377 1st Ave SW · Dickinson, ND 58601

$140,000

4 bd · 2.0 ba · 1,586 sqft · Other · 322 Days on market

Built 1930 7,050 sqft lot

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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).

• Cash flow +26.0/30.0
• DSCR +8.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• Livability +3.8/5.0
• Schools +3.5/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Very well maintained older home, nice kitchen with all appliances included. Great beginners home, neat yard.

Key facts

• Wood floors
• Bonus room
• Eat-in kitchen

Tags

• BONUS ROOM
• EAT-IN KITCHEN
• WOOD FLOORS
• LARGE SHED
• OUTDOOR SPACE
• MATURE TREES

Property features AI

Exterior

• Utilities: Public sewer
• Home design: Single-family residence; Residential property; Zoned RMD
• Construction: Block foundation; Finished block and concrete basement
• Exterior features: Public sewer

Interior

• Kitchen: Range; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Has cooling
• Interior features: Eat-in kitchen; Window coverings
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $140k.

Deal economics

• At list price, monthly cash flow is $349 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.3% vs local median 2.9% in Dickinson — 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 76/100 on livability (#12 in ND, #3,334 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Dickinson 1 (town): math 35% / reading 43% proficiency, ranked #29 of 53 in ND (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.9%/yr); 235 active listings in the ZIP; solid renter incomes; 20 units permitted in Stark County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Stark County population projected at +120% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 322 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 9y 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.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $123,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 322 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. 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 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?
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: 1.17% ✓
• Cap rate: 9.28%
• Cash-on-cash: 10.67%
• DSCR: 1.47
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.95% rent growth · sell at horizon

5-year hold

• IRR: -1.5%
• Equity multiple: 0.94×
• Total profit: $-2,181
• Equity at exit: $20,874

10-year hold

• IRR: 7.1%
• Equity multiple: 1.51×
• Total profit: $19,861
• Equity at exit: $12,105

Cash invested: $39,200 (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 58601

• Rents YoY: 1.9%
• Active inventory: 235
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,637 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$152 /mo · $1,825/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$344
• Net cashflow: $349

Break-even live

Break-even rent $1,196

Max offer price $140,000

Occupancy floor 74%

Sensitivity live

Price	-10% $428	-5% $388	+0% $349	+5% $309	+10% $269
Rent	-10% $219	-5% $284	+0% $349	+5% $413	+10% $478
Rate	-1.0pp $419	-0.5pp $384	base $349	+0.5pp $312	+1.0pp $275

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-19
   days on market $140,000 Active 322 DOM
2. 2026-06-18
   days on market $140,000 Active 321 DOM
3. 2026-06-17
   days on market $140,000 Active 320 DOM
4. 2026-06-16
   days on market $140,000 Active 319 DOM
5. 2026-06-15
   days on market $140,000 Active 318 DOM
6. 2026-06-14
   days on market $140,000 Active 316 DOM
7. 2026-06-12
   days on market $140,000 Active 315 DOM
8. 2026-06-09
   days on market $140,000 Active 312 DOM
9. 2026-06-08
   days on market $140,000 Active 311 DOM
10. 2026-06-07
    days on market $140,000 Active 310 DOM
11. 2026-06-05
    days on market $140,000 Active 307 DOM
12. 2026-06-03
    days on market $140,000 Active 306 DOM
13. 2026-06-02
    days on market $140,000 Active 305 DOM
14. 2026-06-01
    days on market $140,000 Active 304 DOM
15. 2026-05-31
    days on market $140,000 Active 303 DOM
16. 2026-05-30
    days on market $140,000 Active 302 DOM
17. 2026-03-31
    status Active
18. 2026-02-26
    historical Active Under Contract
19. 2026-01-27
    price $140,000
20. 2025-12-04
    status Active
21. 2025-08-11
    historical Active Under Contract
22. 2025-07-17
    listed $145,000 Active
23. 2023-09-06
    historical 108-char remark

    Show marketing remark (108 chars)

    Very well maintained older home, nice kitchen with all appliances included. Great beginners home, neat yard.

24. 2017-05-18
    soldstatus
25. 2017-04-06
    listed $114,900 108-char remark

    Show marketing remark (108 chars)

    Very well maintained older home, nice kitchen with all appliances included. Great beginners home, neat yard.

ⓘ 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: $1,825 · $152/mo
• Projected year-2 tax: $1,825 · $152/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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥94°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,644
• − Mortgage interest: −$7,842
• − Property taxes: −$1,825
• − Insurance: −$700
• − Repairs & maintenance: −$1,572
• − Management: −$1,572
• − Depreciation: −$4,073
• Taxable income: $2,061
• Est. tax owed @ 24.0%: −$495
• After-tax cash flow: $3,689/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: Dickinson 1
• NCES district ID: 3800038
• Math proficiency: 35% ▼ -12.00%
• Reading proficiency: 43% ▼ -7.00%
• Median HH income: $63,270
• Composite: 34.9/100
• National rank: #5080
• State rank: #29 of 53 in ND

Livability — Dickinson

• Score: 76/100
• State rank: #12
• US rank: #3334

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dickinson, ND
• County: Stark County · 29,916 people
• City population: 29,916
• Metro: Dickinson, ND
• Population (ZIP): 29,916
• Household income: $85,821
• Rent vs Own: 35.4% rent · 64.6% own
• Severe rent burden: 813.0

Population outlook (Stark County) Hauer SSP2

• Today (2025): 50,426 people
• By 2030: 60,812 · +20.6%
• By 2040: 84,155 · +66.9%
• By 2050: 110,718 · +119.6%
• By 2075: 186,710 · +270.3%
• By 2100: 264,902 · +425.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 7% Two or more races 5% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 9% Scotch-Irish 2% Lithuanian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 92% English-only · Spanish 4% German/W. Germanic 1% Arabic 1%

Political lean MEDSL · Stark

• 2024 margin: Solid R (+65.6) · D 16.5% · R 82.1% · Other 1.5%
• 2008→2024 swing: -36.5pp toward R · 2008: -29.1pp · 2024: -65.6pp
• All cycles: 2024: R+65.6 2020: R+63.9 2016: R+65.8 2012: R+49.4 2008: R+29.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -133.57%
• Current HPI: 188.1029
• Rent YoY: ▲ 1.95%
• Metro: Dickinson, ND
• 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

+21.8% since first listed

9 events — show timeline

• 2026-03-31 Relisted — Badlands BOR MLS
• 2026-02-26 Contingent — Badlands BOR MLS
• 2026-01-27 Price Changed $140,000 Badlands BOR MLS
• 2025-12-04 Relisted — Badlands BOR MLS
• 2025-08-11 Contingent — Badlands BOR MLS
• 2025-07-17 Listed $145,000 Badlands BOR MLS
• 2023-09-06 Delisted — Badlands BOR MLS
• 2017-05-18 Sold (Public Records) — Public Records
• 2017-04-06 Listed $114,900 Badlands BOR MLS

Property tax history

+27.7%/yr

Latest (2025): $1,825 · +36.8% YoY. Source: county tax records.