106 W Deer St · Mandan, ND 58554

$65,000

3 bd · 2.0 ba · 1,216 sqft · Other · 19 Days on market

Built 2021 Good condition

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Condition / age +3.8/5.0
• Livability +3.5/5.0
• Schools +3.3/10.0
• Appreciation +0.0/10.0

Key facts

• Open-concept design
• Private bathroom
• Functional layout

Tags

• OPEN-CONCEPT DESIGN
• PRIVATE BATHROOM
• GENEROUSLY SIZED YARD
• OVERSIZED DRIVEWAY
• FUNCTIONAL LAYOUT
• ESTABLISHED COMMUNITY

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Manufactured home (single wide); Residential property
• Construction: Vinyl siding
• Exterior features: No notable exterior features listed

Interior

• Kitchen: Dishwasher; Gas range; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating (natural gas)
• Interior features: Dishwasher; Gas range; Refrigerator

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $65k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $525 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $64k (1.5% below list) — sets the bar for market timing.
• Cap rate 16.0% vs local median 2.7% in Mandan — 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 70/100 on livability (#76 in ND) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A; Watch: crime C-, amenities F, commute F.
• Mandan 1 (suburban): math 35% / reading 38% proficiency, ranked #32 of 53 in ND (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mandan Middle School (math 36% / reading 40%, grade F, #21 of 35 statewide, top 59%, 928 students, 30% FRL); Mandan High School (math 18% / reading 42%, grade F, #90 of 144 statewide, top 66%, 1,138 students, 25% FRL) — zoned schools at 28% FRL track the district average.
• Market conditions: Rents rising fast (+14.0%/yr); 306 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 94 units permitted in Morton County in 2024 (5 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Morton County population projected at +48% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $18k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($64k) is reasonable based on typical stale-listing flexibility.

Recommended offer $64,025 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.90% ✓
• Cap rate: 15.99%
• Cash-on-cash: 34.65%
• DSCR: 2.54
• GRM: 4.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 35.7%
• Equity multiple: 2.62×
• Total profit: $29,474
• Equity at exit: $9,692

10-year hold

• IRR: 45.0%
• Equity multiple: 6.41×
• Total profit: $98,512
• Equity at exit: $5,620

Cash invested: $18,200 (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 58554

• Rents YoY: 14.0%
• Active inventory: 306
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,234 medium
• Mortgage (P&I): −$341
• Tax est. 1.5%: −$81 /mo · $975/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $525

Break-even live

Break-even rent $569

Max offer price $65,000

Occupancy floor 52%

Sensitivity live

Price	-10% $570	-5% $548	+0% $525	+5% $503	+10% $481
Rent	-10% $428	-5% $477	+0% $525	+5% $574	+10% $623
Rate	-1.0pp $558	-0.5pp $542	base $525	+0.5pp $509	+1.0pp $491

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
100 1st St NW Mandan, ND	1.0–2.0	1.0	887	$1,150	$1.30	22d	11	0.61mi
611 9th Ave SW Mandan, ND	2.0	1.0	942	$1,125	$1.19	22d	1	0.65mi
406 4th St NW Mandan, ND	3.0	1.5	1208	$1,200	$0.99	22d	1	0.82mi
1504 Shannon Dr NE Mandan, ND	2.0	1.0	1000	$1,000	$1.00	22d	1	1.36mi

Listing history 14 events

1. 2026-06-21
   days on market $65,000 Active 19 DOM
2. 2026-06-19
   days on market $65,000 Active 17 DOM
3. 2026-06-18
   days on market $65,000 Active 16 DOM
4. 2026-06-17
   days on market $65,000 Active 15 DOM
5. 2026-06-16
   days on market $65,000 Active 14 DOM
6. 2026-06-15
   days on market $65,000 Active 13 DOM
7. 2026-06-14
   days on market $65,000 Active 11 DOM
8. 2026-06-13
   days on market $65,000 Active 10 DOM
9. 2026-06-10
   days on market $65,000 Active 8 DOM
10. 2026-06-09
    days on market $65,000 Active 7 DOM
11. 2026-06-08
    days on market $65,000 Active 6 DOM
12. 2026-06-07
    days on market $65,000 Active 5 DOM
13. 2026-06-05
    days on market $65,000 Active 2 DOM
14. 2026-06-03
    listed $65,000 Active 1 DOM

ⓘ 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 1/10 Low FEMA zone X (shaded) · 0% 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 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,805
• − Mortgage interest: −$3,641
• − Property taxes: −$975
• − Insurance: −$325
• − Repairs & maintenance: −$1,184
• − Management: −$1,184
• − Depreciation: −$1,891
• Taxable income: $5,604
• Est. tax owed @ 24.0%: −$1,345
• After-tax cash flow: $4,961/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This mobile home is in good condition with modern appliances and hardwood flooring. It has potential for increased value with minor updates to the interior and exterior.

Value-add opportunities

• Both paint interior walls — fresh paint enhances curb appeal and interior aesthetics
• Both replace shower curtain — new shower curtain improves bathroom appearance
• Both update flooring — new flooring can significantly increase both resale and rental value

Renovation cost estimate screening

Value-add ROI direction

• Both paint interior walls — fresh paint enhances curb appeal and interior aesthetics ↑
• Both replace shower curtain — new shower curtain improves bathroom appearance ↑
• Both update flooring — new flooring can significantly increase both resale and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Mandan 1
• NCES district ID: 3811820
• Math proficiency: 35% ▼ -11.00%
• Reading proficiency: 38% ▼ -5.00%
• Median HH income: $60,131
• Composite: 32.55/100
• National rank: #5692
• State rank: #32 of 53 in ND

Livability — Mandan

• Score: 70/100
• State rank: #76
• US rank: #7567

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mandan, ND
• County: Morton County · 29,479 people
• City population: 29,479
• Metro: Bismarck, ND
• Population (ZIP): 29,479
• Household income: $80,120
• Rent vs Own: 27.2% rent · 72.8% own
• Severe rent burden: 915.0

Population outlook (Morton County) Hauer SSP2

• Today (2025): 36,682 people
• By 2030: 39,967 · +9.0%
• By 2040: 46,921 · +27.9%
• By 2050: 54,157 · +47.6%
• By 2075: 73,661 · +100.8%
• By 2100: 89,885 · +145.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 5% Native American 4% Two or more races 4% Black 2%
• Common ancestry: Portuguese 14% Scotch-Irish 4% Iranian 2%
• Foreign-born: 1% · Canada
• Languages at home: 95% English-only · Spanish 3% German/W. Germanic 1%

Political lean MEDSL · Morton

• 2024 margin: Solid R (+53.8) · D 22.2% · R 75.9% · Other 1.9%
• 2008→2024 swing: -32.7pp toward R · 2008: -21.0pp · 2024: -53.8pp
• All cycles: 2024: R+53.8 2020: R+50.4 2016: R+53.0 2012: R+31.1 2008: R+21.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -161.81%
• Current HPI: 137.8984
• Rent YoY: ▲ 14.00%
• 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

1 event — show timeline

• 2026-06-02 Listed $65,000 GNMLS