806 N 29 St N · Fargo, ND 58102

$180,000

3 bd · 1.0 ba · 1,112 sqft · SingleFamily public records · 24 Days on market

Built 1975 7,750 sqft lot

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Why this score? — see what drove the F 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 +7.8/30.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Rent growth +3.7/5.0
• Schools +3.6/10.0
• Condition / age +2.5/5.0
• 1% rule +1.9/10.0
• DSCR +1.9/10.0
• Appreciation +0.0/10.0

Key facts

• 7,750 sq ft lot
• 2 garage spots
• Built 1975

Property features AI

Exterior

• Parking: 2-car garage
• Utilities: City water connected; City sewer connected; Electric fuel
• Home design: Residential one-level home; Entry/main level living; Block foundation
• Construction: Block foundation
• Exterior features: Lot approximately 7,750 sq ft (66' x 118')

Interior

• Kitchen: Main-level kitchen
• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Basement with drain tile and sump pump

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $-197 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $145k (19.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $123k (31.4% below list).
• Recommended offer: $123k (31.4% below list) — sets the bar for 1% rule.
• Cap rate 5.0% vs local median 2.5% in 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 85/100 on livability (#1 in ND, #605 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F.
• Fargo 1 (urban): math 41% / reading 44% proficiency, ranked #28 of 53 in ND (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.7%/yr); 205 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 1,218 units permitted in Cass County in 2024 (410 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.
• Cass County population projected at +69% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $135k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $123,416 (31.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1975 — 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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. 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?
6. 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.
7. 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.
8. 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: 0.69% ✗
• Cap rate: 4.98%
• Cash-on-cash: -4.69%
• DSCR: 0.79
• GRM: 12.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.71% rent growth · sell at horizon

5-year hold

• IRR: -22.5%
• Equity multiple: 0.21×
• Total profit: $-39,570
• Equity at exit: $26,839

10-year hold

• IRR: -13.2%
• Equity multiple: 0.18×
• Total profit: $-41,527
• 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 58102

• Rents YoY: 4.7%
• Active inventory: 205
• Price-to-rent: 12.2×

Monthly cashflow live

• Estimated rent: $1,234 high
• Mortgage (P&I): −$944
• Tax from tax record: −$153 /mo · $1,835/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $-197

Break-even live

Break-even rent $1,483

Max offer price $145,229

Occupancy floor —

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: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1920 Dakota Dr N Fargo, ND	2.0–3.0	1.0–2.0	842	$1,730	$2.05	13d	6	0.70mi
1951 Dakota Dr N Fargo, ND	2.0–3.0	2.0	1051	$1,395	$1.33	13d	5	0.74mi
1900 Dakota Dr N Fargo, ND	3.0–4.0	2.0–3.0	1324	$1,425	$1.08	13d	7	0.74mi
1142 17th St N Fargo, ND	2.0	2.0	1009	$1,320	$1.31	20d	1	0.92mi
904 16th St N Unit 12 Fargo, ND	2.0	1.0	700	$760	$1.09	13d	1	0.93mi
1010 16th St N Unit 1010-15 Fargo, ND	2.0	1.0	711	$775	$1.09	20d	1	0.93mi
1125 17th St N Unit 1125-2 Fargo, ND	2.0	1.0	1345	$850	$0.63	20d	1	0.94mi
902 15th St N Unit 4/5 Fargo, ND	3.0	2.0	1200	$995	$0.83	20d	1	1.00mi
1510 11th Ave N Unit 2 Fargo, ND	2.0	1.0	900	$775	$0.86	13d	1	1.01mi
1515 11th Ave N Fargo, ND	4.0	1.0–4.0	862	$2,136	$2.48	13d	18	1.03mi
899 Barrett St Apt 104 Fargo, ND	2.0	2.0	1311	$1,425	$1.09	13d	1	1.15mi
1820 Dakota Dr Fargo, ND	4.0	1.0–3.0	972	$1,595	$1.64	13d	8	1.26mi
1321 5th Ave N Fargo, ND	2.0	1.0	880	$998	$1.13	13d	3	1.31mi
909 12th St N Unit 2 Fargo, ND	2.0	1.0	762	$1,000	$1.31	20d	1	1.39mi
929 Page Dr Unit 302 Fargo, ND	3.0	1.0	1000	$960	$0.96	20d	1	1.40mi
929 Page Dr Apt 203 Fargo, ND	2.0	1.0	868	$815	$0.94	20d	1	1.40mi
1005 12th St N Fargo, ND	2.0	2.0	1224	$1,645	$1.34	20d	1	1.41mi
1015 Page Dr Apt 301 Fargo, ND	2.0	1.0	850	$745	$0.88	20d	1	1.43mi
312 11th St N Fargo, ND	2.0	1.0–2.0	874	$1,575	$1.80	13d	17	1.47mi
1102 22nd St S Fargo, ND	1.0–2.0	1.0	800	$815	$1.02	13d	9	1.49mi

Listing history 8 events

1. 2026-06-07
   statusdays on market $180,000 Pending 24 DOM
2. 2026-06-02
   days on market $180,000 Active 21 DOM
3. 2026-06-01
   days on market $180,000 Active 20 DOM
4. 2026-05-31
   days on market $180,000 Active 19 DOM
5. 2026-05-30
   days on market $180,000 Active 18 DOM
6. 2026-05-21
   price $180,000
7. 2026-05-12
   listed $190,000 Active
8. 2026-05-04
   soldstatus $135,000

ⓘ 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: $1,835 · $153/mo
• Projected year-2 tax: $1,835 · $153/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 (shaded) · 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: $14,810
• − Mortgage interest: −$10,083
• − Property taxes: −$1,835
• − Insurance: −$900
• − Repairs & maintenance: −$1,185
• − Management: −$1,185
• − Depreciation: −$5,236
• Taxable loss: −$5,613
• Est. tax savings @ 24.0%: +$1,347
• After-tax cash flow: $-1,015/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: Fargo 1
• NCES district ID: 3806780
• Math proficiency: 41% ▼ -7.00%
• Reading proficiency: 44% ▼ -7.00%
• Median HH income: $46,524
• Composite: 36.23/100
• National rank: #4721
• State rank: #28 of 53 in ND

Livability — Fargo

• Score: 85/100
• State rank: #1
• US rank: #605

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fargo, ND
• County: Cass County · 177,143 people
• City population: 130,876
• Metro: Fargo, ND-MN
• Population (ZIP): 32,912
• Household income: $59,533
• Rent vs Own: 53.8% rent · 46.2% own
• Severe rent burden: 1919.0

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 (84%)
• Race & ethnicity: White 84% Hispanic / Latino 5% Two or more races 5% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Portuguese 27% Romanian 3% Scottish 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 92% English-only · Spanish 3% Other Indo-European 2%

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: ▼ -171.16%
• Current HPI: 155.885
• Rent YoY: ▲ 4.71%
• 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

+33.3% since first listed

3 events — show timeline

• 2026-05-21 Price Changed $180,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-12 Listed $190,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-04 Sold (Public Records) $135,000 Public Records

Property tax history

+0.0%/yr

Latest (2025): $1,835 · -33.9% YoY. Source: county tax records.