212 Pierce St · Noonan, ND 58765

$24,000

1 bd · 1.0 ba · 702 sqft · Other public records · 150 Days on market

Built 1930 9,107 sqft lot ↓ 35% since listing

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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
• Appreciation +5.0/10.0
• Schools +3.4/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• Newer shingled roof
• Main floor laundry
• Fuse box electrical

Tags

• NEWER PROPANE FURNACE
• FUSE BOX ELECTRICAL
• MAIN FLOOR LAUNDRY
• NEWER SHINGLED ROOF
• NEWER METAL ROOF

Property features AI

Exterior

• Parking: Attached garage with garage door opener; Driveway and additional off-street parking; garage faces front; on-site parking
• Utilities: Public water; Public sewer; Electricity connected; Propane available/used; Phone and cable available
• Home design: Single-family residence; One story
• Construction: Wood siding and Masonite exterior; Block foundation; Shingle and metal roof; Built on a full concrete basement with interior entry, storage space and sump pump
• Exterior features: Rain gutters; Private yard; Fenced yard with wood and wire perimeter fencing and gate; Level, landscaped, wooded lot (approx. 66' x 150'); Gravel road frontage on a public, city-maintained street

Interior

• Kitchen: Oven; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Wall furnace; Forced air heating; Propane heating; No central air
• Interior features: Walk-in closet(s); Window treatments

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath other listed at $24k.

Deal economics

• At list price, monthly cash flow is $533 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($920 rent vs $24k).
• Recommended offer: $21k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 57/100 on livability (#308 in ND) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: employment D, health & safety D, schools F.
• Divide County 1 (rural): math 30% / reading 43% proficiency, ranked #121 of 169 in ND (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 8 active listings in the ZIP.

Forward outlook

• In year one you build about $886 of equity ($166 loan paydown + $720 appreciation (3.0% local appreciation)).
• Divide County population projected at +85% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 150 days — a 12% lower offer ($21k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $20k (46%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $21,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 150 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 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 3.83% ✓
• Cap rate: 32.93%
• Cash-on-cash: 95.15%
• DSCR: 5.23
• GRM: 2.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 99.4%
• Equity multiple: 6.49×
• Total profit: $36,859
• Equity at exit: $10,791

10-year hold

• IRR: 99.0%
• Equity multiple: 13.46×
• Total profit: $83,701
• Equity at exit: $16,631

Cash invested: $6,720 (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 58765

• Active inventory: 8
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $920 medium
• Mortgage (P&I): −$126
• Tax from tax record: −$58 /mo · $701/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$193
• Net cashflow: $533

Break-even live

Break-even rent $246

Max offer price $24,000

Occupancy floor 37%

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: $6,000
• Closing costs: $720
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $24,000 Active 150 DOM
2. 2026-06-17
   days on market $24,000 Active 149 DOM
3. 2026-06-16
   days on market $24,000 Active 148 DOM
4. 2026-06-15
   days on market $24,000 Active 147 DOM
5. 2026-06-13
   days on market $24,000 Active 145 DOM
6. 2026-06-12
   pricedays on market $24,000 Active 144 DOM
7. 2026-06-09
   days on market $29,000 Active 141 DOM
8. 2026-06-08
   days on market $29,000 Active 140 DOM
9. 2026-06-07
   days on market $29,000 Active 139 DOM
10. 2026-06-05
    days on market $29,000 Active 137 DOM
11. 2026-06-04
    days on market $29,000 Active 135 DOM
12. 2026-06-02
    days on market $29,000 Active 134 DOM
13. 2026-06-01
    days on market $29,000 Active 133 DOM
14. 2026-05-31
    days on market $29,000 Active 132 DOM
15. 2026-05-19
    price $29,000
16. 2026-05-05
    status Active
17. 2026-05-02
    status Pending
18. 2026-03-15
    price $34,500
19. 2026-01-16
    listed $44,500 Active

ⓘ 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: $701 · $58/mo
• Projected year-2 tax: $701 · $58/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 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥93°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 8 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,044
• − Mortgage interest: −$1,344
• − Property taxes: −$701
• − Insurance: −$120
• − Repairs & maintenance: −$884
• − Management: −$884
• − Depreciation: −$698
• Taxable income: $6,414
• Est. tax owed @ 24.0%: −$1,539
• After-tax cash flow: $4,855/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: Divide County 1
• NCES district ID: 3805160
• Math proficiency: 30% ▼ -4.00%
• Reading proficiency: 43% ▼ -4.00%
• Median HH income: $52,720
• Composite: 34.4/100
• National rank: #10182
• State rank: #121 of 169 in ND

Livability — Noonan

• Score: 57/100
• State rank: #308
• US rank: #22022

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Noonan, ND
• Population (ZIP): 305

Population outlook (Divide County) Hauer SSP2

• Today (2025): 3,235 people
• By 2030: 3,697 · +14.3%
• By 2040: 4,763 · +47.2%
• By 2050: 5,975 · +84.7%
• By 2075: 9,534 · +194.7%
• By 2100: 12,784 · +295.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 10%
• Common ancestry: Portuguese 42% English 4% Italian 3%
• Foreign-born: 6% · Canada
• Languages at home: 99% English-only · Other Asian/Pacific 1%

Political lean MEDSL · Divide

• 2024 margin: Solid R (+55.4) · D 21.2% · R 76.5% · Other 2.3%
• 2008→2024 swing: -40.7pp toward R · 2008: -14.7pp · 2024: -55.4pp
• All cycles: 2024: R+55.4 2020: R+53.2 2016: R+52.0 2012: R+30.3 2008: R+14.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

-34.8% since first listed

5 events — show timeline

• 2026-05-19 Price Changed $29,000 GNMLS
• 2026-05-05 Relisted — GNMLS
• 2026-05-02 Pending — GNMLS
• 2026-03-15 Price Changed $34,500 GNMLS
• 2026-01-16 Listed $44,500 GNMLS

Property tax history

+6.5%/yr

Latest (2025): $701 · +660.1% YoY. Source: county tax records.