3708 S Terry Ave Ave #110 · Sioux Falls, SD 57106

$95,000

2 bd · 1.0 ba · 768 sqft · Condo · 43 Days on market

Built 1977 Good condition $124/sqft · 15% below area Est $112k · 15% under $387/mo HOA · 35% of rent ↓ 14% since listing

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Why this score? — see what drove the D 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).

• ARV discount +14.4/15.0
• 1% rule +6.5/10.0
• Cash flow +6.0/30.0
• Livability +4.2/5.0
• Condition / age +4.0/5.0
• Schools +3.7/10.0
• Rent growth +3.0/5.0
• DSCR +0.4/10.0
• Appreciation +0.0/10.0

Key facts

• New flooring
• New bathroom vanity
• New countertops

Tags

• STAINLESS STEEL APPLIANCES
• NEW FLOORING
• NEW COUNTERTOPS
• NEW BATHROOM VANITY
• UPDATED LIGHTING
• MODERN CANNED CEILING LIGHTING

Property features AI

Finance

• Financial info: Annual property tax available
• HOA & community: Homeowners association with amenities including pool, trash service, snow removal, grounds and structure maintenance, and water; HOA fee applies

Exterior

• Parking: Detached garage (1 car), approximately 12x24
• Utilities: Public water; Public sewer
• Home design: Condominium (ranch style); Lower level unit
• Construction: Brick construction; Tar and gravel roof; Other foundation
• Exterior features: City lot; Public maintained road; Lot ownership: owned

Interior

• Kitchen: Electric range; Microwave; Dishwasher; Refrigerator
• Bedrooms: Total of 4 rooms (includes bedrooms and living spaces)
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom on main level
• Heating & cooling: Baseboard heating; Central air conditioning
• Interior features: Main level finished living area; No basement
• Laundry & utility: Electric water heater; No water softener

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $95k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-180 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $69k (27.5% below list).
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $69k (27.5% below list) — sets the bar for cash-flow.
• Cap rate 4.0% vs local median 2.6% in Sioux Falls — 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 85/100 on livability (#3 in SD, #610 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F.
• Sioux Falls School District 49-5 (urban): math 39% / reading 48% proficiency, ranked #45 of 59 in SD (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Oscar Howe Elementary - 58 (math 49% / reading 48%, grade D, #132 of 253 statewide, top 52%, 586 students, 42% FRL); Roosevelt High School - 03 (math 40% / reading 60%, grade D+, #67 of 151 statewide, top 45%, 1,713 students, 28% FRL) — zoned schools at 35% FRL track the district average.
• Market conditions: Rents rising (+2.2%/yr); 393 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,425 units permitted in Minnehaha County in 2024 (1,367 in 5+ unit buildings).
• This rent is only 17% of the median local income ($78k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $657 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Minnehaha County population projected at +46% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($92k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 35% of rent.

Recommended offer $68,895 (27.5% 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 43 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 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. 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?
10. 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.
11. 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.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.15% ✓
• Cap rate: 4.01%
• Cash-on-cash: -8.14%
• DSCR: 0.64
• GRM: 7.2

CMA / ARV

• ARV (median comp): $112,284
• List price: $95,000
• Delta: -15.39%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.18% rent growth · sell at horizon

5-year hold

• IRR: -31.8%
• Equity multiple: -0.03×
• Total profit: $-27,524
• Equity at exit: $14,165

10-year hold

• IRR: -42.5%
• Equity multiple: -0.55×
• Total profit: $-41,339
• Equity at exit: $8,214

Cash invested: $26,600 (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 57106

• Rents YoY: 2.2%
• Active inventory: 393
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,093 high
• Mortgage (P&I): −$498
• Tax est. 1.5%: −$119 /mo · $1,425/yr
• Insurance: −$40
• HOA: −$387
• Vacancy / Maint / Mgmt: −$229
• Net cashflow: $-180

Break-even live

Break-even rent $1,321

Max offer price $68,895

Occupancy floor —

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3712 S Terry Ave Sioux Falls, SD	2.0	1.0	768	$1,250	$1.63	21d	1	0.07mi
3552 S Gateway Blvd #102 Sioux Falls, SD	2.0	1.0	816	$1,400	$1.72	21d	1	0.11mi
4908 W Kirkwood Cir Sioux Falls, SD	2.0	1.0	750	$749	$1.00	21d	1	0.12mi
3511 S Gateway Blvd Sioux Falls, SD	1.0	1.0	600	$800	$1.33	21d	2	0.14mi
3804 S Cathy Ave Sioux Falls, SD	1.0	1.0	800	$875	$1.09	43d	1	0.15mi
5005 W Heritage Pl Unit 7 Sioux Falls, SD	2.0	1.0	900	$825	$0.92	43d	1	0.15mi
3705 S Cathy Ave Sioux Falls, SD	2.0	1.0	821	$875	$1.07	21d	1	0.20mi
3901 S Cathy Ave Sioux Falls, SD	2.0	1.5	1100	$888	$0.81	21d	2	0.21mi
3600 S Cathy Ave Apt 2 Sioux Falls, SD	2.0	1.0	850	$825	$0.97	43d	1	0.22mi
3609 S Cathy Ave Unit 10 Sioux Falls, SD	2.0	1.5	994	$795	$0.80	43d	1	0.23mi
3012 S Mayfair Dr Sioux Falls, SD	2.0	1.0	800	$787	$0.98	43d	1	0.49mi
4605 W Chippewa Cir Sioux Falls, SD	1.0–2.0	1.0–2.0	1090	$1,132	$1.04	13d	16	0.51mi
4401 W Valhalla Blvd Sioux Falls, SD	1.0–3.0	1.0–2.0	811	$978	$1.21	13d	33	0.52mi
4100 W Valhalla Blvd Sioux Falls, SD	1.0–3.0	1.0–2.0	843	$942	$1.12	13d	17	0.54mi
3215 S Westbrooke Ln Sioux Falls, SD	1.0–2.0	1.0	900	$1,018	$1.13	13d	10	0.60mi
4901 S Marion Rd Apt 4 Sioux Falls, SD	2.0	1.0	1040	$850	$0.82	43d	1	0.70mi
5401 56th St Apt 32 Sioux Falls, SD	2.0	1.0	1040	$900	$0.87	43d	1	0.71mi
6000 W 43rd St Sioux Falls, SD	1.0–2.0	1.0–2.0	910	$1,005	$1.10	13d	2	0.80mi
4400 S Louise Ave Sioux Falls, SD	2.0–3.0	1.0	965	$902	$0.93	43d	1	0.88mi
5107 S Marion Rd Sioux Falls, SD	1.0–3.0	1.0–2.0	1050	$1,142	$1.09	13d	4	0.90mi
2900 S Louise Ave Unit 2900-207 Sioux Falls, SD	2.0	1.0	913	$1,025	$1.12	13d	1	0.92mi
2900 S Louise Ave Unit 3008-202 Sioux Falls, SD	2.0	1.0	913	$935	$1.02	13d	1	0.92mi
2900 S Louise Ave Unit 3008-304 Sioux Falls, SD	2.0	1.0	927	$960	$1.04	13d	1	0.92mi
2900 S Louise Ave Unit 3012-202 Sioux Falls, SD	2.0	1.0	913	$1,010	$1.11	21d	1	0.92mi
2900 S Louise Ave Unit 3004-304 Sioux Falls, SD	2.0	1.0	927	$1,035	$1.12	21d	1	0.92mi
2900 S Louise Ave Unit 2908-207 Sioux Falls, SD	2.0	1.0	913	$1,074	$1.18	21d	1	0.92mi
2900 S Louise Ave Unit 2908-105 Sioux Falls, SD	1.0	1.0	738	$941	$1.28	43d	1	0.92mi
2900 S Louise Ave Unit 3000-208 Sioux Falls, SD	2.0	1.0	913	$1,060	$1.16	13d	1	0.92mi
2900 S Louise Ave Unit 3000-303 Sioux Falls, SD	1.0	1.0	738	$865	$1.17	13d	1	0.92mi
2900 S Louise Ave Unit 3008-106 Sioux Falls, SD	2.0	1.0	927	$1,105	$1.19	13d	1	0.92mi
5109 S Rolling Green Ave Sioux Falls, SD	1.0	1.0	825	$1,294	$1.57	21d	2	0.93mi
2301 S Lorraine Pl Sioux Falls, SD	2.0	1.0–2.0	834	$1,695	$2.03	13d	15	0.94mi
4617 S Baha Ave Unit 4703 Sioux Falls, SD	2.0	1.0	800	$1,150	$1.44	43d	1	0.95mi
4617 S Baha Ave Unit 4713 Sioux Falls, SD	3.0	2.0	1000	$1,390	$1.39	43d	1	0.95mi
4617 S Baha Ave Unit 4709 Sioux Falls, SD	2.0	1.0	800	$1,295	$1.62	43d	1	0.95mi
5120 S Rolling Green Ave Sioux Falls, SD	2.0	1.0–2.0	801	$1,430	$1.78	13d	24	0.97mi
3700 S Golden Creek Pl Unit 3201-18 Sioux Falls, SD	2.0	1.0	840	$943	$1.12	21d	1	0.98mi
3700 S Golden Creek Pl Unit 3700-203 Sioux Falls, SD	1.0	1.0	640	$895	$1.40	43d	1	0.98mi
3700 S Golden Creek Pl Unit 3205-17 Sioux Falls, SD	2.0	1.0	840	$1,030	$1.23	43d	1	0.98mi
3700 S Golden Creek Pl Unit 3201-15 Sioux Falls, SD	2.0	1.0	840	$955	$1.14	43d	1	0.98mi

HOA detail condo

• Monthly dues: $387 · $4,644/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-18
   days on market $95,000 Active 43 DOM
2. 2026-06-17
   days on market $95,000 Active 42 DOM
3. 2026-06-16
   days on market $95,000 Active 41 DOM
4. 2026-06-15
   days on market $95,000 Active 40 DOM
5. 2026-06-14
   days on market $95,000 Active 38 DOM
6. 2026-06-13
   pricedays on market $95,000 Active 37 DOM
7. 2026-06-10
   days on market $103,000 Active 35 DOM
8. 2026-06-09
   days on market $103,000 Active 34 DOM
9. 2026-06-08
   days on market $103,000 Active 33 DOM
10. 2026-06-07
    days on market $103,000 Active 32 DOM
11. 2026-06-05
    days on market $103,000 Active 29 DOM
12. 2026-06-03
    days on market $103,000 Active 28 DOM
13. 2026-06-02
    days on market $103,000 Active 27 DOM
14. 2026-06-01
    days on market $103,000 Active 26 DOM
15. 2026-05-31
    days on market $103,000 Active 25 DOM
16. 2026-05-30
    days on market $103,000 Active 24 DOM
17. 2026-05-06
    listed $110,000 Active 907-char remark

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥99°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: $13,111
• − Mortgage interest: −$5,321
• − Property taxes: −$1,425
• − Insurance: −$475
• − Repairs & maintenance: −$1,049
• − Management: −$1,049
• − HOA: −$4,644
• − Depreciation: −$2,764
• Taxable loss: −$3,616
• Est. tax savings @ 24.0%: +$868
• After-tax cash flow: $-1,297/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.

Condition & rehab AI · 10 photos

Good 80/100 Cosmetic rehab

This townhouse is in good condition with a modern kitchen and neutral paint. It has potential for further improvements to enhance its curb appeal and value.

Value-add opportunities

• Both Painting exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics
• Both Landscaping improvements — Well-maintained landscaping can increase curb appeal and property value
• Resale Kitchen backsplash — A backsplash can add visual interest and protect the backsplash from stains
• Rental Bathroom renovation — A modern bathroom can attract renters and increase rental value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Well-maintained landscaping can increase curb appeal and property value ↑
• Resale Kitchen backsplash — A backsplash can add visual interest and protect the backsplash from stains ↑
• Rental Bathroom renovation — A modern bathroom can attract renters and increase rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Sioux Falls School District 49-5
• NCES district ID: 4666270
• Math proficiency: 39% ▼ -4.00%
• Reading proficiency: 48% ▼ -2.00%
• Median HH income: $51,093
• Composite: 37.47/100
• National rank: #4407
• State rank: #45 of 59 in SD

Livability — Sioux Falls

• Score: 85/100
• State rank: #3
• US rank: #610

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sioux Falls, SD
• County: Minnehaha County · 191,523 people
• City population: 207,623
• Metro: Sioux Falls, SD
• Population (ZIP): 51,907
• Household income: $77,580
• Rent vs Own: 41.2% rent · 58.8% own
• Severe rent burden: 1500.0

Population outlook (Minnehaha County) Hauer SSP2

• Today (2025): 222,323 people
• By 2030: 241,430 · +8.6%
• By 2040: 281,643 · +26.7%
• By 2050: 325,574 · +46.4%
• By 2075: 469,313 · +111.1%
• By 2100: 664,763 · +199.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 7% Two or more races 7% Black 5% Asian 1% Native American 1%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Portuguese 12% Iranian 7% Lithuanian 2%
• Foreign-born: 7% · Canada
• Languages at home: 91% English-only · Spanish 5% Russian/Polish/Slavic 1% Other Indo-European 1%

Political lean MEDSL · Minnehaha

• 2024 margin: R (+12.7) · D 42.5% · R 55.2% · Other 2.4%
• 2008→2024 swing: -13.4pp toward R · 2008: 0.7pp · 2024: -12.7pp
• All cycles: 2024: R+12.7 2020: R+9.5 2016: R+14.6 2012: R+7.4 2008: D+0.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -138.17%
• Current HPI: 214.9065
• Rent YoY: ▲ 2.18%
• Metro: Sioux Falls, 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

-13.6% since first listed

3 events — show timeline

• 2026-06-10 Price Changed $95,000 REALTOR® Association of the Sioux Empire
• 2026-05-21 Price Changed $103,000 REALTOR® Association of the Sioux Empire
• 2026-05-06 Listed $110,000 REALTOR® Association of the Sioux Empire