605 7th Ave S · Clear Lake, SD 57226

$134,900

2 bd · 2.0 ba · 1,740 sqft · SingleFamily · 332 Days on market

Built 1900 8,712 sqft lot $78/sqft · 20% below area Est $169k · 20% 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 +17.8/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +5.6/10.0
• 1% rule +4.2/10.0
• Schools +3.7/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

PRICE REDUCED. Lots of of updates. Only two blocks from school. Ready to be your next home.

Key facts

• 8,712 sq ft lot
• Built 1900
• Listed 331 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $110 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $124k (8.0% below list).
• Recommended offer: $119k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#53 in SD) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, schools D+, amenities F.
• Deuel School District 19-4 (rural): math 39% / reading 47% proficiency, ranked #46 of 59 in SD (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 9 active listings in the ZIP; 18 units permitted in Deuel County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($933 loan paydown + $13k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 332 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 6y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $118,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 332 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 1900 — 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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.
7. 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.
8. 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: 0.92% ✗
• Cap rate: 7.27%
• Cash-on-cash: 3.50%
• DSCR: 1.16
• GRM: 9.1

CMA / ARV

• ARV (median comp): $168,821
• List price: $134,900
• Delta: -20.09%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
612 5th St W	0.08mi	3/2.0 (+1)	1,685 (-3%)	9mo	$129,900	$77	79
813 6th Ave S	0.21mi	3/2.0 (+1)	1,886 (+8%)	4mo	$250,000	$133	68
603 7th Ave S	0.01mi	3/1.0 (+1)	1,576 (-9%)	12mo	$82,500	$52	65
711 3rd Ave S	0.30mi	2/1.0	1,656 (-5%)	13mo	$159,000	$96	63
507 4th St W	0.23mi	3/2.0 (+1)	1,488 (-14%)	2mo	$149,500	$100	59
307 5th Ave S	0.25mi	2/2.0	1,970 (+13%)	12mo	$210,000	$107	56
611 4th St W	0.19mi	3/1.5 (+1)	1,503 (-14%)	7mo	$130,000	$86	56
422 11th St W	0.41mi	3/1.5 (+1)	1,960 (+13%)	6mo	$244,500	$125	48
309 10th St W	0.42mi	2/1.0	1,976 (+14%)	8mo	$130,000	$66	47
508 2nd Ave S	0.41mi	2/1.0	1,556 (-11%)	20mo	$162,500	$104	43
106 5th St E	0.48mi	3/1.0 (+1)	1,939 (+11%)	9mo	$150,000	$77	42
310 4th Ave S	0.31mi	3/1.0 (+1)	2,000 (+15%)	11mo	$195,000	$98	42

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: 26.8%
• Equity multiple: 3.13×
• Total profit: $80,467
• Equity at exit: $121,529

10-year hold

• IRR: 23.5%
• Equity multiple: 7.13×
• Total profit: $231,405
• Equity at exit: $262,081

Cash invested: $37,772 (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 57226

• Home prices YoY: 17.6%
• Active inventory: 9
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,241 medium
• Mortgage (P&I): −$707
• Tax from tax record: −$106 /mo · $1,277/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $110

Break-even live

Break-even rent $1,101

Max offer price $134,900

Occupancy floor 86%

Sensitivity live

Price	-10% $187	-5% $148	+0% $110	+5% $72	+10% $34
Rent	-10% $12	-5% $61	+0% $110	+5% $159	+10% $208
Rate	-1.0pp $178	-0.5pp $144	base $110	+0.5pp $75	+1.0pp $40

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-19
   days on market $134,900 Active 332 DOM
2. 2026-06-18
   days on market $134,900 Active 331 DOM
3. 2026-06-17
   days on market $134,900 Active 330 DOM
4. 2026-06-16
   days on market $134,900 Active 329 DOM
5. 2026-06-15
   days on market $134,900 Active 328 DOM
6. 2026-06-14
   days on market $134,900 Active 326 DOM
7. 2026-06-12
   days on market $134,900 Active 325 DOM
8. 2026-06-09
   days on market $134,900 Active 322 DOM
9. 2026-06-08
   days on market $134,900 Active 321 DOM
10. 2026-06-07
    days on market $134,900 Active 320 DOM
11. 2026-06-05
    days on market $134,900 Active 318 DOM
12. 2026-06-02
    days on market $134,900 Active 315 DOM
13. 2026-06-01
    days on market $134,900 Active 314 DOM
14. 2026-05-31
    days on market $134,900 Active 313 DOM
15. 2026-05-30
    days on market $134,900 Active 312 DOM
16. 2026-04-09
    status Active 91-char remark

    Show marketing remark (91 chars)

    PRICE REDUCED. Lots of of updates. Only two blocks from school. Ready to be your next home.

17. 2026-04-08
    status Pending 91-char remark

    Show marketing remark (91 chars)

    PRICE REDUCED. Lots of of updates. Only two blocks from school. Ready to be your next home.

18. 2025-08-29
    price $134,900 91-char remark

    Show marketing remark (91 chars)

    PRICE REDUCED. Lots of of updates. Only two blocks from school. Ready to be your next home.

19. 2025-07-21
    listed $145,000 Active 91-char remark

    Show marketing remark (91 chars)

    PRICE REDUCED. Lots of of updates. Only two blocks from school. Ready to be your next home.

20. 2025-01-15
    soldstatus $138,000 Closed 669-char remark

    Show marketing remark (669 chars)

    Seller will pay Buyer's closing costs with an accepted offer thru the end of the year. .. .don't wait. .. . get your offer in today on this affordable home! Adorable Bungalow with brand new LP Siding in the quaint town of Clear Lake has everything you need all on one level. Generous sized kitchen with new cabinets and countertops, dining area with a coffee bar, convenient laundry space with storage. Two bedrooms and two bathrooms which include a primary suite with walk-in closet and an additional space for a second closet. Built-in bench with shoe storage and hooks for your coat. New backyard patio and a 12x14 storage shed. Call for your private showing today.

21. 2024-10-14
    price $144,900 669-char remark

    Show marketing remark (669 chars)

    Seller will pay Buyer's closing costs with an accepted offer thru the end of the year. .. .don't wait. .. . get your offer in today on this affordable home! Adorable Bungalow with brand new LP Siding in the quaint town of Clear Lake has everything you need all on one level. Generous sized kitchen with new cabinets and countertops, dining area with a coffee bar, convenient laundry space with storage. Two bedrooms and two bathrooms which include a primary suite with walk-in closet and an additional space for a second closet. Built-in bench with shoe storage and hooks for your coat. New backyard patio and a 12x14 storage shed. Call for your private showing today.

22. 2024-09-13
    listed $149,900 Active 669-char remark

    Show marketing remark (669 chars)

    Seller will pay Buyer's closing costs with an accepted offer thru the end of the year. .. .don't wait. .. . get your offer in today on this affordable home! Adorable Bungalow with brand new LP Siding in the quaint town of Clear Lake has everything you need all on one level. Generous sized kitchen with new cabinets and countertops, dining area with a coffee bar, convenient laundry space with storage. Two bedrooms and two bathrooms which include a primary suite with walk-in closet and an additional space for a second closet. Built-in bench with shoe storage and hooks for your coat. New backyard patio and a 12x14 storage shed. Call for your private showing today.

23. 2023-06-27
    soldstatus $90,000
24. 2023-06-20
    soldstatus $90,000 Closed
25. 2023-04-11
    listed $99,900 Active
26. 2020-12-18
    soldstatus $50,000
27. 2020-12-10
    soldstatus $50,000
28. 2020-10-08
    listed $59,900

ⓘ 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: $1,277 · $106/mo
• Projected year-2 tax: $1,767 · $147/mo
• Expected delta: +$490/yr (+$41/mo · 38.4%)

ⓘ 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 5/10 Major
• 🌡 Heat 1/10 Low 7 d/yr ≥96°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: $14,890
• − Mortgage interest: −$7,556
• − Property taxes: −$1,277
• − Insurance: −$674
• − Repairs & maintenance: −$1,191
• − Management: −$1,191
• − Depreciation: −$3,924
• Taxable loss: −$925
• Est. tax savings @ 24.0%: +$222
• After-tax cash flow: $1,544/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: Deuel School District 19-4
• NCES district ID: 4600036
• Math proficiency: 39% ▲ 6.00%
• Reading proficiency: 47% ▲ 3.00%
• Median HH income: $51,180
• Composite: 37.06/100
• National rank: #4508
• State rank: #46 of 59 in SD

Livability — Clear Lake

• Score: 71/100
• State rank: #53
• US rank: #6735

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Clear Lake, SD
• Population (ZIP): 1,834

Population outlook (Deuel County) Hauer SSP2

• Today (2025): 4,254 people
• By 2030: 4,191 · -1.5%
• By 2040: 4,115 · -3.3%
• By 2050: 4,184 · -1.6%
• By 2075: 5,357 · +25.9%
• By 2100: 8,125 · +91.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Hispanic / Latino 3%
• Common ancestry: Portuguese 23% Iranian 4% Romanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · German/W. Germanic 1%

Political lean MEDSL · Deuel

• 2024 margin: Solid R (+51.7) · D 23.0% · R 74.7% · Other 2.3%
• 2008→2024 swing: -50.2pp toward R · 2008: -1.5pp · 2024: -51.7pp
• All cycles: 2024: R+51.7 2020: R+46.4 2016: R+38.3 2012: R+10.8 2008: R+1.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 58.33%
• Current HPI: 390.49
• 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

+125.2% since first listed

13 events — show timeline

• 2026-04-09 Relisted — NESD
• 2026-04-08 Pending — NESD
• 2025-08-29 Price Changed $134,900 NESD
• 2025-07-21 Listed $145,000 NESD
• 2025-01-15 Sold (MLS) $138,000 NESD
• 2024-10-14 Price Changed $144,900 NESD
• 2024-09-13 Listed $149,900 NESD
• 2023-06-27 Sold (Public Records) $90,000 Public Records
• 2023-06-20 Sold (MLS) $90,000 NESD
• 2023-04-11 Listed $99,900 NESD
• 2020-12-18 Sold (Public Records) $50,000 Public Records
• 2020-12-10 Sold (MLS) $50,000 NESD
• 2020-10-08 Listed $59,900 NESD

Property tax history

+6.8%/yr

Latest (2025): $1,277 · +8.1% YoY. Source: county tax records.