12774 US Highway 18 · Hot Springs, SD 57747

$59,000

1 bd · 1.0 ba · 600 sqft · Manufactured · 89 Days on market

Built 1967 Good condition

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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 +29.1/30.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to your slice of the Southern Black Hills. This 1 bedroom, 1 bathroom single wide mobile home is located in the Grandview Court Mobile Home Park on a rented lot. No real property is included in the sale. The home offers a simple, functional layout and is move in ready with furnishings included. Conveniently situated just off Highway 18, this location provides easy access for commuting and is directly across from the Southern Hills Golf Course. Lot rent is $300 per month. Buyers must be approved by park management. Seller may consider owner financing with a substantial down payment. An affordable opportunity to enjoy Black Hills living in a convenient location. Can be sold completely furnished with a price increase.

Key facts

• Easy access
• Move in ready
• Black hills living

Tags

• MOVE IN READY
• EASY ACCESS
• SOUTHERN HILLS GOLF COURSE
• BLACK HILLS LIVING

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $59k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $203 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($774 rent vs $59k).
• Recommended offer: $55k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.4% vs local median 1.5% in Hot Springs — 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 79/100 on livability (#9 in SD, #2,212 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Hot Springs School District 23-2 (town): math 36% / reading 51% proficiency, ranked #47 of 59 in SD (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 239 active listings in the ZIP; 9 units permitted in Fall River County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $408 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 89 days — a 6% lower offer ($55k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 2y ago; this cycle's ask has dropped $16k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $55,460 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 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 1967 — 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: 1.31% ✓
• Cap rate: 10.43%
• Cash-on-cash: 14.78%
• DSCR: 1.66
• GRM: 6.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 5.3%
• Equity multiple: 1.21×
• Total profit: $3,411
• Equity at exit: $8,797

10-year hold

• IRR: 14.8%
• Equity multiple: 2.19×
• Total profit: $19,705
• Equity at exit: $5,101

Cash invested: $16,520 (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 57747

• Active inventory: 239
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $774 medium
• Mortgage (P&I): −$309
• Tax est. 1.5%: −$74 /mo · $885/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$162
• Net cashflow: $203

Break-even live

Break-even rent $516

Max offer price $59,000

Occupancy floor 69%

Sensitivity live

Price	-10% $244	-5% $224	+0% $203	+5% $183	+10% $163
Rent	-10% $142	-5% $173	+0% $203	+5% $234	+10% $265
Rate	-1.0pp $233	-0.5pp $218	base $203	+0.5pp $188	+1.0pp $173

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-21
   days on market $59,000 Active 89 DOM
2. 2026-06-18
   days on market $59,000 Active 87 DOM
3. 2026-06-17
   price $59,000 Active 86 DOM
4. 2026-06-17
   days on market $69,000 Active 86 DOM
5. 2026-06-16
   days on market $69,000 Active 85 DOM
6. 2026-06-15
   days on market $69,000 Active 84 DOM
7. 2026-06-13
   days on market $69,000 Active 82 DOM
8. 2026-06-12
   days on market $69,000 Active 81 DOM
9. 2026-06-09
   days on market $69,000 Active 78 DOM
10. 2026-06-08
    days on market $69,000 Active 77 DOM
11. 2026-06-08
    days on market $69,000 Active 76 DOM
12. 2026-06-05
    days on market $69,000 Active 74 DOM
13. 2026-06-04
    days on market $69,000 Active 72 DOM
14. 2026-06-02
    days on market $69,000 Active 71 DOM
15. 2026-06-01
    days on market $69,000 Active 70 DOM
16. 2026-05-31
    days on market $69,000 Active 69 DOM
17. 2026-04-02
    price $69,000 732-char remark

    Show marketing remark (732 chars)

    Welcome to your slice of the Southern Black Hills. This 1 bedroom, 1 bathroom single wide mobile home is located in the Grandview Court Mobile Home Park on a rented lot. No real property is included in the sale. The home offers a simple, functional layout and is move in ready with furnishings included. Conveniently situated just off Highway 18, this location provides easy access for commuting and is directly across from the Southern Hills Golf Course. Lot rent is $300 per month. Buyers must be approved by park management. Seller may consider owner financing with a substantial down payment. An affordable opportunity to enjoy Black Hills living in a convenient location. Can be sold completely furnished with a price increase.

18. 2026-03-23
    listed $75,000 Active 732-char remark

    Show marketing remark (732 chars)

    Welcome to your slice of the Southern Black Hills. This 1 bedroom, 1 bathroom single wide mobile home is located in the Grandview Court Mobile Home Park on a rented lot. No real property is included in the sale. The home offers a simple, functional layout and is move in ready with furnishings included. Conveniently situated just off Highway 18, this location provides easy access for commuting and is directly across from the Southern Hills Golf Course. Lot rent is $300 per month. Buyers must be approved by park management. Seller may consider owner financing with a substantial down payment. An affordable opportunity to enjoy Black Hills living in a convenient location. Can be sold completely furnished with a price increase.

19. 2025-08-01
    status Active
20. 2025-05-07
    price $83,400
21. 2025-05-07
    price $83,400
22. 2025-02-03
    listed $84,900 Active
23. 2025-02-03
    listed $84,900 Active
24. 2024-05-31
    soldstatus $525,000 Closed
25. 2024-04-17
    historical Active Under Contract
26. 2024-04-16
    status Active
27. 2024-03-30
    historical Active Under Contract
28. 2024-03-25
    listed $525,000 Active

ⓘ 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 8/10 Severe
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,284
• − Mortgage interest: −$3,305
• − Property taxes: −$885
• − Insurance: −$295
• − Repairs & maintenance: −$743
• − Management: −$743
• − Depreciation: −$1,716
• Taxable income: $1,598
• Est. tax owed @ 24.0%: −$383
• After-tax cash flow: $2,058/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

Good 75/100 Cosmetic rehab

This single-wide mobile home is in good condition with a good layout and move-in ready. It offers a simple, functional living space and is located in a convenient location.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and protects the home.
• Both Clean gutters — Improves drainage and prevents water damage

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and protects the home. ↑
• Both Clean gutters — Improves drainage and prevents water damage ↑

ⓘ 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: Hot Springs School District 23-2
• NCES district ID: 4634480
• Math proficiency: 36% ▼ -8.00%
• Reading proficiency: 51% ▼ -3.00%
• Median HH income: $43,890
• Composite: 36.76/100
• National rank: #4578
• State rank: #47 of 59 in SD

Livability — Hot Springs

• Score: 79/100
• State rank: #9
• US rank: #2212

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,889

Population outlook (Fall River County) Hauer SSP2

• Today (2025): 6,696 people
• By 2030: 6,590 · -1.6%
• By 2040: 6,431 · -4.0%
• By 2050: 6,643 · -0.8%
• By 2075: 8,833 · +31.9%
• By 2100: 13,631 · +103.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Native American 8% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Portuguese 7% Scotch-Irish 2% Serbian 2%
• Foreign-born: 2%
• Languages at home: 96% English-only · Spanish 1% French/Haitian/Cajun 1%

Political lean MEDSL · Fall River

• 2024 margin: Solid R (+49.2) · D 24.1% · R 73.3% · Other 2.5%
• 2008→2024 swing: -22.7pp toward R · 2008: -26.5pp · 2024: -49.2pp
• All cycles: 2024: R+49.2 2020: R+45.1 2016: R+47.4 2012: R+31.9 2008: R+26.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -128.44%
• Current HPI: 195.686
• 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

-86.9% since first listed

12 events — show timeline

• 2026-04-02 Price Changed $69,000 MRAOR
• 2026-03-23 Listed $75,000 MRAOR
• 2025-08-01 Relisted — BHMLS
• 2025-05-07 Price Changed $83,400 BHMLS
• 2025-05-07 Price Changed $83,400 MRAOR
• 2025-02-03 Listed $84,900 MRAOR
• 2025-02-03 Listed $84,900 BHMLS
• 2024-05-31 Sold (MLS) $525,000 BHMLS
• 2024-04-17 Contingent — BHMLS
• 2024-04-16 Relisted — BHMLS
• 2024-03-30 Contingent — BHMLS
• 2024-03-25 Listed $525,000 BHMLS