6762 69th Ave S · Horace, ND 58047

$325,000

4 bd · 3.0 ba · 1,132 sqft · SingleFamily public records · 138 Days on market

Built 2022 Good condition 5,270 sqft lot 2-car garage $287/sqft · 32% above area Est $458k · 29% under

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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).

• ARV discount +15.0/15.0
• Cash flow +11.3/30.0
• Schools +5.4/10.0
• 1% rule +3.8/10.0
• Condition / age +3.8/5.0
• Livability +3.7/5.0
• DSCR +3.3/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

** To Be Built** ''Isaac Plan'' This 4 Bed 3 Bath Bilevel is what you have been waiting for! Open concept with vaulted ceilings and tons of natural light! Kitchen appliances, fully sodded yard and passive radon system included. The 26.6 foot wide, oversized two stall garage , with floor drain, is sure to make this home the perfect one!

Key facts

• Backyard patio
• Fully fenced yard
• 5,270 sq ft lot

Tags

• BACKYARD PATIO
• FULLY FENCED YARD
• PRIVATE PRIMARY SUITE
• FINISHED OVERSIZED GARAGE

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $325k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-117 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $304k (6.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $287k (11.8% below list).
• Recommended offer: $286k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.9% vs local median 4.0% in Horace — 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 74/100 on livability (#29 in ND, #4,718 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: cost of living C-, health & safety D+, amenities F.
• West Fargo 6 (suburban): math 41% / reading 42% proficiency, ranked #26 of 53 in ND (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Osgood Elem School (math 41% / reading 39%, grade F, #132 of 236 statewide, top 57%, 564 students, 37% FRL); Liberty Middle School (math 33% / reading 39%, grade F, #23 of 35 statewide, top 65%, 1,102 students, 23% FRL); West Fargo Sheyenne High School (math 29% / reading 37%, grade F, #84 of 144 statewide, top 58%, 1,473 students, 20% FRL) — zoned schools at 27% FRL track the district average.
• Market conditions: 525 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 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 $2k of loan paydown is wiped out by about $10k 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

• It's been on market 138 days — a 12% lower offer ($286k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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.

Recommended offer $286,000 (12.0% 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. It's been on market 138 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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 A-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: 0.88% ✗
• Cap rate: 5.86%
• Cash-on-cash: -1.54%
• DSCR: 0.93
• GRM: 9.4

CMA / ARV

• ARV (median comp): $458,007
• List price: $325,000
• Delta: -29.04%
• Verdict: UNDERPRICED
• Comps: 4 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -18.8%
• Equity multiple: 0.34×
• Total profit: $-59,996
• Equity at exit: $48,459

10-year hold

• IRR: -11.2%
• Equity multiple: 0.33×
• Total profit: $-61,333
• Equity at exit: $28,100

Cash invested: $91,000 (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 →

Active competition Active MLS

• For sale now: 2 active · 4 under contract
• Median asking: $448,312 ($334/sqft)
• Median days on market: 242 d
• This list price: 50% of active listings are priced below it
• ARV vs active asking: +21.1% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 58047

• Active inventory: 525
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $2,866 medium
• Mortgage (P&I): −$1,704
• Tax from tax record: −$542 /mo · $6,499/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$602
• Net cashflow: $-117

Break-even live

Break-even rent $3,014

Max offer price $304,314

Occupancy floor 99%

Sensitivity live

Price	-10% $67	-5% $-25	+0% $-117	+5% $-209	+10% $-301
Rent	-10% $-344	-5% $-230	+0% $-117	+5% $-4	+10% $109
Rate	-1.0pp $47	-0.5pp $-34	base $-117	+0.5pp $-201	+1.0pp $-287

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: $81,250
• Closing costs: $9,750
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6874 68th St S Horace, ND	3.0	2.0	1396	$2,150	$1.54	117d	1	0.09mi
6267 87th Ave S Horace, ND	3.0	2.0	1398	$2,300	$1.65	0d	1	1.37mi

Property features AI

Finance

• Other: Lot approximately 0.121 acres (44 x 125)
• Financial info: FHA mortgage type indicated

Exterior

• Parking: Attached 2-car garage
• Utilities: City water (connected)City sewer (connected)Natural gas
• Home design: Residential propertySplit entry (bi-level) designEntry level: Main/UpperAbove-grade finished area and main level finished area indicated
• Construction: Poured concrete foundation
• Exterior features: Vinyl exteriorPatioFull yard fencing

Interior

• Kitchen: CooktopRangeMicrowaveDishwasherRefrigeratorFreezer
• Bedrooms: 4 bedrooms (bedrooms located on upper and lower levels)
• Bathrooms: 3 full bathroomsMain floor has a full bath and a 3/4 bathPrimary bathroom on upper level
• Heating & cooling: Forced air heatingCentral air conditioning
• Interior features: Finished basementDining roomFamily roomLiving room
• Laundry & utility: Laundry room on lower level

Listing history 50 events

1. 2026-09-24
   days on market $325,000 Active 138 DOM
2. 2026-09-24
   days on market $325,000 Active 137 DOM
3. 2026-09-22
   days on market $325,000 Active 136 DOM
4. 2026-09-21
   days on market $325,000 Active 135 DOM
5. 2026-09-20
   days on market $325,000 Active 134 DOM
6. 2026-09-19
   days on market $325,000 Active 133 DOM
7. 2026-09-18
   days on market $325,000 Active 132 DOM
8. 2026-09-17
   days on market $325,000 Active 131 DOM
9. 2026-09-16
   days on market $325,000 Active 130 DOM
10. 2026-09-15
    days on market $325,000 Active 129 DOM
11. 2026-09-14
    days on market $325,000 Active 128 DOM
12. 2026-09-13
    days on market $325,000 Active 127 DOM
13. 2026-09-12
    days on market $325,000 Active 126 DOM
14. 2026-09-11
    days on market $325,000 Active 125 DOM
15. 2026-09-05
    days on market $325,000 Active 119 DOM
16. 2026-09-04
    days on market $325,000 Active 118 DOM
17. 2026-09-03
    days on market $325,000 Active 117 DOM
18. 2026-08-31
    days on market $325,000 Active 114 DOM
19. 2026-08-30
    days on market $325,000 Active 113 DOM
20. 2026-08-29
    days on market $325,000 Active 112 DOM
21. 2026-08-28
    days on market $325,000 Active 111 DOM
22. 2026-08-27
    days on market $325,000 Active 110 DOM
23. 2026-08-26
    days on market $325,000 Active 109 DOM
24. 2026-08-25
    days on market $325,000 Active 108 DOM
25. 2026-08-24
    days on market $325,000 Active 107 DOM
26. 2026-08-23
    days on market $325,000 Active 106 DOM
27. 2026-08-22
    days on market $325,000 Active 105 DOM
28. 2026-08-21
    days on market $325,000 Active 104 DOM
29. 2026-08-20
    days on market $325,000 Active 103 DOM
30. 2026-08-19
    days on market $325,000 Active 102 DOM
31. 2026-08-18
    days on market $325,000 Active 101 DOM
32. 2026-08-17
    days on market $325,000 Active 100 DOM
33. 2026-08-16
    days on market $325,000 Active 99 DOM
34. 2026-08-15
    days on market $325,000 Active 98 DOM
35. 2026-08-14
    days on market $325,000 Active 97 DOM
36. 2026-08-13
    days on market $325,000 Active 96 DOM
37. 2026-08-12
    days on market $325,000 Active 95 DOM
38. 2026-08-11
    days on market $325,000 Active 94 DOM
39. 2026-08-10
    days on market $325,000 Active 93 DOM
40. 2026-08-09
    days on market $325,000 Active 92 DOM
41. 2026-08-08
    days on market $325,000 Active 91 DOM
42. 2026-08-07
    days on market $325,000 Active 90 DOM
43. 2026-08-06
    days on market $325,000 Active 89 DOM
44. 2026-08-05
    days on market $325,000 Active 88 DOM
45. 2026-08-04
    days on market $325,000 Active 87 DOM
46. 2026-08-03
    days on market $325,000 Active 86 DOM
47. 2026-07-31
    days on market $325,000 Active 83 DOM
48. 2026-07-30
    days on market $325,000 Active 82 DOM
49. 2026-07-29
    days on market $325,000 Active 81 DOM
50. 2026-07-27
    days on market $325,000 Active 79 DOM

ⓘ 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: $6,499 · $542/mo
• Projected year-2 tax: $6,499 · $542/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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 12 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,393
• − Mortgage interest: −$18,205
• − Property taxes: −$6,499
• − Insurance: −$1,625
• − Repairs & maintenance: −$2,751
• − Management: −$2,751
• − Depreciation: −$9,455
• Taxable loss: −$6,893
• Est. tax savings @ 24.0%: +$1,654
• After-tax cash flow: $249/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab Est. rehab $5,660–$16,980 screening

This single-family home is in good condition with a good condition score of 75. It has a cosmetic rehab level and requires minimal repairs and maintenance. The highest-ROI updates would be painting the interior walls, replacing the carpet with hardwood, and installing smart home devices.

Value-add opportunities

• Both paint interior walls — fresh paint enhances curb appeal and interior aesthetics ↑
• Both replace carpet with hardwood — hardwood floors are more durable and add value ↑
• Both install smart home devices — improves convenience and adds modern appeal ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 54/100

Zoned Schools

Elementary Horace Elementary School B- ND #19/236 Nat'l #7,252/41,679 Middle Heritage Middle School C- ND #10/35 Nat'l #4,042/14,009 High Horace High School

Schools (NCES district)

• District: West Fargo 6
• NCES district ID: 3819410
• Math proficiency: 41% ▼ -10.00%
• Reading proficiency: 42% ▼ -10.00%
• Median HH income: $58,914
• Composite: 36.6/100
• National rank: #4628
• State rank: #26 of 53 in ND

B Composite livability gradescore 74/100

Livability — Horace

• Score: 74/100
• State rank: #29
• US rank: #4718

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Horace, ND
• County: Cass County · 223,771 people
• City population: 5,636
• Metro: Fargo, ND-MN
• Population (ZIP): 5,636
• Household income: $142,361
• Rent vs Own: 4.7% rent · 95.3% own

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Hispanic / Latino 6% Two or more races 4% Black 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2%
• Common ancestry: Portuguese 26% Scotch-Irish 7% Lithuanian 4%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 4%

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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: ▼ -113.83%
• Current HPI: 178.7028
• Rent YoY: —
• Metro: Fargo, ND-MN
• State GDP YoY: ▲ 2.09%
• F500 in state: 2

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Industry mix (Fortune 500 HQ in ND)

Industry	F500 HQs	Revenue
▸Utilities / Construction	1	$6B

Property features AI

Finance

• Other: Lot approximately 0.121 acres (44 x 125)
• Financial info: FHA mortgage type indicated

Exterior

• Parking: Attached 2-car garage
• Utilities: City water (connected)City sewer (connected)Natural gas
• Home design: Residential propertySplit entry (bi-level) designEntry level: Main/UpperAbove-grade finished area and main level finished area indicated
• Construction: Poured concrete foundation
• Exterior features: Vinyl exteriorPatioFull yard fencing

Interior

• Kitchen: CooktopRangeMicrowaveDishwasherRefrigeratorFreezer
• Bedrooms: 4 bedrooms (bedrooms located on upper and lower levels)
• Bathrooms: 3 full bathroomsMain floor has a full bath and a 3/4 bathPrimary bathroom on upper level
• Heating & cooling: Forced air heatingCentral air conditioning
• Interior features: Finished basementDining roomFamily roomLiving room
• Laundry & utility: Laundry room on lower level

Price history

+8.7% since first listed

5 events — show timeline

• 2026-05-22 Price Changed $325,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-09 Listed $330,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-12-05 Sold (Public Records) $298,900 Public Records
• 2022-12-02 Sold (MLS) $298,900 NORTHSTARMLS as Distributed by MLS Grid
• 2022-04-21 Listed $298,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+167.2%/yr

Latest (2025): $6,499 · +29.8% YoY. Source: county tax records.