3579 107th Ave NW

Keene, ND 58847

$110,000B

5 bd · 3.0 ba · 2,052 sqft · Built 2011 · Other · Active · 23 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,542/mo
• Mortgage (P&I): −$577
• Tax + insurance: −$183
• HOA: −$0
• Vac / Maint / Mgmt: −$324
• Net cashflow: $458/mo
• Annual: $5,493/yr
• Cap rate: 11.29%
• Cash-on-cash: 17.83%
• DSCR: 1.79
• 1% rule: 1.40%
• Cash to close: $30,800

Investor read

• This is a 5-bed/3.0-bath other listed at $110k. Condition is rated good.
• At list price, monthly cash flow is $458 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• It's been on market 23 days — a 2% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $108k (1.5% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($761 loan paydown + $3k appreciation (3.0% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Mckenzie County 1 (rural): math 33% / reading 36% proficiency, ranked #34 of 53 in ND (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 2 active listings in the ZIP; 38 units permitted in McKenzie County in 2024 (0 in 5+ unit buildings).
• McKenzie County population projected at +180% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

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