304 S 2nd Ave · Woonsocket, SD 57385

$84,900

3 bd · 1.0 ba · 1,056 sqft · Other · 12 Days on market

Built 1920

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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 +26.3/30.0
• DSCR +8.9/10.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• Appreciation +5.0/10.0
• Schools +4.1/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• Outdoor living
• Garage
• Built 1920

Tags

• OUTDOOR LIVING

Property features AI

Exterior

• Parking: Attached garage with garage door opener; 1 garage space
• Home design: Residential property
• Exterior features: Paved road access

Interior

• Kitchen: Refrigerator; Freezer
• Heating & cooling: Central cooling
• Interior features: Central cooling; Freezer included; Refrigerator included
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $85k.

Deal economics

• At list price, monthly cash flow is $220 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).

Location & tenants

• Location reads 66/100 on livability (#113 in SD) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, crime F, amenities F.
• Woonsocket School District 55-4 (rural): math 40% / reading 50% proficiency, ranked #101 of 148 in SD (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 5 active listings in the ZIP; 11 units permitted in Sanborn County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($587 loan paydown + $3k appreciation (3.0% local appreciation)).
• Sanborn County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $84,900

Questions for the listing agent

1. Built in 1920 — 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. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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?
5. 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.
6. 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.
7. 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: 1.20% ✓
• Cap rate: 9.40%
• Cash-on-cash: 11.11%
• DSCR: 1.49
• GRM: 6.9

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: 17.9%
• Equity multiple: 2.02×
• Total profit: $24,260
• Equity at exit: $38,175

10-year hold

• IRR: 19.3%
• Equity multiple: 3.81×
• Total profit: $66,754
• Equity at exit: $58,832

Cash invested: $23,772 (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 57385

• Active inventory: 5
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,021 medium
• Mortgage (P&I): −$445
• Tax est. 1.5%: −$106 /mo · $1,274/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$214
• Net cashflow: $220

Break-even live

Break-even rent $743

Max offer price $84,900

Occupancy floor 73%

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: $21,225
• Closing costs: $2,547
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-09
   statusdays on market $84,900 Pending 12 DOM
2. 2026-06-08
   days on market $84,900 Active 11 DOM
3. 2026-06-08
   days on market $84,900 Active 10 DOM
4. 2026-06-05
   days on market $84,900 Active 8 DOM
5. 2026-06-04
   days on market $84,900 Active 6 DOM
6. 2026-06-02
   days on market $84,900 Active 5 DOM
7. 2026-06-01
   days on market $84,900 Active 4 DOM
8. 2026-05-31
   days on market $84,900 Active 3 DOM
9. 2026-05-22
   listed $84,900 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 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°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: $12,255
• − Mortgage interest: −$4,756
• − Property taxes: −$1,274
• − Insurance: −$424
• − Repairs & maintenance: −$980
• − Management: −$980
• − Depreciation: −$2,470
• Taxable income: $1,371
• Est. tax owed @ 24.0%: −$329
• After-tax cash flow: $2,312/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: Woonsocket School District 55-4
• NCES district ID: 4680190
• Math proficiency: 40% ▬ 0.00%
• Reading proficiency: 50% ▬ 0.00%
• Median HH income: $47,841
• Composite: 40.63/100
• National rank: #7641
• State rank: #101 of 148 in SD

Livability — Woonsocket

• Score: 66/100
• State rank: #113
• US rank: #11322

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Woonsocket, SD
• Population (ZIP): 1,365

Population outlook (Sanborn County) Hauer SSP2

• Today (2025): 2,335 people
• By 2030: 2,377 · +1.8%
• By 2040: 2,400 · +2.8%
• By 2050: 2,492 · +6.7%
• By 2075: 3,110 · +33.2%
• By 2100: 3,806 · +63.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Portuguese 15% Iranian 5% Lithuanian 3%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Sanborn

• 2024 margin: Solid R (+55.3) · D 21.4% · R 76.7% · Other 2.0%
• 2008→2024 swing: -41.3pp toward R · 2008: -14.0pp · 2024: -55.3pp
• All cycles: 2024: R+55.3 2020: R+54.7 2016: R+51.5 2012: R+26.8 2008: R+14.0

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

1 event — show timeline

• 2026-05-22 Listed $84,900 HBOR