401 5th St S · Moorhead, MN 56560

$99,000

3 bd · 2.0 ba · 1,545 sqft · SingleFamily · 22 Days on market

Built 1920 8,276 sqft lot Est $171k · 42% under ↓ 18% since listing

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.9/5.0
• Schools +3.7/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity awaits at 401 5th St S in Moorhead! This 3-bedroom, 2-bath home offers 1,576 sq ft with great potential for investors or buyers ready to add value. Spacious layout and solid structure provide a strong foundation for renovation. Large windows bring in natural light, and the property sits in a convenient location near local amenities. With the right updates, this could be a fantastic investment or personal home. Property sold AS-IS.

Key facts

• 8,276 sq ft lot
• Garage
• Built 1920

Property features AI

Exterior

• Parking: Detached or attached 1-car garage with approximately 312 sq ft
• Utilities: City water connected; City sewer connected; Natural gas
• Home design: Residential property; One-and-one-half levels; Above-grade finished living area about 1,545 sq ft; Below-grade area about 744 sq ft
• Construction: Foundation area about 1,041 (square feet)
• Exterior features: Lot roughly 0.19 acres (approx. 140 x 60)

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $387 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.0% vs local median 3.7% in Moorhead — 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 77/100 on livability (#143 in MN, #3,111 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A-; Watch: crime C-, amenities F, commute F.
• Moorhead Public School District (suburban): math 39% / reading 46% proficiency, ranked #202 of 301 in MN (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.4%/yr); 390 active listings in the ZIP; 14 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; 269 units permitted in Clay County in 2024 (153 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Clay County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 1.4% rent growth), your $28k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 4.7% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $97,515 (1.5% below list)

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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.
6. 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.
7. 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: 1.71% ✓
• Cap rate: 10.98%
• Cash-on-cash: 16.73%
• DSCR: 1.74
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $171,495
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
429 11th St S	0.46mi	3/2.0	1,648 (+7%)	19mo	$182,500	$111	52

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 1.41% rent growth · sell at horizon

5-year hold

• IRR: 5.8%
• Equity multiple: 1.22×
• Total profit: $6,107
• Equity at exit: $14,761

10-year hold

• IRR: 13.4%
• Equity multiple: 1.98×
• Total profit: $27,213
• Equity at exit: $8,560

Cash invested: $27,720 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 46 Balanced
• State Minnesota: 46 Balanced · D+2
• County: — inherits STATE
• City: — inherits STATE

2024 reforms strengthened tenant protections; ramsey/hennepin courts paced moderate to slow.

Methodology + full state rankings →

ZIP-level market 56560

• Rents YoY: 1.4%
• Active inventory: 390
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,688 high
• Mortgage (P&I): −$519
• Tax from tax record: −$387 /mo · $4,642/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$355
• Net cashflow: $387

Break-even live

Break-even rent $1,199

Max offer price $99,000

Occupancy floor 72%

Sensitivity live

Price	-10% $718	-5% $415	+0% $387	+5% $359	+10% $331
Rent	-10% $253	-5% $320	+0% $387	+5% $453	+10% $520
Rate	-1.0pp $436	-0.5pp $412	base $387	+0.5pp $361	+1.0pp $335

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
810 4th Ave S Unit 138 Moorhead, MN	3.0	2.0	1750	$1,325	$0.76	22d	1	0.29mi
1205 Main Ave Moorhead, MN	2.0	1.0–2.0	933	$1,200	$1.29	45d	1	0.63mi
337 10th Ave S Fargo, ND	3.0	1.0	979	$1,235	$1.26	22d	1	0.68mi
23 Broadway N Fargo, ND	1.0–3.0	1.0–2.0	912	$1,700	$1.86	22d	5	0.78mi
23 N Broadway Dr Unit 306 Fargo, ND	3.0	1.0	1100	$1,560	$1.42	22d	1	0.79mi
23 N Broadway Dr Unit 406 Fargo, ND	3.0	2.0	1225	$1,700	$1.39	14d	1	0.79mi
419 3rd St N Fargo, ND	1.0–3.0	1.0–2.0	1023	$2,600	$2.54	14d	21	0.87mi
630 1st Ave N Fargo, ND	1.0–4.0	1.0–2.0	1098	$1,450	$1.32	14d	6	0.89mi
624 2nd Ave N Fargo, ND	3.0	1.0–2.0	914	$2,025	$2.22	14d	32	0.92mi
1521 1st Ave N Moorhead, MN	1.0–3.0	1.0–2.0	1050	$1,440	$1.37	45d	1	0.94mi
405 Broadway N Fargo, ND	3.0	1.0–2.0	973	$2,250	$2.31	14d	24	0.99mi
21 8th St N Fargo, ND	4.0	1.0–3.0	949	$1,441	$1.52	14d	6	1.04mi
303 11th St N Fargo, ND	2.0	1.0–2.0	813	$1,600	$1.97	14d	14	1.25mi
312 11th St N Fargo, ND	2.0	1.0–2.0	874	$1,575	$1.80	14d	17	1.28mi

Listing history 3 events

1. 2026-04-28
   status Pending
2. 2026-04-09
   price $99,000
3. 2026-04-06
   listed $120,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MN · Partial reset (capped growth)

• Current annual tax: $4,642 · $387/mo
• Projected year-2 tax: $4,642 · $387/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 (unshaded) · 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: $20,261
• − Mortgage interest: −$5,546
• − Property taxes: −$4,642
• − Insurance: −$495
• − Repairs & maintenance: −$1,621
• − Management: −$1,621
• − Depreciation: −$2,880
• Taxable income: $3,456
• Est. tax owed @ 24.0%: −$830
• After-tax cash flow: $3,809/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: Moorhead Public School District
• NCES district ID: 2721420
• Math proficiency: 39% ▼ -8.00%
• Reading proficiency: 46% ▼ -6.00%
• Median HH income: $53,009
• Composite: 36.83/100
• National rank: #4560
• State rank: #202 of 301 in MN

Livability — Moorhead

• Score: 77/100
• State rank: #143
• US rank: #3111

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Moorhead, MN
• County: Clay County · 44,405 people
• City population: 44,405
• Metro: Fargo, ND-MN
• Population (ZIP): 44,405
• Household income: $75,406
• Rent vs Own: 41.0% rent · 59.0% own
• Severe rent burden: 2229.0

Population outlook (Clay County) Hauer SSP2

• Today (2025): 67,880 people
• By 2030: 70,881 · +4.4%
• By 2040: 76,865 · +13.2%
• By 2050: 83,205 · +22.6%
• By 2075: 98,719 · +45.4%
• By 2100: 111,657 · +64.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Black 6% Two or more races 6% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 26% Lithuanian 3% Scottish 3%
• Foreign-born: 6% · Canada, Vietnam
• Languages at home: 91% English-only · Spanish 2% Other Indo-European 2% Arabic 1%

Political lean MEDSL · Clay

• 2024 margin: Toss-up / Even · D 49.2% · R 48.8% · Other 2.0%
• 2008→2024 swing: -15.5pp toward R · 2008: 16.0pp · 2024: 0.5pp
• All cycles: 2024: D+0.5 2020: D+4.1 2016: R+2.0 2012: D+8.0 2008: D+16.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -108.32%
• Current HPI: 177.038
• Rent YoY: ▲ 1.41%
• Metro: Fargo, ND-MN
• State GDP YoY: ▲ 2.41%
• F500 in state: 34

Industry mix (Fortune 500 HQ in MN)

Industry	F500 HQs	Revenue
▸Healthcare	2	$407B
▸Retail	2	$150B
▸Consumer Goods	2	$32B
▸Industrial Machinery	2	$6B
▸Agriculture	1	$40B
▸Healthcare / Medical Devices	1	$32B

Price history

-17.5% since first listed

3 events — show timeline

• 2026-04-28 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-09 Price Changed $99,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-06 Listed $120,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+8.8%/yr

Latest (2026): $4,642 · +85.8% YoY. Source: county tax records.