3606 W Hughes Pl Pl · Sioux Falls, SD 57108

$315,000

5 bd · 3.0 ba · 2,335 sqft · Townhouse · 8 Days on market

Built 2004 6,371 sqft lot $135/sqft · 5% below area Est $333k · 5% under $12/mo HOA · 1% of rent

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Why this score? — see what drove the D- 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).

• ARV discount +10.0/15.0
• Cash flow +8.6/30.0
• Schools +5.2/10.0
• Livability +4.2/5.0
• Rent growth +4.1/5.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0
• 1% rule +2.3/10.0
• Appreciation +0.0/10.0

Key facts

• Covered deck
• Open concept kitchen
• Private bath

Tags

• SPLIT FOYER TOWNHOUSE
• OPEN CONCEPT KITCHEN
• COVERED DECK
• FENCED BACKYARD
• PRIVATE BATH
• WALK IN CLOSET

Property features AI

Finance

• HOA & community: Homeowners association with $12 monthly fee; HOA provides snow removal

Exterior

• Parking: Attached 2-car garage (approx. 23 x 22)
• Utilities: Public water; Public sewer; Public power (standard connections)
• Home design: Townhouse; Split foyer style; Entry levels include main and lower (split foyer)
• Construction: Brick and hard board exterior; Poured foundation; Composition roof; Below-grade finished area and additional unfinished space in basement
• Exterior features: Garden; Fencing (other type); Deck accessed from living room

Interior

• Kitchen: Kitchen on main level with window and vaulted ceiling; Electric range; Microwave; Dishwasher; Garbage disposal; Refrigerator
• Bedrooms: Main-level master bedroom with walk-in closet, ceiling fan, and vaulted ceiling (approx. 14 x 14); Main-level second bedroom with double closet (approx. 12 x 12); Basement bedroom with closet and egress (approx. 10 x 13); Basement bedroom with double closet (approx. 11 x 15); Basement bedroom with double closet (approx. 15 x 11)
• Flooring: Carpet; Laminate
• Bathrooms: Three full bathrooms
• Heating & cooling: Natural gas heating; Central air
• Interior features: Master bathroom; Main floor laundry; Vaulted ceilings; Sliders to deck; New bedroom added; Full basement
• Laundry & utility: Main floor laundry; Washer; Dryer; Natural gas water heater

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath townhouse listed at $315k.

Deal economics

• At list price, monthly cash flow is $-271 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $267k (15.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $231k (26.5% below list).
• Recommended offer: $231k (26.5% below list) — sets the bar for 1% rule.
• Cap rate 5.3% vs local median 2.6% in Sioux Falls — 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 85/100 on livability (#3 in SD, #610 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F.
• Harrisburg School District 41-2 (rural): math 53% / reading 63% proficiency, ranked #6 of 59 in SD (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 10% free/reduced lunch — higher-income household profile.
• Zoned schools: Harrisburg North Middle School - 08 (math 55% / reading 69%, grade B+, #13 of 143 statewide, top 11%, 747 students, 11% FRL); Harrisburg High School - 01 (math 33% / reading 60%, grade D-, #109 of 151 statewide, top 72%, 1,613 students, 9% FRL) — zoned schools at 10% FRL track the district average.
• Market conditions: Rents rising fast (+6.4%/yr); 327 active listings in the ZIP; solid renter incomes; 232 units permitted in Lincoln County in 2024 (14 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Lincoln County population projected at +66% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts 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.

Recommended offer $231,391 (26.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.73% ✗
• Cap rate: 5.26%
• Cash-on-cash: -3.68%
• DSCR: 0.84
• GRM: 11.3

CMA / ARV

• ARV (median comp): $333,319
• List price: $315,000
• Delta: 0.50%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7204 S Bitterroot Ct	0.30mi	4/3.0 (-1)	2,361 (+1%)	10mo	$400,000	$169	71
3606 W Hughes Pl	0.00mi	4/3.0 (-1)	2,170 (-7%)	15mo	$304,900	$141	71
3513 W Hughes Pl	0.07mi	4/2.0 (-1)	2,225 (-5%)	19mo	$285,000	$128	64
7603 S Peregrine Pl	0.17mi	4/3.0 (-1)	2,435 (+4%)	23mo	$335,000	$138	60
3603 W 93rd St St	0.70mi	5/3.0	2,486 (+6%)	2mo	$339,000	$136	54
3703 W 93rd St St	0.70mi	4/3.0 (-1)	2,241 (-4%)	3mo	$335,000	$149	54
7922 S PASQUEFLOWER Ln	0.73mi	4/3.0 (-1)	2,228 (-5%)	13mo	$458,800	$206	42

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 · 6.41% rent growth · sell at horizon

5-year hold

• IRR: -18.9%
• Equity multiple: 0.32×
• Total profit: $-60,082
• Equity at exit: $46,968

10-year hold

• IRR: -5.9%
• Equity multiple: 0.56×
• Total profit: $-38,425
• Equity at exit: $27,235

Cash invested: $88,200 (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 57108

• Rents YoY: 6.4%
• Active inventory: 327
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $2,314 medium
• Mortgage (P&I): −$1,652
• Tax from tax record: −$303 /mo · $3,642/yr
• Insurance: −$131
• HOA: −$12
• Vacancy / Maint / Mgmt: −$486
• Net cashflow: $-271

Break-even live

Break-even rent $2,656

Max offer price $267,195

Occupancy floor —

Sensitivity live

Price	-10% $-92	-5% $-181	+0% $-271	+5% $-360	+10% $-449
Rent	-10% $-453	-5% $-362	+0% $-271	+5% $-179	+10% $-88
Rate	-1.0pp $-112	-0.5pp $-190	base $-271	+0.5pp $-352	+1.0pp $-435

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: $78,750
• Closing costs: $9,450
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $12 · $144/yr

Listing history 17 events

1. 2026-06-13
   statusdays on market $315,000 Pending 8 DOM
2. 2026-06-10
   days on market $315,000 Active 7 DOM
3. 2026-06-09
   days on market $315,000 Active 6 DOM
4. 2026-06-08
   days on market $315,000 Active 5 DOM
5. 2026-06-07
   days on marketlisting id $315,000 Active 4 DOM
6. 2026-06-02
   days on market $315,000 Active 5 DOM
7. 2026-06-01
   days on market $315,000 Active 4 DOM
8. 2026-05-31
   price $315,000 Active 3 DOM
9. 2026-05-31
   days on market $330,000 Active 3 DOM
10. 2026-05-30
    days on market $330,000 Active 2 DOM
11. 2026-05-15
    listed $335,000 Active 830-char remark
12. 2025-04-04
    status Pending 914-char remark
13. 2025-04-03
    soldstatus $304,900 Sold 914-char remark
14. 2025-03-12
    historical $2,895
15. 2025-03-09
    listed $2,895
16. 2025-03-06
    historical Active - Contingent Misc 914-char remark
17. 2025-03-05
    listed $304,900 Active - New 914-char remark

ⓘ 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: $3,642 · $303/mo
• Projected year-2 tax: $4,126 · $344/mo
• Expected delta: +$485/yr (+$40/mo · 13.3%)

ⓘ 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 4/10 Moderate
• 🌡 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: $27,767
• − Mortgage interest: −$17,645
• − Property taxes: −$3,642
• − Insurance: −$1,575
• − Repairs & maintenance: −$2,221
• − Management: −$2,221
• − HOA: −$144
• − Depreciation: −$9,164
• Taxable loss: −$8,845
• Est. tax savings @ 24.0%: +$2,123
• After-tax cash flow: $-1,125/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: Harrisburg School District 41-2
• NCES district ID: 4631350
• Math proficiency: 53% ▼ -2.00%
• Reading proficiency: 63% ▲ 1.00%
• Median HH income: $77,920
• Composite: 52.05/100
• National rank: #1632
• State rank: #6 of 59 in SD

Livability — Sioux Falls

• Score: 85/100
• State rank: #3
• US rank: #610

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sioux Falls, SD
• County: Lincoln County · 52,465 people
• City population: 207,623
• Metro: Sioux Falls, SD
• Population (ZIP): 33,966
• Household income: $98,197
• Rent vs Own: 38.2% rent · 61.8% own
• Severe rent burden: 779.0

Population outlook (Lincoln County) Hauer SSP2

• Today (2025): 70,138 people
• By 2030: 78,929 · +12.5%
• By 2040: 97,132 · +38.5%
• By 2050: 116,136 · +65.6%
• By 2075: 166,314 · +137.1%
• By 2100: 219,430 · +212.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 4% Hispanic / Latino 3% Asian 3% Black 2%
• Common ancestry: Portuguese 12% Iranian 6% Subsaharan African 3%
• Foreign-born: 7% · Canada, China
• Languages at home: 93% English-only · Russian/Polish/Slavic 3% Spanish 2% Other Indo-European 1%

Political lean MEDSL · Lincoln

• 2024 margin: Strong R (+26.5) · D 35.7% · R 62.2% · Other 2.2%
• 2008→2024 swing: -11.3pp toward R · 2008: -15.2pp · 2024: -26.5pp
• All cycles: 2024: R+26.5 2020: R+23.6 2016: R+29.4 2012: R+25.6 2008: R+15.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -87.20%
• Current HPI: 156.8728
• Rent YoY: ▲ 6.41%
• Metro: Sioux Falls, 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

+3.3% since first listed

13 events — show timeline

• 2026-06-11 Pending — REALTOR® Association of the Sioux Empire
• 2026-06-03 Listing Removed — REALTOR® Association of the Sioux Empire
• 2026-06-03 Listed $315,000 REALTOR® Association of the Sioux Empire
• 2026-05-31 Price Changed $315,000 REALTOR® Association of the Sioux Empire
• 2026-05-26 Listing Removed — REALTOR® Association of the Sioux Empire
• 2026-05-25 Listed $330,000 REALTOR® Association of the Sioux Empire
• 2026-05-15 Listed $335,000 REALTOR® Association of the Sioux Empire
• 2025-04-04 Pending — REALTOR® Association of the Sioux Empire
• 2025-04-03 Sold (MLS) $304,900 REALTOR® Association of the Sioux Empire
• 2025-03-12 Rental Removed $2,895 APPFOLIO
• 2025-03-09 Listed for Rent $2,895 APPFOLIO
• 2025-03-06 Contingent — REALTOR® Association of the Sioux Empire
• 2025-03-05 Listed $304,900 REALTOR® Association of the Sioux Empire

Property tax history

+1.4%/yr

Latest (2025): $3,642 · -12.3% YoY. Source: county tax records.