304 E Main St St · Woonsocket, SD 57385

$77,550

2 bd · 2.0 ba · 1,452 sqft · Other · 303 Days on market

Built 1950 0.29 ac lot $53/sqft · 25% below area Est $104k · 25% under

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Why this score? — see what drove the A- 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• Appreciation +5.0/10.0
• Schools +4.1/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Bank owned property being sold as-is. 2 bedroom with additional space and closets. Large garage and nice size back yard and big shed. Please contact a local to Woonsocket area agent for showing. Idaho Housing and Finance as seller cannot offer secondary financing with FHA first mortgages. No offers will be accepted until 10 days past the listing date of 8/21/25. Idaho Housing and Finance does not guarantee any personal property or the function of personal property.

Key facts

• 0.29 acre lot
• 2 garage spots
• Built 1950

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $78k.

Deal economics

• At list price, monthly cash flow is $312 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $78k).
• Recommended offer: $68k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#113 in SD) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, crime F, amenities F.
• Woonsocket School District 55-4 (rural): math 40% / reading 50% proficiency, ranked #101 of 148 in SD (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 5 active listings in the ZIP; 11 units permitted in Sanborn County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($536 loan paydown + $2k appreciation (3.0% local appreciation)).
• Sanborn County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 303 days — a 12% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 15y ago; this cycle's ask has dropped $63k (45%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $65k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $68,244 (12.0% below list)

Questions for the listing agent

1. It's been on market 303 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-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?
6. 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?
7. 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.
8. 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.
9. 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: 1.38% ✓
• Cap rate: 11.12%
• Cash-on-cash: 17.24%
• DSCR: 1.77
• GRM: 6.0

CMA / ARV

• ARV (median comp): $103,973
• List price: $77,550
• Delta: -25.41%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 23.7%
• Equity multiple: 2.35×
• Total profit: $29,229
• Equity at exit: $34,870

10-year hold

• IRR: 24.6%
• Equity multiple: 4.51×
• Total profit: $76,239
• Equity at exit: $53,739

Cash invested: $21,714 (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 57385

• Active inventory: 5
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,073 medium
• Mortgage (P&I): −$407
• Tax est. 1.5%: −$97 /mo · $1,163/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $312

Break-even live

Break-even rent $678

Max offer price $77,550

Occupancy floor 66%

Sensitivity live

Price	-10% $366	-5% $339	+0% $312	+5% $285	+10% $258
Rent	-10% $227	-5% $270	+0% $312	+5% $354	+10% $397
Rate	-1.0pp $351	-0.5pp $332	base $312	+0.5pp $292	+1.0pp $271

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: $19,388
• Closing costs: $2,326
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-21
   days on market $77,550 Active 303 DOM
2. 2026-06-18
   days on market $77,550 Active 301 DOM
3. 2026-06-17
   days on market $77,550 Active 300 DOM
4. 2026-06-16
   days on market $77,550 Active 299 DOM
5. 2026-06-15
   days on market $77,550 Active 298 DOM
6. 2026-06-13
   days on market $77,550 Active 296 DOM
7. 2026-06-12
   days on market $77,550 Active 295 DOM
8. 2026-06-09
   days on market $77,550 Active 292 DOM
9. 2026-06-08
   days on market $77,550 Active 291 DOM
10. 2026-06-08
    days on market $77,550 Active 290 DOM
11. 2026-06-05
    days on market $77,550 Active 288 DOM
12. 2026-06-04
    days on market $77,550 Active 286 DOM
13. 2026-06-02
    days on market $77,550 Active 285 DOM
14. 2026-06-01
    price $77,550 Active 284 DOM
15. 2026-06-01
    days on market $84,600 Active 284 DOM
16. 2026-05-31
    days on market $84,600 Active 283 DOM
17. 2026-04-24
    price $84,600 469-char remark

    Show marketing remark (469 chars)

    Bank owned property being sold as-is. 2 bedroom with additional space and closets. Large garage and nice size back yard and big shed. Please contact a local to Woonsocket area agent for showing. Idaho Housing and Finance as seller cannot offer secondary financing with FHA first mortgages. No offers will be accepted until 10 days past the listing date of 8/21/25. Idaho Housing and Finance does not guarantee any personal property or the function of personal property.

18. 2026-03-23
    price $91,650 469-char remark

    Show marketing remark (469 chars)

    Bank owned property being sold as-is. 2 bedroom with additional space and closets. Large garage and nice size back yard and big shed. Please contact a local to Woonsocket area agent for showing. Idaho Housing and Finance as seller cannot offer secondary financing with FHA first mortgages. No offers will be accepted until 10 days past the listing date of 8/21/25. Idaho Housing and Finance does not guarantee any personal property or the function of personal property.

19. 2026-02-23
    price $98,700 469-char remark

    Show marketing remark (469 chars)

    Bank owned property being sold as-is. 2 bedroom with additional space and closets. Large garage and nice size back yard and big shed. Please contact a local to Woonsocket area agent for showing. Idaho Housing and Finance as seller cannot offer secondary financing with FHA first mortgages. No offers will be accepted until 10 days past the listing date of 8/21/25. Idaho Housing and Finance does not guarantee any personal property or the function of personal property.

20. 2026-01-22
    price $105,750 469-char remark

    Show marketing remark (469 chars)

    Bank owned property being sold as-is. 2 bedroom with additional space and closets. Large garage and nice size back yard and big shed. Please contact a local to Woonsocket area agent for showing. Idaho Housing and Finance as seller cannot offer secondary financing with FHA first mortgages. No offers will be accepted until 10 days past the listing date of 8/21/25. Idaho Housing and Finance does not guarantee any personal property or the function of personal property.

21. 2025-12-19
    price $112,800 469-char remark

    Show marketing remark (469 chars)

    Bank owned property being sold as-is. 2 bedroom with additional space and closets. Large garage and nice size back yard and big shed. Please contact a local to Woonsocket area agent for showing. Idaho Housing and Finance as seller cannot offer secondary financing with FHA first mortgages. No offers will be accepted until 10 days past the listing date of 8/21/25. Idaho Housing and Finance does not guarantee any personal property or the function of personal property.

22. 2025-11-21
    price $119,850 469-char remark

    Show marketing remark (469 chars)

    Bank owned property being sold as-is. 2 bedroom with additional space and closets. Large garage and nice size back yard and big shed. Please contact a local to Woonsocket area agent for showing. Idaho Housing and Finance as seller cannot offer secondary financing with FHA first mortgages. No offers will be accepted until 10 days past the listing date of 8/21/25. Idaho Housing and Finance does not guarantee any personal property or the function of personal property.

23. 2025-10-20
    price $126,900 469-char remark

    Show marketing remark (469 chars)

    Bank owned property being sold as-is. 2 bedroom with additional space and closets. Large garage and nice size back yard and big shed. Please contact a local to Woonsocket area agent for showing. Idaho Housing and Finance as seller cannot offer secondary financing with FHA first mortgages. No offers will be accepted until 10 days past the listing date of 8/21/25. Idaho Housing and Finance does not guarantee any personal property or the function of personal property.

24. 2025-09-22
    price $133,950 469-char remark

    Show marketing remark (469 chars)

    Bank owned property being sold as-is. 2 bedroom with additional space and closets. Large garage and nice size back yard and big shed. Please contact a local to Woonsocket area agent for showing. Idaho Housing and Finance as seller cannot offer secondary financing with FHA first mortgages. No offers will be accepted until 10 days past the listing date of 8/21/25. Idaho Housing and Finance does not guarantee any personal property or the function of personal property.

25. 2025-08-21
    listed $141,000 Active 469-char remark

    Show marketing remark (469 chars)

    Bank owned property being sold as-is. 2 bedroom with additional space and closets. Large garage and nice size back yard and big shed. Please contact a local to Woonsocket area agent for showing. Idaho Housing and Finance as seller cannot offer secondary financing with FHA first mortgages. No offers will be accepted until 10 days past the listing date of 8/21/25. Idaho Housing and Finance does not guarantee any personal property or the function of personal property.

26. 2021-03-17
    soldstatus $65,000
27. 2012-01-09
    soldstatus $69,000
28. 2012-01-05
    soldstatus $69,000 209-char remark

    Show marketing remark (209 chars)

    Great 3 bedroom, 2 car garage, has two large storage sheds. Fireplace in 4 seasons room, eat-in kitchen plus many extras. Personal property included: Stove, Refrigerator, washer/dryer & window coverings.

29. 2011-11-01
    listed $69,900 209-char remark

    Show marketing remark (209 chars)

    Great 3 bedroom, 2 car garage, has two large storage sheds. Fireplace in 4 seasons room, eat-in kitchen plus many extras. Personal property included: Stove, Refrigerator, washer/dryer & window coverings.

ⓘ 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 ≥102°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: $12,880
• − Mortgage interest: −$4,344
• − Property taxes: −$1,163
• − Insurance: −$388
• − Repairs & maintenance: −$1,030
• − Management: −$1,030
• − Depreciation: −$2,256
• Taxable income: $2,668
• Est. tax owed @ 24.0%: −$640
• After-tax cash flow: $3,104/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: Woonsocket School District 55-4
• NCES district ID: 4680190
• Math proficiency: 40% ▬ 0.00%
• Reading proficiency: 50% ▬ 0.00%
• Median HH income: $47,841
• Composite: 40.63/100
• National rank: #7641
• State rank: #101 of 148 in SD

Livability — Woonsocket

• Score: 66/100
• State rank: #113
• US rank: #11322

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Woonsocket, SD
• Population (ZIP): 1,365

Population outlook (Sanborn County) Hauer SSP2

• Today (2025): 2,335 people
• By 2030: 2,377 · +1.8%
• By 2040: 2,400 · +2.8%
• By 2050: 2,492 · +6.7%
• By 2075: 3,110 · +33.2%
• By 2100: 3,806 · +63.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Portuguese 15% Iranian 5% Lithuanian 3%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Sanborn

• 2024 margin: Solid R (+55.3) · D 21.4% · R 76.7% · Other 2.0%
• 2008→2024 swing: -41.3pp toward R · 2008: -14.0pp · 2024: -55.3pp
• All cycles: 2024: R+55.3 2020: R+54.7 2016: R+51.5 2012: R+26.8 2008: R+14.0

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

+21.0% since first listed

13 events — show timeline

• 2026-04-24 Price Changed $84,600 REALTOR® Association of the Sioux Empire
• 2026-03-23 Price Changed $91,650 REALTOR® Association of the Sioux Empire
• 2026-02-23 Price Changed $98,700 REALTOR® Association of the Sioux Empire
• 2026-01-22 Price Changed $105,750 REALTOR® Association of the Sioux Empire
• 2025-12-19 Price Changed $112,800 REALTOR® Association of the Sioux Empire
• 2025-11-21 Price Changed $119,850 REALTOR® Association of the Sioux Empire
• 2025-10-20 Price Changed $126,900 REALTOR® Association of the Sioux Empire
• 2025-09-22 Price Changed $133,950 REALTOR® Association of the Sioux Empire
• 2025-08-21 Listed $141,000 REALTOR® Association of the Sioux Empire
• 2021-03-17 Sold (Public Records) $65,000 Public Records
• 2012-01-09 Sold (Public Records) $69,000 Public Records
• 2012-01-05 Sold (MLS) $69,000 HBOR
• 2011-11-01 Listed $69,900 HBOR