2405-2416 Prairie Eagle Cir · Huron, SD 57350

$599,900

None bd · None ba · 5,744 sqft · MultiFamily · 260 Days on market

Built 2005 Fair condition 0.46 ac lot ↓ 5% since listing

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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).

• Cash flow +12.8/30.0
• ARV discount +7.5/15.0
• DSCR +3.8/10.0
• 1% rule +3.6/10.0
• Livability +3.6/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

This well-maintained 5-plex apartment building, built in 2005, offers an excellent investment opportunity. The single-level property features four spacious 2-bedroom, 1-bathroom units and one larger 2-bedroom, 1.5-bathroom unit, each with its own garage for added convenience. Fully occupied with reliable tenants, the building has been cared for and is ready for its new owner to step in and enjoy steady rental income.

Key facts

• 0.46 acre lot
• Garage
• Built 2005

What this means for you Summary

Snapshot

• This is a multifamily listed at $600k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-57 ($-681/yr) — negative.
• To cash-flow at today's rent, offer at most $592k (1.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $518k (13.7% below list).
• Recommended offer: $518k (13.7% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 4.0% in Huron — 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 72/100 on livability (#48 in SD) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, health & safety C-, schools D-.
• Huron School District 02-2 (town): math 30% / reading 44% proficiency, ranked #55 of 59 in SD (top 93%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 149 active listings in the ZIP; 30 units permitted in Beadle County in 2024 (6 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $18k of value loss. Plan a longer hold.
• Beadle County population projected at +39% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 260 days — a 12% lower offer ($528k) is reasonable based on typical stale-listing flexibility.

Recommended offer $517,600 (13.7% 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 260 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.86% ✗
• Cap rate: 6.18%
• Cash-on-cash: -0.41%
• DSCR: 0.98
• GRM: 9.7

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: -17.0%
• Equity multiple: 0.40×
• Total profit: $-100,745
• Equity at exit: $89,447

10-year hold

• IRR: -8.8%
• Equity multiple: 0.45×
• Total profit: $-92,062
• Equity at exit: $51,868

Cash invested: $167,972 (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 57350

• Active inventory: 149
• Price-to-rent: 38.6×

Monthly cashflow live

• Estimated rent: $5,176 medium
• Mortgage (P&I): −$3,146
• Tax est. 1.5%: −$750 /mo · $8,998/yr
• Insurance: −$250
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,087
• Net cashflow: $-57

Break-even live

Break-even rent $5,248

Max offer price $591,690

Occupancy floor 96%

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$5,176
Total (4 units)			$5,176

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: $149,975
• Closing costs: $17,997
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $599,900 Active 260 DOM
2. 2026-06-17
   days on market $599,900 Active 259 DOM
3. 2026-06-16
   days on market $599,900 Active 258 DOM
4. 2026-06-15
   days on market $599,900 Active 257 DOM
5. 2026-06-13
   days on market $599,900 Active 255 DOM
6. 2026-06-12
   days on market $599,900 Active 254 DOM
7. 2026-06-09
   days on market $599,900 Active 251 DOM
8. 2026-06-08
   days on market $599,900 Active 250 DOM
9. 2026-06-08
   days on market $599,900 Active 249 DOM
10. 2026-06-05
    days on market $599,900 Active 247 DOM
11. 2026-06-04
    days on market $599,900 Active 245 DOM
12. 2026-06-02
    days on market $599,900 Active 244 DOM
13. 2026-06-01
    days on market $599,900 Active 243 DOM
14. 2026-05-31
    days on market $599,900 Active 242 DOM
15. 2026-03-17
    price $615,000 420-char remark

    Show marketing remark (420 chars)

    This well-maintained 5-plex apartment building, built in 2005, offers an excellent investment opportunity. The single-level property features four spacious 2-bedroom, 1-bathroom units and one larger 2-bedroom, 1.5-bathroom unit, each with its own garage for added convenience. Fully occupied with reliable tenants, the building has been cared for and is ready for its new owner to step in and enjoy steady rental income.

16. 2026-01-02
    price $630,000 420-char remark

    Show marketing remark (420 chars)

    This well-maintained 5-plex apartment building, built in 2005, offers an excellent investment opportunity. The single-level property features four spacious 2-bedroom, 1-bathroom units and one larger 2-bedroom, 1.5-bathroom unit, each with its own garage for added convenience. Fully occupied with reliable tenants, the building has been cared for and is ready for its new owner to step in and enjoy steady rental income.

17. 2025-10-01
    listed $650,000 Active 420-char remark

    Show marketing remark (420 chars)

    This well-maintained 5-plex apartment building, built in 2005, offers an excellent investment opportunity. The single-level property features four spacious 2-bedroom, 1-bathroom units and one larger 2-bedroom, 1.5-bathroom unit, each with its own garage for added convenience. Fully occupied with reliable tenants, the building has been cared for and is ready for its new owner to step in and enjoy steady rental income.

ⓘ 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 ≥100°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: $62,112
• − Mortgage interest: −$33,604
• − Property taxes: −$8,998
• − Insurance: −$3,000
• − Repairs & maintenance: −$4,969
• − Management: −$4,969
• − Depreciation: −$17,452
• Taxable loss: −$10,879
• Est. tax savings @ 24.0%: +$2,611
• After-tax cash flow: $1,930/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This multi-family property requires moderate repairs to exterior siding and interior paint, with value-adding updates like fresh paint and carpet to boost its resale and rental potential.

Repairs flagged

• Moderate exterior siding — Weathered and discolored
• Minor interior paint — Faded paint

Value-add opportunities

• Both paint exterior — Enhances curb appeal and resale value
• Both replace carpet — Fresh carpet improves comfort and rental appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Weathered and discolored	Moderate	$3,000–15,000
interior paint · Faded paint	Minor	$500–3,000
Total estimated repair cost · 2 items		$3,500–18,000

Value-add ROI direction

• Both paint exterior — Enhances curb appeal and resale value ↑
• Both replace carpet — Fresh carpet improves comfort and rental appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Huron School District 02-2
• NCES district ID: 4635480
• Math proficiency: 30% ▼ -7.00%
• Reading proficiency: 44% ▼ -2.00%
• Median HH income: $43,613
• Composite: 31.35/100
• National rank: #5998
• State rank: #55 of 59 in SD

Livability — Huron

• Score: 72/100
• State rank: #48
• US rank: #6463

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Huron, SD
• Population (ZIP): 16,148

Population outlook (Beadle County) Hauer SSP2

• Today (2025): 20,094 people
• By 2030: 21,218 · +5.6%
• By 2040: 24,042 · +19.6%
• By 2050: 27,931 · +39.0%
• By 2075: 43,296 · +115.5%
• By 2100: 65,888 · +227.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 16% Asian 11% Two or more races 7% Pacific Islander 2% Native American 1% Black 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 2%
• Common ancestry: Portuguese 8% Iranian 4% Lithuanian 2%
• Foreign-born: 15% · Canada, Philippines, Vietnam
• Languages at home: 80% English-only · Spanish 9% Other Asian/Pacific 7% Vietnamese 2%

Political lean MEDSL · Beadle

• 2024 margin: Solid R (+40.1) · D 28.8% · R 68.8% · Other 2.4%
• 2008→2024 swing: -32.8pp toward R · 2008: -7.3pp · 2024: -40.1pp
• All cycles: 2024: R+40.1 2020: R+38.1 2016: R+37.6 2012: R+18.6 2008: R+7.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -116.91%
• Current HPI: 141.3376
• 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

-5.4% since first listed

3 events — show timeline

• 2026-03-17 Price Changed $615,000 HBOR
• 2026-01-02 Price Changed $630,000 HBOR
• 2025-10-01 Listed $650,000 HBOR