528 4th St SE

Stanley, ND 58784

$85,000B

1 bd · 2.0 ba · 1,376 sqft · Built 1938 · Other · Active · 89 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,032/mo
• Mortgage (P&I): −$446
• Tax + insurance: −$87
• HOA: −$0
• Vac / Maint / Mgmt: −$217
• Net cashflow: $283/mo
• Annual: $3,399/yr
• Cap rate: 10.29%
• Cash-on-cash: 14.28%
• DSCR: 1.64
• 1% rule: 1.21%
• Cash to close: $23,800

Investor read

• This is a 1-bed/2.0-bath other listed at $85k.
• At list price, monthly cash flow is $283 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• It's been on market 89 days — a 6% lower offer ($80k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $80k (6.0% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($588 loan paydown + $3k appreciation (4.0% local appreciation)).
• Location reads 76/100 on livability (#17 in ND, #3,477 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: commute C-, health & safety D, amenities F.
• Stanley 2 (rural): math 21% / reading 37% proficiency, ranked #41 of 53 in ND (top 77%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Stanley Elementary School (math 23% / reading 40%, grade F, #181 of 236 statewide, top 77%, 428 students, 26% FRL); Stanley High School (math 17% / reading 32%, grade F, #108 of 144 statewide, top 88%, 327 students, 22% FRL).
• Watch-outs: built in 1938 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 25 active listings in the ZIP; 29 units permitted in Mountrail County in 2024 (0 in 5+ unit buildings).
• Mountrail County population projected at +118% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (4.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 89 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1938 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.