122 Helen St N · Streeter, ND 58483

$249,000

6 bd · 7.6 ba · 4,900 sqft · MultiFamily · 322 Days on market

Built 1982 10,000 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 +18.3/30.0
• ARV discount +7.5/15.0
• DSCR +5.7/10.0
• Appreciation +5.0/10.0
• 1% rule +4.9/10.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Great investment property! This apartment complex has six units and a nice commons area for a lot of business opportunities! Each unit comes with it's own ac unit, water heater, stove, refrigerator & hood range. Tenant are responsible for their own electricity and cable services. Could be also be used as a hunters lodge! Separate laundry room with coin operated washer and dryer with a folding bench. New windows through out, new flooring throughout the commons areas. Commons area also includes refrigerator, stove, & ac unit.

Key facts

• Air conditioning
• Full units
• Large bedroom

Tags

• FULL UNITS
• LARGE BEDROOM
• ELECTRIC BASEBOARD HEAT
• AIR CONDITIONING
• LARGE COMMON AREA

Property features AI

Finance

• HOA & community: Association offers laundry

Exterior

• Parking: Parking lot available; no garage
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Sewer and water connected
• Home design: Multi-family residential income property; One level
• Construction: Aluminum siding; Built on slab foundation
• Exterior features: Metal roof; Outbuilding on the property; No exterior fencing listed; No other exterior features listed

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: Total of 5 rooms
• Flooring: Carpet; Ceramic tile
• Bathrooms: 7 full bathrooms; 1 half bathroom
• Heating & cooling: Baseboard electric heating; Ductless cooling; Ceiling fans
• Interior features: Electric range and refrigerator included; Carpet and ceramic tile flooring; Smoke detectors installed
• Laundry & utility: Laundry available (association amenity)

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.5-bath units multifamily listed at $249k.

Deal economics

• At list price, monthly cash flow is $226 ($3k/yr) — positive. Per door: $113/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $246k (1.0% below list).
• Recommended offer: $219k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#207 in ND) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing B+; Watch: crime D+, schools F, amenities F.
• Gackle-Streeter 56 (rural): math 20% / reading 50% proficiency, ranked #133 of 169 in ND (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 5 active listings in the ZIP; 19 units permitted in Stutsman County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($2k loan paydown + $7k appreciation (3.0% local appreciation)).
• Stutsman County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $70k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 322 days — a 12% lower offer ($219k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y 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 $219,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 322 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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?
8. 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.
9. 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.
10. 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: 0.99% ✗
• Cap rate: 7.38%
• Cash-on-cash: 3.89%
• DSCR: 1.17
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 11.1%
• Equity multiple: 1.64×
• Total profit: $44,413
• Equity at exit: $111,961

10-year hold

• IRR: 13.3%
• Equity multiple: 2.98×
• Total profit: $138,042
• Equity at exit: $172,546

Cash invested: $69,720 (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 58483

• Active inventory: 5
• Price-to-rent: 16.8×

Monthly cashflow live

• Estimated rent: $2,464 medium
• Mortgage (P&I): −$1,306
• Tax est. 1.5%: −$311 /mo · $3,735/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$517
• Net cashflow: $226

Break-even live

Break-even rent $2,178

Max offer price $249,000

Occupancy floor 86%

Sensitivity live

Price	-10% $398	-5% $312	+0% $226	+5% $140	+10% $54
Rent	-10% $31	-5% $128	+0% $226	+5% $323	+10% $420
Rate	-1.0pp $351	-0.5pp $289	base $226	+0.5pp $161	+1.0pp $96

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$2,464
Total (2 units)			$2,464

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: $62,250
• Closing costs: $7,470
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $249,000 Active 322 DOM
2. 2026-06-18
   days on market $249,000 Active 321 DOM
3. 2026-06-17
   days on market $249,000 Active 320 DOM
4. 2026-06-16
   days on market $249,000 Active 319 DOM
5. 2026-06-15
   days on market $249,000 Active 318 DOM
6. 2026-06-14
   days on market $249,000 Active 316 DOM
7. 2026-06-12
   days on market $249,000 Active 315 DOM
8. 2026-06-09
   days on market $249,000 Active 312 DOM
9. 2026-06-08
   days on market $249,000 Active 311 DOM
10. 2026-06-07
    days on market $249,000 Active 310 DOM
11. 2026-06-05
    days on market $249,000 Active 308 DOM
12. 2026-06-04
    days on market $249,000 Active 306 DOM
13. 2026-06-02
    days on market $249,000 Active 305 DOM
14. 2026-06-01
    days on market $249,000 Active 304 DOM
15. 2026-05-31
    days on market $249,000 Active 303 DOM
16. 2026-05-31
    days on market $249,000 Active 302 DOM
17. 2025-08-01
    listed $249,000 Active
18. 2023-04-28
    soldstatus 540-char remark

    Show marketing remark (540 chars)

    Great investment property! This apartment complex has six units and a nice commons area for a lot of business opportunities! Each unit comes with it's own ac unit, water heater, stove, refrigerator & hood range. Tenant are responsible for their own electricity and cable services. Could be also be used as a hunters lodge! Separate laundry room with coin operated washer and dryer with a folding bench. New windows through out, new flooring throughout the commons areas. Commons area also includes refrigerator, stove, & ac unit.

19. 2023-04-28
    soldstatus 540-char remark

    Show marketing remark (540 chars)

    Great investment property! This apartment complex has six units and a nice commons area for a lot of business opportunities! Each unit comes with it's own ac unit, water heater, stove, refrigerator & hood range. Tenant are responsible for their own electricity and cable services. Could be also be used as a hunters lodge! Separate laundry room with coin operated washer and dryer with a folding bench. New windows through out, new flooring throughout the commons areas. Commons area also includes refrigerator, stove, & ac unit.

20. 2022-09-28
    listed $120,000 540-char remark

    Show marketing remark (540 chars)

    Great investment property! This apartment complex has six units and a nice commons area for a lot of business opportunities! Each unit comes with it's own ac unit, water heater, stove, refrigerator & hood range. Tenant are responsible for their own electricity and cable services. Could be also be used as a hunters lodge! Separate laundry room with coin operated washer and dryer with a folding bench. New windows through out, new flooring throughout the commons areas. Commons area also includes refrigerator, stove, & ac unit.

21. 2022-09-28
    listed $120,000 540-char remark

    Show marketing remark (540 chars)

    Great investment property! This apartment complex has six units and a nice commons area for a lot of business opportunities! Each unit comes with it's own ac unit, water heater, stove, refrigerator & hood range. Tenant are responsible for their own electricity and cable services. Could be also be used as a hunters lodge! Separate laundry room with coin operated washer and dryer with a folding bench. New windows through out, new flooring throughout the commons areas. Commons area also includes refrigerator, stove, & ac unit.

ⓘ 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 1/10 Low
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,568
• − Mortgage interest: −$13,948
• − Property taxes: −$3,735
• − Insurance: −$1,245
• − Repairs & maintenance: −$2,365
• − Management: −$2,365
• − Depreciation: −$7,244
• Taxable loss: −$1,334
• Est. tax savings @ 24.0%: +$320
• After-tax cash flow: $3,030/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: Gackle-Streeter 56
• NCES district ID: 3800043
• Math proficiency: 20% ▬ 0.00%
• Reading proficiency: 50% ▲ 10.00%
• Median HH income: $45,655
• Composite: 32.51/100
• National rank: #10834
• State rank: #133 of 169 in ND

Livability — Streeter

• Score: 64/100
• State rank: #207
• US rank: #14350

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Streeter, ND
• Population (ZIP): 338

Population outlook (Stutsman County) Hauer SSP2

• Today (2025): 21,104 people
• By 2030: 21,292 · +0.9%
• By 2040: 21,485 · +1.8%
• By 2050: 21,960 · +4.1%
• By 2075: 25,753 · +22.0%
• By 2100: 29,779 · +41.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 6% Two or more races 4%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Scotch-Irish 23% Portuguese 4% Norwegian 3%
• Foreign-born: 7% · Canada
• Languages at home: 83% English-only · German/W. Germanic 11% Spanish 6%

Political lean MEDSL · Stutsman

• 2024 margin: Solid R (+44.6) · D 26.7% · R 71.3% · Other 1.9%
• 2008→2024 swing: -29.9pp toward R · 2008: -14.7pp · 2024: -44.6pp
• All cycles: 2024: R+44.6 2020: R+43.4 2016: R+42.5 2012: R+22.1 2008: R+14.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+107.5% since first listed

5 events — show timeline

• 2025-08-01 Listed $249,000 GNMLS
• 2023-04-28 Sold (MLS) — GNMLS
• 2023-04-28 Sold (MLS) — GNMLS
• 2022-09-28 Listed $120,000 GNMLS
• 2022-09-28 Listed $120,000 GNMLS