1529 3rd St N · Fargo, ND 58102

$279,900

4 bd · 1.0 ba · 936 sqft · SingleFamily public records · 16 Days on market

Built 1950 6,969 sqft lot

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Why this score? — see what drove the D 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 +12.7/30.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• DSCR +3.8/10.0
• Rent growth +3.7/5.0
• Schools +3.6/10.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• Fenced yard
• Newer siding
• 6,969 sq ft lot

Tags

• FENCED YARD
• ORIGINAL HARDWOOD FLOORS
• OVERSIZED DETACHED GARAGE
• FULLY FENCED BACKYARD
• STAMPED CONCRETE PATIO
• NEWER SIDING

Property features AI

Finance

• Other: Lot approximately 0.16 acres (dimensions about 50 x 140)
• Financial info: Conventional mortgage financing listed

Exterior

• Parking: Attached garage with 2 spaces (24 x 26)
• Utilities: City water (connected); City sewer (connected); Natural gas
• Home design: Residential property; One level; Main entry and primary living on one level
• Construction: Block foundation; Asphalt roof (age 8 years or less); Foundation area approximately 936
• Exterior features: Vinyl exterior; Patio; Vinyl and wood fencing

Interior

• Kitchen: Cooktop; Dishwasher; Refrigerator
• Bedrooms: 4 bedrooms (three bedrooms listed on the main level)
• Bathrooms: 1 full bath (main level)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Main-floor full bathroom; Has basement with block foundation; 3 bedrooms on one level
• Laundry & utility: Washer and dryer; Laundry located in basement/utility area; Utility room

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $280k.

Deal economics

• At list price, monthly cash flow is $-30 ($-358/yr) — negative.
• To cash-flow at today's rent, offer at most $275k (1.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $217k (22.5% below list).
• Recommended offer: $217k (22.5% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 2.5% in Fargo — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 85/100 on livability (#1 in ND, #605 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F.
• Fargo 1 (urban): math 41% / reading 44% proficiency, ranked #28 of 53 in ND (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.7%/yr); 205 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 1,218 units permitted in Cass County in 2024 (410 in 5+ unit buildings).
• This rent runs 44% of the median local income ($60k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Cass County population projected at +69% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($276k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $217,005 (22.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 0.78% ✗
• Cap rate: 6.17%
• Cash-on-cash: -0.46%
• DSCR: 0.98
• GRM: 10.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.71% rent growth · sell at horizon

5-year hold

• IRR: -15.4%
• Equity multiple: 0.44×
• Total profit: $-43,543
• Equity at exit: $41,734

10-year hold

• IRR: -4.5%
• Equity multiple: 0.69×
• Total profit: $-24,569
• Equity at exit: $24,201

Cash invested: $78,372 (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 58102

• Rents YoY: 4.7%
• Active inventory: 205
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $2,170 medium
• Mortgage (P&I): −$1,468
• Tax from tax record: −$160 /mo · $1,917/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$456
• Net cashflow: $-30

Break-even live

Break-even rent $2,208

Max offer price $274,630

Occupancy floor 96%

Sensitivity live

Price	-10% $129	-5% $49	+0% $-30	+5% $-109	+10% $-188
Rent	-10% $-201	-5% $-116	+0% $-30	+5% $56	+10% $142
Rate	-1.0pp $111	-0.5pp $41	base $-30	+0.5pp $-102	+1.0pp $-176

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: $69,975
• Closing costs: $8,397
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1601 N University Dr Fargo, ND	2.0–4.0	2.0–4.0	1075	$840	$0.78	21d	1	0.69mi
419 3rd St N Fargo, ND	1.0–3.0	1.0–2.0	1023	$2,600	$2.54	14d	21	1.25mi
1515 11th Ave N Fargo, ND	4.0	1.0–4.0	862	$2,520	$2.92	14d	18	1.26mi
405 Broadway N Fargo, ND	3.0	1.0–2.0	973	$2,250	$2.31	14d	24	1.30mi
624 2nd Ave N Fargo, ND	3.0	1.0–2.0	914	$2,025	$2.22	14d	32	1.50mi

Listing history 11 events

1. 2026-06-18
   days on market $279,900 Active 16 DOM
2. 2026-06-17
   days on market $279,900 Active 15 DOM
3. 2026-06-16
   days on market $279,900 Active 14 DOM
4. 2026-06-15
   days on market $279,900 Active 13 DOM
5. 2026-06-14
   days on market $279,900 Active 11 DOM
6. 2026-06-13
   statusdays on market $279,900 Active 10 DOM
7. 2026-06-10
   days on market $279,900 Contingent - Inspection 8 DOM
8. 2026-06-09
   days on market $279,900 Contingent - Inspection 7 DOM
9. 2026-06-08
   days on market $279,900 Contingent - Inspection 6 DOM
10. 2026-06-07
    statusdays on market $279,900 Contingent - Inspection 5 DOM
11. 2026-06-03
    listed $279,900 Active 1 DOM

ⓘ 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: $1,917 · $160/mo
• Projected year-2 tax: $2,743 · $229/mo
• Expected delta: +$826/yr (+$69/mo · 43.1%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 12 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,041
• − Mortgage interest: −$15,679
• − Property taxes: −$1,917
• − Insurance: −$1,400
• − Repairs & maintenance: −$2,083
• − Management: −$2,083
• − Depreciation: −$8,143
• Taxable loss: −$5,263
• Est. tax savings @ 24.0%: +$1,263
• After-tax cash flow: $905/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: Fargo 1
• NCES district ID: 3806780
• Math proficiency: 41% ▼ -7.00%
• Reading proficiency: 44% ▼ -7.00%
• Median HH income: $46,524
• Composite: 36.23/100
• National rank: #4721
• State rank: #28 of 53 in ND

Livability — Fargo

• Score: 85/100
• State rank: #1
• US rank: #605

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fargo, ND
• County: Cass County · 177,143 people
• City population: 130,876
• Metro: Fargo, ND-MN
• Population (ZIP): 32,912
• Household income: $59,533
• Rent vs Own: 53.8% rent · 46.2% own
• Severe rent burden: 1919.0

Population outlook (Cass County) Hauer SSP2

• Today (2025): 223,771 people
• By 2030: 251,835 · +12.5%
• By 2040: 311,816 · +39.3%
• By 2050: 378,694 · +69.2%
• By 2075: 571,386 · +155.3%
• By 2100: 769,727 · +244.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 5% Two or more races 5% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Portuguese 27% Romanian 3% Scottish 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 92% English-only · Spanish 3% Other Indo-European 2%

Political lean MEDSL · Cass

• 2024 margin: Lean R (+8.4) · D 44.9% · R 53.3% · Other 1.9%
• 2008→2024 swing: -15.5pp toward R · 2008: 7.1pp · 2024: -8.4pp
• All cycles: 2024: R+8.4 2020: R+2.7 2016: R+10.7 2012: R+3.0 2008: D+7.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -171.16%
• Current HPI: 155.885
• Rent YoY: ▲ 4.71%
• Metro: Fargo, ND-MN
• 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

1 event — show timeline

• 2026-06-02 Listed $279,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+1.4%/yr

Latest (2025): $1,917 · -30.3% YoY. Source: county tax records.