Priced to Renovate & Build Equity Fast .... the deal just got sweeter. Situated on 5.75 acres almost backing to Forest Service (USFS) land and near Box Elder Creek, this custom-built home offers privacy, space, and a truly unique layout. Located where Nemo Road meets iconic Waterwheel Lane, the setting is hard to duplicate. Built in 1992 and still owned by the original owner, the home was designed for function rather than modern trends, and features a unique raised-ranch layout. There are four bedrooms, with potential for a fifth; not all rooms have closets, but each level includes a den that works well as office or flex space. The main level includes a spacious primary suite with two walk-in closets, a sun-room off the large kitchen, dining room, main floor laundry, a mudroom, and generous storage throughout. There is amazing natural light; windows everywhere! The lower level features a bedroom, den, bath, and approximately 1,500 square feet of shop space with direct access to the garage. This is ideal for hobbies, wood working, a home business, or you could finish in the future for living space. Additional features include an attached garage, covered RV parking, wraparound decks, a few newer windows, and plenty of room to improve and make it your own. The electric heat is a super efficient radiant ceiling heating system. The home maybe is a bit unconventional, but the land, location, and potential make this a rare opportunity. Shared Road and Shared Well agreements may need to be created for the transfer of the property, and the seller does not have any direct knowledge of any potential flood insurance requirements. No FEMA documentation or elevation certificates are available from the seller. This property is close to USFS, ATV trails, snowmobile trails, Lead/Deadwood, and only about 6 miles from Nemo, which is everyone’s favorite. Call today to schedule your private tour. Listed by: Amanda Kirschenman, Coldwell Banker 605-390-6070.
For sale
Price cut: $56K (5/21)
$559,000
12458 Waterwheel Ln, Nemo, SD 57759
4beds
2,733sqft
Single Family Residence
Built in 1992
5.75 Acres Lot
$548,100 Zestimate®
$205/sqft
$-- HOA
What's special
Dining roomCovered rv parkingAttached garageGenerous storage throughoutNewer windowsWraparound decksUnique raised-ranch layout
- 176 days |
- 1,230 |
- 60 |
Zillow last checked:
Listing updated:
Listed by:
AMANDA KIRSCHENMAN 605-390-6070,
COLDWELL BANKER BLACK HILLS LEGACY,
FRED A HOLPP 605-209-3090,
COLDWELL BANKER BLACK HILLS LEGACY
Source: Black Hills AOR,MLS#: 177043
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Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 3
- Full bathrooms: 2
- 1/2 bathrooms: 1
Bathroom
- Features: Separate Walk-in Closets, Shower Only
Dining room
- Features: Formal, Kitchen
Heating
- Electric
Cooling
- Has cooling: Yes
Features
- Flooring: Carpet
- Basement: Walk-Out Access
- Number of fireplaces: 1
Interior area
- Total structure area: 4,262
- Total interior livable area: 2,733 sqft
Property
Parking
- Total spaces: 2
- Parking features: Attached, Two Car
- Attached garage spaces: 2
- Has uncovered spaces: Yes
- Details: Driveway Exposure(West)
Features
- Has spa: Yes
- Spa features: Jet Tub, Shower and Whirlpool Tub
- Has view: Yes
- View description: Hills, Meadow
Lot
- Size: 5.75 Acres
- Features: Level, Rolling Slope
Details
- Parcel number: 261900040303000
Construction
Type & style
- Home type: SingleFamily
- Architectural style: Ranch
- Property subtype: Single Family Residence
Materials
- Frame
- Roof: Composition
Condition
- Year built: 1992
Community & HOA
Community
- Subdivision: Greenwood Subd
HOA
- Amenities included: None
- Services included: None
Location
- Region: Nemo
Financial & listing details
- Price per square foot: $205/sqft
- Tax assessed value: $527,340
- Annual tax amount: $3,513
- Date on market: 1/12/2026
Estimated market value
$548,100
$521,000 - $576,000
$3,843/mo
Price history
| Date | Event | Price |
|---|---|---|
| 5/21/2026 | Price change | $559,000-9.1%$205/sqft |
Source: | ||
| 4/7/2026 | Price change | $615,000-10.2%$225/sqft |
Source: | ||
| 1/12/2026 | Listed for sale | $685,000$251/sqft |
Source: | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $3,513 -1.5% | $527,340 +10.7% |
| 2024 | $3,568 +6.6% | $476,550 +12.7% |
| 2023 | $3,346 +10.4% | $422,810 +12.5% |
| 2022 | $3,030 -0.4% | $375,670 +40.3% |
| 2021 | $3,044 | $267,740 -4.6% |
| 2020 | $3,044 -4.6% | $280,650 |
| 2019 | $3,191 | $280,650 +0.9% |
| 2018 | $3,191 +5.5% | $278,090 +3.7% |
| 2017 | $3,025 +0.4% | $268,250 |
| 2016 | $3,013 +4.4% | $268,250 +1.3% |
| 2015 | $2,886 -7.8% | $264,850 -1.3% |
| 2014 | $3,131 -0.9% | $268,460 +2.6% |
| 2013 | $3,161 | $261,750 +0.2% |
| 2011 | -- | $261,270 |
Find assessor info on the county website
Monthly payment
Est. payment$--/mo
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
See how much you could borrow to make a competitive offer.
Climate risks
Neighborhood: 57759
Getting around
0 / 100
Car-DependentNearby schools
GreatSchools rating
- 4/10Lead-Deadwood Elementary - 03Grades: K-5Distance: 13.6 mi
- 7/10Lead-Deadwood Middle School - 02Grades: 6-8Distance: 13.8 mi
- 4/10Lead-Deadwood High School - 01Grades: 9-12Distance: 13.7 mi
Schools provided by the listing agent
- District: Lawrence
Source: Black Hills AOR. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
A local agent can set up tours, give advice and negotiate with sellers.
A local lender can help you make sure your offer is ready when you are.
- South Dakota
- Lawrence County
- Nemo
- 57759
- 12458 Waterwheel Ln






