512 Adams Ave · Hettinger, ND 58639

$145,000

3 bd · 1.5 ba · 2,852 sqft · Other · 4 Days on market

Built 1947 6,000 sqft lot

---

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 +16.7/30.0
• ARV discount +7.5/15.0
• DSCR +5.2/10.0
• Appreciation +5.0/10.0
• 1% rule +3.6/10.0
• Schools +3.5/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• Access to parks
• Next to post office
• Functional layout

Tags

• NEXT TO POST OFFICE
• NEXT TO LIBRARY
• ACCESS TO PARKS
• ACCESS TO DOWNTOWN AMENITIES
• FUNCTIONAL LAYOUT
• GENEROUS CABINET SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath other listed at $145k.

Deal economics

• At list price, monthly cash flow is $90 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $124k (14.2% below list).
• Recommended offer: $124k (14.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 69/100 on livability (#94 in ND) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+; Watch: employment D+, health & safety D+, amenities F.
• Hettinger 13 (rural): math 30% / reading 45% proficiency, ranked #118 of 169 in ND (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 17% free/reduced lunch — higher-income household profile.
• Market conditions: 20 active listings in the ZIP.

Forward outlook

• In year one you build about $5k of equity ($1k loan paydown + $4k appreciation (3.0% local appreciation)).
• Adams County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $41k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $124,423 (14.2% below list)

Questions for the listing agent

1. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.86% ✗
• Cap rate: 7.04%
• Cash-on-cash: 2.67%
• DSCR: 1.12
• GRM: 9.7

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: 10.0%
• Equity multiple: 1.57×
• Total profit: $23,178
• Equity at exit: $65,198

10-year hold

• IRR: 12.3%
• Equity multiple: 2.83×
• Total profit: $74,396
• Equity at exit: $100,478

Cash invested: $40,600 (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 58639

• Active inventory: 20
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,244 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$72 /mo · $860/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $90

Break-even live

Break-even rent $1,130

Max offer price $145,000

Occupancy floor 88%

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-04-12
   status Pending
2. 2026-02-18
   listed $145,000 Active

ⓘ 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: $860 · $72/mo
• Projected year-2 tax: $1,421 · $118/mo
• Expected delta: +$560/yr (+$47/mo · 65.1%)

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

Taxation est. · year 1

• Rental income: $14,931
• − Mortgage interest: −$8,122
• − Property taxes: −$860
• − Insurance: −$725
• − Repairs & maintenance: −$1,194
• − Management: −$1,194
• − Depreciation: −$4,218
• Taxable loss: −$1,384
• Est. tax savings @ 24.0%: +$332
• After-tax cash flow: $1,417/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: Hettinger 13
• NCES district ID: 3809410
• Math proficiency: 30% ▼ -10.00%
• Reading proficiency: 45% ▼ -10.00%
• Median HH income: $46,531
• Composite: 34.59/100
• National rank: #10096
• State rank: #118 of 169 in ND

Livability — Hettinger

• Score: 69/100
• State rank: #94
• US rank: #8171

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hettinger, ND
• Population (ZIP): 1,715

Population outlook (Adams County) Hauer SSP2

• Today (2025): 2,371 people
• By 2030: 2,359 · -0.5%
• By 2040: 2,320 · -2.2%
• By 2050: 2,278 · -3.9%
• By 2075: 2,328 · -1.8%
• By 2100: 2,230 · -5.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 10% Hispanic / Latino 6% Native American 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Portuguese 19% Romanian 3% Serbian 2%
• Foreign-born: 3% · Canada
• Languages at home: 92% English-only · Spanish 5% German/W. Germanic 1%

Political lean MEDSL · Adams

• 2024 margin: Solid R (+62.7) · D 18.1% · R 80.8% · Other 1.2%
• 2008→2024 swing: -35.0pp toward R · 2008: -27.8pp · 2024: -62.7pp
• All cycles: 2024: R+62.7 2020: R+57.0 2016: R+57.0 2012: R+45.9 2008: R+27.8

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

2 events — show timeline

• 2026-04-12 Pending — Badlands BOR MLS
• 2026-02-18 Listed $145,000 Badlands BOR MLS

Property tax history

+4.4%/yr

Latest (2025): $860 · -1.0% YoY. Source: county tax records.