708 7th St N · Fargo, ND 58102

$189,000

4 bd · 2.0 ba · 1,494 sqft · SingleFamily public records · 74 Days on market

Built 1900 7,318 sqft lot Est $191k · at est. ↓ 58% since listing

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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 +13.4/30.0
• ARV discount +8.0/15.0
• 1% rule +4.6/10.0
• Livability +4.2/5.0
• DSCR +4.0/10.0
• Rent growth +3.7/5.0
• Schools +3.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investment Property Opportunity. Zoning is MR-3 (Multi-Dwelling Residential - High Density), allows for apartments or higher density dwelling construction. This property is in an Opportunity Zone. Eligible for capital gains tax deferral + potential tax-free growth. Investor Info: Tenants have been in property for 2 years, $1900/mo lease currently signed to renew thru June 30, 2027. No garage, 4 bedrooms, 2 bathrooms, 4 parking spaces, and over 2300 sq ft. Unfinished basement with laundry. Showings will be coordinated with tenants and 24 hour notice is required. Stable income property in the heart of Downtown. Owner/agent.

Key facts

• Zoning is mr-3
• Unfinished basement
• 7,318 sq ft lot

Tags

• ZONING IS MR-3
• STABLE INCOME PROPERTY
• UNFINISHED BASEMENT

Property features AI

Exterior

• Parking: Open parking
• Utilities: City water connected; City sewer connected; Natural gas
• Home design: Residential property; Two levels; Brick/mortar foundation
• Construction: Brick/mortar foundation; Main level finished area and additional finished space above
• Exterior features: Front porch; Lot approximately 0.168 acres (75 x 100)

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 4 bedrooms (one bedroom listed on main level)
• Bathrooms: 1 full bathroom (upper level); 1 three-quarter bathroom (main level)
• Heating & cooling: Forced air heating; Window AC units
• Interior features: Front porch; Unfinished basement (other); Basement laundry
• Laundry & utility: Washer; Dryer; Laundry located in basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $189k.

Deal economics

• At list price, monthly cash flow is $4 ($46/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $181k (4.4% below list).
• Recommended offer: $178k (6.0% below list) — sets the bar for market timing.
• Cap rate 6.3% 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.
• Fargo 1 (urban): math 41% / reading 44% proficiency, ranked #28 of 53 in ND (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Horace Mann Roosevelt Elementary School (math 37% / reading 37%, grade F, #152 of 236 statewide, top 68%, 368 students, 53% FRL); Ben Franklin Middle School (math 52% / reading 47%, grade C, #6 of 35 statewide, top 18%, 883 students, 32% FRL); North High School (math 45% / reading 63%, grade C-, #13 of 144 statewide, top 8%, 1,083 students, 26% FRL).
• Market conditions: Rents rising fast (+4.7%/yr); 205 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 1,218 units permitted in Cass County in 2024 (410 in 5+ unit buildings).
• This rent runs 36% of the median local income ($60k/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 $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($178k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $177,660 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.96% ✗
• Cap rate: 6.32%
• Cash-on-cash: 0.09%
• DSCR: 1.00
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $191,232
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1209 9th St N	0.51mi	3/2.0 (-1)	1,636 (+10%)	21mo	$209,900	$128	38

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 · 4.71% rent growth · sell at horizon

5-year hold

• IRR: -14.0%
• Equity multiple: 0.49×
• Total profit: $-27,120
• Equity at exit: $28,181

10-year hold

• IRR: -2.4%
• Equity multiple: 0.82×
• Total profit: $-9,464
• Equity at exit: $16,341

Cash invested: $52,920 (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 58102

• Rents YoY: 4.7%
• Active inventory: 205
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,806 high
• Mortgage (P&I): −$991
• Tax from tax record: −$353 /mo · $4,240/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$379
• Net cashflow: $4

Break-even live

Break-even rent $1,802

Max offer price $189,000

Occupancy floor 95%

Sensitivity live

Price	-10% $111	-5% $57	+0% $4	+5% $-50	+10% $-103
Rent	-10% $-139	-5% $-67	+0% $4	+5% $75	+10% $147
Rate	-1.0pp $99	-0.5pp $52	base $4	+0.5pp $-45	+1.0pp $-95

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
405 Broadway N Fargo, ND	3.0	1.0–2.0	973	$2,250	$2.31	15d	24	0.28mi
419 3rd St N Fargo, ND	1.0–3.0	1.0–2.0	1023	$2,600	$2.54	15d	21	0.42mi
624 2nd Ave N Fargo, ND	3.0	1.0–2.0	914	$2,025	$2.22	15d	32	0.44mi
630 1st Ave N Fargo, ND	1.0–4.0	1.0–2.0	1098	$1,700	$1.55	15d	6	0.50mi
21 8th St N Fargo, ND	4.0	1.0–3.0	949	$1,680	$1.77	15d	6	0.52mi
23 N Broadway Dr Unit 306 Fargo, ND	3.0	1.0	1100	$1,560	$1.42	23d	1	0.58mi
23 N Broadway Dr Unit 406 Fargo, ND	3.0	2.0	1225	$1,700	$1.39	15d	1	0.58mi
23 Broadway N Fargo, ND	1.0–3.0	1.0–2.0	912	$1,700	$1.86	23d	5	0.58mi
902 15th St N Unit 4/5 Fargo, ND	3.0	2.0	1200	$995	$0.83	23d	1	0.72mi
1515 11th Ave N Fargo, ND	4.0	1.0–4.0	862	$2,520	$2.92	15d	18	0.79mi
1900 Dakota Dr N Fargo, ND	3.0–4.0	2.0–3.0	1324	$1,895	$1.43	15d	7	1.04mi
1920 Dakota Dr N Fargo, ND	2.0–3.0	1.0–2.0	842	$1,730	$2.05	15d	6	1.10mi
1951 Dakota Dr N Fargo, ND	2.0–3.0	2.0	1051	$1,395	$1.33	15d	5	1.12mi
1601 N University Dr Fargo, ND	2.0–4.0	2.0–4.0	1075	$840	$0.78	23d	1	1.19mi
337 10th Ave S Fargo, ND	3.0	1.0	979	$1,235	$1.26	23d	1	1.34mi
810 4th Ave S Unit 138 Moorhead, MN	3.0	2.0	1750	$1,325	$0.76	23d	1	1.39mi

Listing history 18 events

1. 2026-06-21
   days on market $189,000 Active 74 DOM
2. 2026-06-18
   days on market $189,000 Active 71 DOM
3. 2026-06-17
   days on market $189,000 Active 70 DOM
4. 2026-06-16
   days on market $189,000 Active 69 DOM
5. 2026-06-15
   days on market $189,000 Active 68 DOM
6. 2026-06-14
   days on market $189,000 Active 66 DOM
7. 2026-06-13
   pricedays on market $189,000 Active 65 DOM
8. 2026-06-10
   days on market $195,000 Active 63 DOM
9. 2026-06-09
   days on market $195,000 Active 62 DOM
10. 2026-06-08
    days on market $195,000 Active 61 DOM
11. 2026-06-07
    days on market $195,000 Active 60 DOM
12. 2026-06-02
    days on market $195,000 Active 55 DOM
13. 2026-06-01
    days on market $195,000 Active 54 DOM
14. 2026-05-31
    days on market $195,000 Active 53 DOM
15. 2026-05-30
    days on market $195,000 Active 52 DOM
16. 2026-04-08
    listed $195,000 Active

    Show marketing remark (629 chars)

    Investment Property Opportunity. Zoning is MR-3 (Multi-Dwelling Residential - High Density), allows for apartments or higher density dwelling construction. This property is in an Opportunity Zone. Eligible for capital gains tax deferral + potential tax-free growth. Investor Info: Tenants have been in property for 2 years, $1900/mo lease currently signed to renew thru June 30, 2027. No garage, 4 bedrooms, 2 bathrooms, 4 parking spaces, and over 2300 sq ft. Unfinished basement with laundry. Showings will be coordinated with tenants and 24 hour notice is required. Stable income property in the heart of Downtown. Owner/agent.

17. 2026-04-08
    listed $195,000 Active 629-char remark

    Show marketing remark (629 chars)

    Investment Property Opportunity. Zoning is MR-3 (Multi-Dwelling Residential - High Density), allows for apartments or higher density dwelling construction. This property is in an Opportunity Zone. Eligible for capital gains tax deferral + potential tax-free growth. Investor Info: Tenants have been in property for 2 years, $1900/mo lease currently signed to renew thru June 30, 2027. No garage, 4 bedrooms, 2 bathrooms, 4 parking spaces, and over 2300 sq ft. Unfinished basement with laundry. Showings will be coordinated with tenants and 24 hour notice is required. Stable income property in the heart of Downtown. Owner/agent.

18. 2015-08-31
    soldstatus $462,765

ⓘ 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: $4,240 · $353/mo
• Projected year-2 tax: $4,240 · $353/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: $21,677
• − Mortgage interest: −$10,587
• − Property taxes: −$4,240
• − Insurance: −$945
• − Repairs & maintenance: −$1,734
• − Management: −$1,734
• − Depreciation: −$5,498
• Taxable loss: −$3,061
• Est. tax savings @ 24.0%: +$735
• After-tax cash flow: $781/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: Fargo 1
• NCES district ID: 3806780
• Math proficiency: 41% ▼ -7.00%
• Reading proficiency: 44% ▼ -7.00%
• Median HH income: $46,524
• Composite: 36.23/100
• National rank: #4721
• State rank: #28 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): 32,912
• Household income: $59,533
• Rent vs Own: 53.8% rent · 46.2% own
• Severe rent burden: 1919.0

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 (84%)
• Race & ethnicity: White 84% Hispanic / Latino 5% Two or more races 5% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Portuguese 27% Romanian 3% Scottish 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 92% English-only · Spanish 3% Other Indo-European 2%

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: ▼ -171.16%
• Current HPI: 155.885
• Rent YoY: ▲ 4.71%
• 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

-57.9% since first listed

3 events — show timeline

• 2026-04-08 Listed $195,000 GNMLS
• 2026-04-08 Listed $195,000 NORTHSTARMLS as Distributed by MLS Grid
• 2015-08-31 Sold (Public Records) $462,765 Public Records

Property tax history

+12.5%/yr

Latest (2025): $4,240 · +40.5% YoY. Source: county tax records.