302 Main St · Bison, SD 57620

$174,900

4 bd · 1.0 ba · 1,843 sqft · SingleFamily public records · 20 Days on market

Built 1970 0.28 ac lot Est $171k · at est.

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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 +11.1/30.0
• ARV discount +6.6/15.0
• Appreciation +6.2/10.0
• Schools +3.9/10.0
• Livability +3.4/5.0
• DSCR +3.2/10.0
• 1% rule +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• Cozy pellet stove
• Rustic living room
• Bonus family room

Tags

• RUSTIC LIVING ROOM
• COZY PELLET STOVE
• MODERN KITCHEN
• BONUS FAMILY ROOM
• MAIN-FLOOR LIVING
• MAIN-FLOOR LAUNDRY

Property features AI

Finance

• Financial info: Annual tax amount listed

Exterior

• Parking: Attached or detached garage (1-car)
• Utilities: Public sewer
• Home design: Single-story single family residence; Residential property
• Construction: No foundation details provided
• Exterior features: Lot approximately 75 x 160

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; Has cooling
• Interior features: No basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $-71 ($-857/yr) — negative.
• To cash-flow at today's rent, offer at most $162k (7.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $142k (18.6% below list).
• Recommended offer: $142k (18.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 67/100 on livability (#107 in SD) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety D+, crime D, amenities F.
• Bison School District 52-1 (rural): math 40% / reading 45% proficiency, ranked #106 of 148 in SD (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Bison Elementary - 02 (math 44% / reading 44%, grade F, #144 of 253 statewide, top 63%, 67 students, 28% FRL); Bison Jr. High - 04 (math 10% / reading 50%, 24 students, 12% FRL); Bison High School - 01 (math 24% / reading 75%, grade D+, #69 of 151 statewide, top 65%, 43 students, 44% FRL) — zoned schools at 28% FRL track the district average.
• Market conditions: 3 active listings in the ZIP.

Forward outlook

• In year one you build about $5k of equity ($1k loan paydown + $4k appreciation (2.5% local appreciation)).
• Perkins County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (2.5% appreciation + 3.0% rent growth), your $49k cash investment doubles in ~8 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($172k) is reasonable based on typical stale-listing flexibility.

Recommended offer $142,289 (18.6% 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. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is D 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. 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?
6. 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.
7. 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.
8. 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: 0.81% ✗
• Cap rate: 5.80%
• Cash-on-cash: -1.75%
• DSCR: 0.92
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $171,399
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
701 1st Ave W	0.23mi	4/2.0	1,824 (-1%)	7mo	$169,900	$93	78
507 W 1st Ave	0.13mi	3/1.5 (-1)	1,878 (+2%)	10mo	$120,000	$64	76

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

2.45% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 4.2%
• Equity multiple: 1.24×
• Total profit: $11,512
• Equity at exit: $73,299

10-year hold

• IRR: 7.7%
• Equity multiple: 2.10×
• Total profit: $53,789
• Equity at exit: $108,972

Cash invested: $48,972 (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 57620

• Home prices YoY: 1.8%
• Active inventory: 3
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,423 medium
• Mortgage (P&I): −$917
• Tax from tax record: −$205 /mo · $2,465/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $-71

Break-even live

Break-even rent $1,513

Max offer price $162,285

Occupancy floor —

Sensitivity live

Price	-10% $28	-5% $-22	+0% $-71	+5% $-121	+10% $-170
Rent	-10% $-184	-5% $-128	+0% $-71	+5% $-15	+10% $41
Rate	-1.0pp $17	-0.5pp $-27	base $-71	+0.5pp $-117	+1.0pp $-163

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-21
   days on market $174,900 Active 20 DOM
2. 2026-06-21
   days on market $174,900 Active 19 DOM
3. 2026-06-18
   days on market $174,900 Active 17 DOM
4. 2026-06-17
   days on market $174,900 Active 16 DOM
5. 2026-06-16
   days on market $174,900 Active 15 DOM
6. 2026-06-15
   days on market $174,900 Active 14 DOM
7. 2026-06-13
   days on market $174,900 Active 12 DOM
8. 2026-06-12
   days on market $174,900 Active 11 DOM
9. 2026-06-09
   days on market $174,900 Active 8 DOM
10. 2026-06-08
    days on market $174,900 Active 7 DOM
11. 2026-06-08
    days on market $174,900 Active 6 DOM
12. 2026-06-05
    days on market $174,900 Active 4 DOM
13. 2026-06-04
    days on market $174,900 Active 2 DOM
14. 2026-06-01
    listed $174,900 Active 1 DOM

ⓘ 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: $2,465 · $205/mo
• Projected year-2 tax: $2,465 · $205/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 · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,075
• − Mortgage interest: −$9,797
• − Property taxes: −$2,465
• − Insurance: −$874
• − Repairs & maintenance: −$1,366
• − Management: −$1,366
• − Depreciation: −$5,088
• Taxable loss: −$3,882
• Est. tax savings @ 24.0%: +$932
• After-tax cash flow: $75/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: Bison School District 52-1
• NCES district ID: 4607050
• Math proficiency: 40% ▲ 5.00%
• Reading proficiency: 45% ▬ 0.00%
• Median HH income: $48,832
• Composite: 38.77/100
• National rank: #8370
• State rank: #106 of 148 in SD

Livability — Bison

• Score: 67/100
• State rank: #107
• US rank: #11155

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bison, SD
• Population (ZIP): 590

Population outlook (Perkins County) Hauer SSP2

• Today (2025): 3,128 people
• By 2030: 3,207 · +2.5%
• By 2040: 3,391 · +8.4%
• By 2050: 3,602 · +15.2%
• By 2075: 4,340 · +38.7%
• By 2100: 4,754 · +52.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 2%
• Common ancestry: Portuguese 25% Iranian 4% Lithuanian 4%

Political lean MEDSL · Perkins

• 2024 margin: Solid R (+70.0) · D 14.3% · R 84.3% · Other 1.3%
• 2008→2024 swing: -34.3pp toward R · 2008: -35.8pp · 2024: -70.0pp
• All cycles: 2024: R+70.0 2020: R+69.6 2016: R+71.3 2012: R+55.7 2008: R+35.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.45%
• Current HPI: 140.6658
• 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

• 2026-06-01 Listed $174,900 Badlands BOR MLS

Property tax history

+6.0%/yr

Latest (2025): $2,465 · +2.9% YoY. Source: county tax records.