112 W 5th Ave · Milbank, SD 57252

$104,000

5 bd · 3.0 ba · 2,184 sqft · Other · 1 Days on market

Built 1900 1.12 ac lot

---

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 +28.1/30.0
• DSCR +10.0/10.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• Schools +4.6/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• 1.12 acre lot
• Built 1900

Property features AI

Exterior

• Home design: Duplex residential income property; Three or more levels
• Exterior features: Lot approximately 1.12 acres; Lot dimensions about 50 x 77

Interior

• Bathrooms: 3 full bathrooms
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath other listed at $104k.

Deal economics

• At list price, monthly cash flow is $328 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $104k).

Location & tenants

• Location reads 77/100 on livability (#19 in SD, #3,182 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Milbank School District 25-4 (town): math 46% / reading 61% proficiency, ranked #19 of 59 in SD (top 32%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Milbank Elementary - 03 (math 52% / reading 57%, grade C, #87 of 253 statewide, top 38%, 437 students, 34% FRL); Milbank Middle School - 02 (math 47% / reading 59%, grade C+, #43 of 143 statewide, top 30%, 229 students, 26% FRL); Milbank High School - 01 (math 32% / reading 72%, grade D+, #65 of 151 statewide, top 43%, 359 students, 22% FRL) — zoned schools at 28% FRL track the district average.
• Market conditions: 37 active listings in the ZIP; 22 units permitted in Grant County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $719 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Grant County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $104,000

Questions for the listing agent

1. Built in 1900 — 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: 1.27% ✓
• Cap rate: 10.07%
• Cash-on-cash: 13.51%
• DSCR: 1.60
• GRM: 6.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 3.6%
• Equity multiple: 1.14×
• Total profit: $4,044
• Equity at exit: $15,507

10-year hold

• IRR: 13.1%
• Equity multiple: 2.05×
• Total profit: $30,484
• Equity at exit: $8,992

Cash invested: $29,120 (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 57252

• Active inventory: 37
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,325 medium
• Mortgage (P&I): −$545
• Tax est. 1.5%: −$130 /mo · $1,560/yr
• Insurance: −$43
• HOA: −$0
• Vacancy / Maint / Mgmt: −$278
• Net cashflow: $328

Break-even live

Break-even rent $910

Max offer price $104,000

Occupancy floor 70%

Sensitivity live

Price	-10% $400	-5% $364	+0% $328	+5% $292	+10% $256
Rent	-10% $223	-5% $275	+0% $328	+5% $380	+10% $432
Rate	-1.0pp $380	-0.5pp $354	base $328	+0.5pp $301	+1.0pp $273

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: $26,000
• Closing costs: $3,120
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-01
   status Pending
2. 2026-05-01
   listed $104,000 Active

ⓘ 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 FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 13 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: $15,896
• − Mortgage interest: −$5,826
• − Property taxes: −$1,560
• − Insurance: −$520
• − Repairs & maintenance: −$1,272
• − Management: −$1,272
• − Depreciation: −$3,025
• Taxable income: $2,422
• Est. tax owed @ 24.0%: −$581
• After-tax cash flow: $3,352/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: Milbank School District 25-4
• NCES district ID: 4600002
• Math proficiency: 46% ▲ 3.00%
• Reading proficiency: 61% ▼ -1.00%
• Median HH income: $49,055
• Composite: 45.54/100
• National rank: #2604
• State rank: #19 of 59 in SD

Livability — Milbank

• Score: 77/100
• State rank: #19
• US rank: #3182

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Milbank, SD
• Population (ZIP): 4,882

Population outlook (Grant County) Hauer SSP2

• Today (2025): 6,713 people
• By 2030: 6,458 · -3.8%
• By 2040: 5,990 · -10.8%
• By 2050: 5,667 · -15.6%
• By 2075: 5,925 · -11.7%
• By 2100: 7,228 · +7.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Hispanic / Latino 9% Two or more races 3% Native American 3%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Portuguese 17% Iranian 6% English 1%
• Foreign-born: 8% · Canada
• Languages at home: 88% English-only · Spanish 8% German/W. Germanic 3% Korean 1%

Political lean MEDSL · Grant

• 2024 margin: Solid R (+45.4) · D 26.1% · R 71.5% · Other 2.5%
• 2008→2024 swing: -41.1pp toward R · 2008: -4.3pp · 2024: -45.4pp
• All cycles: 2024: R+45.4 2020: R+41.7 2016: R+39.6 2012: R+15.0 2008: R+4.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -106.85%
• Current HPI: 160.3639
• 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

2 events — show timeline

• 2026-05-01 Pending — NESD
• 2026-05-01 Listed $104,000 NESD