607 Interstate Ave E #2 · Bismarck, ND 58503

$115,900

2 bd · 1.0 ba · 980 sqft · Condo · 152 Days on market

Built 1972 $250/mo HOA · 20% of rent

---

Why this score? — see what drove the D 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 +9.6/30.0
• ARV discount +7.5/15.0
• 1% rule +5.6/10.0
• Rent growth +5.0/5.0
• Livability +4.0/5.0
• Schools +3.7/10.0
• DSCR +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Motivated Seller! Time to downsize? Everything you need on ONE level! This condo features 2 bedrooms, 1 bathroom & a single stall garage. Lots of recent updates including; NEW WINDOWS, new counter top, flooring and stainless steel kitchen appliances and more! Hunter Douglas remote operated blinds in the living area and dining area. Washer and Dryer are shared between unit 1 & 2 in common area. Call a Realtor today to set up a private showing!

Key facts

• New flooring
• Newer windows
• One level living

Tags

• ONE LEVEL LIVING
• REMOTE BLINDS
• NEW FLOORING
• NEWER WINDOWS
• KITCHEN COUNTER TOP
• STAINLESS STEEL APPLIANCES

Property features AI

Finance

• HOA & community: Homeowners association with a $250 monthly fee; HOA covers insurance, grounds maintenance, snow removal, trash, and water

Exterior

• Parking: Attached garage; Garage faces front; Oversized garage; Garage door opener; Additional parking; 1 garage space
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Condominium; One story
• Construction: Metal/steel siding; Shingle roof; No basement
• Exterior features: Level lot; No exterior special features listed; No fencing

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator
• Flooring: Carpet; Linoleum
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; Hot water heating; Natural gas heating; Wall/window cooling unit(s)
• Interior features: Window treatments; Smoke detector(s)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $116k.

Deal economics

• At list price, monthly cash flow is $-78 ($-940/yr) — negative.
• To cash-flow at today's rent, offer at most $105k (9.8% below list).
• Meets the 1% rule at list price ($1k rent vs $116k).
• Recommended offer: $102k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.5% vs local median 3.1% in Bismarck — 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 79/100 on livability (#5 in ND, #2,213 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: crime C-, amenities D+, commute F.
• Bismarck 1 (urban): math 41% / reading 42% proficiency, ranked #25 of 53 in ND (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 19% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+11.8%/yr); 481 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 259 units permitted in Burleigh County in 2024 (0 in 5+ unit buildings).
• This rent is only 14% of the median local income ($102k/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 $801 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Burleigh County population projected at +61% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 152 days — a 12% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 24y ago; this cycle's ask has dropped $33k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 20% of rent.

Recommended offer $101,992 (12.0% 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 152 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are B-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?
9. 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?
10. 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.
11. 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.
12. 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: 1.06% ✓
• Cap rate: 5.48%
• Cash-on-cash: -2.90%
• DSCR: 0.87
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -13.8%
• Equity multiple: 0.47×
• Total profit: $-17,091
• Equity at exit: $17,281

10-year hold

• IRR: 3.0%
• Equity multiple: 1.28×
• Total profit: $9,006
• Equity at exit: $10,021

Cash invested: $32,452 (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 58503

• Home prices YoY: -25.6%
• Rents YoY: 11.8%
• Active inventory: 481
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,231 high
• Mortgage (P&I): −$608
• Tax est. 1.5%: −$145 /mo · $1,738/yr
• Insurance: −$48
• HOA: −$250
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $-78

Break-even live

Break-even rent $1,330

Max offer price $104,565

Occupancy floor —

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: $28,975
• Closing costs: $3,477
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
205 W Interstate Ave Bismarck, ND	1.0–2.0	1.0	652	$985	$1.51	21d	4	0.28mi
2113 Grimsrud Dr Bismarck, ND	1.0–3.0	1.0–2.0	948	$1,420	$1.50	21d	10	0.29mi
121 W Interstate Ave #4 Bismarck, ND	2.0	1.0	850	$900	$1.06	21d	1	0.30mi
2141 Xavier St Unit 312 Bismarck, ND	2.0	2.0	1065	$1,215	$1.14	21d	1	0.35mi
2055 Xavier St Bismarck, ND	2.0	2.0	1044	$1,210	$1.16	21d	1	0.39mi
1110 W Capitol Ave Bismarck, ND	1.0–2.0	1.0	818	$1,165	$1.42	21d	9	0.61mi
444 E Brandon Dr Bismarck, ND	2.0–3.0	2.0	900	$1,110	$1.23	21d	1	0.96mi
1727 N Grandview Ln Bismarck, ND	1.0	1.0	1000	$900	$0.90	21d	1	1.04mi
1825 Burnt Boat Dr Bismarck, ND	2.0	1.0	825	$1,045	$1.27	21d	2	1.14mi
4201 Montreal St Bismarck, ND	1.0–3.0	1.0–2.0	1092	$1,586	$1.45	21d	15	1.40mi

HOA detail condo

• Monthly dues: $250 · $3,000/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-09
   status $115,900 Pending 152 DOM
2. 2026-06-08
   days on market $115,900 Active 152 DOM
3. 2026-06-07
   days on market $115,900 Active 151 DOM
4. 2026-06-05
   days on market $115,900 Active 148 DOM
5. 2026-06-03
   days on market $115,900 Active 147 DOM
6. 2026-06-02
   days on market $115,900 Active 146 DOM
7. 2026-06-01
   days on market $115,900 Active 145 DOM
8. 2026-05-31
   days on market $115,900 Active 144 DOM
9. 2026-05-30
   days on market $115,900 Active 143 DOM
10. 2026-05-22
    price $115,900
11. 2026-04-26
    price $121,900
12. 2026-03-19
    price $129,900
13. 2026-02-25
    price $134,900
14. 2026-01-30
    price $138,900
15. 2026-01-16
    price $142,900
16. 2026-01-07
    listed $148,500 Active
17. 2022-07-28
    soldstatus 458-char remark

    Show marketing remark (458 chars)

    Motivated Seller! Time to downsize? Everything you need on ONE level! This condo features 2 bedrooms, 1 bathroom & a single stall garage. Lots of recent updates including; NEW WINDOWS, new counter top, flooring and stainless steel kitchen appliances and more! Hunter Douglas remote operated blinds in the living area and dining area. Washer and Dryer are shared between unit 1 & 2 in common area. Call a Realtor today to set up a private showing!

18. 2022-03-03
    listed $106,000 458-char remark

    Show marketing remark (458 chars)

    Motivated Seller! Time to downsize? Everything you need on ONE level! This condo features 2 bedrooms, 1 bathroom & a single stall garage. Lots of recent updates including; NEW WINDOWS, new counter top, flooring and stainless steel kitchen appliances and more! Hunter Douglas remote operated blinds in the living area and dining area. Washer and Dryer are shared between unit 1 & 2 in common area. Call a Realtor today to set up a private showing!

19. 2020-02-06
    soldstatus 497-char remark

    Show marketing remark (497 chars)

    This 2 bedroom condo is for those 55+. You can focus less on home maintenance and spend more time doing the things you love such as traveling, spending time with loved ones and recreational activities. Or best of all, spend some time just relaxing. Priced for a quick sale "AS IS" at $44,900 a little bit of updating would go a long way. * * * We are currently in a multiple offer situation seller requests highest and best offer submitted by the deadline of 1/9/20 at 11:00 AM * * *

20. 2020-02-05
    soldstatus
21. 2019-12-23
    listed $44,900
22. 2019-12-18
    listed $44,900 497-char remark

    Show marketing remark (497 chars)

    This 2 bedroom condo is for those 55+. You can focus less on home maintenance and spend more time doing the things you love such as traveling, spending time with loved ones and recreational activities. Or best of all, spend some time just relaxing. Priced for a quick sale "AS IS" at $44,900 a little bit of updating would go a long way. * * * We are currently in a multiple offer situation seller requests highest and best offer submitted by the deadline of 1/9/20 at 11:00 AM * * *

23. 2002-06-21
    soldstatus
24. 2002-03-02
    listed $59,900

ⓘ 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 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 12 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,774
• − Mortgage interest: −$6,492
• − Property taxes: −$1,738
• − Insurance: −$580
• − Repairs & maintenance: −$1,182
• − Management: −$1,182
• − HOA: −$3,000
• − Depreciation: −$3,372
• Taxable loss: −$2,772
• Est. tax savings @ 24.0%: +$665
• After-tax cash flow: $-275/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: Bismarck 1
• NCES district ID: 3800014
• Math proficiency: 41% ▼ -5.00%
• Reading proficiency: 42% ▼ -6.00%
• Median HH income: $60,649
• Composite: 36.76/100
• National rank: #4577
• State rank: #25 of 53 in ND

Livability — Bismarck

• Score: 79/100
• State rank: #5
• US rank: #2213

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bismarck, ND
• County: Burleigh County · 97,300 people
• City population: 97,300
• Metro: Bismarck, ND
• Population (ZIP): 37,683
• Household income: $102,333
• Rent vs Own: 25.7% rent · 74.3% own
• Severe rent burden: 814.0

Population outlook (Burleigh County) Hauer SSP2

• Today (2025): 119,359 people
• By 2030: 133,047 · +11.5%
• By 2040: 161,545 · +35.3%
• By 2050: 191,960 · +60.8%
• By 2075: 274,569 · +130.0%
• By 2100: 350,910 · +194.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 6% Hispanic / Latino 2% Asian 2% Black 1%
• Common ancestry: Portuguese 17% Scotch-Irish 4% Scottish 2%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · German/W. Germanic 2% Spanish 1% Tagalog/Filipino 1%

Political lean MEDSL · Burleigh

• 2024 margin: Solid R (+43.2) · D 27.5% · R 70.7% · Other 1.8%
• 2008→2024 swing: -19.7pp toward R · 2008: -23.6pp · 2024: -43.2pp
• All cycles: 2024: R+43.2 2020: R+40.2 2016: R+46.1 2012: R+32.1 2008: R+23.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -76.96%
• Current HPI: 223.9683
• Rent YoY: ▲ 11.79%
• Metro: Bismarck, ND
• 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

+93.5% since first listed

15 events — show timeline

• 2026-05-22 Price Changed $115,900 GNMLS
• 2026-04-26 Price Changed $121,900 GNMLS
• 2026-03-19 Price Changed $129,900 GNMLS
• 2026-02-25 Price Changed $134,900 GNMLS
• 2026-01-30 Price Changed $138,900 GNMLS
• 2026-01-16 Price Changed $142,900 GNMLS
• 2026-01-07 Listed $148,500 GNMLS
• 2022-07-28 Sold (MLS) — GNMLS
• 2022-03-03 Listed $106,000 GNMLS
• 2020-02-06 Sold (MLS) — MMLS
• 2020-02-05 Sold (MLS) — GNMLS
• 2019-12-23 Listed $44,900 GNMLS
• 2019-12-18 Listed $44,900 MMLS
• 2002-06-21 Sold (MLS) — GNMLS
• 2002-03-02 Listed $59,900 GNMLS