Real Estate Investing in Lake City, South Dakota (57247)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 57247 (Lake City, SD)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
Structural challenges here. The numbers may look cheap but operational risk is high. Only for experienced, hands-on investors.
- High vacancy: 80.2% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 30.9 — hard to cash-flow at these prices.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Lake City, SD (57247)?
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Market Analysis: 57247 Lake City
ZIP 57247 inside Marshall County looks affordable on the surface — median value of $327K — 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 57247 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
Regionally, 57247 sits on the difficult end of the SD spectrum. The a credible choice for read — for disciplined operators — is that pricing reflects the difficulty.
Resident income in 57247 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
The 57247 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Lake City:
Market Trends
Home Value History (with trend line)
📊 How Does 57247 Compare?
| Metric | 57247 | Lake City | South Dakota |
|---|---|---|---|
| Home Value | $327,074 | $327,074 | $311,504 |
| 5-Year CAGR | N/A | N/A | 6.8% |
| Avg Rent | $882 | $882 | - |
| Cap Rate | 2.1% | 2.1% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 57247 (Lake City, SD). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $327,074 |
| Monthly Rent | $882 |
| Price-to-Rent | 30.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.2% |
| Cap Rate | 2.1% |
| 5-Year IRR | 12.7% |
📈 Home Appreciation
| 1-Year | +10.6% ▲ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
| 10-Year CAGR | N/A |
🏠 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 (2.1%). 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 57247
Population: 229
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
Frequently Asked Questions
What do rentals go for in Lake City, SD?
Rents in Lake City, SD run near $882/mo. Compared with median home prices of $327K that produces solid gross yields for typical rentals.
How qualified is the tenant pool in Lake City, SD?
Working renters make up the core of the Lake City, SD tenant base. The pool is reasonable for investors targeting long-term holds.
Is Lake City in SD worth investing in?
Lake City, SD rates 2.0/5 for investability. With median values at $327K and rents near $882/mo, the market offers reasonable fundamentals for rental investors.
Are eviction rules reasonable in Lake City, SD?
Rental owners in Lake City, SD deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
What type of investing works in Lake City, SD?
Most investors in Lake City, SD run a careful cash-flow rentals with hands-on management strategy. It aligns with the 2.0/5 investability profile and the market fundamentals.
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