128 Park Ave W

Bowdon, ND 58418

$30,000B

3 bd · 1.0 ba · 1,300 sqft · Built — · Other · Pending · 94 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,099/mo
• Mortgage (P&I): −$157
• Tax + insurance: −$34
• HOA: −$0
• Vac / Maint / Mgmt: −$231
• Net cashflow: $677/mo
• Annual: $8,123/yr
• Cap rate: 33.37%
• Cash-on-cash: 96.71%
• DSCR: 5.30
• 1% rule: 3.66%
• Cash to close: $8,400

Investor read

• This is a 3-bed/1.0-bath other listed at $30k.
• At list price, monthly cash flow is $677 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• It's been on market 94 days — a 9% lower offer ($27k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $27k (9.0% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($207 loan paydown + $900 appreciation (3.0% local appreciation)).
• Location reads 57/100 on livability (#312 in ND) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: housing C-, employment D+, crime D-.
• Fessenden-Bowdon 25 (rural): math 45% / reading 50% proficiency, ranked #68 of 169 in ND (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Fessenden-Bowdon Elementary School (math 37% / reading 27%, grade F, #173 of 236 statewide, top 76%, 130 students, 20% FRL); Fessenden-Bowdon High School (math 24% / reading 24%, grade F, #108 of 144 statewide, top 88%, 49 students, 20% FRL) — zoned schools at 20% FRL track the district average.
• Zoned-school proficiency averages 28% at this address vs 48% district-wide (-19 pts) — the specific schools serving this property underperform the Fessenden-Bowdon 25 average; the district grade overstates school quality for this exact location.
• Market conditions: 2 active listings in the ZIP; 1 units permitted in Wells County in 2024 (0 in 5+ unit buildings).
• 2 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 $15k; list at $30k implies a 100% gain — meaningful room to come down on a strong offer.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Questions for listing agent

• It's been on market 94 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• 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.
• 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?
• Crime grade is D 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?
• 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.