306 E 7th St St · Dell Rapids, SD 57022

$169,900

3 bd · 2.0 ba · 762 sqft · Other public records · 3 Days on market

Built 1936 8,712 sqft lot

---

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 +19.7/30.0
• ARV discount +7.5/15.0
• DSCR +6.2/10.0
• Schools +5.4/10.0
• 1% rule +4.5/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• 8,712 sq ft lot
• Built 1936
• Listed 3 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $170k.

Deal economics

• At list price, monthly cash flow is $200 ($2k/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 $161k (5.4% below list).
• Recommended offer: $161k (5.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 83/100 on livability (#6 in SD, #1,043 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F.
• Dell Rapids School District 49-3 (town): math 61% / reading 64% proficiency, ranked #2 of 59 in SD (top 3%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 12% free/reduced lunch — higher-income household profile.
• Zoned schools: Dell Rapids Elementary - 02 (math 82% / reading 77%, grade A, #7 of 253 statewide, top 2%, 393 students, 12% FRL); Dell Rapids Middle School - 03 (math 55% / reading 60%, grade B, #27 of 143 statewide, top 18%, 299 students, 15% FRL); Dell Rapids High School - 01 (math 37% / reading 62%, grade D, #100 of 151 statewide, top 69%, 290 students, 12% FRL) — zoned schools at 13% FRL track the district average.
• Market conditions: 76 active listings in the ZIP; 2,425 units permitted in Minnehaha County in 2024 (1,367 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Minnehaha County population projected at +46% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $53k; list at $170k implies a 221% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1936 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $160,741 (5.4% below list)

Questions for the listing agent

1. Built in 1936 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.95% ✗
• Cap rate: 7.71%
• Cash-on-cash: 5.06%
• DSCR: 1.22
• GRM: 8.8

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: -8.5%
• Equity multiple: 0.69×
• Total profit: $-14,804
• Equity at exit: $25,333

10-year hold

• IRR: 1.0%
• Equity multiple: 1.07×
• Total profit: $3,387
• Equity at exit: $14,690

Cash invested: $47,572 (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 57022

• Home prices YoY: -26.3%
• Active inventory: 76
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,607 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$108 /mo · $1,292/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$338
• Net cashflow: $200

Break-even live

Break-even rent $1,354

Max offer price $169,900

Occupancy floor 83%

Sensitivity live

Price	-10% $297	-5% $249	+0% $200	+5% $152	+10% $104
Rent	-10% $73	-5% $137	+0% $200	+5% $264	+10% $327
Rate	-1.0pp $286	-0.5pp $244	base $200	+0.5pp $156	+1.0pp $112

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-04-04
   status Pending
2. 2026-03-23
   listed $169,900 Active
3. 2022-08-02
   soldstatus $53,000

ⓘ 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: $1,292 · $108/mo
• Projected year-2 tax: $2,226 · $185/mo
• Expected delta: +$934/yr (+$78/mo · 72.3%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°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: $19,289
• − Mortgage interest: −$9,517
• − Property taxes: −$1,292
• − Insurance: −$850
• − Repairs & maintenance: −$1,543
• − Management: −$1,543
• − Depreciation: −$4,943
• Taxable loss: −$398
• Est. tax savings @ 24.0%: +$95
• After-tax cash flow: $2,501/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: Dell Rapids School District 49-3
• NCES district ID: 4618120
• Math proficiency: 61% ▼ -4.00%
• Reading proficiency: 64% ▼ -2.00%
• Median HH income: $60,774
• Composite: 54.17/100
• National rank: #1380
• State rank: #2 of 59 in SD

Livability — Dell Rapids

• Score: 83/100
• State rank: #6
• US rank: #1043

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dell Rapids, SD
• Population (ZIP): 5,476

Population outlook (Minnehaha County) Hauer SSP2

• Today (2025): 222,323 people
• By 2030: 241,430 · +8.6%
• By 2040: 281,643 · +26.7%
• By 2050: 325,574 · +46.4%
• By 2075: 469,313 · +111.1%
• By 2100: 664,763 · +199.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Portuguese 21% Iranian 5% Lithuanian 2%
• Foreign-born: 2% · China, Canada
• Languages at home: 97% English-only · German/W. Germanic 2% French/Haitian/Cajun 1%

Political lean MEDSL · Minnehaha

• 2024 margin: R (+12.7) · D 42.5% · R 55.2% · Other 2.4%
• 2008→2024 swing: -13.4pp toward R · 2008: 0.7pp · 2024: -12.7pp
• All cycles: 2024: R+12.7 2020: R+9.5 2016: R+14.6 2012: R+7.4 2008: D+0.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -88.94%
• Current HPI: 248.823
• 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

+220.6% since first listed

3 events — show timeline

• 2026-04-04 Pending — REALTOR® Association of the Sioux Empire
• 2026-03-23 Listed $169,900 REALTOR® Association of the Sioux Empire
• 2022-08-02 Sold (Public Records) $53,000 Public Records

Property tax history

+1.2%/yr

Latest (2024): $1,292 · +3.2% YoY. Source: county tax records.