117 Sid St

Aten, NE 57078

$59,900B-

3 bd · 1.0 ba · 924 sqft · Built 1982 · Manufactured · Active · 106 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,073/mo
• Mortgage (P&I): −$314
• Tax + insurance: −$100
• HOA: −$0
• Vac / Maint / Mgmt: −$225
• Net cashflow: $433/mo
• Annual: $5,200/yr
• Cap rate: 14.97%
• Cash-on-cash: 31.00%
• DSCR: 2.38
• 1% rule: 1.79%
• Cash to close: $16,772

Investor read

• This is a 3-bed/1.0-bath manufactured listed at $60k.
• At list price, monthly cash flow is $433 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• It's been on market 106 days — a 9% lower offer ($55k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $55k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $414 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 46/100 on livability (#549 in NE) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: health & safety D, amenities F, commute F.
• Yankton School District 63-3 (town): math 49% / reading 60% proficiency, ranked #17 of 59 in SD (top 29%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 179 units permitted in Yankton County in 2024 (130 in 5+ unit buildings).
• Yankton County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $5k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $40k; 50% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 106 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.