112 W 2nd St · Mount Vernon, SD 57363

$115,000

3 bd · 1.0 ba · 1,084 sqft · SingleFamily public records · 7 Days on market

Built 1910 0.32 ac lot Est $99k · 17% over

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Why this score? — see what drove the D+ 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 +18.6/30.0
• DSCR +5.8/10.0
• 1% rule +4.9/10.0
• Schools +4.5/10.0
• Appreciation +3.9/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Key facts

• Two lots
• New ac unit
• Concrete patio

Tags

• CONCRETE PATIO
• FIRE PIT
• TWO LOTS
• NEW WINDOWS
• NEW ROOF
• NEW AC UNIT

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Exterior features: Patio

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Central air; Ceiling fan(s); Natural gas heating
• Interior features: Partial basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $-75 ($-904/yr) — negative.
• To cash-flow at today's rent, offer at most $102k (11.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $113k (1.3% below list).
• Recommended offer: $102k (11.6% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 65/100 on livability (#153 in SD) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, crime D+, amenities F.
• Mount Vernon School District 17-3 (rural): math 50% / reading 50% proficiency, ranked #64 of 148 in SD (top 43%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 5 active listings in the ZIP; 48 units permitted in Davison County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-2.3%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Davison County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $25k; list at $115k implies a 360% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $186/mo; built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AO (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $101,689 (11.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is D 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.99% ✗
• Cap rate: 7.45%
• Cash-on-cash: 4.12%
• DSCR: 1.18
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $98,644
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
305 N Main St	0.10mi	2/1.0 (-1)	1,072 (-1%)	7mo	$88,800	$83	82
304 E 3rd Ave	0.23mi	3/2.0	1,132 (+4%)	4mo	$110,000	$97	75
308 E 1st St	0.26mi	2/1.0 (-1)	1,100 (+2%)	12mo	$50,000	$45	71
109 N Cotton St	0.04mi	2/1.0 (-1)	936 (-14%)	7mo	$85,000	$91	65
103 N Wallace St	0.11mi	3/1.0	960 (-11%)	23mo	$157,000	$164	57

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-2.29% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -16.3%
• Equity multiple: 0.38×
• Total profit: $-19,878
• Equity at exit: $20,796

10-year hold

• IRR: -8.6%
• Equity multiple: 0.38×
• Total profit: $-19,964
• Equity at exit: $16,326

Cash invested: $32,200 (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 57363

• Home prices YoY: -1.2%
• Active inventory: 5
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,135 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$135 /mo · $1,619/yr
• Insurance: −$48
• Flood insurance flood zone: −$186 /mo · $2,232/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$238
• Net cashflow: $-75

Break-even live

Break-even rent $1,230

Max offer price $101,689

Occupancy floor —

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-02
   statusdays on market $115,000 Pending 7 DOM
2. 2026-06-01
   days on market $115,000 Active 6 DOM
3. 2026-05-31
   days on market $115,000 Active 5 DOM
4. 2026-05-31
   days on market $115,000 Active 4 DOM
5. 2026-05-27
   listed $115,000 Active
6. 2002-05-10
   soldstatus $25,000

ⓘ 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: $1,619 · $135/mo
• Projected year-2 tax: $1,619 · $135/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 AO · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°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: $13,618
• − Mortgage interest: −$6,442
• − Property taxes: −$1,619
• − Insurance: −$2,806
• − Repairs & maintenance: −$1,089
• − Management: −$1,089
• − Depreciation: −$3,345
• Taxable loss: −$2,774
• Est. tax savings @ 24.0%: +$666
• After-tax cash flow: $-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: Mount Vernon School District 17-3
• NCES district ID: 4649650
• Math proficiency: 50% ▼ -5.00%
• Reading proficiency: 50% ▼ -5.00%
• Median HH income: $53,861
• Composite: 45.17/100
• National rank: #5793
• State rank: #64 of 148 in SD

Livability — Mount Vernon

• Score: 65/100
• State rank: #153
• US rank: #13326

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mount Vernon, SD
• Population (ZIP): 867

Population outlook (Davison County) Hauer SSP2

• Today (2025): 20,529 people
• By 2030: 20,856 · +1.6%
• By 2040: 21,415 · +4.3%
• By 2050: 21,925 · +6.8%
• By 2075: 24,245 · +18.1%
• By 2100: 29,222 · +42.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Native American 3% Two or more races 2%
• Common ancestry: Portuguese 13% Iranian 5% Italian 3%

Political lean MEDSL · Davison

• 2024 margin: Solid R (+37.8) · D 29.9% · R 67.7% · Other 2.5%
• 2008→2024 swing: -23.8pp toward R · 2008: -13.9pp · 2024: -37.8pp
• All cycles: 2024: R+37.8 2020: R+35.1 2016: R+35.2 2012: R+21.5 2008: R+13.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -2.29%
• Current HPI: 194.7543
• 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

+360.0% since first listed

2 events — show timeline

• 2026-05-27 Listed $115,000 MBOR
• 2002-05-10 Sold (Public Records) $25,000 Public Records

Property tax history

+6.4%/yr

Latest (2025): $1,619 · +4.3% YoY. Source: county tax records.