1027 N Main Ave Ave · Sioux Falls, SD 57104

$125,000

2 bd · 2.0 ba · 1,152 sqft · SingleFamily public records · 3 Days on market

Built 1907 6,578 sqft lot Est $203k · 38% 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 +19.9/30.0
• ARV discount +15.0/15.0
• DSCR +6.3/10.0
• 1% rule +4.6/10.0
• Rent growth +4.2/5.0
• Livability +4.2/5.0
• Schools +3.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• Wood deck
• Unfinished basement
• Mature trees

Tags

• UNFINISHED BASEMENT
• DETACHED TWO-STALL GARAGE
• CHAIN-LINK FENCED BACKYARD
• WOOD DECK
• MATURE TREES
• ESTABLISHED LANDSCAPING

Property features AI

Finance

• Financial info: Annual property tax recorded

Exterior

• Parking: Detached 2-car garage (22 x 22) with asphalt parking
• Utilities: Public water; Public sewer; Publicly maintained asphalt roads with curb and gutter
• Home design: Single-family ranch-style home; Owned land
• Construction: Vinyl and wood siding; Poured foundation; Composition roof; Below-grade unfinished area
• Exterior features: Deck; Porch; Chain link fencing; City lot; Irregular lot dimensions

Interior

• Kitchen: Gas stove; Refrigerator; Range
• Bedrooms: Main-level master bedroom with double closet (approx. 9 x 11); Main-level second bedroom with two single closets (approx. 9 x 9); Main-level third bedroom with built-ins and ceiling fan (approx. 9 x 11)
• Flooring: Carpet; Laminate
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Main floor laundry; Three or more bedrooms on the same level; Partial basement
• Laundry & utility: Washer and dryer included; Natural gas water heater

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 $150 ($2k/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 $120k (4.4% below list).
• Recommended offer: $120k (4.4% below list) — sets the bar for 1% rule.
• Cap rate 7.7% 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: Hawthorne Elementary - 56 (math 17% / reading 17%, grade F, #239 of 253 statewide, top 94%, 334 students, 100% FRL); Patrick Henry Middle School - 07 (math 42% / reading 53%, grade C-, #69 of 143 statewide, top 48%, 940 students, 24% FRL) — zoned schools average 62% FRL vs 36% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+7.0%/yr); 153 active listings in the ZIP; 40 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

• 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.
• At projected returns (-3.0% appreciation + 7.0% rent growth), your $35k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1907 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $119,559 (4.4% below list)

Questions for the listing agent

1. Built in 1907 — 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: 0.96% ✗
• Cap rate: 7.74%
• Cash-on-cash: 5.15%
• DSCR: 1.23
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $202,752
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
912 N Spring Ave Ave	0.22mi	3/1.0 (+1)	1,120 (-3%)	1mo	$209,900	$187	75
1323 N Spring Ave Ave	0.33mi	3/1.0 (+1)	1,170 (+2%)	1mo	$259,900	$222	72
1125 N Minnesota Ave	0.17mi	3/1.0 (+1)	1,138 (-1%)	12mo	$185,000	$163	71
1230 N Dakota Ave	0.20mi	2/1.0	1,197 (+4%)	12mo	$209,900	$175	70
305 W Bailey St St	0.14mi	2/2.0	992 (-14%)	7mo	$145,000	$146	64
901 N Spring Ave	0.26mi	3/1.0 (+1)	1,195 (+4%)	12mo	$113,000	$95	63
530 W 1st St	0.30mi	3/1.0 (+1)	1,115 (-3%)	11mo	$203,000	$182	62
815 W 2nd St	0.51mi	3/2.0 (+1)	1,152 (0%)	11mo	$138,000	$120	62
1125 N Spring Ave Ave	0.24mi	2/1.0	1,280 (+11%)	6mo	$221,000	$173	61
912 N Minnesota Ave	0.16mi	3/1.0 (+1)	1,306 (+13%)	11mo	$230,000	$176	52
706 W 1st St	0.41mi	3/2.0 (+1)	1,279 (+11%)	12mo	$225,000	$176	48
427 W 7th St St	0.72mi	3/2.0 (+1)	1,096 (-5%)	9mo	$215,000	$196	46

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 · 6.99% rent growth · sell at horizon

5-year hold

• IRR: -4.2%
• Equity multiple: 0.84×
• Total profit: $-5,720
• Equity at exit: $18,638

10-year hold

• IRR: 9.4%
• Equity multiple: 1.84×
• Total profit: $29,483
• 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 57104

• Home prices YoY: -27.1%
• Rents YoY: 7.0%
• Active inventory: 153
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,196 high
• Mortgage (P&I): −$656
• Tax from tax record: −$87 /mo · $1,040/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$251
• Net cashflow: $150

Break-even live

Break-even rent $1,005

Max offer price $125,000

Occupancy floor 82%

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
928 N Spring Ave Sioux Falls, SD	3.0	1.0	902	$1,395	$1.55	21d	1	0.20mi
701 N Phillips Ave Sioux Falls, SD	2.0	1.0–2.5	894	$2,589	$2.90	13d	17	0.28mi
1304 N Duluth Ave Sioux Falls, SD	2.0	1.0	1248	$1,295	$1.04	13d	1	0.32mi
704 N Duluth Ave Sioux Falls, SD	2.0	1.0	900	$2,000	$2.22	44d	1	0.40mi
155 E 4th Pl Sioux Falls, SD	2.0	1.0–2.0	950	$3,240	$3.41	13d	12	0.50mi
812 W Bailey St Sioux Falls, SD	1.0–2.0	1.0	775	$700	$0.90	13d	1	0.50mi
350 N Reid Pl Sioux Falls, SD	2.0	1.0–2.0	898	$3,000	$3.34	13d	9	0.71mi
1000 N Covell Ave Sioux Falls, SD	2.0	1.0	750	$874	$1.17	21d	1	0.73mi
310 N Reid Pl Sioux Falls, SD	3.0	1.0–3.0	1251	$3,783	$3.02	13d	7	0.77mi
516 W 8th St Unit 05 Sioux Falls, SD	1.0	1.0	700	$710	$1.01	13d	1	0.80mi
602 W 9th St Sioux Falls, SD	2.0	1.0	900	$1,100	$1.22	13d	1	0.91mi
101 S Main Ave Sioux Falls, SD	1.0–2.0	1.0–2.0	1143	$2,450	$2.14	44d	2	0.91mi
514 N French Ave Sioux Falls, SD	2.0	1.0	850	$1,450	$1.71	13d	1	0.95mi
1009 W 7th St Sioux Falls, SD	2.0	1.5	1125	$1,600	$1.42	44d	1	0.96mi
950 N Cliff Ave Sioux Falls, SD	1.0–3.0	1.0–2.0	970	$799	$0.82	44d	1	1.03mi
230 S Phillips Ave Unit 405 Sioux Falls, SD	2.0	1.0	925	$1,625	$1.76	21d	1	1.05mi
1118 W 8th St Apt 4 Sioux Falls, SD	1.0	1.0	700	$700	$1.00	44d	1	1.07mi
1509 E Bennett St Unit 1509 Bennet Sioux Falls, SD	2.0	1.0	1150	$850	$0.74	21d	1	1.13mi
1509 E Bennett St #1 Sioux Falls, SD	2.0	1.0	1100	$900	$0.82	21d	1	1.13mi
1329 E 4th St Sioux Falls, SD	2.0	1.0	700	$1,050	$1.50	44d	1	1.13mi
815 W 11th St Unit A Sioux Falls, SD	1.0	1.0	750	$725	$0.97	44d	1	1.16mi
219 S Menlo Ave Sioux Falls, SD	1.0–2.0	1.0	847	$1,004	$1.19	13d	4	1.17mi
205 E 12th St Sioux Falls, SD	1.0–2.0	1.0–2.0	772	$2,430	$3.15	13d	28	1.18mi
718 W 12th St Unit 4 Sioux Falls, SD	2.0	1.0	1000	$875	$0.88	21d	1	1.19mi
325 E 12th St Sioux Falls, SD	1.0–2.0	1.0–2.0	954	$1,680	$1.76	13d	11	1.22mi
1227 E 8th St Sioux Falls, SD	2.0	1.0	700	$749	$1.07	44d	1	1.23mi
203 S Covell Ave Unit 3 Sioux Falls, SD	2.0	1.0	750	$850	$1.13	44d	1	1.25mi
915 W 12th St Sioux Falls, SD	3.0	2.0	1100	$1,395	$1.27	21d	1	1.26mi
320 N Western Ave Sioux Falls, SD	3.0	2.0	1100	$1,056	$0.96	44d	1	1.27mi
332 N Blauvelt Ave Sioux Falls, SD	3.0	2.0	1200	$995	$0.83	21d	1	1.34mi
633 S Main Ave Unit 2 Sioux Falls, SD	2.0	1.5	980	$950	$0.97	44d	1	1.36mi
1908 E Rice St Sioux Falls, SD	1.0	1.0	700	$649	$0.93	44d	1	1.37mi
1900 W 6th St Sioux Falls, SD	1.0	1.0	700	$754	$1.08	21d	1	1.38mi
1900 W 6th St Sioux Falls, SD	2.0	1.0	813	$853	$1.05	13d	1	1.38mi
809 E Presentation St Sioux Falls, SD	3.0	1.0	1350	$1,800	$1.33	44d	1	1.38mi
1605 W 10th St Sioux Falls, SD	2.0	1.0	1100	$1,295	$1.18	21d	1	1.40mi
647 S Main Ave Sioux Falls, SD	2.0	2.0	1224	$1,097	$0.90	13d	2	1.41mi
1301 W 13th St Sioux Falls, SD	1.0	1.0	755	$899	$1.19	21d	1	1.45mi
500 W 16th St Apt 6 Sioux Falls, SD	2.0	1.0	725	$825	$1.14	44d	1	1.46mi
124 S Blauvelt Ave Unit 117 Sioux Falls, SD	2.0	2.0	900	$1,095	$1.22	21d	1	1.46mi

Listing history 3 events

1. 2026-06-18
   days on market $125,000 Active 3 DOM
2. 2026-06-17
   days on market $125,000 Active 2 DOM
3. 2026-06-16
   listed $125,000 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: $1,040 · $87/mo
• Projected year-2 tax: $1,638 · $136/mo
• Expected delta: +$597/yr (+$50/mo · 57.4%)

ⓘ 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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°F today · 13 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: $14,347
• − Mortgage interest: −$7,002
• − Property taxes: −$1,040
• − Insurance: −$625
• − Repairs & maintenance: −$1,148
• − Management: −$1,148
• − Depreciation: −$3,636
• Taxable loss: −$252
• Est. tax savings @ 24.0%: +$60
• After-tax cash flow: $1,863/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): 26,963
• Household income: $57,688
• Rent vs Own: 54.8% rent · 45.2% own
• Severe rent burden: 1111.0

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 (67%)
• Race & ethnicity: White 67% Black 11% Two or more races 10% Hispanic / Latino 9% Native American 6% Asian 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 9% Iranian 3% Italian 1%
• Foreign-born: 13% · Canada
• Languages at home: 83% English-only · Spanish 6% Russian/Polish/Slavic 1% Arabic 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: ▼ -97.10%
• Current HPI: 261.8359
• Rent YoY: ▲ 6.99%
• 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

1 event — show timeline

• 2026-06-15 Listed $125,000 REALTOR® Association of the Sioux Empire

Property tax history

-2.2%/yr

Latest (2024): $1,040 · -3.2% YoY. Source: county tax records.