6718 69th Ave S · Horace, ND 58047

$289,900

2 bd · 2.0 ba · 901 sqft · SingleFamily public records · 74 Days on market

Built 2022 Good condition 5,270 sqft lot

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +6.3/30.0
• Condition / age +4.0/5.0
• Schools +3.7/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• 1% rule +1.3/10.0
• DSCR +0.6/10.0
• Appreciation +0.0/10.0

Key facts

• 5,270 sq ft lot
• 2 garage spots
• Built 2022

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: City water; City sewer; Natural gas
• Home design: Residential property; Split entry (bi-level) design; Entry level: Main; Roof under 8 years old
• Construction: Concrete foundation; Roof replaced within last 8 years
• Exterior features: Stone and vinyl exterior; Partial fencing; Deck; Lot approximately 44 x 125 (0.121 acres)

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator; Kitchen center island; Kitchen window
• Bedrooms: 3 bedrooms (all on main level)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Dishwasher; Dryer; Microwave; Range; Refrigerator; Washer; Concrete basement; Deck; Primary bedroom walk-in closet; Kitchen center island; Kitchen window
• Laundry & utility: Washer and dryer; Laundry in basement

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $290k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-515 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $199k (31.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $181k (37.4% below list).
• Recommended offer: $181k (37.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 74/100 on livability (#29 in ND, #4,718 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: cost of living C-, health & safety D+, amenities 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.
• Zoned schools: Osgood Elem School (math 41% / reading 39%, grade F, #132 of 236 statewide, top 57%, 564 students, 37% FRL); Liberty Middle School (math 33% / reading 39%, grade F, #23 of 35 statewide, top 65%, 1,102 students, 23% FRL); West Fargo Sheyenne High School (math 29% / reading 37%, grade F, #84 of 144 statewide, top 58%, 1,473 students, 20% FRL) — zoned schools at 27% FRL track the district average.
• Market conditions: 460 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 1,218 units permitted in Cass County in 2024 (410 in 5+ unit buildings).
• This rent is only 15% of the median local income ($142k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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 74 days — a 6% lower offer ($273k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y ago; this cycle's ask has dropped $20k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $250k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $181,405 (37.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 37% concession, seller financing, or rate buy-down credit?
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 A-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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.63% ✗
• Cap rate: 4.16%
• Cash-on-cash: -7.61%
• DSCR: 0.66
• GRM: 13.3

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: -29.6%
• Equity multiple: 0.02×
• Total profit: $-79,766
• Equity at exit: $43,225

10-year hold

• IRR: -30.5%
• Equity multiple: -0.38×
• Total profit: $-111,700
• Equity at exit: $25,065

Cash invested: $81,172 (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 58047

• Active inventory: 460
• Price-to-rent: 13.3×

Monthly cashflow live

• Estimated rent: $1,814 medium
• Mortgage (P&I): −$1,520
• Tax from tax record: −$307 /mo · $3,681/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$381
• Net cashflow: $-515

Break-even live

Break-even rent $2,466

Max offer price $198,971

Occupancy floor —

Sensitivity live

Price	-10% $-351	-5% $-433	+0% $-515	+5% $-597	+10% $-679
Rent	-10% $-658	-5% $-586	+0% $-515	+5% $-443	+10% $-371
Rate	-1.0pp $-369	-0.5pp $-441	base $-515	+0.5pp $-590	+1.0pp $-666

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: $72,475
• Closing costs: $8,697
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7994 Jacks Way Horace, ND	1.0–2.0	1.0–2.0	898	$1,599	$1.78	15d	16	0.85mi

Listing history 32 events

1. 2026-06-21
   days on market $289,900 Active 74 DOM
2. 2026-06-18
   days on market $289,900 Active 71 DOM
3. 2026-06-17
   days on market $289,900 Active 70 DOM
4. 2026-06-16
   days on market $289,900 Active 69 DOM
5. 2026-06-15
   days on market $289,900 Active 68 DOM
6. 2026-06-14
   days on market $289,900 Active 66 DOM
7. 2026-06-13
   days on market $289,900 Active 65 DOM
8. 2026-06-10
   pricedays on market $289,900 Active 63 DOM
9. 2026-06-09
   days on market $294,900 Active 62 DOM
10. 2026-06-08
    days on market $294,900 Active 61 DOM
11. 2026-06-07
    days on market $294,900 Active 60 DOM
12. 2026-06-05
    days on market $294,900 Active 57 DOM
13. 2026-06-03
    days on market $294,900 Active 56 DOM
14. 2026-06-02
    days on market $294,900 Active 55 DOM
15. 2026-06-01
    days on market $294,900 Active 54 DOM
16. 2026-05-31
    days on market $294,900 Active 53 DOM
17. 2026-05-30
    days on market $294,900 Active 52 DOM
18. 2026-05-13
    price $299,900
19. 2026-04-24
    price $304,900
20. 2026-04-08
    listed $309,900 Active
21. 2025-12-23
    historical
22. 2025-12-16
    price $286,900
23. 2025-12-01
    price $287,900
24. 2025-09-26
    listed $289,900 Active
25. 2025-07-21
    historical
26. 2025-07-11
    price $295,000
27. 2025-06-16
    price $299,800
28. 2025-06-09
    price $302,900
29. 2025-05-27
    listed $304,900 Active
30. 2022-08-15
    soldstatus $250,051
31. 2022-08-15
    soldstatus $31,500
32. 2022-08-14
    listed $250,051

ⓘ 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: $3,681 · $307/mo
• Projected year-2 tax: $3,681 · $307/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 · 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: $21,769
• − Mortgage interest: −$16,239
• − Property taxes: −$3,681
• − Insurance: −$1,450
• − Repairs & maintenance: −$1,741
• − Management: −$1,741
• − Depreciation: −$8,433
• Taxable loss: −$11,517
• Est. tax savings @ 24.0%: +$2,764
• After-tax cash flow: $-3,413/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 · 12 photos

Good 80/100 Cosmetic rehab

This home is in good condition with a good exterior and interior. It has a good foundation and structure. The home is move-in ready with minor cosmetic updates that would increase its value.

Value-add opportunities

• Both Paint exterior trim — Enhances curb appeal and value
• Both Replace carpet with hardwood — Improves aesthetics and is easier to maintain
• Both Install new windows — Better energy efficiency and increased curb appeal

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior trim — Enhances curb appeal and value ↑
• Both Replace carpet with hardwood — Improves aesthetics and is easier to maintain ↑
• Both Install new windows — Better energy efficiency and increased curb appeal ↑

ⓘ 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: 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 — Horace

• Score: 74/100
• State rank: #29
• US rank: #4718

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Horace, ND
• County: Cass County · 177,143 people
• City population: 5,636
• Metro: Fargo, ND-MN
• Population (ZIP): 5,636
• Household income: $142,361
• Rent vs Own: 4.7% rent · 95.3% own
• Severe rent burden: 8.0

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 (89%)
• Race & ethnicity: White 89% Hispanic / Latino 6% Two or more races 4% Black 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2%
• Common ancestry: Portuguese 26% Scotch-Irish 7% Lithuanian 4%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 4%

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: ▼ -113.83%
• Current HPI: 178.7028
• Rent YoY: —
• 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

+19.9% since first listed

15 events — show timeline

• 2026-05-13 Price Changed $299,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-24 Price Changed $304,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-08 Listed $309,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-12-23 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-12-16 Price Changed $286,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-12-01 Price Changed $287,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-26 Listed $289,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-07-21 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-07-11 Price Changed $295,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-06-16 Price Changed $299,800 NORTHSTARMLS as Distributed by MLS Grid
• 2025-06-09 Price Changed $302,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-05-27 Listed $304,900 NORTHSTARMLS as Distributed by MLS Grid
• 2022-08-15 Sold (Public Records) $31,500 Public Records
• 2022-08-15 Sold (MLS) $250,051 NORTHSTARMLS as Distributed by MLS Grid
• 2022-08-14 Listed $250,051 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+131.8%/yr

Latest (2025): $3,681 · +8.3% YoY. Source: county tax records.