223 N 19th St · Bismarck, ND 58501

$117,500

3 bd · 2.0 ba · 1,770 sqft · Other · 387 Days on market

Built 1929 7,501 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 +23.3/30.0
• DSCR +7.5/10.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• Rent growth +5.0/5.0
• Livability +4.0/5.0
• Schools +3.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cute and cozy. Garage has been converted to family room.

Key facts

• 7,501 sq ft lot
• Built 1929
• Listed 386 days

Property features AI

Exterior

• Parking: On-street parking; Off-street parking; No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Stucco exterior
• Exterior features: Private yard; Corner lot; Level, rectangular lot; Lot dimensions approximately 50 x 150 (0.17 acres)

Interior

• Kitchen: Oven; Range; Refrigerator
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Oven; Range; Refrigerator; Partially finished concrete basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $118k.

Deal economics

• At list price, monthly cash flow is $215 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $118k).
• Recommended offer: $103k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 3.1% in Bismarck — 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 79/100 on livability (#5 in ND, #2,213 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: crime C-, amenities D+, commute F.
• Bismarck 1 (urban): math 41% / reading 42% proficiency, ranked #25 of 53 in ND (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 19% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+10.8%/yr); 127 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 259 units permitted in Burleigh County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $812 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Burleigh County population projected at +61% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $33k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 387 days — a 12% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 27y ago; this cycle's ask has dropped $52k (30%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $62k; list at $118k implies a 90% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $103,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 387 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1929 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.13% ✓
• Cap rate: 8.48%
• Cash-on-cash: 7.83%
• DSCR: 1.35
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 1.3%
• Equity multiple: 1.05×
• Total profit: $1,678
• Equity at exit: $17,520

10-year hold

• IRR: 15.4%
• Equity multiple: 2.55×
• Total profit: $51,125
• Equity at exit: $10,159

Cash invested: $32,900 (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 58501

• Rents YoY: 10.8%
• Active inventory: 127
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,327 medium
• Mortgage (P&I): −$616
• Tax from tax record: −$169 /mo · $2,025/yr
• Insurance: −$49
• HOA: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $215

Break-even live

Break-even rent $1,056

Max offer price $117,500

Occupancy floor 79%

Sensitivity live

Price	-10% $281	-5% $248	+0% $215	+5% $181	+10% $148
Rent	-10% $110	-5% $162	+0% $215	+5% $267	+10% $319
Rate	-1.0pp $274	-0.5pp $245	base $215	+0.5pp $184	+1.0pp $153

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: $29,375
• Closing costs: $3,525
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2220 East Avenue A Unit 1/2 Bismarck, ND	3.0	1.0	1227	$1,150	$0.94	22d	1	0.30mi
505 1/2 S 10th St Bismarck, ND	3.0	1.0	1500	$1,600	$1.07	22d	1	0.79mi
1121 N 12th St Unit Main Bismarck, ND	3.0	1.0	1600	$1,500	$0.94	22d	1	0.87mi

Listing history 43 events

1. 2026-06-21
   days on market $117,500 Active 387 DOM
2. 2026-06-19
   days on market $117,500 Active 385 DOM
3. 2026-06-18
   days on market $117,500 Active 384 DOM
4. 2026-06-17
   price $117,500 Active 383 DOM
5. 2026-06-17
   days on market $119,500 Active 383 DOM
6. 2026-06-16
   days on market $119,500 Active 382 DOM
7. 2026-06-15
   days on market $119,500 Active 381 DOM
8. 2026-06-14
   days on market $119,500 Active 379 DOM
9. 2026-06-13
   days on market $119,500 Active 378 DOM
10. 2026-06-10
    days on market $119,500 Active 376 DOM
11. 2026-06-09
    days on market $119,500 Active 375 DOM
12. 2026-06-08
    days on market $119,500 Active 374 DOM
13. 2026-06-07
    days on market $119,500 Active 373 DOM
14. 2026-06-05
    days on market $119,500 Active 370 DOM
15. 2026-06-03
    days on market $119,500 Active 369 DOM
16. 2026-06-02
    days on market $119,500 Active 368 DOM
17. 2026-06-01
    days on market $119,500 Active 367 DOM
18. 2026-05-31
    days on market $119,500 Active 366 DOM
19. 2026-05-30
    days on market $119,500 Active 365 DOM
20. 2026-05-10
    price $119,500
21. 2026-04-28
    price $121,500
22. 2026-04-09
    price $126,500
23. 2026-03-03
    price $128,500
24. 2026-02-19
    status Active
25. 2026-02-19
    historical
26. 2026-02-19
    status Active
27. 2026-01-19
    status Pending
28. 2025-12-27
    price $130,500
29. 2025-10-15
    price $132,000
30. 2025-09-29
    price $136,500
31. 2025-09-20
    price $146,500
32. 2025-08-29
    price $149,500
33. 2025-07-09
    price $152,500
34. 2025-06-30
    price $157,400
35. 2025-06-12
    price $159,900
36. 2025-06-02
    price $161,500
37. 2025-05-24
    price $164,000
38. 2025-04-30
    listed $169,000 Active
39. 2007-06-18
    soldstatus $62,000
40. 2003-12-11
    soldstatus 56-char remark

    Show marketing remark (56 chars)

    Cute and cozy. Garage has been converted to family room.

41. 2003-08-12
    listed $49,900 56-char remark

    Show marketing remark (56 chars)

    Cute and cozy. Garage has been converted to family room.

42. 2000-02-25
    soldstatus 286-char remark

    Show marketing remark (286 chars)

    * ATTACHED GAR CONVERT ED TO FMLYRM IN '97 & 96 SF IS ENCLOSED PORCH-NEW CARPET ONMAIN FLR-UPDATED WIRING-SOME NEW WINDOWS-EXTERIOR RECENTLY PAINTED-UPDATED FURNACE-NEWER APPLIANCES-SAT DISH INCLUDED-INC C/A UNIT NOT HOOKUP. Fenced Yard. Other Rooms - Office/Den. Basement - FULL.

43. 1999-09-28
    listed $36,500 286-char remark

    Show marketing remark (286 chars)

    * ATTACHED GAR CONVERT ED TO FMLYRM IN '97 & 96 SF IS ENCLOSED PORCH-NEW CARPET ONMAIN FLR-UPDATED WIRING-SOME NEW WINDOWS-EXTERIOR RECENTLY PAINTED-UPDATED FURNACE-NEWER APPLIANCES-SAT DISH INCLUDED-INC C/A UNIT NOT HOOKUP. Fenced Yard. Other Rooms - Office/Den. Basement - FULL.

ⓘ 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: $2,025 · $169/mo
• Projected year-2 tax: $2,025 · $169/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 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥97°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: $15,927
• − Mortgage interest: −$6,582
• − Property taxes: −$2,025
• − Insurance: −$588
• − Repairs & maintenance: −$1,274
• − Management: −$1,274
• − Depreciation: −$3,418
• Taxable income: $766
• Est. tax owed @ 24.0%: −$184
• After-tax cash flow: $2,392/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: Bismarck 1
• NCES district ID: 3800014
• Math proficiency: 41% ▼ -5.00%
• Reading proficiency: 42% ▼ -6.00%
• Median HH income: $60,649
• Composite: 36.76/100
• National rank: #4577
• State rank: #25 of 53 in ND

Livability — Bismarck

• Score: 79/100
• State rank: #5
• US rank: #2213

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bismarck, ND
• County: Burleigh County · 97,300 people
• City population: 97,300
• Metro: Bismarck, ND
• Population (ZIP): 29,405
• Household income: $68,755
• Rent vs Own: 37.3% rent · 62.7% own
• Severe rent burden: 865.0

Population outlook (Burleigh County) Hauer SSP2

• Today (2025): 119,359 people
• By 2030: 133,047 · +11.5%
• By 2040: 161,545 · +35.3%
• By 2050: 191,960 · +60.8%
• By 2075: 274,569 · +130.0%
• By 2100: 350,910 · +194.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Native American 5% Two or more races 5% Black 4% Hispanic / Latino 4%
• Common ancestry: Portuguese 14% Scotch-Irish 3% Lithuanian 3%
• Foreign-born: 4% · Canada
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Burleigh

• 2024 margin: Solid R (+43.2) · D 27.5% · R 70.7% · Other 1.8%
• 2008→2024 swing: -19.7pp toward R · 2008: -23.6pp · 2024: -43.2pp
• All cycles: 2024: R+43.2 2020: R+40.2 2016: R+46.1 2012: R+32.1 2008: R+23.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -260.24%
• Current HPI: 218.67
• Rent YoY: ▲ 10.82%
• Metro: Bismarck, ND
• 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

+227.4% since first listed

24 events — show timeline

• 2026-05-10 Price Changed $119,500 GNMLS
• 2026-04-28 Price Changed $121,500 GNMLS
• 2026-04-09 Price Changed $126,500 GNMLS
• 2026-03-03 Price Changed $128,500 GNMLS
• 2026-02-19 Relisted — GNMLS
• 2026-02-19 Delisted — GNMLS
• 2026-02-19 Relisted — GNMLS
• 2026-01-19 Pending — GNMLS
• 2025-12-27 Price Changed $130,500 GNMLS
• 2025-10-15 Price Changed $132,000 GNMLS
• 2025-09-29 Price Changed $136,500 GNMLS
• 2025-09-20 Price Changed $146,500 GNMLS
• 2025-08-29 Price Changed $149,500 GNMLS
• 2025-07-09 Price Changed $152,500 GNMLS
• 2025-06-30 Price Changed $157,400 GNMLS
• 2025-06-12 Price Changed $159,900 GNMLS
• 2025-06-02 Price Changed $161,500 GNMLS
• 2025-05-24 Price Changed $164,000 GNMLS
• 2025-04-30 Listed $169,000 GNMLS
• 2007-06-18 Sold (Public Records) $62,000 Public Records
• 2003-12-11 Sold (MLS) — GNMLS
• 2003-08-12 Listed $49,900 GNMLS
• 2000-02-25 Sold (MLS) — GNMLS
• 1999-09-28 Listed $36,500 GNMLS

Property tax history

+6.1%/yr

Latest (2025): $2,025 · +3.3% YoY. Source: county tax records.