616 1st Ave NE · Streeter, ND 58483

$149,000

3 bd · 1.0 ba · 1,276 sqft · Other · 49 Days on market

Built 1920 1.29 ac 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 +12.7/30.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• DSCR +3.8/10.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• 1.29 acre lot
• 4 garage spots
• Built 1920

Property features AI

Exterior

• Parking: Oversized 4-car garage
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected; Cable connected; Phone connected
• Home design: Single-family residence; Two levels; Residential property
• Construction: Metal siding; Asphalt roof; Block foundation; Built with outbuilding
• Exterior features: Private yard; Patio with screened area; Outbuilding

Interior

• Kitchen: Oven; Refrigerator
• Flooring: Carpet; Hardwood; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air; Ceiling fans; Electric heating; Oil heating
• Interior features: High speed internet; Unfinished concrete basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $149k.

Deal economics

• At list price, monthly cash flow is $-15 ($-183/yr) — negative.
• To cash-flow at today's rent, offer at most $146k (1.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $113k (24.2% below list).
• Recommended offer: $113k (24.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#207 in ND) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing B+; Watch: crime D+, schools F, amenities F.
• Gackle-Streeter 56 (rural): math 20% / reading 50% proficiency, ranked #133 of 169 in ND (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 5 active listings in the ZIP; 19 units permitted in Stutsman County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($1k loan paydown + $4k appreciation (3.0% local appreciation)).
• Stutsman County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $113,015 (24.2% 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 49 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is D 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: 0.76% ✗
• Cap rate: 6.17%
• Cash-on-cash: -0.44%
• DSCR: 0.98
• GRM: 11.0

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: 7.1%
• Equity multiple: 1.41×
• Total profit: $16,921
• Equity at exit: $66,997

10-year hold

• IRR: 9.8%
• Equity multiple: 2.48×
• Total profit: $61,540
• Equity at exit: $103,250

Cash invested: $41,720 (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 58483

• Active inventory: 5
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $1,130 medium
• Mortgage (P&I): −$781
• Tax from tax record: −$65 /mo · $775/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$237
• Net cashflow: $-15

Break-even live

Break-even rent $1,149

Max offer price $146,307

Occupancy floor 96%

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $149,000 Active 49 DOM
2. 2026-06-18
   days on market $149,000 Active 48 DOM
3. 2026-06-17
   days on market $149,000 Active 47 DOM
4. 2026-06-16
   days on market $149,000 Active 46 DOM
5. 2026-06-15
   days on market $149,000 Active 45 DOM
6. 2026-06-14
   days on market $149,000 Active 43 DOM
7. 2026-06-12
   days on market $149,000 Active 42 DOM
8. 2026-06-09
   days on market $149,000 Active 39 DOM
9. 2026-06-08
   days on market $149,000 Active 38 DOM
10. 2026-06-07
    days on market $149,000 Active 37 DOM
11. 2026-06-05
    days on market $149,000 Active 35 DOM
12. 2026-06-04
    days on market $149,000 Active 33 DOM
13. 2026-06-02
    days on market $149,000 Active 32 DOM
14. 2026-06-01
    days on market $149,000 Active 31 DOM
15. 2026-05-31
    days on market $149,000 Active 30 DOM
16. 2026-05-31
    days on market $149,000 Active 29 DOM
17. 2026-05-01
    listed $149,000 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: $775 · $65/mo
• Projected year-2 tax: $1,460 · $122/mo
• Expected delta: +$685/yr (+$57/mo · 88.3%)

ⓘ 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 2/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥96°F today · 12 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,562
• − Mortgage interest: −$8,346
• − Property taxes: −$775
• − Insurance: −$745
• − Repairs & maintenance: −$1,085
• − Management: −$1,085
• − Depreciation: −$4,335
• Taxable loss: −$2,809
• Est. tax savings @ 24.0%: +$674
• After-tax cash flow: $491/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: Gackle-Streeter 56
• NCES district ID: 3800043
• Math proficiency: 20% ▬ 0.00%
• Reading proficiency: 50% ▲ 10.00%
• Median HH income: $45,655
• Composite: 32.51/100
• National rank: #10834
• State rank: #133 of 169 in ND

Livability — Streeter

• Score: 64/100
• State rank: #207
• US rank: #14350

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Streeter, ND
• Population (ZIP): 338

Population outlook (Stutsman County) Hauer SSP2

• Today (2025): 21,104 people
• By 2030: 21,292 · +0.9%
• By 2040: 21,485 · +1.8%
• By 2050: 21,960 · +4.1%
• By 2075: 25,753 · +22.0%
• By 2100: 29,779 · +41.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 6% Two or more races 4%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Scotch-Irish 23% Portuguese 4% Norwegian 3%
• Foreign-born: 7% · Canada
• Languages at home: 83% English-only · German/W. Germanic 11% Spanish 6%

Political lean MEDSL · Stutsman

• 2024 margin: Solid R (+44.6) · D 26.7% · R 71.3% · Other 1.9%
• 2008→2024 swing: -29.9pp toward R · 2008: -14.7pp · 2024: -44.6pp
• All cycles: 2024: R+44.6 2020: R+43.4 2016: R+42.5 2012: R+22.1 2008: R+14.7

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

1 event — show timeline

• 2026-05-01 Listed $149,000 GNMLS

Property tax history

+4.9%/yr

Latest (2025): $775 · +12.6% YoY. Source: county tax records.