801 9th St E · West Fargo, ND 58078

$133,000

3 bd · 2.0 ba · 1,800 sqft · Land · 185 Days on market

Built 2025

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Why this score? — see what drove the B 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
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Rent growth +3.8/5.0
• Schools +3.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Home being built by West Fargo Building Trades Class starting September of 2022 and completed May of 2023. Home features 3 bedrooms, 2 baths, kitchen and bathroom cabinets. Home to be moved to a lot of the buyer's choice. Not included are lot, garage, floor coverings, kitchen and bathroom sinks, toilets, furnace, central air and moving costs. Electrical and plumbing are stubbed into the floor.

Key facts

• Built 2025
• Listed 185 days

Property features AI

Exterior

• Parking: No on-site parking or garage
• Utilities: No listed water source; No listed sewer; Other fuel type
• Home design: Residential property; One story; New construction
• Construction: Asphalt roof; Foundation details: see remarks; Above-grade finished area approximately 1,800 (main level finished area 1,800); Building area total approximately 1,800
• Exterior features: Vinyl exterior; No fencing

Interior

• Kitchen: Kitchen on main level; No appliances listed
• Bedrooms: 3 bedrooms (all on main level)
• Bathrooms: 1 full bath (main level); 1 three-quarter bath (main level)
• Heating & cooling: Other heating; No cooling
• Interior features: Main-level living with no basement; Dining room; Living room
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $133k.

Deal economics

• At list price, monthly cash flow is $630 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $133k).
• Recommended offer: $117k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.0% vs local median 3.1% in West Fargo — 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 77/100 on livability (#10 in ND, #2,868 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: health & safety D+, amenities F, commute F.
• West Fargo 6 (suburban): math 41% / reading 42% proficiency, ranked #26 of 53 in ND (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: L E Berger Elementary School (math 37% / reading 27%, grade F, #173 of 236 statewide, top 76%, 370 students, 72% FRL); Cheney Middle School (math 40% / reading 45%, grade D-, #18 of 35 statewide, top 50%, 1,012 students, 43% FRL); West Fargo Sheyenne High School (math 29% / reading 37%, grade F, #84 of 144 statewide, top 58%, 1,473 students, 20% FRL) — zoned schools average 45% FRL vs 24% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.1%/yr); 262 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,218 units permitted in Cass County in 2024 (410 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $920 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Cass County population projected at +69% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 5.1% rent growth), your $37k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 185 days — a 12% lower offer ($117k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 12y ago; this cycle's ask is 8% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Recommended offer $117,040 (12.0% below list)

Questions for the listing agent

1. It's been on market 185 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
6. 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.
7. 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: 1.47% ✓
• Cap rate: 11.98%
• Cash-on-cash: 20.30%
• DSCR: 1.90
• GRM: 5.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.13% rent growth · sell at horizon

5-year hold

• IRR: 14.9%
• Equity multiple: 1.61×
• Total profit: $22,894
• Equity at exit: $19,831

10-year hold

• IRR: 25.2%
• Equity multiple: 3.42×
• Total profit: $90,118
• Equity at exit: $11,499

Cash invested: $37,240 (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 58078

• Rents YoY: 5.1%
• Active inventory: 262
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,961 medium
• Mortgage (P&I): −$697
• Tax est. 1.5%: −$166 /mo · $1,995/yr
• Insurance: −$55
• HOA: −$0
• Vacancy / Maint / Mgmt: −$412
• Net cashflow: $630

Break-even live

Break-even rent $1,163

Max offer price $133,000

Occupancy floor 63%

Sensitivity live

Price	-10% $722	-5% $676	+0% $630	+5% $584	+10% $538
Rent	-10% $475	-5% $553	+0% $630	+5% $707	+10% $785
Rate	-1.0pp $697	-0.5pp $664	base $630	+0.5pp $596	+1.0pp $560

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: $33,250
• Closing costs: $3,990
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1702 2nd Ave E West Fargo, ND	4.0	2.0	1692	$2,150	$1.27	15d	1	0.59mi
4949 16th Ave S Fargo, ND	3.0	1.0–2.0	938	$1,585	$1.69	15d	7	0.84mi
1632 51st St S Fargo, ND	3.0	1.0–2.5	1352	$2,295	$1.70	22d	22	1.00mi
4311 15th Ave S Fargo, ND	3.0	1.0–2.0	855	$1,145	$1.34	22d	4	1.37mi

Listing history 45 events

1. 2026-06-21
   days on market $133,000 Active 185 DOM
2. 2026-06-18
   days on market $133,000 Active 182 DOM
3. 2026-06-17
   days on market $133,000 Active 181 DOM
4. 2026-06-16
   days on market $133,000 Active 180 DOM
5. 2026-06-15
   days on market $133,000 Active 179 DOM
6. 2026-06-14
   days on market $133,000 Active 177 DOM
7. 2026-06-13
   days on market $133,000 Active 176 DOM
8. 2026-06-10
   days on market $133,000 Active 174 DOM
9. 2026-06-09
   days on market $133,000 Active 173 DOM
10. 2026-06-08
    days on market $133,000 Active 172 DOM
11. 2026-06-07
    days on market $133,000 Active 171 DOM
12. 2026-06-05
    days on market $133,000 Active 168 DOM
13. 2026-06-03
    days on market $133,000 Active 167 DOM
14. 2026-06-02
    days on market $133,000 Active 166 DOM
15. 2026-06-01
    days on market $133,000 Active 165 DOM
16. 2026-05-31
    days on market $133,000 Active 164 DOM
17. 2026-05-30
    days on market $133,000 Active 163 DOM
18. 2025-12-19
    price $133,000
19. 2025-12-18
    status Active
20. 2025-03-01
    historical
21. 2025-01-09
    price $123,500
22. 2024-08-27
    price $128,500
23. 2024-08-27
    price $123,500
24. 2024-06-20
    price $132,066
25. 2024-01-15
    listed $123,000 Active
26. 2023-06-30
    soldstatus $129,272 399-char remark

    Show marketing remark (399 chars)

    Home being built by West Fargo Building Trades Class starting September of 2022 and completed May of 2023. Home features 3 bedrooms, 2 baths, kitchen and bathroom cabinets. Home to be moved to a lot of the buyer's choice. Not included are lot, garage, floor coverings, kitchen and bathroom sinks, toilets, furnace, central air and moving costs. Electrical and plumbing are stubbed into the floor.

27. 2023-06-20
    soldstatus $144,832
28. 2022-09-22
    listed $115,000 399-char remark

    Show marketing remark (399 chars)

    Home being built by West Fargo Building Trades Class starting September of 2022 and completed May of 2023. Home features 3 bedrooms, 2 baths, kitchen and bathroom cabinets. Home to be moved to a lot of the buyer's choice. Not included are lot, garage, floor coverings, kitchen and bathroom sinks, toilets, furnace, central air and moving costs. Electrical and plumbing are stubbed into the floor.

29. 2022-09-22
    listed $115,000

    Show marketing remark (399 chars)

    Home being built by West Fargo Building Trades Class starting September of 2022 and completed May of 2023. Home features 3 bedrooms, 2 baths, kitchen and bathroom cabinets. Home to be moved to a lot of the buyer's choice. Not included are lot, garage, floor coverings, kitchen and bathroom sinks, toilets, furnace, central air and moving costs. Electrical and plumbing are stubbed into the floor.

30. 2022-06-01
    soldstatus $101,543
31. 2021-09-28
    listed $95,000
32. 2021-06-01
    soldstatus $88,500
33. 2020-09-21
    listed $88,500
34. 2020-09-18
    soldstatus $75,500
35. 2019-11-26
    listed $78,900
36. 2019-08-16
    soldstatus $81,000
37. 2018-10-24
    historical
38. 2018-03-26
    listed $86,000
39. 2017-06-05
    listed $70,000
40. 2017-05-22
    soldstatus $98,621
41. 2016-05-31
    soldstatus $65,500
42. 2016-04-15
    listed $73,500
43. 2015-06-01
    soldstatus $65,000
44. 2015-05-08
    listed $65,500
45. 2014-02-28
    listed $65,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 12 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,531
• − Mortgage interest: −$7,450
• − Property taxes: −$1,995
• − Insurance: −$665
• − Repairs & maintenance: −$1,882
• − Management: −$1,882
• − Depreciation: −$3,869
• Taxable income: $5,787
• Est. tax owed @ 24.0%: −$1,389
• After-tax cash flow: $6,171/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: West Fargo 6
• NCES district ID: 3819410
• Math proficiency: 41% ▼ -10.00%
• Reading proficiency: 42% ▼ -10.00%
• Median HH income: $58,914
• Composite: 36.6/100
• National rank: #4628
• State rank: #26 of 53 in ND

Livability — West Fargo

• Score: 77/100
• State rank: #10
• US rank: #2868

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Fargo, ND
• County: Cass County · 177,143 people
• City population: 40,631
• Metro: Fargo, ND-MN
• Population (ZIP): 40,631
• Household income: $91,040
• Rent vs Own: 35.3% rent · 64.7% own
• Severe rent burden: 1154.0

Population outlook (Cass County) Hauer SSP2

• Today (2025): 223,771 people
• By 2030: 251,835 · +12.5%
• By 2040: 311,816 · +39.3%
• By 2050: 378,694 · +69.2%
• By 2075: 571,386 · +155.3%
• By 2100: 769,727 · +244.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 6% Black 4% Hispanic / Latino 3% Asian 2%
• Common ancestry: Portuguese 28% Lithuanian 3% Scottish 3%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 96% English-only · Other Indo-European 1% French/Haitian/Cajun 1% Other Asian/Pacific 1%

Political lean MEDSL · Cass

• 2024 margin: Lean R (+8.4) · D 44.9% · R 53.3% · Other 1.9%
• 2008→2024 swing: -15.5pp toward R · 2008: 7.1pp · 2024: -8.4pp
• All cycles: 2024: R+8.4 2020: R+2.7 2016: R+10.7 2012: R+3.0 2008: D+7.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -99.47%
• Current HPI: 181.6497
• Rent YoY: ▲ 5.13%
• Metro: Fargo, ND-MN
• 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

+104.6% since first listed

28 events — show timeline

• 2025-12-19 Price Changed $133,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-12-18 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2025-03-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-01-09 Price Changed $123,500 NORTHSTARMLS as Distributed by MLS Grid
• 2024-08-27 Price Changed $128,500 NORTHSTARMLS as Distributed by MLS Grid
• 2024-08-27 Price Changed $123,500 NORTHSTARMLS as Distributed by MLS Grid
• 2024-06-20 Price Changed $132,066 NORTHSTARMLS as Distributed by MLS Grid
• 2024-01-15 Listed $123,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-06-30 Sold (MLS) $129,272 NORTHSTARMLS as Distributed by MLS Grid
• 2023-06-20 Sold (MLS) $144,832 NORTHSTARMLS as Distributed by MLS Grid
• 2022-09-22 Listed $115,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-09-22 Listed $115,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-06-01 Sold (MLS) $101,543 NORTHSTARMLS as Distributed by MLS Grid
• 2021-09-28 Listed $95,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-06-01 Sold (MLS) $88,500 NORTHSTARMLS as Distributed by MLS Grid
• 2020-09-21 Listed $88,500 NORTHSTARMLS as Distributed by MLS Grid
• 2020-09-18 Sold (MLS) $75,500 NORTHSTARMLS as Distributed by MLS Grid
• 2019-11-26 Listed $78,900 NORTHSTARMLS as Distributed by MLS Grid
• 2019-08-16 Sold (MLS) $81,000 NORTHSTARMLS as Distributed by MLS Grid
• 2018-10-24 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2018-03-26 Listed $86,000 NORTHSTARMLS as Distributed by MLS Grid
• 2017-06-05 Listed $70,000 NORTHSTARMLS as Distributed by MLS Grid
• 2017-05-22 Sold (MLS) $98,621 NORTHSTARMLS as Distributed by MLS Grid
• 2016-05-31 Sold (MLS) $65,500 NORTHSTARMLS as Distributed by MLS Grid
• 2016-04-15 Listed $73,500 NORTHSTARMLS as Distributed by MLS Grid
• 2015-06-01 Sold (MLS) $65,000 NORTHSTARMLS as Distributed by MLS Grid
• 2015-05-08 Listed $65,500 NORTHSTARMLS as Distributed by MLS Grid
• 2014-02-28 Listed $65,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

-21.1%/yr

Latest (2025): $19,622 · -0.0% YoY. Source: county tax records.