Real Estate Investing in New Underwood, South Dakota (57761)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 57761 (New Underwood, SD)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 22.4% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 38.0 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in New Underwood, SD (57761)?
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Market Analysis: 57761 New Underwood
This part of Pennington County is not an easy win. The 57761 ZIP registers softness in key indicators, and the playbook that works in cleaner markets often stalls here.
The 57761 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
ZIP 57761's metrics run below Pennington County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
Looking more closely, 1,274 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.
The right play in 57761 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in New Underwood:
Market Trends
Home Value History (with trend line)
📊 How Does 57761 Compare?
| Metric | 57761 | New Underwood | Rapid City, SD | South Dakota |
|---|---|---|---|---|
| Home Value | $435,359 | $435,359 | N/A | $311,504 |
| 5-Year CAGR | 8.8% | 8.8% | N/A | 6.8% |
| Avg Rent | $954 | $954 | N/A | - |
| Cap Rate | 1.7% | 1.7% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 57761 (New Underwood, SD). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $435,359 |
| Monthly Rent | $954 |
| Price-to-Rent | 38.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 2.6% |
| Cap Rate | 1.7% |
| 5-Year IRR | 10.5% |
📈 Home Appreciation
| 1-Year | +11.7% ▲ |
| 3-Year CAGR | +5.9% ▲ |
| 5-Year CAGR | +8.8% ▲ |
| 10-Year CAGR | +9.0% ▲ |
🏠 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 (1.7%). 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 57761
Population: 1,274
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 57761
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
Should investors consider New Underwood, SD?
The 3.0/5 investability rating in New Underwood, SD reflects its $435K prices and $954/mo rents. Investors generally consider it a solid option within SD.
What type of investing works in New Underwood, SD?
A careful cash-flow rentals with hands-on management strategy New Underwood, SD best. The market produces measured results for that approach at the $435K price point.
What are rental rates like in New Underwood, SD?
Average rent in New Underwood, SD is approximately $954/mo per month. Against $435K home values that yields a reasonable rent-to-price ratio.
How landlord-friendly is New Underwood, SD?
Landlord-friendliness in New Underwood, SD is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
Is vacancy a concern in New Underwood, SD?
Expect elevated vacancy in New Underwood, SD. Rents at $954/mo are absorbed by the tenant base without meaningful lag.
You know 57761 now. You don’t know where it ranks.
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How 57761 ranks in Rapid City, SD
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