111 Grove St N · Hebron, ND 58638

$55,000

3 bd · 2.0 ba · 1,674 sqft · Other · 61 Days on market

Built 1935 7,000 sqft lot

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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
• Appreciation +5.0/10.0
• Schools +4.9/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Owner has placed new carpeting in the home and new kitchen appliances. This home is ready for you move in! Located in Hebron - quick drive to Bismarck or Dickinson.

Key facts

• 7,000 sq ft lot
• Garage
• Built 1935

Property features AI

Finance

• Other:
• Financial info:
• HOA & community:

Exterior

• Parking: 1-car garage
• Security:
• Utilities: Public sewer
• Home design: Single family residence; Residential property type
• Construction:
• Exterior features: Lot approximately 0.16 acres (50 x 140); Low density residential zoning

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Bedrooms:
• Flooring:
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Dishwasher; Microwave; Range; Refrigerator; Partially finished basement; Total of 8 rooms
• Laundry & utility:

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $55k.

Deal economics

• At list price, monthly cash flow is $641 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $52k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#86 in ND) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, health & safety D+, amenities F.
• Hebron 13 (rural): math 55% / reading 55% proficiency, ranked #22 of 169 in ND (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Hebron Elementary School (math 54% / reading 54%, grade C, #39 of 236 statewide, top 21%, 84 students, 33% FRL); Hebron High School (math 54% / reading 44%, grade D, #19 of 144 statewide, top 19%, 73 students, 33% FRL) — zoned schools at 33% FRL track the district average.
• Market conditions: 15 active listings in the ZIP; 94 units permitted in Morton County in 2024 (5 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($380 loan paydown + $2k appreciation (3.0% local appreciation)).
• Morton County population projected at +48% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($52k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y 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.
• Current owner paid $42k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $51,700 (6.0% below list)

Questions for the listing agent

1. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1935 — 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: 2.24% ✓
• Cap rate: 20.29%
• Cash-on-cash: 49.98%
• DSCR: 3.22
• GRM: 3.7

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: 55.1%
• Equity multiple: 4.08×
• Total profit: $47,463
• Equity at exit: $24,730

10-year hold

• IRR: 54.7%
• Equity multiple: 8.25×
• Total profit: $111,709
• Equity at exit: $38,112

Cash invested: $15,400 (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 58638

• Active inventory: 15
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,231 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$19 /mo · $234/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $641

Break-even live

Break-even rent $419

Max offer price $55,000

Occupancy floor 43%

Sensitivity live

Price	-10% $673	-5% $657	+0% $641	+5% $626	+10% $610
Rent	-10% $544	-5% $593	+0% $641	+5% $690	+10% $739
Rate	-1.0pp $669	-0.5pp $655	base $641	+0.5pp $627	+1.0pp $613

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $55,000 Active 61 DOM
2. 2026-06-21
   days on market $55,000 Active 60 DOM
3. 2026-06-18
   days on market $55,000 Active 58 DOM
4. 2026-06-17
   days on market $55,000 Active 57 DOM
5. 2026-06-16
   days on market $55,000 Active 56 DOM
6. 2026-06-15
   days on market $55,000 Active 55 DOM
7. 2026-06-13
   days on market $55,000 Active 53 DOM
8. 2026-06-12
   days on market $55,000 Active 52 DOM
9. 2026-06-09
   days on market $55,000 Active 49 DOM
10. 2026-06-08
    days on market $55,000 Active 48 DOM
11. 2026-06-07
    days on market $55,000 Active 47 DOM
12. 2026-06-05
    days on market $55,000 Active 45 DOM
13. 2026-06-04
    days on market $55,000 Active 43 DOM
14. 2026-06-02
    days on market $55,000 Active 42 DOM
15. 2026-06-01
    days on market $55,000 Active 41 DOM
16. 2026-05-31
    days on market $55,000 Active 40 DOM
17. 2026-04-21
    listed $55,000 Active
18. 2023-09-06
    historical 165-char remark

    Show marketing remark (165 chars)

    Owner has placed new carpeting in the home and new kitchen appliances. This home is ready for you move in! Located in Hebron - quick drive to Bismarck or Dickinson.

19. 2020-08-17
    soldstatus $42,500
20. 2019-11-22
    listed $49,900 165-char remark

    Show marketing remark (165 chars)

    Owner has placed new carpeting in the home and new kitchen appliances. This home is ready for you move in! Located in Hebron - quick drive to Bismarck or Dickinson.

21. 2014-05-06
    soldstatus $50,000
22. 2005-05-02
    soldstatus $8,000

ⓘ 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: $234 · $19/mo
• Projected year-2 tax: $539 · $45/mo
• Expected delta: +$305/yr (+$25/mo · 130.5%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥95°F today · 12 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,768
• − Mortgage interest: −$3,081
• − Property taxes: −$234
• − Insurance: −$275
• − Repairs & maintenance: −$1,181
• − Management: −$1,181
• − Depreciation: −$1,600
• Taxable income: $7,215
• Est. tax owed @ 24.0%: −$1,732
• After-tax cash flow: $5,965/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: Hebron 13
• NCES district ID: 3809180
• Math proficiency: 55% ▬ 0.00%
• Reading proficiency: 55% ▬ 0.00%
• Median HH income: $51,358
• Composite: 48.87/100
• National rank: #4493
• State rank: #22 of 169 in ND

Livability — Hebron

• Score: 70/100
• State rank: #86
• US rank: #7926

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hebron, ND
• Population (ZIP): 949

Population outlook (Morton County) Hauer SSP2

• Today (2025): 36,682 people
• By 2030: 39,967 · +9.0%
• By 2040: 46,921 · +27.9%
• By 2050: 54,157 · +47.6%
• By 2075: 73,661 · +100.8%
• By 2100: 89,885 · +145.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 7% Native American 3% Hispanic / Latino 2%
• Common ancestry: Portuguese 19% Romanian 4% Scotch-Irish 4%
• Foreign-born: 0%

Political lean MEDSL · Morton

• 2024 margin: Solid R (+53.8) · D 22.2% · R 75.9% · Other 1.9%
• 2008→2024 swing: -32.7pp toward R · 2008: -21.0pp · 2024: -53.8pp
• All cycles: 2024: R+53.8 2020: R+50.4 2016: R+53.0 2012: R+31.1 2008: R+21.0

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

+587.5% since first listed

6 events — show timeline

• 2026-04-21 Listed $55,000 Badlands BOR MLS
• 2023-09-06 Delisted — Badlands BOR MLS
• 2020-08-17 Sold (Public Records) $42,500 Public Records
• 2019-11-22 Listed $49,900 Badlands BOR MLS
• 2014-05-06 Sold (Public Records) $50,000 Public Records
• 2005-05-02 Sold (Public Records) $8,000 Public Records

Property tax history

-1.8%/yr

Latest (2025): $234 · -82.2% YoY. Source: county tax records.