3494 Eagle Run Ln · West Fargo, ND 58078

$299,900

3 bd · 2.0 ba · 2,519 sqft · MultiFamily public records · 16 Days on market

Built 2006 5,052 sqft lot

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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 +27.9/30.0
• DSCR +9.9/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Key facts

• Cozy fireplace
• Main-floor laundry
• Walk-in pantry

Tags

• COZY FIREPLACE
• WALK-IN PANTRY
• MAIN-FLOOR LAUNDRY

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: City water (connected); City sewer (connected); Natural gas
• Home design: Residential attached property; Two levels; Entry/main level living space
• Construction: Wood foundation
• Exterior features: Vinyl exterior; Storage shed

Interior

• Kitchen: Eat-in kitchen with breakfast bar; Walk-in pantry
• Bedrooms: 3 bedrooms (one on the main level)
• Bathrooms: Main-level three-quarter bathroom; Upper-level full bathroom; Primary bath is a walk-through
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Fireplace (1)
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $927 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $300k).
• Recommended offer: $295k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.0% 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: Osgood Elem School (math 41% / reading 39%, grade F, #132 of 236 statewide, top 57%, 564 students, 37% FRL); Liberty Middle School (math 33% / reading 39%, grade F, #23 of 35 statewide, top 65%, 1,102 students, 23% 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 at 27% FRL track the district average.
• Market conditions: Rents rising fast (+5.1%/yr); 262 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,218 units permitted in Cass County in 2024 (410 in 5+ unit buildings).
• At $3,655/mo this rent would consume 48% of the median local household income ($91k/yr) (locally 1154% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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 $84k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($295k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $23k; list at $300k implies a 1215% gain — meaningful room to come down on a strong offer.

Recommended offer $295,401 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.22% ✓
• Cap rate: 10.00%
• Cash-on-cash: 13.24%
• DSCR: 1.59
• GRM: 6.8

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: 5.5%
• Equity multiple: 1.22×
• Total profit: $18,414
• Equity at exit: $44,716

10-year hold

• IRR: 16.7%
• Equity multiple: 2.50×
• Total profit: $126,271
• Equity at exit: $25,930

Cash invested: $83,972 (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: 13.7×

Monthly cashflow live

• Estimated rent: $3,655 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$263 /mo · $3,156/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$768
• Net cashflow: $927

Break-even live

Break-even rent $2,482

Max offer price $299,900

Occupancy floor 70%

Sensitivity live

Price	-10% $1,097	-5% $1,012	+0% $927	+5% $842	+10% $757
Rent	-10% $638	-5% $782	+0% $927	+5% $1,071	+10% $1,215
Rate	-1.0pp $1,078	-0.5pp $1,003	base $927	+0.5pp $849	+1.0pp $770

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,654
Total (2 units)			$3,655

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
320 32nd Ave W West Fargo, ND	2.0–3.0	1.5–2.5	1475	$2,500	$1.69	22d	1	0.43mi
5599 36th Ave S Fargo, ND	1.0–3.0	1.0–2.0	1351	$2,400	$1.78	15d	9	1.43mi

Listing history 11 events

1. 2026-06-21
   pricedays on market $299,900 Active 16 DOM
2. 2026-06-18
   days on market $305,000 Active 13 DOM
3. 2026-06-17
   days on market $305,000 Active 12 DOM
4. 2026-06-16
   days on market $305,000 Active 11 DOM
5. 2026-06-15
   days on market $305,000 Active 10 DOM
6. 2026-06-14
   pricedays on market $305,000 Active 8 DOM
7. 2026-06-13
   days on market $310,000 Active 7 DOM
8. 2026-06-10
   days on market $310,000 Active 5 DOM
9. 2026-06-09
   days on market $310,000 Active 4 DOM
10. 2026-06-08
    days on market $310,000 Active 3 DOM
11. 2026-06-07
    listed $310,000 Active 2 DOM

ⓘ 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: $3,156 · $263/mo
• Projected year-2 tax: $3,156 · $263/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 · 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: $43,860
• − Mortgage interest: −$16,799
• − Property taxes: −$3,156
• − Insurance: −$1,500
• − Repairs & maintenance: −$3,509
• − Management: −$3,509
• − Depreciation: −$8,724
• Taxable income: $6,663
• Est. tax owed @ 24.0%: −$1,599
• After-tax cash flow: $9,522/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

+1259.6% since first listed

3 events — show timeline

• 2026-06-05 Listed $310,000 NORTHSTARMLS as Distributed by MLS Grid
• 2009-05-11 Sold (Public Records) — Public Records
• 2006-04-26 Sold (Public Records) $22,800 Public Records

Property tax history

-1.0%/yr

Latest (2025): $3,156 · -26.3% YoY. Source: county tax records.