310 1st St SW · Wagner, SD 57380

$64,500

3 bd · 2.0 ba · 1,432 sqft · SingleFamily public records

Built 1910 0.27 ac lot

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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
• Appreciation +5.0/10.0
• Livability +3.0/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• 0.27 acre lot
• Garage
• Built 1910

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $513 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $64k).

Location & tenants

• Location reads 60/100 on livability (#252 in SD) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D, crime F, amenities F.
• Wagner Community School District 11-4 (rural): math 27% / reading 38% proficiency, ranked #57 of 59 in SD (top 97%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 7 active listings in the ZIP; 19 units permitted in Charles Mix County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($446 loan paydown + $2k appreciation (3.0% local appreciation)).
• Charles Mix County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $64,500

Questions for the listing agent

1. Built in 1910 — 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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?
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: 1.88% ✓
• Cap rate: 15.83%
• Cash-on-cash: 34.07%
• DSCR: 2.52
• GRM: 4.4

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: 39.8%
• Equity multiple: 3.24×
• Total profit: $40,450
• Equity at exit: $29,002

10-year hold

• IRR: 39.7%
• Equity multiple: 6.44×
• Total profit: $98,259
• Equity at exit: $44,696

Cash invested: $18,060 (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 57380

• Active inventory: 7
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,213 medium
• Mortgage (P&I): −$338
• Tax est. 1.5%: −$81 /mo · $968/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $513

Break-even live

Break-even rent $564

Max offer price $64,500

Occupancy floor 53%

Sensitivity live

Price	-10% $557	-5% $535	+0% $513	+5% $491	+10% $468
Rent	-10% $417	-5% $465	+0% $513	+5% $561	+10% $609
Rate	-1.0pp $545	-0.5pp $529	base $513	+0.5pp $496	+1.0pp $479

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: $16,125
• Closing costs: $1,935
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2022-10-31
   historical
2. 2017-05-05
   listed $64,500

ⓘ 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 5/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°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: $14,560
• − Mortgage interest: −$3,613
• − Property taxes: −$968
• − Insurance: −$322
• − Repairs & maintenance: −$1,165
• − Management: −$1,165
• − Depreciation: −$1,876
• Taxable income: $5,451
• Est. tax owed @ 24.0%: −$1,308
• After-tax cash flow: $4,845/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: Wagner Community School District 11-4
• NCES district ID: 4675420
• Math proficiency: 27% ▼ -10.00%
• Reading proficiency: 38% ▼ -8.00%
• Median HH income: $35,844
• Composite: 26.88/100
• National rank: #7097
• State rank: #57 of 59 in SD

Livability — Wagner

• Score: 60/100
• State rank: #252
• US rank: #19031

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wagner, SD
• Population (ZIP): 3,335

Population outlook (Charles Mix County) Hauer SSP2

• Today (2025): 9,490 people
• By 2030: 9,536 · +0.5%
• By 2040: 9,723 · +2.5%
• By 2050: 9,942 · +4.8%
• By 2075: 11,384 · +20.0%
• By 2100: 13,478 · +42.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.77)
• Race & ethnicity: White 47% Native American 42% Two or more races 9% Hispanic / Latino 4%
• Common ancestry: Iranian 3% Portuguese 2% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 92% English-only · Russian/Polish/Slavic 1% Other Asian/Pacific 1% Spanish 1%

Political lean MEDSL · Charles Mix

• 2024 margin: Solid R (+42.9) · D 27.7% · R 70.6% · Other 1.8%
• 2008→2024 swing: -35.3pp toward R · 2008: -7.6pp · 2024: -42.9pp
• All cycles: 2024: R+42.9 2020: R+36.4 2016: R+42.1 2012: R+19.9 2008: R+7.6

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

2 events — show timeline

• 2022-10-31 Delisted — MBOR
• 2017-05-05 Listed $64,500 MBOR