402 Wicker St · Gayville, SD 57031

$229,000

3 bd · 2.0 ba · 1,956 sqft · SingleFamily public records · 7 Days on market

Built 1977 6,250 sqft lot Est $227k · at est.

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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).

• Cash flow +11.6/30.0
• ARV discount +7.1/15.0
• Appreciation +5.0/10.0
• DSCR +3.4/10.0
• Livability +3.4/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0

Key facts

• Raised ranch home
• Separate pantry
• Spacious kitchen

Tags

• RAISED RANCH HOME
• SPACIOUS KITCHEN
• NEWER APPLIANCES
• PASS-THROUGH TO DINING ROOM
• LARGE COAT CLOSET
• SEPARATE PANTRY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $229k.

Deal economics

• At list price, monthly cash flow is $-71 ($-853/yr) — negative.
• To cash-flow at today's rent, offer at most $216k (5.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $170k (25.8% below list).
• Recommended offer: $170k (25.8% below list) — sets the bar for 1% rule.

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 $8k of equity ($2k loan paydown + $7k 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 $64k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $85k; list at $229k implies a 169% gain — meaningful room to come down on a strong offer.

Recommended offer $169,816 (25.8% 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. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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. 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?
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: 0.74% ✗
• Cap rate: 5.92%
• Cash-on-cash: -1.33%
• DSCR: 0.94
• GRM: 11.2

CMA / ARV

• ARV (on-the-fly): $226,896
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
402 Wicker St	0.00mi	3/2.0	1,976 (+1%)	1mo	$229,900	$116	98
707 Mccook St	0.35mi	3/1.0	1,735 (-11%)	6mo	$162,000	$93	56

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 6.2%
• Equity multiple: 1.36×
• Total profit: $22,979
• Equity at exit: $102,968

10-year hold

• IRR: 9.1%
• Equity multiple: 2.37×
• Total profit: $88,078
• Equity at exit: $158,686

Cash invested: $64,120 (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: 11.2×

Monthly cashflow live

• Estimated rent: $1,698 medium
• Mortgage (P&I): −$1,201
• Tax from tax record: −$116 /mo · $1,396/yr
• Insurance: −$95
• HOA: −$0
• Vacancy / Maint / Mgmt: −$357
• Net cashflow: $-71

Break-even live

Break-even rent $1,788

Max offer price $216,440

Occupancy floor 99%

Sensitivity live

Price	-10% $59	-5% $-6	+0% $-71	+5% $-136	+10% $-201
Rent	-10% $-205	-5% $-138	+0% $-71	+5% $-4	+10% $63
Rate	-1.0pp $44	-0.5pp $-13	base $-71	+0.5pp $-130	+1.0pp $-191

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-04-08
   status Pending
2. 2026-04-01
   listed $229,000 Active
3. 2019-03-22
   soldstatus $85,000

ⓘ 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: $1,396 · $116/mo
• Projected year-2 tax: $3,000 · $250/mo
• Expected delta: +$1,604/yr (+$134/mo · 114.9%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°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: $20,378
• − Mortgage interest: −$12,828
• − Property taxes: −$1,396
• − Insurance: −$1,145
• − Repairs & maintenance: −$1,630
• − Management: −$1,630
• − Depreciation: −$6,662
• Taxable loss: −$4,913
• Est. tax savings @ 24.0%: +$1,179
• After-tax cash flow: $326/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: 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

+169.4% since first listed

3 events — show timeline

• 2026-04-08 Pending — NWIA
• 2026-04-01 Listed $229,000 NWIA
• 2019-03-22 Sold (Public Records) $85,000 Public Records

Property tax history

+1.2%/yr

Latest (2025): $1,396 · +7.6% YoY. Source: county tax records.