530 N Minnesota St · Salem, SD 57058

$65,000

3 bd · 1.0 ba · 1,332 sqft · SingleFamily public records · 16 Days on market

Built 1905

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Why this score? — see what drove the A- 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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Sweat equity builder!!! Three bed one Full bath main floor laundry. Three season porch.

Key facts

• Ac replaced
• New walk in shower
• Furnace replaced

Tags

• AC REPLACED
• WATER HEATER REPLACED
• FURNACE REPLACED
• NEW WALK IN SHOWER
• HARDWOOD FLOORS
• EXTERIOR PAINTED

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $327 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $64k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 72/100 on livability (#45 in SD) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety D-.
• Mccook Central School District 43-7 (rural): math 44% / reading 50% proficiency, ranked #87 of 148 in SD (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 33 active listings in the ZIP; 22 units permitted in McCook County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($449 loan paydown + $6k appreciation (10.0% local appreciation)).
• McCook County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y 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 1905 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $64,025 (1.5% below list)

Questions for the listing agent

1. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.56% ✓
• Cap rate: 12.32%
• Cash-on-cash: 21.54%
• DSCR: 1.96
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $219,780
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
330 E Vermont Ave	0.18mi	3/1.0	1,370 (+3%)	15mo	$137,750	$101	74
331 E Norton Ave Ave	0.29mi	3/1.0	1,240 (-7%)	4mo	$222,000	$179	71
310 W Washington Ave Ave	0.35mi	3/2.0	1,320 (-1%)	8mo	$170,000	$129	71
630 N Nebraska St	0.23mi	3/2.0	1,200 (-10%)	10mo	$240,000	$200	60
331 W Franklin Ave Ave	0.38mi	2/2.0 (-1)	1,448 (+9%)	6mo	$215,000	$148	54
230 W Washington Ave	0.29mi	3/1.0	1,143 (-14%)	16mo	$169,900	$149	50
101 S Hill St	0.35mi	3/2.0	1,200 (-10%)	18mo	$198,500	$165	48
441 S Hill St	0.64mi	3/1.5	1,144 (-14%)	12mo	$285,000	$249	35

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 40.4%
• Equity multiple: 4.09×
• Total profit: $56,241
• Equity at exit: $58,557

10-year hold

• IRR: 34.9%
• Equity multiple: 9.20×
• Total profit: $149,317
• Equity at exit: $126,281

Cash invested: $18,200 (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 57058

• Home prices YoY: 3.4%
• Active inventory: 33
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,014 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$107 /mo · $1,280/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$213
• Net cashflow: $327

Break-even live

Break-even rent $601

Max offer price $65,000

Occupancy floor 63%

Sensitivity live

Price	-10% $364	-5% $345	+0% $327	+5% $308	+10% $290
Rent	-10% $247	-5% $287	+0% $327	+5% $367	+10% $407
Rate	-1.0pp $359	-0.5pp $343	base $327	+0.5pp $310	+1.0pp $293

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-21
   days on market $65,000 Active 16 DOM
2. 2026-06-21
   days on market $65,000 Active 15 DOM
3. 2026-06-18
   days on market $65,000 Active 13 DOM
4. 2026-06-17
   days on market $65,000 Active 12 DOM
5. 2026-06-16
   days on market $65,000 Active 11 DOM
6. 2026-06-15
   days on market $65,000 Active 10 DOM
7. 2026-06-13
   days on market $65,000 Active 8 DOM
8. 2026-06-12
   days on market $65,000 Active 7 DOM
9. 2026-06-09
   days on market $65,000 Active 4 DOM
10. 2026-06-08
    days on market $65,000 Active 3 DOM
11. 2026-06-08
    listed $65,000 Active 2 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: $1,280 · $107/mo
• Projected year-2 tax: $1,280 · $107/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 68% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 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: $12,172
• − Mortgage interest: −$3,641
• − Property taxes: −$1,280
• − Insurance: −$325
• − Repairs & maintenance: −$974
• − Management: −$974
• − Depreciation: −$1,891
• Taxable income: $3,088
• Est. tax owed @ 24.0%: −$741
• After-tax cash flow: $3,180/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: Mccook Central School District 43-7
• NCES district ID: 4601026
• Math proficiency: 44% ▲ 9.00%
• Reading proficiency: 50% ▬ 0.00%
• Median HH income: $50,476
• Composite: 42.47/100
• National rank: #6885
• State rank: #87 of 148 in SD

Livability — Salem

• Score: 72/100
• State rank: #45
• US rank: #6367

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Salem, SD
• Population (ZIP): 1,792

Population outlook (McCook County) Hauer SSP2

• Today (2025): 5,591 people
• By 2030: 5,617 · +0.5%
• By 2040: 5,771 · +3.2%
• By 2050: 5,996 · +7.2%
• By 2075: 7,870 · +40.8%
• By 2100: 11,517 · +106.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 4% Native American 3% Two or more races 3%
• Common ancestry: Iranian 10% Portuguese 6% Danish 1%
• Foreign-born: 0%
• Languages at home: 97% English-only · German/W. Germanic 2% Spanish 1%

Political lean MEDSL · McCook

• 2024 margin: Solid R (+49.3) · D 24.2% · R 73.5% · Other 2.3%
• 2008→2024 swing: -34.8pp toward R · 2008: -14.5pp · 2024: -49.3pp
• All cycles: 2024: R+49.3 2020: R+44.8 2016: R+45.3 2012: R+28.7 2008: R+14.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 10.27%
• Current HPI: 310.2326
• 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

+16.1% since first listed

4 events — show timeline

• 2026-06-06 Listed $65,000 FSBO.com
• 2019-03-07 Listed $35,000 REALTOR® Association of the Sioux Empire
• 2018-05-02 Listing Removed — REALTOR® Association of the Sioux Empire
• 2018-02-06 Listed $56,000 REALTOR® Association of the Sioux Empire

Property tax history

+2.2%/yr

Latest (2025): $1,280 · -5.3% YoY. Source: county tax records.