508 E Wye Mesa N/A · Brookings, SD 57006

$64,000

3 bd · 2.0 ba · 1,288 sqft · Manufactured public records · 98 Days on market

Built 1991 $50/sqft · 70% above area $525/mo HOA · 31% of rent ↓ 7% since listing

---

Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.9/10.0
• Livability +3.9/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

WYE not look at this mobile home? Located in the highly desirable Western Estates Mobile Home Park, 508 E Wye Mesa sits in a unique neighborhood layout that feels more like a traditional home development than a mobile home community. This 3 bedroom, 2 bath home offers over 1,200 sq. ft. of comfortable living space and a welcoming layout to enjoy. Residents appreciate the pet-friendly environment, neighborhood park area, and scenic pond nearby. You'll also love being just minutes from the bike trails, Dakota Nature Park, and the Outdoor Adventure Center, with quick and easy access to Interstate 29 for commuting. Sellers will pay first months lot rent of $675!

Key facts

• Scenic pond
• Bike trails
• Dakota nature park

Tags

• PET-FRIENDLY ENVIRONMENT
• NEIGHBORHOOD PARK AREA
• SCENIC POND
• BIKE TRAILS
• DAKOTA NATURE PARK
• OUTDOOR ADVENTURE CENTER

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $64k.

Deal economics

• At list price, monthly cash flow is $409 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $64k).
• Recommended offer: $58k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 77/100 on livability (#16 in SD, #2,914 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities D+, commute F.
• Brookings School District 05-1 (town): math 41% / reading 51% proficiency, ranked #40 of 59 in SD (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+3.2%/yr); 23 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 224 units permitted in Brookings County in 2024 (25 in 5+ unit buildings).
• This rent runs 31% of the median local income ($66k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $442 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Brookings County population projected at +40% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.2% rent growth), your $18k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 98 days — a 9% lower offer ($58k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 31% of rent.

Recommended offer $58,240 (9.0% below list)

Questions for the listing agent

1. It's been on market 98 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 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?
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: 2.67% ✓
• Cap rate: 13.97%
• Cash-on-cash: 27.42%
• DSCR: 2.22
• GRM: 3.1

CMA / ARV

• ARV (median comp): $37,684
• List price: $64,000
• Delta: 69.83%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
108 Wagon Wheel Cir	0.18mi	3/2.0	1,216 (-6%)	12mo	$38,000	$31	72

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 · 3.2% rent growth · sell at horizon

5-year hold

• IRR: 22.1%
• Equity multiple: 1.91×
• Total profit: $16,382
• Equity at exit: $9,543

10-year hold

• IRR: 30.6%
• Equity multiple: 3.82×
• Total profit: $50,607
• Equity at exit: $5,534

Cash invested: $17,920 (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 57006

• Rents YoY: 3.2%
• Active inventory: 23
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,707 high
• Mortgage (P&I): −$336
• Tax from tax record: −$51 /mo · $617/yr
• Insurance: −$27
• HOA: −$525
• Vacancy / Maint / Mgmt: −$358
• Net cashflow: $409

Break-even live

Break-even rent $1,188

Max offer price $64,000

Occupancy floor 71%

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: $16,000
• Closing costs: $1,920
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2203 Ace Ave Brookings, SD	3.0	2.5	1275	$1,596	$1.25	43d	1	0.42mi
2113 Ace Ave Brookings, SD	2.0	1.0	893	$1,645	$1.84	43d	1	0.47mi
1723 Torrey Pines Dr Brookings, SD	4.0	2.0	1800	$2,100	$1.17	43d	1	1.10mi
1802 12th St S Brookings, SD	3.0	2.5	1275	$1,452	$1.14	43d	1	1.13mi
1726 Christine Ave Brookings, SD	3.0	2.0	969	$1,670	$1.72	43d	1	1.25mi
1730 Christine Ave Brookings, SD	3.0	2.0	969	$1,670	$1.72	43d	1	1.25mi

HOA detail

• Monthly dues: $525 · $6,300/yr

Listing history 18 events

1. 2026-06-19
   days on market $64,000 Active 98 DOM
2. 2026-06-18
   days on market $64,000 Active 97 DOM
3. 2026-06-17
   days on market $64,000 Active 96 DOM
4. 2026-06-16
   days on market $64,000 Active 95 DOM
5. 2026-06-15
   days on market $64,000 Active 94 DOM
6. 2026-06-14
   days on market $64,000 Active 92 DOM
7. 2026-06-12
   days on market $64,000 Active 91 DOM
8. 2026-06-09
   days on market $64,000 Active 88 DOM
9. 2026-06-08
   days on market $64,000 Active 87 DOM
10. 2026-06-07
    days on market $64,000 Active 86 DOM
11. 2026-06-05
    days on market $64,000 Active 84 DOM
12. 2026-06-03
    days on market $64,000 Active 82 DOM
13. 2026-06-02
    days on market $64,000 Active 81 DOM
14. 2026-06-01
    days on market $64,000 Active 80 DOM
15. 2026-05-31
    days on market $64,000 Active 79 DOM
16. 2026-05-30
    days on market $64,000 Active 78 DOM
17. 2026-04-01
    price $64,000 666-char remark

    Show marketing remark (666 chars)

    WYE not look at this mobile home? Located in the highly desirable Western Estates Mobile Home Park, 508 E Wye Mesa sits in a unique neighborhood layout that feels more like a traditional home development than a mobile home community. This 3 bedroom, 2 bath home offers over 1,200 sq. ft. of comfortable living space and a welcoming layout to enjoy. Residents appreciate the pet-friendly environment, neighborhood park area, and scenic pond nearby. You'll also love being just minutes from the bike trails, Dakota Nature Park, and the Outdoor Adventure Center, with quick and easy access to Interstate 29 for commuting. Sellers will pay first months lot rent of $675!

18. 2026-02-25
    listed $68,500 Active 666-char remark

    Show marketing remark (666 chars)

    WYE not look at this mobile home? Located in the highly desirable Western Estates Mobile Home Park, 508 E Wye Mesa sits in a unique neighborhood layout that feels more like a traditional home development than a mobile home community. This 3 bedroom, 2 bath home offers over 1,200 sq. ft. of comfortable living space and a welcoming layout to enjoy. Residents appreciate the pet-friendly environment, neighborhood park area, and scenic pond nearby. You'll also love being just minutes from the bike trails, Dakota Nature Park, and the Outdoor Adventure Center, with quick and easy access to Interstate 29 for commuting. Sellers will pay first months lot rent of $675!

ⓘ 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: $617 · $51/mo
• Projected year-2 tax: $838 · $70/mo
• Expected delta: +$221/yr (+$18/mo · 35.8%)

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

Climate risk First Street

• 🌡 Heat 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,479
• − Mortgage interest: −$3,585
• − Property taxes: −$617
• − Insurance: −$320
• − Repairs & maintenance: −$1,638
• − Management: −$1,638
• − HOA: −$6,300
• − Depreciation: −$1,862
• Taxable income: $4,518
• Est. tax owed @ 24.0%: −$1,084
• After-tax cash flow: $3,829/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: Brookings School District 05-1
• NCES district ID: 4608520
• Math proficiency: 41% ▼ -4.00%
• Reading proficiency: 51% ▼ -7.00%
• Median HH income: $45,468
• Composite: 39.0/100
• National rank: #4072
• State rank: #40 of 59 in SD

Livability — Brookings

• Score: 77/100
• State rank: #16
• US rank: #2914

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Brookings, SD
• County: Brookings County · 24,192 people
• City population: 24,192
• Metro: Brookings, SD
• Population (ZIP): 24,192
• Household income: $66,337
• Rent vs Own: 48.3% rent · 51.7% own
• Severe rent burden: 812.0

Population outlook (Brookings County) Hauer SSP2

• Today (2025): 38,484 people
• By 2030: 41,482 · +7.8%
• By 2040: 47,097 · +22.4%
• By 2050: 53,759 · +39.7%
• By 2075: 74,382 · +93.3%
• By 2100: 99,351 · +158.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Asian 5% Hispanic / Latino 4% Two or more races 4% Black 2% Native American 1%
• Common ancestry: Portuguese 13% Iranian 4% Lithuanian 2%
• Foreign-born: 7% · China, Canada, South Korea
• Languages at home: 91% English-only · Spanish 3% Other Indo-European 3% Chinese 1%

Political lean MEDSL · Brookings

• 2024 margin: R (+17.4) · D 40.0% · R 57.4% · Other 2.6%
• 2008→2024 swing: -22.9pp toward R · 2008: 5.6pp · 2024: -17.4pp
• All cycles: 2024: R+17.4 2020: R+13.0 2016: R+14.7 2012: R+3.2 2008: D+5.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -117.73%
• Current HPI: 189.079
• Rent YoY: ▲ 3.20%
• Metro: Brookings, 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

-6.6% since first listed

2 events — show timeline

• 2026-04-01 Price Changed $64,000 REALTOR® Association of the Sioux Empire
• 2026-02-25 Listed $68,500 REALTOR® Association of the Sioux Empire

Property tax history

+4.8%/yr

Latest (2026): $617 · -3.2% YoY. Source: county tax records.