447 N Plum St. #20 St · Vermillion, SD 57069

$18,000

2 bd · 2.0 ba · 784 sqft · Manufactured public records · 1026 Days on market

Built 1994 $23/sqft · 65% below area ↓ 29% 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.3/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

2 bedroom, 1 bath mobile home located on a leased lot at Plum Vista Mobile Home Park. The mobile home is being sold as is and cannot be moved for 3 years from purchase date.

Key facts

• Built 1994
• Listed 1025 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $18k.

Deal economics

• At list price, monthly cash flow is $651 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($972 rent vs $18k).
• Recommended offer: $16k (12.0% below list) — sets the bar for market timing.
• Cap rate 49.7% 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; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 28 units permitted in Clay County in 2024 (10 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $124 of loan paydown is wiped out by about $540 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $5k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 1026 days — a 12% lower offer ($16k) is reasonable based on typical stale-listing flexibility.

Recommended offer $15,840 (12.0% below list)

Questions for the listing agent

1. It's been on market 1026 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 5.40% ✓
• Cap rate: 49.67%
• Cash-on-cash: 154.92%
• DSCR: 7.89
• GRM: 1.5

CMA / ARV

• ARV (median comp): $51,801
• List price: $18,000
• Delta: -65.25%
• Verdict: UNDERPRICED
• Comps: 17 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 8.65×
• Total profit: $38,536
• Equity at exit: $2,684

10-year hold

• IRR: —
• Equity multiple: 18.25×
• Total profit: $86,962
• Equity at exit: $1,556

Cash invested: $5,040 (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: 1.5×

Monthly cashflow live

• Estimated rent: $972 medium
• Mortgage (P&I): −$94
• Tax from tax record: −$16 /mo · $188/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$204
• Net cashflow: $651

Break-even live

Break-even rent $149

Max offer price $18,000

Occupancy floor 28%

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: $4,500
• Closing costs: $540
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
315 N Norbeck St Vermillion, SD	2.0	1.5	1100	$1,320	$1.20	43d	1	0.51mi
105 E Dartmouth St Vermillion, SD	2.0	1.0	700	$900	$1.29	43d	1	0.59mi
1000 N Dakota St Vermillion, SD	2.0	2.0	790	$756	$0.96	43d	1	0.62mi

Listing history 18 events

1. 2026-06-19
   days on market $18,000 Active 1026 DOM
2. 2026-06-18
   days on market $18,000 Active 1025 DOM
3. 2026-06-17
   days on market $18,000 Active 1024 DOM
4. 2026-06-16
   days on market $18,000 Active 1023 DOM
5. 2026-06-15
   days on market $18,000 Active 1022 DOM
6. 2026-06-14
   days on market $18,000 Active 1020 DOM
7. 2026-06-12
   days on market $18,000 Active 1019 DOM
8. 2026-06-09
   days on market $18,000 Active 1016 DOM
9. 2026-06-08
   days on market $18,000 Active 1015 DOM
10. 2026-06-07
    days on market $18,000 Active 1014 DOM
11. 2026-06-05
    days on market $18,000 Active 1012 DOM
12. 2026-06-04
    days on market $18,000 Active 1010 DOM
13. 2026-06-02
    days on market $18,000 Active 1009 DOM
14. 2026-06-01
    days on market $18,000 Active 1008 DOM
15. 2026-05-31
    days on market $18,000 Active 1007 DOM
16. 2026-05-31
    days on market $18,000 Active 1006 DOM
17. 2025-03-31
    price $18,000 173-char remark

    Show marketing remark (173 chars)

    2 bedroom, 1 bath mobile home located on a leased lot at Plum Vista Mobile Home Park. The mobile home is being sold as is and cannot be moved for 3 years from purchase date.

18. 2023-08-24
    listed $25,500 Active 173-char remark

    Show marketing remark (173 chars)

    2 bedroom, 1 bath mobile home located on a leased lot at Plum Vista Mobile Home Park. The mobile home is being sold as is and cannot be moved for 3 years from purchase date.

ⓘ 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: $188 · $16/mo
• Projected year-2 tax: $236 · $20/mo
• Expected delta: +$48/yr (+$4/mo · 25.6%)

ⓘ 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 2/10 Low
• 🌡 Heat 2/10 Low 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: $11,669
• − Mortgage interest: −$1,008
• − Property taxes: −$188
• − Insurance: −$90
• − Repairs & maintenance: −$934
• − Management: −$934
• − Depreciation: −$524
• Taxable income: $7,992
• Est. tax owed @ 24.0%: −$1,918
• After-tax cash flow: $5,890/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

-29.4% since first listed

2 events — show timeline

• 2025-03-31 Price Changed $18,000 NWIA
• 2023-08-24 Listed $25,500 NWIA

Property tax history

-1.7%/yr

Latest (2025): $188 · -2.8% YoY. Source: county tax records.