1106 18th St S · Moorhead, MN 56560

$250,000

8 bd · 4.0 ba · 3,672 sqft · MultiFamily · 42 Days on market

Built 1961 8,276 sqft lot $68/sqft · at area comps Est $258k · at est.

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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 +8.9/15.0
• Livability +3.9/5.0
• Schools +3.7/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Motivated seller! Updated, fully rented 4-plex close to MSUM, shopping and all amenities with great rental history! All units have 2 bedrooms, 1 full bath, kitchen, dining area and a living room. Wall AC units in both upper-level units. Each unit has its own storage closet on the upper level, and has its own parking spot in the back. Plenty of street parking on both sides of the streets right in front.2 coin-operated washers and 2 dryers are included! Currently 1 of each are plugged in and function well. If ever go out simply plug in another set!3 units updated within the last 3 years; 1 unit updated in 2018. Brand new electrical panels up to current code requirement. Agent related to seller. 24 hour notice to tenants required so contact your favorite realtor for a showing now!, Unit 1 Total Baths: 1, Unit 2 Total Baths: 1, Unit 3 Total Baths: 1, Unit 4 Total Baths: 1, Total Parking Spaces: 4, Income/Expenses: (Total Income: 28469.00, Management: 1800.00, Utilities: 6726.00, Maintenance: 5000.00, Wages: 0.00), Unit 2 Kitchen: 1, Unit 3 Kitchen: 1, Unit 4 Kitchen: 1, Unit 1 Kitchen: 1

Key facts

• Shared laundry
• Full kitchen
• 8,276 sq ft lot

Tags

• HIGH-DEMAND RENTAL LOCATION
• SHARED LAUNDRY
• FULL KITCHEN
• COMFORTABLE LIVING ROOM

Property features AI

Finance

• Other: Lot approximately 0.19 acres (dimensions ~70x120); Public maintained road access; Owner-occupied: No; Living area reported as approximately 3,672
• Financial info: Property is a 4-unit residential income building; Gross income reported; Net operating income reported; Insurance expense reported; Tenant(s) pay electricity; Rental license: Standard
• HOA & community: Association provides laundry

Exterior

• Parking: Parking lot
• Utilities: City water (connected); City sewer (in street); Natural gas
• Home design: Residential income property; Split entry (bi-level) layout; Facing direction not specified; Entry level not specified
• Construction: Frame construction; Asphalt roof; Poured concrete foundation; Original foundation dimensions approximately 33x52; Building area total approximately 3,672
• Exterior features: Metal exterior accents

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Total of 8 bedrooms (across units)
• Bathrooms: Each unit includes 1 full bathroom
• Heating & cooling: Boiler heating; Wall cooling units in individual units
• Interior features: Finished basement
• Laundry & utility: Laundry available (association amenity)

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $340/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $250k).
• Recommended offer: $242k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.8% vs local median 3.7% in Moorhead — 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 77/100 on livability (#143 in MN, #3,111 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A-; Watch: crime C-, amenities F, commute F.
• Moorhead Public School District (suburban): math 39% / reading 46% proficiency, ranked #202 of 301 in MN (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.4%/yr); 390 active listings in the ZIP; solid renter incomes; 269 units permitted in Clay County in 2024 (153 in 5+ unit buildings).
• At $3,941/mo this rent would consume 63% of the median local household income ($75k/yr) (locally 2229% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• Clay County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 1.4% rent growth), your $70k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 7y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $242,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.58% ✓
• Cap rate: 12.81%
• Cash-on-cash: 23.28%
• DSCR: 2.04
• GRM: 5.3

CMA / ARV

• ARV (median comp): $257,831
• List price: $250,000
• Delta: -3.04%
• Verdict: FAIR
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.41% rent growth · sell at horizon

5-year hold

• IRR: 14.5%
• Equity multiple: 1.57×
• Total profit: $39,852
• Equity at exit: $37,276

10-year hold

• IRR: 22.0%
• Equity multiple: 2.74×
• Total profit: $121,720
• Equity at exit: $21,615

Cash invested: $70,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 46 Balanced
• State Minnesota: 46 Balanced · D+2
• County: — inherits STATE
• City: — inherits STATE

2024 reforms strengthened tenant protections; ramsey/hennepin courts paced moderate to slow.

Methodology + full state rankings →

ZIP-level market 56560

• Rents YoY: 1.4%
• Active inventory: 390
• Price-to-rent: 21.1×

Monthly cashflow live

• Estimated rent: $3,941 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$340 /mo · $4,082/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$828
• Net cashflow: $1,358

Break-even live

Break-even rent $2,222

Max offer price $250,000

Occupancy floor 61%

Sensitivity live

Price	-10% $1,500	-5% $1,429	+0% $1,358	+5% $1,287	+10% $1,217
Rent	-10% $1,047	-5% $1,202	+0% $1,358	+5% $1,514	+10% $1,669
Rate	-1.0pp $1,484	-0.5pp $1,422	base $1,358	+0.5pp $1,293	+1.0pp $1,227

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$3,940
Total (4 units)			$3,941

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-13
   statusdays on market $250,000 Pending 42 DOM
2. 2026-06-10
   days on market $250,000 Contingent - Inspection 41 DOM
3. 2026-06-09
   days on market $250,000 Contingent - Inspection 40 DOM
4. 2026-06-08
   days on market $250,000 Contingent - Inspection 39 DOM
5. 2026-06-07
   days on market $250,000 Contingent - Inspection 38 DOM
6. 2026-06-05
   days on market $250,000 Contingent - Inspection 35 DOM
7. 2026-06-03
   days on market $250,000 Contingent - Inspection 34 DOM
8. 2026-06-02
   statusdays on market $250,000 Contingent - Inspection 33 DOM
9. 2026-06-01
   days on market $250,000 Active 32 DOM
10. 2026-05-31
    days on market $250,000 Active 31 DOM
11. 2026-05-30
    days on market $250,000 Active 30 DOM
12. 2026-04-30
    listed $250,000 Active 352-char remark
13. 2025-10-30
    historical
14. 2025-09-21
    price $264,900
15. 2025-09-05
    price $269,900
16. 2025-07-10
    listed $275,000 Active
17. 2023-08-18
    soldstatus $252,000

    Show marketing remark (1100 chars)

    Motivated seller! Updated, fully rented 4-plex close to MSUM, shopping and all amenities with great rental history! All units have 2 bedrooms, 1 full bath, kitchen, dining area and a living room. Wall AC units in both upper-level units. Each unit has its own storage closet on the upper level, and has its own parking spot in the back. Plenty of street parking on both sides of the streets right in front.2 coin-operated washers and 2 dryers are included! Currently 1 of each are plugged in and function well. If ever go out simply plug in another set!3 units updated within the last 3 years; 1 unit updated in 2018. Brand new electrical panels up to current code requirement. Agent related to seller. 24 hour notice to tenants required so contact your favorite realtor for a showing now!, Unit 1 Total Baths: 1, Unit 2 Total Baths: 1, Unit 3 Total Baths: 1, Unit 4 Total Baths: 1, Total Parking Spaces: 4, Income/Expenses: (Total Income: 28469.00, Management: 1800.00, Utilities: 6726.00, Maintenance: 5000.00, Wages: 0.00), Unit 2 Kitchen: 1, Unit 3 Kitchen: 1, Unit 4 Kitchen: 1, Unit 1 Kitchen: 1

18. 2023-03-30
    listed $260,000

    Show marketing remark (1100 chars)

    Motivated seller! Updated, fully rented 4-plex close to MSUM, shopping and all amenities with great rental history! All units have 2 bedrooms, 1 full bath, kitchen, dining area and a living room. Wall AC units in both upper-level units. Each unit has its own storage closet on the upper level, and has its own parking spot in the back. Plenty of street parking on both sides of the streets right in front.2 coin-operated washers and 2 dryers are included! Currently 1 of each are plugged in and function well. If ever go out simply plug in another set!3 units updated within the last 3 years; 1 unit updated in 2018. Brand new electrical panels up to current code requirement. Agent related to seller. 24 hour notice to tenants required so contact your favorite realtor for a showing now!, Unit 1 Total Baths: 1, Unit 2 Total Baths: 1, Unit 3 Total Baths: 1, Unit 4 Total Baths: 1, Total Parking Spaces: 4, Income/Expenses: (Total Income: 28469.00, Management: 1800.00, Utilities: 6726.00, Maintenance: 5000.00, Wages: 0.00), Unit 2 Kitchen: 1, Unit 3 Kitchen: 1, Unit 4 Kitchen: 1, Unit 1 Kitchen: 1

19. 2022-11-17
    historical
20. 2021-04-30
    soldstatus $262,000
21. 2020-01-20
    listed $269,900
22. 2019-03-05
    soldstatus $225,000
23. 2019-02-05
    listed $224,900
24. 2017-08-07
    soldstatus $200,000
25. 2014-03-19
    soldstatus $200,000

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

Tax reassessment forecast MN · Partial reset (capped growth)

• Current annual tax: $4,082 · $340/mo
• Projected year-2 tax: $4,082 · $340/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 (unshaded) · 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: $47,292
• − Mortgage interest: −$14,004
• − Property taxes: −$4,082
• − Insurance: −$1,250
• − Repairs & maintenance: −$3,783
• − Management: −$3,783
• − Depreciation: −$7,273
• Taxable income: $13,117
• Est. tax owed @ 24.0%: −$3,148
• After-tax cash flow: $13,148/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: Moorhead Public School District
• NCES district ID: 2721420
• Math proficiency: 39% ▼ -8.00%
• Reading proficiency: 46% ▼ -6.00%
• Median HH income: $53,009
• Composite: 36.83/100
• National rank: #4560
• State rank: #202 of 301 in MN

Livability — Moorhead

• Score: 77/100
• State rank: #143
• US rank: #3111

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Moorhead, MN
• County: Clay County · 44,405 people
• City population: 44,405
• Metro: Fargo, ND-MN
• Population (ZIP): 44,405
• Household income: $75,406
• Rent vs Own: 41.0% rent · 59.0% own
• Severe rent burden: 2229.0

Population outlook (Clay County) Hauer SSP2

• Today (2025): 67,880 people
• By 2030: 70,881 · +4.4%
• By 2040: 76,865 · +13.2%
• By 2050: 83,205 · +22.6%
• By 2075: 98,719 · +45.4%
• By 2100: 111,657 · +64.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Black 6% Two or more races 6% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 26% Lithuanian 3% Scottish 3%
• Foreign-born: 6% · Canada, Vietnam
• Languages at home: 91% English-only · Spanish 2% Other Indo-European 2% Arabic 1%

Political lean MEDSL · Clay

• 2024 margin: Toss-up / Even · D 49.2% · R 48.8% · Other 2.0%
• 2008→2024 swing: -15.5pp toward R · 2008: 16.0pp · 2024: 0.5pp
• All cycles: 2024: D+0.5 2020: D+4.1 2016: R+2.0 2012: D+8.0 2008: D+16.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -108.32%
• Current HPI: 177.038
• Rent YoY: ▲ 1.41%
• Metro: Fargo, ND-MN
• State GDP YoY: ▲ 2.41%
• F500 in state: 34

Industry mix (Fortune 500 HQ in MN)

Industry	F500 HQs	Revenue
▸Healthcare	2	$407B
▸Retail	2	$150B
▸Consumer Goods	2	$32B
▸Industrial Machinery	2	$6B
▸Agriculture	1	$40B
▸Healthcare / Medical Devices	1	$32B

Price history

+25.0% since first listed

16 events — show timeline

• 2026-06-11 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-06-01 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-30 Listed $250,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-30 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-21 Price Changed $264,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-05 Price Changed $269,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-07-10 Listed $275,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-08-18 Sold (MLS) $252,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-03-30 Listed $260,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-11-17 Rental Removed — RENT.
• 2021-04-30 Sold (MLS) $262,000 NORTHSTARMLS as Distributed by MLS Grid
• 2020-01-20 Listed $269,900 NORTHSTARMLS as Distributed by MLS Grid
• 2019-03-05 Sold (MLS) $225,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-02-05 Listed $224,900 NORTHSTARMLS as Distributed by MLS Grid
• 2017-08-07 Sold (Public Records) $200,000 Public Records
• 2014-03-19 Sold (Public Records) $200,000 Public Records

Property tax history

+3.0%/yr

Latest (2026): $4,082 · +1.2% YoY. Source: county tax records.