5 bd · 2.0 ba ·
1,714 sqft ·
Built 1906
· SingleFamily
· Active
· 93 DOM
Cashflow @ list (25.0% down · 7.5%)
Estimated rent
$1,509/mo
Mortgage (P&I)
−$944
Tax + insurance
−$300
HOA
−$0
Vac / Maint / Mgmt
−$317
Net cashflow
$-52/mo
Annual
$-619/yr
Cap rate
5.95%
Cash-on-cash
-1.23%
DSCR
0.95
1% rule
0.84%
Cash to close
$50,400
Investor read
This is a 5-bed/2.0-bath single-family listed at $180k.
At list price, monthly cash flow is $-52 ($-619/yr) — negative.
To cash-flow at today's rent, offer at most $173k (4.1% below list).
To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $151k (16.1% below list).
It's been on market 93 days — a 9% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
Recommended offer: $151k (16.1% below list) — sets the bar for 1% rule.
In year one you build about $7k of equity ($1k loan paydown + $5k appreciation (3.0% local appreciation)).
Location reads 79/100 on livability (#4 in ND, #2,032 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
Beach 3 (rural): math 40% / reading 40% proficiency, ranked #107 of 169 in ND (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
Zoned schools: Lincoln Elementary School (math 47% / reading 42%, grade F, #102 of 236 statewide, top 49%, 146 students, 39% FRL); Beach High School (math 34% / reading 44%, grade F, #57 of 144 statewide, top 48%, 129 students, 39% FRL).
Watch-outs: built in 1906 — expect roof / HVAC / electrical / plumbing capex.
Market conditions: 22 active listings in the ZIP; 5 units permitted in Golden Valley County in 2024 (0 in 5+ unit buildings).
Golden Valley County population projected at +51% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
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.
At projected returns (3.0% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~7 years — after that, you're playing with house money.
By year 6, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
Questions for listing agent
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?
It's been on market 93 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
Built in 1906 — 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.
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?
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.
CashFlowRE · CFR-6VB6B42SYVVEF6
· Data 1 week agocashflowre.app · 2026-05-29