Real Estate Investing in Herreid, South Dakota (57632)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 57632 (Herreid, SD)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
Structural challenges here. The numbers may look cheap but operational risk is high. Only for experienced, hands-on investors.
- High vacancy: 17.2% of homes vacant — above national norms.
• 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 Herreid, SD (57632)?
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Market Analysis: 57632 Herreid
Investors eyeing 57632 need to respect the fundamentals at play. Home values of $239K come alongside slower price movement and elevated management overhead.
For an experienced owner, 57632 can be a a solid fit for hunting ground — but the discount at $239K reflects genuine risk that outside investors often underestimate.
Meanwhile, 57632 offers a low basis, the region around Herreid has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Employment concentration in 57632 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
The right play in 57632 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 Herreid:
Market Trends
Home Value History (with trend line)
📊 How Does 57632 Compare?
| Metric | 57632 | Herreid | South Dakota |
|---|---|---|---|
| Home Value | $239,445 | $239,445 | $311,504 |
| 5-Year CAGR | N/A | N/A | 6.8% |
| Avg Rent | $846 | $846 | - |
| Cap Rate | 2.8% | 2.8% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 57632 (Herreid, SD). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $239,445 |
| Monthly Rent | $846 |
| Price-to-Rent | 23.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.2% |
| Cap Rate | 2.8% |
| 5-Year IRR | 2.3% |
📈 Home Appreciation
| 1-Year | +10.3% ▲ |
| 3-Year CAGR | -0.4% ▼ |
| 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 (2.8%). 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 57632
Population: 687
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 57632
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 Herreid, SD?
With a 2.0/5 investability score, Herreid, SD ranks as a solid market for rental property investors. Median prices of $239K and rents of $846/mo drive the underlying numbers.
How strong are rents in Herreid, SD?
Investors in Herreid, SD typically see rents near $846/mo per month against $239K home values - a solid setup for rental cash flow.
What is the tenant pool like in Herreid, SD?
Expect a solid tenant pool in Herreid, SD. The rental market absorbs $846/mo rents without meaningful friction.
Does a duplex house hack pencil in Herreid, SD?
The a challenging house-hack environment in Herreid, SD reflects the rent-to-price spread. Expect meaningful PITI offset at market rents.
How high is vacancy risk in Herreid, SD?
Vacancy risk in Herreid, SD is elevated. That supports predictable cash flow for typical rental holds.
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