503 Sayler St · Underwood, ND 58576

$199,990

4 bd · 2.0 ba · 1,176 sqft · SingleFamily public records · 35 Days on market

Built 1976 0.26 ac lot Est $162k · 23% over

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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).

• Cash flow +6.9/30.0
• Appreciation +5.4/10.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.1/10.0
• 1% rule +0.6/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

With a little TLC this Ranch Style home in Underwood, North Dakota would make a wonderful place to live. The house features a large living room, two bathrooms, dining room, two bedrooms on the main floor and additional non-egress bedroom in the basement. The yard is large and there is a nice sized attached garage. This is a HUD Home, Sold As-Is Case # 401-137985 www. HUDHomeStore. gov

Key facts

• Ranch style home
• 0.26 acre lot
• 2 garage spots

Tags

• RANCH STYLE HOME
• BRIGHT OPEN LIVING AREA
• LARGE SECOND LIVING AREA
• NEWLY INSTALLED BATHTUB
• TWO STALL INSULATED GARAGE
• AMPLE YEAR ROUND STORAGE

Property features AI

Exterior

• Parking: Attached garage with 2 spaces; Garage door opener; Heated garage; Workshop and storage space in garage; Driveway; Parking pad; RV access/parking; Inside entrance to home from garage
• Security: Smoke detectors; Security system
• Utilities: Public water; Public sewer; Natural gas available and connected; Electricity connected; Cable available
• Home design: Residential single-family home
• Construction: Masonite exterior; Asphalt roof; Concrete perimeter foundation; Built area includes finished space above and below grade
• Exterior features: Patio; Rectangular lot; Publicly maintained road frontage on a city street

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Oven; Refrigerator
• Flooring: Carpet; Laminate; Linoleum
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Forced-air heating; Natural gas heating
• Interior features: Central vacuum; Window treatments; Finished basement with storage space; Total of 12 rooms
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $-300 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $147k (26.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $113k (43.7% below list).
• Recommended offer: $113k (43.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 70/100 on livability (#78 in ND) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: amenities F, commute F, health & safety D-.
• Underwood 8 (rural): math 40% / reading 55% proficiency, ranked #63 of 169 in ND (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: 13 active listings in the ZIP; 43 units permitted in McLean County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($1k loan paydown + $2k appreciation (0.9% local appreciation)).
• McLean County population projected at +48% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 10, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 12y 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.

Recommended offer $112,533 (43.7% 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 35 days. Have you received any prior offers? Is the seller open to a 44% concession, seller financing, or rate buy-down credit?
3. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.56% ✗
• Cap rate: 4.49%
• Cash-on-cash: -6.44%
• DSCR: 0.71
• GRM: 14.8

CMA / ARV

• ARV (on-the-fly): $162,288
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
408 Sayler St	0.05mi	3/1.0 (-1)	1,221 (+4%)	1mo	$169,000	$138	81
501 Summit St	0.09mi	3/1.0 (-1)	1,200 (+2%)	14mo	$99,900	$83	72
411 Mckinley Ave	0.23mi	3/1.5 (-1)	1,312 (+12%)	14mo	$79,900	$61	51
600 2nd St	0.36mi	3/1.0 (-1)	1,256 (+7%)	19mo	$190,000	$151	47

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.87% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -6.0%
• Equity multiple: 0.70×
• Total profit: $-16,734
• Equity at exit: $66,960

10-year hold

• IRR: -0.5%
• Equity multiple: 0.94×
• Total profit: $-3,583
• Equity at exit: $87,978

Cash invested: $55,997 (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 58576

• Home prices YoY: 0.5%
• Active inventory: 13
• Price-to-rent: 14.8×

Monthly cashflow live

• Estimated rent: $1,125 medium
• Mortgage (P&I): −$1,049
• Tax from tax record: −$57 /mo · $689/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $-300

Break-even live

Break-even rent $1,506

Max offer price $146,907

Occupancy floor —

Sensitivity live

Price	-10% $-187	-5% $-244	+0% $-300	+5% $-357	+10% $-414
Rent	-10% $-389	-5% $-345	+0% $-300	+5% $-256	+10% $-212
Rate	-1.0pp $-200	-0.5pp $-250	base $-300	+0.5pp $-352	+1.0pp $-405

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: $49,998
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $199,990 Active 35 DOM
2. 2026-06-17
   days on market $199,990 Active 34 DOM
3. 2026-06-16
   days on market $199,990 Active 33 DOM
4. 2026-06-15
   days on market $199,990 Active 32 DOM
5. 2026-06-13
   days on market $199,990 Active 30 DOM
6. 2026-06-12
   days on market $199,990 Active 29 DOM
7. 2026-06-09
   days on market $199,990 Active 26 DOM
8. 2026-06-08
   days on market $199,990 Active 25 DOM
9. 2026-06-07
   days on market $199,990 Active 24 DOM
10. 2026-06-05
    days on market $199,990 Active 22 DOM
11. 2026-06-04
    days on market $199,990 Active 20 DOM
12. 2026-06-02
    days on market $199,990 Active 19 DOM
13. 2026-06-01
    days on market $199,990 Active 18 DOM
14. 2026-05-31
    days on market $199,990 Active 17 DOM
15. 2026-05-14
    listed $199,990 Active
16. 2026-03-16
    price $207,500
17. 2023-05-31
    soldstatus 387-char remark

    Show marketing remark (387 chars)

    With a little TLC this Ranch Style home in Underwood, North Dakota would make a wonderful place to live. The house features a large living room, two bathrooms, dining room, two bedrooms on the main floor and additional non-egress bedroom in the basement. The yard is large and there is a nice sized attached garage. This is a HUD Home, Sold As-Is Case # 401-137985 www. HUDHomeStore. gov

18. 2023-04-06
    listed $117,000 387-char remark

    Show marketing remark (387 chars)

    With a little TLC this Ranch Style home in Underwood, North Dakota would make a wonderful place to live. The house features a large living room, two bathrooms, dining room, two bedrooms on the main floor and additional non-egress bedroom in the basement. The yard is large and there is a nice sized attached garage. This is a HUD Home, Sold As-Is Case # 401-137985 www. HUDHomeStore. gov

19. 2023-03-20
    soldstatus
20. 2014-10-31
    soldstatus
21. 2014-02-26
    listed $164,500

ⓘ 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: $689 · $57/mo
• Projected year-2 tax: $1,960 · $163/mo
• Expected delta: +$1,271/yr (+$106/mo · 184.5%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥96°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,504
• − Mortgage interest: −$11,203
• − Property taxes: −$689
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,080
• − Management: −$1,080
• − Depreciation: −$5,818
• Taxable loss: −$7,366
• Est. tax savings @ 24.0%: +$1,768
• After-tax cash flow: $-1,838/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: Underwood 8
• NCES district ID: 3818660
• Math proficiency: 40% ▼ -5.00%
• Reading proficiency: 55% ▼ -10.00%
• Median HH income: $54,442
• Composite: 43.22/100
• National rank: #6568
• State rank: #63 of 169 in ND

Livability — Underwood

• Score: 70/100
• State rank: #78
• US rank: #7630

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Underwood, ND
• Population (ZIP): 1,005

Population outlook (McLean County) Hauer SSP2

• Today (2025): 11,405 people
• By 2030: 12,337 · +8.2%
• By 2040: 14,426 · +26.5%
• By 2050: 16,850 · +47.7%
• By 2075: 24,191 · +112.1%
• By 2100: 30,714 · +169.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 7%
• Common ancestry: Portuguese 15% Scotch-Irish 2% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · German/W. Germanic 1%

Political lean MEDSL · McLean

• 2024 margin: Solid R (+58.1) · D 20.2% · R 78.4% · Other 1.4%
• 2008→2024 swing: -39.1pp toward R · 2008: -19.0pp · 2024: -58.1pp
• All cycles: 2024: R+58.1 2020: R+53.6 2016: R+53.0 2012: R+30.0 2008: R+19.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.87%
• Current HPI: 172.7268
• Rent YoY: —
• Metro: —
• 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

+21.6% since first listed

7 events — show timeline

• 2026-05-14 Listed $199,990 GNMLS
• 2026-03-16 Price Changed $207,500 GNMLS
• 2023-05-31 Sold (MLS) — MMLS
• 2023-04-06 Listed $117,000 MMLS
• 2023-03-20 Sold (Public Records) — Public Records
• 2014-10-31 Sold (MLS) — GNMLS
• 2014-02-26 Listed $164,500 GNMLS

Property tax history

-2.5%/yr

Latest (2025): $689 · -59.4% YoY. Source: county tax records.