12601 Hwy 52 N

Foxholm, ND 58718

$38,000B+

1 bd · 1.0 ba · 784 sqft · Built 1920 · SingleFamily · Active · 53 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $836/mo
• Mortgage (P&I): −$199
• Tax + insurance: −$53
• HOA: −$0
• Vac / Maint / Mgmt: −$176
• Net cashflow: $408/mo
• Annual: $4,895/yr
• Cap rate: 19.17%
• Cash-on-cash: 46.00%
• DSCR: 3.05
• 1% rule: 2.20%
• Cash to close: $10,640

Investor read

• This is a 1-bed/1.0-bath single-family listed at $38k.
• At list price, monthly cash flow is $408 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($836 rent vs $38k).
• It's been on market 53 days — a 3% lower offer ($37k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $37k (3.0% below list) — sets the bar for market timing.
• In year one you build about $532 of equity ($263 loan paydown + $269 appreciation (0.7% local appreciation)).
• Location reads 57/100 on livability (#307 in ND) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: crime C-, housing D, health & safety D.
• United 7 (rural): math 52% / reading 51% proficiency, ranked #5 of 53 in ND (top 9%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 15% free/reduced lunch — higher-income household profile.
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 6 active listings in the ZIP; 123 units permitted in Ward County in 2024 (0 in 5+ unit buildings).
• Ward County population projected at +76% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 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.
• At projected returns (0.7% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 53 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.
• 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.
• 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.