113 3rd St · Newell, SD 57760

$110,000

5 bd · None ba · 2,600 sqft · MultiFamily · 295 Days on market

Built 1920 Fair condition 0.26 ac lot ↓ 42% since listing

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Why this score? — see what drove the B 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 +29.6/30.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.8/10.0

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

Check this opportunity out! 2 Story, 7-bedroom boarding home in Newell. 3 City lots. There is a nice 2-car garage 24x28 with a concrete floor, The main level laundry is open for tenants to use as available. The main level features a kitchen, dining, laundry room, living room, 3 bedrooms, 1 1/2 baths, and a back porch. Upper level includes 4 bedrooms 1 shared bath. There is a new furnace one year old 2nd level has a wall furnace only but there are a few portable heaters if needed. The water heater is approx. 50 gal (2020) located in the laundry area. Electrical appears to have been updated in many areas and several electrical panels. Most woodwork is original. Seller has done many improvements/repairs. Located close to Main Street.

Key facts

• Kitchen
• 3 city lots
• Main level laundry

Tags

• 2 STORY
• 7 BEDROOM BOARDING HOME
• 3 CITY LOTS
• 2 CAR GARAGE
• MAIN LEVEL LAUNDRY
• KITCHEN

What this means for you Summary

Snapshot

• This is a 5-bed/?-bath multifamily listed at $110k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $397 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $97k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#220 in SD) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, amenities F.
• Newell School District 09-2 (rural): math 10% / reading 25% proficiency, ranked #141 of 148 in SD (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 18 active listings in the ZIP; 59 units permitted in Butte County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($761 loan paydown + $3k appreciation (3.0% local appreciation)).
• At projected returns (3.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 295 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y 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.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $96,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 295 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1920 — 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 F-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. Crime grade is F 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?
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: 1.33% ✓
• Cap rate: 10.62%
• Cash-on-cash: 15.46%
• DSCR: 1.69
• GRM: 6.3

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: 22.0%
• Equity multiple: 2.25×
• Total profit: $38,554
• Equity at exit: $49,461

10-year hold

• IRR: 23.0%
• Equity multiple: 4.31×
• Total profit: $101,865
• Equity at exit: $76,225

Cash invested: $30,800 (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 57760

• Active inventory: 18
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,465 medium
• Mortgage (P&I): −$577
• Tax est. 1.5%: −$138 /mo · $1,650/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$308
• Net cashflow: $397

Break-even live

Break-even rent $962

Max offer price $110,000

Occupancy floor 68%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $110,000 Active 295 DOM
2. 2026-06-17
   days on market $110,000 Active 294 DOM
3. 2026-06-16
   days on market $110,000 Active 293 DOM
4. 2026-06-15
   days on market $110,000 Active 292 DOM
5. 2026-06-13
   days on market $110,000 Active 290 DOM
6. 2026-06-12
   days on market $110,000 Active 289 DOM
7. 2026-06-09
   days on market $110,000 Active 286 DOM
8. 2026-06-08
   days on market $110,000 Active 285 DOM
9. 2026-06-07
   days on market $110,000 Active 284 DOM
10. 2026-06-05
    days on market $110,000 Active 282 DOM
11. 2026-06-04
    days on market $110,000 Active 280 DOM
12. 2026-06-02
    days on market $110,000 Active 279 DOM
13. 2026-06-01
    days on market $110,000 Active 278 DOM
14. 2026-05-31
    days on market $110,000 Active 277 DOM
15. 2026-05-31
    days on market $110,000 Active 276 DOM
16. 2026-04-24
    price $110,000 740-char remark

    Show marketing remark (740 chars)

    Check this opportunity out! 2 Story, 7-bedroom boarding home in Newell. 3 City lots. There is a nice 2-car garage 24x28 with a concrete floor, The main level laundry is open for tenants to use as available. The main level features a kitchen, dining, laundry room, living room, 3 bedrooms, 1 1/2 baths, and a back porch. Upper level includes 4 bedrooms 1 shared bath. There is a new furnace one year old 2nd level has a wall furnace only but there are a few portable heaters if needed. The water heater is approx. 50 gal (2020) located in the laundry area. Electrical appears to have been updated in many areas and several electrical panels. Most woodwork is original. Seller has done many improvements/repairs. Located close to Main Street.

17. 2026-01-26
    price $99,500 740-char remark

    Show marketing remark (740 chars)

    Check this opportunity out! 2 Story, 7-bedroom boarding home in Newell. 3 City lots. There is a nice 2-car garage 24x28 with a concrete floor, The main level laundry is open for tenants to use as available. The main level features a kitchen, dining, laundry room, living room, 3 bedrooms, 1 1/2 baths, and a back porch. Upper level includes 4 bedrooms 1 shared bath. There is a new furnace one year old 2nd level has a wall furnace only but there are a few portable heaters if needed. The water heater is approx. 50 gal (2020) located in the laundry area. Electrical appears to have been updated in many areas and several electrical panels. Most woodwork is original. Seller has done many improvements/repairs. Located close to Main Street.

18. 2025-08-26
    listed $110,000 Active 740-char remark

    Show marketing remark (740 chars)

    Check this opportunity out! 2 Story, 7-bedroom boarding home in Newell. 3 City lots. There is a nice 2-car garage 24x28 with a concrete floor, The main level laundry is open for tenants to use as available. The main level features a kitchen, dining, laundry room, living room, 3 bedrooms, 1 1/2 baths, and a back porch. Upper level includes 4 bedrooms 1 shared bath. There is a new furnace one year old 2nd level has a wall furnace only but there are a few portable heaters if needed. The water heater is approx. 50 gal (2020) located in the laundry area. Electrical appears to have been updated in many areas and several electrical panels. Most woodwork is original. Seller has done many improvements/repairs. Located close to Main Street.

19. 2025-06-10
    historical Active Under Contract 743-char remark

    Show marketing remark (743 chars)

    Check this opportunity out! 2 Story, 7-bedroom boarding home in Newell. 3 City lots. There is a nice 2-car garage 24x28 with a concrete floor, The main level laundry is open for tenants to use as available. The main level features a kitchen, dining, laundry room, living room, 3 bedrooms, 1 1/2 baths, and a back porch. Upper level includes 4 bedrooms 1 shared bath. There is a new furnace one year old 2nd level has a wall furnace only but there are a few portable heaters if needed. The water heater is approx. 50 gal (2020) located in the laundry area. Electrical appears to have been updated in many areas and several electrical panels. Most woodwork is original. Seller has done many improvements/repairs. Located on close to Main Street.

20. 2025-05-30
    soldstatus $100,000 Closed 743-char remark

    Show marketing remark (743 chars)

    Check this opportunity out! 2 Story, 7-bedroom boarding home in Newell. 3 City lots. There is a nice 2-car garage 24x28 with a concrete floor, The main level laundry is open for tenants to use as available. The main level features a kitchen, dining, laundry room, living room, 3 bedrooms, 1 1/2 baths, and a back porch. Upper level includes 4 bedrooms 1 shared bath. There is a new furnace one year old 2nd level has a wall furnace only but there are a few portable heaters if needed. The water heater is approx. 50 gal (2020) located in the laundry area. Electrical appears to have been updated in many areas and several electrical panels. Most woodwork is original. Seller has done many improvements/repairs. Located on close to Main Street.

21. 2025-05-01
    price $149,000 743-char remark

    Show marketing remark (743 chars)

    Check this opportunity out! 2 Story, 7-bedroom boarding home in Newell. 3 City lots. There is a nice 2-car garage 24x28 with a concrete floor, The main level laundry is open for tenants to use as available. The main level features a kitchen, dining, laundry room, living room, 3 bedrooms, 1 1/2 baths, and a back porch. Upper level includes 4 bedrooms 1 shared bath. There is a new furnace one year old 2nd level has a wall furnace only but there are a few portable heaters if needed. The water heater is approx. 50 gal (2020) located in the laundry area. Electrical appears to have been updated in many areas and several electrical panels. Most woodwork is original. Seller has done many improvements/repairs. Located on close to Main Street.

22. 2025-03-18
    listed $159,000 Active 743-char remark

    Show marketing remark (743 chars)

    Check this opportunity out! 2 Story, 7-bedroom boarding home in Newell. 3 City lots. There is a nice 2-car garage 24x28 with a concrete floor, The main level laundry is open for tenants to use as available. The main level features a kitchen, dining, laundry room, living room, 3 bedrooms, 1 1/2 baths, and a back porch. Upper level includes 4 bedrooms 1 shared bath. There is a new furnace one year old 2nd level has a wall furnace only but there are a few portable heaters if needed. The water heater is approx. 50 gal (2020) located in the laundry area. Electrical appears to have been updated in many areas and several electrical panels. Most woodwork is original. Seller has done many improvements/repairs. Located on close to Main Street.

23. 2022-12-28
    listed $189,000 Active

ⓘ 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

• 🌡 Heat 3/10 Moderate
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,576
• − Mortgage interest: −$6,162
• − Property taxes: −$1,650
• − Insurance: −$550
• − Repairs & maintenance: −$1,406
• − Management: −$1,406
• − Depreciation: −$3,200
• Taxable income: $3,202
• Est. tax owed @ 24.0%: −$769
• After-tax cash flow: $3,995/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 significant repairs and updates to improve its condition and value. The exterior and interior need fresh paint, new flooring, and HVAC units, while the bathrooms require modern fixtures.

Repairs flagged

• Major Siding — Significant damage and wear
• Major HVAC units — Older units, need replacement
• Major Flooring — Worn carpet, needs replacement

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace outdated fixtures in bathrooms — Modern fixtures improve functionality and appeal
• Both Replace HVAC units — Newer, more efficient units improve comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
Siding · Significant damage and wear	Major	$15,000–50,000
HVAC units · Older units, need replacement	Major	$15,000–50,000
Flooring · Worn carpet, needs replacement	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace outdated fixtures in bathrooms — Modern fixtures improve functionality and appeal ↑
• Both Replace HVAC units — Newer, more efficient units improve comfort and energy efficiency ↑

ⓘ 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: Newell School District 09-2
• NCES district ID: 4650850
• Math proficiency: 10% ▼ -10.00%
• Reading proficiency: 25% ▬ 0.00%
• Median HH income: $41,001
• Composite: 18.3/100
• National rank: #14060
• State rank: #141 of 148 in SD

Livability — Newell

• Score: 62/100
• State rank: #220
• US rank: #17019

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Newell, SD
• Population (ZIP): 1,084

Population outlook (Butte County) Hauer SSP2

• Today (2025): 10,598 people
• By 2030: 10,711 · +1.1%
• By 2040: 10,818 · +2.1%
• By 2050: 10,874 · +2.6%
• By 2075: 12,151 · +14.7%
• By 2100: 15,016 · +41.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Native American 7%
• Common ancestry: Italian 10% Slovak 5% Serbian 4%
• Foreign-born: 1%

Political lean MEDSL · Butte

• 2024 margin: Solid R (+60.6) · D 18.5% · R 79.2% · Other 2.3%
• 2008→2024 swing: -25.0pp toward R · 2008: -35.6pp · 2024: -60.6pp
• All cycles: 2024: R+60.6 2020: R+58.1 2016: R+61.2 2012: R+49.2 2008: R+35.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

-41.8% since first listed

8 events — show timeline

• 2026-04-24 Price Changed $110,000 MRAOR
• 2026-01-26 Price Changed $99,500 MRAOR
• 2025-08-26 Listed $110,000 MRAOR
• 2025-06-10 Contingent — MRAOR
• 2025-05-30 Sold (MLS) $100,000 MRAOR
• 2025-05-01 Price Changed $149,000 MRAOR
• 2025-03-18 Listed $159,000 MRAOR
• 2022-12-28 Listed $189,000 MRAOR