207 2nd Ave NW · Kenmare, ND 58746

$79,900

3 bd · 2.5 ba · 1,780 sqft · SingleFamily public records · 27 Days on market

Built 1915 8,276 sqft lot Est $128k · 38% under

---

Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +6.6/10.0
• Schools +3.9/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Here is an opportunity to renovate a home in Kenmare, ND! This home is being sold as is in its current condition. The home features 3 bedrooms and 1.75 baths. There are a total of 3 bedrooms and ¾ bathroom upstairs. The main floor has a living room, kitchen, and one full bathroom. The basement is unfinished. The home does need a considerable amount of work to be livable and will not qualify for FHA or VA financing.

Key facts

• 5 year old roof
• Updated pex plumbing
• Newer furnace

Tags

• DES LACS LAKE VIEWS
• WOOD FLOORS
• UPDATED PEX PLUMBING
• NEWER FURNACE
• NEWER WATER HEATER
• 5 YEAR OLD ROOF

Property features AI

Exterior

• Parking: Concrete parking; 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; 2 stories
• Construction: Below-grade finished area present
• Exterior features: Public water; Public sewer; Rural residential zoning

Interior

• Kitchen: Dishwasher; Range; Oven; Refrigerator
• Heating & cooling: Central air conditioning; Forced air heating; Propane heating
• Interior features: Dishwasher; Range; Oven; Refrigerator; Full unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $465 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $79k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#120 in ND) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, health & safety D, amenities F.
• Kenmare 28 (rural): math 40% / reading 45% proficiency, ranked #89 of 169 in ND (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: 10 active listings in the ZIP; 123 units permitted in Ward County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($552 loan paydown + $2k appreciation (3.1% local appreciation)).
• Ward County population projected at +76% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.1% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 4 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 $25k; list at $80k implies a 220% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $78,701 (1.5% below list)

Questions for the listing agent

1. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.56% ✓
• Cap rate: 13.27%
• Cash-on-cash: 24.92%
• DSCR: 2.11
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $128,160
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
423 1st Ave NW	0.19mi	3/2.0	1,836 (+3%)	8mo	$194,900	$106	77
213 NE 1st Ave	0.22mi	4/2.0 (+1)	1,798 (+1%)	14mo	$130,000	$72	70
111 1st Ave SE	0.28mi	2/1.2 (-1)	1,904 (+7%)	16mo	$26,361	$14	52
209 1st Ave NE	0.22mi	3/1.0	1,946 (+9%)	24mo	$38,000	$20	48
112 6th Ave NE	0.60mi	3/1.8	1,742 (-2%)	22mo	$125,000	$72	46
622 N Central Ave	0.37mi	3/1.0	1,942 (+9%)	22mo	$25,000	$13	43

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

Projected returns pro-forma

3.1% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 31.2%
• Equity multiple: 2.77×
• Total profit: $39,640
• Equity at exit: $36,381

10-year hold

• IRR: 31.4%
• Equity multiple: 5.43×
• Total profit: $99,131
• Equity at exit: $56,424

Cash invested: $22,372 (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 58746

• Home prices YoY: 2.8%
• Active inventory: 10
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,247 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$68 /mo · $820/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $465

Break-even live

Break-even rent $659

Max offer price $79,900

Occupancy floor 58%

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $79,900 Active 27 DOM
2. 2026-06-17
   days on market $79,900 Active 26 DOM
3. 2026-06-16
   days on market $79,900 Active 25 DOM
4. 2026-06-15
   days on market $79,900 Active 24 DOM
5. 2026-06-13
   days on market $79,900 Active 22 DOM
6. 2026-06-12
   days on market $79,900 Active 21 DOM
7. 2026-06-09
   days on market $79,900 Active 18 DOM
8. 2026-06-08
   days on market $79,900 Active 17 DOM
9. 2026-06-07
   days on market $79,900 Active 16 DOM
10. 2026-06-05
    days on market $79,900 Active 14 DOM
11. 2026-06-04
    days on market $79,900 Active 12 DOM
12. 2026-06-02
    days on market $79,900 Active 11 DOM
13. 2026-06-01
    days on market $79,900 Active 10 DOM
14. 2026-05-31
    days on market $79,900 Active 9 DOM
15. 2026-05-22
    listed $79,900 Active
16. 2024-04-29
    soldstatus Closed 425-char remark

    Show marketing remark (425 chars)

    Here is an opportunity to renovate a home in Kenmare, ND! This home is being sold as is in its current condition. The home features 3 bedrooms and 1.75 baths. There are a total of 3 bedrooms and ¾ bathroom upstairs. The main floor has a living room, kitchen, and one full bathroom. The basement is unfinished. The home does need a considerable amount of work to be livable and will not qualify for FHA or VA financing.

17. 2024-04-29
    soldstatus $25,000

    Show marketing remark (425 chars)

    Here is an opportunity to renovate a home in Kenmare, ND! This home is being sold as is in its current condition. The home features 3 bedrooms and 1.75 baths. There are a total of 3 bedrooms and ¾ bathroom upstairs. The main floor has a living room, kitchen, and one full bathroom. The basement is unfinished. The home does need a considerable amount of work to be livable and will not qualify for FHA or VA financing.

18. 2024-04-08
    status Pending 425-char remark

    Show marketing remark (425 chars)

    Here is an opportunity to renovate a home in Kenmare, ND! This home is being sold as is in its current condition. The home features 3 bedrooms and 1.75 baths. There are a total of 3 bedrooms and ¾ bathroom upstairs. The main floor has a living room, kitchen, and one full bathroom. The basement is unfinished. The home does need a considerable amount of work to be livable and will not qualify for FHA or VA financing.

19. 2024-03-08
    listed $25,000 Active 425-char remark

    Show marketing remark (425 chars)

    Here is an opportunity to renovate a home in Kenmare, ND! This home is being sold as is in its current condition. The home features 3 bedrooms and 1.75 baths. There are a total of 3 bedrooms and ¾ bathroom upstairs. The main floor has a living room, kitchen, and one full bathroom. The basement is unfinished. The home does need a considerable amount of work to be livable and will not qualify for FHA or VA financing.

20. 2020-09-18
    soldstatus 448-char remark

    Show marketing remark (448 chars)

    Looking for a great opportunity to rebuild/renovate a single family home near the river and downtown Kenmare, ND? Located just 45 minutes from Minot, this is a wonderful community with a K-12 school, golf coarse, pharmacy, park, pool and much more. The home features three bedrooms, two bathrooms a large yard with mature trees and an attached garage. This is a HUD Home, Sold As-Is Case 401-141305 www. HUDHomestore.com. www. chronossolutions.com

21. 2020-08-11
    listed $16,341 448-char remark

    Show marketing remark (448 chars)

    Looking for a great opportunity to rebuild/renovate a single family home near the river and downtown Kenmare, ND? Located just 45 minutes from Minot, this is a wonderful community with a K-12 school, golf coarse, pharmacy, park, pool and much more. The home features three bedrooms, two bathrooms a large yard with mature trees and an attached garage. This is a HUD Home, Sold As-Is Case 401-141305 www. HUDHomestore.com. www. chronossolutions.com

22. 2015-08-20
    soldstatus
23. 2015-07-16
    soldstatus
24. 2015-05-20
    listed $75,000

ⓘ 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: $820 · $68/mo
• Projected year-2 tax: $820 · $68/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 1/10 Low 7 d/yr ≥93°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,965
• − Mortgage interest: −$4,476
• − Property taxes: −$820
• − Insurance: −$400
• − Repairs & maintenance: −$1,197
• − Management: −$1,197
• − Depreciation: −$2,324
• Taxable income: $4,551
• Est. tax owed @ 24.0%: −$1,092
• After-tax cash flow: $4,482/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: Kenmare 28
• NCES district ID: 3810180
• Math proficiency: 40% ▬ 0.00%
• Reading proficiency: 45% ▬ 0.00%
• Median HH income: $54,420
• Composite: 39.3/100
• National rank: #8176
• State rank: #89 of 169 in ND

Livability — Kenmare

• Score: 67/100
• State rank: #120
• US rank: #10142

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kenmare, ND
• Population (ZIP): 1,583

Population outlook (Ward County) Hauer SSP2

• Today (2025): 92,683 people
• By 2030: 104,825 · +13.1%
• By 2040: 131,945 · +42.4%
• By 2050: 163,134 · +76.0%
• By 2075: 256,561 · +176.8%
• By 2100: 354,426 · +282.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Portuguese 37% Scottish 3% Iranian 1%
• Foreign-born: 1% · Canada

Political lean MEDSL · Ward

• 2024 margin: Solid R (+47.4) · D 25.5% · R 72.8% · Other 1.7%
• 2008→2024 swing: -28.2pp toward R · 2008: -19.2pp · 2024: -47.4pp
• All cycles: 2024: R+47.4 2020: R+44.9 2016: R+47.7 2012: R+30.8 2008: R+19.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.10%
• Current HPI: 113.7062
• 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

+6.5% since first listed

10 events — show timeline

• 2026-05-22 Listed $79,900 MMLS
• 2024-04-29 Sold (Public Records) $25,000 Public Records
• 2024-04-29 Sold (MLS) — MMLS
• 2024-04-08 Pending — MMLS
• 2024-03-08 Listed $25,000 MMLS
• 2020-09-18 Sold (MLS) — MMLS
• 2020-08-11 Listed $16,341 MMLS
• 2015-08-20 Sold (Public Records) — Public Records
• 2015-07-16 Sold (MLS) — MMLS
• 2015-05-20 Listed $75,000 MMLS

Property tax history

+3.8%/yr

Latest (2024): $820 · -5.1% YoY. Source: county tax records.