1119 University Dr · Bismarck, ND 58504

$25,000

3 bd · 2.0 ba · 1,080 sqft · Manufactured · 32 Days on market

Built 1974 Est $44k · 44% under

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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 +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.0/5.0
• Schools +3.7/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

* LT #1607-NEW HT TAPE, NEW DR LOCKS, NEW PAINT INSIDE, NEW PAIN ON SKIRTING & DECK, BATH PAINTED-ROOF COMPLETELY REDONE-10X12 ATTACHED SHED(ENTRY)-SHOWS WELL-NEW CRPT & VNYL-SKYWAY PK 1607-DOGS IN KENNLDO NOT LET OUT-MAY BITE Basement - NONE.

Key facts

• Built 1974
• Listed 32 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $25k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $25k).
• Recommended offer: $24k (3.0% below list) — sets the bar for market timing.
• Cap rate 56.9% vs local median 3.1% in Bismarck — 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 79/100 on livability (#5 in ND, #2,213 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: crime C-, amenities D+, commute F.
• Bismarck 1 (urban): math 41% / reading 42% proficiency, ranked #25 of 53 in ND (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 19% free/reduced lunch — higher-income household profile.
• Zoned schools: Becep Center (332 students, 0% FRL); Wachter Middle School (math 34% / reading 34%, grade F, #26 of 35 statewide, top 79%, 1,000 students, 30% FRL); Bismarck High School (math 22% / reading 38%, grade F, #90 of 144 statewide, top 66%, 1,333 students, 27% FRL) — zoned schools at 19% FRL track the district average.
• Market conditions: Rents rising (+2.8%/yr); 261 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 259 units permitted in Burleigh County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $173 of loan paydown is wiped out by about $750 of value loss. Plan a longer hold.
• Burleigh County population projected at +61% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 2.8% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($24k) is reasonable based on typical stale-listing flexibility.
• 52 sale attempts since 34y ago; this cycle's ask is 2074% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Recommended offer $24,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — 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. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 6.21% ✓
• Cap rate: 56.86%
• Cash-on-cash: 180.59%
• DSCR: 9.04
• GRM: 1.3

CMA / ARV

• ARV (on-the-fly): $44,280
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1119 University Dr #826	0.00mi	3/1.0	1,120 (+4%)	7mo	$46,000	$41	84
232 Boeing Ave	0.22mi	3/2.0	1,056 (-2%)	6mo	$25,000	$24	81
1119 University Dr #1221	0.00mi	3/1.0	952 (-12%)	2mo	$22,000	$23	75
135 Delta Ave	0.30mi	3/1.5	1,072 (-1%)	16mo	$43,500	$41	70
101 Northwest Dr	0.18mi	3/2.0	1,165 (+8%)	12mo	$79,000	$68	69
134 Maryland St	0.36mi	3/2.0	1,056 (-2%)	18mo	$47,900	$45	64
145 Georgia St	0.30mi	3/1.0	924 (-14%)	2mo	$18,000	$19	56
121 Georgia St	0.33mi	2/1.0 (-1)	1,004 (-7%)	13mo	$15,900	$16	53
162 Northwest Dr	0.38mi	3/2.0	1,216 (+13%)	15mo	$63,000	$52	49
129 New Jersey St	0.23mi	3/2.0	1,216 (+13%)	23mo	$72,900	$60	49
113 New Jersey St	0.28mi	2/1.5 (-1)	980 (-9%)	24mo	$35,000	$36	45
1620 Pennsylvania Ave	0.48mi	2/1.0 (-1)	924 (-14%)	10mo	$13,500	$15	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 2.81% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 9.97×
• Total profit: $62,769
• Equity at exit: $3,728

10-year hold

• IRR: —
• Equity multiple: 20.99×
• Total profit: $139,935
• Equity at exit: $2,162

Cash invested: $7,000 (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 58504

• Rents YoY: 2.8%
• Active inventory: 261
• Price-to-rent: 1.3×

Monthly cashflow live

• Estimated rent: $1,552 high
• Mortgage (P&I): −$131
• Tax est. 1.5%: −$31 /mo · $375/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$326
• Net cashflow: $1,053

Break-even live

Break-even rent $219

Max offer price $25,000

Occupancy floor 27%

Sensitivity live

Price	-10% $1,071	-5% $1,062	+0% $1,053	+5% $1,045	+10% $1,036
Rent	-10% $931	-5% $992	+0% $1,053	+5% $1,115	+10% $1,176
Rate	-1.0pp $1,066	-0.5pp $1,060	base $1,053	+0.5pp $1,047	+1.0pp $1,040

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2020 S 12th St Bismarck, ND	3.0	1.0–2.0	1185	$1,955	$1.65	22d	19	0.59mi
2130 S 12th St Bismarck, ND	1.0–3.0	1.0–2.0	1152	$1,980	$1.72	22d	12	0.70mi
172 Boise Ave Bismarck, ND	2.0	1.0	1200	$1,050	$0.88	22d	1	0.71mi
505 1/2 S 10th St Bismarck, ND	3.0	1.0	1500	$1,600	$1.07	22d	1	0.74mi
215 E Arbor Ave Unit 205-305G Bismarck, ND	2.0	2.0	1031	$995	$0.97	22d	1	0.76mi
215 E Arbor Ave Unit 201-302E Bismarck, ND	2.0	1.0	1100	$995	$0.90	22d	1	0.76mi
205 E Arbor Ave Bismarck, ND	2.0	2.0	1031	$995	$0.97	22d	1	0.80mi
201 E Arbor Ave Bismarck, ND	2.0	1.0	1100	$995	$0.90	22d	1	0.83mi
1543 S Washington St Bismarck, ND	3.0	2.0	1500	$2,050	$1.37	22d	1	0.88mi
407 N 12th St Unit 3/4 Bismarck, ND	2.0	1.0	1100	$1,200	$1.09	22d	1	1.30mi
119 Irvine Loop Bismarck, ND	3.0	1.0–2.0	974	$2,400	$2.46	22d	1	1.32mi
100 Santa Fe Ave Unit 1204 Bismarck, ND	2.0	2.0	976	$1,525	$1.56	22d	1	1.40mi
100 Santa Fe Ave Unit 2210 Bismarck, ND	2.0	2.0	1039	$1,595	$1.54	22d	1	1.40mi
100 Santa Fe Ave Unit 5214 Bismarck, ND	2.0	2.0	1206	$1,860	$1.54	22d	1	1.40mi
100 Santa Fe Ave Unit 3111 Bismarck, ND	2.0	2.0	1206	$1,670	$1.38	22d	1	1.45mi
100 Santa Fe Ave Unit 5322 Bismarck, ND	2.0	2.0	1250	$1,890	$1.51	22d	1	1.45mi
2316 E Broadway Ave Bismarck, ND	3.0	1.0	1113	$1,250	$1.12	22d	1	1.48mi

Listing history 50 events

1. 2026-06-21
   days on market $25,000 Active 32 DOM
2. 2026-06-19
   days on market $25,000 Active 30 DOM
3. 2026-06-18
   days on market $25,000 Active 29 DOM
4. 2026-06-17
   days on market $25,000 Active 28 DOM
5. 2026-06-16
   days on market $25,000 Active 27 DOM
6. 2026-06-15
   days on market $25,000 Active 26 DOM
7. 2026-06-14
   days on market $25,000 Active 24 DOM
8. 2026-06-13
   days on market $25,000 Active 23 DOM
9. 2026-06-10
   days on market $25,000 Active 21 DOM
10. 2026-06-09
    days on market $25,000 Active 20 DOM
11. 2026-06-08
    days on market $25,000 Active 19 DOM
12. 2026-06-07
    days on market $25,000 Active 18 DOM
13. 2026-06-05
    days on market $25,000 Active 15 DOM
14. 2026-06-03
    days on market $25,000 Active 14 DOM
15. 2026-06-02
    days on market $25,000 Active 13 DOM
16. 2026-06-01
    days on market $25,000 Active 12 DOM
17. 2026-05-31
    days on market $25,000 Active 11 DOM
18. 2026-05-30
    days on market $25,000 Active 10 DOM
19. 2025-03-16
    historical $1,150
20. 2025-03-11
    listed $1,150
21. 2023-12-14
    historical $1,125
22. 2023-11-17
    listed $1,125
23. 1999-08-27
    soldstatus 255-char remark

    Show marketing remark (255 chars)

    * LT #1607-NEW HT TAPE, NEW DR LOCKS, NEW PAINT INSIDE, NEW PAIN ON SKIRTING & DECK, BATH PAINTED-ROOF COMPLETELY REDONE-10X12 ATTACHED SHED(ENTRY)-SHOWS WELL-NEW CRPT & VNYL-SKYWAY PK 1607-DOGS IN KENNLDO NOT LET OUT-MAY BITE Basement - NONE.

24. 1999-08-18
    soldstatus 132-char remark

    Show marketing remark (132 chars)

    NEW CARPETS-CLEAN- STORM SHELTER-10X10 STOR SHED NEW '98-8X10 ENTRY-GOOD STARTER-NO DISCL OWNER NEVER LIVED IN HOME Basement - NONE.

25. 1999-08-06
    soldstatus
26. 1999-07-03
    listed $10,000
27. 1999-07-01
    soldstatus
28. 1999-06-15
    listed $21,900 255-char remark

    Show marketing remark (255 chars)

    * LT #1607-NEW HT TAPE, NEW DR LOCKS, NEW PAINT INSIDE, NEW PAIN ON SKIRTING & DECK, BATH PAINTED-ROOF COMPLETELY REDONE-10X12 ATTACHED SHED(ENTRY)-SHOWS WELL-NEW CRPT & VNYL-SKYWAY PK 1607-DOGS IN KENNLDO NOT LET OUT-MAY BITE Basement - NONE.

29. 1999-06-03
    listed $6,500
30. 1999-04-28
    soldstatus
31. 1999-04-26
    soldstatus
32. 1999-04-23
    soldstatus
33. 1999-04-19
    soldstatus
34. 1999-04-15
    soldstatus
35. 1999-04-09
    listed $10,200 132-char remark

    Show marketing remark (132 chars)

    NEW CARPETS-CLEAN- STORM SHELTER-10X10 STOR SHED NEW '98-8X10 ENTRY-GOOD STARTER-NO DISCL OWNER NEVER LIVED IN HOME Basement - NONE.

36. 1999-03-20
    listed $10,500
37. 1999-03-12
    soldstatus
38. 1999-02-26
    listed $13,000
39. 1999-02-11
    listed $12,500
40. 1999-02-06
    listed $12,900
41. 1998-12-15
    soldstatus
42. 1998-12-11
    listed $21,000
43. 1998-10-30
    soldstatus
44. 1998-09-28
    soldstatus
45. 1998-07-31
    soldstatus
46. 1998-07-31
    soldstatus
47. 1998-07-16
    listed $9,500
48. 1998-07-16
    listed $5,000
49. 1998-07-09
    soldstatus
50. 1998-07-07
    soldstatus

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (shaded) · 22% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 12 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,626
• − Mortgage interest: −$1,400
• − Property taxes: −$375
• − Insurance: −$125
• − Repairs & maintenance: −$1,490
• − Management: −$1,490
• − Depreciation: −$727
• Taxable income: $13,018
• Est. tax owed @ 24.0%: −$3,124
• After-tax cash flow: $9,517/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: Bismarck 1
• NCES district ID: 3800014
• Math proficiency: 41% ▼ -5.00%
• Reading proficiency: 42% ▼ -6.00%
• Median HH income: $60,649
• Composite: 36.76/100
• National rank: #4577
• State rank: #25 of 53 in ND

Livability — Bismarck

• Score: 79/100
• State rank: #5
• US rank: #2213

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bismarck, ND
• County: Burleigh County · 97,300 people
• City population: 97,300
• Metro: Bismarck, ND
• Population (ZIP): 30,212
• Household income: $85,637
• Rent vs Own: 25.6% rent · 74.4% own
• Severe rent burden: 400.0

Population outlook (Burleigh County) Hauer SSP2

• Today (2025): 119,359 people
• By 2030: 133,047 · +11.5%
• By 2040: 161,545 · +35.3%
• By 2050: 191,960 · +60.8%
• By 2075: 274,569 · +130.0%
• By 2100: 350,910 · +194.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Native American 8% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Portuguese 13% Scotch-Irish 5% Romanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Burleigh

• 2024 margin: Solid R (+43.2) · D 27.5% · R 70.7% · Other 1.8%
• 2008→2024 swing: -19.7pp toward R · 2008: -23.6pp · 2024: -43.2pp
• All cycles: 2024: R+43.2 2020: R+40.2 2016: R+46.1 2012: R+32.1 2008: R+23.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -158.70%
• Current HPI: 210.0651
• Rent YoY: ▲ 2.81%
• Metro: Bismarck, ND
• 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

-93.4% since first listed

104 events — show timeline

• 2025-03-16 Rental Removed $1,150 APPFOLIO
• 2025-03-11 Listed for Rent $1,150 APPFOLIO
• 2023-12-14 Rental Removed $1,125 APPFOLIO
• 2023-11-17 Listed for Rent $1,125 APPFOLIO
• 1999-08-27 Sold (MLS) — GNMLS
• 1999-08-18 Sold (MLS) — GNMLS
• 1999-08-06 Sold (MLS) — GNMLS
• 1999-07-03 Listed $10,000 GNMLS
• 1999-07-01 Sold (MLS) — GNMLS
• 1999-06-15 Listed $21,900 GNMLS
• 1999-06-03 Listed $6,500 GNMLS
• 1999-04-28 Sold (MLS) — GNMLS
• 1999-04-26 Sold (MLS) — GNMLS
• 1999-04-23 Sold (MLS) — GNMLS
• 1999-04-19 Sold (MLS) — GNMLS
• 1999-04-15 Sold (MLS) — GNMLS
• 1999-04-09 Listed $10,200 GNMLS
• 1999-03-20 Listed $10,500 GNMLS
• 1999-03-12 Sold (MLS) — GNMLS
• 1999-02-26 Listed $13,000 GNMLS
• 1999-02-11 Listed $12,500 GNMLS
• 1999-02-06 Listed $12,900 GNMLS
• 1998-12-15 Sold (MLS) — GNMLS
• 1998-12-11 Listed $21,000 GNMLS
• 1998-10-30 Sold (MLS) — GNMLS
• 1998-09-28 Sold (MLS) — GNMLS
• 1998-07-31 Sold (MLS) — GNMLS
• 1998-07-31 Sold (MLS) — GNMLS
• 1998-07-16 Listed $9,500 GNMLS
• 1998-07-16 Listed $5,000 GNMLS
• 1998-07-09 Sold (MLS) — GNMLS
• 1998-07-07 Sold (MLS) — GNMLS
• 1998-07-02 Listed $13,900 GNMLS
• 1998-06-30 Sold (MLS) — GNMLS
• 1998-06-16 Listed $19,000 GNMLS
• 1998-05-17 Listed $17,000 GNMLS
• 1998-05-13 Listed $4,600 GNMLS
• 1998-03-14 Listed $27,400 GNMLS
• 1998-03-14 Listed $8,500 GNMLS
• 1997-12-19 Sold (MLS) — GNMLS
• 1997-11-22 Listed $9,500 GNMLS
• 1997-10-07 Listed $9,500 GNMLS
• 1997-08-14 Sold (MLS) — GNMLS
• 1997-08-13 Sold (MLS) — GNMLS
• 1997-06-05 Sold (MLS) — GNMLS
• 1997-05-30 Sold (MLS) — GNMLS
• 1997-05-14 Sold (MLS) — GNMLS
• 1997-05-07 Listed $22,500 GNMLS
• 1997-04-26 Listed $13,900 GNMLS
• 1997-04-25 Listed $10,000 GNMLS
• 1997-04-25 Listed $33,900 GNMLS
• 1997-04-25 Sold (MLS) — GNMLS
• 1997-04-15 Sold (MLS) — GNMLS
• 1997-03-10 Listed $13,900 GNMLS
• 1997-01-12 Listed $8,500 GNMLS
• 1996-12-10 Listed $7,000 GNMLS
• 1996-09-09 Sold (MLS) — GNMLS
• 1996-08-28 Sold (MLS) — GNMLS
• 1996-08-26 Sold (MLS) — GNMLS
• 1996-08-16 Sold (MLS) — GNMLS
• 1996-08-12 Sold (MLS) — GNMLS
• 1996-07-22 Sold (MLS) — GNMLS
• 1996-07-18 Listed $16,500 GNMLS
• 1996-07-09 Listed $11,500 GNMLS
• 1996-06-28 Sold (MLS) — GNMLS
• 1996-06-21 Sold (MLS) — GNMLS
• 1996-06-10 Listed $11,500 GNMLS
• 1996-06-07 Listed $9,290 GNMLS
• 1996-06-01 Sold (MLS) — GNMLS
• 1996-05-28 Listed $13,500 GNMLS
• 1996-05-28 Sold (MLS) — GNMLS
• 1996-05-25 Listed $11,000 GNMLS
• 1996-05-16 Listed $8,900 GNMLS
• 1996-05-15 Listed $10,900 GNMLS
• 1996-04-25 Listed $22,900 GNMLS
• 1996-04-15 Listed $13,900 GNMLS
• 1996-03-08 Sold (MLS) — GNMLS
• 1996-02-28 Sold (MLS) — GNMLS
• 1996-02-15 Listed $17,900 GNMLS
• 1995-12-16 Listed $25,900 GNMLS
• 1995-09-21 Sold (MLS) — GNMLS
• 1995-08-24 Sold (MLS) — GNMLS
• 1995-08-08 Listed $18,000 GNMLS
• 1995-07-28 Sold (MLS) — GNMLS
• 1995-07-26 Listed $11,500 GNMLS
• 1995-06-19 Sold (MLS) — GNMLS
• 1995-05-12 Listed $10,500 GNMLS
• 1995-04-04 Listed $11,500 GNMLS
• 1995-03-24 Sold (MLS) — GNMLS
• 1995-03-23 Sold (MLS) — GNMLS
• 1995-02-01 Listed $21,500 GNMLS
• 1995-01-28 Listed $9,500 GNMLS
• 1995-01-13 Sold (MLS) — GNMLS
• 1995-01-06 Sold (MLS) — GNMLS
• 1994-12-15 Listed $11,500 GNMLS
• 1994-11-30 Listed $8,900 GNMLS
• 1994-09-23 Sold (MLS) — GNMLS
• 1994-08-03 Listed $12,500 GNMLS
• 1994-04-08 Sold (MLS) — GNMLS
• 1994-04-04 Listed $6,500 GNMLS
• 1993-07-27 Sold (MLS) — GNMLS
• 1993-07-01 Listed $14,500 GNMLS
• 1992-06-15 Sold (MLS) — GNMLS
• 1992-04-06 Listed $17,500 GNMLS