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    South Dakota Ranch Near Elk Mountain Title is generated by Realmo AI

    TBD Dewey Road, Edgemont, SD 57735

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    Claim this Listing
    For Sale
    $2,075,000

    Farm/Estate, Ranch - Custer County, SD

    Type:Farm
    Property size:
    1,344 SF
    Lot size:
    402.00 Acres
    Price / SF:
    $1,543/SF
    Added:
    Jan 5, 2026
    Days on Market:
    136
    Last Refresh:
    May 21 at 1:06 pm

    Property Features for TBD Dewey Road

    General Information

    Property type
    Farm
    Property subtype
    Farm
    Bedrooms
    3
    Bathrooms
    2
    Rooms
    Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Dining Room, Living Room
    Parking features
    Garage, Garage - Detached
    Interior features
    Walk-in Closet
    Standard status
    Active
    Size
    1,344 SF
    Lot size
    402.00 Acres

    Taxes and HOA fees

    Tax Annual Amount
    0

    Utilities

    Heating system
    Forced Air, Propane (Heating), Wood (Heating), Wood Stove

    Building Details

    Year built
    1984
    Year renovated
    1984
    Floors in Building
    1
    Building materials
    Vinyl Siding
    Roof type
    Asphalt
    Architectural style
    Ranch

    We can help!

    Listing Contact
    Jim Pederson

    Listing agent Jim Pederson

    Listing office Arnold Realty, Inc. PO Box 98, Newcastle, SD

    Listing date Jan 5, 2026

    MLS# 11624756 Listing URL

    Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 402‑acre ranch near Elk Mountain featuring timbered hills, hay meadows, and open pastures.
    • Year‑round recreation is at your doorstep with proximity to Black Hills National Forest lands.
    • Enjoy Elk Mountain views from the well‑kept, remodeled (2015) three‑bedroom home.
    • Includes a 24' x 42' insulated pole barn with 200‑amp service, garage/shop, and other outbuildings.
    • 60 acres of hay ground, including 48 acres seeded to alfalfa/grass in 2023.
    • Fenced into five main pastures with two water wells.

    Overview

    This 402-acre ranch is situated in the foothills near Elk Mountain in western South Dakota, between Custer, SD, and Newcastle, WY, approximately one hour from Rapid City. The property features timbered hills, hay meadows, and open pastures, with convenient access to Black Hills National Forest lands for year-round recreation. The well-kept home includes three bedrooms and 1.75 baths. Remodeled in 2015, the home features a new kitchen, updated main bath, laminate flooring, decking, windows, and roof. The manufactured home has 1,344 sq. ft., an open floor plan, and large windows with Elk Mountain views. Additional improvements include a garage/shop, a 24' x 42' insulated pole barn with 200-amp service, a high-fenced hay stackyard, an RV carport, RV hookup, a chicken coop, a fenced garden area, and wood plank corrals. The ranch is fenced into five main pastures. There are fields with 60 acres of hay ground, including 48 acres seeded to alfalfa/grass in 2023 and 12 acres in crested wheatgrass. The property has two water wells. This working ranch offers a combination of quality infrastructure, convenient access, and proximity to Black Hills recreation. An optional 10-acre parcel with the residence, garage, barn, and one water well may be purchased separately.
    Location Intelligence

    Current Use by Public Records

    Ranches

    Map

    City
    Edgemont
    County
    Fall River
    State
    South Dakota
    Longitude
    -103.759
    Latitude
    43.1994

    FAQs

    What type of property is this?
    Ranch - 402-acre ranch with updated home and outbuildings near Black Hills.
    Where is this ranch located?
    The property is located at TBD Dewey Road Edgemont, SD.
    What is the asking price?
    The asking price for this property is $2,075,000.
    What are key features of this property?
    This property features: 402‑acre ranch near Elk Mountain featuring timbered hills, hay meadows, and open pastures.; Year‑round recreation is at your doorstep with proximity to Black Hills National Forest lands.; Enjoy Elk Mountain views from the **well‑kept, remodeled (2015) three‑bedroom home.**
    (307) 746-2083
    We can help!
    Listing Contact
    Jim Pederson
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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