1010 University Ave Ave · Grand Forks, ND 58203

$159,900

3 bd · 2.0 ba · 1,061 sqft · SingleFamily public records · 288 Days on market

Built 1894 3,500 sqft lot Est $224k · 29% under ↓ 6% since listing

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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 +20.7/30.0
• ARV discount +15.0/15.0
• DSCR +6.6/10.0
• 1% rule +4.9/10.0
• Rent growth +4.0/5.0
• Livability +3.9/5.0
• Schools +3.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• Backyard patio
• Off street parking
• Fenced yard

Tags

• REMODELED KITCHEN
• FENCED YARD
• ENCLOSED FRONT PORCH
• BACKYARD PATIO
• OFF STREET PARKING
• CLOSE TO DOWNTOWN

Property features AI

Exterior

• Utilities: Public water; Natural gas available
• Home design: Single-family residence; One-and-a-half story
• Construction: Stucco exterior; Brick/mortar foundation
• Exterior features: Patio; Fenced yard with wood fencing

Interior

• Bathrooms: 1 full bathroom; 1 three-quarter bathroom
• Heating & cooling: Forced-air heating; Natural gas available
• Interior features: Total of 10 rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $215 ($3k/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 $158k (1.1% below list).
• Recommended offer: $141k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 2.2% in Grand Forks — 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 78/100 on livability (#8 in ND, #2,645 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, crime D+.
• Grand Forks 1 (urban): math 37% / reading 49% proficiency, ranked #27 of 53 in ND (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Wilder Elementary School (math 27% / reading 37%, grade F, #173 of 236 statewide, top 76%, 177 students, 62% FRL); Valley Middle School (math 22% / reading 40%, grade F, #31 of 35 statewide, top 88%, 513 students, 56% FRL); Central High School (math 29% / reading 56%, grade F, #48 of 144 statewide, top 33%, 1,093 students, 32% FRL) — zoned schools average 50% FRL vs 29% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.0%/yr); 56 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 133 units permitted in Grand Forks County in 2024 (0 in 5+ unit buildings).
• This rent runs 31% 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Grand Forks County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 288 days — a 12% lower offer ($141k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1894 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $140,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 288 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 1894 — 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. 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?
6. Crime grade is D 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?
7. 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.
8. 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.
9. 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: 0.99% ✗
• Cap rate: 7.91%
• Cash-on-cash: 5.77%
• DSCR: 1.26
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $223,871
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
619 3rd Ave S	0.35mi	2/2.0 (-1)	1,040 (-2%)	2mo	$239,900	$231	74
217 Walnut St	0.49mi	4/2.0 (+1)	1,060 (-0%)	5mo	$289,900	$273	68
1602 8th Ave N	0.52mi	3/1.0	1,084 (+2%)	4mo	$215,000	$198	65
715 N 4th St	0.49mi	3/1.0	1,028 (-3%)	5mo	$194,900	$190	64
808 S 12th St	0.62mi	2/2.0 (-1)	1,043 (-2%)	1mo	$85,000	$81	63
1921 4th Ave Ave N	0.64mi	4/2.0 (+1)	1,064 (+0%)	7mo	$309,900	$291	59
513 6th Ave S	0.60mi	3/1.0	1,080 (+2%)	7mo	$169,000	$156	59
810 N 5th Street St	0.51mi	2/1.0 (-1)	1,035 (-2%)	6mo	$134,900	$130	58
515 N 7th St	0.23mi	4/1.5 (+1)	1,212 (+14%)	4mo	$194,900	$161	56
716 6th Ave N	0.23mi	2/1.0 (-1)	902 (-15%)	1mo	$189,999	$211	54
1701 University Ave Ave	0.46mi	2/2.0 (-1)	1,176 (+11%)	6mo	$279,900	$238	51
621 Chestnut St	0.71mi	3/2.0	966 (-9%)	3mo	$285,000	$295	50

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 · 5.95% rent growth · sell at horizon

5-year hold

• IRR: -4.3%
• Equity multiple: 0.84×
• Total profit: $-7,382
• Equity at exit: $23,842

10-year hold

• IRR: 8.4%
• Equity multiple: 1.72×
• Total profit: $32,219
• Equity at exit: $13,825

Cash invested: $44,772 (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 58203

• Rents YoY: 6.0%
• Active inventory: 56
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,581 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$129 /mo · $1,544/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $215

Break-even live

Break-even rent $1,309

Max offer price $159,900

Occupancy floor 81%

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
214 N 4th St Grand Forks, ND	3.0	1.0–2.0	974	$2,345	$2.41	43d	1	0.44mi

Listing history 25 events

1. 2026-06-19
   days on market $159,900 Active 288 DOM
2. 2026-06-18
   days on market $159,900 Active 287 DOM
3. 2026-06-17
   days on market $159,900 Active 286 DOM
4. 2026-06-16
   days on market $159,900 Active 285 DOM
5. 2026-06-15
   days on market $159,900 Active 284 DOM
6. 2026-06-14
   days on market $159,900 Active 282 DOM
7. 2026-06-13
   days on market $159,900 Active 281 DOM
8. 2026-06-10
   days on market $159,900 Active 279 DOM
9. 2026-06-09
   days on market $159,900 Active 278 DOM
10. 2026-06-08
    days on market $159,900 Active 277 DOM
11. 2026-06-07
    days on market $159,900 Active 276 DOM
12. 2026-06-05
    days on market $159,900 Active 273 DOM
13. 2026-06-03
    days on market $159,900 Active 272 DOM
14. 2026-06-02
    days on market $159,900 Active 271 DOM
15. 2026-06-01
    days on market $159,900 Active 270 DOM
16. 2026-05-31
    days on market $159,900 Active 269 DOM
17. 2026-05-30
    days on market $159,900 Active 268 DOM
18. 2026-05-07
    price $159,900
19. 2026-03-02
    price $162,900
20. 2025-10-02
    price $164,900
21. 2025-09-04
    listed $169,900 Active
22. 2011-11-22
    soldstatus
23. 2002-11-04
    soldstatus
24. 2002-05-21
    soldstatus
25. 1998-06-22
    soldstatus

ⓘ 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: $1,544 · $129/mo
• Projected year-2 tax: $1,567 · $131/mo
• Expected delta: +$23/yr (+$2/mo · 1.5%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥96°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,975
• − Mortgage interest: −$8,957
• − Property taxes: −$1,544
• − Insurance: −$800
• − Repairs & maintenance: −$1,518
• − Management: −$1,518
• − Depreciation: −$4,652
• Taxable loss: −$13
• Est. tax savings @ 24.0%: +$3
• After-tax cash flow: $2,587/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: Grand Forks 1
• NCES district ID: 3808130
• Math proficiency: 37% ▼ -8.00%
• Reading proficiency: 49% ▲ 1.00%
• Median HH income: $44,234
• Composite: 36.39/100
• National rank: #4681
• State rank: #27 of 53 in ND

Livability — Grand Forks

• Score: 78/100
• State rank: #8
• US rank: #2645

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Grand Forks, ND
• County: Grand Forks County · 58,851 people
• City population: 58,851
• Metro: Grand Forks, ND-MN
• Population (ZIP): 16,478
• Household income: $60,474
• Rent vs Own: 55.2% rent · 44.8% own
• Severe rent burden: 1031.0

Population outlook (Grand Forks County) Hauer SSP2

• Today (2025): 80,606 people
• By 2030: 86,489 · +7.3%
• By 2040: 99,506 · +23.4%
• By 2050: 115,269 · +43.0%
• By 2075: 171,303 · +112.5%
• By 2100: 238,330 · +195.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 6% Asian 6% Two or more races 6% Native American 3% Black 3%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Portuguese 23% Romanian 4% Lithuanian 2%
• Foreign-born: 10% · Canada, China, South Korea
• Languages at home: 88% English-only · Spanish 3% Other Indo-European 2% Chinese 2%

Political lean MEDSL · Grand Forks

• 2024 margin: R (+18.2) · D 40.1% · R 58.3% · Other 1.6%
• 2008→2024 swing: -23.3pp toward R · 2008: 5.1pp · 2024: -18.2pp
• All cycles: 2024: R+18.2 2020: R+13.3 2016: R+18.5 2012: R+3.5 2008: D+5.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -146.25%
• Current HPI: 183.3667
• Rent YoY: ▲ 5.95%
• Metro: Grand Forks, 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

-5.9% since first listed

8 events — show timeline

• 2026-05-07 Price Changed $159,900 GFAAR
• 2026-03-02 Price Changed $162,900 GFAAR
• 2025-10-02 Price Changed $164,900 GFAAR
• 2025-09-04 Listed $169,900 GFAAR
• 2011-11-22 Sold (Public Records) — Public Records
• 2002-11-04 Sold (Public Records) — Public Records
• 2002-05-21 Sold (Public Records) — Public Records
• 1998-06-22 Sold (Public Records) — Public Records

Property tax history

+4.3%/yr

Latest (2025): $1,544 · -7.5% YoY. Source: county tax records.