816 Woodbridge Cir

Dilworth, MN 56529

$253,000C-

3 bd · 2.0 ba · 1,852 sqft · Built 2005 · SingleFamily · Active · 9 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,600/mo
• Mortgage (P&I): −$1,327
• Tax + insurance: −$418
• HOA: −$0
• Vac / Maint / Mgmt: −$546
• Net cashflow: $309/mo
• Annual: $3,710/yr
• Cap rate: 7.76%
• Cash-on-cash: 5.24%
• DSCR: 1.23
• 1% rule: 1.03%
• Cash to close: $70,840

Investor read

• This is a 3-bed/2.0-bath single-family listed at $253k.
• At list price, monthly cash flow is $309 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $253k).
• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#275 in MN) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, employment A; Watch: crime F, amenities F, commute F.
• Moorhead Public School District (suburban): math 39% / reading 46% proficiency, ranked #202 of 301 in MN (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Robert Asp Elementary (math 46% / reading 43%, grade F, #534 of 857 statewide, top 66%, 611 students, 59% FRL); Horizon Middle School (math 35% / reading 46%, grade F, #144 of 258 statewide, top 56%, 2,158 students, 48% FRL); Moorhead High School (math 44% / reading 59%, grade D+, #124 of 471 statewide, top 27%, 1,937 students, 40% FRL).
• Market conditions: 34 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 269 units permitted in Clay County in 2024 (153 in 5+ unit buildings).
• Clay County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 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.
• Current owner paid $180k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Cap rate 7.8% vs local median 4.0% in Dilworth — 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.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• Crime grade is F 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?
• 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.
• 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.
• 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.