4711 Harvest Dr S · Fargo, ND 58104

$275,000

3 bd · 2.0 ba · 1,043 sqft · MultiFamily public records · 19 Days on market

Built 2007 5,096 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 +25.8/30.0
• DSCR +8.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Livability +4.2/5.0
• Rent growth +3.8/5.0
• Schools +3.7/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Spacious 3 bed/2 bath 2086 sq. ft. twinhome in great South Fargo location! This well maintained home features an open floor plan with a huge kitchen island and tons of cupboard storage. The upstairs master is enormous and has a large w/in closet and Hollywood bath. There are two more bedrooms and a bath on the lower level and a great living space with a fireplace. Top it off with the 23' X 27'' finished garage and great curb appeal and this is a wonderful place to call your new home! OPEN HOUSE SUNDAY, JUNE 9th, 1-2:30 IF NOT SOLD BEFORE THEN!!(Washer and dryer included and property is not in the floodplain!)

Key facts

• New stove
• Laminate throughout
• Walk-in-closet

Tags

• MASSIVE KITCHEN
• WALK-IN-CLOSET
• HOLLYWOOD BATH
• LAMINATE THROUGHOUT
• NEW STOVE
• FOYER FRONT DOOR REPLACED

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: City water (connected); City sewer (connected); Electric fuel
• Home design: Residential attached property; Split entry (bi-level) design; Entry levels on main, upper and lower
• Construction: Poured concrete foundation; Roof older than 8 years
• Exterior features: Vinyl exterior; Deck; No fencing

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Stainless steel appliances; Electric water heater
• Bedrooms: 3 bedrooms (bedrooms located on upper and lower levels)
• Bathrooms: 2 full bathrooms (includes Hollywood bath and primary walk-through)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Finished basement; Electric fireplace; Kitchen/dining open plan
• Laundry & utility: Laundry closet; Utility room (lower level)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $275k.

Deal economics

• At list price, monthly cash flow is $668 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $275k).
• Recommended offer: $271k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.2% 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.
• 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.
• Market conditions: Rents rising fast (+5.1%/yr); 371 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,218 units permitted in Cass County in 2024 (410 in 5+ unit buildings).
• This rent runs 44% of the median local income ($86k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 + 5.1% rent growth), your $77k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($271k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y 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.
• Current owner paid $199k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $270,875 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.14% ✓
• Cap rate: 9.21%
• Cash-on-cash: 10.41%
• DSCR: 1.46
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.13% rent growth · sell at horizon

5-year hold

• IRR: 1.6%
• Equity multiple: 1.06×
• Total profit: $4,818
• Equity at exit: $41,003

10-year hold

• IRR: 13.1%
• Equity multiple: 2.15×
• Total profit: $88,323
• Equity at exit: $23,777

Cash invested: $77,000 (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 58104

• Home prices YoY: -29.6%
• Rents YoY: 5.1%
• Active inventory: 371
• Price-to-rent: 14.6×

Monthly cashflow live

• Estimated rent: $3,134 high
• Mortgage (P&I): −$1,442
• Tax from tax record: −$251 /mo · $3,017/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$658
• Net cashflow: $668

Break-even live

Break-even rent $2,289

Max offer price $275,000

Occupancy floor 74%

Sensitivity live

Price	-10% $823	-5% $746	+0% $668	+5% $590	+10% $512
Rent	-10% $420	-5% $544	+0% $668	+5% $792	+10% $915
Rate	-1.0pp $806	-0.5pp $738	base $668	+0.5pp $597	+1.0pp $524

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,134
Total (2 units)			$3,134

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5100 44th Ave S Fargo, ND	1.0–3.0	1.0–2.0	979	$1,380	$1.41	14d	15	0.23mi
4901 44th Ave S Fargo, ND	1.0–3.0	1.0–2.0	948	$1,325	$1.40	14d	22	0.44mi
4452 47th St S Fargo, ND	1.0–3.0	1.0–2.0	956	$1,313	$1.37	14d	10	0.52mi
4551 47th Ave S Fargo, ND	2.0	1.0–2.0	987	$1,475	$1.49	14d	21	0.59mi
4550 49th Ave S Fargo, ND	3.0	1.0–2.0	996	$1,945	$1.95	14d	25	0.70mi
5599 36th Ave S Fargo, ND	1.0–3.0	1.0–2.0	1351	$2,400	$1.78	14d	9	1.12mi
3548 47th St S Fargo, ND	1.0–2.0	1.0–2.0	892	$1,235	$1.38	14d	3	1.23mi
4240 53rd Ave S Unit 4240-202 Fargo, ND	2.0	2.0	982	$1,275	$1.30	22d	1	1.25mi
5601 34th Ave S Fargo, ND	2.0	1.0–2.0	918	$1,830	$1.99	14d	11	1.27mi
5671 34th Ave S Fargo, ND	3.0	1.0–2.0	1008	$2,795	$2.77	14d	33	1.28mi
5207 33rd Ave S Fargo, ND	1.0–3.0	1.0–2.0	1090	$1,350	$1.24	22d	1	1.38mi
5601 33rd Ave S Fargo, ND	3.0	1.0–3.0	1009	$2,695	$2.67	14d	50	1.41mi
3720 42nd St S Fargo, ND	2.0–4.0	1.0–2.0	1105	$1,118	$1.01	22d	1	1.46mi
5400 42nd St S Fargo, ND	1.0–3.0	1.0–2.0	978	$1,390	$1.42	14d	6	1.50mi

Listing history 13 events

1. 2026-06-21
   days on market $275,000 Active 19 DOM
2. 2026-06-18
   days on market $275,000 Active 16 DOM
3. 2026-06-17
   days on market $275,000 Active 15 DOM
4. 2026-06-16
   days on market $275,000 Active 14 DOM
5. 2026-06-15
   days on market $275,000 Active 13 DOM
6. 2026-06-14
   days on market $275,000 Active 11 DOM
7. 2026-06-13
   days on market $275,000 Active 10 DOM
8. 2026-06-10
   days on market $275,000 Active 8 DOM
9. 2026-06-09
   days on market $275,000 Active 7 DOM
10. 2026-06-08
    days on market $275,000 Active 6 DOM
11. 2026-06-07
    days on market $275,000 Active 5 DOM
12. 2026-06-05
    days on market $275,000 Active 2 DOM
13. 2026-06-03
    listed $275,000 Active 1 DOM

ⓘ 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: $3,017 · $251/mo
• Projected year-2 tax: $3,017 · $251/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 (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: $37,608
• − Mortgage interest: −$15,404
• − Property taxes: −$3,017
• − Insurance: −$1,375
• − Repairs & maintenance: −$3,009
• − Management: −$3,009
• − Depreciation: −$8,000
• Taxable income: $3,795
• Est. tax owed @ 24.0%: −$911
• After-tax cash flow: $7,102/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: 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 — 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): 49,168
• Household income: $85,747
• Rent vs Own: 54.6% rent · 45.4% own
• Severe rent burden: 2039.0

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 (83%)
• Race & ethnicity: White 83% Black 7% Two or more races 5% Asian 4% Hispanic / Latino 2%
• Common ancestry: Portuguese 27% Lithuanian 4% Romanian 2%
• Foreign-born: 9% · Canada, China
• Languages at home: 92% English-only · Korean 1% Spanish 1% Russian/Polish/Slavic 1%

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: ▼ -78.58%
• Current HPI: 187.1707
• Rent YoY: ▲ 5.13%
• 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

+77.8% since first listed

5 events — show timeline

• 2026-06-02 Listed $275,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-07-29 Sold (Public Records) $199,000 Public Records
• 2019-07-26 Sold (MLS) $199,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-06-05 Listed $199,000 NORTHSTARMLS as Distributed by MLS Grid
• 2013-06-14 Sold (Public Records) $154,700 Public Records

Property tax history

+0.0%/yr

Latest (2025): $3,017 · -18.9% YoY. Source: county tax records.