201 Central Ave · Finley, ND 58230

$44,900

2 bd · 2.0 ba · 1,830 sqft · Other · 66 Days on market

Built 1910 6,446 sqft lot ↓ 13% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Schools +4.9/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• 6,446 sq ft lot
• Garage
• Built 1910

Property features AI

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $45k.

Deal economics

• At list price, monthly cash flow is $383 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($991 rent vs $45k).
• Recommended offer: $42k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#91 in ND) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A; Watch: crime C-, health & safety D+, amenities F.
• Finley-Sharon 19 (rural): math 50% / reading 60% proficiency, ranked #23 of 169 in ND (top 14%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 20% free/reduced lunch — higher-income household profile.
• Zoned schools: Finley-Sharon High School (math 70% / reading 50%, grade C+, #7 of 144 statewide, top 5%, 45 students, 53% FRL) — zoned schools average 53% FRL vs 20% district-wide (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 5 active listings in the ZIP; 4 units permitted in Steele County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($310 loan paydown + $1k appreciation (3.0% local appreciation)).
• Steele County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($42k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $7k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.9% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $42,206 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 2.21% ✓
• Cap rate: 16.52%
• Cash-on-cash: 36.54%
• DSCR: 2.63
• GRM: 3.8

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: 42.2%
• Equity multiple: 3.37×
• Total profit: $29,858
• Equity at exit: $20,189

10-year hold

• IRR: 42.1%
• Equity multiple: 6.75×
• Total profit: $72,229
• Equity at exit: $31,114

Cash invested: $12,572 (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 58230

• Active inventory: 5
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $991 medium
• Mortgage (P&I): −$235
• Tax from tax record: −$146 /mo · $1,748/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$208
• Net cashflow: $383

Break-even live

Break-even rent $506

Max offer price $44,900

Occupancy floor 56%

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: $11,225
• Closing costs: $1,347
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $44,900 Active 66 DOM
2. 2026-06-17
   days on market $44,900 Active 65 DOM
3. 2026-06-16
   days on market $44,900 Active 64 DOM
4. 2026-06-15
   days on market $44,900 Active 63 DOM
5. 2026-06-13
   pricedays on market $44,900 Active 61 DOM
6. 2026-06-12
   days on market $52,000 Active 60 DOM
7. 2026-06-09
   days on market $52,000 Active 57 DOM
8. 2026-06-08
   days on market $52,000 Active 56 DOM
9. 2026-06-07
   days on market $52,000 Active 55 DOM
10. 2026-06-05
    days on market $52,000 Active 53 DOM
11. 2026-06-04
    days on market $52,000 Active 51 DOM
12. 2026-06-02
    days on market $52,000 Active 50 DOM
13. 2026-06-01
    days on market $52,000 Active 49 DOM
14. 2026-05-31
    days on market $52,000 Active 48 DOM
15. 2026-04-13
    listed $52,000 Active
16. 2025-10-01
    historical
17. 2025-08-06
    price $49,900
18. 2025-06-17
    price $56,000
19. 2025-05-14
    listed $60,000 Active

ⓘ 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: $1,748 · $146/mo
• Projected year-2 tax: $1,748 · $146/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥95°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,888
• − Mortgage interest: −$2,515
• − Property taxes: −$1,748
• − Insurance: −$224
• − Repairs & maintenance: −$951
• − Management: −$951
• − Depreciation: −$1,306
• Taxable income: $4,192
• Est. tax owed @ 24.0%: −$1,006
• After-tax cash flow: $3,587/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: Finley-Sharon 19
• NCES district ID: 3806910
• Math proficiency: 50% ▼ -10.00%
• Reading proficiency: 60% ▬ 0.00%
• Median HH income: $48,407
• Composite: 48.57/100
• National rank: #4604
• State rank: #23 of 169 in ND

Livability — Finley

• Score: 70/100
• State rank: #91
• US rank: #8026

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: Finley, ND
• Population (ZIP): 586

Population outlook (Steele County) Hauer SSP2

• Today (2025): 1,921 people
• By 2030: 1,898 · -1.2%
• By 2040: 1,836 · -4.4%
• By 2050: 1,760 · -8.4%
• By 2075: 1,846 · -3.9%
• By 2100: 1,950 · +1.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 3%
• Common ancestry: Portuguese 34% Scottish 6% Slovak 1%
• Foreign-born: 1%

Political lean MEDSL · Steele

• 2024 margin: Strong R (+25.4) · D 36.5% · R 61.9% · Other 1.6%
• 2008→2024 swing: -45.7pp toward R · 2008: 20.4pp · 2024: -25.4pp
• All cycles: 2024: R+25.4 2020: R+23.9 2016: R+17.9 2012: D+1.9 2008: D+20.4

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

-13.3% since first listed

5 events — show timeline

• 2026-04-13 Listed $52,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-06 Price Changed $49,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-06-17 Price Changed $56,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-05-14 Listed $60,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+4.3%/yr

Latest (2025): $1,748 · +2.2% YoY. Source: county tax records.