1419 4th Ave N · Fargo, ND 58102

$269,000

15 bd · 4.0 ba · 3,420 sqft · MultiFamily · 235 Days on market

Built 1900 7,492 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
• Livability +4.2/5.0
• Rent growth +3.7/5.0
• Schools +3.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 5 units. estimate disagrees with records

Listing remarks MLS

CASH FLOWING investment property located close to Downtown Fargo! Enjoy a lot of new in this 4-plex. Newer plumbing, electrical, gas furnace, flooring, kitchen cabinets, vinyl windows, updated baths, water heater, and more. Get this property added to your portfolio before it's too late!

Key facts

• Parking area
• Large back yard
• 7,492 sq ft lot

Tags

• TURN KEY RENTAL PROPERTY
• LARGE BACK YARD
• PARKING AREA

Property features AI

Finance

• Financial info: Gross annual income reported: $35,478; Owner pays all utilities; Rental license: Standard

Exterior

• Parking: 1-car garage
• Utilities: City water connected; City sewer connected; Electric and natural gas service
• Home design: Residential income property; Two-story building; Not owner-occupied
• Construction: Block foundation
• Exterior features: Stucco exterior; Lot about 0.172 acres

Interior

• Bedrooms: 16 bedrooms
• Heating & cooling: Baseboard heating; Forced air heating
• Interior features: Unfinished basement; Two levels

What this means for you Summary

Snapshot

• This is a 5 × 3-bed/?-bath units multifamily listed at $269k.

Deal economics

• At list price, monthly cash flow is $4k ($44k/yr) — positive. Per door: $726/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $269k).
• Recommended offer: $237k (12.0% below list) — sets the bar for market timing.
• Cap rate 22.5% vs local median 2.5% in Fargo — 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 85/100 on livability (#1 in ND, #605 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F.
• Fargo 1 (urban): math 41% / reading 44% proficiency, ranked #28 of 53 in ND (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Horace Mann Roosevelt Elementary School (math 37% / reading 37%, grade F, #152 of 236 statewide, top 68%, 368 students, 53% FRL); Ben Franklin Middle School (math 52% / reading 47%, grade C, #6 of 35 statewide, top 18%, 883 students, 32% FRL); North High School (math 45% / reading 63%, grade C-, #13 of 144 statewide, top 8%, 1,083 students, 26% FRL).
• Market conditions: Rents rising fast (+4.7%/yr); 205 active listings in the ZIP; 1,218 units permitted in Cass County in 2024 (410 in 5+ unit buildings).
• At $6,949/mo this rent would consume 140% of the median local household income ($60k/yr) (locally 1919% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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.
• At projected returns (-3.0% appreciation + 4.7% rent growth), your $75k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 235 days — a 12% lower offer ($237k) is reasonable based on typical stale-listing flexibility.
• 6 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $236,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 235 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Crime grade is F 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.58% ✓
• Cap rate: 22.49%
• Cash-on-cash: 57.84%
• DSCR: 3.57
• GRM: 3.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.71% rent growth · sell at horizon

5-year hold

• IRR: 58.3%
• Equity multiple: 3.65×
• Total profit: $199,916
• Equity at exit: $40,109

10-year hold

• IRR: 63.8%
• Equity multiple: 7.96×
• Total profit: $523,940
• Equity at exit: $23,258

Cash invested: $75,320 (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 58102

• Rents YoY: 4.7%
• Active inventory: 205
• Price-to-rent: 16.1×

Monthly cashflow live

• Estimated rent: $6,949 high
• Mortgage (P&I): −$1,411
• Tax est. 1.5%: −$336 /mo · $4,035/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,459
• Net cashflow: $3,631

Break-even live

Break-even rent $2,353

Max offer price $269,000

Occupancy floor 43%

Sensitivity live

Price	-10% $3,817	-5% $3,724	+0% $3,631	+5% $3,538	+10% $3,445
Rent	-10% $3,082	-5% $3,356	+0% $3,631	+5% $3,905	+10% $4,180
Rate	-1.0pp $3,766	-0.5pp $3,699	base $3,631	+0.5pp $3,561	+1.0pp $3,490

5-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 5× units	3	—	$6,950
Total (5 units)			$6,949

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: $67,250
• Closing costs: $8,070
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-21
   days on market $269,000 Active 235 DOM
2. 2026-06-18
   days on market $269,000 Active 232 DOM
3. 2026-06-17
   days on market $269,000 Active 231 DOM
4. 2026-06-16
   days on market $269,000 Active 230 DOM
5. 2026-06-15
   days on market $269,000 Active 229 DOM
6. 2026-06-14
   days on market $269,000 Active 227 DOM
7. 2026-06-13
   days on market $269,000 Active 226 DOM
8. 2026-06-10
   days on market $269,000 Active 224 DOM
9. 2026-06-09
   days on market $269,000 Active 223 DOM
10. 2026-06-08
    days on market $269,000 Active 222 DOM
11. 2026-06-07
    days on market $269,000 Active 221 DOM
12. 2026-06-02
    days on market $269,000 Active 216 DOM
13. 2026-06-01
    days on market $269,000 Active 215 DOM
14. 2026-05-31
    days on market $269,000 Active 214 DOM
15. 2026-05-30
    days on market $269,000 Active 213 DOM
16. 2025-10-29
    listed $269,000 Active
17. 2025-06-21
    historical
18. 2025-05-02
    listed $280,000 Active
19. 2022-02-21
    soldstatus $260,000 287-char remark

    Show marketing remark (287 chars)

    CASH FLOWING investment property located close to Downtown Fargo! Enjoy a lot of new in this 4-plex. Newer plumbing, electrical, gas furnace, flooring, kitchen cabinets, vinyl windows, updated baths, water heater, and more. Get this property added to your portfolio before it's too late!

20. 2022-01-17
    listed $270,000 287-char remark

    Show marketing remark (287 chars)

    CASH FLOWING investment property located close to Downtown Fargo! Enjoy a lot of new in this 4-plex. Newer plumbing, electrical, gas furnace, flooring, kitchen cabinets, vinyl windows, updated baths, water heater, and more. Get this property added to your portfolio before it's too late!

21. 2019-08-21
    historical
22. 2019-05-21
    listed $239,900
23. 2019-03-31
    historical
24. 2018-11-15
    listed $269,900
25. 2015-06-05
    soldstatus $90,300
26. 2015-04-17
    listed $88,100

ⓘ 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 (shaded) · 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: $83,388
• − Mortgage interest: −$15,068
• − Property taxes: −$4,035
• − Insurance: −$1,345
• − Repairs & maintenance: −$6,671
• − Management: −$6,671
• − Depreciation: −$7,825
• Taxable income: $41,772
• Est. tax owed @ 24.0%: −$10,025
• After-tax cash flow: $33,543/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: Fargo 1
• NCES district ID: 3806780
• Math proficiency: 41% ▼ -7.00%
• Reading proficiency: 44% ▼ -7.00%
• Median HH income: $46,524
• Composite: 36.23/100
• National rank: #4721
• State rank: #28 of 53 in ND

Livability — Fargo

• Score: 85/100
• State rank: #1
• US rank: #605

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fargo, ND
• County: Cass County · 177,143 people
• City population: 130,876
• Metro: Fargo, ND-MN
• Population (ZIP): 32,912
• Household income: $59,533
• Rent vs Own: 53.8% rent · 46.2% own
• Severe rent burden: 1919.0

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 (84%)
• Race & ethnicity: White 84% Hispanic / Latino 5% Two or more races 5% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Portuguese 27% Romanian 3% Scottish 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 92% English-only · Spanish 3% Other Indo-European 2%

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: ▼ -171.16%
• Current HPI: 155.885
• Rent YoY: ▲ 4.71%
• 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

+205.3% since first listed

11 events — show timeline

• 2025-10-29 Listed $269,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-06-21 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-05-02 Listed $280,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-02-21 Sold (MLS) $260,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-01-17 Listed $270,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-08-21 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2019-05-21 Listed $239,900 NORTHSTARMLS as Distributed by MLS Grid
• 2019-03-31 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2018-11-15 Listed $269,900 NORTHSTARMLS as Distributed by MLS Grid
• 2015-06-05 Sold (MLS) $90,300 NORTHSTARMLS as Distributed by MLS Grid
• 2015-04-17 Listed $88,100 NORTHSTARMLS as Distributed by MLS Grid