205 Badger St S

Wishek, ND 58495

$77,900A-

3 bd · 2.5 ba · 2,596 sqft · Built 1969 · SingleFamily · Active · 199 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,237/mo
• Mortgage (P&I): −$409
• Tax + insurance: −$130
• HOA: −$0
• Vac / Maint / Mgmt: −$260
• Net cashflow: $439/mo
• Annual: $5,265/yr
• Cap rate: 13.05%
• Cash-on-cash: 24.14%
• DSCR: 2.07
• 1% rule: 1.59%
• Cash to close: $21,812

Investor read

• This is a 3-bed/2.5-bath single-family listed at $78k.
• At list price, monthly cash flow is $439 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $78k).
• It's been on market 199 days — a 12% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $69k (12.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($539 loan paydown + $2k appreciation (3.0% local appreciation)).
• Location reads 78/100 on livability (#9 in ND, #2,743 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools C-, employment C-, amenities F.
• Wishek 19 (rural): math 50% / reading 50% proficiency, ranked #58 of 169 in ND (top 34%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 6 active listings in the ZIP.
• McIntosh County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 199 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.