501 1st St NW

Bowbells, ND 58721

$72,900B

4 bd · 1.0 ba · 1,289 sqft · Built 1916 · SingleFamily · Active · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,224/mo
• Mortgage (P&I): −$382
• Tax + insurance: −$122
• HOA: −$0
• Vac / Maint / Mgmt: −$257
• Net cashflow: $463/mo
• Annual: $5,558/yr
• Cap rate: 13.92%
• Cash-on-cash: 27.23%
• DSCR: 2.21
• 1% rule: 1.68%
• Cash to close: $20,412

Investor read

• This is a 4-bed/1.0-bath single-family listed at $73k. Condition is rated fair.
• At list price, monthly cash flow is $463 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $73k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $3k of equity ($504 loan paydown + $2k appreciation (3.0% local appreciation)).
• Location reads 68/100 on livability (#115 in ND) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+; Watch: schools C-, health & safety D, amenities F.
• Bowbells 14 (rural): math 30% / reading 40% proficiency, ranked #124 of 169 in ND (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 15% free/reduced lunch — higher-income household profile.
• Watch-outs: built in 1916 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 3 active listings in the ZIP; 3 units permitted in Burke County in 2024 (0 in 5+ unit buildings).
• Burke County population projected at +80% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1916 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Driveway — Cracked and uneven
• Minor: Foundation — No visible cracks
• Minor: Windows — No visible damage