2104 E Tricia Ln Ln · Sioux Falls, SD 57103-0744

$345,000

4 bd · 3.0 ba · 1,976 sqft · SingleFamily public records · 16 Days on market

Built 1980 7,501 sqft lot Est $318k · 8% over

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Why this score? — see what drove the F 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).

• Appreciation +5.0/10.0
• Cash flow +4.2/30.0
• Livability +4.2/5.0
• ARV discount +3.7/15.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Looking For 3 Bedrooms On The Same Level? This 4 Bed, 2 Bath Ranch Home Has Just What You Are Looking For. Nice Layout With U-shaped Kitchen & Patio Doors Off Dining Room To The Deck. Walkout Ll With Family Room, Gas Fireplace & Bonus Room. New Furnace In 2004. Backyard Has Storage Shed & Nice Landscaping Throughout. Double Attached Garage.

Key facts

• Brand-new deck
• Great location
• 7,501 sq ft lot

Tags

• BRAND-NEW WATER HEATER
• BRAND-NEW DECK
• SPACIOUS LIVING AREAS
• BEAUTIFUL LANDSCAPING
• GREAT LOCATION

Property features AI

Exterior

• Parking: Attached 2-car garage with concrete drive (21 x 22)
• Utilities: Public water; Public sewer
• Home design: Single-family ranch-style home; Above-grade and below-grade finished living areas; Other structures on lot
• Construction: Built with synthetic stucco and hard board; Block foundation; Composition roof
• Exterior features: Deck; Patio; Covered patio; Chain link fence; Shed(s); Walk-out lot

Interior

• Kitchen: New appliances; Electric range; Dishwasher; Garbage disposal; Refrigerator
• Bedrooms: Main-level bedroom: 12 x 11 with double closet; Main-level bedroom: 14 x 10 with double closet; Main-level bedroom: 12 x 10 with double closet; Lower-level master: 13 x 14 with walk-in closet
• Flooring: Carpet; Tile; Laminate
• Bathrooms: Main-level full bath; Lower-level 3/4 bath; One full bathroom and one 3/4 bathroom total
• Heating & cooling: Natural gas heating; Central air; Natural gas water heater
• Interior features: Basement is finished (full basement); Gas fireplace in the family room; Humidifier; 3+ bedrooms on the same level; Water softener stays
• Laundry & utility: Utility room in lower level

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $345k.

Deal economics

• At list price, monthly cash flow is $-929 ($-11k/yr) — negative.
• To cash-flow at today's rent, offer at most $181k (47.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $165k (52.2% below list).
• Recommended offer: $165k (52.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 85/100 on livability (#3 in SD, #610 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F.
• Sioux Falls School District 49-5 (urban): math 39% / reading 48% proficiency, ranked #45 of 59 in SD (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Terry Redlin Elementary - 11 (math 17% / reading 27%, grade F, #228 of 253 statewide, top 92%, 473 students, 77% FRL) — zoned schools average 77% FRL vs 36% district-wide (42 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 22% at this address vs 44% district-wide (-22 pts) — the specific schools serving this property underperform the Sioux Falls School District 49-5 average; the district grade overstates school quality for this exact location.
• Market conditions: 1 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 2,425 units permitted in Minnehaha County in 2024 (1,367 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($2k loan paydown + $10k appreciation (3.0% local appreciation)).
• Minnehaha County population projected at +46% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($340k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 20y 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.
• Current owner paid $152k; list at $345k implies a 127% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $165,058 (52.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.48% ✗
• Cap rate: 3.06%
• Cash-on-cash: -11.54%
• DSCR: 0.49
• GRM: 17.4

CMA / ARV

• ARV (on-the-fly): $318,136
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1028 N Mable Cir Cir	0.19mi	4/2.0	2,120 (+7%)	0mo	$371,500	$175	75
1601 E Tracy Ln Ln	0.34mi	4/2.5	2,001 (+1%)	8mo	$335,000	$167	74
1716 E Tracy Ln	0.25mi	3/2.0 (-1)	1,988 (+1%)	11mo	$366,000	$184	69
2004 E Madison St	0.08mi	4/2.0	1,756 (-11%)	10mo	$272,004	$155	66
904 N Highland Ave Ave	0.29mi	5/3.0 (+1)	2,194 (+11%)	2mo	$325,000	$148	62
919 N Omaha Ave Ave	0.14mi	5/2.0 (+1)	1,729 (-12%)	4mo	$265,000	$153	60
743 N Leadale Ave Ave	0.26mi	3/2.0 (-1)	1,772 (-10%)	4mo	$197,000	$111	59
2009 E Madison St St	0.10mi	3/2.0 (-1)	1,698 (-14%)	9mo	$284,500	$168	56
2001 E 1st St	0.20mi	3/2.0 (-1)	1,770 (-10%)	13mo	$266,000	$150	54
1204 N Mossy Oak Ave	0.58mi	4/2.0	1,838 (-7%)	9mo	$325,000	$177	50
703 N Van Eps Ave	0.58mi	4/2.0	2,152 (+9%)	11mo	$263,000	$122	44
2501 E 7th St	0.69mi	4/2.0	1,806 (-9%)	10mo	$289,900	$161	41

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -3.2%
• Equity multiple: 0.82×
• Total profit: $-17,678
• Equity at exit: $155,127

10-year hold

• IRR: 1.3%
• Equity multiple: 1.21×
• Total profit: $19,953
• Equity at exit: $239,069

Cash invested: $96,600 (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 57103-0744

• Active inventory: 1
• Price-to-rent: 17.4×

Monthly cashflow live

• Estimated rent: $1,651 high
• Mortgage (P&I): −$1,809
• Tax from tax record: −$280 /mo · $3,360/yr
• Insurance: −$144
• HOA: −$0
• Vacancy / Maint / Mgmt: −$347
• Net cashflow: $-929

Break-even live

Break-even rent $2,827

Max offer price $180,882

Occupancy floor —

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: $86,250
• Closing costs: $10,350
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3210 E 3rd St Unit 3210 Sioux Falls, SD	3.0	2.0	2100	$1,895	$0.90	20d	1	0.75mi
2909 E 6th St Sioux Falls, SD	3.0	1.0–2.0	773	$1,539	$1.99	13d	1	0.83mi
500 N Shepherd Ave Unit 201 Sioux Falls, SD	3.0	2.0	1346	$1,475	$1.10	13d	1	0.84mi
500 N Shepherd Ave Unit 203 Sioux Falls, SD	3.0	2.0	1346	$1,475	$1.10	43d	1	0.84mi
310 N Reid Pl Sioux Falls, SD	3.0	1.0–3.0	1251	$5,000	$4.00	13d	7	1.36mi
440 E 8th St Sioux Falls, SD	3.0	3.0	1900	$4,800	$2.53	20d	1	1.37mi
626 N Sycamore Ave Sioux Falls, SD	4.0	3.0	2364	$2,200	$0.93	13d	1	1.45mi
626 N Sycamore Ave #204 Sioux Falls, SD	3.0	2.0	1260	$999	$0.79	20d	1	1.45mi

Listing history 16 events

1. 2026-06-18
   days on market $345,000 Active 16 DOM
2. 2026-06-17
   days on market $345,000 Active 15 DOM
3. 2026-06-16
   days on market $345,000 Active 14 DOM
4. 2026-06-15
   days on market $345,000 Active 13 DOM
5. 2026-06-14
   days on market $345,000 Active 11 DOM
6. 2026-06-13
   days on market $345,000 Active 10 DOM
7. 2026-06-10
   days on market $345,000 Active 8 DOM
8. 2026-06-09
   days on market $345,000 Active 7 DOM
9. 2026-06-08
   days on market $345,000 Active 6 DOM
10. 2026-06-07
    days on market $345,000 Active 5 DOM
11. 2026-06-05
    days on market $345,000 Active 2 DOM
12. 2026-06-03
    days on marketlisting id $345,000 Active 1 DOM
13. 2026-06-02
    days on market $345,000 Active 4 DOM
14. 2026-06-01
    days on market $345,000 Active 3 DOM
15. 2026-05-31
    days on market $345,000 Active 2 DOM
16. 2026-05-30
    listed $345,000 Active 1 DOM

ⓘ 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: $3,360 · $280/mo
• Projected year-2 tax: $4,520 · $377/mo
• Expected delta: +$1,159/yr (+$97/mo · 34.5%)

ⓘ 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 5/10 Major
• 🌡 Heat 2/10 Low 7 d/yr ≥99°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: $19,807
• − Mortgage interest: −$19,325
• − Property taxes: −$3,360
• − Insurance: −$1,725
• − Repairs & maintenance: −$1,585
• − Management: −$1,585
• − Depreciation: −$10,036
• Taxable loss: −$17,809
• Est. tax savings @ 24.0%: +$4,274
• After-tax cash flow: $-6,874/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: Sioux Falls School District 49-5
• NCES district ID: 4666270
• Math proficiency: 39% ▼ -4.00%
• Reading proficiency: 48% ▼ -2.00%
• Median HH income: $51,093
• Composite: 37.47/100
• National rank: #4407
• State rank: #45 of 59 in SD

Livability — Sioux Falls

• Score: 85/100
• State rank: #3
• US rank: #610

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sioux Falls, SD

Population outlook (Minnehaha County) Hauer SSP2

• Today (2025): 222,323 people
• By 2030: 241,430 · +8.6%
• By 2040: 281,643 · +26.7%
• By 2050: 325,574 · +46.4%
• By 2075: 469,313 · +111.1%
• By 2100: 664,763 · +199.0%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• 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

+146.6% since first listed

4 events — show timeline

• 2026-05-29 Listed $345,000 REALTOR® Association of the Sioux Empire
• 2015-07-02 Sold (Public Records) $152,000 Public Records
• 2007-04-10 Sold (Public Records) $139,900 Public Records
• 2006-11-04 Listed $139,900 REALTOR® Association of the Sioux Empire

Property tax history

+5.2%/yr

Latest (2024): $3,360 · -2.8% YoY. Source: county tax records.