514 7th St N · Grand Forks, ND 58203

$104,000

3 bd · 2.0 ba · 1,442 sqft · SingleFamily public records · 1 Days on market

Built 1894 7,000 sqft lot

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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 +26.5/30.0
• 1% rule +10.0/10.0
• DSCR +9.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.0/5.0
• Livability +3.9/5.0
• Schools +3.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• 7,000 sq ft lot
• Garage
• Built 1894

Property features AI

Exterior

• Parking: Detached or attached garage not specified, includes 1 garage space
• Utilities: Public water
• Home design: Single-family residence; One and one-half stories
• Exterior features: 50 x 140 lot (7,000 sq ft)

Interior

• Heating & cooling: Has cooling
• Interior features: Seven total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $104k.

Deal economics

• At list price, monthly cash flow is $274 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $104k).
• Cap rate 9.5% 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.
• Market conditions: Rents rising fast (+6.0%/yr); 56 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 133 units permitted in Grand Forks County in 2024 (0 in 5+ unit buildings).
• This rent runs 32% 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 $719 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 $29k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 5.0% of price; built in 1894 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $104,000

Questions for the listing agent

1. Built in 1894 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.57% ✓
• Cap rate: 9.46%
• Cash-on-cash: 11.30%
• DSCR: 1.50
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $248,024
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
503 N 4th St	0.18mi	4/2.0 (+1)	1,360 (-6%)	9mo	$107,000	$79	69
807 4th St N	0.29mi	3/2.0	1,282 (-11%)	3mo	$249,900	$195	65
1715 2nd Ave N	0.61mi	3/2.0	1,427 (-1%)	7mo	$250,000	$175	64
804 N 5th Street St	0.27mi	3/1.5	1,321 (-8%)	9mo	$199,900	$151	64
812 N 4th St	0.32mi	3/2.0	1,257 (-13%)	0mo	$169,000	$134	64
1424 2nd Ave N	0.45mi	3/2.0	1,356 (-6%)	11mo	$265,000	$195	60
615 7th St N	0.09mi	4/2.0 (+1)	1,246 (-14%)	11mo	$171,900	$138	59
1524 University Ave	0.46mi	3/1.0	1,594 (+10%)	0mo	$274,900	$172	57
1919 8th Ave N	0.65mi	3/2.0	1,321 (-8%)	1mo	$350,000	$265	55
1705 8th Ave N	0.49mi	4/2.0 (+1)	1,344 (-7%)	12mo	$275,000	$205	50
1521 N 3rd St	0.65mi	3/2.0	1,611 (+12%)	3mo	$249,900	$155	47
502 Cherry St	0.65mi	4/2.0 (+1)	1,652 (+15%)	3mo	$220,000	$133	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 · 5.95% rent growth · sell at horizon

5-year hold

• IRR: 4.9%
• Equity multiple: 1.20×
• Total profit: $5,827
• Equity at exit: $15,507

10-year hold

• IRR: 17.7%
• Equity multiple: 2.72×
• Total profit: $50,225
• Equity at exit: $8,992

Cash invested: $29,120 (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: 5.3×

Monthly cashflow live

• Estimated rent: $1,637 medium
• Mortgage (P&I): −$545
• Tax from tax record: −$430 /mo · $5,163/yr
• Insurance: −$43
• HOA: −$0
• Vacancy / Maint / Mgmt: −$344
• Net cashflow: $274

Break-even live

Break-even rent $1,290

Max offer price $104,000

Occupancy floor 78%

Sensitivity live

Price	-10% $646	-5% $610	+0% $274	+5% $245	+10% $215
Rent	-10% $145	-5% $210	+0% $274	+5% $339	+10% $404
Rate	-1.0pp $327	-0.5pp $301	base $274	+0.5pp $247	+1.0pp $220

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: $26,000
• Closing costs: $3,120
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
214 N 4th St Grand Forks, ND	3.0	1.0–2.0	974	$2,345	$2.41	44d	1	0.32mi

Listing history 2 events

1. 2026-06-18
   status $104,000 Pending 1 DOM
2. 2026-06-18
   listed $104,000 Active 1 DOM

ⓘ 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: $5,163 · $430/mo
• Projected year-2 tax: $5,163 · $430/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 · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥96°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,644
• − Mortgage interest: −$5,826
• − Property taxes: −$5,163
• − Insurance: −$520
• − Repairs & maintenance: −$1,572
• − Management: −$1,572
• − Depreciation: −$3,025
• Taxable income: $1,967
• Est. tax owed @ 24.0%: −$472
• After-tax cash flow: $2,819/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: 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

3 events — show timeline

• 2026-06-17 Listed $104,000 GFAAR
• 2013-10-29 Sold (Public Records) — Public Records
• 2009-12-04 Sold (Public Records) — Public Records

Property tax history

+10.9%/yr

Latest (2025): $5,163 · +150.5% YoY. Source: county tax records.