421 Main St W · Beulah, ND 58523

$65,000

3 bd · 1.0 ba · 1,280 sqft · Other · 141 Days on market

Built 1920 6,500 sqft lot ↓ 28% 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
• Livability +3.7/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• Plenty of storage
• Newer furnace
• Newer water heater

Tags

• CORNER LOT
• PRIMARY BEDROOM ON MAIN LEVEL
• GENEROUS SIZED LIVING ROOM
• PLENTY OF STORAGE
• NEWER WATER HEATER
• NEWER FURNACE

Property features AI

Exterior

• Parking: 1-car garage; On-street parking; Off-street parking
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected
• Home design: Single family residence; Two levels; Residential property
• Construction: Metal/steel siding; Concrete perimeter foundation; Built with shingle/asphalt roof
• Exterior features: Full backyard fence; Fenced back yard; Shingle/asphalt roof; Corner lot; Paved city street frontage on a publicly maintained road; Lot approximately 100 x 65 (0.15 acres)

Interior

• Kitchen: Dishwasher; Oven
• Flooring: Vinyl flooring; Carpet flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Wall/window air conditioning unit(s)
• Interior features: Dishwasher; Dryer; Oven; Washer; Basement with concrete floor, unfinished space and bath stubbed; Smoke detector(s)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $65k.

Deal economics

• At list price, monthly cash flow is $527 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $57k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 74/100 on livability (#27 in ND, #4,527 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: schools D+, health & safety D+, amenities F.
• Beulah 27 (town): math 31% / reading 33% proficiency, ranked #37 of 53 in ND (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 17% free/reduced lunch — higher-income household profile.
• Market conditions: 22 active listings in the ZIP; 15 units permitted in Mercer County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Mercer County population projected at +38% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 141 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $57,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 141 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 1920 — 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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.
7. 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.
8. 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: 1.80% ✓
• Cap rate: 16.02%
• Cash-on-cash: 34.74%
• DSCR: 2.55
• GRM: 4.6

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: 30.2%
• Equity multiple: 2.26×
• Total profit: $23,008
• Equity at exit: $9,692

10-year hold

• IRR: 37.5%
• Equity multiple: 4.47×
• Total profit: $63,184
• Equity at exit: $5,620

Cash invested: $18,200 (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 58523

• Home prices YoY: -34.8%
• Active inventory: 22
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,169 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$29 /mo · $345/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $527

Break-even live

Break-even rent $502

Max offer price $65,000

Occupancy floor 50%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $65,000 Active 141 DOM
2. 2026-06-17
   days on market $65,000 Active 140 DOM
3. 2026-06-16
   days on market $65,000 Active 139 DOM
4. 2026-06-15
   days on market $65,000 Active 138 DOM
5. 2026-06-13
   days on market $65,000 Active 136 DOM
6. 2026-06-12
   days on market $65,000 Active 135 DOM
7. 2026-06-09
   days on market $65,000 Active 132 DOM
8. 2026-06-08
   days on market $65,000 Active 131 DOM
9. 2026-06-07
   days on market $65,000 Active 130 DOM
10. 2026-06-05
    days on market $65,000 Active 128 DOM
11. 2026-06-04
    days on market $65,000 Active 126 DOM
12. 2026-06-02
    days on market $65,000 Active 125 DOM
13. 2026-06-01
    days on market $65,000 Active 124 DOM
14. 2026-05-31
    days on market $65,000 Active 123 DOM
15. 2026-05-15
    price $65,000
16. 2026-01-27
    listed $69,000 Active
17. 2026-01-08
    price $69,999
18. 2025-11-18
    price $74,999
19. 2025-10-03
    price $79,000
20. 2025-09-09
    price $89,900

ⓘ 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: $345 · $29/mo
• Projected year-2 tax: $637 · $53/mo
• Expected delta: +$292/yr (+$24/mo · 84.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $14,028
• − Mortgage interest: −$3,641
• − Property taxes: −$345
• − Insurance: −$325
• − Repairs & maintenance: −$1,122
• − Management: −$1,122
• − Depreciation: −$1,891
• Taxable income: $5,582
• Est. tax owed @ 24.0%: −$1,340
• After-tax cash flow: $4,983/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: Beulah 27
• NCES district ID: 3800032
• Math proficiency: 31% ▼ -13.00%
• Reading proficiency: 33% ▼ -6.00%
• Median HH income: $65,415
• Composite: 29.33/100
• National rank: #6547
• State rank: #37 of 53 in ND

Livability — Beulah

• Score: 74/100
• State rank: #27
• US rank: #4527

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Beulah, ND
• City population: 3,277
• Population (ZIP): 3,277

Population outlook (Mercer County) Hauer SSP2

• Today (2025): 9,891 people
• By 2030: 10,506 · +6.2%
• By 2040: 11,872 · +20.0%
• By 2050: 13,612 · +37.6%
• By 2075: 19,871 · +100.9%
• By 2100: 25,938 · +162.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Hispanic / Latino 5% Two or more races 4% Native American 2%
• Common ancestry: Portuguese 12% Scotch-Irish 6% Subsaharan African 3%
• Foreign-born: 3% · Canada, Guatemala
• Languages at home: 93% English-only · German/W. Germanic 3% Spanish 1% Other Indo-European 1%

Political lean MEDSL · Mercer

• 2024 margin: Solid R (+69.0) · D 14.8% · R 83.8% · Other 1.3%
• 2008→2024 swing: -39.2pp toward R · 2008: -29.9pp · 2024: -69.0pp
• All cycles: 2024: R+69.0 2020: R+67.4 2016: R+67.9 2012: R+44.9 2008: R+29.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -86.64%
• Current HPI: 162.0576
• 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

-27.7% since first listed

6 events — show timeline

• 2026-05-15 Price Changed $65,000 GNMLS
• 2026-01-27 Listed $69,000 GNMLS
• 2026-01-08 Price Changed $69,999 GNMLS
• 2025-11-18 Price Changed $74,999 GNMLS
• 2025-10-03 Price Changed $79,000 GNMLS
• 2025-09-09 Price Changed $89,900 GNMLS