2098 3rd Ave · Bowdle, SD 57428

$54,950

4 bd · 2.0 ba · 1,630 sqft · SingleFamily · 156 Days on market

Built 1900 0.33 ac lot $34/sqft · 70% below area

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Schools +4.1/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This home's history shines through in its charm, stained glass windows, original woodwork and hardwood floors. Being sold as is, this two-story home has endless potential and is located in the heart of a small South Dakota town. With spacious bedrooms, walk-in closets and 1¾ baths, a large living room, and adjacent dining room, the renovation potential is limitless! Located on a large corner lot, with an additional attached lot, privacy fence, cement driveway, shed and two-stall garage. Some water damage occurred in the upstairs bathroom, and into the space below it on the main floor. A full inspection was performed 11/12/25 showing ''the leak came from the exterior. .. '', which has been fixed and also stated ''these area are dry and there is no evidence of any ongoing issues. ''

Key facts

• Large corner lot
• Privacy fence
• Cement driveway

Tags

• STAINED GLASS WINDOWS
• ORIGINAL WOODWORK
• HARDWOOD FLOORS
• LARGE CORNER LOT
• PRIVACY FENCE
• CEMENT DRIVEWAY

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $577 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#105 in SD) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime D, amenities F.
• Bowdle School District 22-1 (rural): math 40% / reading 50% proficiency, ranked #99 of 148 in SD (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Bowdle Elementary - 02 (math 54% / reading 54%, grade C, #87 of 253 statewide, top 38%, 46 students, 46% FRL); Bowdle Jr. High - 03 (math 24% / reading 24%, 23 students, 48% FRL); Bowdle High School - 01 (math 24% / reading 75%, grade D+, #69 of 151 statewide, top 65%, 43 students, 19% FRL).
• Market conditions: 2 active listings in the ZIP; 2 units permitted in Edmunds County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($380 loan paydown + $2k appreciation (3.0% local appreciation)).
• Edmunds County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 156 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $48,356 (12.0% below list)

Questions for the listing agent

1. It's been on market 156 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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. 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. 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.
7. 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.
8. 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: 2.20% ✓
• Cap rate: 18.89%
• Cash-on-cash: 45.01%
• DSCR: 3.00
• GRM: 3.8

CMA / ARV

• ARV (median comp): $182,848
• List price: $54,950
• Delta: -69.95%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2013 8th Ave	0.32mi	3/2.0 (-1)	1,600 (-2%)	24mo	$174,900	$109	57
2002 8th Ave	0.35mi	4/2.0	1,866 (+14%)	8mo	$70,000	$38	53

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: 50.3%
• Equity multiple: 3.82×
• Total profit: $43,390
• Equity at exit: $24,708

10-year hold

• IRR: 50.0%
• Equity multiple: 7.69×
• Total profit: $102,991
• Equity at exit: $38,078

Cash invested: $15,386 (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 57428

• Active inventory: 2
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,211 medium
• Mortgage (P&I): −$288
• Tax est. 1.5%: −$69 /mo · $824/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $577

Break-even live

Break-even rent $481

Max offer price $54,950

Occupancy floor 47%

Sensitivity live

Price	-10% $615	-5% $596	+0% $577	+5% $558	+10% $539
Rent	-10% $481	-5% $529	+0% $577	+5% $625	+10% $673
Rate	-1.0pp $605	-0.5pp $591	base $577	+0.5pp $563	+1.0pp $548

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: $13,738
• Closing costs: $1,648
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $54,950 Active 156 DOM
2. 2026-06-21
   days on market $54,950 Active 155 DOM
3. 2026-06-18
   days on market $54,950 Active 153 DOM
4. 2026-06-17
   days on market $54,950 Active 152 DOM
5. 2026-06-16
   days on market $54,950 Active 151 DOM
6. 2026-06-15
   days on market $54,950 Active 150 DOM
7. 2026-06-13
   days on market $54,950 Active 148 DOM
8. 2026-06-12
   days on market $54,950 Active 147 DOM
9. 2026-06-09
   days on market $54,950 Active 144 DOM
10. 2026-06-08
    days on market $54,950 Active 143 DOM
11. 2026-06-08
    days on market $54,950 Active 142 DOM
12. 2026-06-05
    days on market $54,950 Active 140 DOM
13. 2026-06-04
    days on market $54,950 Active 138 DOM
14. 2026-06-02
    days on market $54,950 Active 137 DOM
15. 2026-06-01
    days on market $54,950 Active 136 DOM
16. 2026-05-31
    days on market $54,950 Active 135 DOM
17. 2026-01-17
    listed $64,950 Active 799-char remark

    Show marketing remark (799 chars)

    This home's history shines through in its charm, stained glass windows, original woodwork and hardwood floors. Being sold as is, this two-story home has endless potential and is located in the heart of a small South Dakota town. With spacious bedrooms, walk-in closets and 1¾ baths, a large living room, and adjacent dining room, the renovation potential is limitless! Located on a large corner lot, with an additional attached lot, privacy fence, cement driveway, shed and two-stall garage. Some water damage occurred in the upstairs bathroom, and into the space below it on the main floor. A full inspection was performed 11/12/25 showing ''the leak came from the exterior. .. '', which has been fixed and also stated ''these area are dry and there is no evidence of any ongoing issues. ''

ⓘ 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 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,534
• − Mortgage interest: −$3,078
• − Property taxes: −$824
• − Insurance: −$275
• − Repairs & maintenance: −$1,163
• − Management: −$1,163
• − Depreciation: −$1,599
• Taxable income: $6,433
• Est. tax owed @ 24.0%: −$1,544
• After-tax cash flow: $5,381/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: Bowdle School District 22-1
• NCES district ID: 4607800
• Math proficiency: 40% ▲ 5.00%
• Reading proficiency: 50% ▼ -5.00%
• Median HH income: $49,780
• Composite: 40.82/100
• National rank: #7554
• State rank: #99 of 148 in SD

Livability — Bowdle

• Score: 67/100
• State rank: #105
• US rank: #11080

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bowdle, SD
• Population (ZIP): 569

Population outlook (Edmunds County) Hauer SSP2

• Today (2025): 3,976 people
• By 2030: 3,964 · -0.3%
• By 2040: 3,905 · -1.8%
• By 2050: 3,842 · -3.4%
• By 2075: 3,835 · -3.5%
• By 2100: 3,724 · -6.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 11% Black 5%
• Common ancestry: Portuguese 14% Scotch-Irish 9% Iranian 3%
• Languages at home: 97% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Edmunds

• 2024 margin: Solid R (+60.8) · D 18.9% · R 79.7% · Other 1.4%
• 2008→2024 swing: -41.8pp toward R · 2008: -19.0pp · 2024: -60.8pp
• All cycles: 2024: R+60.8 2020: R+56.5 2016: R+54.9 2012: R+33.2 2008: R+19.0

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

1 event — show timeline

• 2026-01-17 Listed $64,950 ABOR