22 N Yale St · Vermillion, SD 57069

$209,000

4 bd · 1.5 ba · 2,260 sqft · Other public records · 63 Days on market

Built 1925 10,575 sqft lot $92/sqft · 23% below area Est $271k · 23% under

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +7.7/30.0
• Schools +4.3/10.0
• Livability +4.2/5.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 2 story 1920's home with original woodwork throughout! This is a well-maintained rental, registered with the Vermillion Rental Registry. Featuring 5 nice sized bedrooms and 2 full bathrooms, there is ample of space in this home to continue as a very nice rental property or equally as such an owner-occupied home. Come take a look!

Key facts

• 0.24 acre lot
• Pool
• Built 1925

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath other listed at $209k.

Deal economics

• At list price, monthly cash flow is $-244 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $166k (20.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $166k (20.5% below list).
• Recommended offer: $166k (20.6% below list) — sets the bar for cash-flow.
• Cap rate 4.9% vs local median 2.5% in Vermillion — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 84/100 on livability (#5 in SD, #757 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: commute F, employment F.
• Vermillion School District 13-1 (town): math 44% / reading 61% proficiency, ranked #27 of 59 in SD (top 46%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 120 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 28 units permitted in Clay County in 2024 (10 in 5+ unit buildings).
• This rent runs 37% of the median local income ($53k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Clay County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y 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.
• Current owner paid $165k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $165,899 (20.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
3. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.79% ✗
• Cap rate: 4.89%
• Cash-on-cash: -5.00%
• DSCR: 0.78
• GRM: 10.5

CMA / ARV

• ARV (median comp): $270,811
• List price: $209,000
• Delta: -22.82%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -24.7%
• Equity multiple: 0.16×
• Total profit: $-49,313
• Equity at exit: $31,163

10-year hold

• IRR: -20.3%
• Equity multiple: -0.07×
• Total profit: $-62,570
• Equity at exit: $18,071

Cash invested: $58,520 (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 57069

• Home prices YoY: -32.8%
• Active inventory: 120
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,661 medium
• Mortgage (P&I): −$1,096
• Tax from tax record: −$373 /mo · $4,475/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $-244

Break-even live

Break-even rent $1,970

Max offer price $165,899

Occupancy floor —

Sensitivity live

Price	-10% $-126	-5% $-185	+0% $-244	+5% $-303	+10% $-362
Rent	-10% $-375	-5% $-310	+0% $-244	+5% $-178	+10% $-113
Rate	-1.0pp $-139	-0.5pp $-191	base $-244	+0.5pp $-298	+1.0pp $-353

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: $52,250
• Closing costs: $6,270
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
200 N Pine St Vermillion, SD	4.0	2.0	2304	$2,100	$0.91	44d	1	0.24mi

Listing history 20 events

1. 2026-06-19
   days on market $209,000 Active 63 DOM
2. 2026-06-18
   days on market $209,000 Active 62 DOM
3. 2026-06-17
   days on market $209,000 Active 61 DOM
4. 2026-06-16
   days on market $209,000 Active 60 DOM
5. 2026-06-15
   days on market $209,000 Active 59 DOM
6. 2026-06-14
   days on market $209,000 Active 57 DOM
7. 2026-06-12
   days on market $209,000 Active 56 DOM
8. 2026-06-09
   days on market $209,000 Active 53 DOM
9. 2026-06-08
   days on market $209,000 Active 52 DOM
10. 2026-06-07
    days on market $209,000 Active 51 DOM
11. 2026-06-05
    days on market $209,000 Active 49 DOM
12. 2026-06-04
    pricedays on market $209,000 Active 47 DOM
13. 2026-06-02
    days on market $214,800 Active 46 DOM
14. 2026-06-01
    days on market $214,800 Active 45 DOM
15. 2026-05-31
    days on market $214,800 Active 44 DOM
16. 2026-05-31
    days on market $214,800 Active 43 DOM
17. 2026-04-17
    listed $214,800 Active 341-char remark

    Show marketing remark (341 chars)

    Charming 2 story 1920's home with original woodwork throughout! This is a well-maintained rental, registered with the Vermillion Rental Registry. Featuring 5 nice sized bedrooms and 2 full bathrooms, there is ample of space in this home to continue as a very nice rental property or equally as such an owner-occupied home. Come take a look!

18. 2021-11-24
    soldstatus $165,000 292-char remark

    Show marketing remark (292 chars)

    Wonderful 2 story, 5 bedroom, 2 bath home located 2 blocks south of the University of South Dakota campus and a few clocks away from downtown Vermillion. The second floor bedrooms are very large and spacious! This home is on the Vermillion Rental Registry with current lease ending 7/1/2022.

19. 2021-11-16
    soldstatus $330,000
20. 2021-10-25
    listed $169,900 292-char remark

    Show marketing remark (292 chars)

    Wonderful 2 story, 5 bedroom, 2 bath home located 2 blocks south of the University of South Dakota campus and a few clocks away from downtown Vermillion. The second floor bedrooms are very large and spacious! This home is on the Vermillion Rental Registry with current lease ending 7/1/2022.

ⓘ 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: $4,475 · $373/mo
• Projected year-2 tax: $4,475 · $373/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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: $19,929
• − Mortgage interest: −$11,707
• − Property taxes: −$4,475
• − Insurance: −$1,045
• − Repairs & maintenance: −$1,594
• − Management: −$1,594
• − Depreciation: −$6,080
• Taxable loss: −$6,566
• Est. tax savings @ 24.0%: +$1,576
• After-tax cash flow: $-1,352/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: Vermillion School District 13-1
• NCES district ID: 4674370
• Math proficiency: 44% ▼ -8.00%
• Reading proficiency: 61% ▼ -7.00%
• Median HH income: $36,421
• Composite: 43.49/100
• National rank: #2995
• State rank: #27 of 59 in SD

Livability — Vermillion

• Score: 84/100
• State rank: #5
• US rank: #757

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Vermillion, SD
• County: Clay County · 13,091 people
• City population: 13,091
• Metro: Vermillion, SD
• Population (ZIP): 13,091
• Household income: $53,327
• Rent vs Own: 53.8% rent · 46.2% own
• Severe rent burden: 792.0

Population outlook (Clay County) Hauer SSP2

• Today (2025): 15,009 people
• By 2030: 15,554 · +3.6%
• By 2040: 15,862 · +5.7%
• By 2050: 16,801 · +11.9%
• By 2075: 20,880 · +39.1%
• By 2100: 27,360 · +82.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Native American 5% Asian 3% Two or more races 3% Hispanic / Latino 3% Black 2%
• Common ancestry: Portuguese 9% Iranian 2% Serbian 2%
• Foreign-born: 5% · Canada, China, Vietnam
• Languages at home: 94% English-only · Chinese 1% Spanish 1% Arabic 1%

Political lean MEDSL · Clay

• 2024 margin: Lean D (+6.5) · D 52.0% · R 45.5% · Other 2.5%
• 2008→2024 swing: -17.7pp toward R · 2008: 24.2pp · 2024: 6.5pp
• All cycles: 2024: D+6.5 2020: D+11.0 2016: D+9.8 2012: D+15.5 2008: D+24.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -90.55%
• Current HPI: 185.1311
• Rent YoY: —
• Metro: Vermillion, SD
• 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

+26.4% since first listed

4 events — show timeline

• 2026-04-17 Listed $214,800 NWIA
• 2021-11-24 Sold (MLS) $165,000 NWIA
• 2021-11-16 Sold (Public Records) $330,000 Public Records
• 2021-10-25 Listed $169,900 NWIA

Property tax history

+4.5%/yr

Latest (2025): $4,475 · +8.0% YoY. Source: county tax records.