204 Broadway St N

Linton, ND 58552

$55,000B+

1 bd · 1.0 ba · 700 sqft · Built 1950 · Other · Active · 24 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $780/mo
• Mortgage (P&I): −$288
• Tax + insurance: −$92
• HOA: −$0
• Vac / Maint / Mgmt: −$164
• Net cashflow: $236/mo
• Annual: $2,836/yr
• Cap rate: 11.45%
• Cash-on-cash: 18.41%
• DSCR: 1.82
• 1% rule: 1.42%
• Cash to close: $15,400

Investor read

• This is a 1-bed/1.0-bath other listed at $55k. Condition is rated poor.
• At list price, monthly cash flow is $236 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($780 rent vs $55k).
• It's been on market 24 days — a 2% lower offer ($54k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $54k (1.5% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($380 loan paydown + $3k appreciation (4.7% local appreciation)).
• Location reads 70/100 on livability (#80 in ND) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A-; Watch: amenities F, commute F, employment F.
• Linton 36 (rural): math 55% / reading 60% proficiency, ranked #17 of 169 in ND (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 31 active listings in the ZIP; 26 units permitted in Emmons County in 2024 (0 in 5+ unit buildings).
• Emmons County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.7% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — Significant wear and possible damage
• Major: exterior siding — Severe weathering and damage