326 Madison Ave · Neche, ND 58265

$70,000

3 bd · 2.0 ba · 2,431 sqft · Other · 3 Days on market

Built 1900 4,965 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
• Schools +5.3/10.0
• Appreciation +5.0/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• 4,965 sq ft lot
• Garage
• Built 1900

Property features AI

Exterior

• Parking: Attached or detached 1-car garage
• Utilities: City water connected; City sewer connected; Electric and oil heating fuel
• Home design: Residential property; One story; Entry level: Main
• Construction: Poured concrete foundation; Foundation area approximately 1,431; Building total area approximately 2,862
• Exterior features: Wood exterior

Interior

• Kitchen: Kitchen on main level
• Bedrooms: 3 bedrooms (all on the main level)
• Bathrooms: Two 3/4 bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Full basement
• Laundry & utility: Laundry room; Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $70k.

Deal economics

• At list price, monthly cash flow is $207 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).

Location & tenants

• Location reads 66/100 on livability (#161 in ND) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: crime C-, health & safety D+, schools F.
• North Border 100 (rural): math 60% / reading 60% proficiency, ranked #11 of 169 in ND (top 6%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 3 active listings in the ZIP; 2 units permitted in Pembina County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($484 loan paydown + $2k appreciation (3.0% local appreciation)).
• Pembina County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $24k; list at $70k implies a 190% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $314/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $70,000

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.75% ✓
• Cap rate: 15.22%
• Cash-on-cash: 31.88%
• DSCR: 2.42
• GRM: 4.7

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: 19.5%
• Equity multiple: 2.11×
• Total profit: $21,808
• Equity at exit: $31,475

10-year hold

• IRR: 20.9%
• Equity multiple: 4.03×
• Total profit: $59,427
• Equity at exit: $48,507

Cash invested: $19,600 (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 58265

• Active inventory: 3
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,228 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$53 /mo · $639/yr
• Insurance: −$29
• Flood insurance flood zone: −$314 /mo · $3,765/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $207

Break-even live

Break-even rent $966

Max offer price $70,000

Occupancy floor 78%

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-18
   days on market $70,000 Active 3 DOM
2. 2026-06-17
   days on market $70,000 Active 2 DOM
3. 2026-06-16
   listed $70,000 Active 1 DOM

ⓘ 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: $639 · $53/mo
• Projected year-2 tax: $686 · $57/mo
• Expected delta: +$47/yr (+$4/mo · 7.4%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone A · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥94°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,738
• − Mortgage interest: −$3,921
• − Property taxes: −$639
• − Insurance: −$4,115
• − Repairs & maintenance: −$1,179
• − Management: −$1,179
• − Depreciation: −$2,036
• Taxable income: $1,669
• Est. tax owed @ 24.0%: −$400
• After-tax cash flow: $2,084/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: North Border 100
• NCES district ID: 3800054
• Math proficiency: 60% ▲ 15.00%
• Reading proficiency: 60% ▲ 10.00%
• Median HH income: $52,082
• Composite: 52.88/100
• National rank: #3288
• State rank: #11 of 169 in ND

Livability — Neche

• Score: 66/100
• State rank: #161
• US rank: #11692

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Neche, ND
• Population (ZIP): 533

Population outlook (Pembina County) Hauer SSP2

• Today (2025): 6,414 people
• By 2030: 6,060 · -5.5%
• By 2040: 5,383 · -16.1%
• By 2050: 4,925 · -23.2%
• By 2075: 5,025 · -21.7%
• By 2100: 6,293 · -1.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 12% Two or more races 6%
• Hispanic origin (detail): Mexican 11% Puerto Rican 2%
• Common ancestry: Slovak 6% Portuguese 5% Lithuanian 3%
• Foreign-born: 13% · Canada
• Languages at home: 92% English-only · Spanish 6% German/W. Germanic 2%

Political lean MEDSL · Pembina

• 2024 margin: Solid R (+53.3) · D 22.8% · R 76.1% · Other 1.1%
• 2008→2024 swing: -46.4pp toward R · 2008: -6.9pp · 2024: -53.3pp
• All cycles: 2024: R+53.3 2020: R+50.2 2016: R+49.2 2012: R+20.1 2008: R+6.9

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

+191.7% since first listed

3 events — show timeline

• 2026-06-15 Listed $70,000 NORTHSTARMLS as Distributed by MLS Grid
• 2016-02-18 Sold (Public Records) $24,100 Public Records
• 2012-07-05 Sold (Public Records) $24,000 Public Records

Property tax history

+1.2%/yr

Latest (2024): $639 · +0.0% YoY. Source: county tax records.