What is the typical profit margin for fix-and-flip projects in Hot Springs?

With median sale prices around $275K–$400K and below-list-price acquisitions, investors can typically target 15–25% profit margins after renovation costs. The key is securing properties at 20–30% below after-repair value and managing renovation budgets efficiently.

How long do homes typically stay on the market in Hot Springs?

Homes average 94–144 days on market, significantly longer than competitive urban markets. This extended timeline requires patient capital and careful project planning to ensure holding costs don't erode profitability.

What is the rental yield potential if I decide to hold instead of flip?

Rental yields in Hot Springs average 6.8–7.2%, with typical rents around $1,200/month. This makes the market viable for buy-and-hold strategies if market conditions change or a flip project underperforms.

Fix And Flip Investment Properties for Sale in Hot Springs, SD

Property at 1501 Albany Ave, Hot Springs, SD

3 Bed
2 Bath
2000 sft

1501 Albany Ave, Hot Springs, SD, 57747

Property at 1645 Washington Ave, Hot Springs, SD

5 Bed
3 Bath
3574 sft

1645 Washington Ave, Hot Springs, SD, 57747

Property at 1427 Evans St, Hot Springs, SD

3 Bed
2 Bath
1763 sft

1427 Evans St, Hot Springs, SD, 57747

Here are some other similar properties you might be interested in:

Property at 700 N Bobwhite Pl, Sioux Falls, SD

3 Bed
2 Bath
1736 sft

700 N Bobwhite Pl, Sioux Falls, SD, 57107

Property at 16971 Union Ctr, Sturgis, SD

4 Bed
1 Bath
3264 sft

16971 Union Ctr, Sturgis, SD, 57785

3 Bed
2 Bath
1981 sft

221 E Essex Ave, Salem, SD, 57058

2 Bed
1 Bath
1132 sft

305 W Elm St, Beresford, SD, 57004

Property at 316 N Catherine Ave, Madison, SD

2 Bed
1 Bath
840 sft

316 N Catherine Ave, Madison, SD, 57042

3 Bed
2 Bath
- sft

211 2nd Ave SW, Herreid, SD, 57632

Property at 401 Us Highway 14 W #4, De Smet, SD

1 Bed
2 Bath
1400 sft

401 Us Highway 14 W #4, De Smet, SD, 57231

Property at 840 N Spruce St Lot 294, Rapid City, SD

3 Bed
2 Bath
1426 sft

840 N Spruce St Lot 294, Rapid City, SD, 57701

3 Bed
2 Bath
1308 sft

810 Locust St, Yankton, SD, 57078

3 Bed
2 Bath
- sft

129 Norbeck Dr, Pierre, SD, 57501

2 Bed
1 Bath
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803 1st Ave E, Mobridge, SD, 57601

4 Bed
2 Bath
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103 Wren Ct, Box Elder, SD, 57719

Property at 2604 S Highway 281, Aberdeen, SD

- Bed
- Bath
- sft

2604 S Highway 281, Aberdeen, SD, 57401

3 Bed
2 Bath
1824 sft

919 Rice Ave, Gregory, SD, 57533

Property at 1237 Spearfish Mountain Ln, Spearfish, SD

3 Bed
2 Bath
1216 sft

1237 Spearfish Mountain Ln, Spearfish, SD, 57783

Property at 44232 Dumarce Lake Rd, Veblen, SD

$ 100,000

ROI

Cash Flow/m

2 Bed
1 Bath
960 sft

44232 Dumarce Lake Rd, Veblen, SD, 57270

2 Bed
1 Bath
1379 sft

310 Dakota St, Alcester, SD, 57001

Property at 1113 Wisconsin Ave SW, Huron, SD

2 Bed
2 Bath
1531 sft

1113 Wisconsin Ave SW, Huron, SD, 57350

Property at 240 Hubbard St W, Carthage, SD

4 Bed
2 Bath
1097 sft

240 Hubbard St W, Carthage, SD, 57323

- Bed
- Bath
- sft

2769 Edgewater Dr, Gary, SD, 57237

- Bed
- Bath
- sft

Northbay Dr, Arlington, SD, 57212

Property at L1b B9 17th Ave SW, Watertown, SD

$ 100,000

ROI

Cash Flow/m

- Bed
- Bath
- sft

L1b B9 17th Ave SW, Watertown, SD, 57201

$ 100,000

ROI

Cash Flow/m

- Bed
- Bath
- sft

1100 E Thompson Pl, Tea, SD, 57064

6 Bed
5 Bath
1930 sft

605 Main Ave, Lemmon, SD, 57638

Why Invest in Hot Springs, South Dakota?

Hot Springs, SD offers fix-and-flip investors a non-competitive market with extended holding periods but favorable entry prices. The median sale price of $275K–$400K provides accessible acquisition costs for renovation projects. With homes selling below list price and appreciation trending upward at 1.9–5.0% annually, investors can capitalize on value-add strategies. The low competition score (15/100) means less bidding wars and more negotiating power for strategic buyers seeking renovation opportunities.

12.5%

Avg. ROI

6.8%

Rental Yield

7.2%

Cap Rate

$450/mo

Avg. Cash Flow

$1200/mo

Avg. Rent

3.5%

1Y Appreciation

Frequently Asked Questions

Yes, for patient investors. The low competition score (15/100), affordable entry prices ($275K–$400K), and homes selling below list price create favorable acquisition conditions. However, the 94–144 day average time on market means slower exit timelines compared to competitive metros.

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Is Hot Springs, SD a good fix-and-flip market?

What is the typical profit margin for fix-and-flip projects in Hot Springs?

How long do homes typically stay on the market in Hot Springs?

What is the rental yield potential if I decide to hold instead of flip?

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