310 10th St S · Moorhead, MN 56560

$194,900

4 bd · 3.0 ba · 1,656 sqft · SingleFamily · 378 Days on market

Built 1937 3,484 sqft lot $118/sqft · 10% below area Est $217k · 10% under

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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 +15.0/30.0
• ARV discount +12.1/15.0
• DSCR +4.6/10.0
• 1% rule +4.4/10.0
• Livability +3.9/5.0
• Schools +3.7/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is a great opportunity to own an investment property for a very reasonable price. This is a single family home with an effeincy upstairs. This gives you a chance for an owner occupied home with additional rental option. Main floor and basement offer 3 bedrooms, 2 baths, 2 living areas. Additional kitchenette in upstairs efficiency, along in basement living area. Home is very close to MSUM. New roof in 2024, new flooring an paint throughout.

Key facts

• Investment property
• Upstairs efficiency
• New roof

Tags

• INVESTMENT PROPERTY
• OWNER OCCUPIED HOME
• ADDITIONAL RENTAL OPTION
• UPSTAIRS EFFICIENCY
• ADDITIONAL KITCHENETTE
• NEW ROOF

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $61 ($735/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 $183k (6.0% below list).
• Recommended offer: $172k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.7% vs local median 3.7% in Moorhead — 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 77/100 on livability (#143 in MN, #3,111 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A-; Watch: crime C-, amenities F, commute F.
• Moorhead Public School District (suburban): math 39% / reading 46% proficiency, ranked #202 of 301 in MN (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.4%/yr); 390 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 269 units permitted in Clay County in 2024 (153 in 5+ unit buildings).

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.
• Clay County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 378 days — a 12% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 21y ago; this cycle's ask has dropped $30k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $140k; 39% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1937 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $171,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 378 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1937 — 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. 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?
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: 0.94% ✗
• Cap rate: 6.67%
• Cash-on-cash: 1.35%
• DSCR: 1.06
• GRM: 8.9

CMA / ARV

• ARV (median comp): $217,069
• List price: $194,900
• Delta: -10.21%
• Verdict: UNDERPRICED
• Comps: 4 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
429 11th St S	0.13mi	3/2.0 (-1)	1,648 (-0%)	19mo	$182,500	$111	69

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 · 1.41% rent growth · sell at horizon

5-year hold

• IRR: -16.0%
• Equity multiple: 0.44×
• Total profit: $-30,514
• Equity at exit: $29,060

10-year hold

• IRR: -10.7%
• Equity multiple: 0.40×
• Total profit: $-32,804
• Equity at exit: $16,851

Cash invested: $54,572 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 46 Balanced
• State Minnesota: 46 Balanced · D+2
• County: — inherits STATE
• City: — inherits STATE

2024 reforms strengthened tenant protections; ramsey/hennepin courts paced moderate to slow.

Methodology + full state rankings →

ZIP-level market 56560

• Rents YoY: 1.4%
• Active inventory: 390
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,832 high
• Mortgage (P&I): −$1,022
• Tax from tax record: −$283 /mo · $3,392/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$385
• Net cashflow: $61

Break-even live

Break-even rent $1,754

Max offer price $194,900

Occupancy floor 92%

Sensitivity live

Price	-10% $172	-5% $116	+0% $61	+5% $6	+10% $-49
Rent	-10% $-83	-5% $-11	+0% $61	+5% $134	+10% $206
Rate	-1.0pp $159	-0.5pp $111	base $61	+0.5pp $11	+1.0pp $-41

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: $48,725
• Closing costs: $5,847
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
810 4th Ave S Unit 138 Moorhead, MN	3.0	2.0	1750	$1,325	$0.76	22d	1	0.11mi
1521 1st Ave N Moorhead, MN	1.0–3.0	1.0–2.0	1050	$1,440	$1.37	45d	1	0.57mi
337 10th Ave S Fargo, ND	3.0	1.0	979	$1,235	$1.26	22d	1	1.05mi
419 3rd St N Fargo, ND	1.0–3.0	1.0–2.0	1023	$2,600	$2.54	15d	21	1.07mi
23 Broadway N Fargo, ND	1.0–3.0	1.0–2.0	912	$1,700	$1.86	22d	5	1.11mi
23 N Broadway Dr Unit 306 Fargo, ND	3.0	1.0	1100	$1,560	$1.42	22d	1	1.12mi
23 N Broadway Dr Unit 406 Fargo, ND	3.0	2.0	1225	$1,700	$1.39	15d	1	1.12mi
630 1st Ave N Fargo, ND	1.0–4.0	1.0–2.0	1098	$1,700	$1.55	15d	6	1.21mi
624 2nd Ave N Fargo, ND	3.0	1.0–2.0	914	$2,025	$2.22	15d	32	1.22mi
405 Broadway N Fargo, ND	3.0	1.0–2.0	973	$2,250	$2.31	15d	24	1.24mi
21 8th St N Fargo, ND	4.0	1.0–3.0	949	$1,680	$1.77	15d	6	1.37mi

Listing history 43 events

1. 2026-06-18
   days on market $194,900 Active 378 DOM
2. 2026-06-17
   days on market $194,900 Active 377 DOM
3. 2026-06-16
   days on market $194,900 Active 376 DOM
4. 2026-06-15
   days on market $194,900 Active 375 DOM
5. 2026-06-14
   days on market $194,900 Active 373 DOM
6. 2026-06-13
   days on market $194,900 Active 372 DOM
7. 2026-06-10
   days on market $194,900 Active 370 DOM
8. 2026-06-09
   days on market $194,900 Active 369 DOM
9. 2026-06-09
   price $194,900 Active 368 DOM
10. 2026-06-08
    days on market $199,900 Active 368 DOM
11. 2026-06-07
    days on market $199,900 Active 367 DOM
12. 2026-06-05
    days on market $199,900 Active 364 DOM
13. 2026-06-03
    days on market $199,900 Active 363 DOM
14. 2026-06-02
    days on market $199,900 Active 362 DOM
15. 2026-06-01
    days on market $199,900 Active 361 DOM
16. 2026-05-31
    days on market $199,900 Active 360 DOM
17. 2026-05-30
    days on market $199,900 Active 359 DOM
18. 2026-04-09
    price $199,900 452-char remark

    Show marketing remark (452 chars)

    This is a great opportunity to own an investment property for a very reasonable price. This is a single family home with an effeincy upstairs. This gives you a chance for an owner occupied home with additional rental option. Main floor and basement offer 3 bedrooms, 2 baths, 2 living areas. Additional kitchenette in upstairs efficiency, along in basement living area. Home is very close to MSUM. New roof in 2024, new flooring an paint throughout.

19. 2026-04-03
    price $204,900 452-char remark

    Show marketing remark (452 chars)

    This is a great opportunity to own an investment property for a very reasonable price. This is a single family home with an effeincy upstairs. This gives you a chance for an owner occupied home with additional rental option. Main floor and basement offer 3 bedrooms, 2 baths, 2 living areas. Additional kitchenette in upstairs efficiency, along in basement living area. Home is very close to MSUM. New roof in 2024, new flooring an paint throughout.

20. 2026-03-19
    price $206,900 452-char remark

    Show marketing remark (452 chars)

    This is a great opportunity to own an investment property for a very reasonable price. This is a single family home with an effeincy upstairs. This gives you a chance for an owner occupied home with additional rental option. Main floor and basement offer 3 bedrooms, 2 baths, 2 living areas. Additional kitchenette in upstairs efficiency, along in basement living area. Home is very close to MSUM. New roof in 2024, new flooring an paint throughout.

21. 2026-02-20
    price $207,900 452-char remark

    Show marketing remark (452 chars)

    This is a great opportunity to own an investment property for a very reasonable price. This is a single family home with an effeincy upstairs. This gives you a chance for an owner occupied home with additional rental option. Main floor and basement offer 3 bedrooms, 2 baths, 2 living areas. Additional kitchenette in upstairs efficiency, along in basement living area. Home is very close to MSUM. New roof in 2024, new flooring an paint throughout.

22. 2026-02-11
    price $208,900 452-char remark

    Show marketing remark (452 chars)

    This is a great opportunity to own an investment property for a very reasonable price. This is a single family home with an effeincy upstairs. This gives you a chance for an owner occupied home with additional rental option. Main floor and basement offer 3 bedrooms, 2 baths, 2 living areas. Additional kitchenette in upstairs efficiency, along in basement living area. Home is very close to MSUM. New roof in 2024, new flooring an paint throughout.

23. 2025-11-12
    price $209,900 452-char remark

    Show marketing remark (452 chars)

    This is a great opportunity to own an investment property for a very reasonable price. This is a single family home with an effeincy upstairs. This gives you a chance for an owner occupied home with additional rental option. Main floor and basement offer 3 bedrooms, 2 baths, 2 living areas. Additional kitchenette in upstairs efficiency, along in basement living area. Home is very close to MSUM. New roof in 2024, new flooring an paint throughout.

24. 2025-09-30
    price $212,500 452-char remark

    Show marketing remark (452 chars)

    This is a great opportunity to own an investment property for a very reasonable price. This is a single family home with an effeincy upstairs. This gives you a chance for an owner occupied home with additional rental option. Main floor and basement offer 3 bedrooms, 2 baths, 2 living areas. Additional kitchenette in upstairs efficiency, along in basement living area. Home is very close to MSUM. New roof in 2024, new flooring an paint throughout.

25. 2025-08-02
    price $215,000 452-char remark

    Show marketing remark (452 chars)

    This is a great opportunity to own an investment property for a very reasonable price. This is a single family home with an effeincy upstairs. This gives you a chance for an owner occupied home with additional rental option. Main floor and basement offer 3 bedrooms, 2 baths, 2 living areas. Additional kitchenette in upstairs efficiency, along in basement living area. Home is very close to MSUM. New roof in 2024, new flooring an paint throughout.

26. 2025-06-05
    listed $225,000 Active 452-char remark

    Show marketing remark (452 chars)

    This is a great opportunity to own an investment property for a very reasonable price. This is a single family home with an effeincy upstairs. This gives you a chance for an owner occupied home with additional rental option. Main floor and basement offer 3 bedrooms, 2 baths, 2 living areas. Additional kitchenette in upstairs efficiency, along in basement living area. Home is very close to MSUM. New roof in 2024, new flooring an paint throughout.

27. 2024-10-06
    historical $1,795
28. 2024-09-04
    listed $1,795
29. 2024-06-23
    historical $1,795
30. 2024-04-16
    listed $1,795
31. 2023-10-17
    historical
32. 2023-10-08
    listed
33. 2016-11-01
    soldstatus $139,900 807-char remark

    Show marketing remark (807 chars)

    Beautifully Updated 1 1/2 Story close to MSUM! NOW RENT READY! Recent improvements to the property to meet or exceed past building inspection recommendations & rental registration certificate for a single family home. Lots of updates here including all new maple cabinets, some new appliances, refinished hardwood floors, new carpet in basement & upstairs, new light fixtures, new kitchen counter-tops, new recessed lights added in basement, basement bathroom has brand new flooring, sink/vanity/faucet, brand new shower, new pendant light fixtures. Upstairs has brand new carpet, walk in closet, large bedroom/living area, refinished hardwood floors in the kitchen, new flooring in the dining room, new shower & vanity counter-top upstairs, new hot water heater, 26 FT deep single stall garage.

34. 2016-05-05
    historical
35. 2016-04-08
    listed $139,900 807-char remark

    Show marketing remark (807 chars)

    Beautifully Updated 1 1/2 Story close to MSUM! NOW RENT READY! Recent improvements to the property to meet or exceed past building inspection recommendations & rental registration certificate for a single family home. Lots of updates here including all new maple cabinets, some new appliances, refinished hardwood floors, new carpet in basement & upstairs, new light fixtures, new kitchen counter-tops, new recessed lights added in basement, basement bathroom has brand new flooring, sink/vanity/faucet, brand new shower, new pendant light fixtures. Upstairs has brand new carpet, walk in closet, large bedroom/living area, refinished hardwood floors in the kitchen, new flooring in the dining room, new shower & vanity counter-top upstairs, new hot water heater, 26 FT deep single stall garage.

36. 2016-04-08
    listed $162,500

    Show marketing remark (807 chars)

    Beautifully Updated 1 1/2 Story close to MSUM! NOW RENT READY! Recent improvements to the property to meet or exceed past building inspection recommendations & rental registration certificate for a single family home. Lots of updates here including all new maple cabinets, some new appliances, refinished hardwood floors, new carpet in basement & upstairs, new light fixtures, new kitchen counter-tops, new recessed lights added in basement, basement bathroom has brand new flooring, sink/vanity/faucet, brand new shower, new pendant light fixtures. Upstairs has brand new carpet, walk in closet, large bedroom/living area, refinished hardwood floors in the kitchen, new flooring in the dining room, new shower & vanity counter-top upstairs, new hot water heater, 26 FT deep single stall garage.

37. 2011-06-17
    soldstatus $56,000
38. 2011-06-17
    soldstatus $56,000
39. 2011-01-26
    listed $56,000
40. 2011-01-26
    listed $56,000
41. 2005-08-22
    soldstatus $90,935
42. 2005-05-17
    historical
43. 2005-03-03
    listed $92,400

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MN · Partial reset (capped growth)

• Current annual tax: $3,392 · $283/mo
• Projected year-2 tax: $3,392 · $283/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 3/10 Moderate FEMA zone X (shaded) · 10% 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: $21,983
• − Mortgage interest: −$10,917
• − Property taxes: −$3,392
• − Insurance: −$974
• − Repairs & maintenance: −$1,759
• − Management: −$1,759
• − Depreciation: −$5,670
• Taxable loss: −$2,488
• Est. tax savings @ 24.0%: +$597
• After-tax cash flow: $1,332/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: Moorhead Public School District
• NCES district ID: 2721420
• Math proficiency: 39% ▼ -8.00%
• Reading proficiency: 46% ▼ -6.00%
• Median HH income: $53,009
• Composite: 36.83/100
• National rank: #4560
• State rank: #202 of 301 in MN

Livability — Moorhead

• Score: 77/100
• State rank: #143
• US rank: #3111

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Moorhead, MN
• County: Clay County · 44,405 people
• City population: 44,405
• Metro: Fargo, ND-MN
• Population (ZIP): 44,405
• Household income: $75,406
• Rent vs Own: 41.0% rent · 59.0% own
• Severe rent burden: 2229.0

Population outlook (Clay County) Hauer SSP2

• Today (2025): 67,880 people
• By 2030: 70,881 · +4.4%
• By 2040: 76,865 · +13.2%
• By 2050: 83,205 · +22.6%
• By 2075: 98,719 · +45.4%
• By 2100: 111,657 · +64.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Black 6% Two or more races 6% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 26% Lithuanian 3% Scottish 3%
• Foreign-born: 6% · Canada, Vietnam
• Languages at home: 91% English-only · Spanish 2% Other Indo-European 2% Arabic 1%

Political lean MEDSL · Clay

• 2024 margin: Toss-up / Even · D 49.2% · R 48.8% · Other 2.0%
• 2008→2024 swing: -15.5pp toward R · 2008: 16.0pp · 2024: 0.5pp
• All cycles: 2024: D+0.5 2020: D+4.1 2016: R+2.0 2012: D+8.0 2008: D+16.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -108.32%
• Current HPI: 177.038
• Rent YoY: ▲ 1.41%
• Metro: Fargo, ND-MN
• State GDP YoY: ▲ 2.41%
• F500 in state: 34

Industry mix (Fortune 500 HQ in MN)

Industry	F500 HQs	Revenue
▸Healthcare	2	$407B
▸Retail	2	$150B
▸Consumer Goods	2	$32B
▸Industrial Machinery	2	$6B
▸Agriculture	1	$40B
▸Healthcare / Medical Devices	1	$32B

Price history

+116.3% since first listed

26 events — show timeline

• 2026-04-09 Price Changed $199,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-03 Price Changed $204,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-19 Price Changed $206,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-20 Price Changed $207,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-11 Price Changed $208,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-11-12 Price Changed $209,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-30 Price Changed $212,500 NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-02 Price Changed $215,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-06-05 Listed $225,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-10-06 Rental Removed $1,795 APPFOLIO
• 2024-09-04 Listed for Rent $1,795 APPFOLIO
• 2024-06-23 Rental Removed $1,795 APPFOLIO
• 2024-04-16 Listed for Rent $1,795 APPFOLIO
• 2023-10-17 Rental Removed — APPFOLIO
• 2023-10-08 Listed for Rent — APPFOLIO
• 2016-11-01 Sold (MLS) $139,900 NORTHSTARMLS as Distributed by MLS Grid
• 2016-05-05 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2016-04-08 Listed $162,500 NORTHSTARMLS as Distributed by MLS Grid
• 2016-04-08 Listed $139,900 NORTHSTARMLS as Distributed by MLS Grid
• 2011-06-17 Sold (MLS) $56,000 NORTHSTARMLS as Distributed by MLS Grid
• 2011-06-17 Sold (MLS) $56,000 NORTHSTARMLS as Distributed by MLS Grid
• 2011-01-26 Listed $56,000 NORTHSTARMLS as Distributed by MLS Grid
• 2011-01-26 Listed $56,000 NORTHSTARMLS as Distributed by MLS Grid
• 2005-08-22 Sold (MLS) $90,935 NORTHSTARMLS as Distributed by MLS Grid
• 2005-05-17 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2005-03-03 Listed $92,400 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+3.4%/yr

Latest (2026): $3,392 · +15.6% YoY. Source: county tax records.