325 W 6th St

Winner, SD 57580

$128,000C-

3 bd · 2.0 ba · 1,894 sqft · Built 1940 · SingleFamily · Active · 352 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,347/mo
• Mortgage (P&I): −$671
• Tax + insurance: −$168
• HOA: −$0
• Vac / Maint / Mgmt: −$283
• Net cashflow: $225/mo
• Annual: $2,697/yr
• Cap rate: 8.40%
• Cash-on-cash: 7.53%
• DSCR: 1.33
• 1% rule: 1.05%
• Cash to close: $35,840

Investor read

• This is a 3-bed/2.0-bath single-family listed at $128k.
• At list price, monthly cash flow is $225 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $128k).
• It's been on market 352 days — a 12% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $113k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $885 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#49 in SD) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: employment D+, schools D, amenities F.
• Winner School District 59-2 (town): math 35% / reading 50% proficiency, ranked #48 of 59 in SD (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 17 active listings in the ZIP; 2 units permitted in Tripp County in 2024 (0 in 5+ unit buildings).
• Tripp County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $21k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Questions for listing agent

• It's been on market 352 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.