511 Seaton St · Glenburn, ND 58740

$22,500

2 bd · 2.0 ba · 2,640 sqft · Other · 28 Days on market

Built 1956 1,320 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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Appreciation +5.0/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• 1,320 sq ft lot
• 2 garage spots
• Built 1956

Property features AI

Exterior

• Parking: Attached or detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Below-grade finished area present
• Exterior features: Lot dimensions approximately 44 x 30; Zoned R1

Interior

• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Unfinished basement

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $22k.

Deal economics

• At list price, monthly cash flow is $654 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $22k).
• Recommended offer: $22k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#106 in ND) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: health & safety D, amenities F, commute F.
• Glenburn 26 (rural): math 40% / reading 35% proficiency, ranked #110 of 169 in ND (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 9 active listings in the ZIP; 4 units permitted in Renville County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $831 of equity ($156 loan paydown + $675 appreciation (3.0% local appreciation)).
• Renville County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($22k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $22,162 (1.5% below list)

Questions for the listing agent

1. Built in 1956 — 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. 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?
4. 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.
5. 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.
6. 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: 4.65% ✓
• Cap rate: 41.17%
• Cash-on-cash: 124.57%
• DSCR: 6.54
• GRM: 1.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 8.05×
• Total profit: $44,389
• Equity at exit: $10,117

10-year hold

• IRR: —
• Equity multiple: 16.82×
• Total profit: $99,688
• Equity at exit: $15,591

Cash invested: $6,300 (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 58740

• Active inventory: 9
• Price-to-rent: 1.8×

Monthly cashflow live

• Estimated rent: $1,047 medium
• Mortgage (P&I): −$118
• Tax from tax record: −$46 /mo · $551/yr
• Insurance: −$9
• HOA: −$0
• Vacancy / Maint / Mgmt: −$220
• Net cashflow: $654

Break-even live

Break-even rent $219

Max offer price $22,500

Occupancy floor 33%

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: $5,625
• Closing costs: $675
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-09
   statusdays on market $22,500 Pending 28 DOM
2. 2026-06-08
   days on market $22,500 Active 27 DOM
3. 2026-06-07
   days on market $22,500 Active 26 DOM
4. 2026-06-03
   listed $22,500 Active 21 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: $551 · $46/mo
• Projected year-2 tax: $551 · $46/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 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥94°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,566
• − Mortgage interest: −$1,260
• − Property taxes: −$551
• − Insurance: −$112
• − Repairs & maintenance: −$1,005
• − Management: −$1,005
• − Depreciation: −$655
• Taxable income: $7,977
• Est. tax owed @ 24.0%: −$1,914
• After-tax cash flow: $5,933/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: Glenburn 26
• NCES district ID: 3807850
• Math proficiency: 40% ▲ 10.00%
• Reading proficiency: 35% ▼ -5.00%
• Median HH income: $56,443
• Composite: 35.57/100
• National rank: #9727
• State rank: #110 of 169 in ND

Livability — Glenburn

• Score: 68/100
• State rank: #106
• US rank: #9358

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Glenburn, ND
• Population (ZIP): 744

Population outlook (Renville County) Hauer SSP2

• Today (2025): 2,678 people
• By 2030: 2,745 · +2.5%
• By 2040: 2,914 · +8.8%
• By 2050: 3,082 · +15.1%
• By 2075: 3,760 · +40.4%
• By 2100: 4,342 · +62.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 2% Asian 1%
• Common ancestry: Portuguese 27% Romanian 5% Lithuanian 4%
• Foreign-born: 2% · Canada
• Languages at home: 99% English-only · Tagalog/Filipino 1%

Political lean MEDSL · Renville

• 2024 margin: Solid R (+67.7) · D 14.9% · R 82.5% · Other 2.6%
• 2008→2024 swing: -45.8pp toward R · 2008: -21.8pp · 2024: -67.7pp
• All cycles: 2024: R+67.7 2020: R+64.1 2016: R+62.0 2012: R+35.5 2008: R+21.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

4 events — show timeline

• 2026-06-02 Relisted — MMLS
• 2026-05-24 Delisted — MMLS
• 2026-05-12 Contingent — MMLS
• 2026-05-03 Listed $22,500 MMLS

Property tax history

-6.7%/yr

Latest (2025): $551 · -21.4% YoY. Source: county tax records.