372 Circle Dr E · Grand Forks, ND 58203

$99,900

3 bd · 2.0 ba · 1,216 sqft · Manufactured · 66 Days on market

Built 2022 Good condition

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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 +28.7/30.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.0/5.0
• Condition / age +4.0/5.0
• Livability +3.9/5.0
• Schools +3.6/10.0
• Appreciation +0.0/10.0

Key facts

• Open floor plan
• Quiet park setting
• Stylish kitchen

Tags

• OPEN FLOOR PLAN
• STYLISH KITCHEN
• QUIET PARK SETTING
• EASY ACCESS TO LOCAL AMENITIES

Property features AI

Exterior

• Home design: Manufactured in park (mobile home)
• Construction: Schult make, Lifestyle 15-5 model
• Exterior features: Located in Park Manor (manufactured home park); Skirted with wood; Zoned R-1 (Single Family)

Interior

• Heating & cooling: Central air
• Interior features: Central air conditioning; Total of 5 rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $100k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $332 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.3% vs local median 2.2% in Grand Forks — 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 78/100 on livability (#8 in ND, #2,645 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, crime D+.
• Grand Forks 1 (urban): math 37% / reading 49% proficiency, ranked #27 of 53 in ND (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Winship Elementary School (math 17% / reading 27%, grade F, #216 of 236 statewide, top 93%, 227 students, 66% FRL); Valley Middle School (math 22% / reading 40%, grade F, #31 of 35 statewide, top 88%, 513 students, 56% FRL); Central High School (math 29% / reading 56%, grade F, #48 of 144 statewide, top 33%, 1,093 students, 32% FRL) — zoned schools average 52% FRL vs 29% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.0%/yr); 56 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 133 units permitted in Grand Forks County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Grand Forks County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 6.0% rent growth), your $28k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.

Recommended offer $93,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is D 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?
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: 1.30% ✓
• Cap rate: 10.28%
• Cash-on-cash: 14.24%
• DSCR: 1.63
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $25,536
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4829 Iron Gate Ct	0.49mi	3/2.0	1,216 (0%)	13mo	$42,900	$35	67
4812 Iron Gate Ct	0.45mi	3/2.0	1,216 (0%)	20mo	$25,000	$21	62
4907 Golden Gate Dr	0.51mi	3/2.0	1,280 (+5%)	12mo	$25,000	$20	57

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

Projected returns pro-forma

-3.0% appreciation · 5.95% rent growth · sell at horizon

5-year hold

• IRR: 7.9%
• Equity multiple: 1.32×
• Total profit: $8,933
• Equity at exit: $14,895

10-year hold

• IRR: 19.6%
• Equity multiple: 2.87×
• Total profit: $52,331
• Equity at exit: $8,638

Cash invested: $27,972 (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 58203

• Rents YoY: 6.0%
• Active inventory: 56
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,294 medium
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,498/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $332

Break-even live

Break-even rent $874

Max offer price $99,900

Occupancy floor 69%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
815 N 39th St Grand Forks, ND	1.0–2.0	1.0–2.0	930	$1,100	$1.18	44d	9	0.90mi
3544 11th Ave N Grand Forks, ND	2.0	1.0	640	$925	$1.44	44d	8	1.20mi

Listing history 18 events

1. 2026-06-19
   days on market $99,900 Active 66 DOM
2. 2026-06-18
   days on market $99,900 Active 65 DOM
3. 2026-06-17
   days on market $99,900 Active 64 DOM
4. 2026-06-16
   days on market $99,900 Active 63 DOM
5. 2026-06-15
   days on market $99,900 Active 62 DOM
6. 2026-06-14
   days on market $99,900 Active 60 DOM
7. 2026-06-13
   days on market $99,900 Active 59 DOM
8. 2026-06-10
   days on market $99,900 Active 57 DOM
9. 2026-06-09
   days on market $99,900 Active 56 DOM
10. 2026-06-08
    days on market $99,900 Active 55 DOM
11. 2026-06-07
    days on market $99,900 Active 54 DOM
12. 2026-06-05
    days on market $99,900 Active 51 DOM
13. 2026-06-03
    days on market $99,900 Active 50 DOM
14. 2026-06-02
    days on market $99,900 Active 49 DOM
15. 2026-06-01
    days on market $99,900 Active 48 DOM
16. 2026-05-31
    days on market $99,900 Active 47 DOM
17. 2026-05-30
    days on market $99,900 Active 46 DOM
18. 2026-04-08
    listed $105,000 Active

ⓘ 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

• 🌡 Heat 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,530
• − Mortgage interest: −$5,596
• − Property taxes: −$1,498
• − Insurance: −$500
• − Repairs & maintenance: −$1,242
• − Management: −$1,242
• − Depreciation: −$2,906
• Taxable income: $2,545
• Est. tax owed @ 24.0%: −$611
• After-tax cash flow: $3,373/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This manufactured home is in good condition with cosmetic updates needed. It's move-in ready with a good resale and rental value.

Value-add opportunities

• Resale Paint exterior trim — Enhances curb appeal
• Both Replace worn-out flooring — Improves both resale and rental value
• Resale Update kitchen appliances — Modernizes the kitchen and attracts buyers

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior trim — Enhances curb appeal ↑
• Both Replace worn-out flooring — Improves both resale and rental value ↑
• Resale Update kitchen appliances — Modernizes the kitchen and attracts buyers ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Grand Forks 1
• NCES district ID: 3808130
• Math proficiency: 37% ▼ -8.00%
• Reading proficiency: 49% ▲ 1.00%
• Median HH income: $44,234
• Composite: 36.39/100
• National rank: #4681
• State rank: #27 of 53 in ND

Livability — Grand Forks

• Score: 78/100
• State rank: #8
• US rank: #2645

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Grand Forks, ND
• County: Grand Forks County · 58,851 people
• City population: 58,851
• Metro: Grand Forks, ND-MN
• Population (ZIP): 16,478
• Household income: $60,474
• Rent vs Own: 55.2% rent · 44.8% own
• Severe rent burden: 1031.0

Population outlook (Grand Forks County) Hauer SSP2

• Today (2025): 80,606 people
• By 2030: 86,489 · +7.3%
• By 2040: 99,506 · +23.4%
• By 2050: 115,269 · +43.0%
• By 2075: 171,303 · +112.5%
• By 2100: 238,330 · +195.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 6% Asian 6% Two or more races 6% Native American 3% Black 3%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Portuguese 23% Romanian 4% Lithuanian 2%
• Foreign-born: 10% · Canada, China, South Korea
• Languages at home: 88% English-only · Spanish 3% Other Indo-European 2% Chinese 2%

Political lean MEDSL · Grand Forks

• 2024 margin: R (+18.2) · D 40.1% · R 58.3% · Other 1.6%
• 2008→2024 swing: -23.3pp toward R · 2008: 5.1pp · 2024: -18.2pp
• All cycles: 2024: R+18.2 2020: R+13.3 2016: R+18.5 2012: R+3.5 2008: D+5.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -146.25%
• Current HPI: 183.3667
• Rent YoY: ▲ 5.95%
• Metro: Grand Forks, 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

1 event — show timeline

• 2026-04-08 Listed $105,000 GFAAR