1402 1st St Unit A · Langdon, ND 58249

$78,000

3 bd · 2.0 ba · 1,523 sqft · Townhouse · 27 Days on market

Built 1981 6,000 sqft lot $67/mo HOA · 6% of rent

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Why this score? — see what drove the C+ 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 +25.6/30.0
• 1% rule +9.5/10.0
• DSCR +8.5/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• $67 HOA
• 2 garage spots
• Built 1981

Property features AI

Finance

• Other: Lot size: 6,000 square feet; Property listed as residential; Directions: In Langdon on 1st street to #1402
• HOA & community: Lakewood East COA with annual fee of $800 (fee covers other items)

Exterior

• Parking: Attached 2-car garage
• Utilities: City water available (in street); City sewer available (in street); Natural gas
• Home design: Residential attached property; Split Entry (Bi-Level) design; Entry level and foundation details: see remarks
• Construction: Above-grade finished living area: 1,523; Main level finished area: 762
• Exterior features: Vinyl exterior

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; No central cooling listed
• Interior features: Fireplace (1)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $78k.

Deal economics

• At list price, monthly cash flow is $183 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $78k).
• Recommended offer: $77k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 72/100 on livability (#42 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.
• Langdon Area 23 (rural): math 38% / reading 51% proficiency, ranked #83 of 169 in ND (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 16 active listings in the ZIP; 2 units permitted in Cavalier County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $539 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• 2 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.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price.

Recommended offer $76,830 (1.5% below list)

Questions for the listing agent

1. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.45% ✓
• Cap rate: 9.11%
• Cash-on-cash: 10.07%
• DSCR: 1.45
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $181,237
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1404 3rd St	0.08mi	2/2.0 (-1)	1,686 (+11%)	11mo	$199,900	$119	64
401 15th Ave Unit 5	0.25mi	4/1.5 (+1)	1,594 (+5%)	19mo	$99,000	$62	58

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -1.0%
• Equity multiple: 0.96×
• Total profit: $-848
• Equity at exit: $11,630

10-year hold

• IRR: 8.8%
• Equity multiple: 1.68×
• Total profit: $14,783
• Equity at exit: $6,744

Cash invested: $21,840 (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 58249

• Active inventory: 16
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,130 medium
• Mortgage (P&I): −$409
• Tax from tax record: −$201 /mo · $2,411/yr
• Insurance: −$32
• HOA: −$67
• Vacancy / Maint / Mgmt: −$237
• Net cashflow: $183

Break-even live

Break-even rent $898

Max offer price $78,000

Occupancy floor 79%

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: $19,500
• Closing costs: $2,340
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $67 · $804/yr

Listing history 5 events

1. 2026-05-28
   status Pending
2. 2026-05-27
   status Active
3. 2026-05-13
   historical
4. 2026-04-16
   listed $78,000 Active
5. 2011-08-09
   soldstatus

ⓘ 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: $2,411 · $201/mo
• Projected year-2 tax: $2,411 · $201/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $13,560
• − Mortgage interest: −$4,369
• − Property taxes: −$2,411
• − Insurance: −$390
• − Repairs & maintenance: −$1,085
• − Management: −$1,085
• − HOA: −$804
• − Depreciation: −$2,269
• Taxable income: $1,147
• Est. tax owed @ 24.0%: −$275
• After-tax cash flow: $1,923/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: Langdon Area 23
• NCES district ID: 3810810
• Math proficiency: 38% ▲ 1.00%
• Reading proficiency: 51% ▲ 8.00%
• Median HH income: $57,184
• Composite: 41.13/100
• National rank: #7427
• State rank: #83 of 169 in ND

Livability — Langdon

• Score: 72/100
• State rank: #42
• US rank: #5786

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Langdon, ND
• Population (ZIP): 2,363

Population outlook (Cavalier County) Hauer SSP2

• Today (2025): 3,638 people
• By 2030: 3,566 · -2.0%
• By 2040: 3,500 · -3.8%
• By 2050: 3,532 · -2.9%
• By 2075: 3,954 · +8.7%
• By 2100: 4,178 · +14.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 3% Native American 1% Two or more races 1%
• Common ancestry: Portuguese 18% Lithuanian 4% Italian 2%
• Foreign-born: 0%
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Cavalier

• 2024 margin: Solid R (+49.1) · D 24.8% · R 73.9% · Other 1.3%
• 2008→2024 swing: -39.8pp toward R · 2008: -9.3pp · 2024: -49.1pp
• All cycles: 2024: R+49.1 2020: R+50.7 2016: R+44.7 2012: R+18.2 2008: R+9.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -81.91%
• Current HPI: 116.1776
• 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

5 events — show timeline

• 2026-05-28 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-27 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-13 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-16 Listed $78,000 NORTHSTARMLS as Distributed by MLS Grid
• 2011-08-09 Sold (Public Records) — Public Records

Property tax history

+7.8%/yr

Latest (2025): $2,411 · -56.0% YoY. Source: county tax records.