13 3rd St NE · Hazen, ND 58545

$150,000

3 bd · 2.0 ba · 1,908 sqft · SingleFamily · 6 Days on market

Built 1940 Fair condition 0.26 ac lot Est $156k · at est.

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Why this score? — see what drove the C 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 +15.5/30.0
• Appreciation +10.0/10.0
• ARV discount +9.4/15.0
• DSCR +4.8/10.0
• 1% rule +4.3/10.0
• Schools +3.9/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Key facts

• Newer gas fireplace
• Bamboo ceiling tiles
• Dual sinks

Tags

• OPEN CONCEPT LIVING ROOM
• NEWER GAS FIREPLACE
• BAMBOO CEILING TILES
• TUBE SKYLIGHTS
• DUAL SINKS
• NEWER WALK-IN SHOWER

Property features AI

Exterior

• Parking: Attached garage; 2 garage spaces; Off-street and additional parking; Concrete driveway/parking
• Utilities: Public water; Public sewer
• Home design: Single family residence; One level
• Construction: Brick and stucco construction; Shingle roof; Slab foundation; Built as a residential single-family home
• Exterior features: Private yard; Fenced backyard; Shed(s)

Interior

• Kitchen: Cooktop; Electric cooktop; Oven; Dishwasher; Exhaust fan
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom
• Heating & cooling: Electric heating; Fireplace heating (living room, gas); Exhaust fan; Ceiling fan(s); Wall/window cooling units
• Interior features: Ceiling fan(s); Pantry; Sauna; Window treatments; Skylight(s)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $150k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $61 ($736/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $139k (7.3% below list).
• Recommended offer: $139k (7.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 75/100 on livability (#25 in ND, #4,265 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety D-.
• Hazen 3 (rural): math 41% / reading 45% proficiency, ranked #22 of 53 in ND (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: 38 active listings in the ZIP; 15 units permitted in Mercer County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Mercer County population projected at +38% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $138,984 (7.3% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.93% ✗
• Cap rate: 6.78%
• Cash-on-cash: 1.75%
• DSCR: 1.08
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $156,456
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
222 3rd St NE	0.14mi	3/2.0	1,766 (-7%)	11mo	$45,200	$26	72
410 2nd Ave NW	0.22mi	3/2.0	2,003 (+5%)	18mo	$239,900	$120	67
317 1st Ave NW	0.15mi	4/2.0 (+1)	1,800 (-6%)	18mo	$128,000	$71	63
315 Central Ave N	0.10mi	2/1.0 (-1)	1,750 (-8%)	14mo	$104,500	$60	61
310 3rd St NE	0.19mi	4/2.5 (+1)	1,801 (-6%)	23mo	$129,900	$72	56
522 6th Ave NE	0.43mi	4/1.0 (+1)	2,021 (+6%)	8mo	$165,000	$82	54
621 8th Ave NE	0.54mi	4/2.5 (+1)	2,072 (+9%)	11mo	$228,000	$110	44
303 6th Ave NW	0.60mi	4/3.0 (+1)	1,952 (+2%)	24mo	$268,000	$137	39

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.5%
• Equity multiple: 3.04×
• Total profit: $85,623
• Equity at exit: $135,132

10-year hold

• IRR: 22.5%
• Equity multiple: 6.93×
• Total profit: $249,114
• Equity at exit: $291,417

Cash invested: $42,000 (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 58545

• Home prices YoY: 8.1%
• Active inventory: 38
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,390 medium
• Mortgage (P&I): −$787
• Tax est. 1.5%: −$188 /mo · $2,250/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $61

Break-even live

Break-even rent $1,312

Max offer price $150,000

Occupancy floor 91%

Sensitivity live

Price	-10% $165	-5% $113	+0% $61	+5% $10	+10% $-42
Rent	-10% $-48	-5% $6	+0% $61	+5% $116	+10% $171
Rate	-1.0pp $137	-0.5pp $100	base $61	+0.5pp $22	+1.0pp $-17

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-12
   status Pending
2. 2026-05-06
   listed $150,000 Active

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

Taxation est. · year 1

• Rental income: $16,678
• − Mortgage interest: −$8,402
• − Property taxes: −$2,250
• − Insurance: −$750
• − Repairs & maintenance: −$1,334
• − Management: −$1,334
• − Depreciation: −$4,364
• Taxable loss: −$1,756
• Est. tax savings @ 24.0%: +$422
• After-tax cash flow: $1,158/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.

Condition & rehab AI · 13 photos

Fair 45/100 Moderate rehab

The home requires moderate renovations to improve its condition and appeal, focusing on exterior updates, interior paint, and kitchen and bathroom renovations.

Repairs flagged

• Moderate Brick siding — Weathered and discolored
• Moderate Kitchen cabinets — Dated appearance
• Minor Bathroom fixtures — Functional but dated

Value-add opportunities

• Resale Paint interior walls — Fresh paint enhances curb appeal
• Resale Replace carpeted floors — New flooring improves aesthetics
• Resale Update kitchen cabinets — Modern cabinets increase appeal and functionality
• Resale Replace bathroom fixtures — Upgraded fixtures enhance bathroom's appearance
• Both Landscaping — Fresh landscaping improves curb appeal and enhances property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Brick siding · Weathered and discolored	Moderate	$3,000–15,000
Kitchen cabinets · Dated appearance	Moderate	$3,000–15,000
Bathroom fixtures · Functional but dated	Minor	$500–3,000
Total estimated repair cost · 3 items		$6,500–33,000

Value-add ROI direction

• Resale Paint interior walls — Fresh paint enhances curb appeal ↑
• Resale Replace carpeted floors — New flooring improves aesthetics ↑
• Resale Update kitchen cabinets — Modern cabinets increase appeal and functionality ↑
• Resale Replace bathroom fixtures — Upgraded fixtures enhance bathroom's appearance ↑
• Both Landscaping — Fresh landscaping improves curb appeal and enhances property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Hazen 3
• NCES district ID: 3800031
• Math proficiency: 41% ▼ -9.00%
• Reading proficiency: 45% ▼ -4.00%
• Median HH income: $71,408
• Composite: 39.02/100
• National rank: #4066
• State rank: #22 of 53 in ND

Livability — Hazen

• Score: 75/100
• State rank: #25
• US rank: #4265

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hazen, ND
• Population (ZIP): 3,278

Population outlook (Mercer County) Hauer SSP2

• Today (2025): 9,891 people
• By 2030: 10,506 · +6.2%
• By 2040: 11,872 · +20.0%
• By 2050: 13,612 · +37.6%
• By 2075: 19,871 · +100.9%
• By 2100: 25,938 · +162.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 2% Hispanic / Latino 2% Black 1% Native American 1%
• Common ancestry: Portuguese 15% Scotch-Irish 5% Iranian 3%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · German/W. Germanic 2% Spanish 1% French/Haitian/Cajun 1%

Political lean MEDSL · Mercer

• 2024 margin: Solid R (+69.0) · D 14.8% · R 83.8% · Other 1.3%
• 2008→2024 swing: -39.2pp toward R · 2008: -29.9pp · 2024: -69.0pp
• All cycles: 2024: R+69.0 2020: R+67.4 2016: R+67.9 2012: R+44.9 2008: R+29.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 23.62%
• Current HPI: 315.26
• 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

2 events — show timeline

• 2026-05-12 Pending — GNMLS
• 2026-05-06 Listed $150,000 GNMLS