52 Cotts Dr

North Sioux City, SD 57049

$45,000B

3 bd · 2.0 ba · 1,216 sqft · Built 1990 · Manufactured · Active · 37 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,048/mo
• Mortgage (P&I): −$236
• Tax + insurance: −$37
• HOA: −$0
• Vac / Maint / Mgmt: −$220
• Net cashflow: $555/mo
• Annual: $6,656/yr
• Cap rate: 21.08%
• Cash-on-cash: 52.82%
• DSCR: 3.35
• 1% rule: 2.33%
• Cash to close: $12,600

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $45k.
• At list price, monthly cash flow is $555 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• It's been on market 37 days — a 3% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $44k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $311 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#59 in SD) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: health & safety D, amenities F, commute F.
• Dakota Valley School District 61-8 (suburban): math 45% / reading 59% proficiency, ranked #16 of 59 in SD (top 27%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 12% free/reduced lunch — higher-income household profile.
• Zoned schools: Dakota Valley Elementary - 02 (math 67% / reading 67%, grade B+, #32 of 253 statewide, top 14%, 365 students, 11% FRL); Dakota Valley Middle School - 03 (math 39% / reading 60%, grade C, #55 of 143 statewide, top 46%, 342 students, 10% FRL); Dakota Valley High School - 01 (math 52% / reading 72%, grade B-, #28 of 151 statewide, top 19%, 448 students, 8% FRL) — zoned schools at 9% FRL track the district average.
• Market conditions: 89 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 46 units permitted in Union County in 2024 (8 in 5+ unit buildings).
• Union County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.