409 Roosevelt Ave · Underwood, ND 58576

$59,000

2 bd · 1.0 ba · 1,008 sqft · SingleFamily · 10 Days on market

Built 1920 Fair condition 6,300 sqft lot Est $69k · 14% 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 +13.8/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +5.4/10.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Key facts

• Metal roofing
• Steel siding
• Main floor laundry

Tags

• CORNER LOT
• METAL ROOFING
• STEEL SIDING
• MAIN FLOOR LAUNDRY

Property features AI

Finance

• Other: Corner, rectangular lot on a public maintained city street (63 x 100)
• Financial info: Annual tax listed

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer; Electricity connected; Natural gas available and connected; Cable available; Phone available; Water connected; Sewer connected
• Home design: Single-family residence; Two levels
• Construction: Metal siding; Steel siding; Block foundation; Metal roof; Built on a partial basement with exterior entry (concrete)
• Exterior features: Rain gutters; Shed(s)

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: 3 total rooms (includes bedrooms and other living spaces)
• Flooring: Vinyl; Carpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Wall/window air conditioning unit(s); No central cooling
• Interior features: High-speed internet
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $319 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($920 rent vs $59k).

Location & tenants

• Location reads 70/100 on livability (#78 in ND) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: amenities F, commute F, health & safety D-.
• Underwood 8 (rural): math 40% / reading 55% proficiency, ranked #63 of 169 in ND (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: 13 active listings in the ZIP; 43 units permitted in McLean County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $923 of equity ($408 loan paydown + $515 appreciation (0.9% local appreciation)).
• McLean County population projected at +48% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (0.9% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

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

Recommended offer $59,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1920 — 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: 1.56% ✓
• Cap rate: 12.78%
• Cash-on-cash: 23.17%
• DSCR: 2.03
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $68,544
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
501 3rd St St	0.14mi	2/1.0	960 (-5%)	9mo	$65,000	$68	78
205 Grant Ave	0.21mi	3/1.0 (+1)	960 (-5%)	21mo	$59,500	$62	60

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

Projected returns pro-forma

0.87% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.1%
• Equity multiple: 2.28×
• Total profit: $21,068
• Equity at exit: $19,754

10-year hold

• IRR: 28.0%
• Equity multiple: 4.34×
• Total profit: $55,194
• Equity at exit: $25,955

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 58576

• Home prices YoY: 0.5%
• Active inventory: 13
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $920 medium
• Mortgage (P&I): −$309
• Tax est. 1.5%: −$74 /mo · $885/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$193
• Net cashflow: $319

Break-even live

Break-even rent $516

Max offer price $59,000

Occupancy floor 60%

Sensitivity live

Price	-10% $360	-5% $339	+0% $319	+5% $299	+10% $278
Rent	-10% $246	-5% $283	+0% $319	+5% $355	+10% $392
Rate	-1.0pp $349	-0.5pp $334	base $319	+0.5pp $304	+1.0pp $288

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 2 events

1. 2026-05-16
   status Pending
2. 2026-05-05
   listed $59,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥96°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,038
• − Mortgage interest: −$3,305
• − Property taxes: −$885
• − Insurance: −$295
• − Repairs & maintenance: −$883
• − Management: −$883
• − Depreciation: −$1,716
• Taxable income: $3,071
• Est. tax owed @ 24.0%: −$737
• After-tax cash flow: $3,090/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.

Condition & rehab AI · 13 photos

Fair 45/100 Moderate rehab

The home requires moderate repairs and updates to improve its condition and value. Painting, flooring replacement, and siding repair are recommended to enhance curb appeal and interior aesthetics.

Repairs flagged

• Moderate Kitchen cabinets — Worn condition
• Moderate Flooring — Dated appearance
• Moderate Exterior siding — Weathered and discolored

Value-add opportunities

• Both Painting and updating flooring — Enhances curb appeal and interior aesthetics
• Both Siding replacement — Improves curb appeal and structural integrity
• Both Kitchen cabinet replacement — Modernizes the kitchen and adds value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Worn condition	Moderate	$3,000–15,000
Flooring · Dated appearance	Moderate	$3,000–15,000
Exterior siding · Weathered and discolored	Moderate	$3,000–15,000
Total estimated repair cost · 3 items		$9,000–45,000

Value-add ROI direction

• Both Painting and updating flooring — Enhances curb appeal and interior aesthetics ↑
• Both Siding replacement — Improves curb appeal and structural integrity ↑
• Both Kitchen cabinet replacement — Modernizes the kitchen and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Underwood 8
• NCES district ID: 3818660
• Math proficiency: 40% ▼ -5.00%
• Reading proficiency: 55% ▼ -10.00%
• Median HH income: $54,442
• Composite: 43.22/100
• National rank: #6568
• State rank: #63 of 169 in ND

Livability — Underwood

• Score: 70/100
• State rank: #78
• US rank: #7630

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Underwood, ND
• Population (ZIP): 1,005

Population outlook (McLean County) Hauer SSP2

• Today (2025): 11,405 people
• By 2030: 12,337 · +8.2%
• By 2040: 14,426 · +26.5%
• By 2050: 16,850 · +47.7%
• By 2075: 24,191 · +112.1%
• By 2100: 30,714 · +169.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 7%
• Common ancestry: Portuguese 15% Scotch-Irish 2% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · German/W. Germanic 1%

Political lean MEDSL · McLean

• 2024 margin: Solid R (+58.1) · D 20.2% · R 78.4% · Other 1.4%
• 2008→2024 swing: -39.1pp toward R · 2008: -19.0pp · 2024: -58.1pp
• All cycles: 2024: R+58.1 2020: R+53.6 2016: R+53.0 2012: R+30.0 2008: R+19.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.87%
• Current HPI: 172.7268
• 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

2 events — show timeline

• 2026-05-16 Pending — GNMLS
• 2026-05-05 Listed $59,000 GNMLS