212 Fillmore Ave · Grand Forks, ND 58201

$44,500

3 bd · 2.0 ba · 1,456 sqft · Manufactured · 15 Days on market

Built 1998 Fair condition Est $45k · at est.

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +8.1/15.0
• Rent growth +4.8/5.0
• Livability +3.9/5.0
• Schools +3.6/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Key facts

• Large deck
• Patio door
• Spacious kitchen

Tags

• SPACIOUS KITCHEN
• LARGE OPEN LIVING ROOM
• VAULTED CEILINGS
• PATIO DOOR
• BUILT IN SURROUND SOUND
• LARGE DECK

Property features AI

Finance

• Financial info: Annual tax amount listed

Exterior

• Utilities: Public water
• Home design: Manufactured in park (mobile home); Located in a park named President; Make: Highland, Model: Stoneybrook; Zoned A-1 Limited Development
• Construction: Built as a mobile home; Finished area approximately 1456
• Exterior features: Deck

Interior

• Interior features: Central air conditioning; Forced air heating (natural gas); Total of 5 rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $44k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $782 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $44k).
• Recommended offer: $44k (1.5% below list) — sets the bar for market timing.
• Cap rate 27.4% vs local median 2.2% in Grand Forks — 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 78/100 on livability (#8 in ND, #2,645 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, crime D+.
• Grand Forks 1 (urban): math 37% / reading 49% proficiency, ranked #27 of 53 in ND (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+9.3%/yr); 284 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 133 units permitted in Grand Forks County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $308 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Grand Forks County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $12k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($44k) is reasonable based on typical stale-listing flexibility.

Recommended offer $43,832 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 3.10% ✓
• Cap rate: 27.37%
• Cash-on-cash: 75.29%
• DSCR: 4.35
• GRM: 2.7

CMA / ARV

• ARV (on-the-fly): $45,136
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
212 Fillmore Ave	0.00mi	3/2.0	1,456 (0%)	1mo	$44,500	$31	99

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 80.8%
• Equity multiple: 5.00×
• Total profit: $49,887
• Equity at exit: $6,635

10-year hold

• IRR: 85.5%
• Equity multiple: 12.30×
• Total profit: $140,804
• Equity at exit: $3,848

Cash invested: $12,460 (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 58201

• Rents YoY: 9.3%
• Active inventory: 284
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $1,379 medium
• Mortgage (P&I): −$233
• Tax est. 1.5%: −$56 /mo · $668/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $782

Break-even live

Break-even rent $389

Max offer price $44,500

Occupancy floor 38%

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: $11,125
• Closing costs: $1,335
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
184 Filmore Ave Grand Forks, ND	3.0	2.0	1152	$1,319	$1.14	44d	1	0.03mi
905 32nd Ave S Grand Forks, ND	2.0	1.0	1000	$1,260	$1.26	44d	3	0.17mi
5000 Curran Ct Grand Forks, ND	2.0	1.0–2.0	795	$1,450	$1.82	44d	6	1.07mi

Listing history 2 events

1. 2026-04-29
   status Pending
2. 2026-03-25
   listed $44,500 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X · 9% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,546
• − Mortgage interest: −$2,493
• − Property taxes: −$668
• − Insurance: −$222
• − Repairs & maintenance: −$1,324
• − Management: −$1,324
• − Depreciation: −$1,295
• Taxable income: $9,221
• Est. tax owed @ 24.0%: −$2,213
• After-tax cash flow: $7,168/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 · 7 photos

Fair 45/100 Moderate rehab

This manufactured home requires moderate renovations, focusing on exterior siding, flooring, and painting to significantly improve its resale and rental value.

Repairs flagged

• Major Exterior siding — Severe peeling and weathering
• Major Carpeted flooring — Worn and in need of replacement
• Major Paint — Faded and uneven, needs repainting

Value-add opportunities

• Resale New exterior siding — Enhances curb appeal and durability
• Resale New carpeting — Improves living space aesthetics
• Resale Painting — Freshens the interior and exterior appearance

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Severe peeling and weathering	Major	$15,000–50,000
Carpeted flooring · Worn and in need of replacement	Major	$15,000–50,000
Paint · Faded and uneven, needs repainting	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Resale New exterior siding — Enhances curb appeal and durability ↑
• Resale New carpeting — Improves living space aesthetics ↑
• Resale Painting — Freshens the interior and exterior appearance ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Grand Forks 1
• NCES district ID: 3808130
• Math proficiency: 37% ▼ -8.00%
• Reading proficiency: 49% ▲ 1.00%
• Median HH income: $44,234
• Composite: 36.39/100
• National rank: #4681
• State rank: #27 of 53 in ND

Livability — Grand Forks

• Score: 78/100
• State rank: #8
• US rank: #2645

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Grand Forks, ND
• County: Grand Forks County · 58,851 people
• City population: 58,851
• Metro: Grand Forks, ND-MN
• Population (ZIP): 42,373
• Household income: $68,143
• Rent vs Own: 50.3% rent · 49.7% own
• Severe rent burden: 2110.0

Population outlook (Grand Forks County) Hauer SSP2

• Today (2025): 80,606 people
• By 2030: 86,489 · +7.3%
• By 2040: 99,506 · +23.4%
• By 2050: 115,269 · +43.0%
• By 2075: 171,303 · +112.5%
• By 2100: 238,330 · +195.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 7% Hispanic / Latino 5% Black 4% Asian 2% Native American 2%
• Common ancestry: Portuguese 26% Romanian 4% Lithuanian 3%
• Foreign-born: 5% · Canada, South Korea, China
• Languages at home: 93% English-only · Spanish 1% Other Indo-European 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Grand Forks

• 2024 margin: R (+18.2) · D 40.1% · R 58.3% · Other 1.6%
• 2008→2024 swing: -23.3pp toward R · 2008: 5.1pp · 2024: -18.2pp
• All cycles: 2024: R+18.2 2020: R+13.3 2016: R+18.5 2012: R+3.5 2008: D+5.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -197.56%
• Current HPI: 183.128
• Rent YoY: ▲ 9.31%
• Metro: Grand Forks, ND-MN
• 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

2 events — show timeline

• 2026-04-29 Pending — GFAAR
• 2026-03-25 Listed $44,500 GFAAR