208 Mercury St · Pierre, SD 57501

$124,000

3 bd · 2.0 ba · 1,280 sqft · Manufactured public records · 8 Days on market

Built 2012 Est $145k · 14% 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 +28.4/30.0
• ARV discount +13.9/15.0
• DSCR +10.0/10.0
• 1% rule +6.7/10.0
• Schools +4.4/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Its affordable, it's efficient, it's neat and tidy and it's move in ready! 3 bedrooms, 2 full baths, new faucets & ceiling fans, washer /dryer stay, deck & roof are only a year old and detached garage is only 3 years old. Storage shed included. Call your favorite realtor to set up an appointment to look soon. .. .. .this will go fast! Must be approved through Northstar, lot rent is $250/m.

Key facts

• New water softener
• New doors
• New storm doors

Tags

• WOOD LAP EXTERIOR SIDING
• BLACK CHAIN LINK FENCE
• VERICORE FLOATING VINYL PLANK
• NEW WATER SOFTENER
• NEW DOORS
• NEW STORM DOORS

Property features AI

Exterior

• Parking: 1-car garage
• Home design: Single family residence; Residential property
• Construction: Wood siding; Champion mobile home (80 ft)
• Exterior features: Chain link fencing with gate; Fenced yard

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Flooring: Laminate flooring; Carpet flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Ceiling fan(s); Central cooling
• Interior features: Window coverings; Water softener
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $124k.

Deal economics

• At list price, monthly cash flow is $401 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $124k).
• Cap rate 10.2% vs local median 3.4% in Pierre — 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 74/100 on livability (#31 in SD, #4,502 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Pierre School District 32-2 (town): math 47% / reading 54% proficiency, ranked #24 of 59 in SD (top 41%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Georgia Morse Middle School - 02 (math 46% / reading 53%, grade C, #55 of 143 statewide, top 46%, 684 students, 26% FRL) — zoned schools at 26% FRL track the district average.
• Market conditions: 129 active listings in the ZIP; solid renter incomes; 135 units permitted in Hughes County in 2024 (115 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $857 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Hughes County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 6y 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.
• Current owner paid $59k; list at $124k implies a 109% gain — meaningful room to come down on a strong offer.

Recommended offer $124,000

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. 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?
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: 1.17% ✓
• Cap rate: 10.18%
• Cash-on-cash: 13.87%
• DSCR: 1.62
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $144,640
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1649 Northstar Ct	0.18mi	3/2.0	1,152 (-10%)	4mo	$130,000	$113	72

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: 4.0%
• Equity multiple: 1.16×
• Total profit: $5,417
• Equity at exit: $18,489

10-year hold

• IRR: 13.5%
• Equity multiple: 2.08×
• Total profit: $37,438
• Equity at exit: $10,721

Cash invested: $34,720 (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 57501

• Active inventory: 129
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,453 medium
• Mortgage (P&I): −$650
• Tax from tax record: −$45 /mo · $538/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$305
• Net cashflow: $401

Break-even live

Break-even rent $945

Max offer price $124,000

Occupancy floor 67%

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: $31,000
• Closing costs: $3,720
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-19
   days on market $124,000 Active 8 DOM
2. 2026-06-18
   days on market $124,000 Active 7 DOM
3. 2026-06-17
   days on market $124,000 Active 6 DOM
4. 2026-06-16
   days on market $124,000 Active 5 DOM
5. 2026-06-15
   days on market $124,000 Active 4 DOM
6. 2026-06-14
   days on market $124,000 Active 2 DOM
7. 2026-06-12
   listed $124,000 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: $538 · $45/mo
• Projected year-2 tax: $1,624 · $135/mo
• Expected delta: +$1,087/yr (+$91/mo · 202.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌡 Heat 3/10 Moderate
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,438
• − Mortgage interest: −$6,946
• − Property taxes: −$538
• − Insurance: −$620
• − Repairs & maintenance: −$1,395
• − Management: −$1,395
• − Depreciation: −$3,607
• Taxable income: $2,937
• Est. tax owed @ 24.0%: −$705
• After-tax cash flow: $4,110/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: Pierre School District 32-2
• NCES district ID: 4655260
• Math proficiency: 47% ▼ -6.00%
• Reading proficiency: 54% ▼ -4.00%
• Median HH income: $57,931
• Composite: 43.93/100
• National rank: #2909
• State rank: #24 of 59 in SD

Livability — Pierre

• Score: 74/100
• State rank: #31
• US rank: #4502

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pierre, SD
• County: Hughes County · 17,326 people
• City population: 17,326
• Metro: Pierre, SD
• Population (ZIP): 17,326
• Household income: $81,791
• Rent vs Own: 28.0% rent · 72.0% own
• Severe rent burden: 226.0

Population outlook (Hughes County) Hauer SSP2

• Today (2025): 18,429 people
• By 2030: 18,861 · +2.3%
• By 2040: 19,778 · +7.3%
• By 2050: 20,979 · +13.8%
• By 2075: 27,077 · +46.9%
• By 2100: 36,716 · +99.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Native American 11% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Portuguese 12% Iranian 4% Romanian 2%
• Foreign-born: 1% · Vietnam, Canada
• Languages at home: 96% English-only · Spanish 2% Vietnamese 1%

Political lean MEDSL · Hughes

• 2024 margin: Solid R (+30.1) · D 33.6% · R 63.8% · Other 2.6%
• 2008→2024 swing: -3.4pp toward R · 2008: -26.7pp · 2024: -30.1pp
• All cycles: 2024: R+30.1 2020: R+29.4 2016: R+33.4 2012: R+29.8 2008: R+26.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -129.77%
• Current HPI: 198.7322
• Rent YoY: —
• Metro: Pierre, 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

+359.3% since first listed

4 events — show timeline

• 2026-06-11 Listed $124,000 CSDBR
• 2021-02-24 Sold (MLS) $59,200 CSDBR
• 2020-09-23 Listed $64,500 CSDBR
• 2016-07-20 Sold (Public Records) $27,000 Public Records

Property tax history

+5.7%/yr

Latest (2025): $538 · -0.1% YoY. Source: county tax records.