201 Wicker St St · Gayville, SD 57031

$599,000

15 bd · 8.0 ba · 7,104 sqft · MultiFamily · 20 Days on market

Built 1972 Poor condition 0.34 ac lot ↓ 9% since listing

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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
• DSCR +10.0/10.0
• 1% rule +9.6/10.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Livability +3.4/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 5 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Cash flowing 8-plex in Gayville, SD. Great rental history and well-maintained. Take advantage of the tax breaks and add Wicker St to your portfolio. Buyer to verify all square footage of units. Property consists of 7 2-bedroom and 1 1-bedroom units. Currently the 1-bedroom is vacant as well as one of the 2 bedroom units.

Key facts

• 0.34 acre lot
• Built 1972
• Listed 19 days

Property features AI

Finance

• Other: Owner pays specified utilities and exterior maintenance (gas, water, sewer, grounds care, snow removal)
• Financial info: Multi-family property with multiple rental units (rents vary by unit)

Exterior

• Parking: Paved parking
• Utilities: Public water; Public sewer
• Home design: Two-story building; Community entry
• Construction: HardiPlank-type siding; Composition roof; Slab foundation; Building area approximately 7,104 total square feet
• Exterior features: Irregular lot dimensions

Interior

• Kitchen: Refrigerator; Range
• Bedrooms: Units with 1 to 2 bedrooms (bedroom count varies by unit)
• Flooring: Carpet; Vinyl
• Bathrooms: One bathroom per unit
• Heating & cooling: Hot water heat
• Interior features: Carpets; Window coverings; Combined living/dining areas; Combined kitchen/dining areas; No basement
• Laundry & utility: Owner pays gas, water, sewer, grounds care and snow removal

What this means for you Summary

Snapshot

• This is a 5 × 3-bed/?-bath units multifamily listed at $599k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $3k ($33k/yr) — positive. Per door: $555/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $599k).
• Recommended offer: $590k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#100 in SD) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B+; Watch: crime D+, health & safety D, amenities F.
• Gayville-Volin School District 63-1 (rural): math 25% / reading 40% proficiency, ranked #125 of 148 in SD (top 84%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Gayville-Volin Elementary - 02 (math 24% / reading 34%, grade F, #205 of 253 statewide, top 85%, 144 students, 28% FRL); Gayville-Volin Middle School - 03 (math 22% / reading 42%, grade F, #121 of 143 statewide, top 87%, 63 students, 27% FRL); Gayville-Volin High School - 01 (math 30% / reading 70%, grade D+, #69 of 151 statewide, top 65%, 82 students, 20% FRL) — zoned schools at 25% FRL track the district average.
• Market conditions: 7 active listings in the ZIP; 179 units permitted in Yankton County in 2024 (130 in 5+ unit buildings).

Forward outlook

• In year one you build about $22k of equity ($4k loan paydown + $18k appreciation (3.0% local appreciation)).
• Yankton County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $168k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($590k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $590,015 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Crime grade is D 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?
7. 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.
8. 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.
9. 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: 1.46% ✓
• Cap rate: 11.85%
• Cash-on-cash: 19.84%
• DSCR: 1.88
• GRM: 5.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 26.2%
• Equity multiple: 2.48×
• Total profit: $248,901
• Equity at exit: $269,336

10-year hold

• IRR: 26.9%
• Equity multiple: 4.81×
• Total profit: $638,825
• Equity at exit: $415,079

Cash invested: $167,720 (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 57031

• Active inventory: 7
• Price-to-rent: 28.5×

Monthly cashflow live

• Estimated rent: $8,750 medium
• Mortgage (P&I): −$3,141
• Tax est. 1.5%: −$749 /mo · $8,985/yr
• Insurance: −$250
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,838
• Net cashflow: $2,773

Break-even live

Break-even rent $5,240

Max offer price $599,000

Occupancy floor 63%

Sensitivity live

Price	-10% $3,187	-5% $2,980	+0% $2,773	+5% $2,566	+10% $2,359
Rent	-10% $2,082	-5% $2,427	+0% $2,773	+5% $3,119	+10% $3,464
Rate	-1.0pp $3,075	-0.5pp $2,925	base $2,773	+0.5pp $2,618	+1.0pp $2,460

5-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 5× units	3	—	$8,750
Total (5 units)			$8,750

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: $149,750
• Closing costs: $17,970
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $599,000 Active 20 DOM
2. 2026-06-19
   days on market $599,000 Active 18 DOM
3. 2026-06-18
   days on market $599,000 Active 17 DOM
4. 2026-06-17
   days on market $599,000 Active 16 DOM
5. 2026-06-16
   days on market $599,000 Active 15 DOM
6. 2026-06-15
   days on market $599,000 Active 14 DOM
7. 2026-06-14
   days on market $599,000 Active 12 DOM
8. 2026-06-12
   days on market $599,000 Active 11 DOM
9. 2026-06-09
   days on market $599,000 Active 8 DOM
10. 2026-06-08
    days on market $599,000 Active 7 DOM
11. 2026-06-07
    days on market $599,000 Active 6 DOM
12. 2026-06-05
    days on market $599,000 Active 4 DOM
13. 2026-06-04
    days on market $599,000 Active 2 DOM
14. 2026-06-01
    pricedays on marketlisting id $599,000 Active 1 DOM

    Show marketing remark (322 chars)

    Cash flowing 8-plex in Gayville, SD. Great rental history and well-maintained. Take advantage of the tax breaks and add Wicker St to your portfolio. Buyer to verify all square footage of units. Property consists of 7 2-bedroom and 1 1-bedroom units. Currently the 1-bedroom is vacant as well as one of the 2 bedroom units.

15. 2026-06-01
    days on market $655,000 Active 328 DOM

    Show marketing remark (322 chars)

    Cash flowing 8-plex in Gayville, SD. Great rental history and well-maintained. Take advantage of the tax breaks and add Wicker St to your portfolio. Buyer to verify all square footage of units. Property consists of 7 2-bedroom and 1 1-bedroom units. Currently the 1-bedroom is vacant as well as one of the 2 bedroom units.

16. 2026-05-31
    days on market $655,000 Active 327 DOM
17. 2026-05-31
    days on market $655,000 Active 326 DOM
18. 2025-07-08
    listed $655,000 Active 301-char remark

    Show marketing remark (322 chars)

    Cash flowing 8-plex in Gayville, SD. Great rental history and well-maintained. Take advantage of the tax breaks and add Wicker St to your portfolio. Buyer to verify all square footage of units. Property consists of 7 2-bedroom and 1 1-bedroom units. Currently the 1-bedroom is vacant as well as one of the 2 bedroom units.

ⓘ 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

• 🌡 Heat 3/10 Moderate
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $105,000
• − Mortgage interest: −$33,553
• − Property taxes: −$8,985
• − Insurance: −$2,995
• − Repairs & maintenance: −$8,400
• − Management: −$8,400
• − Depreciation: −$17,425
• Taxable income: $25,241
• Est. tax owed @ 24.0%: −$6,058
• After-tax cash flow: $27,217/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 · 1 photo

Poor 20/100 Extensive rehab

This multi-family property requires extensive repairs and maintenance, including landscaping, exterior siding, and roof inspection. Immediate action is needed to improve its condition and increase its resale and rental value.

Repairs flagged

• Major landscaping — Overgrown vegetation needs trimming and landscaping
• Major exterior siding — Signs of wear and tear, possibly requiring repainting or replacement
• Major roof — Aged appearance, may need inspection and potential repair or replacement
• Major interior walls/paint — No visible interior, but the exterior suggests potential issues

Value-add opportunities

• Both landscaping and exterior maintenance — Enhances curb appeal and property value
• Both roof inspection and repair — Improves safety and property value
• Both exterior painting — Enhances curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
landscaping · Overgrown vegetation needs trimming and landscaping	Major	$15,000–50,000
exterior siding · Signs of wear and tear, possibly requiring repainting or replacement	Major	$15,000–50,000
roof · Aged appearance, may need inspection and potential repair or replacement	Major	$15,000–50,000
interior walls/paint · No visible interior, but the exterior suggests potential issues	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both landscaping and exterior maintenance — Enhances curb appeal and property value ↑
• Both roof inspection and repair — Improves safety and property value ↑
• Both exterior painting — Enhances curb appeal and property 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: Gayville-Volin School District 63-1
• NCES district ID: 4626490
• Math proficiency: 25% ▲ 5.00%
• Reading proficiency: 40% ▲ 10.00%
• Median HH income: $56,744
• Composite: 31.62/100
• National rank: #11134
• State rank: #125 of 148 in SD

Livability — Gayville

• Score: 67/100
• State rank: #100
• US rank: #10820

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gayville, SD
• Population (ZIP): 670

Population outlook (Yankton County) Hauer SSP2

• Today (2025): 23,495 people
• By 2030: 23,705 · +0.9%
• By 2040: 24,037 · +2.3%
• By 2050: 24,561 · +4.5%
• By 2075: 28,069 · +19.5%
• By 2100: 33,542 · +42.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 5% Two or more races 2%
• Common ancestry: Portuguese 22% Iranian 13% Scottish 2%
• Foreign-born: 3% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Yankton

• 2024 margin: Strong R (+25.5) · D 35.9% · R 61.4% · Other 2.8%
• 2008→2024 swing: -23.6pp toward R · 2008: -2.0pp · 2024: -25.5pp
• All cycles: 2024: R+25.5 2020: R+23.5 2016: R+24.5 2012: R+12.7 2008: R+2.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

-8.5% since first listed

4 events — show timeline

• 2026-06-01 Listed $599,000 MARMLS
• 2026-06-01 Price Changed $599,000 NWIA
• 2026-06-01 Listed $599,000 REALTOR® Association of the Sioux Empire
• 2025-07-08 Listed $655,000 NWIA