120 Franklin St · Vermillion, SD 57069

$179,900

3 bd · 1.0 ba · 1,488 sqft · Other public records · 149 Days on market

Built 1900 10,066 sqft lot $121/sqft · at area comps Est $183k · at est.

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Why this score? — see what drove the F 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 +8.3/30.0
• ARV discount +8.3/15.0
• Schools +4.3/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• DSCR +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

4 bdrms, 2 full baths ( one is new). Main floor has 2 bedrooms, second floor has 2 more, all good sized. Nice big front porch, Unfinished basement with ample ceiling height and concrete floor. Huge yard with plenty of room to build a big garage. Tenants lease goes to August 15, 2026. they may want to stay if buyer is investor. They may agree to leave early if buyer is owner/occ. Very good value.

Key facts

• Huge yard
• Big front porch
• Ample ceiling height

Tags

• BIG FRONT PORCH
• UNFINISHED BASEMENT
• AMPLE CEILING HEIGHT
• HUGE YARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $180k.

Deal economics

• At list price, monthly cash flow is $-165 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $151k (16.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $131k (27.2% below list).
• Recommended offer: $131k (27.2% below list) — sets the bar for 1% rule.
• Cap rate 5.2% vs local median 2.5% in Vermillion — 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 84/100 on livability (#5 in SD, #757 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: commute F, employment F.
• Vermillion School District 13-1 (town): math 44% / reading 61% proficiency, ranked #27 of 59 in SD (top 46%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 120 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 28 units permitted in Clay County in 2024 (10 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Clay County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 149 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $155k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $130,972 (27.2% 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 149 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-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?
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: 0.73% ✗
• Cap rate: 5.19%
• Cash-on-cash: -3.93%
• DSCR: 0.83
• GRM: 11.4

CMA / ARV

• ARV (median comp): $183,312
• List price: $179,900
• Delta: -1.86%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -22.9%
• Equity multiple: 0.21×
• Total profit: $-39,657
• Equity at exit: $26,824

10-year hold

• IRR: -17.4%
• Equity multiple: 0.05×
• Total profit: $-48,081
• Equity at exit: $15,554

Cash invested: $50,372 (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 57069

• Home prices YoY: -32.8%
• Active inventory: 120
• Price-to-rent: 11.4×

Monthly cashflow live

• Estimated rent: $1,310 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$181 /mo · $2,174/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$275
• Net cashflow: $-165

Break-even live

Break-even rent $1,518

Max offer price $150,780

Occupancy floor —

Sensitivity live

Price	-10% $-63	-5% $-114	+0% $-165	+5% $-216	+10% $-267
Rent	-10% $-268	-5% $-217	+0% $-165	+5% $-113	+10% $-61
Rate	-1.0pp $-74	-0.5pp $-119	base $-165	+0.5pp $-211	+1.0pp $-259

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
315 N Norbeck St Vermillion, SD	2.0	1.5	1100	$1,320	$1.20	44d	1	1.46mi

Listing history 22 events

1. 2026-06-19
   days on market $179,900 Active 149 DOM
2. 2026-06-18
   days on market $179,900 Active 148 DOM
3. 2026-06-17
   days on market $179,900 Active 147 DOM
4. 2026-06-16
   days on market $179,900 Active 146 DOM
5. 2026-06-15
   days on market $179,900 Active 145 DOM
6. 2026-06-14
   days on market $179,900 Active 143 DOM
7. 2026-06-12
   days on market $179,900 Active 142 DOM
8. 2026-06-09
   days on market $179,900 Active 139 DOM
9. 2026-06-08
   days on market $179,900 Active 138 DOM
10. 2026-06-07
    days on market $179,900 Active 137 DOM
11. 2026-06-05
    days on market $179,900 Active 135 DOM
12. 2026-06-04
    days on market $179,900 Active 133 DOM
13. 2026-06-02
    days on market $179,900 Active 132 DOM
14. 2026-06-01
    days on market $179,900 Active 131 DOM
15. 2026-05-31
    days on market $179,900 Active 130 DOM
16. 2026-05-31
    days on market $179,900 Active 129 DOM
17. 2026-05-08
    price $179,900 398-char remark

    Show marketing remark (398 chars)

    4 bdrms, 2 full baths ( one is new). Main floor has 2 bedrooms, second floor has 2 more, all good sized. Nice big front porch, Unfinished basement with ample ceiling height and concrete floor. Huge yard with plenty of room to build a big garage. Tenants lease goes to August 15, 2026. they may want to stay if buyer is investor. They may agree to leave early if buyer is owner/occ. Very good value.

18. 2026-01-20
    listed $189,900 Active 398-char remark

    Show marketing remark (398 chars)

    4 bdrms, 2 full baths ( one is new). Main floor has 2 bedrooms, second floor has 2 more, all good sized. Nice big front porch, Unfinished basement with ample ceiling height and concrete floor. Huge yard with plenty of room to build a big garage. Tenants lease goes to August 15, 2026. they may want to stay if buyer is investor. They may agree to leave early if buyer is owner/occ. Very good value.

19. 2023-10-31
    soldstatus $155,000 Closed 207-char remark

    Show marketing remark (207 chars)

    Large five bedroom home, updated roof, some newer windows, furnace and central air. Clean and ready to move into. Front porch and large lot. Price to sale, could be a great rental, has a good rental history.

20. 2023-10-31
    soldstatus $155,000

    Show marketing remark (207 chars)

    Large five bedroom home, updated roof, some newer windows, furnace and central air. Clean and ready to move into. Front porch and large lot. Price to sale, could be a great rental, has a good rental history.

21. 2023-08-02
    price $149,000 207-char remark

    Show marketing remark (207 chars)

    Large five bedroom home, updated roof, some newer windows, furnace and central air. Clean and ready to move into. Front porch and large lot. Price to sale, could be a great rental, has a good rental history.

22. 2023-07-11
    listed $159,000 Active 207-char remark

    Show marketing remark (207 chars)

    Large five bedroom home, updated roof, some newer windows, furnace and central air. Clean and ready to move into. Front porch and large lot. Price to sale, could be a great rental, has a good rental history.

ⓘ 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: $2,174 · $181/mo
• Projected year-2 tax: $2,357 · $196/mo
• Expected delta: +$183/yr (+$15/mo · 8.4%)

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°F today · 14 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: $15,717
• − Mortgage interest: −$10,077
• − Property taxes: −$2,174
• − Insurance: −$900
• − Repairs & maintenance: −$1,257
• − Management: −$1,257
• − Depreciation: −$5,233
• Taxable loss: −$5,182
• Est. tax savings @ 24.0%: +$1,244
• After-tax cash flow: $-734/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: Vermillion School District 13-1
• NCES district ID: 4674370
• Math proficiency: 44% ▼ -8.00%
• Reading proficiency: 61% ▼ -7.00%
• Median HH income: $36,421
• Composite: 43.49/100
• National rank: #2995
• State rank: #27 of 59 in SD

Livability — Vermillion

• Score: 84/100
• State rank: #5
• US rank: #757

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Vermillion, SD
• County: Clay County · 13,091 people
• City population: 13,091
• Metro: Vermillion, SD
• Population (ZIP): 13,091
• Household income: $53,327
• Rent vs Own: 53.8% rent · 46.2% own
• Severe rent burden: 792.0

Population outlook (Clay County) Hauer SSP2

• Today (2025): 15,009 people
• By 2030: 15,554 · +3.6%
• By 2040: 15,862 · +5.7%
• By 2050: 16,801 · +11.9%
• By 2075: 20,880 · +39.1%
• By 2100: 27,360 · +82.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Native American 5% Asian 3% Two or more races 3% Hispanic / Latino 3% Black 2%
• Common ancestry: Portuguese 9% Iranian 2% Serbian 2%
• Foreign-born: 5% · Canada, China, Vietnam
• Languages at home: 94% English-only · Chinese 1% Spanish 1% Arabic 1%

Political lean MEDSL · Clay

• 2024 margin: Lean D (+6.5) · D 52.0% · R 45.5% · Other 2.5%
• 2008→2024 swing: -17.7pp toward R · 2008: 24.2pp · 2024: 6.5pp
• All cycles: 2024: D+6.5 2020: D+11.0 2016: D+9.8 2012: D+15.5 2008: D+24.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -90.55%
• Current HPI: 185.1311
• Rent YoY: —
• Metro: Vermillion, 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

+13.1% since first listed

6 events — show timeline

• 2026-05-08 Price Changed $179,900 NWIA
• 2026-01-20 Listed $189,900 NWIA
• 2023-10-31 Sold (Public Records) $155,000 Public Records
• 2023-10-31 Sold (MLS) $155,000 NWIA
• 2023-08-02 Price Changed $149,000 NWIA
• 2023-07-11 Listed $159,000 NWIA

Property tax history

+4.2%/yr

Latest (2025): $2,174 · +8.0% YoY. Source: county tax records.