4144 Fleetwood Dr · Blackhawk, SD 57718

$99,999

3 bd · 2.0 ba · 1,280 sqft · Other · 4 Days on market

Built 2005

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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 +3.4/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Listed by Pam Hansen, EXIT Realty, 605-390-3026. This home is like new. .. very well maintained. A 2005 Friendship Elite single wide (16X80), located in a quiet cul-de-sac in the Cobblestone Ridge Mobile Home Park. This home features 3 bedrooms, 2 bath, open floor plan with vaulted ceilings, hardwood flooring throughout, a new furnace in 2010 and a large outdoor storage shed. This home sits on a lot meant for a double wide, so a much bigger yard, nicely landscaped in a very well maintained mobile home park. Lot rent is currently $220 a month which includes water, septic, garbage, road maintenance and snow removal. Financing through Black Hills Federal Credit Union or Bank West.

Key facts

• Desirable location
• New flooring
• New paint

Tags

• DESIRABLE LOCATION
• NEW FLOORING
• NEW PAINT
• NEW APPLIANCES
• UPDATED HUGE MASTER SUITE
• CORNER TUB

Property features AI

Finance

• Other: Subdivision: BLACK HAWK
• HOA & community: No association amenities

Exterior

• Security: Fire alarm; Smoke detectors
• Utilities: Electric service with circuit breakers and 220 volts
• Home design: Manufactured home; Single-story
• Exterior features: Level lot; Located on a cul-de-sac; No fencing; Composition roof; Has a view; Satellite dish

Interior

• Kitchen: Refrigerator; Gas oven; Oven; Dishwasher
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Vaulted ceilings

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $100k.

Deal economics

• At list price, monthly cash flow is $673 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).

Location & tenants

• Location reads 66/100 on livability (#125 in SD) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Rapid City Area School District 51-4 (urban): math 34% / reading 46% proficiency, ranked #50 of 59 in SD (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Black Hawk Elementary - 03 (math 27% / reading 27%, grade F, #217 of 253 statewide, top 86%, 370 students, 34% FRL); West Middle School - 37 (math 42% / reading 51%, grade D+, #73 of 143 statewide, top 51%, 612 students, 26% FRL); Stevens High School - 42 (math 56% / reading 86%, grade B+, #11 of 151 statewide, top 7%, 1,686 students, 14% FRL).
• Market conditions: 29 active listings in the ZIP; 1,181 units permitted in Pennington County in 2024 (715 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Pennington County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 10y ago; this cycle's ask has dropped $18k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $48k; list at $100k implies a 109% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $99,999

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.62% ✓
• Cap rate: 14.37%
• Cash-on-cash: 28.85%
• DSCR: 2.28
• GRM: 5.1

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: 23.2%
• Equity multiple: 1.95×
• Total profit: $26,646
• Equity at exit: $14,910

10-year hold

• IRR: 31.1%
• Equity multiple: 3.80×
• Total profit: $78,309
• Equity at exit: $8,646

Cash invested: $28,000 (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 57718

• Active inventory: 29
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,624 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$44 /mo · $527/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$341
• Net cashflow: $673

Break-even live

Break-even rent $772

Max offer price $99,999

Occupancy floor 54%

Sensitivity live

Price	-10% $730	-5% $701	+0% $673	+5% $645	+10% $617
Rent	-10% $545	-5% $609	+0% $673	+5% $737	+10% $801
Rate	-1.0pp $724	-0.5pp $699	base $673	+0.5pp $647	+1.0pp $621

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-21
   days on market $99,999 Active 4 DOM
2. 2026-06-19
   days on market $99,999 Active 2 DOM
3. 2026-06-17
   statusdays on marketlisting id $99,999 Active 1 DOM
4. 2026-05-15
   historical Active Under Contract
5. 2026-05-12
   price $99,999
6. 2026-04-18
   listed $118,000 Active
7. 2016-08-31
   soldstatus $47,900 687-char remark

   Show marketing remark (687 chars)

   Listed by Pam Hansen, EXIT Realty, 605-390-3026. This home is like new. .. very well maintained. A 2005 Friendship Elite single wide (16X80), located in a quiet cul-de-sac in the Cobblestone Ridge Mobile Home Park. This home features 3 bedrooms, 2 bath, open floor plan with vaulted ceilings, hardwood flooring throughout, a new furnace in 2010 and a large outdoor storage shed. This home sits on a lot meant for a double wide, so a much bigger yard, nicely landscaped in a very well maintained mobile home park. Lot rent is currently $220 a month which includes water, septic, garbage, road maintenance and snow removal. Financing through Black Hills Federal Credit Union or Bank West.

8. 2016-04-19
   listed $51,900 687-char remark

   Show marketing remark (687 chars)

   Listed by Pam Hansen, EXIT Realty, 605-390-3026. This home is like new. .. very well maintained. A 2005 Friendship Elite single wide (16X80), located in a quiet cul-de-sac in the Cobblestone Ridge Mobile Home Park. This home features 3 bedrooms, 2 bath, open floor plan with vaulted ceilings, hardwood flooring throughout, a new furnace in 2010 and a large outdoor storage shed. This home sits on a lot meant for a double wide, so a much bigger yard, nicely landscaped in a very well maintained mobile home park. Lot rent is currently $220 a month which includes water, septic, garbage, road maintenance and snow removal. Financing through Black Hills Federal Credit Union or Bank West.

9. 2006-02-02
   soldstatus $46,885

ⓘ 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: $527 · $44/mo
• Projected year-2 tax: $1,310 · $109/mo
• Expected delta: +$783/yr (+$65/mo · 148.6%)

ⓘ 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 8/10 Severe
• 🌡 Heat 2/10 Low 7 d/yr ≥93°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,491
• − Mortgage interest: −$5,601
• − Property taxes: −$527
• − Insurance: −$500
• − Repairs & maintenance: −$1,559
• − Management: −$1,559
• − Depreciation: −$2,909
• Taxable income: $6,835
• Est. tax owed @ 24.0%: −$1,640
• After-tax cash flow: $6,438/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: Rapid City Area School District 51-4
• NCES district ID: 4659820
• Math proficiency: 34% ▼ -8.00%
• Reading proficiency: 46% ▼ -4.00%
• Median HH income: $50,145
• Composite: 34.47/100
• National rank: #5189
• State rank: #50 of 59 in SD

Livability — Blackhawk

• Score: 66/100
• State rank: #125
• US rank: #11648

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 7,329

Population outlook (Pennington County) Hauer SSP2

• Today (2025): 125,504 people
• By 2030: 133,370 · +6.3%
• By 2040: 147,505 · +17.5%
• By 2050: 160,507 · +27.9%
• By 2075: 197,585 · +57.4%
• By 2100: 241,736 · +92.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 9% Hispanic / Latino 5% Asian 1% Black 1% Native American 1%
• Common ancestry: Portuguese 7% Italian 2% Slovak 2%
• Foreign-born: 3% · Canada, China
• Languages at home: 97% English-only · Spanish 2% Chinese 1%

Political lean MEDSL · Pennington

• 2024 margin: Strong R (+26.4) · D 35.4% · R 61.9% · Other 2.7%
• 2008→2024 swing: -5.3pp toward R · 2008: -21.2pp · 2024: -26.4pp
• All cycles: 2024: R+26.4 2020: R+25.1 2016: R+33.0 2012: R+29.5 2008: R+21.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -207.83%
• Current HPI: 173.8246
• 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

+113.3% since first listed

6 events — show timeline

• 2026-05-15 Contingent — BHMLS
• 2026-05-12 Price Changed $99,999 BHMLS
• 2026-04-18 Listed $118,000 BHMLS
• 2016-08-31 Sold (MLS) $47,900 BHMLS
• 2016-04-19 Listed $51,900 BHMLS
• 2006-02-02 Sold (Public Records) $46,885 Public Records

Property tax history

-1.9%/yr

Latest (2025): $527 · -5.7% YoY. Source: county tax records.