1017 E 8th St St · Sioux Falls, SD 57103

$125,000

2 bd · 2.0 ba · 1,068 sqft · SingleFamily public records · 3 Days on market

Built 1910 4,752 sqft lot Est $188k · 33% under

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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).

• ARV discount +15.0/15.0
• Cash flow +14.1/30.0
• DSCR +4.3/10.0
• Livability +4.2/5.0
• 1% rule +4.1/10.0
• Schools +3.7/10.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• Covered front porch
• Centrally located
• Full basement

Tags

• COVERED FRONT PORCH
• FULL BASEMENT
• DETACHED GARAGE
• CENTRALLY LOCATED

Property features AI

Finance

• Other: Lot dimensions approximately 33 x 144; Road with curb and gutter on a publicly maintained street; Located inside city limits

Exterior

• Parking: Detached garage (1 car) approximately 19 x 17 with extra pad; Drive surfaces include concrete and gravel
• Utilities: Public water; Public sewer
• Home design: Single-family ranch-style home; Above-grade finished area approximately 1,068; Below-grade finished area approximately 80; Below-grade unfinished area approximately 640; Land is owned
• Construction: Vinyl siding; Block foundation; Rubber and composition roof
• Exterior features: Patio; Front porch; City lot; Additional buildings on property

Interior

• Kitchen: Range; Microwave; Refrigerator; Tile in kitchen
• Bedrooms: Main floor primary bedroom with ceiling fan and single closet (approx. 9 x 11); Main floor second bedroom with single closet (approx. 9 x 10); Basement third bedroom (non-legal) (approx. 8 x 10)
• Flooring: Carpet; Tile; Concrete
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Central air; Natural gas water heater
• Interior features: Main floor laundry; Full basement
• Laundry & utility: Washer; Dryer; Main level laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $18 ($216/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 $113k (9.3% below list).
• Recommended offer: $113k (9.3% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 2.6% in Sioux Falls — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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); Whittier Middle School - 08 (math 14% / reading 26%, grade F, #133 of 143 statewide, top 93%, 704 students, 70% FRL); Washington High School - 01 (math 33% / reading 57%, grade D-, #110 of 151 statewide, top 73%, 1,910 students, 39% FRL) — zoned schools average 62% FRL vs 36% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 29% at this address vs 44% district-wide (-14 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: Rents rising (+3.2%/yr); 163 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Minnehaha County population projected at +46% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $35k; list at $125k implies a 257% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $113,413 (9.3% below list)

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 0.91% ✗
• Cap rate: 6.47%
• Cash-on-cash: 0.62%
• DSCR: 1.03
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $187,968
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
304 N Highland Ave	0.50mi	2/1.0	1,065 (-0%)	9mo	$124,900	$117	65
1408 E 9th St St	0.27mi	2/1.5	1,158 (+8%)	9mo	$150,500	$130	64
1805 E 6th St St	0.53mi	3/1.5 (+1)	1,074 (+1%)	7mo	$189,000	$176	61
404 S Highland Ave Ave	0.56mi	2/1.0	1,012 (-5%)	4mo	$205,000	$203	58
819 N Cliff Ave Ave	0.59mi	2/2.0	1,160 (+9%)	2mo	$155,000	$134	56
205 N Lewis Ave Ave	0.60mi	2/2.0	995 (-7%)	8mo	$150,000	$151	55
829 N Van Eps Ave Ave	0.55mi	2/1.0	968 (-9%)	2mo	$195,000	$201	53
700 N Mable Ave Ave	0.61mi	1/1.0 (-1)	960 (-10%)	1mo	$115,000	$120	45
719 N Sherman Ave Ave	0.46mi	3/1.0 (+1)	912 (-15%)	2mo	$184,000	$202	44
1300 E Prospect St	0.64mi	3/1.0 (+1)	1,000 (-6%)	9mo	$145,000	$145	43
2115 E Austin St St	0.74mi	3/2.0 (+1)	1,178 (+10%)	6mo	$261,500	$222	39
1612 E 2nd St	0.68mi	2/1.0	924 (-14%)	11mo	$235,000	$254	33

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 · 3.23% rent growth · sell at horizon

5-year hold

• IRR: -15.0%
• Equity multiple: 0.46×
• Total profit: $-18,822
• Equity at exit: $18,638

10-year hold

• IRR: -6.0%
• Equity multiple: 0.61×
• Total profit: $-13,727
• Equity at exit: $10,808

Cash invested: $35,000 (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

• Rents YoY: 3.2%
• Active inventory: 163
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,134 high
• Mortgage (P&I): −$656
• Tax from tax record: −$170 /mo · $2,045/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$238
• Net cashflow: $18

Break-even live

Break-even rent $1,111

Max offer price $125,000

Occupancy floor 93%

Sensitivity live

Price	-10% $89	-5% $53	+0% $18	+5% $-17	+10% $-53
Rent	-10% $-72	-5% $-27	+0% $18	+5% $63	+10% $108
Rate	-1.0pp $81	-0.5pp $50	base $18	+0.5pp $-14	+1.0pp $-47

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1227 E 8th St Sioux Falls, SD	2.0	1.0	700	$749	$1.07	45d	1	0.13mi
1511 E Nye St Sioux Falls, SD	2.0	1.0	907	$975	$1.07	45d	1	0.36mi
124 S Blauvelt Ave Unit 117 Sioux Falls, SD	2.0	2.0	900	$1,095	$1.22	23d	1	0.36mi
113 S Mable Ave Unit 212 Sioux Falls, SD	2.0	2.0	900	$1,095	$1.22	15d	1	0.38mi
514 N French Ave Sioux Falls, SD	2.0	1.0	850	$1,450	$1.71	15d	1	0.38mi
332 N Blauvelt Ave Sioux Falls, SD	3.0	2.0	1200	$995	$0.83	23d	1	0.38mi
1329 E 4th St Sioux Falls, SD	2.0	1.0	700	$1,050	$1.50	45d	1	0.45mi
310 N Reid Pl Sioux Falls, SD	3.0	1.0–3.0	1251	$3,783	$3.02	15d	7	0.49mi
909 E 14th St Sioux Falls, SD	1.0	1.0	780	$995	$1.28	23d	3	0.50mi
350 N Reid Pl Sioux Falls, SD	2.0	1.0–2.0	898	$3,000	$3.34	15d	9	0.54mi
325 E 12th St Sioux Falls, SD	1.0–2.0	1.0–2.0	954	$1,680	$1.76	15d	11	0.60mi
205 E 12th St Sioux Falls, SD	1.0–2.0	1.0–2.0	772	$2,430	$3.15	15d	28	0.68mi
155 E 4th Pl Sioux Falls, SD	2.0	1.0–2.0	950	$3,240	$3.41	15d	12	0.69mi
230 S Phillips Ave Unit 405 Sioux Falls, SD	2.0	1.0	925	$1,625	$1.76	23d	1	0.70mi
950 N Cliff Ave Sioux Falls, SD	1.0–3.0	1.0–2.0	970	$799	$0.82	45d	1	0.78mi
101 S Main Ave Sioux Falls, SD	1.0–2.0	1.0–2.0	1143	$2,450	$2.14	45d	2	0.79mi
758 S 3rd Ave Sioux Falls, SD	2.0	1.0	900	$900	$1.00	23d	1	0.83mi
300 S Lowell Ave Sioux Falls, SD	1.0–2.0	1.0	648	$885	$1.36	15d	16	0.87mi
701 N Phillips Ave Sioux Falls, SD	2.0	1.0–2.5	894	$2,589	$2.90	15d	17	0.91mi
633 S Main Ave Unit 2 Sioux Falls, SD	2.0	1.5	980	$950	$0.97	45d	1	0.95mi
801 S Phillips Ave Unit 1 Sioux Falls, SD	1.0	1.0	800	$735	$0.92	45d	1	0.96mi
647 S Main Ave Sioux Falls, SD	2.0	2.0	1224	$1,097	$0.90	15d	2	0.97mi
100 W 17th St Apt 15 Sioux Falls, SD	2.0	1.5	1000	$1,195	$1.20	23d	1	0.99mi
100 W 17th St Unit 17 Sioux Falls, SD	1.0	1.0	965	$895	$0.93	23d	1	0.99mi
112 W 17th St Unit 7 Sioux Falls, SD	2.0	1.0	1000	$1,150	$1.15	45d	1	1.02mi
516 W 8th St Unit 05 Sioux Falls, SD	1.0	1.0	700	$710	$1.01	15d	1	1.02mi
600 E 21st St Unit 1 (F) Sioux Falls, SD	2.0	1.0	800	$1,476	$1.84	23d	1	1.02mi
1509 E Bennett St Unit 1509 Bennet Sioux Falls, SD	2.0	1.0	1150	$850	$0.74	23d	1	1.07mi
1509 E Bennett St #1 Sioux Falls, SD	2.0	1.0	1100	$900	$0.82	23d	1	1.07mi
221 N Cleveland Ave Sioux Falls, SD	1.0–3.0	1.0–1.5	922	$805	$0.87	23d	1	1.07mi
210 W 17th St Sioux Falls, SD	2.0	1.0	720	$1,000	$1.39	45d	1	1.07mi
602 W 9th St Sioux Falls, SD	2.0	1.0	900	$1,100	$1.22	15d	1	1.08mi
205 W 18th St Sioux Falls, SD	1.0–2.0	1.0	1000	$995	$0.99	23d	2	1.10mi
807 N Cleveland Ave Unit 805-308 Sioux Falls, SD	2.0	1.0	840	$975	$1.16	15d	1	1.12mi
807 N Cleveland Ave Unit 801-301 Sioux Falls, SD	2.0	1.0	840	$1,005	$1.20	15d	1	1.12mi
807 N Cleveland Ave Unit 801-307 Sioux Falls, SD	2.0	1.0	820	$975	$1.19	45d	1	1.12mi
301 W 18th St Unit 2 Sioux Falls, SD	1.0	1.0	900	$685	$0.76	45d	1	1.13mi
1612 S Cliff Ave Sioux Falls, SD	2.0	1.0	1000	$1,400	$1.40	45d	1	1.14mi
1908 E Rice St Sioux Falls, SD	1.0	1.0	700	$649	$0.93	45d	1	1.14mi
425 W 16th St Unit 427 Sioux Falls, SD	3.0	1.5	1200	$1,200	$1.00	45d	1	1.17mi

Listing history 3 events

1. 2026-05-22
   status Pending
2. 2026-05-18
   listed $125,000 Active
3. 2004-05-20
   soldstatus $35,000

ⓘ 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: $2,045 · $170/mo
• Projected year-2 tax: $2,045 · $170/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 FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 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: $13,610
• − Mortgage interest: −$7,002
• − Property taxes: −$2,045
• − Insurance: −$625
• − Repairs & maintenance: −$1,089
• − Management: −$1,089
• − Depreciation: −$3,636
• Taxable loss: −$1,876
• Est. tax savings @ 24.0%: +$450
• After-tax cash flow: $666/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
• County: Minnehaha County · 191,523 people
• City population: 207,623
• Metro: Sioux Falls, SD
• Population (ZIP): 35,582
• Household income: $72,831
• Rent vs Own: 33.9% rent · 66.1% own
• Severe rent burden: 867.0

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%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Black 10% Two or more races 9% Hispanic / Latino 7% Asian 2% Native American 2%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Portuguese 11% Iranian 5% Italian 2%
• Foreign-born: 10% · Canada, India
• Languages at home: 86% English-only · Spanish 5% Other Indo-European 2% Other Asian/Pacific 1%

Political lean MEDSL · Minnehaha

• 2024 margin: R (+12.7) · D 42.5% · R 55.2% · Other 2.4%
• 2008→2024 swing: -13.4pp toward R · 2008: 0.7pp · 2024: -12.7pp
• All cycles: 2024: R+12.7 2020: R+9.5 2016: R+14.6 2012: R+7.4 2008: D+0.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -163.45%
• Current HPI: 221.5758
• Rent YoY: ▲ 3.23%
• Metro: Sioux Falls, SD
• 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

+257.1% since first listed

3 events — show timeline

• 2026-05-22 Pending — REALTOR® Association of the Sioux Empire
• 2026-05-18 Listed $125,000 REALTOR® Association of the Sioux Empire
• 2004-05-20 Sold (Public Records) $35,000 Public Records

Property tax history

+5.7%/yr

Latest (2024): $2,045 · +3.9% YoY. Source: county tax records.