204 East St S · Cogswell, ND 58069

$60,000

3 bd · 1.0 ba · 1,584 sqft · SingleFamily · 17 Days on market

Built 1920 Fair condition 1.04 ac 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 +3.6/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Key facts

• Peaceful countryside
• Acre size lot
• 1.04 acre lot

Tags

• ACRE SIZE LOT
• PEACEFUL COUNTRYSIDE

Property features AI

Finance

• Other: Above-grade finished area approximately 1,584; Total living area approximately 1,584; Lot size about 1.044 acres; Directions: south side of Vivian St
• Financial info: $562 annual tax (2025)

Exterior

• Parking: Gravel parking
• Utilities: City water connected; Private sewer; Other fuel source
• Home design: Residential property; One and one-half story; Entry level details not provided
• Construction: Block foundation; Foundation area approximately 1,332
• Exterior features: Vinyl exterior; Multiple lots

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air; Wall and window air conditioning units
• Interior features: Basement with block foundation

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $60k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $518 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $59k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#184 in ND) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: health & safety C-, crime D+, amenities F.
• North Sargent 3 (rural): math 25% / reading 50% proficiency, ranked #108 of 169 in ND (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 17% free/reduced lunch — higher-income household profile.
• Zoned schools: North Sargent Elementary School (math 12% / reading 37%, grade F, #204 of 236 statewide, top 91%, 130 students, 43% FRL); North Sargent High School (math 24% / reading 75%, grade D+, #16 of 144 statewide, top 12%, 55 students, 46% FRL) — zoned schools average 44% FRL vs 17% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 2 active listings in the ZIP; 1 units permitted in Sargent County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($415 loan paydown + $2k appreciation (3.0% local appreciation)).
• Sargent County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($59k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $59,100 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
6. 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.
7. 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.
8. 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: 1.97% ✓
• Cap rate: 16.64%
• Cash-on-cash: 36.97%
• DSCR: 2.65
• GRM: 4.2

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: 42.6%
• Equity multiple: 3.39×
• Total profit: $40,212
• Equity at exit: $26,979

10-year hold

• IRR: 42.4%
• Equity multiple: 6.77×
• Total profit: $96,984
• Equity at exit: $41,577

Cash invested: $16,800 (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 58069

• Active inventory: 2
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,180 medium
• Mortgage (P&I): −$315
• Tax est. 1.5%: −$75 /mo · $900/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$248
• Net cashflow: $518

Break-even live

Break-even rent $525

Max offer price $60,000

Occupancy floor 51%

Sensitivity live

Price	-10% $559	-5% $538	+0% $518	+5% $497	+10% $476
Rent	-10% $424	-5% $471	+0% $518	+5% $564	+10% $611
Rate	-1.0pp $548	-0.5pp $533	base $518	+0.5pp $502	+1.0pp $486

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-21
   days on market $60,000 Active 17 DOM
2. 2026-06-21
   days on market $60,000 Active 16 DOM
3. 2026-06-18
   days on market $60,000 Active 14 DOM
4. 2026-06-17
   days on market $60,000 Active 13 DOM
5. 2026-06-16
   days on market $60,000 Active 12 DOM
6. 2026-06-15
   days on market $60,000 Active 11 DOM
7. 2026-06-13
   days on market $60,000 Active 9 DOM
8. 2026-06-12
   days on market $60,000 Active 8 DOM
9. 2026-06-09
   days on market $60,000 Active 5 DOM
10. 2026-06-08
    days on market $60,000 Active 4 DOM
11. 2026-06-07
    days on market $60,000 Active 3 DOM
12. 2026-06-05
    listed $60,000 Active 1 DOM

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°F today · 12 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,161
• − Mortgage interest: −$3,361
• − Property taxes: −$900
• − Insurance: −$300
• − Repairs & maintenance: −$1,133
• − Management: −$1,133
• − Depreciation: −$1,745
• Taxable income: $5,589
• Est. tax owed @ 24.0%: −$1,341
• After-tax cash flow: $4,870/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.

Condition & rehab AI · 13 photos

Fair 45/100 Moderate rehab

The home requires significant repairs and maintenance, including a new roof, exterior siding and paint, flooring, HVAC system, and landscaping. These updates would significantly increase its resale and rental value.

Repairs flagged

• Major roof — Significant wear and tear, with visible signs of damage.
• Major exterior siding — Severe peeling and discoloration.
• Major flooring — Old and in need of replacement.
• Major HVAC system — Old and may need replacement or repair.
• Major landscaping — Overgrown and in need of trimming and maintenance.

Value-add opportunities

• Both new roof — A new roof would significantly improve the home's appearance and increase its value.
• Both new exterior siding and paint — New siding and paint would improve the home's curb appeal and increase its value.
• Both new flooring — New flooring would improve the home's appearance and increase its value.
• Both HVAC system replacement — A new HVAC system would improve the home's comfort and increase its value.
• Both landscaping and trimming — A well-maintained landscape would improve the home's curb appeal and increase its value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Significant wear and tear, with visible signs of damage.	Major	$15,000–50,000
exterior siding · Severe peeling and discoloration.	Major	$15,000–50,000
flooring · Old and in need of replacement.	Major	$15,000–50,000
HVAC system · Old and may need replacement or repair.	Major	$15,000–50,000
landscaping · Overgrown and in need of trimming and maintenance.	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both new roof — A new roof would significantly improve the home's appearance and increase its value. ↑
• Both new exterior siding and paint — New siding and paint would improve the home's curb appeal and increase its value. ↑
• Both new flooring — New flooring would improve the home's appearance and increase its value. ↑
• Both HVAC system replacement — A new HVAC system would improve the home's comfort and increase its value. ↑
• Both landscaping and trimming — A well-maintained landscape would improve the home's curb appeal and increase its value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: North Sargent 3
• NCES district ID: 3814290
• Math proficiency: 25% ▲ 5.00%
• Reading proficiency: 50% ▲ 5.00%
• Median HH income: $57,720
• Composite: 35.64/100
• National rank: #9699
• State rank: #108 of 169 in ND

Livability — Cogswell

• Score: 65/100
• State rank: #184
• US rank: #12794

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 144

Population outlook (Sargent County) Hauer SSP2

• Today (2025): 3,960 people
• By 2030: 3,997 · +0.9%
• By 2040: 4,070 · +2.8%
• By 2050: 4,137 · +4.5%
• By 2075: 4,790 · +21.0%
• By 2100: 5,588 · +41.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (100%)
• Race & ethnicity: White 100%
• Common ancestry: Lithuanian 18% Romanian 15% Portuguese 7%
• Foreign-born: 13%

Political lean MEDSL · Sargent

• 2024 margin: Solid R (+32.7) · D 32.8% · R 65.5% · Other 1.8%
• 2008→2024 swing: -50.2pp toward R · 2008: 17.5pp · 2024: -32.7pp
• All cycles: 2024: R+32.7 2020: R+25.5 2016: R+20.0 2012: D+9.9 2008: D+17.5

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

1 event — show timeline

• 2026-06-04 Listed $60,000 NORTHSTARMLS as Distributed by MLS Grid