112 New Jersey St · Bismarck, ND 58504

$14,000

2 bd · 2.0 ba · 840 sqft · Manufactured · 45 Days on market

Built 1982 Est $14k · at est. $850/mo HOA · 69% of rent ↓ 10% since listing

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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).

• Cash flow +15.0/30.0
• ARV discount +8.4/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.0/5.0
• Schools +3.7/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well cared for partially furnished home with an updated kitchen including new flooring and a newer water heater and furnace. The private master bedroom located in the rear of the home has a walk-in closet and master bath with large whirlpool shower/tub combo. A second bedroom and bathroom are located near the front entrance. The attached heated entry is finished and serves as a bonus room. From the entry, there is access to a very large deck and a fenced yard for enjoying the outdoors. Washer and dryer included.

Key facts

• Custom cabinetry
• Recessed lighting
• Updated flooring

Tags

• ELECTRIC FIREPLACE
• BUILT-IN SHELVING
• RECESSED LIGHTING
• UPDATED FLOORING
• CUSTOM CABINETRY
• BUTCHER BLOCK COUNTERTOPS

Property features AI

Finance

• HOA & community: Homeowners association with monthly fee; Association fee includes water, sewer, and trash; Community playground

Exterior

• Parking: On-street parking; Off-street parking; Concrete parking surface
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Natural gas available and connected; Electricity connected; Cable available; Phone available; Water connected; Sewer connected
• Home design: Residential mobile home (single wide); One level; Flat roof
• Construction: Built with other construction materials; Block foundation
• Exterior features: Private yard; Deck; Shed(s); Fenced back yard (chain link); Storage

Interior

• Kitchen: Gas range; Microwave; Refrigerator; Dishwasher
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating; Fireplace (living room)
• Interior features: Walk-in closet(s); Window treatments; Storage; Private entrance
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $14k.

Deal economics

• At list price, monthly cash flow is $26 ($317/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $14k).
• Recommended offer: $14k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 3.1% in Bismarck — 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.

Location & tenants

• Location reads 79/100 on livability (#5 in ND, #2,213 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: crime C-, amenities D+, commute F.
• Bismarck 1 (urban): math 41% / reading 42% proficiency, ranked #25 of 53 in ND (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 19% free/reduced lunch — higher-income household profile.
• Zoned schools: Jeannette Myhre Elementary School (math 22% / reading 22%, grade F, #216 of 236 statewide, top 93%, 254 students, 65% FRL); Wachter Middle School (math 34% / reading 34%, grade F, #26 of 35 statewide, top 79%, 1,000 students, 30% FRL); Bismarck High School (math 22% / reading 38%, grade F, #90 of 144 statewide, top 66%, 1,333 students, 27% FRL) — zoned schools average 41% FRL vs 19% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 29% at this address vs 42% district-wide (-13 pts) — the specific schools serving this property underperform the Bismarck 1 average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+2.8%/yr); 258 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 259 units permitted in Burleigh County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $97 of loan paydown is wiped out by about $420 of value loss. Plan a longer hold.
• Burleigh County population projected at +61% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 2.8% rent growth), your $4k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($14k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 29y ago; this cycle's ask has dropped $4k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 69% of rent.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $13,580 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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. 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: 8.76% ✓
• Cap rate: 8.56%
• Cash-on-cash: 8.09%
• DSCR: 1.36
• GRM: 1.0

CMA / ARV

• ARV (on-the-fly): $14,280
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
112 New Jersey St	0.00mi	2/2.0	840 (0%)	1mo	$14,000	$17	100
145 Georgia St	0.21mi	3/1.0 (+1)	924 (+10%)	2mo	$18,000	$19	63
1620 Pennsylvania Ave	0.27mi	2/1.0	924 (+10%)	10mo	$13,500	$15	59
1119 University Dr #1221	0.26mi	3/1.0 (+1)	952 (+13%)	2mo	$22,000	$23	55
725 12 St S #104	0.24mi	3/1.0 (+1)	896 (+7%)	23mo	$10,500	$12	49

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 · 2.81% rent growth · sell at horizon

5-year hold

• IRR: -1.9%
• Equity multiple: 0.93×
• Total profit: $-281
• Equity at exit: $2,087

10-year hold

• IRR: 9.6%
• Equity multiple: 1.80×
• Total profit: $3,154
• Equity at exit: $1,210

Cash invested: $3,920 (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 58504

• Rents YoY: 2.8%
• Active inventory: 258
• Price-to-rent: 1.0×

Monthly cashflow live

• Estimated rent: $1,227 high
• Mortgage (P&I): −$73
• Tax from tax record: −$13 /mo · $161/yr
• Insurance: −$6
• HOA: −$850
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $26

Break-even live

Break-even rent $1,193

Max offer price $14,000

Occupancy floor 93%

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: $3,500
• Closing costs: $420
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1102 S 3rd St Bismarck, ND	1.0	1.0	840	$825	$0.98	21d	1	0.78mi
2020 S 12th St Bismarck, ND	3.0	1.0–2.0	1185	$1,748	$1.48	21d	19	0.79mi
215 E Arbor Ave Unit 201-302E Bismarck, ND	2.0	1.0	1100	$995	$0.90	21d	1	0.84mi
215 E Arbor Ave Unit 205-305G Bismarck, ND	2.0	2.0	1031	$995	$0.97	21d	1	0.84mi
215 E Arbor Ave Unit 201-203E Bismarck, ND	1.0	1.0	900	$950	$1.06	21d	1	0.84mi
205 E Arbor Ave Bismarck, ND	2.0	2.0	1031	$995	$0.97	21d	1	0.89mi
2130 S 12th St Bismarck, ND	1.0–3.0	1.0–2.0	1152	$1,620	$1.41	21d	12	0.91mi
201 E Arbor Ave Bismarck, ND	2.0	1.0	1100	$995	$0.90	21d	1	0.91mi
407 N 12th St Unit 3/4 Bismarck, ND	2.0	1.0	1100	$1,200	$1.09	21d	1	1.09mi
2316 E Broadway Ave Bismarck, ND	3.0	1.0	1113	$1,250	$1.12	21d	1	1.20mi
500 N 3rd St Apt 324 Bismarck, ND	1.0	1.0	611	$1,100	$1.80	21d	1	1.40mi
120 East Avenue A Unit 114 EA Bismarck, ND	2.0	2.0	788	$1,595	$2.02	21d	1	1.43mi
700 N 22nd St Bismarck, ND	2.0	1.0	1000	$1,500	$1.50	21d	1	1.43mi

HOA detail

• Monthly dues: $850 · $10,200/yr
• Likely covers: waterpool

Listing history 10 events

1. 2026-05-09
   status Pending
2. 2026-04-29
   price $14,000
3. 2026-03-25
   listed $17,900 Active
4. 2024-11-13
   price $22,500
5. 2017-02-17
   soldstatus 517-char remark

   Show marketing remark (517 chars)

   Well cared for partially furnished home with an updated kitchen including new flooring and a newer water heater and furnace. The private master bedroom located in the rear of the home has a walk-in closet and master bath with large whirlpool shower/tub combo. A second bedroom and bathroom are located near the front entrance. The attached heated entry is finished and serves as a bonus room. From the entry, there is access to a very large deck and a fenced yard for enjoying the outdoors. Washer and dryer included.

6. 2016-11-20
   listed $20,500 517-char remark

   Show marketing remark (517 chars)

   Well cared for partially furnished home with an updated kitchen including new flooring and a newer water heater and furnace. The private master bedroom located in the rear of the home has a walk-in closet and master bath with large whirlpool shower/tub combo. A second bedroom and bathroom are located near the front entrance. The attached heated entry is finished and serves as a bonus room. From the entry, there is access to a very large deck and a fenced yard for enjoying the outdoors. Washer and dryer included.

7. 2005-12-13
   soldstatus
8. 2005-12-01
   listed $15,500
9. 1997-11-13
   soldstatus
10. 1997-09-22
    listed $15,500

ⓘ 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: $161 · $13/mo
• Projected year-2 tax: $161 · $13/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 6/10 Major FEMA zone X (shaded) · 72% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 12 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,721
• − Mortgage interest: −$784
• − Property taxes: −$161
• − Insurance: −$70
• − Repairs & maintenance: −$1,178
• − Management: −$1,178
• − HOA: −$10,200
• − Depreciation: −$407
• Taxable income: $743
• Est. tax owed @ 24.0%: −$178
• After-tax cash flow: $139/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: Bismarck 1
• NCES district ID: 3800014
• Math proficiency: 41% ▼ -5.00%
• Reading proficiency: 42% ▼ -6.00%
• Median HH income: $60,649
• Composite: 36.76/100
• National rank: #4577
• State rank: #25 of 53 in ND

Livability — Bismarck

• Score: 79/100
• State rank: #5
• US rank: #2213

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bismarck, ND
• County: Burleigh County · 97,300 people
• City population: 97,300
• Metro: Bismarck, ND
• Population (ZIP): 30,212
• Household income: $85,637
• Rent vs Own: 25.6% rent · 74.4% own
• Severe rent burden: 400.0

Population outlook (Burleigh County) Hauer SSP2

• Today (2025): 119,359 people
• By 2030: 133,047 · +11.5%
• By 2040: 161,545 · +35.3%
• By 2050: 191,960 · +60.8%
• By 2075: 274,569 · +130.0%
• By 2100: 350,910 · +194.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Native American 8% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Portuguese 13% Scotch-Irish 5% Romanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Burleigh

• 2024 margin: Solid R (+43.2) · D 27.5% · R 70.7% · Other 1.8%
• 2008→2024 swing: -19.7pp toward R · 2008: -23.6pp · 2024: -43.2pp
• All cycles: 2024: R+43.2 2020: R+40.2 2016: R+46.1 2012: R+32.1 2008: R+23.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -158.70%
• Current HPI: 210.0651
• Rent YoY: ▲ 2.81%
• Metro: Bismarck, ND
• 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

-9.7% since first listed

10 events — show timeline

• 2026-05-09 Pending — GNMLS
• 2026-04-29 Price Changed $14,000 GNMLS
• 2026-03-25 Listed $17,900 GNMLS
• 2024-11-13 Price Changed $22,500 GNMLS
• 2017-02-17 Sold (MLS) — GNMLS
• 2016-11-20 Listed $20,500 GNMLS
• 2005-12-13 Sold (MLS) — GNMLS
• 2005-12-01 Listed $15,500 GNMLS
• 1997-11-13 Sold (MLS) — GNMLS
• 1997-09-22 Listed $15,500 GNMLS