208 E Washington St St · Marion, SD 57043

$75,000

4 bd · 1.0 ba · 1,352 sqft · Other public records · 7 Days on market

Built 1904 0.26 ac lot ↓ 40% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Appreciation +4.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• Large backyard
• Main-floor laundry
• 0.26 acre lot

Tags

• LARGE BACKYARD
• MAIN-FLOOR LAUNDRY
• EASY ACCESS TO SIOUX FALLS
• EASY ACCESS TO YANKTON

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath other listed at $75k.

Deal economics

• At list price, monthly cash flow is $486 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).

Location & tenants

• Location reads 67/100 on livability (#98 in SD) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: crime D+, amenities F, commute F.
• Marion School District 60-3 (rural): math 45% / reading 50% proficiency, ranked #85 of 148 in SD (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 6 active listings in the ZIP; 29 units permitted in Turner County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-2.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Turner County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-2.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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.

Risks & watch-outs

• Watch-outs: built in 1904 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $75,000

Questions for the listing agent

1. Built in 1904 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.72% ✓
• Cap rate: 14.07%
• Cash-on-cash: 27.76%
• DSCR: 2.24
• GRM: 4.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-1.96% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.1%
• Equity multiple: 2.05×
• Total profit: $22,119
• Equity at exit: $14,699

10-year hold

• IRR: 30.6%
• Equity multiple: 3.96×
• Total profit: $62,165
• Equity at exit: $12,688

Cash invested: $21,000 (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 57043

• Home prices YoY: -0.9%
• Active inventory: 6
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,286 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$106 /mo · $1,270/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $486

Break-even live

Break-even rent $671

Max offer price $75,000

Occupancy floor 57%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-04-27
   status Pending
2. 2026-04-20
   listed $75,000 Active
3. 2025-08-02
   historical
4. 2025-06-24
   price $115,000
5. 2025-06-04
   listed $125,000 Active

ⓘ 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: $1,270 · $106/mo
• Projected year-2 tax: $1,270 · $106/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥100°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: $15,435
• − Mortgage interest: −$4,201
• − Property taxes: −$1,270
• − Insurance: −$375
• − Repairs & maintenance: −$1,235
• − Management: −$1,235
• − Depreciation: −$2,182
• Taxable income: $4,938
• Est. tax owed @ 24.0%: −$1,185
• After-tax cash flow: $4,644/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: Marion School District 60-3
• NCES district ID: 4645450
• Math proficiency: 45% ▼ -10.00%
• Reading proficiency: 50% ▼ -15.00%
• Median HH income: $46,834
• Composite: 42.52/100
• National rank: #6863
• State rank: #85 of 148 in SD

Livability — Marion

• Score: 67/100
• State rank: #98
• US rank: #10618

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: Marion, SD
• Population (ZIP): 1,625

Population outlook (Turner County) Hauer SSP2

• Today (2025): 8,006 people
• By 2030: 7,850 · -1.9%
• By 2040: 7,446 · -7.0%
• By 2050: 6,970 · -12.9%
• By 2075: 6,241 · -22.0%
• By 2100: 5,788 · -27.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3%
• Common ancestry: Portuguese 7% Iranian 5% Danish 2%
• Foreign-born: 0%
• Languages at home: 97% English-only · German/W. Germanic 2% Other Indo-European 1%

Political lean MEDSL · Turner

• 2024 margin: Solid R (+51.3) · D 23.0% · R 74.3% · Other 2.6%
• 2008→2024 swing: -31.7pp toward R · 2008: -19.7pp · 2024: -51.3pp
• All cycles: 2024: R+51.3 2020: R+47.3 2016: R+47.6 2012: R+31.0 2008: R+19.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1.96%
• Current HPI: 211.2508
• 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

-40.0% since first listed

5 events — show timeline

• 2026-04-27 Pending — REALTOR® Association of the Sioux Empire
• 2026-04-20 Listed $75,000 REALTOR® Association of the Sioux Empire
• 2025-08-02 Listing Removed — REALTOR® Association of the Sioux Empire
• 2025-06-24 Price Changed $115,000 REALTOR® Association of the Sioux Empire
• 2025-06-04 Listed $125,000 REALTOR® Association of the Sioux Empire

Property tax history

+17.6%/yr

Latest (2025): $1,270 · -1.3% YoY. Source: county tax records.