1104 S Joliet Ave Ave · Sioux Falls, SD 57110

$230,000

3 bd · 3.0 ba · 1,512 sqft · SingleFamily public records · 2 Days on market

Built 1978 10,396 sqft lot Est $284k · 19% under

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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).

• ARV discount +15.0/15.0
• Cash flow +9.6/30.0
• Livability +4.2/5.0
• Schools +3.7/10.0
• Rent growth +3.4/5.0
• DSCR +2.7/10.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• Appreciation +0.0/10.0

Key facts

• Updated siding
• Welcoming front deck
• Solid foundation

Tags

• SOLID FOUNDATION
• UPDATED ROOF
• UPDATED SIDING
• UPDATED GUTTERS
• UPDATED EXTERIOR PAINT
• WELCOMING FRONT DECK

Property features AI

Exterior

• Parking: Concrete parking; Room available for a garage
• Utilities: Public water; Public sewer; Electric service
• Home design: Single family ranch-style home; Above-grade finished living area and below-grade finished living area (finished space on both levels); Lot owned
• Construction: Hardboard siding; Block foundation; Composition roof; Built with both above- and below-grade finished areas; additional unfinished below-grade area
• Exterior features: Deck; Shed(s); Corner lot

Interior

• Kitchen: Range; Dishwasher; Refrigerator
• Bedrooms: Primary bedroom on the main level (approx. 10 x 12); Second bedroom on the main level (approx. 9 x 10); Third bedroom on the main level (approx. 9 x 10); Two additional non-legal basement bedrooms (approx. 10 x 11 and 11 x 15)
• Flooring: Carpet; Laminate; Vinyl
• Bathrooms: One full bathroom; One 3/4 bathroom (main level full bath noted)
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: 3+ bedrooms on the same level; Full basement
• Laundry & utility: Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $-154 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $203k (11.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $162k (29.4% below list).
• Recommended offer: $162k (29.4% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 2.6% in Sioux Falls — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 85/100 on livability (#3 in SD, #610 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F.
• Sioux Falls School District 49-5 (urban): math 39% / reading 48% proficiency, ranked #45 of 59 in SD (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Rosa Parks Elementary - 15 (math 30% / reading 32%, grade F, #200 of 253 statewide, top 79%, 729 students, 46% FRL); Washington High School - 01 (math 33% / reading 57%, grade D-, #110 of 151 statewide, top 73%, 1,910 students, 39% FRL).
• Market conditions: Rents rising (+3.5%/yr); 501 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,425 units permitted in Minnehaha County in 2024 (1,367 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Minnehaha County population projected at +46% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

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

Recommended offer $162,447 (29.4% 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 1978 — 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. 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?
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.71% ✗
• Cap rate: 5.49%
• Cash-on-cash: -2.87%
• DSCR: 0.87
• GRM: 11.8

CMA / ARV

• ARV (on-the-fly): $284,256
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1305 S Dale Dr Dr	0.24mi	3/2.0	1,510 (-0%)	8mo	$259,400	$172	78
5116 E 16th St St	0.12mi	4/2.0 (+1)	1,614 (+7%)	1mo	$225,000	$139	73
5105 E 17th St St	0.03mi	4/2.0 (+1)	1,652 (+9%)	2mo	$310,000	$188	72
5121 E 17th St St	0.07mi	4/2.0 (+1)	1,596 (+6%)	8mo	$314,000	$197	72
205 S Foss Ave Ave	0.68mi	3/2.0	1,478 (-2%)	3mo	$300,000	$203	58
4901 E Villa Ridge St St	0.39mi	2/2.0 (-1)	1,425 (-6%)	7mo	$360,000	$253	58
313 S Sycamore Ave Ave	0.68mi	3/2.0	1,452 (-4%)	2mo	$130,000	$90	56
200 N Fanelle Ave Ave	0.69mi	3/2.0	1,532 (+1%)	8mo	$248,000	$162	55
4008 E 23rd St St	0.71mi	3/1.0	1,440 (-5%)	1mo	$280,000	$194	50
4009 E 23rd St	0.72mi	3/2.0	1,636 (+8%)	9mo	$265,000	$162	41
509 S Kennedy Ave Ave	0.74mi	3/1.0	1,414 (-6%)	6mo	$184,500	$130	41
921 S Gardner Dr Dr	0.67mi	4/2.0 (+1)	1,722 (+14%)	4mo	$323,900	$188	33

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 · 3.46% rent growth · sell at horizon

5-year hold

• IRR: -20.7%
• Equity multiple: 0.28×
• Total profit: $-46,409
• Equity at exit: $34,294

10-year hold

• IRR: -13.1%
• Equity multiple: 0.22×
• Total profit: $-50,216
• Equity at exit: $19,886

Cash invested: $64,400 (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 57110

• Home prices YoY: -29.6%
• Rents YoY: 3.5%
• Active inventory: 501
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $1,624 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$136 /mo · $1,628/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$341
• Net cashflow: $-154

Break-even live

Break-even rent $1,820

Max offer price $202,747

Occupancy floor —

Sensitivity live

Price	-10% $-24	-5% $-89	+0% $-154	+5% $-219	+10% $-284
Rent	-10% $-283	-5% $-218	+0% $-154	+5% $-90	+10% $-26
Rate	-1.0pp $-38	-0.5pp $-96	base $-154	+0.5pp $-214	+1.0pp $-275

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5213 E Prospect St Sioux Falls, SD	4.0	2.0	1750	$1,995	$1.14	22d	1	0.17mi
5500 E Active Generations Pl Sioux Falls, SD	1.0–2.0	1.0–2.5	1009	$1,505	$1.49	14d	3	0.26mi
5501 E 18th St Sioux Falls, SD	3.0	1.0–2.0	944	$1,745	$1.85	14d	23	0.34mi
5009 E Linden Ln Sioux Falls, SD	2.0	2.0	1400	$1,495	$1.07	14d	1	0.45mi
5700 Hitching Pl Unit 5725 Sioux Falls, SD	3.0	2.5	1435	$1,650	$1.15	44d	1	0.75mi
5700 Radiant Pl Unit 5725 Sioux Falls, SD	3.0	2.5	1435	$1,700	$1.18	22d	1	0.80mi
6006 E Copper PL Sioux Falls, SD	3.0	2.5	1527	$1,800	$1.18	22d	1	0.93mi
2200 S Daylight Dr Sioux Falls, SD	3.0	1.0–2.0	987	$1,705	$1.73	14d	25	0.96mi
2121 S Silverthorne Ave Sioux Falls, SD	3.0	1.0–2.0	1030	$1,560	$1.51	14d	31	1.06mi
4620 E 6th St Unit 4624-7 Sioux Falls, SD	2.0	2.0	1200	$1,095	$0.91	44d	1	1.06mi
1804 S Stephen Ave Sioux Falls, SD	2.0	1.5	1050	$850	$0.81	22d	1	1.09mi
6544 E Pine Grove Pl Sioux Falls, SD	3.0	2.0	1557	$2,240	$1.44	14d	1	1.11mi
418 S Hein Ave Sioux Falls, SD	3.0	1.0–2.5	888	$1,645	$1.85	14d	25	1.14mi
4509-4515 E 3rd St Sioux Falls, SD	3.0	1.5	1050	$984	$0.94	44d	1	1.24mi
626 N Sycamore Ave #204 Sioux Falls, SD	3.0	2.0	1260	$999	$0.79	22d	1	1.26mi
3032 E Bragstad Dr Sioux Falls, SD	3.0	1.0	1055	$1,395	$1.32	44d	1	1.38mi
1210 S Majestic View Pl Sioux Falls, SD	2.0–3.0	1.5–2.0	1170	$1,220	$1.04	14d	3	1.43mi
7412 E 26th St Sioux Falls, SD	3.0	1.0–2.5	893	$1,650	$1.85	14d	142	1.46mi
1904 S Cleveland Ave Sioux Falls, SD	2.0	1.0	1055	$1,050	$1.00	14d	1	1.48mi
3225 S Sycamore Ave Unit 202 Sioux Falls, SD	2.0	2.0	1200	$975	$0.81	44d	1	1.49mi
2811 A Ave Sioux Falls, SD	3.0	1.0–2.5	1086	$2,215	$2.04	14d	55	1.49mi
1966 S Cleveland Ave Sioux Falls, SD	2.0	1.0	1055	$1,095	$1.04	44d	1	1.50mi

Listing history 2 events

1. 2026-06-13
   statusdays on market $230,000 Pending 2 DOM
2. 2026-06-10
   listed $230,000 Active 1 DOM

ⓘ 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: $1,628 · $136/mo
• Projected year-2 tax: $3,013 · $251/mo
• Expected delta: +$1,386/yr (+$115/mo · 85.1%)

ⓘ 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 ≥99°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: $19,494
• − Mortgage interest: −$12,884
• − Property taxes: −$1,628
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,559
• − Management: −$1,559
• − Depreciation: −$6,691
• Taxable loss: −$5,977
• Est. tax savings @ 24.0%: +$1,435
• After-tax cash flow: $-417/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: Sioux Falls School District 49-5
• NCES district ID: 4666270
• Math proficiency: 39% ▼ -4.00%
• Reading proficiency: 48% ▼ -2.00%
• Median HH income: $51,093
• Composite: 37.47/100
• National rank: #4407
• State rank: #45 of 59 in SD

Livability — Sioux Falls

• Score: 85/100
• State rank: #3
• US rank: #610

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sioux Falls, SD
• County: Minnehaha County · 191,523 people
• City population: 207,623
• Metro: Sioux Falls, SD
• Population (ZIP): 23,313
• Household income: $88,955
• Rent vs Own: 34.1% rent · 65.9% own
• Severe rent burden: 635.0

Population outlook (Minnehaha County) Hauer SSP2

• Today (2025): 222,323 people
• By 2030: 241,430 · +8.6%
• By 2040: 281,643 · +26.7%
• By 2050: 325,574 · +46.4%
• By 2075: 469,313 · +111.1%
• By 2100: 664,763 · +199.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Black 7% Two or more races 5% Hispanic / Latino 5% Asian 4%
• Common ancestry: Portuguese 11% Iranian 8% Romanian 2%
• Foreign-born: 12% · Canada, India, South Korea
• Languages at home: 85% English-only · Spanish 5% Other Indo-European 3% Other Asian/Pacific 1%

Political lean MEDSL · Minnehaha

• 2024 margin: R (+12.7) · D 42.5% · R 55.2% · Other 2.4%
• 2008→2024 swing: -13.4pp toward R · 2008: 0.7pp · 2024: -12.7pp
• All cycles: 2024: R+12.7 2020: R+9.5 2016: R+14.6 2012: R+7.4 2008: D+0.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -88.96%
• Current HPI: 211.5301
• Rent YoY: ▲ 3.46%
• Metro: Sioux Falls, 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

1 event — show timeline

• 2026-06-09 Listed $230,000 REALTOR® Association of the Sioux Empire

Property tax history

-0.9%/yr

Latest (2024): $1,628 · -3.8% YoY. Source: county tax records.