6017 57th Ave S · Fargo, ND 58104

$325,000

3 bd · 3.0 ba · 2,065 sqft · MultiFamily · 15 Days on market

Built 2015 4,428 sqft lot

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Why this score? — see what drove the C- 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 +21.6/30.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• 1% rule +4.8/10.0
• Livability +4.2/5.0
• Rent growth +3.8/5.0
• Schools +3.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Welcome home to this beautifully built and spacious three-level twinhome! This home has upgrades and bonus features galore including 12' ceilings, granite countertops, custom window blinds throughout, double pantry, gas plumbing for a future fireplace, deck, fully fenced in backyard, sprinkler system, gorgeous landscaping including lilacs, a flowering crabtree, iris, and peonies, and a finished and heated garage! Conveniently located near schools, medical, entertainment, and interstate! You do not want to miss this one!

Key facts

• 4,428 sq ft lot
• 2 garage spots
• Built 2015

Property features AI

Exterior

• Parking: Attached heated garage; 2-car garage (approximately 26 x 20, concrete floor)
• Utilities: City sewer (connected); Natural gas
• Home design: Residential attached property; Three-level split layout; North side of the street (property faces north)
• Construction: Concrete foundation (approximately 650 foundation area)
• Exterior features: Deck; Patio; Full vinyl fencing; In-ground sprinkler

Interior

• Kitchen: Kitchen with center island; Dishwasher; Disposal; Microwave; Range; Refrigerator; Electric water heater
• Bedrooms: 3 bedrooms (primary and other bedrooms located on upper and lower levels)
• Bathrooms: One full bathroom and two three-quarter bathrooms; Private primary bathroom; primary has a three-quarter bath; additional three-quarter bath in basement; upper-level full bath
• Interior features: Vaulted ceilings; Washer/dryer hookup; Concrete basement
• Laundry & utility: Upper-level laundry; Washer/dryer hookup; Utility room in lower level

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath multifamily listed at $325k.

Deal economics

• At list price, monthly cash flow is $491 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $318k (2.1% below list).
• Recommended offer: $318k (2.1% below list) — sets the bar for 1% rule.
• Cap rate 8.1% vs local median 2.5% in Fargo — 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 85/100 on livability (#1 in ND, #605 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F.
• West Fargo 6 (suburban): math 41% / reading 42% proficiency, ranked #26 of 53 in ND (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+5.1%/yr); 371 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,218 units permitted in Cass County in 2024 (410 in 5+ unit buildings).
• This rent runs 45% of the median local income ($86k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Cass County population projected at +69% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($320k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y ago 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.

Recommended offer $318,200 (2.1% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Crime grade is F 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?
3. 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.
4. 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.
5. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.98% ✗
• Cap rate: 8.11%
• Cash-on-cash: 6.48%
• DSCR: 1.29
• GRM: 8.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.13% rent growth · sell at horizon

5-year hold

• IRR: -4.2%
• Equity multiple: 0.84×
• Total profit: $-14,497
• Equity at exit: $48,459

10-year hold

• IRR: 7.6%
• Equity multiple: 1.63×
• Total profit: $57,158
• Equity at exit: $28,100

Cash invested: $91,000 (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 58104

• Home prices YoY: -29.6%
• Rents YoY: 5.1%
• Active inventory: 371
• Price-to-rent: 17.0×

Monthly cashflow live

• Estimated rent: $3,182 high
• Mortgage (P&I): −$1,704
• Tax from tax record: −$183 /mo · $2,192/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$668
• Net cashflow: $491

Break-even live

Break-even rent $2,560

Max offer price $325,000

Occupancy floor 80%

Sensitivity live

Price	-10% $675	-5% $583	+0% $491	+5% $399	+10% $307
Rent	-10% $240	-5% $366	+0% $491	+5% $617	+10% $743
Rate	-1.0pp $655	-0.5pp $574	base $491	+0.5pp $407	+1.0pp $321

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	3	$3,182
Total (2 units)			$3,182

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5855 57th Ave S Fargo, ND	3.0	3.0	1965	$2,195	$1.12	22d	1	0.05mi
5263 50th Ave S Fargo, ND	3.0	2.0	1672	$1,895	$1.13	14d	1	0.87mi
4742 50th Ave S Fargo, ND	3.0	2.0	2000	$2,100	$1.05	22d	1	1.10mi
6761 71st Ave S Horace, ND	3.0	2.0	1790	$2,195	$1.23	22d	1	1.28mi
4550 49th Ave S Fargo, ND	3.0	1.0–2.0	996	$1,945	$1.95	14d	25	1.30mi

Listing history 13 events

1. 2026-04-25
   status Pending
2. 2026-04-18
   historical Contingent - Inspection
3. 2026-04-10
   listed $325,000 Active
4. 2025-11-07
   soldstatus $300,000 Sold 525-char remark

   Show marketing remark (525 chars)

   Welcome home to this beautifully built and spacious three-level twinhome! This home has upgrades and bonus features galore including 12' ceilings, granite countertops, custom window blinds throughout, double pantry, gas plumbing for a future fireplace, deck, fully fenced in backyard, sprinkler system, gorgeous landscaping including lilacs, a flowering crabtree, iris, and peonies, and a finished and heated garage! Conveniently located near schools, medical, entertainment, and interstate! You do not want to miss this one!

5. 2025-11-07
   soldstatus $300,000

   Show marketing remark (525 chars)

   Welcome home to this beautifully built and spacious three-level twinhome! This home has upgrades and bonus features galore including 12' ceilings, granite countertops, custom window blinds throughout, double pantry, gas plumbing for a future fireplace, deck, fully fenced in backyard, sprinkler system, gorgeous landscaping including lilacs, a flowering crabtree, iris, and peonies, and a finished and heated garage! Conveniently located near schools, medical, entertainment, and interstate! You do not want to miss this one!

6. 2025-09-23
   status Pending 525-char remark

   Show marketing remark (525 chars)

   Welcome home to this beautifully built and spacious three-level twinhome! This home has upgrades and bonus features galore including 12' ceilings, granite countertops, custom window blinds throughout, double pantry, gas plumbing for a future fireplace, deck, fully fenced in backyard, sprinkler system, gorgeous landscaping including lilacs, a flowering crabtree, iris, and peonies, and a finished and heated garage! Conveniently located near schools, medical, entertainment, and interstate! You do not want to miss this one!

7. 2025-09-18
   price $308,400 525-char remark

   Show marketing remark (525 chars)

   Welcome home to this beautifully built and spacious three-level twinhome! This home has upgrades and bonus features galore including 12' ceilings, granite countertops, custom window blinds throughout, double pantry, gas plumbing for a future fireplace, deck, fully fenced in backyard, sprinkler system, gorgeous landscaping including lilacs, a flowering crabtree, iris, and peonies, and a finished and heated garage! Conveniently located near schools, medical, entertainment, and interstate! You do not want to miss this one!

8. 2025-09-10
   listed $309,900 Active 525-char remark

   Show marketing remark (525 chars)

   Welcome home to this beautifully built and spacious three-level twinhome! This home has upgrades and bonus features galore including 12' ceilings, granite countertops, custom window blinds throughout, double pantry, gas plumbing for a future fireplace, deck, fully fenced in backyard, sprinkler system, gorgeous landscaping including lilacs, a flowering crabtree, iris, and peonies, and a finished and heated garage! Conveniently located near schools, medical, entertainment, and interstate! You do not want to miss this one!

9. 2020-10-30
   soldstatus $235,000 819-char remark

   Show marketing remark (819 chars)

   This newer home is the size of the single family version but in a well built twin home for a more affordable price. This one has not missed a single detail either w/the 12' ceilings, lots of windows for natural light, open floor plan w/double pantry & granite countertops, laundry w/built in cabinets for maximum storage on the upper level, huge master suite w/double sinks and glorious walk in closet, & the most beautiful details and finishes throughout including having the gas plumbing for a fireplace to be added in the main level! And if that doesn't wow you enough you can sit on the beautiful deck & concrete patio surrounded by incredible landscaping, sprinkler system, full maintenance free fence & finished/heated garage w/floor drain & built in cabinets/workbench! You need nothing more!

10. 2020-10-30
    soldstatus $235,000

    Show marketing remark (819 chars)

    This newer home is the size of the single family version but in a well built twin home for a more affordable price. This one has not missed a single detail either w/the 12' ceilings, lots of windows for natural light, open floor plan w/double pantry & granite countertops, laundry w/built in cabinets for maximum storage on the upper level, huge master suite w/double sinks and glorious walk in closet, & the most beautiful details and finishes throughout including having the gas plumbing for a fireplace to be added in the main level! And if that doesn't wow you enough you can sit on the beautiful deck & concrete patio surrounded by incredible landscaping, sprinkler system, full maintenance free fence & finished/heated garage w/floor drain & built in cabinets/workbench! You need nothing more!

11. 2020-08-12
    listed $235,000 819-char remark

    Show marketing remark (819 chars)

    This newer home is the size of the single family version but in a well built twin home for a more affordable price. This one has not missed a single detail either w/the 12' ceilings, lots of windows for natural light, open floor plan w/double pantry & granite countertops, laundry w/built in cabinets for maximum storage on the upper level, huge master suite w/double sinks and glorious walk in closet, & the most beautiful details and finishes throughout including having the gas plumbing for a fireplace to be added in the main level! And if that doesn't wow you enough you can sit on the beautiful deck & concrete patio surrounded by incredible landscaping, sprinkler system, full maintenance free fence & finished/heated garage w/floor drain & built in cabinets/workbench! You need nothing more!

12. 2015-04-24
    soldstatus $196,787
13. 2014-07-22
    listed $195,100

ⓘ 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: $2,192 · $183/mo
• Projected year-2 tax: $3,185 · $265/mo
• Expected delta: +$992/yr (+$83/mo · 45.3%)

ⓘ 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 · 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: $38,184
• − Mortgage interest: −$18,205
• − Property taxes: −$2,192
• − Insurance: −$1,625
• − Repairs & maintenance: −$3,055
• − Management: −$3,055
• − Depreciation: −$9,455
• Taxable income: $597
• Est. tax owed @ 24.0%: −$143
• After-tax cash flow: $5,752/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: West Fargo 6
• NCES district ID: 3819410
• Math proficiency: 41% ▼ -10.00%
• Reading proficiency: 42% ▼ -10.00%
• Median HH income: $58,914
• Composite: 36.6/100
• National rank: #4628
• State rank: #26 of 53 in ND

Livability — Fargo

• Score: 85/100
• State rank: #1
• US rank: #605

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fargo, ND
• County: Cass County · 177,143 people
• City population: 130,876
• Metro: Fargo, ND-MN
• Population (ZIP): 49,168
• Household income: $85,747
• Rent vs Own: 54.6% rent · 45.4% own
• Severe rent burden: 2039.0

Population outlook (Cass County) Hauer SSP2

• Today (2025): 223,771 people
• By 2030: 251,835 · +12.5%
• By 2040: 311,816 · +39.3%
• By 2050: 378,694 · +69.2%
• By 2075: 571,386 · +155.3%
• By 2100: 769,727 · +244.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Black 7% Two or more races 5% Asian 4% Hispanic / Latino 2%
• Common ancestry: Portuguese 27% Lithuanian 4% Romanian 2%
• Foreign-born: 9% · Canada, China
• Languages at home: 92% English-only · Korean 1% Spanish 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Cass

• 2024 margin: Lean R (+8.4) · D 44.9% · R 53.3% · Other 1.9%
• 2008→2024 swing: -15.5pp toward R · 2008: 7.1pp · 2024: -8.4pp
• All cycles: 2024: R+8.4 2020: R+2.7 2016: R+10.7 2012: R+3.0 2008: D+7.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -78.58%
• Current HPI: 187.1707
• Rent YoY: ▲ 5.13%
• Metro: Fargo, ND-MN
• 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

+66.6% since first listed

13 events — show timeline

• 2026-04-25 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-18 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-10 Listed $325,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-11-07 Sold (Public Records) $300,000 Public Records
• 2025-11-07 Sold (MLS) $300,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-23 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-18 Price Changed $308,400 NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-10 Listed $309,900 NORTHSTARMLS as Distributed by MLS Grid
• 2020-10-30 Sold (Public Records) $235,000 Public Records
• 2020-10-30 Sold (MLS) $235,000 NORTHSTARMLS as Distributed by MLS Grid
• 2020-08-12 Listed $235,000 NORTHSTARMLS as Distributed by MLS Grid
• 2015-04-24 Sold (MLS) $196,787 NORTHSTARMLS as Distributed by MLS Grid
• 2014-07-22 Listed $195,100 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+1.4%/yr

Latest (2025): $2,192 · -4.7% YoY. Source: county tax records.