Real Estate Investing in Salem, South Dakota (57058)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 57058 (Salem, 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: 10.4% 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 Salem, SD (57058)?
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Market Analysis: 57058 Salem
ZIP 57058 inside McCook County looks affordable on the surface — median value of $258K — but the discount exists for reasons that a careful buyer should understand before committing.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 57058 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
From a cash-flow lens, 57058 offers a low basis, the region around Salem has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
From an investor standpoint, 1,792 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.
Experienced landlords with local relationships tend to find 57058 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Salem:
Property Strategy for 57058
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $148,048 | $1,100 | 5.3% | +8.2% | $74,024 |
| 3BR | $220,011 | $1,510 | 4.9% | +7.5% | $73,337 |
| 4BR | $316,936 | $1,850 | 4.2% | — | $79,234 |
Market Trends
Home Value History (with trend line)
📊 How Does 57058 Compare?
| Metric | 57058 | Salem | Sioux Falls, SD | South Dakota |
|---|---|---|---|---|
| Home Value | $258,262 | $258,262 | N/A | $311,504 |
| 5-Year CAGR | 5.9% | 5.9% | N/A | 6.8% |
| Avg Rent | $990 | $990 | N/A | - |
| Cap Rate | 3.0% | 3.0% | - | - |
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 57058 (Salem, SD). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $258,262 |
| Monthly Rent | $990 |
| Price-to-Rent | 21.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.6% |
| Cap Rate | 3.0% |
| 5-Year IRR | 8.9% |
📈 Home Appreciation
| 1-Year | +6.9% ▲ |
| 3-Year CAGR | +3.7% ▲ |
| 5-Year CAGR | +5.9% ▲ |
| 10-Year CAGR | +7.9% ▲ |
🏠 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 (3.0%). 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 57058
Population: 1,792
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 57058
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
Where do home prices stand in Salem, SD?
Salem, SD median home values land near $258K. That is reasonable territory for investors looking at $990/mo-per-month rentals.
What do rentals go for in Salem, SD?
Rental rates in Salem, SD average $990/mo. Tenant demand and $258K home values make the yield look reasonable by investor standards.
Which real estate strategy fits Salem, SD?
The best-fit strategy in Salem, SD is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
Does a duplex house hack pencil in Salem, SD?
For house hackers, Salem, SD is a challenging. The $990/mo rent on a unit helps defray the mortgage on a $258K property.
How do landlord-tenant laws work in Salem, SD?
SD law landlord-friendly for landlords, and Salem inherits those rules. Investors should still review local ordinances for rental licensing.
You know 57058 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 57058 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 57058 ranks in Sioux Falls, SD
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