116 5th St E · Napoleon, ND 58561

$145,000

3 bd · 2.0 ba · 2,240 sqft · SingleFamily · 162 Days on market

Built 1978 10,500 sqft lot

---

Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +18.0/30.0
• ARV discount +7.5/15.0
• DSCR +5.7/10.0
• Appreciation +5.0/10.0
• Schools +4.1/10.0
• 1% rule +3.9/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• Spacious backyard
• Main floor laundry
• Classic kitchen

Tags

• MAIN FLOOR LAUNDRY
• CLASSIC KITCHEN
• SPACIOUS BACKYARD
• UNDERGROUND SPRINKLERS
• STORAGE SHED
• PARTIALLY FINISHED BASEMENT

Property features AI

Finance

• Other: Rectangular lot with rear sprinklers; City street frontage on a public maintained road; Lot dimensions approximately 75 x 140 (0.24 acres)

Exterior

• Parking: Attached garage; Driveway; 2-car garage
• Utilities: Public water; Public sewer; Electricity connected; Sewer connected; Water connected
• Home design: Single family residence; One level
• Construction: Metal/steel siding; Shingle roof; Concrete perimeter foundation; Built with a partially finished basement (concrete) and storage space; sump pump
• Exterior features: Rain gutters; Deck; Shed(s)

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom
• Heating & cooling: Baseboard heating (electric); Ceiling fans; Wall/window air conditioning units
• Interior features: Ceiling fans; Window treatments

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $126 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $129k (11.1% below list).
• Recommended offer: $128k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#87 in ND) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B+; Watch: schools C-, crime C-, amenities F.
• Napoleon 2 (rural): math 50% / reading 40% proficiency, ranked #84 of 169 in ND (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 15% free/reduced lunch — higher-income household profile.
• Market conditions: 7 active listings in the ZIP; 1 units permitted in Logan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($1k loan paydown + $4k appreciation (3.0% local appreciation)).
• At projected returns (3.0% appreciation + 3.0% rent growth), your $41k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 162 days — a 12% lower offer ($128k) is reasonable based on typical stale-listing flexibility.

Recommended offer $127,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 162 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.89% ✗
• Cap rate: 7.33%
• Cash-on-cash: 3.71%
• DSCR: 1.17
• GRM: 9.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.9%
• Equity multiple: 1.63×
• Total profit: $25,417
• Equity at exit: $65,198

10-year hold

• IRR: 13.1%
• Equity multiple: 2.95×
• Total profit: $79,232
• Equity at exit: $100,478

Cash invested: $40,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 82 Strongly Landlord-Friendly
• State North Dakota: 82 Strongly Landlord-Friendly · R+20
• County: — inherits STATE
• City: — inherits STATE

3-day notice; landlord-friendly.

Methodology + full state rankings →

ZIP-level market 58561

• Active inventory: 7
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,289 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$72 /mo · $861/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $126

Break-even live

Break-even rent $1,130

Max offer price $145,000

Occupancy floor 85%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $145,000 Active 162 DOM
2. 2026-06-17
   days on market $145,000 Active 161 DOM
3. 2026-06-16
   days on market $145,000 Active 160 DOM
4. 2026-06-15
   days on market $145,000 Active 159 DOM
5. 2026-06-13
   days on market $145,000 Active 157 DOM
6. 2026-06-12
   days on market $145,000 Active 156 DOM
7. 2026-06-09
   days on market $145,000 Active 153 DOM
8. 2026-06-08
   days on market $145,000 Active 152 DOM
9. 2026-06-07
   days on market $145,000 Active 151 DOM
10. 2026-06-05
    days on market $145,000 Active 149 DOM
11. 2026-06-04
    days on market $145,000 Active 147 DOM
12. 2026-06-02
    statusdays on market $145,000 Active 146 DOM
13. 2026-06-01
    days on market $145,000 Active Under Contract 145 DOM
14. 2026-05-31
    days on market $145,000 Active Under Contract 144 DOM
15. 2026-01-07
    listed $145,000 Active
16. 2025-08-06
    price $134,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast ND · Resets to sale price

• Current annual tax: $861 · $72/mo
• Projected year-2 tax: $1,421 · $118/mo
• Expected delta: +$560/yr (+$47/mo · 65.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $15,465
• − Mortgage interest: −$8,122
• − Property taxes: −$861
• − Insurance: −$725
• − Repairs & maintenance: −$1,237
• − Management: −$1,237
• − Depreciation: −$4,218
• Taxable loss: −$936
• Est. tax savings @ 24.0%: +$225
• After-tax cash flow: $1,731/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Napoleon 2
• NCES district ID: 3813510
• Math proficiency: 50% ▲ 5.00%
• Reading proficiency: 40% ▲ 5.00%
• Median HH income: $52,504
• Composite: 41.12/100
• National rank: #7429
• State rank: #84 of 169 in ND

Livability — Napoleon

• Score: 70/100
• State rank: #87
• US rank: #7936

Category grades

Amenities F Commute F Cost of living A+ Crime C- Employment B+ Housing A+ Health & safety D- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Napoleon, ND
• Population (ZIP): 1,030

Population outlook (Logan County) Hauer SSP2

• Today (2025): 1,807 people
• By 2030: 1,764 · -2.4%
• By 2040: 1,779 · -1.5%
• By 2050: 1,830 · +1.3%
• By 2075: 2,388 · +32.2%
• By 2100: 2,937 · +62.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Hispanic / Latino 2% Two or more races 2%
• Common ancestry: Scotch-Irish 18% Portuguese 9% Norwegian 4%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · German/W. Germanic 2% Spanish 1%

Political lean MEDSL · Logan

• 2024 margin: Solid R (+75.8) · D 11.3% · R 87.1% · Other 1.6%
• 2008→2024 swing: -35.4pp toward R · 2008: -40.4pp · 2024: -75.8pp
• All cycles: 2024: R+75.8 2020: R+74.5 2016: R+73.3 2012: R+55.5 2008: R+40.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.09%
• F500 in state: 2

Industry mix (Fortune 500 HQ in ND)

Industry	F500 HQs	Revenue
▸Utilities / Construction	1	$6B

Price history

+7.5% since first listed

2 events — show timeline

• 2026-01-07 Listed $145,000 GNMLS
• 2025-08-06 Price Changed $134,900 GNMLS