904 Washington Ave · Hebron, ND 58638

$32,000

2 bd · 1.0 ba · 752 sqft · Other · 69 Days on market

Built 1951 6,500 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 +4.9/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Great investment opportunity. This fixer-upper has a partial bathroom on the main floor, a kitchen, bedroom and living room with a French door leading to the enclosed deck. There is an enclosed porch on the side of the house leading to the kitchen and basement. The laundry and non-conforming bedroom are in the basement. The fenced back yard has a large shed that would hold one car with room to spare. Hebron has a lot to offer as a community. It is 40 minutes to Dickinson, 65 minutes to Bismarck, and 50 minutes to Beulah. Great opportunity to have a nice home with some handyman work. It is a work in progress, with remodeling started. seller will offer owner financing with suitable offer

Key facts

• Fenced back yard
• Enclosed deck
• Enclosed porch

Tags

• ENCLOSED DECK
• ENCLOSED PORCH
• FENCED BACK YARD
• LARGE SHED

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $32k.

Deal economics

• At list price, monthly cash flow is $385 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($843 rent vs $32k).
• Recommended offer: $30k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#86 in ND) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B; Watch: crime C-, health & safety D+, amenities F.
• Hebron 13 (rural): math 55% / reading 55% proficiency, ranked #22 of 169 in ND (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 15 active listings in the ZIP; 94 units permitted in Morton County in 2024 (5 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($221 loan paydown + $960 appreciation (3.0% local appreciation)).
• Morton County population projected at +48% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $9k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($30k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $3k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $14k; list at $32k implies a 137% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.7% of price; built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $30,080 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 2.63% ✓
• Cap rate: 20.74%
• Cash-on-cash: 51.59%
• DSCR: 3.30
• GRM: 3.2

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: 56.7%
• Equity multiple: 4.17×
• Total profit: $28,437
• Equity at exit: $14,389

10-year hold

• IRR: 56.4%
• Equity multiple: 8.47×
• Total profit: $66,924
• Equity at exit: $22,175

Cash invested: $8,960 (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 58638

• Active inventory: 15
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $843 medium
• Mortgage (P&I): −$168
• Tax from tax record: −$100 /mo · $1,195/yr
• Insurance: −$13
• HOA: −$0
• Vacancy / Maint / Mgmt: −$177
• Net cashflow: $385

Break-even live

Break-even rent $355

Max offer price $32,000

Occupancy floor 49%

Sensitivity live

Price	-10% $403	-5% $394	+0% $385	+5% $376	+10% $367
Rent	-10% $319	-5% $352	+0% $385	+5% $418	+10% $452
Rate	-1.0pp $401	-0.5pp $393	base $385	+0.5pp $377	+1.0pp $368

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: $8,000
• Closing costs: $960
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-03-31
   status Pending

   Show marketing remark (694 chars)

   Great investment opportunity. This fixer-upper has a partial bathroom on the main floor, a kitchen, bedroom and living room with a French door leading to the enclosed deck. There is an enclosed porch on the side of the house leading to the kitchen and basement. The laundry and non-conforming bedroom are in the basement. The fenced back yard has a large shed that would hold one car with room to spare. Hebron has a lot to offer as a community. It is 40 minutes to Dickinson, 65 minutes to Bismarck, and 50 minutes to Beulah. Great opportunity to have a nice home with some handyman work. It is a work in progress, with remodeling started. seller will offer owner financing with suitable offer

2. 2026-03-31
   status Pending 694-char remark

   Show marketing remark (694 chars)

   Great investment opportunity. This fixer-upper has a partial bathroom on the main floor, a kitchen, bedroom and living room with a French door leading to the enclosed deck. There is an enclosed porch on the side of the house leading to the kitchen and basement. The laundry and non-conforming bedroom are in the basement. The fenced back yard has a large shed that would hold one car with room to spare. Hebron has a lot to offer as a community. It is 40 minutes to Dickinson, 65 minutes to Bismarck, and 50 minutes to Beulah. Great opportunity to have a nice home with some handyman work. It is a work in progress, with remodeling started. seller will offer owner financing with suitable offer

3. 2026-02-16
   price $32,000 694-char remark

   Show marketing remark (694 chars)

   Great investment opportunity. This fixer-upper has a partial bathroom on the main floor, a kitchen, bedroom and living room with a French door leading to the enclosed deck. There is an enclosed porch on the side of the house leading to the kitchen and basement. The laundry and non-conforming bedroom are in the basement. The fenced back yard has a large shed that would hold one car with room to spare. Hebron has a lot to offer as a community. It is 40 minutes to Dickinson, 65 minutes to Bismarck, and 50 minutes to Beulah. Great opportunity to have a nice home with some handyman work. It is a work in progress, with remodeling started. seller will offer owner financing with suitable offer

4. 2026-02-16
   price $32,000

   Show marketing remark (694 chars)

   Great investment opportunity. This fixer-upper has a partial bathroom on the main floor, a kitchen, bedroom and living room with a French door leading to the enclosed deck. There is an enclosed porch on the side of the house leading to the kitchen and basement. The laundry and non-conforming bedroom are in the basement. The fenced back yard has a large shed that would hold one car with room to spare. Hebron has a lot to offer as a community. It is 40 minutes to Dickinson, 65 minutes to Bismarck, and 50 minutes to Beulah. Great opportunity to have a nice home with some handyman work. It is a work in progress, with remodeling started. seller will offer owner financing with suitable offer

5. 2026-01-20
   listed $35,000 Active

   Show marketing remark (694 chars)

   Great investment opportunity. This fixer-upper has a partial bathroom on the main floor, a kitchen, bedroom and living room with a French door leading to the enclosed deck. There is an enclosed porch on the side of the house leading to the kitchen and basement. The laundry and non-conforming bedroom are in the basement. The fenced back yard has a large shed that would hold one car with room to spare. Hebron has a lot to offer as a community. It is 40 minutes to Dickinson, 65 minutes to Bismarck, and 50 minutes to Beulah. Great opportunity to have a nice home with some handyman work. It is a work in progress, with remodeling started. seller will offer owner financing with suitable offer

6. 2026-01-20
   listed $35,000 Active 694-char remark

   Show marketing remark (694 chars)

   Great investment opportunity. This fixer-upper has a partial bathroom on the main floor, a kitchen, bedroom and living room with a French door leading to the enclosed deck. There is an enclosed porch on the side of the house leading to the kitchen and basement. The laundry and non-conforming bedroom are in the basement. The fenced back yard has a large shed that would hold one car with room to spare. Hebron has a lot to offer as a community. It is 40 minutes to Dickinson, 65 minutes to Bismarck, and 50 minutes to Beulah. Great opportunity to have a nice home with some handyman work. It is a work in progress, with remodeling started. seller will offer owner financing with suitable offer

7. 2025-12-02
   soldstatus
8. 2011-07-07
   soldstatus $13,500

ⓘ 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: $1,195 · $100/mo
• Projected year-2 tax: $1,195 · $100/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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥95°F today · 12 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,115
• − Mortgage interest: −$1,792
• − Property taxes: −$1,195
• − Insurance: −$160
• − Repairs & maintenance: −$809
• − Management: −$809
• − Depreciation: −$931
• Taxable income: $4,418
• Est. tax owed @ 24.0%: −$1,060
• After-tax cash flow: $3,562/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: Hebron 13
• NCES district ID: 3809180
• Math proficiency: 55% ▬ 0.00%
• Reading proficiency: 55% ▬ 0.00%
• Median HH income: $51,358
• Composite: 48.87/100
• National rank: #4493
• State rank: #22 of 169 in ND

Livability — Hebron

• Score: 70/100
• State rank: #86
• US rank: #7926

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hebron, ND
• Population (ZIP): 949

Population outlook (Morton County) Hauer SSP2

• Today (2025): 36,682 people
• By 2030: 39,967 · +9.0%
• By 2040: 46,921 · +27.9%
• By 2050: 54,157 · +47.6%
• By 2075: 73,661 · +100.8%
• By 2100: 89,885 · +145.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 7% Native American 3% Hispanic / Latino 2%
• Common ancestry: Portuguese 19% Romanian 4% Scotch-Irish 4%
• Foreign-born: 0%

Political lean MEDSL · Morton

• 2024 margin: Solid R (+53.8) · D 22.2% · R 75.9% · Other 1.9%
• 2008→2024 swing: -32.7pp toward R · 2008: -21.0pp · 2024: -53.8pp
• All cycles: 2024: R+53.8 2020: R+50.4 2016: R+53.0 2012: R+31.1 2008: R+21.0

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

+137.0% since first listed

8 events — show timeline

• 2026-03-31 Pending — Badlands BOR MLS
• 2026-03-31 Pending — GNMLS
• 2026-02-16 Price Changed $32,000 GNMLS
• 2026-02-16 Price Changed $32,000 Badlands BOR MLS
• 2026-01-20 Listed $35,000 GNMLS
• 2026-01-20 Listed $35,000 Badlands BOR MLS
• 2025-12-02 Sold (Public Records) — Public Records
• 2011-07-07 Sold (Public Records) $13,500 Public Records

Property tax history

+17.3%/yr

Latest (2025): $1,195 · +6.1% YoY. Source: county tax records.