416 E 6th St · Miller, SD 57362

$72,500

3 bd · 1.0 ba · 849 sqft · SingleFamily public records · 187 Days on market

Built 1883 Est $142k · 49% under ↓ 9% since listing

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Why this score? — see what drove the A- 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 +29.5/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• Appreciation +6.9/10.0
• Schools +4.4/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• New kitchen
• New plumbing
• New floor coverings

Tags

• NEW KITCHEN
• NEW FLOOR COVERINGS
• NEW WINDOWS
• NEW ROOF
• NEW ELECTRICAL
• NEW PLUMBING

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $72k.

Deal economics

• At list price, monthly cash flow is $259 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($962 rent vs $72k).
• Recommended offer: $64k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 72/100 on livability (#43 in SD) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, health & safety C-, amenities F.
• Miller 29-4 (rural): math 46% / reading 57% proficiency, ranked #25 of 59 in SD (top 42%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 16 active listings in the ZIP; 9 units permitted in Hand County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($501 loan paydown + $3k appreciation (3.9% local appreciation)).
• Hand County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.9% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 187 days — a 12% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $7k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1883 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $63,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 187 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1883 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.33% ✓
• Cap rate: 10.59%
• Cash-on-cash: 15.33%
• DSCR: 1.68
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $141,783
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
107 E 4th Ave Ave	0.38mi	2/1.0 (-1)	768 (-10%)	8mo	$128,000	$167	54

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

Projected returns pro-forma

3.88% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.8%
• Equity multiple: 2.41×
• Total profit: $28,686
• Equity at exit: $36,238

10-year hold

• IRR: 23.9%
• Equity multiple: 4.69×
• Total profit: $74,929
• Equity at exit: $58,859

Cash invested: $20,300 (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 57362

• Home prices YoY: 2.7%
• Active inventory: 16
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $962 medium
• Mortgage (P&I): −$380
• Tax est. 1.5%: −$91 /mo · $1,088/yr
• Insurance: −$30
• HOA: −$0
• Vacancy / Maint / Mgmt: −$202
• Net cashflow: $259

Break-even live

Break-even rent $634

Max offer price $72,500

Occupancy floor 68%

Sensitivity live

Price	-10% $309	-5% $284	+0% $259	+5% $234	+10% $209
Rent	-10% $183	-5% $221	+0% $259	+5% $297	+10% $335
Rate	-1.0pp $296	-0.5pp $278	base $259	+0.5pp $241	+1.0pp $221

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: $18,125
• Closing costs: $2,175
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2025-09-24
   status Pending
2. 2025-08-01
   status Active
3. 2025-07-09
   status Pending
4. 2025-06-17
   price $72,500
5. 2025-06-17
   price $73,500
6. 2025-02-25
   listed $79,500 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $11,550
• − Mortgage interest: −$4,061
• − Property taxes: −$1,088
• − Insurance: −$362
• − Repairs & maintenance: −$924
• − Management: −$924
• − Depreciation: −$2,109
• Taxable income: $2,082
• Est. tax owed @ 24.0%: −$500
• After-tax cash flow: $2,612/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: Miller 29-4
• NCES district ID: 4647942
• Math proficiency: 46% ▲ 3.00%
• Reading proficiency: 57% ▬ 0.00%
• Median HH income: $45,771
• Composite: 43.58/100
• National rank: #2978
• State rank: #25 of 59 in SD

Livability — Miller

• Score: 72/100
• State rank: #43
• US rank: #6023

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Miller, SD
• Population (ZIP): 1,940

Population outlook (Hand County) Hauer SSP2

• Today (2025): 3,149 people
• By 2030: 3,052 · -3.1%
• By 2040: 2,871 · -8.8%
• By 2050: 2,744 · -12.9%
• By 2075: 2,823 · -10.4%
• By 2100: 3,275 · +4.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 1%
• Common ancestry: Iranian 7% Portuguese 6% Polish 4%
• Foreign-born: 1% · China, Canada
• Languages at home: 95% English-only · German/W. Germanic 3% Chinese 1% Spanish 1%

Political lean MEDSL · Hand

• 2024 margin: Solid R (+57.3) · D 20.7% · R 78.0% · Other 1.3%
• 2008→2024 swing: -31.0pp toward R · 2008: -26.3pp · 2024: -57.3pp
• All cycles: 2024: R+57.3 2020: R+57.7 2016: R+58.1 2012: R+36.1 2008: R+26.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.88%
• Current HPI: 148.2615
• 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

-8.8% since first listed

6 events — show timeline

• 2025-09-24 Pending — HBOR
• 2025-08-01 Relisted — HBOR
• 2025-07-09 Pending — HBOR
• 2025-06-17 Price Changed $72,500 HBOR
• 2025-06-17 Price Changed $73,500 HBOR
• 2025-02-25 Listed $79,500 HBOR