26164 Reed Ct Ct · Canistota, SD 57012

$554,900

4 bd · 3.0 ba · 3,755 sqft · SingleFamily public records · 51 Days on market

Built 2022 0.51 ac lot $148/sqft · 41% below area Est $642k · 14% under $25/mo HOA · 2% of rent ↓ 3% since listing

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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).

• ARV discount +13.6/15.0
• Appreciation +9.8/10.0
• Schools +5.9/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Cash flow +0.9/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Key facts

• Half-acre lot
• Gas fireplace
• Vaulted ceilings

Tags

• HALF-ACRE LOT
• OPEN LIGHT-FILLED LAYOUT
• VAULTED CEILINGS
• GAS FIREPLACE
• CENTER ISLAND
• WALK-IN PANTRY

Property features AI

Finance

• HOA & community: Has HOA with road maintenance; $25 association fee

Exterior

• Parking: Attached 3-car garage (37x28) with drain, garage heater, oversized bay, and water hookups; Concrete parking
• Utilities: Rural water; Septic tank
• Home design: Single-family ranch-style home; Outside city limits
• Construction: Hard board and brick exterior; Poured foundation; Composition roof
• Exterior features: Deck; Chain link fencing; Garden area; Outside city limits

Interior

• Kitchen: Vaulted kitchen with walk-in pantry; Dishwasher; Disposal; Electric range; Microwave; Refrigerator
• Bedrooms: Main-level primary bedroom (13x14); Main-level second bedroom with double closet (11x12); Basement bedroom with walk-in closet (11x12); Basement bedroom with walk-in closet (11x12)
• Flooring: Carpet; Laminate
• Bathrooms: Two full baths; One 3/4 bath; Main level has full and 3/4 baths; basement has a full bath
• Heating & cooling: Propane heating; Central air; Electric water heater
• Interior features: Main floor laundry; Master bath with walk-in shower and walk-in closet; Vaulted ceilings; Gas fireplace in living room; Water softener (owned and stays)
• Laundry & utility: Main floor laundry/mud room; Washer/dryer hookups in garage (water hook ups noted); Humidifier

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $555k.

Deal economics

• At list price, monthly cash flow is $-2k ($-28k/yr) — negative.
• To cash-flow at today's rent, offer at most $146k (73.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $149k (73.2% below list).
• Recommended offer: $146k (73.6% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 66/100 on livability (#126 in SD) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D-, amenities F, commute F.
• Canistota School District 43-1 (rural): math 65% / reading 70% proficiency, ranked #7 of 148 in SD (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Canistota Elementary - 02 (math 74% / reading 64%, grade A-, #19 of 253 statewide, top 12%, 157 students, 24% FRL); Canistota Middle School - 03 (math 54% / reading 64%, grade B, #19 of 143 statewide, top 18%, 60 students, 27% FRL); Canistota High School - 01 (math 24% / reading 75%, grade D+, #69 of 151 statewide, top 65%, 76 students, 16% FRL) — zoned schools at 22% FRL track the district average.
• Market conditions: 18 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 $57k of equity ($4k loan paydown + $53k appreciation (9.5% local appreciation)).
• McCook County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$91k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($538k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $146,461 (73.6% 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. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 74% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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?
8. 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.
9. 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.
10. 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: 0.27% ✗
• Cap rate: 1.29%
• Cash-on-cash: -17.86%
• DSCR: 0.21
• GRM: 31.1

CMA / ARV

• ARV (median comp): $641,714
• List price: $554,900
• Delta: -13.53%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
26182 Reed Ct Ct	0.19mi	4/2.0	3,520 (-6%)	6mo	$665,000	$189	72
45218 Trystan Ct Ct	0.34mi	4/3.0	3,462 (-8%)	2mo	$686,000	$198	70

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

Projected returns pro-forma

9.54% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.8%
• Equity multiple: 1.88×
• Total profit: $137,504
• Equity at exit: $481,535

10-year hold

• IRR: 11.8%
• Equity multiple: 4.32×
• Total profit: $516,154
• Equity at exit: $1,019,510

Cash invested: $155,372 (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 57012

• Home prices YoY: 3.2%
• Active inventory: 18
• Price-to-rent: 31.1×

Monthly cashflow live

• Estimated rent: $1,488 medium
• Mortgage (P&I): −$2,910
• Tax from tax record: −$322 /mo · $3,861/yr
• Insurance: −$231
• HOA: −$25
• Vacancy / Maint / Mgmt: −$313
• Net cashflow: $-2,312

Break-even live

Break-even rent $4,415

Max offer price $146,461

Occupancy floor —

Sensitivity live

Price	-10% $-1,998	-5% $-2,155	+0% $-2,312	+5% $-2,469	+10% $-2,626
Rent	-10% $-2,430	-5% $-2,371	+0% $-2,312	+5% $-2,253	+10% $-2,195
Rate	-1.0pp $-2,033	-0.5pp $-2,171	base $-2,312	+0.5pp $-2,456	+1.0pp $-2,602

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: $138,725
• Closing costs: $16,647
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $25 · $300/yr

Listing history 21 events

1. 2026-06-21
   days on market $554,900 Active 51 DOM
2. 2026-06-21
   days on market $554,900 Active 50 DOM
3. 2026-06-18
   days on market $554,900 Active 48 DOM
4. 2026-06-17
   days on market $554,900 Active 47 DOM
5. 2026-06-16
   days on market $554,900 Active 46 DOM
6. 2026-06-15
   days on market $554,900 Active 45 DOM
7. 2026-06-13
   days on market $554,900 Active 43 DOM
8. 2026-06-12
   days on market $554,900 Active 42 DOM
9. 2026-06-09
   days on market $554,900 Active 39 DOM
10. 2026-06-08
    days on market $554,900 Active 38 DOM
11. 2026-06-08
    days on market $554,900 Active 37 DOM
12. 2026-06-05
    days on market $554,900 Active 35 DOM
13. 2026-06-04
    days on market $554,900 Active 33 DOM
14. 2026-06-02
    days on market $554,900 Active 32 DOM
15. 2026-06-01
    days on market $554,900 Active 31 DOM
16. 2026-05-31
    days on market $554,900 Active 30 DOM
17. 2026-05-17
    price $554,900 1510-char remark
18. 2026-04-30
    listed $568,000 Active 1510-char remark
19. 2026-04-20
    historical
20. 2026-04-07
    price $568,000
21. 2026-02-25
    listed $575,000 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: $3,861 · $322/mo
• Projected year-2 tax: $7,269 · $606/mo
• Expected delta: +$3,409/yr (+$284/mo · 88.3%)

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

Taxation est. · year 1

• Rental income: $17,860
• − Mortgage interest: −$31,083
• − Property taxes: −$3,861
• − Insurance: −$2,774
• − Repairs & maintenance: −$1,429
• − Management: −$1,429
• − HOA: −$300
• − Depreciation: −$16,143
• Taxable loss: −$39,158
• Est. tax savings @ 24.0%: +$9,398
• After-tax cash flow: $-18,347/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: Canistota School District 43-1
• NCES district ID: 4610320
• Math proficiency: 65% ▲ 5.00%
• Reading proficiency: 70% ▼ -10.00%
• Median HH income: $53,811
• Composite: 58.95/100
• National rank: #1971
• State rank: #7 of 148 in SD

Livability — Canistota

• Score: 66/100
• State rank: #126
• US rank: #11934

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,164

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 (88%)
• Race & ethnicity: White 88% Two or more races 6% Hispanic / Latino 5% Black 1%
• Common ancestry: Iranian 8% Portuguese 7% Serbian 3%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 2%

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: ▲ 9.54%
• Current HPI: 308.734
• 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

-3.5% since first listed

5 events — show timeline

• 2026-05-17 Price Changed $554,900 REALTOR® Association of the Sioux Empire
• 2026-04-30 Listed $568,000 REALTOR® Association of the Sioux Empire
• 2026-04-20 Listing Removed — REALTOR® Association of the Sioux Empire
• 2026-04-07 Price Changed $568,000 REALTOR® Association of the Sioux Empire
• 2026-02-25 Listed $575,000 REALTOR® Association of the Sioux Empire

Property tax history

+188.7%/yr

Latest (2025): $3,861 · -27.3% YoY. Source: county tax records.