3024 S Valley Dr · Rapid City, SD 57703

$30,000

2 bd · 1.0 ba · 924 sqft · Manufactured · 2 Days on market

Built 1973 Est $35k · 15% 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).

• Cash flow +15.0/30.0
• ARV discount +14.1/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +4.3/5.0
• Livability +3.7/5.0
• Schools +3.4/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Listed by Lonnie Doney, KWBH, 605-407-1048. Convenient 1-level living in this move in ready mobile home on a rented lot! * Built in 1997, this 16'x60' mobile home offers 2 bedrooms, 1 bathroom and 960qft * Main living area with a comfortable living room with subtle vaulted ceilings and good natual light * Spacious corner kitchen with tons of cabinet and counter space, a cozy breakfast bar and eat in dining space * Main level laundry in the hall for easy access * 2 bedrooms in back of the home for privacy * 1 bathroom with walk in shower * Outside has a wooden front deck that overlooks the fenced yard * Storage shed on the property for plenty of outdoor storage * Gravel parking space out front for off street parking. Lot rent is $540/mo.

Key facts

• Built 1973
• Listed 2 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $30k.

Deal economics

• At list price, monthly cash flow is $904 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• Cap rate 42.5% vs local median 2.5% in Rapid City — 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 74/100 on livability (#34 in SD, #4,720 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, commute F.
• Rapid City Area School District 51-4 (urban): math 34% / reading 46% proficiency, ranked #50 of 59 in SD (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+7.3%/yr); 179 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,181 units permitted in Pennington County in 2024 (715 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $207 of loan paydown is wiped out by about $900 of value loss. Plan a longer hold.
• Pennington County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 7.3% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 9y ago; this cycle's ask is 55% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

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

Recommended offer $30,000

Questions for the listing agent

1. Built in 1973 — 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. 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?
4. 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.
5. 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.
6. 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: 4.69% ✓
• Cap rate: 42.46%
• Cash-on-cash: 129.16%
• DSCR: 6.75
• GRM: 1.8

CMA / ARV

• ARV (on-the-fly): $35,112
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2508 S Valley Dr	0.40mi	2/2.0	920 (-0%)	8mo	$35,000	$38	70

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 · 7.27% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.03×
• Total profit: $59,046
• Equity at exit: $4,473

10-year hold

• IRR: —
• Equity multiple: 19.32×
• Total profit: $153,902
• Equity at exit: $2,594

Cash invested: $8,400 (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 57703

• Home prices YoY: -34.5%
• Rents YoY: 7.3%
• Active inventory: 179
• Price-to-rent: 1.8×

Monthly cashflow live

• Estimated rent: $1,407 medium
• Mortgage (P&I): −$157
• Tax est. 1.5%: −$38 /mo · $450/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$295
• Net cashflow: $904

Break-even live

Break-even rent $262

Max offer price $30,000

Occupancy floor 31%

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: $7,500
• Closing costs: $900
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3276 Jim St Rapid City, SD	2.0	1.0–2.0	718	$1,500	$2.09	21d	50	0.36mi
4454 Bruins Way Rapid City, SD	1.0–2.0	1.0	741	$1,399	$1.89	21d	1	1.23mi
1050 N Valley Dr Unit 3 Rapid City, SD	1.0	1.0	744	$1,200	$1.61	21d	1	1.30mi
1330 E Minnesota St Unit 207 Rapid City, SD	1.0	1.0	660	$1,075	$1.63	21d	1	1.34mi

Listing history 38 events

1. 2026-06-19
   days on market $30,000 Active 2 DOM
2. 2026-06-17
   pricedays on marketlisting id $30,000 Active 1 DOM
3. 2026-06-16
   pricedays on market $16,300 Active 35 DOM
4. 2026-06-15
   days on market $19,300 Active 34 DOM
5. 2026-06-14
   days on market $19,300 Active 32 DOM
6. 2026-06-13
   days on market $19,300 Active 31 DOM
7. 2026-06-10
   days on market $19,300 Active 29 DOM
8. 2026-06-09
   days on market $19,300 Active 28 DOM
9. 2026-06-08
   days on market $19,300 Active 27 DOM
10. 2026-06-07
    days on market $19,300 Active 26 DOM
11. 2026-06-05
    days on market $19,300 Active 23 DOM
12. 2026-06-02
    days on market $19,300 Active 21 DOM
13. 2026-06-01
    days on market $19,300 Active 20 DOM
14. 2026-05-31
    days on market $19,300 Active 19 DOM
15. 2026-05-30
    days on market $19,300 Active 18 DOM
16. 2026-05-12
    listed $19,300 Active
17. 2025-05-01
    soldstatus $35,000 Closed 757-char remark

    Show marketing remark (757 chars)

    Listed by Lonnie Doney, KWBH, 605-407-1048. Convenient 1-level living in this move in ready mobile home on a rented lot! * Built in 1997, this 16'x60' mobile home offers 2 bedrooms, 1 bathroom and 960qft * Main living area with a comfortable living room with subtle vaulted ceilings and good natual light * Spacious corner kitchen with tons of cabinet and counter space, a cozy breakfast bar and eat in dining space * Main level laundry in the hall for easy access * 2 bedrooms in back of the home for privacy * 1 bathroom with walk in shower * Outside has a wooden front deck that overlooks the fenced yard * Storage shed on the property for plenty of outdoor storage * Gravel parking space out front for off street parking. Lot rent is $540/mo.

18. 2025-04-14
    historical Active Under Contract 757-char remark

    Show marketing remark (757 chars)

    Listed by Lonnie Doney, KWBH, 605-407-1048. Convenient 1-level living in this move in ready mobile home on a rented lot! * Built in 1997, this 16'x60' mobile home offers 2 bedrooms, 1 bathroom and 960qft * Main living area with a comfortable living room with subtle vaulted ceilings and good natual light * Spacious corner kitchen with tons of cabinet and counter space, a cozy breakfast bar and eat in dining space * Main level laundry in the hall for easy access * 2 bedrooms in back of the home for privacy * 1 bathroom with walk in shower * Outside has a wooden front deck that overlooks the fenced yard * Storage shed on the property for plenty of outdoor storage * Gravel parking space out front for off street parking. Lot rent is $540/mo.

19. 2025-04-08
    listed $35,000 Active 757-char remark

    Show marketing remark (757 chars)

    Listed by Lonnie Doney, KWBH, 605-407-1048. Convenient 1-level living in this move in ready mobile home on a rented lot! * Built in 1997, this 16'x60' mobile home offers 2 bedrooms, 1 bathroom and 960qft * Main living area with a comfortable living room with subtle vaulted ceilings and good natual light * Spacious corner kitchen with tons of cabinet and counter space, a cozy breakfast bar and eat in dining space * Main level laundry in the hall for easy access * 2 bedrooms in back of the home for privacy * 1 bathroom with walk in shower * Outside has a wooden front deck that overlooks the fenced yard * Storage shed on the property for plenty of outdoor storage * Gravel parking space out front for off street parking. Lot rent is $540/mo.

20. 2023-10-19
    soldstatus $65,000 Closed 536-char remark

    Show marketing remark (536 chars)

    INVESTOR OPPORTUNITY This great home was completely renovated inside and out in 2021 with new cabinets, new on demand water heater, new furnace, new air conditioning, all new insulation, new steel roof, and Diamond Coat hard board siding. Washer/Dryer hook ups, gas connection is available for stove. 1994 Friendship 3 bed, 2 bath located off South Valley Rd. Lot #8, Lot rent is $509/month. This property can be used as a rental, with park approval. All sales are contingent upon obtaining park approval to include a background check.

21. 2023-09-12
    historical Active Under Contract 536-char remark

    Show marketing remark (536 chars)

    INVESTOR OPPORTUNITY This great home was completely renovated inside and out in 2021 with new cabinets, new on demand water heater, new furnace, new air conditioning, all new insulation, new steel roof, and Diamond Coat hard board siding. Washer/Dryer hook ups, gas connection is available for stove. 1994 Friendship 3 bed, 2 bath located off South Valley Rd. Lot #8, Lot rent is $509/month. This property can be used as a rental, with park approval. All sales are contingent upon obtaining park approval to include a background check.

22. 2023-09-06
    price $69,000 536-char remark

    Show marketing remark (536 chars)

    INVESTOR OPPORTUNITY This great home was completely renovated inside and out in 2021 with new cabinets, new on demand water heater, new furnace, new air conditioning, all new insulation, new steel roof, and Diamond Coat hard board siding. Washer/Dryer hook ups, gas connection is available for stove. 1994 Friendship 3 bed, 2 bath located off South Valley Rd. Lot #8, Lot rent is $509/month. This property can be used as a rental, with park approval. All sales are contingent upon obtaining park approval to include a background check.

23. 2023-08-30
    status Active 536-char remark

    Show marketing remark (536 chars)

    INVESTOR OPPORTUNITY This great home was completely renovated inside and out in 2021 with new cabinets, new on demand water heater, new furnace, new air conditioning, all new insulation, new steel roof, and Diamond Coat hard board siding. Washer/Dryer hook ups, gas connection is available for stove. 1994 Friendship 3 bed, 2 bath located off South Valley Rd. Lot #8, Lot rent is $509/month. This property can be used as a rental, with park approval. All sales are contingent upon obtaining park approval to include a background check.

24. 2023-08-14
    historical 536-char remark

    Show marketing remark (536 chars)

    INVESTOR OPPORTUNITY This great home was completely renovated inside and out in 2021 with new cabinets, new on demand water heater, new furnace, new air conditioning, all new insulation, new steel roof, and Diamond Coat hard board siding. Washer/Dryer hook ups, gas connection is available for stove. 1994 Friendship 3 bed, 2 bath located off South Valley Rd. Lot #8, Lot rent is $509/month. This property can be used as a rental, with park approval. All sales are contingent upon obtaining park approval to include a background check.

25. 2023-08-14
    price $76,000 536-char remark

    Show marketing remark (536 chars)

    INVESTOR OPPORTUNITY This great home was completely renovated inside and out in 2021 with new cabinets, new on demand water heater, new furnace, new air conditioning, all new insulation, new steel roof, and Diamond Coat hard board siding. Washer/Dryer hook ups, gas connection is available for stove. 1994 Friendship 3 bed, 2 bath located off South Valley Rd. Lot #8, Lot rent is $509/month. This property can be used as a rental, with park approval. All sales are contingent upon obtaining park approval to include a background check.

26. 2023-08-13
    status Active 536-char remark

    Show marketing remark (536 chars)

    INVESTOR OPPORTUNITY This great home was completely renovated inside and out in 2021 with new cabinets, new on demand water heater, new furnace, new air conditioning, all new insulation, new steel roof, and Diamond Coat hard board siding. Washer/Dryer hook ups, gas connection is available for stove. 1994 Friendship 3 bed, 2 bath located off South Valley Rd. Lot #8, Lot rent is $509/month. This property can be used as a rental, with park approval. All sales are contingent upon obtaining park approval to include a background check.

27. 2023-08-09
    historical 536-char remark

    Show marketing remark (536 chars)

    INVESTOR OPPORTUNITY This great home was completely renovated inside and out in 2021 with new cabinets, new on demand water heater, new furnace, new air conditioning, all new insulation, new steel roof, and Diamond Coat hard board siding. Washer/Dryer hook ups, gas connection is available for stove. 1994 Friendship 3 bed, 2 bath located off South Valley Rd. Lot #8, Lot rent is $509/month. This property can be used as a rental, with park approval. All sales are contingent upon obtaining park approval to include a background check.

28. 2023-08-06
    price $85,000 536-char remark

    Show marketing remark (536 chars)

    INVESTOR OPPORTUNITY This great home was completely renovated inside and out in 2021 with new cabinets, new on demand water heater, new furnace, new air conditioning, all new insulation, new steel roof, and Diamond Coat hard board siding. Washer/Dryer hook ups, gas connection is available for stove. 1994 Friendship 3 bed, 2 bath located off South Valley Rd. Lot #8, Lot rent is $509/month. This property can be used as a rental, with park approval. All sales are contingent upon obtaining park approval to include a background check.

29. 2023-08-05
    status Active 536-char remark

    Show marketing remark (536 chars)

    INVESTOR OPPORTUNITY This great home was completely renovated inside and out in 2021 with new cabinets, new on demand water heater, new furnace, new air conditioning, all new insulation, new steel roof, and Diamond Coat hard board siding. Washer/Dryer hook ups, gas connection is available for stove. 1994 Friendship 3 bed, 2 bath located off South Valley Rd. Lot #8, Lot rent is $509/month. This property can be used as a rental, with park approval. All sales are contingent upon obtaining park approval to include a background check.

30. 2023-08-03
    historical 536-char remark

    Show marketing remark (536 chars)

    INVESTOR OPPORTUNITY This great home was completely renovated inside and out in 2021 with new cabinets, new on demand water heater, new furnace, new air conditioning, all new insulation, new steel roof, and Diamond Coat hard board siding. Washer/Dryer hook ups, gas connection is available for stove. 1994 Friendship 3 bed, 2 bath located off South Valley Rd. Lot #8, Lot rent is $509/month. This property can be used as a rental, with park approval. All sales are contingent upon obtaining park approval to include a background check.

31. 2023-07-31
    price $92,000 536-char remark

    Show marketing remark (536 chars)

    INVESTOR OPPORTUNITY This great home was completely renovated inside and out in 2021 with new cabinets, new on demand water heater, new furnace, new air conditioning, all new insulation, new steel roof, and Diamond Coat hard board siding. Washer/Dryer hook ups, gas connection is available for stove. 1994 Friendship 3 bed, 2 bath located off South Valley Rd. Lot #8, Lot rent is $509/month. This property can be used as a rental, with park approval. All sales are contingent upon obtaining park approval to include a background check.

32. 2023-07-28
    listed $105,000 Active 536-char remark

    Show marketing remark (536 chars)

    INVESTOR OPPORTUNITY This great home was completely renovated inside and out in 2021 with new cabinets, new on demand water heater, new furnace, new air conditioning, all new insulation, new steel roof, and Diamond Coat hard board siding. Washer/Dryer hook ups, gas connection is available for stove. 1994 Friendship 3 bed, 2 bath located off South Valley Rd. Lot #8, Lot rent is $509/month. This property can be used as a rental, with park approval. All sales are contingent upon obtaining park approval to include a background check.

33. 2018-05-31
    soldstatus $28,000
34. 2018-05-31
    soldstatus $25,000
35. 2018-05-22
    listed $28,000
36. 2018-02-22
    soldstatus $59,900
37. 2018-01-08
    listed $25,000
38. 2017-12-13
    listed $59,900

ⓘ 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 7/10 Severe
• 🌡 Heat 2/10 Low 7 d/yr ≥95°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,882
• − Mortgage interest: −$1,680
• − Property taxes: −$450
• − Insurance: −$150
• − Repairs & maintenance: −$1,351
• − Management: −$1,351
• − Depreciation: −$873
• Taxable income: $11,028
• Est. tax owed @ 24.0%: −$2,647
• After-tax cash flow: $8,202/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: Rapid City Area School District 51-4
• NCES district ID: 4659820
• Math proficiency: 34% ▼ -8.00%
• Reading proficiency: 46% ▼ -4.00%
• Median HH income: $50,145
• Composite: 34.47/100
• National rank: #5189
• State rank: #50 of 59 in SD

Livability — Rapid City

• Score: 74/100
• State rank: #34
• US rank: #4720

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rapid City, SD
• County: Pennington County · 99,403 people
• City population: 99,403
• Metro: Rapid City, SD
• Population (ZIP): 18,013
• Household income: $83,739
• Rent vs Own: 17.4% rent · 82.6% own
• Severe rent burden: 186.0

Population outlook (Pennington County) Hauer SSP2

• Today (2025): 125,504 people
• By 2030: 133,370 · +6.3%
• By 2040: 147,505 · +17.5%
• By 2050: 160,507 · +27.9%
• By 2075: 197,585 · +57.4%
• By 2100: 241,736 · +92.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Two or more races 10% Native American 7% Hispanic / Latino 6% Asian 1% Black 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Portuguese 8% Iranian 5% Romanian 3%
• Foreign-born: 2% · South Korea
• Languages at home: 96% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Pennington

• 2024 margin: Strong R (+26.4) · D 35.4% · R 61.9% · Other 2.7%
• 2008→2024 swing: -5.3pp toward R · 2008: -21.2pp · 2024: -26.4pp
• All cycles: 2024: R+26.4 2020: R+25.1 2016: R+33.0 2012: R+29.5 2008: R+21.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -119.50%
• Current HPI: 226.7266
• Rent YoY: ▲ 7.27%
• Metro: Rapid City, 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

-67.8% since first listed

23 events — show timeline

• 2026-05-12 Listed $19,300 FSBO.com
• 2025-05-01 Sold (MLS) $35,000 MRAOR
• 2025-04-14 Contingent — MRAOR
• 2025-04-08 Listed $35,000 MRAOR
• 2023-10-19 Sold (MLS) $65,000 BHMLS
• 2023-09-12 Contingent — BHMLS
• 2023-09-06 Price Changed $69,000 BHMLS
• 2023-08-30 Relisted — BHMLS
• 2023-08-14 Delisted — BHMLS
• 2023-08-14 Price Changed $76,000 BHMLS
• 2023-08-13 Relisted — BHMLS
• 2023-08-09 Delisted — BHMLS
• 2023-08-06 Price Changed $85,000 BHMLS
• 2023-08-05 Relisted — BHMLS
• 2023-08-03 Delisted — BHMLS
• 2023-07-31 Price Changed $92,000 BHMLS
• 2023-07-28 Listed $105,000 BHMLS
• 2018-05-31 Sold (MLS) $25,000 BHMLS
• 2018-05-31 Sold (MLS) $28,000 BHMLS
• 2018-05-22 Listed $28,000 BHMLS
• 2018-02-22 Sold (MLS) $59,900 BHMLS
• 2018-01-08 Listed $25,000 BHMLS
• 2017-12-13 Listed $59,900 BHMLS