501 Main St · Gackle, ND 58442

$57,500

2 bd · 1.0 ba · 913 sqft · Other · 304 Days on market

Built 1920 7,000 sqft lot

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• One stall garage
• Outdoor space
• Corner lot

Tags

• CORNER LOT
• OUTDOOR SPACE
• ONE STALL GARAGE

Property features AI

Exterior

• Parking: 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Metal siding; Steel siding; Shingle, composition, and metal roof
• Exterior features: Corner lot

Interior

• Kitchen: Oven; Refrigerator
• Flooring: Wood; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Propane heating; No cooling
• Interior features: Cathedral ceilings; Unfinished basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $58k.

Deal economics

• At list price, monthly cash flow is $334 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($888 rent vs $58k).
• Recommended offer: $51k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#182 in ND) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D+, crime D+, amenities F.
• Gackle-Streeter 56 (rural): math 20% / reading 50% proficiency, ranked #133 of 169 in ND (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 5 active listings in the ZIP; 1 units permitted in Logan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($398 loan paydown + $2k appreciation (3.0% local appreciation)).
• At projected returns (3.0% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 304 days — a 12% lower offer ($51k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $12k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $35k; list at $58k implies a 64% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $50,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 304 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
7. 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.
8. 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.
9. 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.

Investment metrics

• 1% rule: 1.54% ✓
• Cap rate: 13.26%
• Cash-on-cash: 24.87%
• DSCR: 2.11
• GRM: 5.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 30.9%
• Equity multiple: 2.75×
• Total profit: $28,171
• Equity at exit: $25,854

10-year hold

• IRR: 31.3%
• Equity multiple: 5.38×
• Total profit: $70,508
• Equity at exit: $39,845

Cash invested: $16,100 (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 58442

• Active inventory: 5
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $888 medium
• Mortgage (P&I): −$302
• Tax from tax record: −$42 /mo · $504/yr
• Insurance: −$24
• HOA: −$0
• Vacancy / Maint / Mgmt: −$186
• Net cashflow: $334

Break-even live

Break-even rent $465

Max offer price $57,500

Occupancy floor 57%

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: $14,375
• Closing costs: $1,725
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-04-30
   status Pending
2. 2025-08-04
   price $57,500
3. 2025-07-01
   listed $69,900 Active
4. 2024-06-12
   listed $69,900 Active
5. 2023-09-20
   soldstatus $35,000
6. 2022-01-21
   soldstatus $38,000

ⓘ 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: $504 · $42/mo
• Projected year-2 tax: $564 · $47/mo
• Expected delta: +$60/yr (+$5/mo · 11.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $10,650
• − Mortgage interest: −$3,221
• − Property taxes: −$504
• − Insurance: −$288
• − Repairs & maintenance: −$852
• − Management: −$852
• − Depreciation: −$1,673
• Taxable income: $3,261
• Est. tax owed @ 24.0%: −$783
• After-tax cash flow: $3,221/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: Gackle-Streeter 56
• NCES district ID: 3800043
• Math proficiency: 20% ▬ 0.00%
• Reading proficiency: 50% ▲ 10.00%
• Median HH income: $45,655
• Composite: 32.51/100
• National rank: #10834
• State rank: #133 of 169 in ND

Livability — Gackle

• Score: 65/100
• State rank: #182
• US rank: #12756

Category grades

Amenities F Commute F Cost of living A+ Crime D+ Employment C+ Housing A+ Health & safety D- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gackle, ND
• Population (ZIP): 442

Population outlook (Logan County) Hauer SSP2

• Today (2025): 1,807 people
• By 2030: 1,764 · -2.4%
• By 2040: 1,779 · -1.5%
• By 2050: 1,830 · +1.3%
• By 2075: 2,388 · +32.2%
• By 2100: 2,937 · +62.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 9% Hispanic / Latino 5%
• Common ancestry: Portuguese 10% Scotch-Irish 9% Lithuanian 2%
• Foreign-born: 2%
• Languages at home: 91% English-only · German/W. Germanic 9%

Political lean MEDSL · Logan

• 2024 margin: Solid R (+75.8) · D 11.3% · R 87.1% · Other 1.6%
• 2008→2024 swing: -35.4pp toward R · 2008: -40.4pp · 2024: -75.8pp
• All cycles: 2024: R+75.8 2020: R+74.5 2016: R+73.3 2012: R+55.5 2008: R+40.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• 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

+51.3% since first listed

6 events — show timeline

• 2026-04-30 Pending — GNMLS
• 2025-08-04 Price Changed $57,500 GNMLS
• 2025-07-01 Listed $69,900 GNMLS
• 2024-06-12 Listed $69,900 GNMLS
• 2023-09-20 Sold (Public Records) $35,000 Public Records
• 2022-01-21 Sold (Public Records) $38,000 Public Records

Property tax history

+12.6%/yr

Latest (2025): $504 · +75.2% YoY. Source: county tax records.