307 Dakota Ave

Mott, ND 58646

$67,500B

4 bd · 1.0 ba · 1,496 sqft · Built 1935 · SingleFamily · Active · 19 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,403/mo
• Mortgage (P&I): −$354
• Tax + insurance: −$53
• HOA: −$0
• Vac / Maint / Mgmt: −$295
• Net cashflow: $702/mo
• Annual: $8,421/yr
• Cap rate: 18.77%
• Cash-on-cash: 44.55%
• DSCR: 2.98
• 1% rule: 2.08%
• Cash to close: $18,900

Investor read

• This is a 4-bed/1.0-bath single-family listed at $68k.
• At list price, monthly cash flow is $702 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $68k).
• It's been on market 19 days — a 2% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $66k (1.5% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($467 loan paydown + $2k appreciation (3.0% local appreciation)).
• Location reads 64/100 on livability (#213 in ND) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, employment C-, health & safety D+.
• Mott-Regent 1 (rural): math 30% / reading 40% proficiency, ranked #132 of 169 in ND (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 4 active listings in the ZIP.
• Hettinger County population projected at +68% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts since 5y 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 $32k; list at $68k implies a 111% gain — meaningful room to come down on a strong offer.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.