532 Nowlin St · Rapid City, SD 57701

$99,900

4 bd · 1.0 ba · 1,544 sqft · SingleFamily public records · 16 Days on market

Built 1935 5,227 sqft lot

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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
• Livability +3.7/5.0
• Schools +3.4/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• Newer roof
• Large yard
• Flooring

Tags

• NEWER ROOF
• LARGE YARD
• MATURE TREES
• NEW WINDOWS
• KITCHEN CABINETS
• FLOORING

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Electric service with circuit breakers
• Home design: Single-family residence; One-story
• Construction: Composition roof
• Exterior features: Level lot; Has a view

Interior

• Flooring: Flooring details not provided
• Bathrooms: One full bathroom
• Heating & cooling: No central cooling listed
• Interior features: Basement present; No built-in appliances listed; No cooling system

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $643 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.0% vs local median 2.5% in Rapid City — 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 74/100 on livability (#34 in SD, #4,720 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, commute F.
• Rapid City Area School District 51-4 (urban): math 34% / reading 46% proficiency, ranked #50 of 59 in SD (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.7%/yr); 216 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,181 units permitted in Pennington County in 2024 (715 in 5+ unit buildings).
• This rent runs 36% of the median local income ($56k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Pennington County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 1.7% rent growth), your $28k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $98,401 (1.5% below list)

Questions for the listing agent

1. Built in 1935 — 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. Crime grade is F 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?
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: 1.67% ✓
• Cap rate: 14.01%
• Cash-on-cash: 27.57%
• DSCR: 2.23
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $245,496
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
807 Allen Ave	0.32mi	4/1.0	1,463 (-5%)	4mo	$92,500	$63	73
1021 Haines Ave	0.09mi	4/2.0	1,684 (+9%)	4mo	$268,000	$159	73
235 Doolittle St	0.32mi	3/1.5 (-1)	1,520 (-2%)	10mo	$297,000	$195	67
1020 N 7th St	0.11mi	3/2.0 (-1)	1,676 (+8%)	5mo	$246,000	$147	67
1014 Haines Ave	0.13mi	3/2.0 (-1)	1,456 (-6%)	11mo	$220,000	$151	67
721 Dilger Ave	0.31mi	3/1.5 (-1)	1,468 (-5%)	12mo	$300,000	$204	61
1007 Willsie Ave	0.24mi	3/2.0 (-1)	1,686 (+9%)	8mo	$235,000	$139	58
811 Blaine Ave	0.44mi	4/2.0	1,692 (+10%)	5mo	$264,000	$156	56
315 Patton St	0.32mi	3/2.0 (-1)	1,360 (-12%)	7mo	$259,000	$190	51
908 Antares Ct	0.59mi	3/2.0 (-1)	1,718 (+11%)	3mo	$163,673	$95	42
113 E Custer St	0.66mi	3/2.0 (-1)	1,456 (-6%)	11mo	$285,000	$196	42
1930 Galaxy Dr	0.55mi	3/2.0 (-1)	1,748 (+13%)	5mo	$300,000	$172	39

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 · 1.71% rent growth · sell at horizon

5-year hold

• IRR: 20.2%
• Equity multiple: 1.81×
• Total profit: $22,622
• Equity at exit: $14,895

10-year hold

• IRR: 27.5%
• Equity multiple: 3.28×
• Total profit: $63,915
• Equity at exit: $8,638

Cash invested: $27,972 (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 57701

• Rents YoY: 1.7%
• Active inventory: 216
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,672 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$112 /mo · $1,348/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$351
• Net cashflow: $643

Break-even live

Break-even rent $858

Max offer price $99,900

Occupancy floor 57%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
118 Waterloo St Apt 110 Rapid City, SD	1.0–4.0	1.0–1.5	810	$1,297	$1.60	20d	7	1.26mi
3220 Champion Dr Rapid City, SD	3.0	1.0–2.0	909	$1,439	$1.58	20d	16	1.46mi

Listing history 12 events

1. 2026-06-19
   days on market $99,900 Active 16 DOM
2. 2026-06-18
   days on market $99,900 Active 15 DOM
3. 2026-06-17
   days on market $99,900 Active 14 DOM
4. 2026-06-16
   days on market $99,900 Active 13 DOM
5. 2026-06-15
   days on market $99,900 Active 12 DOM
6. 2026-06-14
   days on market $99,900 Active 10 DOM
7. 2026-06-13
   days on market $99,900 Active 9 DOM
8. 2026-06-10
   days on market $99,900 Active 7 DOM
9. 2026-06-09
   days on market $99,900 Active 6 DOM
10. 2026-06-08
    days on market $99,900 Active 5 DOM
11. 2026-06-07
    days on market $99,900 Active 4 DOM
12. 2026-06-05
    listed $99,900 Active 1 DOM

ⓘ 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: $1,348 · $112/mo
• Projected year-2 tax: $1,348 · $112/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 7/10 Severe
• 🌡 Heat 2/10 Low 7 d/yr ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,060
• − Mortgage interest: −$5,596
• − Property taxes: −$1,348
• − Insurance: −$500
• − Repairs & maintenance: −$1,605
• − Management: −$1,605
• − Depreciation: −$2,906
• Taxable income: $6,500
• Est. tax owed @ 24.0%: −$1,560
• After-tax cash flow: $6,153/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: Rapid City Area School District 51-4
• NCES district ID: 4659820
• Math proficiency: 34% ▼ -8.00%
• Reading proficiency: 46% ▼ -4.00%
• Median HH income: $50,145
• Composite: 34.47/100
• National rank: #5189
• State rank: #50 of 59 in SD

Livability — Rapid City

• Score: 74/100
• State rank: #34
• US rank: #4720

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rapid City, SD
• County: Pennington County · 99,403 people
• City population: 99,403
• Metro: Rapid City, SD
• Population (ZIP): 45,795
• Household income: $56,461
• Rent vs Own: 39.2% rent · 60.8% own
• Severe rent burden: 1646.0

Population outlook (Pennington County) Hauer SSP2

• Today (2025): 125,504 people
• By 2030: 133,370 · +6.3%
• By 2040: 147,505 · +17.5%
• By 2050: 160,507 · +27.9%
• By 2075: 197,585 · +57.4%
• By 2100: 241,736 · +92.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Native American 11% Two or more races 11% Hispanic / Latino 6% Black 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 7% Lithuanian 4% Slovak 3%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 1%

Political lean MEDSL · Pennington

• 2024 margin: Strong R (+26.4) · D 35.4% · R 61.9% · Other 2.7%
• 2008→2024 swing: -5.3pp toward R · 2008: -21.2pp · 2024: -26.4pp
• All cycles: 2024: R+26.4 2020: R+25.1 2016: R+33.0 2012: R+29.5 2008: R+21.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -189.12%
• Current HPI: 222.9041
• Rent YoY: ▲ 1.71%
• Metro: Rapid City, SD
• 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

• 2026-06-03 Listed $99,900 BHMLS

Property tax history

+0.6%/yr

Latest (2020): $1,348 · +5.8% YoY. Source: county tax records.