412 W Main St · Northville, SD 57465

$89,000

3 bd · 1.0 ba · 1,034 sqft · SingleFamily public records · 72 Days on market

Built 1909 0.38 ac lot $86/sqft · 37% above area Est $87k · at est. ↓ 29% since listing

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Why this score? — see what drove the B- 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 +26.0/30.0
• DSCR +8.7/10.0
• ARV discount +6.5/15.0
• 1% rule +5.8/10.0
• Appreciation +5.0/10.0
• Schools +4.5/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Write your story of home ownership in Northville! The main floor features Bedroom, Bathroom and Laundry in addition to Living/Dining and Kitchen. Bedroom and Bonus room upstairs as well as unfinished storage. The exterior is vinyl siding with a metal roof and there is a detached garage and other storage as well as a large yard for your enjoyment! As a bonus, there is a camper hookup and space to park!

Key facts

• Camper hookup
• Metal roof
• Large yard

Tags

• VINYL SIDING
• METAL ROOF
• DETACHED GARAGE
• LARGE YARD
• CAMPER HOOKUP
• SPACE TO PARK

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $221 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($965 rent vs $89k).
• Recommended offer: $84k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 72/100 on livability (#46 in SD) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: crime C-, health & safety C-, amenities F.
• Northwestern Area School District 56-7 (rural): math 50% / reading 50% proficiency, ranked #66 of 148 in SD (top 45%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 2 active listings in the ZIP; 34 units permitted in Spink County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($615 loan paydown + $3k appreciation (3.0% local appreciation)).
• Spink County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($84k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1909 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $83,660 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1909 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 1.08% ✓
• Cap rate: 9.27%
• Cash-on-cash: 10.63%
• DSCR: 1.47
• GRM: 7.7

CMA / ARV

• ARV (median comp): $87,122
• List price: $89,000
• Delta: 2.16%
• Verdict: FAIR
• Comps: 2 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
303 W Oak St	0.18mi	4/2.0 (+1)	1,092 (+6%)	9mo	$238,000	$218	65
109 Front St	0.37mi	3/2.0	1,148 (+11%)	6mo	$130,000	$113	55

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: 17.4%
• Equity multiple: 1.99×
• Total profit: $24,751
• Equity at exit: $40,018

10-year hold

• IRR: 18.9%
• Equity multiple: 3.74×
• Total profit: $68,379
• Equity at exit: $61,673

Cash invested: $24,920 (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 57465

• Active inventory: 2
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $965 medium
• Mortgage (P&I): −$467
• Tax from tax record: −$38 /mo · $458/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$203
• Net cashflow: $221

Break-even live

Break-even rent $686

Max offer price $89,000

Occupancy floor 72%

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-11
   price $89,000 404-char remark

   Show marketing remark (404 chars)

   Write your story of home ownership in Northville! The main floor features Bedroom, Bathroom and Laundry in addition to Living/Dining and Kitchen. Bedroom and Bonus room upstairs as well as unfinished storage. The exterior is vinyl siding with a metal roof and there is a detached garage and other storage as well as a large yard for your enjoyment! As a bonus, there is a camper hookup and space to park!

2. 2026-03-18
   listed $110,000 Active 404-char remark

   Show marketing remark (404 chars)

   Write your story of home ownership in Northville! The main floor features Bedroom, Bathroom and Laundry in addition to Living/Dining and Kitchen. Bedroom and Bonus room upstairs as well as unfinished storage. The exterior is vinyl siding with a metal roof and there is a detached garage and other storage as well as a large yard for your enjoyment! As a bonus, there is a camper hookup and space to park!

3. 2025-12-09
   price $125,000

ⓘ 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: $458 · $38/mo
• Projected year-2 tax: $1,166 · $97/mo
• Expected delta: +$708/yr (+$59/mo · 154.8%)

ⓘ 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 2/10 Low 7 d/yr ≥101°F today · 12 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,585
• − Mortgage interest: −$4,985
• − Property taxes: −$458
• − Insurance: −$445
• − Repairs & maintenance: −$927
• − Management: −$927
• − Depreciation: −$2,589
• Taxable income: $1,255
• Est. tax owed @ 24.0%: −$301
• After-tax cash flow: $2,348/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: Northwestern Area School District 56-7
• NCES district ID: 4651750
• Math proficiency: 50% ▲ 5.00%
• Reading proficiency: 50% ▼ -15.00%
• Median HH income: $51,590
• Composite: 44.96/100
• National rank: #5873
• State rank: #66 of 148 in SD

Livability — Northville

• Score: 72/100
• State rank: #46
• US rank: #6423

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Northville, SD
• Population (ZIP): 421

Population outlook (Spink County) Hauer SSP2

• Today (2025): 6,598 people
• By 2030: 6,673 · +1.1%
• By 2040: 6,835 · +3.6%
• By 2050: 6,961 · +5.5%
• By 2075: 7,667 · +16.2%
• By 2100: 8,425 · +27.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 2%
• Common ancestry: Portuguese 12% Iranian 2%

Political lean MEDSL · Spink

• 2024 margin: Solid R (+39.0) · D 29.3% · R 68.3% · Other 2.3%
• 2008→2024 swing: -35.6pp toward R · 2008: -3.4pp · 2024: -39.0pp
• All cycles: 2024: R+39.0 2020: R+35.0 2016: R+31.7 2012: R+12.2 2008: R+3.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

-28.8% since first listed

3 events — show timeline

• 2026-05-11 Price Changed $89,000 ABOR
• 2026-03-18 Listed $110,000 ABOR
• 2025-12-09 Price Changed $125,000 ABOR

Property tax history

+2.2%/yr

Latest (2025): $458 · +10.2% YoY. Source: county tax records.