812 1/2 7th St

Langdon, ND 58249

$79,000C+

2 bd · 1.0 ba · 864 sqft · Built 1959 · SingleFamily · Pending · 29 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $847/mo
• Mortgage (P&I): −$414
• Tax + insurance: −$132
• HOA: −$0
• Vac / Maint / Mgmt: −$178
• Net cashflow: $123/mo
• Annual: $1,473/yr
• Cap rate: 8.16%
• Cash-on-cash: 6.66%
• DSCR: 1.30
• 1% rule: 1.07%
• Cash to close: $22,120

Investor read

• This is a 2-bed/1.0-bath single-family listed at $79k. Condition is rated good.
• At list price, monthly cash flow is $123 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($847 rent vs $79k).
• It's been on market 29 days — a 2% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $78k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $546 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#42 in ND) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety D+, amenities F, commute F.
• Langdon Area 23 (rural): math 38% / reading 51% proficiency, ranked #83 of 169 in ND (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Langdon Area Elementary School (math 52% / reading 57%, grade C, #39 of 236 statewide, top 21%, 239 students, 23% FRL); Langdon Area High School (math 27% / reading 47%, grade F, #71 of 144 statewide, top 52%, 176 students, 19% FRL) — zoned schools at 21% FRL track the district average.
• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 16 active listings in the ZIP; 2 units permitted in Cavalier County in 2024 (0 in 5+ unit buildings).

Questions for listing agent

• Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.