302 Main St · Volin, SD 57072

$129,000

5 bd · 3.0 ba · 1,836 sqft · MultiFamily · 189 Days on market

Built 1982 Poor condition 10,800 sqft lot $70/sqft · 23% above area Est $105k · 23% over

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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 +25.7/30.0
• Appreciation +8.9/10.0
• DSCR +8.6/10.0
• 1% rule +6.8/10.0
• Schools +3.2/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• ARV discount +0.0/15.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Up for Sale is a great investment opportunity in Volin, SD. The main apartment features 2 bedrooms/1 bath and the lower level features 1 bedroom/1 bathroom. Also included is a 2 bedroom/1 bath mobile home. Ample parking and yard space! This property is located in a quaint community just 16 miles from Yankton, SD and 20 miles from Vermillion, SD. Excellent Cash Flow!!

Key facts

• 0.25 acre lot
• Built 1982
• Listed 189 days

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath multifamily listed at $129k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $311 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $129k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#213 in SD) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, schools F, amenities F.
• Gayville-Volin School District 63-1 (rural): math 25% / reading 40% proficiency, ranked #125 of 148 in SD (top 84%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 3 active listings in the ZIP; 179 units permitted in Yankton County in 2024 (130 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($892 loan paydown + $10k appreciation (7.9% local appreciation)).
• Yankton County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (7.9% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 189 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $20k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $100k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $113,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 189 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.18% ✓
• Cap rate: 9.18%
• Cash-on-cash: 10.32%
• DSCR: 1.46
• GRM: 7.1

CMA / ARV

• ARV (median comp): $105,000
• List price: $129,000
• Delta: 22.86%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
302 Main St	0.00mi	5/3.0	1,836 (0%)	1mo	$105,000	$57	99

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

Projected returns pro-forma

7.9% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 27.8%
• Equity multiple: 3.00×
• Total profit: $72,097
• Equity at exit: $97,100

10-year hold

• IRR: 25.0%
• Equity multiple: 6.38×
• Total profit: $194,501
• Equity at exit: $191,885

Cash invested: $36,120 (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 57072

• Home prices YoY: 4.7%
• Active inventory: 3
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,522 medium
• Mortgage (P&I): −$676
• Tax est. 1.5%: −$161 /mo · $1,935/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$320
• Net cashflow: $311

Break-even live

Break-even rent $1,128

Max offer price $129,000

Occupancy floor 75%

Sensitivity live

Price	-10% $400	-5% $355	+0% $311	+5% $266	+10% $221
Rent	-10% $190	-5% $251	+0% $311	+5% $371	+10% $431
Rate	-1.0pp $376	-0.5pp $343	base $311	+0.5pp $277	+1.0pp $243

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-05-16
   status Pending 369-char remark

   Show marketing remark (369 chars)

   Up for Sale is a great investment opportunity in Volin, SD. The main apartment features 2 bedrooms/1 bath and the lower level features 1 bedroom/1 bathroom. Also included is a 2 bedroom/1 bath mobile home. Ample parking and yard space! This property is located in a quaint community just 16 miles from Yankton, SD and 20 miles from Vermillion, SD. Excellent Cash Flow!!

2. 2026-04-16
   price $129,000 369-char remark

   Show marketing remark (369 chars)

   Up for Sale is a great investment opportunity in Volin, SD. The main apartment features 2 bedrooms/1 bath and the lower level features 1 bedroom/1 bathroom. Also included is a 2 bedroom/1 bath mobile home. Ample parking and yard space! This property is located in a quaint community just 16 miles from Yankton, SD and 20 miles from Vermillion, SD. Excellent Cash Flow!!

3. 2026-03-02
   price $139,000 369-char remark

   Show marketing remark (369 chars)

   Up for Sale is a great investment opportunity in Volin, SD. The main apartment features 2 bedrooms/1 bath and the lower level features 1 bedroom/1 bathroom. Also included is a 2 bedroom/1 bath mobile home. Ample parking and yard space! This property is located in a quaint community just 16 miles from Yankton, SD and 20 miles from Vermillion, SD. Excellent Cash Flow!!

4. 2025-11-07
   listed $149,000 Active 369-char remark

   Show marketing remark (369 chars)

   Up for Sale is a great investment opportunity in Volin, SD. The main apartment features 2 bedrooms/1 bath and the lower level features 1 bedroom/1 bathroom. Also included is a 2 bedroom/1 bath mobile home. Ample parking and yard space! This property is located in a quaint community just 16 miles from Yankton, SD and 20 miles from Vermillion, SD. Excellent Cash Flow!!

5. 2022-06-29
   soldstatus $100,000 517-char remark

   Show marketing remark (517 chars)

   Up for sale is a great investment opportunity in Volin SD! Property features 2 units (100% occupancy for the past several years and currently). The main/upper apartment features 2 bedrooms/1 bath and the lower level unit features 1 bedroom/1 bath. Also included in this parcel is a 2 bedroom/1 bath mobile home that is also currently occupied. Ample parking and yard space! The property owner also owns 306 Main St. Volin which is a 3 unit home for sale as well and will need to be purchased along with this property.

6. 2022-04-26
   listed $100,000 517-char remark

   Show marketing remark (517 chars)

   Up for sale is a great investment opportunity in Volin SD! Property features 2 units (100% occupancy for the past several years and currently). The main/upper apartment features 2 bedrooms/1 bath and the lower level unit features 1 bedroom/1 bath. Also included in this parcel is a 2 bedroom/1 bath mobile home that is also currently occupied. Ample parking and yard space! The property owner also owns 306 Main St. Volin which is a 3 unit home for sale as well and will need to be purchased along with this property.

ⓘ 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 5/10 Major
• 🌡 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: $18,260
• − Mortgage interest: −$7,226
• − Property taxes: −$1,935
• − Insurance: −$645
• − Repairs & maintenance: −$1,461
• − Management: −$1,461
• − Depreciation: −$3,753
• Taxable income: $1,780
• Est. tax owed @ 24.0%: −$427
• After-tax cash flow: $3,300/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 · 1 photo

Poor 20/100 Extensive rehab

This multi-family property requires extensive repairs and updates, including a new roof and siding, to become move-in ready and increase its value.

Repairs flagged

• Major roof — Missing shingles
• Major exterior siding — Weathered and damaged
• Major HVAC/mechanicals — No visible units

Value-add opportunities

• Both New roof — Critical to safety and appearance
• Both New exterior siding — Improves curb appeal and durability
• Both HVAC upgrade — Enhances comfort and energy efficiency
• Both Landscaping and curb appeal — Enhances property value and appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Missing shingles	Major	$15,000–50,000
exterior siding · Weathered and damaged	Major	$15,000–50,000
HVAC/mechanicals · No visible units	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both New roof — Critical to safety and appearance ↑
• Both New exterior siding — Improves curb appeal and durability ↑
• Both HVAC upgrade — Enhances comfort and energy efficiency ↑
• Both Landscaping and curb appeal — Enhances property value and appeal ↑

ⓘ 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: Gayville-Volin School District 63-1
• NCES district ID: 4626490
• Math proficiency: 25% ▲ 5.00%
• Reading proficiency: 40% ▲ 10.00%
• Median HH income: $56,744
• Composite: 31.62/100
• National rank: #11134
• State rank: #125 of 148 in SD

Livability — Volin

• Score: 62/100
• State rank: #213
• US rank: #16469

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: Volin, SD
• Population (ZIP): 547

Population outlook (Yankton County) Hauer SSP2

• Today (2025): 23,495 people
• By 2030: 23,705 · +0.9%
• By 2040: 24,037 · +2.3%
• By 2050: 24,561 · +4.5%
• By 2075: 28,069 · +19.5%
• By 2100: 33,542 · +42.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Portuguese 29% Iranian 11% Lithuanian 1%

Political lean MEDSL · Yankton

• 2024 margin: Strong R (+25.5) · D 35.9% · R 61.4% · Other 2.8%
• 2008→2024 swing: -23.6pp toward R · 2008: -2.0pp · 2024: -25.5pp
• All cycles: 2024: R+25.5 2020: R+23.5 2016: R+24.5 2012: R+12.7 2008: R+2.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.90%
• Current HPI: 176.2972
• 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

+29.0% since first listed

6 events — show timeline

• 2026-05-16 Pending — MARMLS
• 2026-04-16 Price Changed $129,000 MARMLS
• 2026-03-02 Price Changed $139,000 MARMLS
• 2025-11-07 Listed $149,000 MARMLS
• 2022-06-29 Sold (MLS) $100,000 MARMLS
• 2022-04-26 Listed $100,000 MARMLS