915 5th Ave

Cando, ND 58324

$60,000B

3 bd · 1.0 ba · 1,553 sqft · Built 1905 · Other · Active · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,181/mo
• Mortgage (P&I): −$315
• Tax + insurance: −$44
• HOA: −$0
• Vac / Maint / Mgmt: −$248
• Net cashflow: $575/mo
• Annual: $6,898/yr
• Cap rate: 17.79%
• Cash-on-cash: 41.06%
• DSCR: 2.83
• 1% rule: 1.97%
• Cash to close: $16,800

Investor read

• This is a 3-bed/1.0-bath other listed at $60k.
• At list price, monthly cash flow is $575 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $2k of equity ($415 loan paydown + $2k appreciation (3.0% local appreciation)).
• Location reads 70/100 on livability (#90 in ND) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• North Star 10 (rural): math 40% / reading 35% proficiency, ranked #113 of 169 in ND (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: North Star Elementary School (math 42% / reading 47%, grade F, #102 of 236 statewide, top 49%, 223 students, 30% FRL); North Star High School (math 24% / reading 75%, grade D+, #16 of 144 statewide, top 12%, 76 students, 32% FRL).
• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 10 active listings in the ZIP.
• Towner County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.
• 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.
• 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.