224 1st St St SW · Highmore, SD 57345

$77,500

3 bd · 1.0 ba · 1,179 sqft · Other · 114 Days on market

Built 1919

---

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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Schools +4.5/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• Garage
• Built 1919
• Listed 114 days

Property features AI

Exterior

• Parking: Attached or detached garage with 1 parking space
• Home design: Residential property
• Exterior features: Zoned A

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $78k.

Deal economics

• At list price, monthly cash flow is $314 ($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: $71k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#75 in SD) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: health & safety C-, crime D, amenities F.
• Highmore-Harrold 34-2 (rural): math 50% / reading 50% proficiency, ranked #69 of 148 in SD (top 47%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 4 active listings in the ZIP.

Forward outlook

• In year one you build about $3k of equity ($536 loan paydown + $2k appreciation (3.0% local appreciation)).
• Hyde County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 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 114 days — a 9% lower offer ($71k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 3% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1919 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $70,525 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1919 — 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 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?
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: 11.15%
• Cash-on-cash: 17.36%
• DSCR: 1.77
• GRM: 6.0

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: 23.8%
• Equity multiple: 2.35×
• Total profit: $29,340
• Equity at exit: $34,847

10-year hold

• IRR: 24.7%
• Equity multiple: 4.52×
• Total profit: $76,464
• Equity at exit: $53,704

Cash invested: $21,700 (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 57345

• Active inventory: 4
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,071 medium
• Mortgage (P&I): −$406
• Tax from tax record: −$94 /mo · $1,126/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $314

Break-even live

Break-even rent $674

Max offer price $77,500

Occupancy floor 66%

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: $19,375
• Closing costs: $2,325
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-16
   days on market $77,500 Active 114 DOM
2. 2026-06-15
   days on market $77,500 Active 113 DOM
3. 2026-06-14
   days on market $77,500 Active 111 DOM
4. 2026-06-12
   days on market $77,500 Active 110 DOM
5. 2026-06-09
   days on market $77,500 Active 107 DOM
6. 2026-06-08
   days on market $77,500 Active 106 DOM
7. 2026-06-07
   days on market $77,500 Active 105 DOM
8. 2026-06-05
   days on market $77,500 Active 103 DOM
9. 2026-06-04
   days on market $77,500 Active 101 DOM
10. 2026-06-02
    days on market $77,500 Active 100 DOM
11. 2026-06-01
    days on market $77,500 Active 99 DOM
12. 2026-05-31
    days on market $77,500 Active 98 DOM
13. 2026-05-31
    days on market $77,500 Active 97 DOM
14. 2026-04-20
    price $77,500
15. 2026-04-20
    status Active
16. 2025-08-13
    status Pending
17. 2025-06-17
    listed $75,000 Active

ⓘ 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: $1,126 · $94/mo
• Projected year-2 tax: $1,126 · $94/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 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 12 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,857
• − Mortgage interest: −$4,341
• − Property taxes: −$1,126
• − Insurance: −$388
• − Repairs & maintenance: −$1,029
• − Management: −$1,029
• − Depreciation: −$2,255
• Taxable income: $2,690
• Est. tax owed @ 24.0%: −$646
• After-tax cash flow: $3,121/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: Highmore-Harrold 34-2
• NCES district ID: 4680440
• Math proficiency: 50% ▲ 10.00%
• Reading proficiency: 50% ▲ 5.00%
• Median HH income: $47,475
• Composite: 44.56/100
• National rank: #6048
• State rank: #69 of 148 in SD

Livability — Highmore

• Score: 69/100
• State rank: #75
• US rank: #8621

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Highmore, SD
• Population (ZIP): 1,089

Population outlook (Hyde County) Hauer SSP2

• Today (2025): 1,361 people
• By 2030: 1,336 · -1.8%
• By 2040: 1,287 · -5.4%
• By 2050: 1,261 · -7.3%
• By 2075: 1,440 · +5.8%
• By 2100: 1,725 · +26.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 14% Hispanic / Latino 2%
• Common ancestry: Portuguese 13% Lithuanian 2% Scotch-Irish 1%
• Foreign-born: 0%

Political lean MEDSL · Hyde

• 2024 margin: Solid R (+55.0) · D 21.3% · R 76.3% · Other 2.5%
• 2008→2024 swing: -14.1pp toward R · 2008: -40.9pp · 2024: -55.0pp
• All cycles: 2024: R+55.0 2020: R+60.3 2016: R+60.6 2012: R+46.7 2008: R+40.9

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

+3.3% since first listed

4 events — show timeline

• 2026-04-20 Price Changed $77,500 HBOR
• 2026-04-20 Relisted — HBOR
• 2025-08-13 Pending — HBOR
• 2025-06-17 Listed $75,000 HBOR

Property tax history

+4.4%/yr

Latest (2024): $1,126 · +5.0% YoY. Source: county tax records.