236 S Main Ave · Dickinson, ND 58601

$172,000

3 bd · 2.0 ba · 1,664 sqft · Other · 83 Days on market

Built 1949 7,100 sqft lot

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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 +15.1/30.0
• ARV discount +7.5/15.0
• DSCR +4.6/10.0
• Livability +3.8/5.0
• 1% rule +3.6/10.0
• Schools +3.5/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

REACH FOR THE AFFORDABLE! Bring back the sparkle and you will have made a smart investment. Two main floor bedrooms and bath. Kitchen has wood cabinets with lots of storage. Basement features 1 non-conforming bedroom, kitchenette and bath. Large back yard with two detached garages and alley access.

Key facts

• Alley access
• Kitchenette
• Lots of storage

Tags

• MAIN FLOOR BEDROOMS
• LOTS OF STORAGE
• KITCHENETTE
• LARGE BACK YARD
• DETACHED GARAGES
• ALLEY ACCESS

Property features AI

Exterior

• Parking: 2-car garage
• Utilities: Public sewer
• Home design: Single family residence; Residential property
• Construction: Concrete foundation
• Exterior features: 50' x 142' lot; Lot is approximately 0.16 acres; Zoned RMD

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Total of 8 rooms (bedrooms included)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Has cooling
• Interior features: Window coverings; Finished concrete basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $172k.

Deal economics

• At list price, monthly cash flow is $56 ($667/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 $148k (13.7% below list).
• Recommended offer: $148k (13.7% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 2.9% in Dickinson — 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 76/100 on livability (#12 in ND, #3,334 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Dickinson 1 (town): math 35% / reading 43% proficiency, ranked #29 of 53 in ND (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Dickinson Middle School (math 36% / reading 50%, grade D-, #17 of 35 statewide, top 47%, 842 students, 28% FRL).
• Market conditions: Rents rising (+1.9%/yr); 236 active listings in the ZIP; solid renter incomes; 20 units permitted in Stark County in 2024 (0 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 $5k of value loss. Plan a longer hold.
• Stark County population projected at +120% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($162k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y ago; this cycle's ask has dropped $38k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $145k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $148,441 (13.7% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Built in 1949 — 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: 0.86% ✗
• Cap rate: 6.68%
• Cash-on-cash: 1.39%
• DSCR: 1.06
• GRM: 9.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.95% rent growth · sell at horizon

5-year hold

• IRR: -15.2%
• Equity multiple: 0.46×
• Total profit: $-25,902
• Equity at exit: $25,646

10-year hold

• IRR: -8.5%
• Equity multiple: 0.50×
• Total profit: $-24,317
• Equity at exit: $14,871

Cash invested: $48,160 (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 58601

• Rents YoY: 1.9%
• Active inventory: 236
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,484 medium
• Mortgage (P&I): −$902
• Tax from tax record: −$143 /mo · $1,721/yr
• Insurance: −$72
• HOA: −$0
• Vacancy / Maint / Mgmt: −$312
• Net cashflow: $56

Break-even live

Break-even rent $1,414

Max offer price $172,000

Occupancy floor 91%

Sensitivity live

Price	-10% $153	-5% $104	+0% $56	+5% $7	+10% $-42
Rent	-10% $-62	-5% $-3	+0% $56	+5% $114	+10% $173
Rate	-1.0pp $142	-0.5pp $99	base $56	+0.5pp $11	+1.0pp $-34

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: $43,000
• Closing costs: $5,160
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-22
   days on market $172,000 Active 83 DOM
2. 2026-06-21
   days on market $172,000 Active 82 DOM
3. 2026-06-19
   days on market $172,000 Active 80 DOM
4. 2026-06-18
   days on market $172,000 Active 79 DOM
5. 2026-06-17
   days on market $172,000 Active 78 DOM
6. 2026-06-16
   days on market $172,000 Active 77 DOM
7. 2026-06-15
   days on market $172,000 Active 76 DOM
8. 2026-06-14
   days on market $172,000 Active 74 DOM
9. 2026-06-12
   days on market $172,000 Active 73 DOM
10. 2026-06-09
    days on market $172,000 Active 70 DOM
11. 2026-06-08
    days on market $172,000 Active 69 DOM
12. 2026-06-07
    days on market $172,000 Active 68 DOM
13. 2026-06-05
    days on market $172,000 Active 65 DOM
14. 2026-06-03
    days on market $172,000 Active 64 DOM
15. 2026-06-02
    days on market $172,000 Active 63 DOM
16. 2026-06-01
    days on market $172,000 Active 62 DOM
17. 2026-05-31
    days on market $172,000 Active 61 DOM
18. 2026-05-30
    days on market $172,000 Active 60 DOM
19. 2026-04-27
    price $199,000 299-char remark

    Show marketing remark (299 chars)

    REACH FOR THE AFFORDABLE! Bring back the sparkle and you will have made a smart investment. Two main floor bedrooms and bath. Kitchen has wood cabinets with lots of storage. Basement features 1 non-conforming bedroom, kitchenette and bath. Large back yard with two detached garages and alley access.

20. 2026-04-27
    price $199,000

    Show marketing remark (299 chars)

    REACH FOR THE AFFORDABLE! Bring back the sparkle and you will have made a smart investment. Two main floor bedrooms and bath. Kitchen has wood cabinets with lots of storage. Basement features 1 non-conforming bedroom, kitchenette and bath. Large back yard with two detached garages and alley access.

21. 2026-03-28
    listed $210,000 Active 299-char remark

    Show marketing remark (299 chars)

    REACH FOR THE AFFORDABLE! Bring back the sparkle and you will have made a smart investment. Two main floor bedrooms and bath. Kitchen has wood cabinets with lots of storage. Basement features 1 non-conforming bedroom, kitchenette and bath. Large back yard with two detached garages and alley access.

22. 2026-03-28
    listed $210,000 Active

    Show marketing remark (299 chars)

    REACH FOR THE AFFORDABLE! Bring back the sparkle and you will have made a smart investment. Two main floor bedrooms and bath. Kitchen has wood cabinets with lots of storage. Basement features 1 non-conforming bedroom, kitchenette and bath. Large back yard with two detached garages and alley access.

23. 2023-09-06
    historical 337-char remark

    Show marketing remark (337 chars)

    Take a look at this well maintained 3 bed, 2 bath home with central heating and air! Perfect for a first time home buyer or investor with kitchens both, upstairs and downstairs. Outside is complete with underground sprinklers, maintenance-free steel siding along with two single car garages with alley access. Why rent when you can own?

24. 2020-11-04
    soldstatus $145,000
25. 2020-03-16
    listed $149,900 337-char remark

    Show marketing remark (337 chars)

    Take a look at this well maintained 3 bed, 2 bath home with central heating and air! Perfect for a first time home buyer or investor with kitchens both, upstairs and downstairs. Outside is complete with underground sprinklers, maintenance-free steel siding along with two single car garages with alley access. Why rent when you can own?

ⓘ 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: $1,721 · $143/mo
• Projected year-2 tax: $1,721 · $143/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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥94°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,813
• − Mortgage interest: −$9,635
• − Property taxes: −$1,721
• − Insurance: −$860
• − Repairs & maintenance: −$1,425
• − Management: −$1,425
• − Depreciation: −$5,004
• Taxable loss: −$2,256
• Est. tax savings @ 24.0%: +$542
• After-tax cash flow: $1,209/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: Dickinson 1
• NCES district ID: 3800038
• Math proficiency: 35% ▼ -12.00%
• Reading proficiency: 43% ▼ -7.00%
• Median HH income: $63,270
• Composite: 34.9/100
• National rank: #5080
• State rank: #29 of 53 in ND

Livability — Dickinson

• Score: 76/100
• State rank: #12
• US rank: #3334

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dickinson, ND
• County: Stark County · 29,916 people
• City population: 29,916
• Metro: Dickinson, ND
• Population (ZIP): 29,916
• Household income: $85,821
• Rent vs Own: 35.4% rent · 64.6% own
• Severe rent burden: 813.0

Population outlook (Stark County) Hauer SSP2

• Today (2025): 50,426 people
• By 2030: 60,812 · +20.6%
• By 2040: 84,155 · +66.9%
• By 2050: 110,718 · +119.6%
• By 2075: 186,710 · +270.3%
• By 2100: 264,902 · +425.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 7% Two or more races 5% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 9% Scotch-Irish 2% Lithuanian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 92% English-only · Spanish 4% German/W. Germanic 1% Arabic 1%

Political lean MEDSL · Stark

• 2024 margin: Solid R (+65.6) · D 16.5% · R 82.1% · Other 1.5%
• 2008→2024 swing: -36.5pp toward R · 2008: -29.1pp · 2024: -65.6pp
• All cycles: 2024: R+65.6 2020: R+63.9 2016: R+65.8 2012: R+49.4 2008: R+29.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -133.57%
• Current HPI: 188.1029
• Rent YoY: ▲ 1.95%
• Metro: Dickinson, ND
• 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

+32.8% since first listed

7 events — show timeline

• 2026-04-27 Price Changed $199,000 GNMLS
• 2026-04-27 Price Changed $199,000 Badlands BOR MLS
• 2026-03-28 Listed $210,000 Badlands BOR MLS
• 2026-03-28 Listed $210,000 GNMLS
• 2023-09-06 Delisted — Badlands BOR MLS
• 2020-11-04 Sold (Public Records) $145,000 Public Records
• 2020-03-16 Listed $149,900 Badlands BOR MLS

Property tax history

+3.7%/yr

Latest (2025): $1,721 · +1.7% YoY. Source: county tax records.