902 S 3rd St · Aberdeen, SD 57401

$119,000

3 bd · 1.0 ba · 1,018 sqft · SingleFamily public records · 13 Days on market

Built 1906 2,996 sqft lot Est $179k · 34% under

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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 +21.7/30.0
• ARV discount +15.0/15.0
• DSCR +6.9/10.0
• 1% rule +5.3/10.0
• Schools +4.2/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home has been owned by the same family for 60 years! Nice living/dining space on main floor. .. just move in and start enjoying

Key facts

• 2,996 sq ft lot
• Garage
• Built 1906

Property features AI

Exterior

• Parking: Attached garage with 1 garage space
• Utilities: Public water; Public sewer
• Home design: Residential property; One and one-half stories
• Construction: Block and stone foundation
• Exterior features: Composition roof; Lot dimensions approximately 53.5 x 56

Interior

• Kitchen: Range
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Partial basement; Seven total rooms
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $119k.

Deal economics

• At list price, monthly cash flow is $182 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $119k).
• Cap rate 8.1% vs local median 2.9% in Aberdeen — 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 81/100 on livability (#7 in SD, #1,411 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute F.
• Aberdeen School District 06-1 (town): math 45% / reading 54% proficiency, ranked #33 of 59 in SD (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 174 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 86 units permitted in Brown County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $823 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Brown County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 11y ago 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.
• Current owner paid $45k; list at $119k implies a 164% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1906 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $119,000

Questions for the listing agent

1. Built in 1906 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.03% ✓
• Cap rate: 8.13%
• Cash-on-cash: 6.57%
• DSCR: 1.29
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $179,168
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
322 SW 9th Ave	0.05mi	3/2.0	936 (-8%)	1mo	$132,500	$142	79
115 SW 8th Ave	0.13mi	3/2.0	952 (-6%)	5mo	$65,000	$68	75
317 SW 6th Ave	0.20mi	3/1.0	1,138 (+12%)	1mo	$200,000	$176	70
207 SE 7th Ave	0.42mi	3/2.0	1,092 (+7%)	1mo	$229,000	$210	63
209 SE 10th Ave	0.40mi	3/2.0	1,080 (+6%)	5mo	$115,000	$106	63
1213 S 2nd St	0.27mi	3/2.0	1,147 (+13%)	3mo	$175,000	$153	60
324 S 9th St	0.56mi	3/2.0	936 (-8%)	2mo	$152,000	$162	55
1219 SW 8th Ave	0.67mi	4/2.0 (+1)	1,008 (-1%)	5mo	$230,000	$228	54
422 SE 8th Ave	0.57mi	3/2.0	925 (-9%)	3mo	$89,000	$96	52
1110 Plum Ln	0.68mi	4/2.0 (+1)	1,040 (+2%)	6mo	$295,000	$284	51
901 SW 13th Ave	0.50mi	4/3.0 (+1)	1,140 (+12%)	1mo	$355,000	$311	42
615 S 11th St	0.56mi	4/2.0 (+1)	876 (-14%)	1mo	$195,000	$223	41

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: -6.2%
• Equity multiple: 0.77×
• Total profit: $-7,670
• Equity at exit: $17,743

10-year hold

• IRR: 3.4%
• Equity multiple: 1.25×
• Total profit: $8,258
• Equity at exit: $10,289

Cash invested: $33,320 (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 57401

• Active inventory: 174
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,222 medium
• Mortgage (P&I): −$624
• Tax from tax record: −$109 /mo · $1,309/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $182

Break-even live

Break-even rent $991

Max offer price $119,000

Occupancy floor 80%

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1116 S Main St Aberdeen, SD	2.0	1.0	930	$1,020	$1.10	44d	1	0.27mi
928 S 9th St Aberdeen, SD	2.0	1.0	818	$1,500	$1.83	44d	1	0.41mi

Listing history 15 events

1. 2026-06-09
   days on market $119,000 Active 13 DOM
2. 2026-06-08
   days on market $119,000 Active 12 DOM
3. 2026-06-07
   days on market $119,000 Active 11 DOM
4. 2026-06-05
   days on market $119,000 Active 8 DOM
5. 2026-06-03
   days on market $119,000 Active 7 DOM
6. 2026-06-02
   days on market $119,000 Active 6 DOM
7. 2026-06-01
   days on market $119,000 Active 5 DOM
8. 2026-05-31
   days on market $119,000 Active 4 DOM
9. 2026-05-30
   days on market $119,000 Active 3 DOM
10. 2026-05-27
    listed $119,000 Active
11. 2025-10-14
    price $119,000
12. 2025-08-21
    price $124,900
13. 2025-07-07
    price $129,900
14. 2015-03-23
    soldstatus $45,000 132-char remark

    Show marketing remark (132 chars)

    This home has been owned by the same family for 60 years! Nice living/dining space on main floor. .. just move in and start enjoying

15. 2015-02-03
    listed $45,000 132-char remark

    Show marketing remark (132 chars)

    This home has been owned by the same family for 60 years! Nice living/dining space on main floor. .. just move in and start enjoying

ⓘ 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: $1,309 · $109/mo
• Projected year-2 tax: $1,559 · $130/mo
• Expected delta: +$249/yr (+$21/mo · 19.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°F today · 13 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: $14,661
• − Mortgage interest: −$6,666
• − Property taxes: −$1,309
• − Insurance: −$595
• − Repairs & maintenance: −$1,173
• − Management: −$1,173
• − Depreciation: −$3,462
• Taxable income: $283
• Est. tax owed @ 24.0%: −$68
• After-tax cash flow: $2,121/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: Aberdeen School District 06-1
• NCES district ID: 4602070
• Math proficiency: 45% ▼ -5.00%
• Reading proficiency: 54% ▼ -4.00%
• Median HH income: $49,230
• Composite: 42.27/100
• National rank: #3273
• State rank: #33 of 59 in SD

Livability — Aberdeen

• Score: 81/100
• State rank: #7
• US rank: #1411

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Aberdeen, SD
• County: Brown County · 31,939 people
• City population: 31,939
• Metro: Aberdeen, SD
• Population (ZIP): 31,939
• Household income: $68,835
• Rent vs Own: 35.3% rent · 64.7% own
• Severe rent burden: 1220.0

Population outlook (Brown County) Hauer SSP2

• Today (2025): 43,830 people
• By 2030: 46,663 · +6.5%
• By 2040: 52,852 · +20.6%
• By 2050: 59,898 · +36.7%
• By 2075: 82,750 · +88.8%
• By 2100: 112,639 · +157.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Two or more races 6% Native American 5% Hispanic / Latino 5% Asian 3%
• Common ancestry: Portuguese 12% Scotch-Irish 3% Lithuanian 2%
• Foreign-born: 4% · Canada, South Korea, Philippines
• Languages at home: 93% English-only · Spanish 3% Other Asian/Pacific 1% German/W. Germanic 1%

Political lean MEDSL · Brown

• 2024 margin: Strong R (+26.8) · D 35.6% · R 62.5% · Other 1.9%
• 2008→2024 swing: -32.4pp toward R · 2008: 5.6pp · 2024: -26.8pp
• All cycles: 2024: R+26.8 2020: R+23.0 2016: R+25.8 2012: R+6.7 2008: D+5.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -224.77%
• Current HPI: 185.713
• Rent YoY: —
• Metro: Aberdeen, 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

+164.4% since first listed

6 events — show timeline

• 2026-05-27 Listed $119,000 ABOR
• 2025-10-14 Price Changed $119,000 ABOR
• 2025-08-21 Price Changed $124,900 ABOR
• 2025-07-07 Price Changed $129,900 ABOR
• 2015-03-23 Sold (MLS) $45,000 ABOR
• 2015-02-03 Listed $45,000 ABOR

Property tax history

+11.4%/yr

Latest (2025): $1,309 · +7.5% YoY. Source: county tax records.