515 W 13th Ave · Mitchell, SD 57301

$99,900

2 bd · 1.0 ba · 638 sqft · Other · 2 Days on market

Built 1915 Fair condition $157/sqft · 16% below area Est $118k · 16% 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 +15.9/30.0
• ARV discount +14.5/15.0
• DSCR +4.9/10.0
• Schools +4.9/10.0
• Livability +3.9/5.0
• 1% rule +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Key facts

• Spacious yard
• Large lot
• Garage

Tags

• PULL-THROUGH DRIVEWAY
• LARGE LOT
• SPACIOUS YARD

Property features AI

Finance

• Financial info: Annual tax: $604.74

Exterior

• Parking: Detached parking
• Utilities: Public water; Public sewer
• Home design: Single-family residential; Residential property
• Exterior features: .163 acre lot

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Heating present
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $100k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $48 ($578/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 $81k (18.9% below list).
• Recommended offer: $81k (18.9% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 2.5% in Mitchell — 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 77/100 on livability (#18 in SD, #2,969 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, employment C-, amenities D+.
• Mitchell School District 17-2 (town): math 55% / reading 62% proficiency, ranked #11 of 59 in SD (top 19%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 135 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 48 units permitted in Davison County in 2024 (0 in 5+ unit buildings).
• This rent is only 15% of the median local income ($66k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 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 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $81,031 (18.9% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.81% ✗
• Cap rate: 6.87%
• Cash-on-cash: 2.07%
• DSCR: 1.09
• GRM: 10.3

CMA / ARV

• ARV (median comp): $118,386
• List price: $99,900
• Delta: -15.61%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -13.1%
• Equity multiple: 0.53×
• Total profit: $-13,168
• Equity at exit: $14,895

10-year hold

• IRR: -4.2%
• Equity multiple: 0.72×
• Total profit: $-7,712
• Equity at exit: $8,638

Cash invested: $27,972 (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 57301

• Active inventory: 135
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $810 high
• Mortgage (P&I): −$524
• Tax from tax record: −$26 /mo · $318/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$170
• Net cashflow: $48

Break-even live

Break-even rent $749

Max offer price $99,900

Occupancy floor 89%

Sensitivity live

Price	-10% $105	-5% $76	+0% $48	+5% $20	+10% $-8
Rent	-10% $-16	-5% $16	+0% $48	+5% $80	+10% $112
Rate	-1.0pp $98	-0.5pp $74	base $48	+0.5pp $22	+1.0pp $-4

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1701 N Main St Apt 9A Mitchell, SD	2.0	1.0	711	$895	$1.26	44d	1	0.30mi
122 W 9th Ave Mitchell, SD	1.0	1.0	550	$650	$1.18	44d	1	0.39mi
123 W 6th Ave Unit 305 Mitchell, SD	1.0	1.0	600	$750	$1.25	44d	1	0.59mi
915 W 4th Ave Unit 2 Mitchell, SD	2.0	1.0	700	$750	$1.07	44d	1	0.74mi
501 W 3rd Ave Unit 5 Mitchell, SD	3.0	1.0	750	$900	$1.20	44d	1	0.75mi
223 N Main St Unit 208 Mitchell, SD	1.0	1.0	550	$850	$1.55	44d	1	0.80mi
312 N Lawler St Unit 8 Mitchell, SD	1.0	1.0	480	$870	$1.81	44d	1	0.80mi
828 W 2nd Ave Mitchell, SD	2.0	2.0	648	$850	$1.31	44d	1	0.82mi
1327 W 23rd Ave Mitchell, SD	1.0	1.0	619	$995	$1.61	44d	1	0.89mi
135 E 2nd Ave Unit 5 Mitchell, SD	1.0	1.0	500	$600	$1.20	44d	1	0.89mi
135 E 2nd Ave Unit 3 Mitchell, SD	1.0	1.0	350	$500	$1.43	44d	1	0.89mi
101 S Main St Unit 201 Mitchell, SD	2.0	1.0	675	$800	$1.19	44d	1	0.93mi
101 S Main St Apt 203 Mitchell, SD	1.0	1.0	525	$700	$1.33	44d	1	0.93mi
408 S Duff St Apt A Mitchell, SD	2.0	1.0	750	$775	$1.03	44d	1	1.11mi
608 S Wisconsin St Mitchell, SD	1.0	1.0	500	$700	$1.40	45d	1	1.24mi

Listing history 2 events

1. 2026-05-16
   status Pending 368-char remark
2. 2026-05-14
   listed $99,900 Active 368-char remark

ⓘ 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: $318 · $26/mo
• Projected year-2 tax: $1,309 · $109/mo
• Expected delta: +$991/yr (+$83/mo · 312.1%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°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: $9,724
• − Mortgage interest: −$5,596
• − Property taxes: −$318
• − Insurance: −$500
• − Repairs & maintenance: −$778
• − Management: −$778
• − Depreciation: −$2,906
• Taxable loss: −$1,151
• Est. tax savings @ 24.0%: +$276
• After-tax cash flow: $854/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This home requires moderate renovations to improve its curb appeal and interior condition, with a focus on exterior siding, landscaping, and kitchen and bathroom updates.

Repairs flagged

• Major Exterior siding — Significant wear and tear.
• Major Landscaping — Overgrown lawn and lack of landscaping.
• Moderate Kitchen cabinets and countertops — Dated and worn appearance.
• Moderate Bathroom fixtures — Standard fixtures, but dated and worn.

Value-add opportunities

• Resale Paint interior walls — Fresh paint can significantly improve the home's appearance.
• Resale Replace worn carpet — New carpet can enhance the home's appeal and comfort.
• Both Landscaping and curb appeal — A well-maintained exterior can attract more buyers and renters.
• Resale Update kitchen cabinets and countertops — Modernizing the kitchen can increase the home's value and appeal to potential buyers.
• Resale Update bathroom fixtures — Modern fixtures can improve the home's appeal and functionality.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Significant wear and tear.	Major	$15,000–50,000
Landscaping · Overgrown lawn and lack of landscaping.	Major	$15,000–50,000
Kitchen cabinets and countertops · Dated and worn appearance.	Moderate	$3,000–15,000
Bathroom fixtures · Standard fixtures, but dated and worn.	Moderate	$3,000–15,000
Total estimated repair cost · 4 items		$36,000–130,000

Value-add ROI direction

• Resale Paint interior walls — Fresh paint can significantly improve the home's appearance. ↑
• Resale Replace worn carpet — New carpet can enhance the home's appeal and comfort. ↑
• Both Landscaping and curb appeal — A well-maintained exterior can attract more buyers and renters. ↑
• Resale Update kitchen cabinets and countertops — Modernizing the kitchen can increase the home's value and appeal to potential buyers. ↑
• Resale Update bathroom fixtures — Modern fixtures can improve the home's appeal and functionality. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Mitchell School District 17-2
• NCES district ID: 4648390
• Math proficiency: 55% ▬ 0.00%
• Reading proficiency: 62% ▲ 5.00%
• Median HH income: $45,912
• Composite: 49.42/100
• National rank: #2008
• State rank: #11 of 59 in SD

Livability — Mitchell

• Score: 77/100
• State rank: #18
• US rank: #2969

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mitchell, SD
• County: Davison County · 19,104 people
• City population: 19,104
• Metro: Mitchell, SD
• Population (ZIP): 19,104
• Household income: $65,620
• Rent vs Own: 38.4% rent · 61.6% own
• Severe rent burden: 537.0

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 (89%)
• Race & ethnicity: White 89% Hispanic / Latino 5% Native American 4% Two or more races 3%
• Common ancestry: Portuguese 10% Iranian 7% Lithuanian 3%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2%

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: ▼ -136.01%
• Current HPI: 179.7909
• Rent YoY: —
• Metro: Mitchell, 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

2 events — show timeline

• 2026-05-16 Pending — MBOR
• 2026-05-14 Listed $99,900 MBOR

Property tax history

+11.8%/yr

Latest (2025): $318 · +15.6% YoY. Source: county tax records.