203 E 6th Ave Ave · Sisseton, SD 57262

$112,000

2 bd · 2.0 ba · 2,083 sqft · Other · 35 Days on market

Built 1936 0.25 ac lot $54/sqft · 22% below area Est $143k · 22% under ↓ 30% since listing

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Why this score? — see what drove the C 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 +17.0/30.0
• ARV discount +15.0/15.0
• DSCR +5.3/10.0
• Appreciation +5.0/10.0
• 1% rule +4.6/10.0
• Livability +3.4/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• 0.25 acre lot
• 3 garage spots
• Built 1936

Property features AI

Finance

• Financial info: Annual tax information available

Exterior

• Parking: Detached garage with 3 spaces; Garage dimensions: 23 x 23 and 11 x 22; Oversized garage with separate workshop
• Home design: Single family residence; Architectural style: Other
• Construction: Below-grade finished area and unfinished area present
• Exterior features: Composition roof; Land is owned; Lot dimensions approximately 88 x 125

Interior

• Kitchen: Kitchen on the main level (approx. 10 x 19)
• Bedrooms: Main-level master bedroom (approx. 13 x 15); Main-level second bedroom (approx. 11 x 11)
• Flooring: Tile; Vinyl; Wood
• Bathrooms: One full bathroom on the main level; One 3/4 bathroom in the basement
• Interior features: Formal dining room; Full basement with potential for another bedroom; Basement family room with fireplace

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $112k.

Deal economics

• At list price, monthly cash flow is $76 ($912/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $108k (3.9% below list).
• Recommended offer: $108k (3.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 67/100 on livability (#97 in SD) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: health & safety C-, schools F, amenities F.
• Sisseton School District 54-2 (rural): math 34% / reading 42% proficiency, ranked #54 of 59 in SD (top 92%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 5 active listings in the ZIP; 23 units permitted in Roberts County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($774 loan paydown + $3k appreciation (3.0% local appreciation)).
• Roberts County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $8k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1936 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $107,600 (3.9% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 4% concession, seller financing, or rate buy-down credit?
2. Built in 1936 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.96% ✗
• Cap rate: 7.11%
• Cash-on-cash: 2.91%
• DSCR: 1.13
• GRM: 8.7

CMA / ARV

• ARV (median comp): $143,198
• List price: $112,000
• Delta: -21.79%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 10.2%
• Equity multiple: 1.59×
• Total profit: $18,351
• Equity at exit: $50,360

10-year hold

• IRR: 12.5%
• Equity multiple: 2.87×
• Total profit: $58,580
• Equity at exit: $77,611

Cash invested: $31,360 (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 57262

• Active inventory: 5
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,076 medium
• Mortgage (P&I): −$587
• Tax est. 1.5%: −$140 /mo · $1,680/yr
• Insurance: −$47
• HOA: −$0
• Vacancy / Maint / Mgmt: −$226
• Net cashflow: $76

Break-even live

Break-even rent $980

Max offer price $112,000

Occupancy floor 88%

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: $28,000
• Closing costs: $3,360
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $112,000 Active 35 DOM
2. 2026-06-17
   days on market $112,000 Active 34 DOM
3. 2026-06-16
   days on market $112,000 Active 33 DOM
4. 2026-06-15
   days on market $112,000 Active 32 DOM
5. 2026-06-13
   days on market $112,000 Active 30 DOM
6. 2026-06-12
   days on market $112,000 Active 29 DOM
7. 2026-06-09
   days on market $112,000 Active 26 DOM
8. 2026-06-08
   days on market $112,000 Active 25 DOM
9. 2026-06-08
   days on market $112,000 Active 24 DOM
10. 2026-06-05
    days on market $112,000 Active 22 DOM
11. 2026-06-04
    days on market $112,000 Active 20 DOM
12. 2026-06-02
    days on market $112,000 Active 19 DOM
13. 2026-06-01
    price $112,000 Active 18 DOM
14. 2026-06-01
    days on market $120,000 Active 18 DOM
15. 2026-05-31
    days on market $120,000 Active 17 DOM
16. 2026-05-14
    listed $120,000 Active 532-char remark
17. 2026-05-14
    historical
18. 2026-04-24
    price $120,000
19. 2026-03-23
    price $128,000
20. 2026-02-24
    price $136,000
21. 2026-01-21
    price $144,000
22. 2025-12-17
    price $152,000
23. 2025-11-13
    listed $160,000 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

• 🌊 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 · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,912
• − Mortgage interest: −$6,274
• − Property taxes: −$1,680
• − Insurance: −$560
• − Repairs & maintenance: −$1,033
• − Management: −$1,033
• − Depreciation: −$3,258
• Taxable loss: −$926
• Est. tax savings @ 24.0%: +$222
• After-tax cash flow: $1,135/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: Sisseton School District 54-2
• NCES district ID: 4600053
• Math proficiency: 34% ▲ 7.00%
• Reading proficiency: 42% ▲ 7.00%
• Median HH income: $39,282
• Composite: 31.79/100
• National rank: #5888
• State rank: #54 of 59 in SD

Livability — Sisseton

• Score: 67/100
• State rank: #97
• US rank: #10604

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sisseton, SD
• Population (ZIP): 5,043

Population outlook (Roberts County) Hauer SSP2

• Today (2025): 10,364 people
• By 2030: 10,440 · +0.7%
• By 2040: 10,680 · +3.0%
• By 2050: 11,162 · +7.7%
• By 2075: 14,113 · +36.2%
• By 2100: 18,926 · +82.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.86)
• Race & ethnicity: Native American 55% White 37% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Portuguese 15% Danish 1% Lithuanian 1%
• Foreign-born: 0%

Political lean MEDSL · Roberts

• 2024 margin: Strong R (+23.0) · D 37.6% · R 60.6% · Other 1.8%
• 2008→2024 swing: -42.6pp toward R · 2008: 19.6pp · 2024: -23.0pp
• All cycles: 2024: R+23.0 2020: R+13.4 2016: R+15.5 2012: D+9.8 2008: D+19.6

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

-30.0% since first listed

9 events — show timeline

• 2026-06-01 Price Changed $112,000 REALTOR® Association of the Sioux Empire
• 2026-05-14 Listed $120,000 REALTOR® Association of the Sioux Empire
• 2026-05-14 Listing Removed — REALTOR® Association of the Sioux Empire
• 2026-04-24 Price Changed $120,000 REALTOR® Association of the Sioux Empire
• 2026-03-23 Price Changed $128,000 REALTOR® Association of the Sioux Empire
• 2026-02-24 Price Changed $136,000 REALTOR® Association of the Sioux Empire
• 2026-01-21 Price Changed $144,000 REALTOR® Association of the Sioux Empire
• 2025-12-17 Price Changed $152,000 REALTOR® Association of the Sioux Empire
• 2025-11-13 Listed $160,000 REALTOR® Association of the Sioux Empire