156 Sunnyside Mobile Mnr

Jamestown, ND 58401

$10,000D+

2 bd · 1.0 ba · 720 sqft · Built 1967 · Manufactured · Pending · 304 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $882/mo
• Mortgage (P&I): −$52
• Tax + insurance: −$13
• HOA: −$0
• Vac / Maint / Mgmt: −$185
• Net cashflow: $632/mo
• Annual: $7,579/yr
• Cap rate: 82.09%
• Cash-on-cash: 270.70%
• DSCR: 13.04
• 1% rule: 8.82%
• Cash to close: $2,800

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $10k.
• At list price, monthly cash flow is $632 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($882 rent vs $10k).
• It's been on market 304 days — a 12% lower offer ($9k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $9k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $69 of loan paydown is wiped out by about $300 of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#35 in ND) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: employment D+, health & safety D+, amenities F.
• Pingree-Buchanan 10 (rural): math 40% / reading 45% proficiency, ranked #85 of 169 in ND (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Pingree-Buchanan Elementary School (math 54% / reading 64%, grade B-, #19 of 236 statewide, top 13%, 98 students, 26% FRL); Pingree-Buchanan High School (math 24% / reading 44%, grade F, #77 of 144 statewide, top 57%, 70 students, 40% FRL).
• Market conditions: Rents rising (+3.7%/yr); 98 active listings in the ZIP; 19 units permitted in Stutsman County in 2024 (0 in 5+ unit buildings).
• Stutsman County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $4k (31%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 3.7% rent growth), your $3k cash investment doubles in ~1 year — after that, you're playing with house money.
• Cap rate 82.1% vs local median 3.2% in Jamestown — 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.
• This rent is only 18% of the median local income ($60k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• It's been on market 304 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.