923 7th St · Langdon, ND 58249

$99,000

4 bd · 1.5 ba · 1,024 sqft · SingleFamily · 23 Days on market

Built 1920 9,750 sqft lot Est $185k · 47% under

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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 +19.7/30.0
• ARV discount +15.0/15.0
• DSCR +6.2/10.0
• 1% rule +5.9/10.0
• Schools +4.1/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This adorable home has character galore! You'll fall in love with the high ceilings, cozy wood-burning fire place and inviting front porch. The lower level offers the beginning of some great updates, including an egress window, finished living space and full bathroom.

Key facts

• Inviting front porch
• Backyard privacy
• 9,750 sq ft lot

Tags

• DETACHED DOUBLE GARAGE
• BACKYARD PRIVACY
• INVITING FRONT PORCH

Property features AI

Exterior

• Parking: 2-car garage with garage door opener
• Utilities: Public water; Natural gas available
• Home design: Single-family residence; One level
• Construction: Wood siding
• Exterior features: Public water; Natural gas available; Lot about 0.22 acres (approx. 65 x 150)

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Has heating; Has cooling
• Interior features: Wood-burning fireplace; Full basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $115 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 72/100 on livability (#42 in ND) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety D+, amenities F, commute F.
• Langdon Area 23 (rural): math 38% / reading 51% proficiency, ranked #83 of 169 in ND (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Langdon Area Elementary School (math 52% / reading 57%, grade C, #39 of 236 statewide, top 21%, 239 students, 23% FRL); Langdon Area High School (math 27% / reading 47%, grade F, #71 of 144 statewide, top 52%, 176 students, 19% FRL) — zoned schools at 21% FRL track the district average.
• Market conditions: 16 active listings in the ZIP; 2 units permitted in Cavalier County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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.
• Current owner paid $84k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $97,515 (1.5% below list)

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.09% ✓
• Cap rate: 7.69%
• Cash-on-cash: 5.00%
• DSCR: 1.22
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $185,344
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1024 11th Ave	0.30mi	4/1.5	1,080 (+6%)	2mo	$149,900	$139	75
1007 10th St	0.22mi	3/2.0 (-1)	912 (-11%)	2mo	$165,000	$181	63
1624 11th ST St	0.62mi	3/1.5 (-1)	1,040 (+2%)	11mo	$149,900	$144	54
118 15th Ave	0.55mi	4/2.0	1,002 (-2%)	17mo	$225,000	$225	54

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -8.5%
• Equity multiple: 0.69×
• Total profit: $-8,644
• Equity at exit: $14,761

10-year hold

• IRR: 1.1%
• Equity multiple: 1.08×
• Total profit: $2,136
• Equity at exit: $8,560

Cash invested: $27,720 (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 58249

• Active inventory: 16
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,080 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$177 /mo · $2,124/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$227
• Net cashflow: $115

Break-even live

Break-even rent $933

Max offer price $99,000

Occupancy floor 84%

Sensitivity live

Price	-10% $171	-5% $143	+0% $115	+5% $87	+10% $59
Rent	-10% $30	-5% $73	+0% $115	+5% $158	+10% $201
Rate	-1.0pp $165	-0.5pp $141	base $115	+0.5pp $90	+1.0pp $64

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-05-07
   status Pending
2. 2026-05-02
   historical Active Under Contract
3. 2026-04-08
   listed $99,000 Active
4. 2024-02-28
   soldstatus Closed 268-char remark

   Show marketing remark (268 chars)

   This adorable home has character galore! You'll fall in love with the high ceilings, cozy wood-burning fire place and inviting front porch. The lower level offers the beginning of some great updates, including an egress window, finished living space and full bathroom.

5. 2024-02-28
   soldstatus $84,500

   Show marketing remark (268 chars)

   This adorable home has character galore! You'll fall in love with the high ceilings, cozy wood-burning fire place and inviting front porch. The lower level offers the beginning of some great updates, including an egress window, finished living space and full bathroom.

6. 2024-01-05
   listed $84,500 Active 268-char remark

   Show marketing remark (268 chars)

   This adorable home has character galore! You'll fall in love with the high ceilings, cozy wood-burning fire place and inviting front porch. The lower level offers the beginning of some great updates, including an egress window, finished living space and full bathroom.

7. 2015-09-16
   soldstatus $65,000

ⓘ 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: $2,124 · $177/mo
• Projected year-2 tax: $2,124 · $177/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥91°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,954
• − Mortgage interest: −$5,546
• − Property taxes: −$2,124
• − Insurance: −$495
• − Repairs & maintenance: −$1,036
• − Management: −$1,036
• − Depreciation: −$2,880
• Taxable loss: −$163
• Est. tax savings @ 24.0%: +$39
• After-tax cash flow: $1,424/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: Langdon Area 23
• NCES district ID: 3810810
• Math proficiency: 38% ▲ 1.00%
• Reading proficiency: 51% ▲ 8.00%
• Median HH income: $57,184
• Composite: 41.13/100
• National rank: #7427
• State rank: #83 of 169 in ND

Livability — Langdon

• Score: 72/100
• State rank: #42
• US rank: #5786

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Langdon, ND
• Population (ZIP): 2,363

Population outlook (Cavalier County) Hauer SSP2

• Today (2025): 3,638 people
• By 2030: 3,566 · -2.0%
• By 2040: 3,500 · -3.8%
• By 2050: 3,532 · -2.9%
• By 2075: 3,954 · +8.7%
• By 2100: 4,178 · +14.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 3% Native American 1% Two or more races 1%
• Common ancestry: Portuguese 18% Lithuanian 4% Italian 2%
• Foreign-born: 0%
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Cavalier

• 2024 margin: Solid R (+49.1) · D 24.8% · R 73.9% · Other 1.3%
• 2008→2024 swing: -39.8pp toward R · 2008: -9.3pp · 2024: -49.1pp
• All cycles: 2024: R+49.1 2020: R+50.7 2016: R+44.7 2012: R+18.2 2008: R+9.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -81.91%
• Current HPI: 116.1776
• 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

+52.3% since first listed

7 events — show timeline

• 2026-05-07 Pending — GFAAR
• 2026-05-02 Contingent — GFAAR
• 2026-04-08 Listed $99,000 GFAAR
• 2024-02-28 Sold (Public Records) $84,500 Public Records
• 2024-02-28 Sold (MLS) — GFAAR
• 2024-01-05 Listed $84,500 GFAAR
• 2015-09-16 Sold (Public Records) $65,000 Public Records

Property tax history

+9.6%/yr

Latest (2025): $2,124 · +74.3% YoY. Source: county tax records.