510 Main St St · Chancellor, SD 57015

$155,000

3 bd · 1.0 ba · 728 sqft · SingleFamily public records · 28 Days on market

Built 1922 9,750 sqft lot $213/sqft · 21% above area Est $245k · 37% under ↓ 28% since listing

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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 +7.0/30.0
• Schools +5.2/10.0
• Appreciation +4.9/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.2/10.0
• 1% rule +1.1/10.0

Listing remarks MLS

Many updates done on this small town home. This home features new windows, shingles and paint along with others all within the last 2-3 years. It sits on a lot and a half with more than enough room to build a larger garage if needed. 3 bedrooms on one level and a cozy family room in the basement.

Key facts

• 9,750 sq ft lot
• Garage
• Built 1922

Property features AI

Finance

• Financial info: Annual tax amount listed

Exterior

• Parking: Detached garage (1 car) with dimensions approximately 21 x 16
• Utilities: Public water; Public sewer
• Home design: Single family residence; 1.5-story architectural style; Above-grade finished area approximately 1,392
• Construction: Synthetic stucco exterior
• Exterior features: Owned land; Composition roof; Other foundation type

Interior

• Kitchen: Kitchen located on the main level (approx. 9 x 12)
• Bedrooms: Three bedrooms on the upper level; Master bedroom on the upper level (approx. 13 x 12); Second bedroom on the upper level (approx. 11 x 12); Third bedroom on the upper level (approx. 8 x 10)
• Flooring: Carpet; Laminate
• Bathrooms: One full bathroom
• Heating & cooling: Propane heating; Electric water heater
• Interior features: Main floor laundry; Full basement; Front sunroom
• Laundry & utility: Main floor laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $-228 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $115k (26.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $95k (38.6% below list).
• Recommended offer: $95k (38.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 63/100 on livability (#205 in SD) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, amenities F, commute F.
• Lennox School District 41-4 (rural): math 56% / reading 64% proficiency, ranked #5 of 59 in SD (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 12% free/reduced lunch — higher-income household profile.
• Zoned schools: Lennox Elementary - 02 (math 72% / reading 67%, grade A-, #19 of 253 statewide, top 12%, 369 students, 16% FRL); Lennox Jr. High - 08 (math 57% / reading 67%, grade B+, #13 of 143 statewide, top 11%, 189 students, 15% FRL); Lennox High School - 01 (math 32% / reading 77%, grade C-, #53 of 151 statewide, top 41%, 359 students, 14% FRL) — zoned schools at 15% FRL track the district average.
• Market conditions: 8 active listings in the ZIP; 29 units permitted in Turner County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $903 of equity ($1k loan paydown + $-169 appreciation (-0.1% local appreciation)).
• Turner County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($153k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $95,145 (38.6% 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 1922 — 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 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. 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?
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: 0.61% ✗
• Cap rate: 4.53%
• Cash-on-cash: -6.31%
• DSCR: 0.72
• GRM: 13.6

CMA / ARV

• ARV (median comp): $244,596
• List price: $155,000
• Delta: -36.63%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Projected returns pro-forma

-0.11% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -9.9%
• Equity multiple: 0.54×
• Total profit: $-19,900
• Equity at exit: $44,162

10-year hold

• IRR: -3.7%
• Equity multiple: 0.61×
• Total profit: $-16,766
• Equity at exit: $52,415

Cash invested: $43,400 (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 57015

• Home prices YoY: -0.1%
• Active inventory: 8
• Price-to-rent: 13.6×

Monthly cashflow live

• Estimated rent: $951 medium
• Mortgage (P&I): −$813
• Tax from tax record: −$102 /mo · $1,228/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$200
• Net cashflow: $-228

Break-even live

Break-even rent $1,240

Max offer price $114,701

Occupancy floor —

Sensitivity live

Price	-10% $-140	-5% $-184	+0% $-228	+5% $-272	+10% $-316
Rent	-10% $-303	-5% $-266	+0% $-228	+5% $-191	+10% $-153
Rate	-1.0pp $-150	-0.5pp $-189	base $-228	+0.5pp $-268	+1.0pp $-309

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-04-23
   listed $155,000 Active 270-char remark
2. 2022-09-02
   status Pending 297-char remark

   Show marketing remark (297 chars)

   Many updates done on this small town home. This home features new windows, shingles and paint along with others all within the last 2-3 years. It sits on a lot and a half with more than enough room to build a larger garage if needed. 3 bedrooms on one level and a cozy family room in the basement.

3. 2022-09-02
   soldstatus $210,000 Sold 297-char remark

   Show marketing remark (297 chars)

   Many updates done on this small town home. This home features new windows, shingles and paint along with others all within the last 2-3 years. It sits on a lot and a half with more than enough room to build a larger garage if needed. 3 bedrooms on one level and a cozy family room in the basement.

4. 2022-07-23
   historical Active - Contingent Misc 297-char remark

   Show marketing remark (297 chars)

   Many updates done on this small town home. This home features new windows, shingles and paint along with others all within the last 2-3 years. It sits on a lot and a half with more than enough room to build a larger garage if needed. 3 bedrooms on one level and a cozy family room in the basement.

5. 2022-07-13
   listed $215,000 Active - New 297-char remark

   Show marketing remark (297 chars)

   Many updates done on this small town home. This home features new windows, shingles and paint along with others all within the last 2-3 years. It sits on a lot and a half with more than enough room to build a larger garage if needed. 3 bedrooms on one level and a cozy family room in the basement.

ⓘ 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: $1,228 · $102/mo
• Projected year-2 tax: $2,030 · $169/mo
• Expected delta: +$802/yr (+$67/mo · 65.3%)

ⓘ 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 2/10 Low 7 d/yr ≥101°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: $11,417
• − Mortgage interest: −$8,682
• − Property taxes: −$1,228
• − Insurance: −$775
• − Repairs & maintenance: −$913
• − Management: −$913
• − Depreciation: −$4,509
• Taxable loss: −$5,604
• Est. tax savings @ 24.0%: +$1,345
• After-tax cash flow: $-1,393/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: Lennox School District 41-4
• NCES district ID: 4641550
• Math proficiency: 56% ▲ 3.00%
• Reading proficiency: 64% ▲ 2.00%
• Median HH income: $63,780
• Composite: 52.37/100
• National rank: #1584
• State rank: #5 of 59 in SD

Livability — Chancellor

• Score: 63/100
• State rank: #205
• US rank: #15891

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: Chancellor, SD
• Population (ZIP): 815

Population outlook (Turner County) Hauer SSP2

• Today (2025): 8,006 people
• By 2030: 7,850 · -1.9%
• By 2040: 7,446 · -7.0%
• By 2050: 6,970 · -12.9%
• By 2075: 6,241 · -22.0%
• By 2100: 5,788 · -27.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Native American 2% Asian 1%
• Common ancestry: Portuguese 11% Iranian 4% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Other Asian/Pacific 2% German/W. Germanic 1%

Political lean MEDSL · Turner

• 2024 margin: Solid R (+51.3) · D 23.0% · R 74.3% · Other 2.6%
• 2008→2024 swing: -31.7pp toward R · 2008: -19.7pp · 2024: -51.3pp
• All cycles: 2024: R+51.3 2020: R+47.3 2016: R+47.6 2012: R+31.0 2008: R+19.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.11%
• Current HPI: 172.5466
• 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

-27.9% since first listed

6 events — show timeline

• 2026-05-22 Pending — REALTOR® Association of the Sioux Empire
• 2026-04-23 Listed $155,000 REALTOR® Association of the Sioux Empire
• 2022-09-02 Pending — REALTOR® Association of the Sioux Empire
• 2022-09-02 Sold (MLS) $210,000 REALTOR® Association of the Sioux Empire
• 2022-07-23 Contingent — REALTOR® Association of the Sioux Empire
• 2022-07-13 Listed $215,000 REALTOR® Association of the Sioux Empire

Property tax history

+6.7%/yr

Latest (2025): $1,228 · +3.9% YoY. Source: county tax records.