: $60,179
• Equity at exit: $7,773

Cash invested: $25,172 (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 57201

• Active inventory: 228
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,340 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$18 /mo · $220/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$281
• Net cashflow: $531

Break-even live

Break-even rent $667

Max offer price $89,900

Occupancy floor 55%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
22 8th Ave SW Watertown, SD	2.0	1.0	830	$1,200	$1.45	43d	1	1.32mi

Listing history 26 events

1. 2026-06-19
   days on market $89,900 Active 186 DOM
2. 2026-06-18
   days on market $89,900 Active 185 DOM
3. 2026-06-17
   days on market $89,900 Active 184 DOM
4. 2026-06-16
   days on market $89,900 Active 183 DOM
5. 2026-06-15
   days on market $89,900 Active 182 DOM
6. 2026-06-14
   days on market $89,900 Active 180 DOM
7. 2026-06-12
   days on market $89,900 Active 179 DOM
8. 2026-06-09
   days on market $89,900 Active 176 DOM
9. 2026-06-08
   days on market $89,900 Active 175 DOM
10. 2026-06-07
    days on market $89,900 Active 174 DOM
11. 2026-06-05
    days on market $89,900 Active 172 DOM
12. 2026-06-03
    days on market $89,900 Active 170 DOM
13. 2026-06-02
    days on market $89,900 Active 169 DOM
14. 2026-06-01
    days on market $89,900 Active 168 DOM
15. 2026-05-31
    days on market $89,900 Active 167 DOM
16. 2026-05-30
    days on market $89,900 Active 166 DOM
17. 2026-04-01
    price $89,900 265-char remark

    Show marketing remark (265 chars)

    This beautiful well maintained home is move in ready! With a spacious primary bedroom with a walk in closet, vaulted ceilings in the living room, and a large eat-in kitchen, this house is ready for new owners! Subject to buyer's being accepted to mobile home park.

18. 2025-12-15
    listed $95,000 Active 265-char remark

    Show marketing remark (265 chars)

    This beautiful well maintained home is move in ready! With a spacious primary bedroom with a walk in closet, vaulted ceilings in the living room, and a large eat-in kitchen, this house is ready for new owners! Subject to buyer's being accepted to mobile home park.

19. 2024-05-20
    soldstatus $85,000 Closed 1830-char remark

    Show marketing remark (1830 chars)

    Convenient, affordable & glamourous all wrapped up in one adorable home. This must see remodeled inside and out home offers 3 bedrooms, large, vaulted ceiling great room as you enter and an eat-in kitchen, The ample sized main bedroom has a walk-in closet, an ensuite bathroom and luxurious style. With 2 more bedrooms on the opposite end of the house, a laundry room and another bathroom, this home is meticulously maintained and has everything you need. Sits on a huge lot with a nearby playground; enjoy morning coffee or cool evenings on the east deck. This is a lovely, quiet park, with very affordable lot rent. Off street parking is available for 2 vehicles. Improvements continued. .. .. Exterior: Replaced exterior siding where needed 2021 Added railings to back and front steps 2021 House painted in 2022 New exterior light fixtures 2022 All new steel skirting with 1.5 inches of insulation 2022 Resided shed, built new doors, all new shingles, painted 2022 Replaced shingles where needed and all new ridge-cap 2022 Added landscaping rock around home 2022 Treated lawn 2022 and 2023 with ChemLawn Interior: Improved appearance of marriage beam 2021 Kitchen, living room, office, guest bath and main bedroom painted 2021 New Luxury Vinyl Plank flooring living room and guest room 2021 New carpet in main bedroom 2021 Added baseboards 2021 New window blinds kitchen, living room, guest room 2022 Main bathroom painted 2022 Laundry and guest room painted in 2023 New flooring in laundry room 2023 All trim, doors and baseboards painted 2023 Dishwasher serviced 2023, no issues New ceiling fans both bedrooms, living room and kitchen New light fixtures office and kitchen Some furnishings/decor available for purchase on separate bill of sale. Acrylic light fixture in main bathroom and metal gazebo do not convey.

20. 2024-05-20
    soldstatus $85,000

    Show marketing remark (1830 chars)

    Convenient, affordable & glamourous all wrapped up in one adorable home. This must see remodeled inside and out home offers 3 bedrooms, large, vaulted ceiling great room as you enter and an eat-in kitchen, The ample sized main bedroom has a walk-in closet, an ensuite bathroom and luxurious style. With 2 more bedrooms on the opposite end of the house, a laundry room and another bathroom, this home is meticulously maintained and has everything you need. Sits on a huge lot with a nearby playground; enjoy morning coffee or cool evenings on the east deck. This is a lovely, quiet park, with very affordable lot rent. Off street parking is available for 2 vehicles. Improvements continued. .. .. Exterior: Replaced exterior siding where needed 2021 Added railings to back and front steps 2021 House painted in 2022 New exterior light fixtures 2022 All new steel skirting with 1.5 inches of insulation 2022 Resided shed, built new doors, all new shingles, painted 2022 Replaced shingles where needed and all new ridge-cap 2022 Added landscaping rock around home 2022 Treated lawn 2022 and 2023 with ChemLawn Interior: Improved appearance of marriage beam 2021 Kitchen, living room, office, guest bath and main bedroom painted 2021 New Luxury Vinyl Plank flooring living room and guest room 2021 New carpet in main bedroom 2021 Added baseboards 2021 New window blinds kitchen, living room, guest room 2022 Main bathroom painted 2022 Laundry and guest room painted in 2023 New flooring in laundry room 2023 All trim, doors and baseboards painted 2023 Dishwasher serviced 2023, no issues New ceiling fans both bedrooms, living room and kitchen New light fixtures office and kitchen Some furnishings/decor available for purchase on separate bill of sale. Acrylic light fixture in main bathroom and metal gazebo do not convey.

21. 2024-02-29
    listed $89,900 Active 1830-char remark

    Show marketing remark (1830 chars)

    Convenient, affordable & glamourous all wrapped up in one adorable home. This must see remodeled inside and out home offers 3 bedrooms, large, vaulted ceiling great room as you enter and an eat-in kitchen, The ample sized main bedroom has a walk-in closet, an ensuite bathroom and luxurious style. With 2 more bedrooms on the opposite end of the house, a laundry room and another bathroom, this home is meticulously maintained and has everything you need. Sits on a huge lot with a nearby playground; enjoy morning coffee or cool evenings on the east deck. This is a lovely, quiet park, with very affordable lot rent. Off street parking is available for 2 vehicles. Improvements continued. .. .. Exterior: Replaced exterior siding where needed 2021 Added railings to back and front steps 2021 House painted in 2022 New exterior light fixtures 2022 All new steel skirting with 1.5 inches of insulation 2022 Resided shed, built new doors, all new shingles, painted 2022 Replaced shingles where needed and all new ridge-cap 2022 Added landscaping rock around home 2022 Treated lawn 2022 and 2023 with ChemLawn Interior: Improved appearance of marriage beam 2021 Kitchen, living room, office, guest bath and main bedroom painted 2021 New Luxury Vinyl Plank flooring living room and guest room 2021 New carpet in main bedroom 2021 Added baseboards 2021 New window blinds kitchen, living room, guest room 2022 Main bathroom painted 2022 Laundry and guest room painted in 2023 New flooring in laundry room 2023 All trim, doors and baseboards painted 2023 Dishwasher serviced 2023, no issues New ceiling fans both bedrooms, living room and kitchen New light fixtures office and kitchen Some furnishings/decor available for purchase on separate bill of sale. Acrylic light fixture in main bathroom and metal gazebo do not convey.

22. 2021-07-01
    soldstatus $43,000
23. 2021-05-20
    soldstatus $43,000
24. 2021-04-08
    listed $49,900
25. 2014-12-15
    soldstatus $31,000
26. 2014-10-08
    listed $32,000

ⓘ 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: $220 · $18/mo
• Projected year-2 tax: $1,178 · $98/mo
• Expected delta: +$957/yr (+$80/mo · 434.6%)

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

Climate risk First Street

• 🌡 Heat 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,081
• − Mortgage interest: −$5,036
• − Property taxes: −$220
• − Insurance: −$450
• − Repairs & maintenance: −$1,286
• − Management: −$1,286
• − Depreciation: −$2,615
• Taxable income: $5,187
• Est. tax owed @ 24.0%: −$1,245
• After-tax cash flow: $5,132/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: Watertown School District 14-4
• NCES district ID: 4676620
• Math proficiency: 45% ▼ -10.00%
• Reading proficiency: 57% ▼ -7.00%
• Median HH income: $46,575
• Composite: 43.24/100
• National rank: #3057
• State rank: #28 of 59 in SD

Livability — Watertown

• Score: 78/100
• State rank: #11
• US rank: #2681

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Watertown, SD
• County: Codington County · 26,781 people
• City population: 26,781
• Metro: Watertown, SD
• Population (ZIP): 26,781
• Household income: $72,878
• Rent vs Own: 31.5% rent · 68.5% own
• Severe rent burden: 613.0

Population outlook (Codington County) Hauer SSP2

• Today (2025): 29,752 people
• By 2030: 30,627 · +2.9%
• By 2040: 32,285 · +8.5%
• By 2050: 33,812 · +13.6%
• By 2075: 39,184 · +31.7%
• By 2100: 46,673 · +56.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 5% Hispanic / Latino 3% Native American 2%
• Common ancestry: Portuguese 15% Romanian 3% Iranian 3%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Codington

• 2024 margin: Solid R (+40.8) · D 28.4% · R 69.2% · Other 2.4%
• 2008→2024 swing: -34.4pp toward R · 2008: -6.4pp · 2024: -40.8pp
• All cycles: 2024: R+40.8 2020: R+38.9 2016: R+39.3 2012: R+18.3 2008: R+6.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -161.04%
• Current HPI: 165.8449
• Rent YoY: —
• Metro: Watertown, 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

+180.9% since first listed

10 events — show timeline

• 2026-04-01 Price Changed $89,900 NESD
• 2025-12-15 Listed $95,000 NESD
• 2024-05-20 Sold (Public Records) $85,000 Public Records
• 2024-05-20 Sold (MLS) $85,000 NESD
• 2024-02-29 Listed $89,900 NESD
• 2021-07-01 Sold (Public Records) $43,000 Public Records
• 2021-05-20 Sold (MLS) $43,000 NESD
• 2021-04-08 Listed $49,900 NESD
• 2014-12-15 Sold (MLS) $31,000 NESD
• 2014-10-08 Listed $32,000 NESD

Property tax history

-1.6%/yr

Latest (2025): $220 · +2.8% YoY. Source: county tax records.