2254 Oak Ave NE · Emerado, ND 58228

$90,000

3 bd · 2.0 ba · 1,216 sqft · SingleFamily · 12 Days on market

Built 1998 Poor condition 4.53 ac lot Est $111k · 19% under

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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 +27.3/30.0
• ARV discount +15.0/15.0
• DSCR +9.5/10.0
• Appreciation +7.8/10.0
• 1% rule +7.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Schools +1.8/10.0
• Condition / age +1.0/5.0

Listing remarks MLS

Get away from the hustle & bustle of the city & into the serenity of the country. Enjoy the view of your 4.53 acres. This home needs work to be completed!

Key facts

• 4.53 acres
• Newer siding
• Steel roof

Tags

• DETACHED GARAGE
• NEWER WINDOWS
• NEWER SIDING
• STEEL ROOF
• 4.53 ACRES

Property features AI

Exterior

• Parking: 2-car garage
• Utilities: Propane
• Home design: Single-family residence; One story
• Construction: Vinyl siding; Slab foundation
• Exterior features: Approximately 4.53-acre lot

Interior

• Bathrooms: 1 full bathroom; 1 three-quarter bathroom
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: 6 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $90k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $261 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).

Location & tenants

• Location reads 65/100 on livability (#176 in ND) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: health & safety D+, schools F, amenities F.
• Emerado 127 (rural): math 11% / reading 20% proficiency, ranked #155 of 169 in ND (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 3 active listings in the ZIP; 133 units permitted in Grand Forks County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($622 loan paydown + $5k appreciation (5.7% local appreciation)).
• Grand Forks County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (5.7% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 11y 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 $90,000

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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.24% ✓
• Cap rate: 9.78%
• Cash-on-cash: 12.45%
• DSCR: 1.55
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $110,656
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2224 Oak Ave NE	0.16mi	3/2.0	1,316 (+8%)	21mo	$119,900	$91	62

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

5.68% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.0%
• Equity multiple: 2.62×
• Total profit: $40,937
• Equity at exit: $54,756

10-year hold

• IRR: 23.8%
• Equity multiple: 5.28×
• Total profit: $107,898
• Equity at exit: $97,761

Cash invested: $25,200 (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 58228

• Home prices YoY: 5.4%
• Active inventory: 3
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,118 medium
• Mortgage (P&I): −$472
• Tax est. 1.5%: −$112 /mo · $1,350/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$235
• Net cashflow: $261

Break-even live

Break-even rent $787

Max offer price $90,000

Occupancy floor 72%

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-03
   status $90,000 Pending 12 DOM
2. 2026-06-02
   days on market $90,000 Active 12 DOM
3. 2026-06-01
   days on market $90,000 Active 11 DOM
4. 2026-05-31
   days on market $90,000 Active 10 DOM
5. 2026-05-30
   days on market $90,000 Active 9 DOM
6. 2026-05-21
   listed $90,000 Active
7. 2017-04-18
   soldstatus 166-char remark

   Show marketing remark (166 chars)

   Get away from the hustle & bustle of the city & into the serenity of the country. Enjoy the view of your 4.53 acres. This home needs work to be completed!

8. 2016-04-15
   listed $45,000 166-char remark

   Show marketing remark (166 chars)

   Get away from the hustle & bustle of the city & into the serenity of the country. Enjoy the view of your 4.53 acres. This home needs work to be completed!

9. 2015-07-10
   listed $75,000

ⓘ 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 FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥96°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,418
• − Mortgage interest: −$5,041
• − Property taxes: −$1,350
• − Insurance: −$450
• − Repairs & maintenance: −$1,073
• − Management: −$1,073
• − Depreciation: −$2,618
• Taxable income: $1,812
• Est. tax owed @ 24.0%: −$435
• After-tax cash flow: $2,702/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 · 4 photos

Poor 20/100 Extensive rehab

This property requires extensive repairs and maintenance to bring it up to a livable condition. Significant work is needed on the exterior, roof, and landscaping to improve its value.

Repairs flagged

• Major siding — Significant wear and tear
• Major roof — No visible damage, but not inspected
• Major exterior — Weathered siding
• Major landscaping — Overgrown grass

Value-add opportunities

• Both paint exterior — Fresh paint can improve curb appeal and value
• Both repair siding — Fresh siding can improve appearance and value
• Both landscaping — Well-maintained landscaping can improve curb appeal and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
siding · Significant wear and tear	Major	$15,000–50,000
roof · No visible damage, but not inspected	Major	$15,000–50,000
exterior · Weathered siding	Major	$15,000–50,000
landscaping · Overgrown grass	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both paint exterior — Fresh paint can improve curb appeal and value ↑
• Both repair siding — Fresh siding can improve appearance and value ↑
• Both landscaping — Well-maintained landscaping can improve curb appeal and 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: Emerado 127
• NCES district ID: 3806360
• Math proficiency: 11% ▼ -4.00%
• Reading proficiency: 20% ▼ -5.00%
• Median HH income: $57,799
• Composite: 18.34/100
• National rank: #14055
• State rank: #155 of 169 in ND

Livability — Emerado

• Score: 65/100
• State rank: #176
• US rank: #12454

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 687

Population outlook (Grand Forks County) Hauer SSP2

• Today (2025): 80,606 people
• By 2030: 86,489 · +7.3%
• By 2040: 99,506 · +23.4%
• By 2050: 115,269 · +43.0%
• By 2075: 171,303 · +112.5%
• By 2100: 238,330 · +195.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Two or more races 6% Black 6% Native American 4% Hispanic / Latino 4%
• Common ancestry: Portuguese 22% Lithuanian 6% Romanian 2%
• Foreign-born: 7% · Canada
• Languages at home: 96% English-only · German/W. Germanic 1% Spanish 1% Other Asian/Pacific 1%

Political lean MEDSL · Grand Forks

• 2024 margin: R (+18.2) · D 40.1% · R 58.3% · Other 1.6%
• 2008→2024 swing: -23.3pp toward R · 2008: 5.1pp · 2024: -18.2pp
• All cycles: 2024: R+18.2 2020: R+13.3 2016: R+18.5 2012: R+3.5 2008: D+5.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.68%
• Current HPI: 110.2867
• 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

+20.0% since first listed

4 events — show timeline

• 2026-05-21 Listed $90,000 GFAAR
• 2017-04-18 Sold (MLS) — GFAAR
• 2016-04-15 Listed $45,000 GFAAR
• 2015-07-10 Listed $75,000 GFAAR