1 Perkins St · McGregor, ND 58755

$119,000

2 bd · 1.0 ba · 1,078 sqft · SingleFamily · 44 Days on market

Built 1920 0.40 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 +14.3/30.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• DSCR +4.3/10.0
• 1% rule +4.0/10.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• Laundry space
• Oversized bathroom
• 0.4 acre lot

Tags

• UPDATED VINYL PLANK FLOORING
• BRIGHT FUNCTIONAL KITCHEN
• ABUNDANT CABINETRY AND STORAGE
• DEDICATED DINING ROOM
• OVERSIZED BATHROOM
• LAUNDRY SPACE

Property features AI

Finance

• Other: Lot is paved frontage on a highway; Lot dimensions: 72 x 140 & 50 x 150 (approximately 0.4 acres)

Exterior

• Parking: Attached garage with 1 parking space; Garage door opener; Lighted garage; Inside entrance; Garage faces front
• Utilities: Private well water; Septic tank; Propane available; Electricity connected; Water available; Sewer connected
• Home design: Single family residence; Two levels
• Construction: Metal siding; Asphalt roof; Concrete perimeter foundation; Built on two levels
• Exterior features: Deck; Porch; No additional exterior features listed

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator
• Flooring: Vinyl; Carpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (propane); Central air; Ceiling fan(s); Wall/window unit(s)
• Interior features: Ceiling fan(s); Window treatments
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $119k.

Deal economics

• At list price, monthly cash flow is $21 ($255/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 $107k (10.3% below list).
• Recommended offer: $107k (10.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Tioga 15 (rural): math 28% / reading 25% proficiency, ranked #44 of 53 in ND (top 83%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; only 15% free/reduced lunch — higher-income household profile.
• Zoned schools: Central Elementary School (math 27% / reading 22%, grade F, #204 of 236 statewide, top 91%, 308 students, 11% FRL); Tioga High School (math 27% / reading 27%, grade F, #105 of 144 statewide, top 73%, 215 students, 13% FRL) — zoned schools at 12% FRL track the district average.
• Market conditions: 1 active listings in the ZIP; 90 units permitted in Williams County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($823 loan paydown + $4k appreciation (3.0% local appreciation)).
• Williams County population projected at +158% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($115k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $106,790 (10.3% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
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. 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?
5. 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.
6. 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.
7. 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: 0.90% ✗
• Cap rate: 6.51%
• Cash-on-cash: 0.77%
• DSCR: 1.03
• GRM: 9.3

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: 8.2%
• Equity multiple: 1.47×
• Total profit: $15,705
• Equity at exit: $53,508

10-year hold

• IRR: 10.8%
• Equity multiple: 2.62×
• Total profit: $54,053
• Equity at exit: $82,462

Cash invested: $33,320 (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 58755

• Active inventory: 1
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,068 medium
• Mortgage (P&I): −$624
• Tax est. 1.5%: −$149 /mo · $1,785/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$224
• Net cashflow: $21

Break-even live

Break-even rent $1,041

Max offer price $119,000

Occupancy floor 93%

Sensitivity live

Price	-10% $103	-5% $62	+0% $21	+5% $-20	+10% $-61
Rent	-10% $-63	-5% $-21	+0% $21	+5% $63	+10% $106
Rate	-1.0pp $81	-0.5pp $52	base $21	+0.5pp $-10	+1.0pp $-41

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-04-29
   historical Active Under Contract
2. 2026-04-16
   listed $119,000 Active

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

Taxation est. · year 1

• Rental income: $12,815
• − Mortgage interest: −$6,666
• − Property taxes: −$1,785
• − Insurance: −$595
• − Repairs & maintenance: −$1,025
• − Management: −$1,025
• − Depreciation: −$3,462
• Taxable loss: −$1,743
• Est. tax savings @ 24.0%: +$418
• After-tax cash flow: $673/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: Tioga 15
• NCES district ID: 3800039
• Math proficiency: 28% ▬ 0.00%
• Reading proficiency: 25% ▼ -12.00%
• Median HH income: $63,853
• Composite: 24.65/100
• National rank: #7626
• State rank: #44 of 53 in ND

Livability — McGregor

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: McGregor, ND
• Population (ZIP): 208

Population outlook (Williams County) Hauer SSP2

• Today (2025): 66,696 people
• By 2030: 84,935 · +27.3%
• By 2040: 125,867 · +88.7%
• By 2050: 171,987 · +157.9%
• By 2075: 303,258 · +354.7%
• By 2100: 433,528 · +550.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (100%)
• Race & ethnicity: White 100%
• Common ancestry: Portuguese 35%

Political lean MEDSL · Williams

• 2024 margin: Solid R (+68.1) · D 15.2% · R 83.3% · Other 1.6%
• 2008→2024 swing: -32.2pp toward R · 2008: -36.0pp · 2024: -68.1pp
• All cycles: 2024: R+68.1 2020: R+66.8 2016: R+66.3 2012: R+50.0 2008: R+36.0

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

2 events — show timeline

• 2026-04-29 Contingent — GNMLS
• 2026-04-16 Listed $119,000 GNMLS