113 3rd St S · Ellendale, ND 58436

$59,000

2 bd · 1.0 ba · 992 sqft · SingleFamily · 33 Days on market

Built 1960 2,614 sqft lot Est $113k · 48% under

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +5.0/10.0
• Schools +4.8/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• 2,614 sq ft lot
• Garage
• Built 1960

Property features AI

Finance

• Other: Lot is private (approximately 0.06 acres)

Exterior

• Parking: 1-car garage; Driveway with concrete surface
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Propane available; Electricity connected; Cable available and connected; Phone available and connected; Water and sewer connected/available
• Home design: Single-family residence; One story; Residential property
• Construction: Block and fiber cement construction; Block foundation; Asphalt roof; Built on one level
• Exterior features: Rain gutters; Private yard; Private entrance; Asphalt road frontage (city street); Publicly maintained road

Interior

• Kitchen: Range; Refrigerator; Dishwasher not listed
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Wall/window air conditioning unit(s); Baseboard heating; Electric heating; Forced air; Propane heating
• Interior features: Dryer; Range; Refrigerator; Washer; Crawl space basement; Carpet and laminate flooring
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $59k.

Deal economics

• At list price, monthly cash flow is $318 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($899 rent vs $59k).
• Recommended offer: $57k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#79 in ND) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Ellendale 40 (rural): math 55% / reading 55% proficiency, ranked #26 of 169 in ND (top 15%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 4 active listings in the ZIP; 3 units permitted in Dickey County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($408 loan paydown + $2k appreciation (3.0% local appreciation)).
• At projected returns (3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $32k; list at $59k implies a 82% gain — meaningful room to come down on a strong offer.

Recommended offer $57,230 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — 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: 1.52% ✓
• Cap rate: 12.76%
• Cash-on-cash: 23.09%
• DSCR: 2.03
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $113,088
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
416 1st St S	0.23mi	2/1.0	1,009 (+2%)	2mo	$114,900	$114	85

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

Projected returns pro-forma

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

5-year hold

• IRR: 29.3%
• Equity multiple: 2.66×
• Total profit: $27,358
• Equity at exit: $26,529

10-year hold

• IRR: 29.7%
• Equity multiple: 5.18×
• Total profit: $69,032
• Equity at exit: $40,884

Cash invested: $16,520 (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 58436

• Active inventory: 4
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $899 medium
• Mortgage (P&I): −$309
• Tax from tax record: −$59 /mo · $703/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$189
• Net cashflow: $318

Break-even live

Break-even rent $497

Max offer price $59,000

Occupancy floor 60%

Sensitivity live

Price	-10% $351	-5% $335	+0% $318	+5% $301	+10% $284
Rent	-10% $247	-5% $282	+0% $318	+5% $353	+10% $389
Rate	-1.0pp $348	-0.5pp $333	base $318	+0.5pp $303	+1.0pp $287

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-10
   status Pending
2. 2026-04-15
   historical Active Under Contract
3. 2026-04-07
   listed $59,000 Active
4. 2022-09-14
   soldstatus $32,500

ⓘ 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: $703 · $59/mo
• Projected year-2 tax: $703 · $59/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $10,791
• − Mortgage interest: −$3,305
• − Property taxes: −$703
• − Insurance: −$295
• − Repairs & maintenance: −$863
• − Management: −$863
• − Depreciation: −$1,716
• Taxable income: $3,046
• Est. tax owed @ 24.0%: −$731
• After-tax cash flow: $3,084/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: Ellendale 40
• NCES district ID: 3806090
• Math proficiency: 55% ▬ 0.00%
• Reading proficiency: 55% ▼ -5.00%
• Median HH income: $43,008
• Composite: 48.08/100
• National rank: #4763
• State rank: #26 of 169 in ND

Livability — Ellendale

• Score: 70/100
• State rank: #79
• US rank: #7668

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ellendale, ND
• Population (ZIP): 1,665

Population outlook (Dickey County) Hauer SSP2

• Today (2025): 5,012 people
• By 2030: 4,927 · -1.7%
• By 2040: 4,851 · -3.2%
• By 2050: 4,924 · -1.8%
• By 2075: 5,832 · +16.4%
• By 2100: 7,513 · +49.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 2% Asian 2%
• Common ancestry: Portuguese 13% Scottish 4% Scotch-Irish 3%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · German/W. Germanic 1% Spanish 1% French/Haitian/Cajun 0%

Political lean MEDSL · Dickey

• 2024 margin: Solid R (+52.2) · D 22.9% · R 75.1% · Other 2.0%
• 2008→2024 swing: -33.9pp toward R · 2008: -18.4pp · 2024: -52.2pp
• All cycles: 2024: R+52.2 2020: R+46.8 2016: R+46.6 2012: R+29.9 2008: R+18.4

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

+81.5% since first listed

4 events — show timeline

• 2026-05-10 Pending — GNMLS
• 2026-04-15 Contingent — GNMLS
• 2026-04-07 Listed $59,000 GNMLS
• 2022-09-14 Sold (Public Records) $32,500 Public Records

Property tax history

+5.0%/yr

Latest (2024): $703 · +28.6% YoY. Source: county tax records.