407 W Main St St · Delmont, SD 57330

$45,000

3 bd · None ba · 1,680 sqft · Other · 100 Days on market

Built 1901 1.00 ac lot $27/sqft · 50% below area

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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
• Appreciation +5.0/10.0
• Schools +3.2/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Project house on a large lot near the edge of town. New shingles and vinyl siding in 2016.

Key facts

• Large lot
• New shingles
• Vinyl siding

Tags

• LARGE LOT
• NEW SHINGLES
• VINYL SIDING

What this means for you Summary

Snapshot

• This is a 3-bed/?-bath other listed at $45k.

Deal economics

• At list price, monthly cash flow is $651 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $41k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#214 in SD) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D+, crime D, amenities F.
• Tripp-Delmont School District 33-5 (rural): math 35% / reading 35% proficiency, ranked #124 of 148 in SD (top 84%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 1 active listings in the ZIP; 6 units permitted in Douglas County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($311 loan paydown + $1k appreciation (3.0% local appreciation)).
• Douglas County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 100 days — a 9% lower offer ($41k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; list at $45k implies a 50% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1901 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $40,950 (9.0% below list)

Questions for the listing agent

1. It's been on market 100 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1901 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 2.71% ✓
• Cap rate: 23.64%
• Cash-on-cash: 61.97%
• DSCR: 3.76
• GRM: 3.1

CMA / ARV

• ARV (median comp): $90,465
• List price: $45,000
• Delta: -50.26%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 66.8%
• Equity multiple: 4.72×
• Total profit: $46,880
• Equity at exit: $20,234

10-year hold

• IRR: 66.3%
• Equity multiple: 9.64×
• Total profit: $108,842
• Equity at exit: $31,183

Cash invested: $12,600 (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 57330

• Active inventory: 1
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,217 medium
• Mortgage (P&I): −$236
• Tax est. 1.5%: −$56 /mo · $675/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $651

Break-even live

Break-even rent $394

Max offer price $45,000

Occupancy floor 42%

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $45,000 Active 100 DOM
2. 2026-06-17
   days on market $45,000 Active 99 DOM
3. 2026-06-16
   days on market $45,000 Active 98 DOM
4. 2026-06-15
   days on market $45,000 Active 97 DOM
5. 2026-06-13
   days on market $45,000 Active 95 DOM
6. 2026-06-12
   days on market $45,000 Active 94 DOM
7. 2026-06-09
   days on market $45,000 Active 91 DOM
8. 2026-06-08
   days on market $45,000 Active 90 DOM
9. 2026-06-08
   days on market $45,000 Active 89 DOM
10. 2026-06-05
    days on market $45,000 Active 87 DOM
11. 2026-06-04
    days on market $45,000 Active 85 DOM
12. 2026-06-02
    days on market $45,000 Active 84 DOM
13. 2026-06-01
    days on market $45,000 Active 83 DOM
14. 2026-05-31
    days on market $45,000 Active 82 DOM
15. 2026-04-18
    price $45,000 90-char remark

    Show marketing remark (90 chars)

    Project house on a large lot near the edge of town. New shingles and vinyl siding in 2016.

16. 2026-03-09
    listed $60,000 Active 90-char remark

    Show marketing remark (90 chars)

    Project house on a large lot near the edge of town. New shingles and vinyl siding in 2016.

17. 2025-11-24
    historical
18. 2025-08-29
    listed $60,000 Active
19. 2021-12-29
    soldstatus $30,000

ⓘ 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 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°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: $14,607
• − Mortgage interest: −$2,521
• − Property taxes: −$675
• − Insurance: −$225
• − Repairs & maintenance: −$1,169
• − Management: −$1,169
• − Depreciation: −$1,309
• Taxable income: $7,540
• Est. tax owed @ 24.0%: −$1,810
• After-tax cash flow: $5,998/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: Tripp-Delmont School District 33-5
• NCES district ID: 4672450
• Math proficiency: 35% ▼ -5.00%
• Reading proficiency: 35% ▼ -10.00%
• Median HH income: $41,166
• Composite: 32.13/100
• National rank: #10980
• State rank: #124 of 148 in SD

Livability — Delmont

• Score: 62/100
• State rank: #214
• US rank: #16708

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Delmont, SD
• City population: 548
• Population (ZIP): 548

Population outlook (Douglas County) Hauer SSP2

• Today (2025): 2,874 people
• By 2030: 2,835 · -1.4%
• By 2040: 2,795 · -2.7%
• By 2050: 2,780 · -3.3%
• By 2075: 3,181 · +10.7%
• By 2100: 3,649 · +27.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 5% Hispanic / Latino 2% Native American 1%
• Common ancestry: Subsaharan African 9% Portuguese 6% Lithuanian 3%
• Languages at home: 89% English-only · German/W. Germanic 10% Spanish 1%

Political lean MEDSL · Douglas

• 2024 margin: Solid R (+72.4) · D 13.2% · R 85.6% · Other 1.2%
• 2008→2024 swing: -22.9pp toward R · 2008: -49.5pp · 2024: -72.4pp
• All cycles: 2024: R+72.4 2020: R+73.3 2016: R+70.0 2012: R+59.3 2008: R+49.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+50.0% since first listed

5 events — show timeline

• 2026-04-18 Price Changed $45,000 REALTOR® Association of the Sioux Empire
• 2026-03-09 Listed $60,000 REALTOR® Association of the Sioux Empire
• 2025-11-24 Listing Removed — REALTOR® Association of the Sioux Empire
• 2025-08-29 Listed $60,000 REALTOR® Association of the Sioux Empire
• 2021-12-29 Sold (Public Records) $30,000 Public Records