410 S 3rd St · Milbank, SD 57252

$129,900

3 bd · 2.0 ba · 1,842 sqft · SingleFamily · 10 Days on market

Built 1934 6,969 sqft lot $71/sqft · 8% below area Est $141k · 8% under ↓ 23% 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 +16.6/30.0
• ARV discount +11.0/15.0
• DSCR +5.2/10.0
• Schools +4.6/10.0
• 1% rule +4.5/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• 6,969 sq ft lot
• Garage
• Built 1934

Property features AI

Finance

• Financial info: Annual property tax approximately $2,025

Exterior

• Parking: One-car garage
• Home design: Single-family residence; Two levels
• Exterior features: Lot is approximately 0.16 acres (50 x 142)

Interior

• Bathrooms: Two full bathrooms
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $80 ($954/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 $124k (4.8% below list).
• Recommended offer: $124k (4.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 77/100 on livability (#19 in SD, #3,182 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Milbank School District 25-4 (town): math 46% / reading 61% proficiency, ranked #19 of 59 in SD (top 32%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Milbank Elementary - 03 (math 52% / reading 57%, grade C, #87 of 253 statewide, top 38%, 437 students, 34% FRL); Milbank Middle School - 02 (math 47% / reading 59%, grade C+, #43 of 143 statewide, top 30%, 229 students, 26% FRL); Milbank High School - 01 (math 32% / reading 72%, grade D+, #65 of 151 statewide, top 43%, 359 students, 22% FRL) — zoned schools at 28% FRL track the district average.
• Market conditions: 37 active listings in the ZIP; 22 units permitted in Grant County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Grant County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $100k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1934 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $123,701 (4.8% below list)

Questions for the listing agent

1. Built in 1934 — 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. 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.
4. 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.
5. 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: 0.95% ✗
• Cap rate: 7.03%
• Cash-on-cash: 2.62%
• DSCR: 1.12
• GRM: 8.8

CMA / ARV

• ARV (median comp): $140,789
• List price: $129,900
• Delta: -7.73%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
410 S 3rd St	0.00mi	3/2.0	1,842 (0%)	1mo	$100,000	$54	100
603 S 5th St	0.23mi	3/2.0	1,904 (+3%)	1mo	$130,000	$68	83
521 S 4th St	0.16mi	2/1.0 (-1)	1,688 (-8%)	2mo	$103,500	$61	68
305 W 6th Ave	0.43mi	3/2.0	1,920 (+4%)	10mo	$90,500	$47	64
508 S 5th St	0.16mi	3/1.0	2,103 (+14%)	4mo	$145,000	$69	62
517 S 2nd St	0.15mi	2/1.0 (-1)	1,608 (-13%)	2mo	$143,500	$89	61
808 S 7th St	0.38mi	2/1.0 (-1)	1,700 (-8%)	0mo	$145,000	$85	60
912 S Main St	0.40mi	2/1.0 (-1)	1,976 (+7%)	1mo	$108,500	$55	59
218 W 5th Ave	0.36mi	4/1.0 (+1)	2,043 (+11%)	2mo	$157,000	$77	54
312 N 1st St	0.46mi	4/2.0 (+1)	1,984 (+8%)	10mo	$235,000	$118	52
811 Summit St	0.35mi	4/1.0 (+1)	1,585 (-14%)	1mo	$152,000	$96	50
1108 Vista Dr	0.56mi	2/1.0 (-1)	1,632 (-11%)	2mo	$150,000	$92	44

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: -12.1%
• Equity multiple: 0.56×
• Total profit: $-15,966
• Equity at exit: $19,369

10-year hold

• IRR: -3.0%
• Equity multiple: 0.80×
• Total profit: $-7,304
• Equity at exit: $11,231

Cash invested: $36,372 (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 57252

• Active inventory: 37
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,237 medium
• Mortgage (P&I): −$681
• Tax est. 1.5%: −$162 /mo · $1,948/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $80

Break-even live

Break-even rent $1,136

Max offer price $129,900

Occupancy floor 89%

Sensitivity live

Price	-10% $169	-5% $124	+0% $80	+5% $35	+10% $-10
Rent	-10% $-18	-5% $31	+0% $80	+5% $128	+10% $177
Rate	-1.0pp $145	-0.5pp $113	base $80	+0.5pp $46	+1.0pp $12

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-08
   status Pending 258-char remark
2. 2026-04-28
   listed $129,900 Active 258-char remark

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°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: $14,844
• − Mortgage interest: −$7,276
• − Property taxes: −$1,948
• − Insurance: −$650
• − Repairs & maintenance: −$1,188
• − Management: −$1,188
• − Depreciation: −$3,779
• Taxable loss: −$1,184
• Est. tax savings @ 24.0%: +$284
• After-tax cash flow: $1,239/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: Milbank School District 25-4
• NCES district ID: 4600002
• Math proficiency: 46% ▲ 3.00%
• Reading proficiency: 61% ▼ -1.00%
• Median HH income: $49,055
• Composite: 45.54/100
• National rank: #2604
• State rank: #19 of 59 in SD

Livability — Milbank

• Score: 77/100
• State rank: #19
• US rank: #3182

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Milbank, SD
• Population (ZIP): 4,882

Population outlook (Grant County) Hauer SSP2

• Today (2025): 6,713 people
• By 2030: 6,458 · -3.8%
• By 2040: 5,990 · -10.8%
• By 2050: 5,667 · -15.6%
• By 2075: 5,925 · -11.7%
• By 2100: 7,228 · +7.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Hispanic / Latino 9% Two or more races 3% Native American 3%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Portuguese 17% Iranian 6% English 1%
• Foreign-born: 8% · Canada
• Languages at home: 88% English-only · Spanish 8% German/W. Germanic 3% Korean 1%

Political lean MEDSL · Grant

• 2024 margin: Solid R (+45.4) · D 26.1% · R 71.5% · Other 2.5%
• 2008→2024 swing: -41.1pp toward R · 2008: -4.3pp · 2024: -45.4pp
• All cycles: 2024: R+45.4 2020: R+41.7 2016: R+39.6 2012: R+15.0 2008: R+4.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -106.85%
• Current HPI: 160.3639
• 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

-23.0% since first listed

3 events — show timeline

• 2026-06-05 Sold (MLS) $100,000 NESD
• 2026-05-08 Pending — NESD
• 2026-04-28 Listed $129,900 NESD