Real Estate Investing in Flandreau, South Dakota (57028)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 57028 (Flandreau, SD)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 11.0% vacancy may signal weakening demand.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Flandreau, SD (57028)?
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Market Analysis: 57028 Flandreau
Investors eyeing 57028 need to respect the fundamentals at play. Home values of $234K come alongside slower price movement and elevated management overhead.
For an experienced owner, 57028 can be a a credible choice for hunting ground — but the discount at $234K reflects genuine risk that outside investors often underestimate.
ZIP 57028's metrics run below Moody County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
From an investor standpoint, 3,112 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
Strategy in 57028 is an operator game, not a passive one. On balance, entry prices of $234K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Flandreau:
Property Strategy for 57028
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $149,544 | $940 | 4.5% | — | $74,772 |
| 3BR | $215,189 | $1,260 | 4.2% | — | $71,730 |
| 4BR | $261,435 | $1,460 | 4.0% | — | $65,359 |
Market Trends
Home Value History (with trend line)
📊 How Does 57028 Compare?
| Metric | 57028 | Flandreau | South Dakota |
|---|---|---|---|
| Home Value | $233,688 | $271,558 | $311,504 |
| 5-Year CAGR | 5.5% | 5.5% | 6.8% |
| Avg Rent | $846 | $842 | - |
| Cap Rate | 2.8% | 2.5% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 57028 (Flandreau, SD). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $233,688 |
| Monthly Rent | $846 |
| Price-to-Rent | 23.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.3% |
| Cap Rate | 2.8% |
| 5-Year IRR | 8.4% |
📈 Home Appreciation
| 1-Year | +5.0% ▲ |
| 3-Year CAGR | +1.8% ▲ |
| 5-Year CAGR | +5.5% ▲ |
| 10-Year CAGR | +7.4% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.8%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 57028
Population: 3,112
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 57028
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
Frequently Asked Questions
What is the typical rental rate in Flandreau, SD?
The typical rental in Flandreau, SD commands about $846/mo monthly. That rent profile consistent cash flow against the $234K purchase basis.
How expensive is real estate in Flandreau, SD?
The median home value in Flandreau, SD is roughly $234K. That puts it reasonable relative to the SD statewide average.
Is Flandreau in SD worth investing in?
Investors tracking Flandreau, SD will find a 3.0/5 rating supported by $234K median home values and $846/mo rents. That profile suits long-term holders targeting predictable returns.
Is vacancy a concern in Flandreau, SD?
Expect elevated vacancy in Flandreau, SD. Rents at $846/mo are absorbed by the tenant base without meaningful lag.
Is rental property easy to operate in Flandreau, SD?
Landlord-friendliness in Flandreau, SD is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
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