403 3rd St NW · Hazen, ND 58545

$211,999

4 bd · 2.0 ba · 1,720 sqft · Other · 9 Days on market

Built 1960 7,500 sqft lot

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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).

• Appreciation +10.0/10.0
• Cash flow +8.5/30.0
• ARV discount +7.5/15.0
• Schools +3.9/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• 1% rule +1.7/10.0

Key facts

• 7,500 sq ft lot
• Garage
• Built 1960

Property features AI

Exterior

• Parking: One-car garage; Driveway parking; On-street parking
• Utilities: Public water; Public sewer
• Home design: Single family residence; Residential property
• Construction: Wood siding; Shingle roof
• Exterior features: Rain gutters; Partial fencing; Rear and front sprinklers; Rectangular lot

Interior

• Kitchen: Dishwasher; Gas range; Microwave; Refrigerator
• Flooring: Ceramic tile; Linoleum
• Bathrooms: One full bathroom; One three-quarter bathroom
• Heating & cooling: Baseboard heating; Ceiling fan(s); Wall/window cooling units
• Interior features: Ceiling fans; Two fireplaces located in the basement, dining room and living room; Partially finished basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $212k.

Deal economics

• At list price, monthly cash flow is $-185 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $179k (15.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $141k (33.5% below list).
• Recommended offer: $141k (33.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 75/100 on livability (#25 in ND, #4,265 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety D-.
• Hazen 3 (rural): math 41% / reading 45% proficiency, ranked #22 of 53 in ND (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 14% free/reduced lunch — higher-income household profile.
• Zoned schools: Hazen Elementary School (math 52% / reading 47%, grade D, #65 of 236 statewide, top 37%, 274 students, 19% FRL); Hazen Middle School (math 27% / reading 37%, grade F, #30 of 35 statewide, top 85%, 131 students, 17% FRL); Hazen High School (math 44% / reading 54%, grade D, #19 of 144 statewide, top 19%, 163 students, 12% FRL) — zoned schools at 16% FRL track the district average.
• Market conditions: 38 active listings in the ZIP; 15 units permitted in Mercer County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $23k of equity ($1k loan paydown + $21k appreciation (10.0% local appreciation)).
• Mercer County population projected at +38% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $140,992 (33.5% 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 1960 — 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. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.67% ✗
• Cap rate: 5.25%
• Cash-on-cash: -3.74%
• DSCR: 0.83
• GRM: 12.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.6%
• Equity multiple: 2.75×
• Total profit: $103,606
• Equity at exit: $190,985

10-year hold

• IRR: 19.5%
• Equity multiple: 6.29×
• Total profit: $314,199
• Equity at exit: $411,867

Cash invested: $59,360 (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 58545

• Home prices YoY: 8.1%
• Active inventory: 38
• Price-to-rent: 12.5×

Monthly cashflow live

• Estimated rent: $1,410 medium
• Mortgage (P&I): −$1,112
• Tax from tax record: −$99 /mo · $1,183/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $-185

Break-even live

Break-even rent $1,644

Max offer price $179,343

Occupancy floor —

Sensitivity live

Price	-10% $-65	-5% $-125	+0% $-185	+5% $-245	+10% $-305
Rent	-10% $-296	-5% $-241	+0% $-185	+5% $-129	+10% $-73
Rate	-1.0pp $-78	-0.5pp $-131	base $-185	+0.5pp $-240	+1.0pp $-296

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: $53,000
• Closing costs: $6,360
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-22
   days on market $211,999 Active 9 DOM
2. 2026-06-21
   days on market $211,999 Active 8 DOM
3. 2026-06-21
   days on market $211,999 Active 7 DOM
4. 2026-06-18
   days on market $211,999 Active 5 DOM
5. 2026-06-17
   days on market $211,999 Active 4 DOM
6. 2026-06-16
   days on market $211,999 Active 3 DOM
7. 2026-06-15
   days on market $211,999 Active 2 DOM
8. 2026-06-13
   listed $211,999 Active 1 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: $1,183 · $99/mo
• Projected year-2 tax: $2,078 · $173/mo
• Expected delta: +$894/yr (+$75/mo · 75.6%)

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

Taxation est. · year 1

• Rental income: $16,919
• − Mortgage interest: −$11,875
• − Property taxes: −$1,183
• − Insurance: −$1,060
• − Repairs & maintenance: −$1,354
• − Management: −$1,354
• − Depreciation: −$6,167
• Taxable loss: −$6,074
• Est. tax savings @ 24.0%: +$1,458
• After-tax cash flow: $-761/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: Hazen 3
• NCES district ID: 3800031
• Math proficiency: 41% ▼ -9.00%
• Reading proficiency: 45% ▼ -4.00%
• Median HH income: $71,408
• Composite: 39.02/100
• National rank: #4066
• State rank: #22 of 53 in ND

Livability — Hazen

• Score: 75/100
• State rank: #25
• US rank: #4265

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hazen, ND
• Population (ZIP): 3,278

Population outlook (Mercer County) Hauer SSP2

• Today (2025): 9,891 people
• By 2030: 10,506 · +6.2%
• By 2040: 11,872 · +20.0%
• By 2050: 13,612 · +37.6%
• By 2075: 19,871 · +100.9%
• By 2100: 25,938 · +162.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 2% Hispanic / Latino 2% Black 1% Native American 1%
• Common ancestry: Portuguese 15% Scotch-Irish 5% Iranian 3%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · German/W. Germanic 2% Spanish 1% French/Haitian/Cajun 1%

Political lean MEDSL · Mercer

• 2024 margin: Solid R (+69.0) · D 14.8% · R 83.8% · Other 1.3%
• 2008→2024 swing: -39.2pp toward R · 2008: -29.9pp · 2024: -69.0pp
• All cycles: 2024: R+69.0 2020: R+67.4 2016: R+67.9 2012: R+44.9 2008: R+29.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 23.62%
• Current HPI: 315.26
• 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

1 event — show timeline

• 2026-06-13 Listed $211,999 GNMLS