609 10th St N · Fargo, ND 58102

$149,900

3 bd · 1.0 ba · 1,209 sqft · SingleFamily public records · 31 Days on market

Built 1917 4,312 sqft lot

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Why this score? — see what drove the D 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 +11.1/30.0
• ARV discount +7.5/15.0
• 1% rule +4.3/10.0
• Livability +4.2/5.0
• Rent growth +3.7/5.0
• Schools +3.6/10.0
• DSCR +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

1 1/2 story with walkout balcony. Many cabinets and screened in front porch.

Key facts

• Great location
• Corner lot
• 4,312 sq ft lot

Tags

• CORNER LOT
• GREAT LOCATION
• EASY ACCESS TO SHOPPING
• EASY ACCESS TO DINING
• EASY ACCESS TO LOCAL AMENITIES

Property features AI

Exterior

• Parking: No dedicated parking
• Utilities: City water connected; City sewer connected; Other fuel source
• Home design: Residential property; One and one-half levels; Main entry on the main level
• Construction: Poured concrete foundation; Asphalt roof
• Exterior features: Stucco exterior

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 3 bedrooms (all on the upper level)
• Bathrooms: 1 full bathroom (upper level)
• Heating & cooling: Hot Water heating; Window Unit(s) for cooling
• Interior features: Range; Refrigerator; Hot Water heating; Window air conditioning units; Basement (other features)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $-62 ($-738/yr) — negative.
• To cash-flow at today's rent, offer at most $139k (7.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $140k (6.8% below list).
• Recommended offer: $139k (7.3% below list) — sets the bar for cash-flow.
• Cap rate 5.8% vs local median 2.5% in Fargo — 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 85/100 on livability (#1 in ND, #605 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F.
• Fargo 1 (urban): math 41% / reading 44% proficiency, ranked #28 of 53 in ND (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Horace Mann Roosevelt Elementary School (math 37% / reading 37%, grade F, #152 of 236 statewide, top 68%, 368 students, 53% FRL); Ben Franklin Middle School (math 52% / reading 47%, grade C, #6 of 35 statewide, top 18%, 883 students, 32% FRL); North High School (math 45% / reading 63%, grade C-, #13 of 144 statewide, top 8%, 1,083 students, 26% FRL).
• Market conditions: Rents rising fast (+4.7%/yr); 205 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 1,218 units permitted in Cass County in 2024 (410 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Cass County population projected at +69% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y 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: property tax is 2.5% of price; built in 1917 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $139,031 (7.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
3. Built in 1917 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.93% ✗
• Cap rate: 5.80%
• Cash-on-cash: -1.76%
• DSCR: 0.92
• GRM: 8.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.71% rent growth · sell at horizon

5-year hold

• IRR: -17.0%
• Equity multiple: 0.39×
• Total profit: $-25,664
• Equity at exit: $22,351

10-year hold

• IRR: -5.6%
• Equity multiple: 0.60×
• Total profit: $-16,596
• Equity at exit: $12,961

Cash invested: $41,972 (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 58102

• Rents YoY: 4.7%
• Active inventory: 205
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,397 high
• Mortgage (P&I): −$786
• Tax from tax record: −$317 /mo · $3,801/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$293
• Net cashflow: $-62

Break-even live

Break-even rent $1,475

Max offer price $139,031

Occupancy floor 99%

Sensitivity live

Price	-10% $23	-5% $-19	+0% $-62	+5% $-104	+10% $-146
Rent	-10% $-172	-5% $-117	+0% $-62	+5% $-6	+10% $49
Rate	-1.0pp $14	-0.5pp $-23	base $-62	+0.5pp $-100	+1.0pp $-140

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
303 11th St N Fargo, ND	2.0	1.0–2.0	813	$1,600	$1.97	15d	14	0.21mi
312 11th St N Fargo, ND	2.0	1.0–2.0	874	$1,575	$1.80	15d	17	0.23mi
1321 5th Ave N Fargo, ND	2.0	1.0	880	$998	$1.13	15d	3	0.23mi
909 12th St N Unit 2 Fargo, ND	2.0	1.0	762	$1,000	$1.31	23d	1	0.25mi
408 Roberts St N Fargo, ND	2.0	2.0	1000	$1,445	$1.45	23d	1	0.29mi
823 10th Ave N Fargo, ND	2.0	1.0	562	$1,100	$1.96	15d	1	0.29mi
1005 12th St N Fargo, ND	2.0	2.0	1224	$1,645	$1.34	23d	1	0.31mi
408 Broadway N Unit 6 Fargo, ND	2.0	1.0	850	$895	$1.05	23d	1	0.34mi
405 Broadway N Fargo, ND	3.0	1.0–2.0	973	$2,250	$2.31	15d	24	0.36mi
899 Barrett St Apt 104 Fargo, ND	2.0	2.0	1311	$1,425	$1.09	15d	1	0.41mi
624 2nd Ave N Fargo, ND	3.0	1.0–2.0	914	$2,025	$2.22	15d	32	0.44mi
21 8th St N Fargo, ND	4.0	1.0–3.0	949	$1,441	$1.52	15d	6	0.44mi
630 1st Ave N Fargo, ND	1.0–4.0	1.0–2.0	1098	$1,450	$1.32	15d	6	0.49mi
727 1/2 3rd St N Fargo, ND	2.0	1.0	800	$1,050	$1.31	23d	1	0.53mi
902 15th St N Unit 4/5 Fargo, ND	3.0	2.0	1200	$995	$0.83	23d	1	0.56mi
419 3rd St N Fargo, ND	1.0–3.0	1.0–2.0	1023	$2,600	$2.54	15d	21	0.57mi
1210 11th St N Fargo, ND	2.0	2.0	1150	$1,500	$1.30	23d	1	0.57mi
23 N Broadway Dr Unit 306 Fargo, ND	3.0	1.0	1100	$1,560	$1.42	23d	1	0.59mi
23 N Broadway Dr Unit 406 Fargo, ND	3.0	2.0	1225	$1,700	$1.39	15d	1	0.59mi
23 Broadway N Fargo, ND	1.0–3.0	1.0–2.0	912	$1,700	$1.86	23d	5	0.59mi
1226 10th St N Unit 2 Fargo, ND	2.0	1.0	900	$850	$0.94	15d	1	0.62mi
1209 Broadway N Unit 3 Fargo, ND	2.0	1.0	1000	$895	$0.90	15d	1	0.63mi
904 16th St N Unit 12 Fargo, ND	2.0	1.0	700	$760	$1.09	15d	1	0.64mi
620 Main Ave Fargo, ND	1.0–2.0	1.0	697	$955	$1.37	15d	5	0.65mi
1510 11th Ave N Unit 2 Fargo, ND	2.0	1.0	900	$775	$0.86	15d	1	0.65mi
1010 16th St N Unit 1010-15 Fargo, ND	2.0	1.0	711	$775	$1.09	23d	1	0.66mi
1515 11th Ave N Fargo, ND	4.0	1.0–4.0	862	$2,136	$2.48	15d	18	0.66mi
102 9th St S Apt 10 Fargo, ND	2.0	1.0	950	$975	$1.03	15d	1	0.67mi
705 13th Ave N Fargo, ND	2.0	2.0	1083	$1,800	$1.66	15d	1	0.75mi
1125 17th St N Unit 1125-2 Fargo, ND	2.0	1.0	1345	$850	$0.63	23d	1	0.78mi
1142 17th St N Fargo, ND	2.0	2.0	1009	$1,320	$1.31	23d	1	0.83mi
315 7th St S Fargo, ND	2.0	1.0	950	$875	$0.92	15d	2	0.86mi
1900 Dakota Dr N Fargo, ND	3.0–4.0	2.0–3.0	1324	$1,425	$1.08	15d	7	0.88mi
1920 Dakota Dr N Fargo, ND	2.0–3.0	1.0–2.0	842	$1,730	$2.05	15d	6	0.94mi
1951 Dakota Dr N Fargo, ND	2.0–3.0	2.0	1051	$1,395	$1.33	15d	5	0.98mi
344 6th Ave S Unit 2 Fargo, ND	2.0	1.0	877	$875	$1.00	23d	1	1.13mi
1601 N University Dr Fargo, ND	2.0–4.0	2.0–4.0	1075	$792	$0.74	23d	1	1.21mi
337 10th Ave S Fargo, ND	3.0	1.0	979	$1,235	$1.26	23d	1	1.32mi
1020 5th St S Unit 4 Fargo, ND	2.0	1.0	800	$825	$1.03	23d	1	1.37mi
1114 University Dr S Unit 3 Fargo, ND	2.0	1.0	727	$850	$1.17	15d	1	1.38mi

Listing history 20 events

1. 2026-06-15
   status $149,900 Pending 31 DOM
2. 2026-06-15
   days on market $149,900 Active 31 DOM
3. 2026-06-14
   days on market $149,900 Active 29 DOM
4. 2026-06-13
   days on market $149,900 Active 28 DOM
5. 2026-06-10
   days on market $149,900 Active 26 DOM
6. 2026-06-09
   days on market $149,900 Active 25 DOM
7. 2026-06-08
   days on market $149,900 Active 24 DOM
8. 2026-06-07
   days on market $149,900 Active 23 DOM
9. 2026-06-02
   days on market $149,900 Active 18 DOM
10. 2026-06-01
    days on market $149,900 Active 17 DOM
11. 2026-05-31
    days on market $149,900 Active 16 DOM
12. 2026-05-30
    days on market $149,900 Active 15 DOM
13. 2026-05-15
    listed $149,900 Active
14. 2026-01-20
    historical
15. 2026-01-20
    listed
16. 2024-01-04
    soldstatus $172,000
17. 2022-10-20
    soldstatus $380,000
18. 2017-01-18
    soldstatus $70,000
19. 2017-01-17
    soldstatus $70,000 76-char remark

    Show marketing remark (76 chars)

    1 1/2 story with walkout balcony. Many cabinets and screened in front porch.

20. 2016-10-17
    listed $112,900 76-char remark

    Show marketing remark (76 chars)

    1 1/2 story with walkout balcony. Many cabinets and screened in front porch.

ⓘ 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: $3,801 · $317/mo
• Projected year-2 tax: $3,801 · $317/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 3/10 Moderate FEMA zone X (shaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 12 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,766
• − Mortgage interest: −$8,397
• − Property taxes: −$3,801
• − Insurance: −$750
• − Repairs & maintenance: −$1,341
• − Management: −$1,341
• − Depreciation: −$4,361
• Taxable loss: −$3,224
• Est. tax savings @ 24.0%: +$774
• After-tax cash flow: $36/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: Fargo 1
• NCES district ID: 3806780
• Math proficiency: 41% ▼ -7.00%
• Reading proficiency: 44% ▼ -7.00%
• Median HH income: $46,524
• Composite: 36.23/100
• National rank: #4721
• State rank: #28 of 53 in ND

Livability — Fargo

• Score: 85/100
• State rank: #1
• US rank: #605

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fargo, ND
• County: Cass County · 177,143 people
• City population: 130,876
• Metro: Fargo, ND-MN
• Population (ZIP): 32,912
• Household income: $59,533
• Rent vs Own: 53.8% rent · 46.2% own
• Severe rent burden: 1919.0

Population outlook (Cass County) Hauer SSP2

• Today (2025): 223,771 people
• By 2030: 251,835 · +12.5%
• By 2040: 311,816 · +39.3%
• By 2050: 378,694 · +69.2%
• By 2075: 571,386 · +155.3%
• By 2100: 769,727 · +244.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 5% Two or more races 5% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Portuguese 27% Romanian 3% Scottish 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 92% English-only · Spanish 3% Other Indo-European 2%

Political lean MEDSL · Cass

• 2024 margin: Lean R (+8.4) · D 44.9% · R 53.3% · Other 1.9%
• 2008→2024 swing: -15.5pp toward R · 2008: 7.1pp · 2024: -8.4pp
• All cycles: 2024: R+8.4 2020: R+2.7 2016: R+10.7 2012: R+3.0 2008: D+7.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -171.16%
• Current HPI: 155.885
• Rent YoY: ▲ 4.71%
• Metro: Fargo, ND-MN
• 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

+32.8% since first listed

8 events — show timeline

• 2026-05-15 Listed $149,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-20 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-20 Listed — NORTHSTARMLS as Distributed by MLS Grid
• 2024-01-04 Sold (Public Records) $172,000 Public Records
• 2022-10-20 Sold (Public Records) $380,000 Public Records
• 2017-01-18 Sold (Public Records) $70,000 Public Records
• 2017-01-17 Sold (MLS) $70,000 NORTHSTARMLS as Distributed by MLS Grid
• 2016-10-17 Listed $112,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+11.2%/yr

Latest (2025): $3,801 · +7.3% YoY. Source: county tax records.