212 7th St S · New Salem, ND 58563

$115,900

3 bd · 1.5 ba · 1,092 sqft · Other · 29 Days on market

Built 1930 10,478 sqft lot

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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 +15.8/30.0
• ARV discount +7.5/15.0
• Appreciation +7.3/10.0
• DSCR +4.9/10.0
• Schools +4.7/10.0
• Livability +3.6/5.0
• 1% rule +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• Front enclosed porch
• Refinished floors
• Large yard

Tags

• CENTRAL AIR
• REFINISHED FLOORS
• LARGE YARD
• FENCE
• HARDWOOD THROUGHOUT
• FRONT ENCLOSED PORCH

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Wood siding and metal siding; Asphalt and metal roof; Stone foundation; Built with basement
• Exterior features: Porch; Rain barrel/cistern(s); Wood fencing; Shed(s); Corner lot

Interior

• Flooring: Wood flooring
• Bathrooms: One three-quarter bathroom; One half bathroom
• Heating & cooling: Central air conditioning; Ceiling fans; Forced air heating; Natural gas heating
• Interior features: Ceiling fans; Unfinished basement with concrete and dirt floor
• Laundry & utility: Washer; Dryer; Oven

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath other listed at $116k.

Deal economics

• At list price, monthly cash flow is $53 ($636/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 $92k (20.3% below list).
• Recommended offer: $92k (20.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 72/100 on livability (#51 in ND) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety D-.
• New Salem-Almont 49 (rural): math 55% / reading 50% proficiency, ranked #33 of 169 in ND (top 20%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: 13 active listings in the ZIP; 94 units permitted in Morton County in 2024 (5 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($801 loan paydown + $5k appreciation (4.5% local appreciation)).
• Morton County population projected at +48% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (4.5% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $50k; list at $116k implies a 132% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $92,331 (20.3% below list)

Questions for the listing agent

1. Built in 1930 — 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. 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 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: 0.80% ✗
• Cap rate: 6.84%
• Cash-on-cash: 1.96%
• DSCR: 1.09
• GRM: 10.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.5% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.3%
• Equity multiple: 1.82×
• Total profit: $26,764
• Equity at exit: $62,208

10-year hold

• IRR: 14.3%
• Equity multiple: 3.45×
• Total profit: $79,526
• Equity at exit: $104,596

Cash invested: $32,452 (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 58563

• Home prices YoY: 3.6%
• Active inventory: 13
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $923 medium
• Mortgage (P&I): −$608
• Tax from tax record: −$20 /mo · $244/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$194
• Net cashflow: $53

Break-even live

Break-even rent $856

Max offer price $115,900

Occupancy floor 89%

Sensitivity live

Price	-10% $119	-5% $86	+0% $53	+5% $20	+10% $-152
Rent	-10% $-20	-5% $17	+0% $53	+5% $89	+10% $126
Rate	-1.0pp $111	-0.5pp $82	base $53	+0.5pp $23	+1.0pp $-8

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: $28,975
• Closing costs: $3,477
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $115,900 Active 29 DOM
2. 2026-06-19
   days on market $115,900 Active 27 DOM
3. 2026-06-18
   days on market $115,900 Active 26 DOM
4. 2026-06-17
   days on market $115,900 Active 25 DOM
5. 2026-06-16
   days on market $115,900 Active 24 DOM
6. 2026-06-15
   days on market $115,900 Active 23 DOM
7. 2026-06-14
   days on market $115,900 Active 21 DOM
8. 2026-06-13
   days on market $115,900 Active 20 DOM
9. 2026-06-10
   days on market $115,900 Active 18 DOM
10. 2026-06-09
    days on market $115,900 Active 17 DOM
11. 2026-06-08
    days on market $115,900 Active 16 DOM
12. 2026-06-07
    days on market $115,900 Active 15 DOM
13. 2026-06-05
    days on market $115,900 Active 12 DOM
14. 2026-06-03
    days on market $115,900 Active 11 DOM
15. 2026-06-02
    days on market $115,900 Active 10 DOM
16. 2026-06-01
    days on market $115,900 Active 9 DOM
17. 2026-05-31
    days on market $115,900 Active 8 DOM
18. 2026-05-30
    days on market $115,900 Active 7 DOM
19. 2026-05-23
    listed $115,900 Active
20. 2019-05-21
    soldstatus $50,000

ⓘ 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: $244 · $20/mo
• Projected year-2 tax: $1,136 · $95/mo
• Expected delta: +$892/yr (+$74/mo · 365.9%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥96°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,080
• − Mortgage interest: −$6,492
• − Property taxes: −$244
• − Insurance: −$580
• − Repairs & maintenance: −$886
• − Management: −$886
• − Depreciation: −$3,372
• Taxable loss: −$1,380
• Est. tax savings @ 24.0%: +$331
• After-tax cash flow: $967/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: New Salem-Almont 49
• NCES district ID: 3800392
• Math proficiency: 55% ▲ 5.00%
• Reading proficiency: 50% ▲ 5.00%
• Median HH income: $52,772
• Composite: 47.05/100
• National rank: #5126
• State rank: #33 of 169 in ND

Livability — New Salem

• Score: 72/100
• State rank: #51
• US rank: #6472

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Salem, ND
• Population (ZIP): 1,850

Population outlook (Morton County) Hauer SSP2

• Today (2025): 36,682 people
• By 2030: 39,967 · +9.0%
• By 2040: 46,921 · +27.9%
• By 2050: 54,157 · +47.6%
• By 2075: 73,661 · +100.8%
• By 2100: 89,885 · +145.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 2%
• Common ancestry: Portuguese 11% Scotch-Irish 7% Lithuanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · German/W. Germanic 1%

Political lean MEDSL · Morton

• 2024 margin: Solid R (+53.8) · D 22.2% · R 75.9% · Other 1.9%
• 2008→2024 swing: -32.7pp toward R · 2008: -21.0pp · 2024: -53.8pp
• All cycles: 2024: R+53.8 2020: R+50.4 2016: R+53.0 2012: R+31.1 2008: R+21.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.50%
• Current HPI: 128.6345
• 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

+131.8% since first listed

2 events — show timeline

• 2026-05-23 Listed $115,900 GNMLS
• 2019-05-21 Sold (Public Records) $50,000 Public Records

Property tax history

-13.1%/yr

Latest (2025): $244 · -62.4% YoY. Source: county tax records.