222 Langer Ave N · Casselton, ND 58012

$130,000

3 bd · 1.0 ba · 1,238 sqft · SingleFamily public records · 6 Days on market

Built 1899 7,013 sqft lot

---

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 +12.5/30.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• 1% rule +3.8/10.0
• DSCR +3.7/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice 3 Bedroom Casselton Home. Fresh Exterior Paint on House. Front Porch, Back Patio with Hot Tub. Main Floor Laundry, Formal Dining, Hardwood Floors, Fenced Back Yard, Newer Shingles & New Water Heater, Total SqFt: 1394

Key facts

• 7,013 sq ft lot
• 2 garage spots
• Built 1899

Property features AI

Finance

• Financial info: Conventional financing available

Exterior

• Parking: 2-car garage
• Utilities: City water (connected); City sewer (connected); Natural gas
• Home design: Residential property; One and one-half stories; Entry/main living on main level
• Construction: Block and brick/mortar foundation; Asphalt roof; Built with wood exterior
• Exterior features: Wood exterior

Interior

• Kitchen: Range; Dishwasher; Refrigerator
• Bedrooms: 3 bedrooms (main level listed for some rooms)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; No central air
• Interior features: Three-season porch; Unfinished basement; Dishwasher; Range; Refrigerator; Electric water heater; Washer; Dryer
• Laundry & utility: Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $-19 ($-228/yr) — negative.
• To cash-flow at today's rent, offer at most $127k (2.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $115k (11.8% below list).
• Recommended offer: $115k (11.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 69/100 on livability (#99 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.
• Central Cass 17 (rural): math 44% / reading 52% proficiency, ranked #10 of 53 in ND (top 19%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 12% free/reduced lunch — higher-income household profile.
• Zoned schools: Central Cass Elementary School (math 57% / reading 57%, grade C+, #34 of 236 statewide, top 15%, 396 students, 14% FRL); Central Cass Middle School (math 40% / reading 50%, grade D, #15 of 35 statewide, top 41%, 327 students, 14% FRL); Central Cass High School (math 34% / reading 44%, grade F, #57 of 144 statewide, top 48%, 312 students, 14% FRL) — zoned schools at 14% FRL track the district average.
• Market conditions: 48 active listings in the ZIP; 1,218 units permitted in Cass County in 2024 (410 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Cass County population projected at +69% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 11y 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.

Risks & watch-outs

• Watch-outs: built in 1899 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $114,693 (11.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1899 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.88% ✗
• Cap rate: 6.12%
• Cash-on-cash: -0.63%
• DSCR: 0.97
• GRM: 9.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -17.3%
• Equity multiple: 0.39×
• Total profit: $-22,242
• Equity at exit: $19,383

10-year hold

• IRR: -9.2%
• Equity multiple: 0.43×
• Total profit: $-20,790
• Equity at exit: $11,240

Cash invested: $36,400 (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 58012

• Active inventory: 48
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,147 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$189 /mo · $2,270/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$241
• Net cashflow: $-19

Break-even live

Break-even rent $1,171

Max offer price $126,643

Occupancy floor 97%

Sensitivity live

Price	-10% $55	-5% $18	+0% $-19	+5% $-56	+10% $-93
Rent	-10% $-110	-5% $-64	+0% $-19	+5% $26	+10% $72
Rate	-1.0pp $46	-0.5pp $14	base $-19	+0.5pp $-53	+1.0pp $-87

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-05-21
   status Pending
2. 2026-05-17
   historical Contingent - Inspection
3. 2026-05-15
   listed $130,000 Active
4. 2015-09-09
   soldstatus $120,500
5. 2015-09-02
   soldstatus $120,500 225-char remark

   Show marketing remark (225 chars)

   Nice 3 Bedroom Casselton Home. Fresh Exterior Paint on House. Front Porch, Back Patio with Hot Tub. Main Floor Laundry, Formal Dining, Hardwood Floors, Fenced Back Yard, Newer Shingles & New Water Heater, Total SqFt: 1394

6. 2015-06-15
   listed $125,000 225-char remark

   Show marketing remark (225 chars)

   Nice 3 Bedroom Casselton Home. Fresh Exterior Paint on House. Front Porch, Back Patio with Hot Tub. Main Floor Laundry, Formal Dining, Hardwood Floors, Fenced Back Yard, Newer Shingles & New Water Heater, Total SqFt: 1394

ⓘ 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: $2,270 · $189/mo
• Projected year-2 tax: $2,270 · $189/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 · 0% 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,763
• − Mortgage interest: −$7,282
• − Property taxes: −$2,270
• − Insurance: −$650
• − Repairs & maintenance: −$1,101
• − Management: −$1,101
• − Depreciation: −$3,782
• Taxable loss: −$2,423
• Est. tax savings @ 24.0%: +$581
• After-tax cash flow: $353/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: Central Cass 17
• NCES district ID: 3804090
• Math proficiency: 44% ▲ 2.00%
• Reading proficiency: 52% ▲ 2.00%
• Median HH income: $66,268
• Composite: 42.65/100
• National rank: #3179
• State rank: #10 of 53 in ND

Livability — Casselton

• Score: 69/100
• State rank: #99
• US rank: #8637

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Casselton, ND
• Population (ZIP): 2,805

Population outlook (Cass County) Hauer SSP2

• Today (2025): 223,771 people
• By 2030: 251,835 · +12.5%
• By 2040: 311,816 · +39.3%
• By 2050: 378,694 · +69.2%
• By 2075: 571,386 · +155.3%
• By 2100: 769,727 · +244.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 5% Black 1%
• Common ancestry: Portuguese 34% Scottish 6% Lithuanian 5%
• Foreign-born: 1%
• Languages at home: 98% English-only · German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Cass

• 2024 margin: Lean R (+8.4) · D 44.9% · R 53.3% · Other 1.9%
• 2008→2024 swing: -15.5pp toward R · 2008: 7.1pp · 2024: -8.4pp
• All cycles: 2024: R+8.4 2020: R+2.7 2016: R+10.7 2012: R+3.0 2008: D+7.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -88.50%
• Current HPI: 145.5285
• 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

+4.0% since first listed

6 events — show timeline

• 2026-05-21 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-17 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-15 Listed $130,000 NORTHSTARMLS as Distributed by MLS Grid
• 2015-09-09 Sold (Public Records) $120,500 Public Records
• 2015-09-02 Sold (MLS) $120,500 NORTHSTARMLS as Distributed by MLS Grid
• 2015-06-15 Listed $125,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+5.3%/yr

Latest (2025): $2,270 · -2.1% YoY. Source: county tax records.