338 Evans Ln · North Spearfish, SD 57783

$139,900

3 bd · 2.0 ba · 1,280 sqft · Manufactured · 336 Days on market

Built 1997 Good condition $109/sqft · 21% below area Est $177k · 21% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• Schools +4.3/10.0
• Condition / age +4.0/5.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Contact listing agent Brandon Harvey 605-920-9853 with Great Peaks Realty for more information. Schedule a showing today of this very clean home in the best kept mobile home park in Spearfish. Great location in Lower Valley just off Evans Lane. Pretty much everything has been renovated in the last five years including: siding, paint, flooring, roof, vanities, tub, shower, fans, and a new refrigerator. From the minute you drive into the mobile home park to the moment you walk through the front door you will be impressed by how well kept everything is. Lot rent of $450/month includes: water, sewer, garbage removal, road maintenance, and snow removal. Dogs are not allowed in this park. Don't wait, call Brandon Harvey 605-920-9853 with Great Peaks Realty for a private showing now.

Key facts

• Renovated vanities
• Renovated paint
• Renovated siding

Tags

• LOCATION IN LOWER VALLEY
• RENOVATED SIDING
• RENOVATED PAINT
• RENOVATED FLOORING
• RENOVATED ROOF
• RENOVATED VANITIES

🏷️ Possibly a rental listed for sale. The $139,900 price doesn't fit this home's estimated sale value (~$176,522) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $140k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $657 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#116 in SD) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D-, amenities F, commute F.
• Spearfish School District 40-2 (town): math 45% / reading 56% proficiency, ranked #32 of 59 in SD (top 54%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 288 active listings in the ZIP; 217 units permitted in Lawrence County in 2024 (11 in 5+ unit buildings).
• This rent runs 33% of the median local income ($75k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Lawrence County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 336 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 32 sale attempts since 12y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $123,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 336 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.47% ✓
• Cap rate: 11.93%
• Cash-on-cash: 20.12%
• DSCR: 1.90
• GRM: 5.7

CMA / ARV

• ARV (median comp): $176,522
• List price: $139,900
• Delta: -20.75%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
113 Harandona Rd	0.25mi	3/2.0	1,344 (+5%)	11mo	$178,000	$132	71

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: 12.3%
• Equity multiple: 1.49×
• Total profit: $19,197
• Equity at exit: $20,860

10-year hold

• IRR: 21.3%
• Equity multiple: 2.81×
• Total profit: $70,713
• Equity at exit: $12,096

Cash invested: $39,172 (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 57783

• Active inventory: 288
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $2,055 medium
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,098/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$432
• Net cashflow: $657

Break-even live

Break-even rent $1,224

Max offer price $139,900

Occupancy floor 63%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-19
   days on market $139,900 Active 336 DOM
2. 2026-06-18
   days on market $139,900 Active 335 DOM
3. 2026-06-17
   days on market $139,900 Active 334 DOM
4. 2026-06-16
   days on market $139,900 Active 333 DOM
5. 2026-06-15
   days on market $139,900 Active 332 DOM
6. 2026-06-14
   days on market $139,900 Active 330 DOM
7. 2026-06-12
   days on market $139,900 Active 329 DOM
8. 2026-06-09
   days on market $139,900 Active 326 DOM
9. 2026-06-08
   days on market $139,900 Active 325 DOM
10. 2026-06-07
    days on market $139,900 Active 324 DOM
11. 2026-06-05
    days on market $139,900 Active 322 DOM
12. 2026-06-04
    days on market $139,900 Active 320 DOM
13. 2026-06-02
    days on market $139,900 Active 319 DOM
14. 2026-06-01
    days on market $139,900 Active 318 DOM
15. 2026-05-31
    days on market $139,900 Active 317 DOM
16. 2026-05-31
    days on market $139,900 Active 316 DOM
17. 2026-04-24
    price $139,900 787-char remark

    Show marketing remark (787 chars)

    Contact listing agent Brandon Harvey 605-920-9853 with Great Peaks Realty for more information. Schedule a showing today of this very clean home in the best kept mobile home park in Spearfish. Great location in Lower Valley just off Evans Lane. Pretty much everything has been renovated in the last five years including: siding, paint, flooring, roof, vanities, tub, shower, fans, and a new refrigerator. From the minute you drive into the mobile home park to the moment you walk through the front door you will be impressed by how well kept everything is. Lot rent of $450/month includes: water, sewer, garbage removal, road maintenance, and snow removal. Dogs are not allowed in this park. Don't wait, call Brandon Harvey 605-920-9853 with Great Peaks Realty for a private showing now.

18. 2025-09-16
    price $145,900 787-char remark

    Show marketing remark (787 chars)

    Contact listing agent Brandon Harvey 605-920-9853 with Great Peaks Realty for more information. Schedule a showing today of this very clean home in the best kept mobile home park in Spearfish. Great location in Lower Valley just off Evans Lane. Pretty much everything has been renovated in the last five years including: siding, paint, flooring, roof, vanities, tub, shower, fans, and a new refrigerator. From the minute you drive into the mobile home park to the moment you walk through the front door you will be impressed by how well kept everything is. Lot rent of $450/month includes: water, sewer, garbage removal, road maintenance, and snow removal. Dogs are not allowed in this park. Don't wait, call Brandon Harvey 605-920-9853 with Great Peaks Realty for a private showing now.

19. 2025-09-04
    listed Active
20. 2025-08-22
    status Active 787-char remark

    Show marketing remark (787 chars)

    Contact listing agent Brandon Harvey 605-920-9853 with Great Peaks Realty for more information. Schedule a showing today of this very clean home in the best kept mobile home park in Spearfish. Great location in Lower Valley just off Evans Lane. Pretty much everything has been renovated in the last five years including: siding, paint, flooring, roof, vanities, tub, shower, fans, and a new refrigerator. From the minute you drive into the mobile home park to the moment you walk through the front door you will be impressed by how well kept everything is. Lot rent of $450/month includes: water, sewer, garbage removal, road maintenance, and snow removal. Dogs are not allowed in this park. Don't wait, call Brandon Harvey 605-920-9853 with Great Peaks Realty for a private showing now.

21. 2025-08-11
    historical Active Under Contract 787-char remark

    Show marketing remark (787 chars)

    Contact listing agent Brandon Harvey 605-920-9853 with Great Peaks Realty for more information. Schedule a showing today of this very clean home in the best kept mobile home park in Spearfish. Great location in Lower Valley just off Evans Lane. Pretty much everything has been renovated in the last five years including: siding, paint, flooring, roof, vanities, tub, shower, fans, and a new refrigerator. From the minute you drive into the mobile home park to the moment you walk through the front door you will be impressed by how well kept everything is. Lot rent of $450/month includes: water, sewer, garbage removal, road maintenance, and snow removal. Dogs are not allowed in this park. Don't wait, call Brandon Harvey 605-920-9853 with Great Peaks Realty for a private showing now.

22. 2025-07-18
    listed $149,900 Active 787-char remark

    Show marketing remark (787 chars)

    Contact listing agent Brandon Harvey 605-920-9853 with Great Peaks Realty for more information. Schedule a showing today of this very clean home in the best kept mobile home park in Spearfish. Great location in Lower Valley just off Evans Lane. Pretty much everything has been renovated in the last five years including: siding, paint, flooring, roof, vanities, tub, shower, fans, and a new refrigerator. From the minute you drive into the mobile home park to the moment you walk through the front door you will be impressed by how well kept everything is. Lot rent of $450/month includes: water, sewer, garbage removal, road maintenance, and snow removal. Dogs are not allowed in this park. Don't wait, call Brandon Harvey 605-920-9853 with Great Peaks Realty for a private showing now.

23. 2024-06-28
    soldstatus $148,500 Closed
24. 2024-05-28
    historical Active Under Contract
25. 2024-03-14
    listed $152,000 Active
26. 2024-02-09
    price $49,000
27. 2023-12-28
    listed $50,000 Active
28. 2023-11-30
    soldstatus $35,000 Closed
29. 2023-10-24
    historical Active Under Contract
30. 2023-09-29
    price $65,000
31. 2023-09-14
    listed $75,000 Active
32. 2023-08-19
    listed $50,000 Active
33. 2023-08-07
    soldstatus $129,900 Closed
34. 2023-07-20
    listed $85,000 Active
35. 2023-07-14
    historical Active Under Contract
36. 2023-07-05
    price $129,900
37. 2023-06-09
    status Active
38. 2023-05-26
    historical Active Under Contract
39. 2023-05-22
    status Active
40. 2023-05-09
    historical Active Under Contract
41. 2023-05-08
    status Active
42. 2023-05-04
    historical Active Under Contract
43. 2023-05-03
    listed $139,900 Active
44. 2023-03-22
    soldstatus $72,500 Closed
45. 2023-02-22
    historical Active Under Contract
46. 2023-01-03
    status Active
47. 2022-12-09
    historical Active Under Contract
48. 2022-12-09
    price $85,000
49. 2022-11-09
    soldstatus $65,000 Closed
50. 2022-10-24
    price $90,000

ⓘ 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 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,663
• − Mortgage interest: −$7,837
• − Property taxes: −$2,098
• − Insurance: −$700
• − Repairs & maintenance: −$1,973
• − Management: −$1,973
• − Depreciation: −$4,070
• Taxable income: $6,013
• Est. tax owed @ 24.0%: −$1,443
• After-tax cash flow: $6,439/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 · 12 photos

Good 80/100 Cosmetic rehab

This mobile home is in good condition with recent renovations, making it a solid investment opportunity.

Value-add opportunities

• Both Painting the exterior — Enhances curb appeal and value
• Both Landscaping improvements — Enhances curb appeal and value
• Resale New flooring in bathrooms — Improves aesthetics and functionality
• Resale New kitchen appliances — Modernizes the space and appeals to buyers

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior — Enhances curb appeal and value ↑
• Both Landscaping improvements — Enhances curb appeal and value ↑
• Resale New flooring in bathrooms — Improves aesthetics and functionality ↑
• Resale New kitchen appliances — Modernizes the space and appeals to buyers ↑

ⓘ 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: Spearfish School District 40-2
• NCES district ID: 4666930
• Math proficiency: 45% ▼ -3.00%
• Reading proficiency: 56% ▲ 1.00%
• Median HH income: $43,524
• Composite: 42.54/100
• National rank: #3199
• State rank: #32 of 59 in SD

Livability — North Spearfish

• Score: 66/100
• State rank: #116
• US rank: #11447

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Spearfish, SD
• County: Lawrence County · 17,248 people
• Metro: Spearfish, SD
• Population (ZIP): 17,248
• Household income: $74,844
• Rent vs Own: 41.4% rent · 58.6% own
• Severe rent burden: 580.0

Population outlook (Lawrence County) Hauer SSP2

• Today (2025): 27,092 people
• By 2030: 28,137 · +3.9%
• By 2040: 29,908 · +10.4%
• By 2050: 31,789 · +17.3%
• By 2075: 38,917 · +43.6%
• By 2100: 50,407 · +86.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 4% Hispanic / Latino 3% Native American 3%
• Common ancestry: Portuguese 12% Iranian 3% Serbian 2%
• Foreign-born: 3% · Canada, China
• Languages at home: 94% English-only · Spanish 3% German/W. Germanic 1%

Political lean MEDSL · Lawrence

• 2024 margin: Solid R (+31.3) · D 32.9% · R 64.3% · Other 2.8%
• 2008→2024 swing: -15.9pp toward R · 2008: -15.4pp · 2024: -31.3pp
• All cycles: 2024: R+31.3 2020: R+30.5 2016: R+34.2 2012: R+26.9 2008: R+15.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -174.59%
• Current HPI: 206.2001
• Rent YoY: —
• Metro: Spearfish, SD
• 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

+976.2% since first listed

71 events — show timeline

• 2026-04-24 Price Changed $139,900 MRAOR
• 2025-09-16 Price Changed $145,900 MRAOR
• 2025-09-04 Listed — MRAOR
• 2025-08-22 Relisted — MRAOR
• 2025-08-11 Contingent — MRAOR
• 2025-07-18 Listed $149,900 MRAOR
• 2024-06-28 Sold (MLS) $148,500 MRAOR
• 2024-05-28 Contingent — MRAOR
• 2024-03-14 Listed $152,000 MRAOR
• 2024-02-09 Price Changed $49,000 MRAOR
• 2023-12-28 Listed $50,000 MRAOR
• 2023-11-30 Sold (MLS) $35,000 MRAOR
• 2023-10-24 Contingent — MRAOR
• 2023-09-29 Price Changed $65,000 MRAOR
• 2023-09-14 Listed $75,000 MRAOR
• 2023-08-19 Listed $50,000 MRAOR
• 2023-08-07 Sold (MLS) $129,900 MRAOR
• 2023-07-20 Listed $85,000 MRAOR
• 2023-07-14 Contingent — MRAOR
• 2023-07-05 Price Changed $129,900 MRAOR
• 2023-06-09 Relisted — MRAOR
• 2023-05-26 Contingent — MRAOR
• 2023-05-22 Relisted — MRAOR
• 2023-05-09 Contingent — MRAOR
• 2023-05-08 Relisted — MRAOR
• 2023-05-04 Contingent — MRAOR
• 2023-05-03 Listed $139,900 MRAOR
• 2023-03-22 Sold (MLS) $72,500 MRAOR
• 2023-02-22 Contingent — MRAOR
• 2023-01-03 Relisted — MRAOR
• 2022-12-09 Contingent — MRAOR
• 2022-12-09 Price Changed $85,000 MRAOR
• 2022-11-09 Sold (MLS) $65,000 MRAOR
• 2022-10-24 Price Changed $90,000 MRAOR
• 2022-10-13 Price Changed $95,000 MRAOR
• 2022-10-02 Contingent — MRAOR
• 2022-09-29 Listed $65,000 MRAOR
• 2022-09-16 Sold (MLS) $67,000 MRAOR
• 2022-09-15 Listed $100,000 MRAOR
• 2022-08-22 Contingent — MRAOR
• 2022-06-02 Listed $77,000 MRAOR
• 2022-05-20 Sold (MLS) $128,000 MRAOR
• 2022-03-20 Listed $129,900 MRAOR
• 2022-01-21 Sold (MLS) $80,000 MRAOR
• 2021-12-06 Listed $89,900 MRAOR
• 2021-09-01 Sold (MLS) $80,000 MRAOR
• 2021-07-03 Listed $80,000 MRAOR
• 2021-01-15 Sold (MLS) $32,000 MRAOR
• 2021-01-15 Sold (MLS) $32,000 BHMLS
• 2020-12-15 Listed $31,500 MRAOR
• 2020-12-15 Listed $31,500 BHMLS
• 2019-10-02 Sold (MLS) $25,000 MRAOR
• 2019-09-09 Listed $15,000 MRAOR
• 2019-08-08 Listed $43,900 MRAOR
• 2019-07-22 Listed $31,000 MRAOR
• 2019-06-27 Sold (MLS) $31,000 MRAOR
• 2019-04-09 Listed $42,000 MRAOR
• 2018-03-23 Sold (MLS) $9,200 MRAOR
• 2018-03-23 Sold (MLS) $9,200 BHMLS
• 2018-03-03 Listed $9,200 MRAOR
• 2018-03-03 Listed $9,200 BHMLS
• 2016-05-05 Sold (MLS) $31,500 MRAOR
• 2016-05-05 Sold (MLS) $31,500 BHMLS
• 2016-02-11 Listed $39,900 MRAOR
• 2016-02-11 Listed $39,900 BHMLS
• 2015-10-30 Sold (MLS) $35,000 MRAOR
• 2015-09-21 Listed $37,000 MRAOR
• 2015-04-17 Sold (MLS) $31,000 MRAOR
• 2015-03-16 Listed $31,000 MRAOR
• 2014-11-12 Sold (MLS) $13,500 MRAOR
• 2014-11-04 Listed $13,000 MRAOR