2581 66th Ave S · Fargo, ND 58104

$315,000

3 bd · 2.0 ba · 2,034 sqft · MultiFamily · 15 Days on market

Built 2020 Good condition 4,965 sqft lot

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Why this score? — see what drove the C 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 +22.1/30.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 1% rule +5.6/10.0
• Livability +4.2/5.0
• Condition / age +4.0/5.0
• Rent growth +3.8/5.0
• Schools +3.6/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

AVAILABLE TO CLOSE IN 60 DAYS!! Beautiful custom bilevel twin floorplan situated in the new Golden Valley Subdivision of Fargo! This brand-new, custom home boasts 3 bedrooms, 2 bathrooms, 2 garage stalls, and 2136 square footage of living space. With time to still choose selections, make this home your own with custom cabinetry, granite/quartz countertops, backsplash, and more! Along the stainless-steel appliance package included, there will be little for you to worry about upon move-in! Call your favorite realtor TODAY!

Key facts

• Gorgeous kitchen
• Family room
• Dining room

Tags

• SPACIOUS FRONT ENTRY
• GORGEOUS KITCHEN
• DINING ROOM
• FAMILY ROOM
• LAUNDRY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $315k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $505 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $315k).
• Recommended offer: $310k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.2% 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: Fargo Davies High School (math 34% / reading 45%, grade F, #57 of 144 statewide, top 48%, 1,363 students, 19% FRL).
• Market conditions: Rents rising fast (+5.1%/yr); 358 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,218 units permitted in Cass County in 2024 (410 in 5+ unit buildings).
• At $3,343/mo this rent would consume 47% of the median local household income ($86k/yr) (locally 2039% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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 15 days — a 2% lower offer ($310k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y ago; this cycle's ask has dropped $2.83M (90%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $241k; 31% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $310,275 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.06% ✓
• Cap rate: 8.22%
• Cash-on-cash: 6.87%
• DSCR: 1.31
• GRM: 7.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.13% rent growth · sell at horizon

5-year hold

• IRR: -3.4%
• Equity multiple: 0.87×
• Total profit: $-11,521
• Equity at exit: $46,968

10-year hold

• IRR: 8.5%
• Equity multiple: 1.71×
• Total profit: $62,869
• Equity at exit: $27,235

Cash invested: $88,200 (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 58104

• Home prices YoY: -29.6%
• Rents YoY: 5.1%
• Active inventory: 358
• Price-to-rent: 15.7×

Monthly cashflow live

• Estimated rent: $3,343 high
• Mortgage (P&I): −$1,652
• Tax from tax record: −$353 /mo · $4,231/yr
• Insurance: −$131
• HOA: −$0
• Vacancy / Maint / Mgmt: −$702
• Net cashflow: $505

Break-even live

Break-even rent $2,703

Max offer price $315,000

Occupancy floor 80%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,344
Total (2 units)			$3,343

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: $78,750
• Closing costs: $9,450
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6804 27th St S Fargo, ND	3.0	3.0	1812	$2,195	$1.21	13d	1	0.19mi
6828 27th St S Unit 6828 Fargo, ND	3.0	3.0	1739	$2,095	$1.20	21d	1	0.26mi
6824 27th St S Unit 6824 Fargo, ND	3.0	3.0	1812	$2,195	$1.21	21d	1	0.26mi
3243 67th Ave S Fargo, ND	1.0–4.0	1.0–2.0	1239	$2,310	$1.86	13d	35	0.33mi
6496 21st St S Fargo, ND	3.0	3.0	1739	$2,125	$1.22	13d	6	0.43mi
7307 30th St S Unit 7307 Fargo, ND	3.0	3.0	1739	$2,095	$1.20	21d	1	0.70mi
7309 30th St S Unit 7309 Fargo, ND	3.0	3.0	1739	$2,095	$1.20	21d	1	0.70mi
7319 30th St S Unit 7319 Fargo, ND	3.0	3.0	1739	$2,095	$1.20	21d	1	0.72mi
7331 30th St S Unit 7331 Fargo, ND	3.0	3.0	1812	$2,195	$1.21	21d	1	0.73mi
7337 30th St S Unit 7337 Fargo, ND	3.0	3.0	1739	$2,095	$1.20	21d	1	0.74mi
7343 30th St S Unit 7343 Fargo, ND	3.0	3.0	1812	$2,195	$1.21	21d	1	0.74mi
7339 30th St S Unit 7339 Fargo, ND	3.0	3.0	1812	$2,195	$1.21	21d	1	0.74mi
7345 30th St S Unit 7345 Fargo, ND	3.0	3.0	1739	$2,095	$1.20	21d	1	0.74mi
7351 30th St S Unit 7351 Fargo, ND	3.0	3.0	1812	$2,195	$1.21	21d	1	0.75mi
7347 30th St S Unit 7347 Fargo, ND	3.0	3.0	1812	$2,195	$1.21	21d	1	0.75mi
7363 30th St S Unit 7363 Fargo, ND	3.0	3.0	1739	$2,095	$1.20	21d	1	0.76mi
7409 30th St S Unit 7409 Fargo, ND	3.0	3.0	1739	$2,095	$1.20	21d	1	0.78mi
5450 26th St S Fargo, ND	1.0–3.0	1.0–2.0	1111	$1,615	$1.45	13d	10	0.83mi
7459 18th St S Fargo, ND	3.0	3.0	1600	$2,250	$1.41	13d	1	0.90mi
5301 27th St S Fargo, ND	2.0–3.0	2.0	1381	$1,575	$1.14	13d	4	1.01mi
5800 38th St S Fargo, ND	3.0	1.0–2.0	1005	$1,995	$1.99	13d	40	1.23mi
4010 58th Ave S Fargo, ND	1.0–3.0	1.0–2.0	1351	$2,310	$1.71	13d	2	1.43mi

Listing history 10 events

1. 2026-04-08
   status Pending
2. 2026-03-31
   historical Contingent - Inspection
3. 2026-03-24
   price $315,000
4. 2026-03-24
   listed $3,150,000 Active
5. 2021-05-18
   soldstatus $240,950 526-char remark

   Show marketing remark (526 chars)

   AVAILABLE TO CLOSE IN 60 DAYS!! Beautiful custom bilevel twin floorplan situated in the new Golden Valley Subdivision of Fargo! This brand-new, custom home boasts 3 bedrooms, 2 bathrooms, 2 garage stalls, and 2136 square footage of living space. With time to still choose selections, make this home your own with custom cabinetry, granite/quartz countertops, backsplash, and more! Along the stainless-steel appliance package included, there will be little for you to worry about upon move-in! Call your favorite realtor TODAY!

6. 2021-01-11
   listed $234,080 526-char remark

   Show marketing remark (526 chars)

   AVAILABLE TO CLOSE IN 60 DAYS!! Beautiful custom bilevel twin floorplan situated in the new Golden Valley Subdivision of Fargo! This brand-new, custom home boasts 3 bedrooms, 2 bathrooms, 2 garage stalls, and 2136 square footage of living space. With time to still choose selections, make this home your own with custom cabinetry, granite/quartz countertops, backsplash, and more! Along the stainless-steel appliance package included, there will be little for you to worry about upon move-in! Call your favorite realtor TODAY!

7. 2020-12-31
   historical
8. 2020-12-09
   listed $234,080
9. 2020-12-03
   historical
10. 2020-09-07
    listed $234,080

ⓘ 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: $4,231 · $353/mo
• Projected year-2 tax: $4,231 · $353/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 (shaded) · 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: $40,116
• − Mortgage interest: −$17,645
• − Property taxes: −$4,231
• − Insurance: −$1,575
• − Repairs & maintenance: −$3,209
• − Management: −$3,209
• − Depreciation: −$9,164
• Taxable income: $1,083
• Est. tax owed @ 24.0%: −$260
• After-tax cash flow: $5,803/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.

Condition & rehab AI · 13 photos

Good 80/100 Cosmetic rehab

This multi-family home is in good condition with a good condition score of 80. It has a good kitchen, bathrooms, and exterior. The home is move-in ready with minor maintenance items to address.

Value-add opportunities

• Both Paint exterior doors — Fresh paint can enhance curb appeal and make the home look more inviting.
• Both Clean gutters — Clean gutters improve the home's appearance and prevent water damage to the siding and foundation.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior doors — Fresh paint can enhance curb appeal and make the home look more inviting. ↑
• Both Clean gutters — Clean gutters improve the home's appearance and prevent water damage to the siding and foundation. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 49,168
• Household income: $85,747
• Rent vs Own: 54.6% rent · 45.4% own
• Severe rent burden: 2039.0

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 (83%)
• Race & ethnicity: White 83% Black 7% Two or more races 5% Asian 4% Hispanic / Latino 2%
• Common ancestry: Portuguese 27% Lithuanian 4% Romanian 2%
• Foreign-born: 9% · Canada, China
• Languages at home: 92% English-only · Korean 1% Spanish 1% Russian/Polish/Slavic 1%

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: ▼ -78.58%
• Current HPI: 187.1707
• Rent YoY: ▲ 5.13%
• 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

+34.6% since first listed

10 events — show timeline

• 2026-04-08 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-31 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-24 Price Changed $315,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-24 Listed $3,150,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-05-18 Sold (MLS) $240,950 NORTHSTARMLS as Distributed by MLS Grid
• 2021-01-11 Listed $234,080 NORTHSTARMLS as Distributed by MLS Grid
• 2020-12-31 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2020-12-09 Listed $234,080 NORTHSTARMLS as Distributed by MLS Grid
• 2020-12-03 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2020-09-07 Listed $234,080 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+10.7%/yr

Latest (2025): $4,231 · -27.1% YoY. Source: county tax records.