205 Arnold Ave

Portland, ND 58274

$175,000D

6 bd · 4.0 ba · 2,821 sqft · Built 1995 · SingleFamily · Active · 59 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,379/mo
• Mortgage (P&I): −$918
• Tax + insurance: −$322
• HOA: −$0
• Vac / Maint / Mgmt: −$290
• Net cashflow: $-150/mo
• Annual: $-1,803/yr
• Cap rate: 5.26%
• Cash-on-cash: -3.68%
• DSCR: 0.84
• 1% rule: 0.79%
• Cash to close: $49,000

Investor read

• This is a 6-bed/4.0-bath single-family listed at $175k.
• At list price, monthly cash flow is $-150 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $148k (15.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $138k (21.2% below list).
• It's been on market 59 days — a 3% lower offer ($170k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $138k (21.2% below list) — sets the bar for 1% rule.
• In year one you build about $10k of equity ($1k loan paydown + $9k appreciation (5.2% local appreciation)).
• Location reads 69/100 on livability (#96 in ND) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A-; Watch: health & safety D+, amenities F, commute F.
• May-Port Cg 14 (rural): math 42% / reading 50% proficiency, ranked #19 of 53 in ND (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 20% free/reduced lunch — higher-income household profile.
• Zoned schools: Peter Boe Jr Elementary School (math 52% / reading 57%, grade C, #39 of 236 statewide, top 21%, 262 students, 21% FRL); May-Port Cg Middle School (math 32% / reading 37%, grade F, #24 of 35 statewide, top 71%, 114 students, 18% FRL); May-Port Cg High School (math 24% / reading 64%, grade F, #33 of 144 statewide, top 32%, 132 students, 18% FRL) — zoned schools at 19% FRL track the district average.
• Market conditions: 3 active listings in the ZIP; 8 units permitted in Traill County in 2024 (0 in 5+ unit buildings).
• Traill County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 4, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• 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?
• It's been on market 59 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.