209 Roosevelt Ave · Underwood, ND 58576

$149,900

3 bd · 2.0 ba · 1,848 sqft · SingleFamily · 10 Days on market

Built 1975 Good condition 7,000 sqft lot Est $188k · 20% 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).

• ARV discount +15.0/15.0
• Cash flow +10.3/30.0
• Appreciation +5.4/10.0
• Schools +4.3/10.0
• Condition / age +3.8/5.0
• Livability +3.5/5.0
• 1% rule +3.1/10.0
• DSCR +3.0/10.0
• Rent growth +2.5/5.0

Key facts

• Attached garage
• Storage shed
• Main floor living

Tags

• MAIN FLOOR LIVING
• FENCED BACKYARD
• ATTACHED GARAGE
• STORAGE SHED
• PARTIALLY FINISHED BASEMENT

Property features AI

Finance

• Other: Rectangular lot on a public maintained, paved asphalt city street (approx. 50 x 140, 0.16 acres)

Exterior

• Parking: Garage with 1 parking space; Garage door opener; Off-street parking; garage faces front
• Utilities: Public water; Public sewer; Natural gas available and connected; Electricity connected; Cable available; Phone available; Water connected; Sewer connected
• Home design: Single family residence; One and one-half to two levels
• Construction: Masonite exterior; Shingle (asphalt) roof; Block foundation; Built with above- and below-grade finished areas
• Exterior features: Rain gutters; Chain link fenced backyard; Shed

Interior

• Kitchen: Electric range; Dishwasher; Refrigerator; Disposal; Exhaust fan
• Bedrooms: Total of 4 rooms (bedrooms not specifically enumerated by level)
• Flooring: Vinyl; Carpet; Concrete
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air; Forced air heating (natural gas); Exhaust fan
• Interior features: High speed internet; Window treatments; Full basement with interior entry, partially finished space and storage
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $150k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-81 ($-978/yr) — negative.
• To cash-flow at today's rent, offer at most $138k (7.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $121k (19.4% below list).
• Recommended offer: $121k (19.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 70/100 on livability (#78 in ND) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: amenities F, commute F, health & safety D-.
• Underwood 8 (rural): math 40% / reading 55% proficiency, ranked #63 of 169 in ND (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 16% free/reduced lunch — higher-income household profile.
• Zoned schools: Underwood Elementary School (math 47% / reading 47%, grade D-, #91 of 236 statewide, top 42%, 121 students, 22% FRL); Underwood High School (math 24% / reading 34%, grade F, #99 of 144 statewide, top 71%, 98 students, 22% FRL).
• Market conditions: 13 active listings in the ZIP; 43 units permitted in McLean County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($1k loan paydown + $1k appreciation (0.9% local appreciation)).
• McLean County population projected at +48% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $120,814 (19.4% below list)

Questions for the listing agent

1. 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?
2. Built in 1975 — 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. 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.
5. 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.
6. 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: 0.81% ✗
• Cap rate: 5.64%
• Cash-on-cash: -2.33%
• DSCR: 0.90
• GRM: 10.3

CMA / ARV

• ARV (on-the-fly): $188,496
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
209 Roosevelt Ave	0.00mi	3/2.0	1,848 (0%)	1mo	$149,900	$81	100
308 Grant Ave	0.13mi	3/2.0	1,720 (-7%)	20mo	$69,900	$41	66
408 Roosevelt Ave	0.14mi	3/1.5	1,956 (+6%)	21mo	$200,000	$102	64
501 Main St	0.17mi	4/2.0 (+1)	1,657 (-10%)	21mo	$179,900	$109	52

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

Projected returns pro-forma

0.87% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -1.6%
• Equity multiple: 0.92×
• Total profit: $-3,294
• Equity at exit: $50,189

10-year hold

• IRR: 3.5%
• Equity multiple: 1.42×
• Total profit: $17,539
• Equity at exit: $65,943

Cash invested: $41,972 (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 58576

• Home prices YoY: 0.5%
• Active inventory: 13
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,208 medium
• Mortgage (P&I): −$786
• Tax est. 1.5%: −$187 /mo · $2,248/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $-81

Break-even live

Break-even rent $1,311

Max offer price $138,108

Occupancy floor —

Sensitivity live

Price	-10% $22	-5% $-30	+0% $-81	+5% $-133	+10% $-185
Rent	-10% $-177	-5% $-129	+0% $-81	+5% $-34	+10% $14
Rate	-1.0pp $-6	-0.5pp $-43	base $-81	+0.5pp $-120	+1.0pp $-160

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-15
   status Pending
2. 2026-05-06
   listed $149,900 Active

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥96°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,498
• − Mortgage interest: −$8,397
• − Property taxes: −$2,248
• − Insurance: −$750
• − Repairs & maintenance: −$1,160
• − Management: −$1,160
• − Depreciation: −$4,361
• Taxable loss: −$3,577
• Est. tax savings @ 24.0%: +$859
• After-tax cash flow: $-119/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 · 13 photos

Good 75/100 Cosmetic rehab

This single-family home is in good condition with modern updates and a good curb appeal. It's a great candidate for a cosmetic rehab to enhance its resale value.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and resale value
• Resale Replace old appliances — Modernizes kitchen and appeals to buyers
• Both Update lighting fixtures — Improves ambiance and resale value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and resale value ↑
• Resale Replace old appliances — Modernizes kitchen and appeals to buyers ↑
• Both Update lighting fixtures — Improves ambiance and resale 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: Underwood 8
• NCES district ID: 3818660
• Math proficiency: 40% ▼ -5.00%
• Reading proficiency: 55% ▼ -10.00%
• Median HH income: $54,442
• Composite: 43.22/100
• National rank: #6568
• State rank: #63 of 169 in ND

Livability — Underwood

• Score: 70/100
• State rank: #78
• US rank: #7630

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Underwood, ND
• Population (ZIP): 1,005

Population outlook (McLean County) Hauer SSP2

• Today (2025): 11,405 people
• By 2030: 12,337 · +8.2%
• By 2040: 14,426 · +26.5%
• By 2050: 16,850 · +47.7%
• By 2075: 24,191 · +112.1%
• By 2100: 30,714 · +169.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 7%
• Common ancestry: Portuguese 15% Scotch-Irish 2% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · German/W. Germanic 1%

Political lean MEDSL · McLean

• 2024 margin: Solid R (+58.1) · D 20.2% · R 78.4% · Other 1.4%
• 2008→2024 swing: -39.1pp toward R · 2008: -19.0pp · 2024: -58.1pp
• All cycles: 2024: R+58.1 2020: R+53.6 2016: R+53.0 2012: R+30.0 2008: R+19.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.87%
• Current HPI: 172.7268
• Rent YoY: —
• Metro: —
• 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

2 events — show timeline

• 2026-05-15 Pending — GNMLS
• 2026-05-06 Listed $149,900 GNMLS