1525 5th Ave NW · Minot, ND 58703

$180,000

3 bd · 2.0 ba · 1,364 sqft · SingleFamily public records · 17 Days on market

Built 1938 6,098 sqft lot Est $207k · 13% under

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Why this score? — see what drove the D+ 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 +13.5/30.0
• ARV discount +13.4/15.0
• DSCR +4.1/10.0
• Rent growth +3.9/5.0
• Schools +3.8/10.0
• Livability +3.8/5.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome Home to this affordable and conveniently located home situated across the street from Longfellow Elementary and walking distance to Oak Park. Featuring 3 bedrooms and 2 bathrooms, this charming and updated home is move-in ready and could be your new Home, Sweet, Home. The main floor boasts a hard to find master suite with an attached full bathroom, spacious kitchen with ample counter and cupboard space, cozy dining area, large carpeted living room, and another bathroom with a shower. Downstairs you will find 2 more egress bedrooms, a cozy family room, and the laundry/mechanical room. The washer and dryer will stay with the sale. Outside take advantage of the partially privacy fenced and large backyard, newly added parking pad, and useful storage shed. So many pleasing features on this well-kept property. Don't miss out on this great home at an affordable price!

Key facts

• Bright kitchen
• Large backyard
• Inviting dining area

Tags

• SPACIOUS PRIMARY BEDROOM
• BRIGHT KITCHEN
• INVITING DINING AREA
• COMFORTABLE LIVING ROOM
• LOWER LEVEL FAMILY ROOM
• LARGE BACKYARD

Property features AI

Exterior

• Parking: Gravel parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Below-grade finished area
• Exterior features: Yard with shed(s)

Interior

• Kitchen: Dishwasher; Microwave; Range/Oven; Refrigerator
• Heating & cooling: Central air conditioning; Forced air heating (natural gas)
• Interior features: Finished full basement; Dishwasher; Microwave; Range/Oven; Refrigerator

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $5 ($63/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 $135k (25.2% below list).
• Recommended offer: $135k (25.2% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 2.4% in Minot — 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 75/100 on livability (#21 in ND, #3,953 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Minot 1 (town): math 41% / reading 46% proficiency, ranked #24 of 53 in ND (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+5.7%/yr); 146 active listings in the ZIP; solid renter incomes; 123 units permitted in Ward County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Ward County population projected at +76% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $145k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1938 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $134,562 (25.2% below list)

Questions for the listing agent

1. Built in 1938 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.75% ✗
• Cap rate: 6.33%
• Cash-on-cash: 0.13%
• DSCR: 1.01
• GRM: 11.1

CMA / ARV

• ARV (on-the-fly): $207,328
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1714 University Ave W	0.29mi	3/2.0	1,374 (+1%)	2mo	$309,900	$226	84
624 19th St NW	0.23mi	2/2.0 (-1)	1,344 (-2%)	1mo	$237,000	$176	81
1204 7th Ave NW	0.27mi	3/2.0	1,364 (0%)	8mo	$208,000	$152	80
509 NW 13th St	0.17mi	2/1.0 (-1)	1,344 (-2%)	5mo	$194,900	$145	76
616 NW 18th St	0.17mi	3/2.0	1,496 (+10%)	2mo	$220,000	$147	74
522 11th St St NW	0.34mi	3/1.0	1,388 (+2%)	8mo	$175,000	$126	71
623 12th St NW	0.26mi	2/1.0 (-1)	1,292 (-5%)	3mo	$174,900	$135	68
908 7th Ave NW	0.46mi	3/2.0	1,424 (+4%)	4mo	$219,000	$154	67
221 17th St St NW	0.20mi	3/2.0	1,554 (+14%)	2mo	$187,500	$121	66
100 21st St	0.45mi	3/1.0	1,224 (-10%)	1mo	$200,000	$163	57
1108 11th St NW	0.53mi	2/1.0 (-1)	1,440 (+6%)	1mo	$227,500	$158	56
809 4th Ave NW	0.55mi	3/2.0	1,232 (-10%)	5mo	$184,000	$149	54

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

Projected returns pro-forma

-3.0% appreciation · 5.74% rent growth · sell at horizon

5-year hold

• IRR: -13.6%
• Equity multiple: 0.50×
• Total profit: $-25,115
• Equity at exit: $26,839

10-year hold

• IRR: -1.4%
• Equity multiple: 0.90×
• Total profit: $-5,276
• Equity at exit: $15,563

Cash invested: $50,400 (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 58703

• Rents YoY: 5.7%
• Active inventory: 146
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $1,346 medium
• Mortgage (P&I): −$944
• Tax from tax record: −$39 /mo · $466/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $5

Break-even live

Break-even rent $1,339

Max offer price $180,000

Occupancy floor 95%

Sensitivity live

Price	-10% $107	-5% $56	+0% $5	+5% $-46	+10% $-97
Rent	-10% $-101	-5% $-48	+0% $5	+5% $58	+10% $112
Rate	-1.0pp $96	-0.5pp $51	base $5	+0.5pp $-41	+1.0pp $-89

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-19
   statusdays on market $180,000 Active 17 DOM
2. 2026-06-18
   days on market $180,000 Active Under Contract 16 DOM
3. 2026-06-17
   days on market $180,000 Active Under Contract 15 DOM
4. 2026-06-16
   days on market $180,000 Active Under Contract 14 DOM
5. 2026-06-15
   days on market $180,000 Active Under Contract 13 DOM
6. 2026-06-14
   days on market $180,000 Active Under Contract 11 DOM
7. 2026-06-12
   days on market $180,000 Active Under Contract 10 DOM
8. 2026-06-09
   days on market $180,000 Active Under Contract 7 DOM
9. 2026-06-08
   days on market $180,000 Active Under Contract 6 DOM
10. 2026-06-07
    statusdays on market $180,000 Active Under Contract 5 DOM
11. 2026-06-03
    listed $180,000 Active 1 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: $466 · $39/mo
• Projected year-2 tax: $1,764 · $147/mo
• Expected delta: +$1,298/yr (+$108/mo · 278.6%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥95°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,147
• − Mortgage interest: −$10,083
• − Property taxes: −$466
• − Insurance: −$900
• − Repairs & maintenance: −$1,292
• − Management: −$1,292
• − Depreciation: −$5,236
• Taxable loss: −$3,121
• Est. tax savings @ 24.0%: +$749
• After-tax cash flow: $812/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: Minot 1
• NCES district ID: 3813030
• Math proficiency: 41% ▼ -4.00%
• Reading proficiency: 46% ▼ -1.00%
• Median HH income: $54,224
• Composite: 37.79/100
• National rank: #4341
• State rank: #24 of 53 in ND

Livability — Minot

• Score: 75/100
• State rank: #21
• US rank: #3953

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Minot, ND
• County: Ward County · 55,225 people
• City population: 55,225
• Metro: Minot, ND
• Population (ZIP): 22,139
• Household income: $82,728
• Rent vs Own: 39.0% rent · 61.0% own
• Severe rent burden: 543.0

Population outlook (Ward County) Hauer SSP2

• Today (2025): 92,683 people
• By 2030: 104,825 · +13.1%
• By 2040: 131,945 · +42.4%
• By 2050: 163,134 · +76.0%
• By 2075: 256,561 · +176.8%
• By 2100: 354,426 · +282.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Hispanic / Latino 9% Two or more races 8% Black 6% Asian 1%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Portuguese 20% Lithuanian 3% Scottish 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Ward

• 2024 margin: Solid R (+47.4) · D 25.5% · R 72.8% · Other 1.7%
• 2008→2024 swing: -28.2pp toward R · 2008: -19.2pp · 2024: -47.4pp
• All cycles: 2024: R+47.4 2020: R+44.9 2016: R+47.7 2012: R+30.8 2008: R+19.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -203.01%
• Current HPI: 138.9083
• Rent YoY: ▲ 5.74%
• Metro: Minot, ND
• 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

+56.7% since first listed

12 events — show timeline

• 2026-06-02 Listed $180,000 MMLS
• 2023-07-10 Sold (Public Records) $144,700 Public Records
• 2023-07-10 Sold (MLS) — MMLS
• 2023-06-05 Listed $144,700 MMLS
• 2020-04-28 Sold (Public Records) $114,900 Public Records
• 2020-04-27 Sold (MLS) — MMLS
• 2020-02-03 Listed $114,900 MMLS
• 2015-08-31 Sold (Public Records) — Public Records
• 2012-03-14 Sold (Public Records) — Public Records
• 2012-03-14 Sold (Public Records) — Public Records
• 2011-12-16 Sold (Public Records) — Public Records
• 2011-06-29 Sold (Public Records) — Public Records

Property tax history

-8.7%/yr

Latest (2025): $466 · -69.8% YoY. Source: county tax records.