3545 42nd Ave S · Fargo, ND 58104

$309,000

3 bd · 2.0 ba · 1,203 sqft · MultiFamily public records · 17 Days on market

Built 1998 5,850 sqft 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
• DSCR +4.4/10.0
• Livability +4.2/5.0
• Rent growth +3.8/5.0
• Schools +3.6/10.0
• 1% rule +3.2/10.0
• Condition / age +2.5/5.0
• 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

Take a look at this fantastic 2400 square foot twin home. It features a remodeled kitchen , an impressive laundry and storage room, and a jetted bathtub, Large bedrooms and is in excellent move in condition. With a finished garage and lots of landscaping, it is a place you can enjoy.

Key facts

• Landscaped yard
• Granite countertops
• Electric fireplace

Tags

• CORNER LOT
• LANDSCAPED YARD
• MAINTENANCE FREE DECK
• GRANITE COUNTERTOPS
• LOWER LEVEL FAMILY ROOM
• ELECTRIC FIREPLACE

Property features AI

Finance

• Financial info: Annual taxes listed (see official records for details)
• HOA & community: $795.20 other annual assessment

Exterior

• Parking: Attached heated and insulated garage with garage door opener; 2-car garage
• Utilities: City water connected; City sewer connected; Electric fuel
• Home design: Residential attached property; Split entry (bi-level) design; Entry level spans multiple levels
• Construction: Asphalt roof; Poured concrete foundation
• Exterior features: Stone and vinyl exterior; Lot about 45 x 130 (5,850 sq ft)

Interior

• Kitchen: Kitchen with center island; Range; Microwave; Dishwasher; Refrigerator; Garbage disposal; Electric water heater
• Bedrooms: 3 bedrooms (some bedrooms on upper and lower levels)
• Bathrooms: 2 full bathrooms (one on upper level, one in lower/full basement)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Finished full basement; Deck; Informal dining room; Vaulted ceilings; Ceiling fan(s); Primary bedroom with walk-in closet; Electric fireplace in family room
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $309k.

Deal economics

• At list price, monthly cash flow is $59 ($713/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 $252k (18.3% below list).
• Recommended offer: $252k (18.3% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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: Centennial Elementary School (math 42% / reading 38%, grade F, #132 of 236 statewide, top 57%, 562 students, 26% FRL); Discovery Middle School (math 49% / reading 55%, grade C+, #3 of 35 statewide, top 12%, 975 students, 26% FRL); Fargo Davies High School (math 34% / reading 45%, grade F, #57 of 144 statewide, top 48%, 1,363 students, 19% FRL) — zoned schools at 24% FRL track the district average.
• Market conditions: Rents rising fast (+5.1%/yr); 369 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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).
• This rent runs 35% of the median local income ($86k/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 $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 17 days — a 2% lower offer ($304k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y ago 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 $255k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $252,500 (18.3% 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. 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?
4. 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.
5. 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.
6. 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: 0.82% ✗
• Cap rate: 6.52%
• Cash-on-cash: 0.82%
• DSCR: 1.04
• GRM: 10.2

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: -12.9%
• Equity multiple: 0.53×
• Total profit: $-40,847
• Equity at exit: $46,073

10-year hold

• IRR: -1.1%
• Equity multiple: 0.91×
• Total profit: $-7,355
• Equity at exit: $26,717

Cash invested: $86,520 (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: 369
• Price-to-rent: 20.4×

Monthly cashflow live

• Estimated rent: $2,525 high
• Mortgage (P&I): −$1,620
• Tax from tax record: −$186 /mo · $2,234/yr
• Insurance: −$129
• HOA: −$0
• Vacancy / Maint / Mgmt: −$530
• Net cashflow: $59

Break-even live

Break-even rent $2,450

Max offer price $309,000

Occupancy floor 93%

Sensitivity live

Price	-10% $234	-5% $147	+0% $59	+5% $-28	+10% $-116
Rent	-10% $-140	-5% $-40	+0% $59	+5% $159	+10% $259
Rate	-1.0pp $215	-0.5pp $138	base $59	+0.5pp $-21	+1.0pp $-102

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,526
Total (2 units)			$2,525

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: $77,250
• Closing costs: $9,270
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4835 38th St S Fargo, ND	3.0	1.0–2.0	956	$1,765	$1.85	15d	36	0.55mi
3015 40th Ave S Unit G Fargo, ND	2.0	2.5	1363	$1,480	$1.09	23d	1	0.56mi
3720 42nd St S Fargo, ND	2.0–4.0	1.0–2.0	1105	$1,118	$1.01	23d	1	0.66mi
3510 28th St S Fargo, ND	3.0	1.0–2.0	786	$1,335	$1.70	15d	10	0.96mi
2601 36th Ave S Fargo, ND	2.0	1.0–2.0	941	$850	$0.90	15d	8	0.99mi
2510 36th Ave S Fargo, ND	3.0	1.0–2.0	945	$1,300	$1.38	15d	18	1.00mi
3301 32nd St S Fargo, ND	3.0	1.0–2.0	808	$1,483	$1.83	15d	9	1.03mi
4045 34th Ave S Fargo, ND	1.0–2.0	1.0–2.0	886	$1,265	$1.43	15d	15	1.04mi
3760 55th Ave S Fargo, ND	3.0	1.0–2.0	910	$1,900	$2.09	15d	37	1.11mi
3330 42nd St SW Fargo, ND	1.0–3.0	1.0–2.0	1051	$1,095	$1.04	23d	1	1.16mi
4201 33rd Ave S Fargo, ND	2.0	1.0	900	$900	$1.00	15d	2	1.19mi
4240 53rd Ave S Unit 4240-202 Fargo, ND	2.0	2.0	982	$1,275	$1.30	23d	1	1.21mi
5301 27th St S Fargo, ND	2.0–3.0	2.0	1381	$1,575	$1.14	15d	4	1.21mi
4221 33rd Ave S Fargo, ND	2.0	1.0	900	$900	$1.00	23d	1	1.22mi
4231 33rd Ave S Fargo, ND	2.0	1.0	900	$900	$1.00	23d	1	1.24mi
5400 42nd St S Fargo, ND	1.0–3.0	1.0–2.0	978	$1,390	$1.42	15d	6	1.24mi
5624 Tillstone Dr S Fargo, ND	2.0	1.0–2.0	797	$1,810	$2.27	15d	18	1.26mi
4251 33rd Ave S Fargo, ND	1.0–3.0	1.0–2.0	975	$1,115	$1.14	23d	2	1.26mi
4551 47th Ave S Fargo, ND	2.0	1.0–2.0	987	$1,475	$1.49	15d	21	1.27mi
4261 33rd Ave S Fargo, ND	2.0	1.0	1000	$950	$0.95	23d	1	1.28mi
3161 32nd St S Fargo, ND	2.0–3.0	1.0	969	$1,000	$1.03	15d	7	1.29mi
3302 31st Ave S Fargo, ND	1.0–3.0	1.0–2.0	926	$1,150	$1.24	15d	13	1.30mi
3140 33rd St S Fargo, ND	2.0–3.0	1.0	945	$970	$1.03	15d	5	1.31mi
4281 33rd Ave S Fargo, ND	1.0–3.0	1.0–2.0	975	$1,165	$1.19	15d	2	1.32mi
5800 38th St S Fargo, ND	3.0	1.0–2.0	1005	$1,995	$1.99	15d	40	1.33mi
2701 32nd Ave S Fargo, ND	2.0	1.0	1015	$895	$0.88	15d	3	1.33mi
3343 31st Ave S Fargo, ND	1.0–3.0	1.0	839	$905	$1.08	23d	1	1.34mi
4452 47th St S Fargo, ND	1.0–3.0	1.0–2.0	956	$1,313	$1.37	15d	10	1.35mi
4550 49th Ave S Fargo, ND	3.0	1.0–2.0	996	$1,945	$1.95	15d	25	1.37mi
3100 33rd St S Unit 3120-301 Fargo, ND	3.0	1.0	1050	$985	$0.94	15d	1	1.38mi
3031 33rd St S Fargo, ND	2.0–3.0	1.0–1.5	1078	$1,340	$1.24	15d	3	1.39mi
4010 58th Ave S Fargo, ND	1.0–3.0	1.0–2.0	1351	$2,310	$1.71	15d	2	1.39mi
2201 33rd Ave S Fargo, ND	1.0–2.0	1.0	812	$860	$1.06	15d	9	1.43mi
5450 26th St S Fargo, ND	1.0–3.0	1.0–2.0	1111	$1,615	$1.45	15d	10	1.47mi
4901 44th Ave S Fargo, ND	1.0–3.0	1.0–2.0	948	$1,325	$1.40	15d	22	1.49mi

Listing history 17 events

1. 2026-06-07
   statusdays on market $309,000 Pending 17 DOM
2. 2026-06-02
   days on market $309,000 Contingent - Inspection 14 DOM
3. 2026-06-01
   days on market $309,000 Contingent - Inspection 13 DOM
4. 2026-05-31
   days on market $309,000 Contingent - Inspection 12 DOM
5. 2026-05-30
   days on market $309,000 Contingent - Inspection 11 DOM
6. 2026-05-22
   historical Contingent - Inspection
7. 2026-05-18
   listed $309,000 Active
8. 2022-11-21
   soldstatus $255,000
9. 2022-11-18
   soldstatus $255,000 287-char remark

   Show marketing remark (287 chars)

   Take a look at this fantastic 2400 square foot twin home. It features a remodeled kitchen , an impressive laundry and storage room, and a jetted bathtub, Large bedrooms and is in excellent move in condition. With a finished garage and lots of landscaping, it is a place you can enjoy.

10. 2022-10-20
    listed $255,000 287-char remark

    Show marketing remark (287 chars)

    Take a look at this fantastic 2400 square foot twin home. It features a remodeled kitchen , an impressive laundry and storage room, and a jetted bathtub, Large bedrooms and is in excellent move in condition. With a finished garage and lots of landscaping, it is a place you can enjoy.

11. 2016-01-22
    soldstatus $208,000
12. 2016-01-20
    soldstatus $208,000 319-char remark

    Show marketing remark (319 chars)

    Amazing!!! The home shows like you are in a decorator showroom! All new paint, appliances, flooring, back splash, countertops, faucets and more!! This twin home has 3 large bedrooms and 2 full baths with a finished garage. See the update list for more information. Looks just like new! All you need to do is move in!!

13. 2015-10-21
    listed $211,900 319-char remark

    Show marketing remark (319 chars)

    Amazing!!! The home shows like you are in a decorator showroom! All new paint, appliances, flooring, back splash, countertops, faucets and more!! This twin home has 3 large bedrooms and 2 full baths with a finished garage. See the update list for more information. Looks just like new! All you need to do is move in!!

14. 2014-12-24
    soldstatus $190,425
15. 2014-12-22
    soldstatus $190,425
16. 2014-11-16
    listed $189,900
17. 2006-03-17
    soldstatus $145,000

ⓘ 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: $2,234 · $186/mo
• Projected year-2 tax: $3,028 · $252/mo
• Expected delta: +$794/yr (+$66/mo · 35.5%)

ⓘ 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: $30,300
• − Mortgage interest: −$17,309
• − Property taxes: −$2,234
• − Insurance: −$1,545
• − Repairs & maintenance: −$2,424
• − Management: −$2,424
• − Depreciation: −$8,989
• Taxable loss: −$4,625
• Est. tax savings @ 24.0%: +$1,110
• After-tax cash flow: $1,823/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): 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

+113.1% since first listed

12 events — show timeline

• 2026-05-22 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-18 Listed $309,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-11-21 Sold (Public Records) $255,000 Public Records
• 2022-11-18 Sold (MLS) $255,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-10-20 Listed $255,000 NORTHSTARMLS as Distributed by MLS Grid
• 2016-01-22 Sold (Public Records) $208,000 Public Records
• 2016-01-20 Sold (MLS) $208,000 NORTHSTARMLS as Distributed by MLS Grid
• 2015-10-21 Listed $211,900 NORTHSTARMLS as Distributed by MLS Grid
• 2014-12-24 Sold (Public Records) $190,425 Public Records
• 2014-12-22 Sold (MLS) $190,425 NORTHSTARMLS as Distributed by MLS Grid
• 2014-11-16 Listed $189,900 NORTHSTARMLS as Distributed by MLS Grid
• 2006-03-17 Sold (Public Records) $145,000 Public Records

Property tax history

-2.4%/yr

Latest (2025): $2,234 · -38.0% YoY. Source: county tax records.