1530 11th St N · Fargo, ND 58102

$229,000

4 bd · 2.0 ba · 1,456 sqft · SingleFamily public records · 23 Days on market

Built 1950 7,013 sqft lot Est $186k · 23% over

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Why this score? — see what drove the F 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 +11.3/30.0
• Livability +4.2/5.0
• Rent growth +3.7/5.0
• Schools +3.6/10.0
• 1% rule +3.4/10.0
• DSCR +3.3/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Key facts

• 7,013 sq ft lot
• 2 garage spots
• Built 1950

Property features AI

Exterior

• Parking: 2-car garage
• Utilities: City water connected; City sewer connected; Natural gas
• Home design: Residential property; Four-or-more-level split
• Construction: Foundation area approximately 1,064 (foundation: concrete)
• Exterior features: Deck; Chain link fencing

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 4 bedrooms (bedrooms located on upper and lower levels)
• Bathrooms: Main floor full bathroom; Basement 3/4 bathroom; Total: 1 full bath and 1 three-quarter bath
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: One fireplace; Concrete basement
• Laundry & utility: Washer and dryer; Laundry located in basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $229k.

Deal economics

• At list price, monthly cash flow is $-85 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $214k (6.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $193k (15.5% below list).
• Recommended offer: $193k (15.5% below list) — sets the bar for 1% rule.
• 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: Washington Elementary School (math 47% / reading 42%, grade F, #102 of 236 statewide, top 49%, 331 students, 27% 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) — zoned schools at 28% FRL track the district average.
• Market conditions: Rents rising fast (+4.7%/yr); 205 active listings in the ZIP; 9 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).
• This rent runs 39% of the median local income ($60k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 23 days — a 2% lower offer ($226k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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.
• Current owner paid $144k; list at $229k implies a 59% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $193,410 (15.5% 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. Built in 1950 — 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. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.84% ✗
• Cap rate: 5.85%
• Cash-on-cash: -1.59%
• DSCR: 0.93
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $186,368
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1209 9th St N	0.57mi	3/2.0 (-1)	1,636 (+12%)	21mo	$209,900	$128	30

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

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: $-39,088
• Equity at exit: $34,145

10-year hold

• IRR: -5.9%
• Equity multiple: 0.59×
• Total profit: $-26,432
• Equity at exit: $19,800

Cash invested: $64,120 (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: 9.9×

Monthly cashflow live

• Estimated rent: $1,934 high
• Mortgage (P&I): −$1,201
• Tax from tax record: −$317 /mo · $3,799/yr
• Insurance: −$95
• HOA: −$0
• Vacancy / Maint / Mgmt: −$406
• Net cashflow: $-85

Break-even live

Break-even rent $2,042

Max offer price $213,987

Occupancy floor 99%

Sensitivity live

Price	-10% $45	-5% $-20	+0% $-85	+5% $-150	+10% $-215
Rent	-10% $-238	-5% $-161	+0% $-85	+5% $-9	+10% $68
Rate	-1.0pp $30	-0.5pp $-27	base $-85	+0.5pp $-144	+1.0pp $-205

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1601 N University Dr Fargo, ND	2.0–4.0	2.0–4.0	1075	$840	$0.78	23d	1	0.15mi
1515 11th Ave N Fargo, ND	4.0	1.0–4.0	862	$2,520	$2.92	15d	18	0.85mi
902 15th St N Unit 4/5 Fargo, ND	3.0	2.0	1200	$995	$0.83	23d	1	1.02mi
1951 Dakota Dr N Fargo, ND	2.0–3.0	2.0	1051	$1,395	$1.33	15d	5	1.03mi
1900 Dakota Dr N Fargo, ND	3.0–4.0	2.0–3.0	1324	$1,895	$1.43	15d	7	1.07mi
1920 Dakota Dr N Fargo, ND	2.0–3.0	1.0–2.0	842	$1,730	$2.05	15d	6	1.09mi
405 Broadway N Fargo, ND	3.0	1.0–2.0	973	$2,250	$2.31	15d	24	1.33mi
419 3rd St N Fargo, ND	1.0–3.0	1.0–2.0	1023	$2,600	$2.54	15d	21	1.39mi
1820 Dakota Dr Fargo, ND	4.0	1.0–3.0	972	$1,895	$1.95	15d	8	1.39mi

Listing history 12 events

1. 2026-05-01
   status Pending
2. 2026-04-23
   historical Contingent - Inspection
3. 2026-04-23
   historical
4. 2026-04-08
   listed $229,000 Active
5. 2026-04-08
   listed $229,000
6. 2025-09-14
   historical $1,900
7. 2025-08-15
   price $1,900
8. 2025-07-20
   price $1,950
9. 2025-06-03
   listed $2,000
10. 2022-02-15
    price $1,850
11. 2011-06-01
    soldstatus $144,000
12. 2004-09-20
    soldstatus $130,000

ⓘ 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: $3,799 · $317/mo
• Projected year-2 tax: $3,799 · $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 1/10 Low FEMA zone X (unshaded) · 0% 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: $23,209
• − Mortgage interest: −$12,828
• − Property taxes: −$3,799
• − Insurance: −$1,145
• − Repairs & maintenance: −$1,857
• − Management: −$1,857
• − Depreciation: −$6,662
• Taxable loss: −$4,938
• Est. tax savings @ 24.0%: +$1,185
• After-tax cash flow: $165/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

+76.2% since first listed

12 events — show timeline

• 2026-05-01 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-23 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-23 Delisted — GNMLS
• 2026-04-08 Listed $229,000 GNMLS
• 2026-04-08 Listed $229,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-14 Rental Removed $1,900 BUILDIUM
• 2025-08-15 Price Changed $1,900 BUILDIUM
• 2025-07-20 Price Changed $1,950 BUILDIUM
• 2025-06-03 Listed for Rent $2,000 BUILDIUM
• 2022-02-15 Price Changed $1,850 RENT.
• 2011-06-01 Sold (Public Records) $144,000 Public Records
• 2004-09-20 Sold (Public Records) $130,000 Public Records

Property tax history

+5.3%/yr

Latest (2025): $3,799 · +16.1% YoY. Source: county tax records.