721 E Chicago St · Rapid City, SD 57701

$72,000

2 bd · 1.0 ba · 924 sqft · Other · 25 Days on market

Built 1976

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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

Listing remarks MLS

This well-maintained 16×80 manufactured home offers 3 bedrooms, 2 full bathrooms and a spacious enclosed 8×15 sunroom — ideal for relaxing or entertaining. A 12×12 storage shed provides extra space for tools and hobbies. Recent upgrades include brand-new siding and a new roof, enhancing durability and curb appeal. The property includes a two-car covered carport for convenient parking and vehicle protection. Located in a well-managed community, the lot rent is $400/month which includes water service. Great value — move-in ready and thoughtfully updated.

Key facts

• Covered porch
• Mature pine trees
• Updated kitchen

Tags

• CORNER LOT
• UPDATED KITCHEN
• COVERED PORCH
• MATURE PINE TREES
• CEMENT PARKING PAD

Property features AI

Finance

• Other: Subdivision: FEIGELS WEST
• HOA & community: No association amenities

Exterior

• Utilities: Circuit breaker electrical
• Home design: Manufactured home; Single-story
• Construction: Metal siding; Composition roof
• Exterior features: Corner lot; Level lot; Has view

Interior

• Kitchen: Gas oven; Oven; Dishwasher; Refrigerator
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: Dishwasher; Oven; Gas oven; Refrigerator; Washer; Dryer
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $72k.

Deal economics

• At list price, monthly cash flow is $499 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $72k).
• Recommended offer: $71k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.6% 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; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 1,181 units permitted in Pennington County in 2024 (715 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $498 of loan paydown is wiped out by about $2k 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 $20k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($71k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 10y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

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

Recommended offer $70,920 (1.5% below list)

Questions for the listing agent

1. Built in 1976 — 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: 1.63% ✓
• Cap rate: 14.61%
• Cash-on-cash: 29.69%
• DSCR: 2.32
• GRM: 5.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.71% rent growth · sell at horizon

5-year hold

• IRR: 22.8%
• Equity multiple: 1.92×
• Total profit: $18,572
• Equity at exit: $10,735

10-year hold

• IRR: 30.0%
• Equity multiple: 3.53×
• Total profit: $50,959
• Equity at exit: $6,225

Cash invested: $20,160 (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: 5.1×

Monthly cashflow live

• Estimated rent: $1,176 high
• Mortgage (P&I): −$378
• Tax from tax record: −$23 /mo · $276/yr
• Insurance: −$30
• HOA: −$0
• Vacancy / Maint / Mgmt: −$247
• Net cashflow: $499

Break-even live

Break-even rent $545

Max offer price $72,000

Occupancy floor 53%

Sensitivity live

Price	-10% $540	-5% $519	+0% $499	+5% $478	+10% $458
Rent	-10% $406	-5% $452	+0% $499	+5% $545	+10% $592
Rate	-1.0pp $535	-0.5pp $517	base $499	+0.5pp $480	+1.0pp $461

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: $18,000
• Closing costs: $2,160
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
965 E Omaha St Unit 100 Rapid City, SD	2.0	2.0	858	$1,263	$1.47	22d	1	0.19mi
118 Waterloo St Apt 110 Rapid City, SD	1.0–4.0	1.0–1.5	810	$1,064	$1.31	22d	7	0.32mi
216 E Denver St Rapid City, SD	1.0	1.0	750	$975	$1.30	22d	1	0.53mi
210 East North St Rapid City, SD	1.0	1.0	650	$1,100	$1.69	22d	1	0.59mi
761 E Anamosa St Rapid City, SD	2.0–3.0	1.5	882	$950	$1.08	22d	1	0.86mi
1230 Estes Park Ct Rapid City, SD	2.0	1.0–2.0	956	$1,035	$1.08	22d	9	0.91mi
100 Saint Joseph St Rapid City, SD	2.0	1.0–2.0	744	$1,750	$2.35	22d	4	1.04mi
927 Blaine Ave Rapid City, SD	3.0	1.0	925	$1,550	$1.68	22d	1	1.16mi
231 Quincy St Unit 231 1/2 Quincy Rapid City, SD	1.0	1.0	930	$850	$0.91	22d	1	1.23mi
27 Signal Dr Rapid City, SD	2.0	1.0	648	$925	$1.43	22d	1	1.24mi
720 Haines Ave Unit B Rapid City, SD	2.0	1.0	672	$875	$1.30	22d	1	1.26mi
612 6th St Rapid City, SD	2.0	1.0–2.0	772	$2,945	$3.81	22d	19	1.43mi

Listing history 32 events

1. 2026-06-19
   days on market $72,000 Active 25 DOM
2. 2026-06-18
   days on market $72,000 Active 24 DOM
3. 2026-06-17
   days on market $72,000 Active 23 DOM
4. 2026-06-16
   days on market $72,000 Active 22 DOM
5. 2026-06-15
   days on market $72,000 Active 21 DOM
6. 2026-06-14
   days on market $72,000 Active 19 DOM
7. 2026-06-13
   days on market $72,000 Active 18 DOM
8. 2026-06-10
   days on market $72,000 Active 16 DOM
9. 2026-06-09
   days on market $72,000 Active 15 DOM
10. 2026-06-08
    days on market $72,000 Active 14 DOM
11. 2026-06-07
    days on market $72,000 Active 13 DOM
12. 2026-06-05
    days on market $72,000 Active 10 DOM
13. 2026-06-02
    days on market $72,000 Active 8 DOM
14. 2026-06-01
    days on market $72,000 Active 7 DOM
15. 2026-05-31
    days on market $72,000 Active 6 DOM
16. 2026-05-30
    days on market $72,000 Active 5 DOM
17. 2026-05-25
    listed $72,000 Active
18. 2026-01-02
    soldstatus $75,000 Closed 588-char remark

    Show marketing remark (588 chars)

    This well-maintained 16×80 manufactured home offers 3 bedrooms, 2 full bathrooms and a spacious enclosed 8×15 sunroom — ideal for relaxing or entertaining. A 12×12 storage shed provides extra space for tools and hobbies. Recent upgrades include brand-new siding and a new roof, enhancing durability and curb appeal. The property includes a two-car covered carport for convenient parking and vehicle protection. Located in a well-managed community, the lot rent is $400/month which includes water service. Great value — move-in ready and thoughtfully updated.

19. 2025-12-09
    historical Active Under Contract 588-char remark

    Show marketing remark (588 chars)

    This well-maintained 16×80 manufactured home offers 3 bedrooms, 2 full bathrooms and a spacious enclosed 8×15 sunroom — ideal for relaxing or entertaining. A 12×12 storage shed provides extra space for tools and hobbies. Recent upgrades include brand-new siding and a new roof, enhancing durability and curb appeal. The property includes a two-car covered carport for convenient parking and vehicle protection. Located in a well-managed community, the lot rent is $400/month which includes water service. Great value — move-in ready and thoughtfully updated.

20. 2025-11-12
    listed $80,000 Active 588-char remark

    Show marketing remark (588 chars)

    This well-maintained 16×80 manufactured home offers 3 bedrooms, 2 full bathrooms and a spacious enclosed 8×15 sunroom — ideal for relaxing or entertaining. A 12×12 storage shed provides extra space for tools and hobbies. Recent upgrades include brand-new siding and a new roof, enhancing durability and curb appeal. The property includes a two-car covered carport for convenient parking and vehicle protection. Located in a well-managed community, the lot rent is $400/month which includes water service. Great value — move-in ready and thoughtfully updated.

21. 2025-08-05
    status Active
22. 2025-08-05
    status Active
23. 2025-07-24
    historical Active Under Contract
24. 2025-07-24
    historical Active Under Contract
25. 2025-07-09
    listed $68,900 Active
26. 2025-06-11
    listed $68,900 Active
27. 2023-03-01
    soldstatus $75,000
28. 2023-03-01
    listed $75,000
29. 2019-08-16
    soldstatus $44,100
30. 2019-07-12
    listed $47,900
31. 2017-02-22
    soldstatus $30,500
32. 2016-10-24
    listed $35,000

ⓘ 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: $276 · $23/mo
• Projected year-2 tax: $943 · $79/mo
• Expected delta: +$667/yr (+$56/mo · 242.0%)

ⓘ 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 6/10 Major
• 🌡 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: $14,117
• − Mortgage interest: −$4,033
• − Property taxes: −$276
• − Insurance: −$360
• − Repairs & maintenance: −$1,129
• − Management: −$1,129
• − Depreciation: −$2,095
• Taxable income: $5,095
• Est. tax owed @ 24.0%: −$1,223
• After-tax cash flow: $4,763/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

+105.7% since first listed

16 events — show timeline

• 2026-05-25 Listed $72,000 BHMLS
• 2026-01-02 Sold (MLS) $75,000 BHMLS
• 2025-12-09 Contingent — BHMLS
• 2025-11-12 Listed $80,000 BHMLS
• 2025-08-05 Relisted — BHMLS
• 2025-08-05 Relisted — MRAOR
• 2025-07-24 Contingent — BHMLS
• 2025-07-24 Contingent — MRAOR
• 2025-07-09 Listed $68,900 MRAOR
• 2025-06-11 Listed $68,900 BHMLS
• 2023-03-01 Listed $75,000 BHMLS
• 2023-03-01 Sold (MLS) $75,000 BHMLS
• 2019-08-16 Sold (MLS) $44,100 BHMLS
• 2019-07-12 Listed $47,900 BHMLS
• 2017-02-22 Sold (MLS) $30,500 BHMLS
• 2016-10-24 Listed $35,000 BHMLS

Property tax history

+4.1%/yr

Latest (2025): $276 · -7.2% YoY. Source: county tax records.