1008 7th Ave N · Wahpeton, ND 58075

$92,000

3 bd · 1.0 ba · 926 sqft · SingleFamily public records · 48 Days on market

Built 1953 0.36 ac 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 +21.3/30.0
• ARV discount +7.5/15.0
• DSCR +6.8/10.0
• 1% rule +4.3/10.0
• Schools +3.9/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• 0.36 acre lot
• Garage
• Built 1953

Property features AI

Exterior

• Parking: One-car garage
• Utilities: City water; City sewer; Natural gas
• Home design: Residential single-story home; Entry and living areas on one level
• Construction: Asphalt roof; Crawl space foundation; Other foundation details
• Exterior features: Vinyl siding; Wood fencing; Garage(s); Storage shed

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Three bedrooms on the main level
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Baseboard heating; Wall-mounted cooling units
• Interior features: Gas water heater; Eat-in kitchen; All living facilities on one level
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $92k.

Deal economics

• At list price, monthly cash flow is $134 ($2k/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 $86k (6.5% below list).
• Recommended offer: $86k (6.5% below list) — sets the bar for 1% rule.
• Cap rate 8.0% vs local median 1.8% in Wahpeton — 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 67/100 on livability (#124 in ND) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, health & safety D+, employment D.
• Wahpeton 37 (town): math 46% / reading 44% proficiency, ranked #23 of 53 in ND (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 102 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 38 units permitted in Richland County in 2024 (0 in 5+ unit buildings).
• This rent is only 15% of the median local income ($69k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $636 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Richland County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $51k; list at $92k implies a 80% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $86,014 (6.5% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
2. Built in 1953 — 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. 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: 0.93% ✗
• Cap rate: 8.04%
• Cash-on-cash: 6.25%
• DSCR: 1.28
• GRM: 8.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -6.7%
• Equity multiple: 0.75×
• Total profit: $-6,404
• Equity at exit: $13,717

10-year hold

• IRR: 2.8%
• Equity multiple: 1.20×
• Total profit: $5,255
• Equity at exit: $7,954

Cash invested: $25,760 (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 58075

• Home prices YoY: -17.4%
• Active inventory: 102
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $860 high
• Mortgage (P&I): −$482
• Tax from tax record: −$25 /mo · $294/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$181
• Net cashflow: $134

Break-even live

Break-even rent $690

Max offer price $92,000

Occupancy floor 79%

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: $23,000
• Closing costs: $2,760
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
504 3rd Ave N Unit 102 Wahpeton, ND	2.0	1.0	550	$650	$1.18	21d	1	0.46mi
504 3rd Ave N Unit 205 Wahpeton, ND	2.0	1.0	550	$660	$1.20	21d	1	0.46mi
911 Western Rd Unit 03 Wahpeton, ND	2.0	1.0	700	$695	$0.99	21d	1	0.51mi
1287 16th Ave N Unit A204 Wahpeton, ND	2.0	1.0	800	$760	$0.95	13d	1	0.78mi
1606 8th St N Apt 59 Wahpeton, ND	2.0	1.0	686	$795	$1.16	13d	1	0.84mi
1612 8th St N Unit 70 Wahpeton, ND	2.0	1.0	686	$795	$1.16	13d	1	0.86mi
1612 8th St N Unit 68 Wahpeton, ND	2.0	1.0	686	$800	$1.17	43d	1	0.86mi
1621 7th St N Unit 19 Wahpeton, ND	2.0	1.0	686	$800	$1.17	44d	1	0.87mi
1621 7th St N Unit 18 Wahpeton, ND	2.0	1.0	686	$795	$1.16	13d	1	0.87mi
1624 8th St N Unit 77 Wahpeton, ND	2.0	1.0	686	$795	$1.16	13d	1	0.88mi
1627 7th St N Unit 4 Wahpeton, ND	2.0	1.0	686	$795	$1.16	13d	1	0.88mi
1627 7th St N Unit 2 Wahpeton, ND	3.0	1.0	800	$895	$1.12	13d	1	0.88mi
1676 9th St N Unit 4 Wahpeton, ND	2.0	1.0	800	$895	$1.12	13d	1	0.94mi
902 8th Ave S Wahpeton, ND	2.0	1.0	1094	$900	$0.82	13d	2	0.94mi
901 8th Ave S Wahpeton, ND	2.0	2.0	978	$1,085	$1.11	13d	1	1.00mi
1872 17th Ave N Wahpeton, ND	2.0	1.5	1092	$1,518	$1.39	13d	1	1.35mi

Listing history 9 events

1. 2026-06-04
   statusdays on market $92,000 Pending 48 DOM
2. 2026-06-02
   days on market $92,000 Contingent - Inspection 47 DOM
3. 2026-06-01
   days on market $92,000 Contingent - Inspection 46 DOM
4. 2026-05-31
   days on market $92,000 Contingent - Inspection 45 DOM
5. 2026-05-31
   days on market $92,000 Contingent - Inspection 44 DOM
6. 2026-05-05
   historical Contingent - Inspection
7. 2026-04-16
   listed $92,000 Active
8. 2025-12-11
   soldstatus
9. 2009-04-09
   soldstatus $51,000

ⓘ 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: $294 · $25/mo
• Projected year-2 tax: $902 · $75/mo
• Expected delta: +$607/yr (+$51/mo · 206.3%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°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: $10,322
• − Mortgage interest: −$5,153
• − Property taxes: −$294
• − Insurance: −$460
• − Repairs & maintenance: −$826
• − Management: −$826
• − Depreciation: −$2,676
• Taxable income: $86
• Est. tax owed @ 24.0%: −$21
• After-tax cash flow: $1,590/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: Wahpeton 37
• NCES district ID: 3819020
• Math proficiency: 46% ▲ 10.00%
• Reading proficiency: 44% ▲ 4.00%
• Median HH income: $49,234
• Composite: 38.58/100
• National rank: #4166
• State rank: #23 of 53 in ND

Livability — Wahpeton

• Score: 67/100
• State rank: #124
• US rank: #10388

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wahpeton, ND
• County: Richland County · 9,046 people
• City population: 9,046
• Metro: Wahpeton, ND-MN
• Population (ZIP): 9,046
• Household income: $68,537
• Rent vs Own: 47.3% rent · 52.7% own
• Severe rent burden: 362.0

Population outlook (Richland County) Hauer SSP2

• Today (2025): 16,847 people
• By 2030: 17,137 · +1.7%
• By 2040: 17,673 · +4.9%
• By 2050: 18,382 · +9.1%
• By 2075: 22,912 · +36.0%
• By 2100: 28,612 · +69.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 4% Native American 4% Two or more races 4% Black 1%
• Common ancestry: Portuguese 21% Lithuanian 3% Romanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Richland

• 2024 margin: Solid R (+37.9) · D 30.2% · R 68.0% · Other 1.8%
• 2008→2024 swing: -32.7pp toward R · 2008: -5.1pp · 2024: -37.9pp
• All cycles: 2024: R+37.9 2020: R+32.8 2016: R+36.1 2012: R+13.6 2008: R+5.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -50.35%
• Current HPI: 239.4167
• Rent YoY: —
• Metro: Wahpeton, 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

+80.4% since first listed

4 events — show timeline

• 2026-05-05 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-16 Listed $92,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-12-11 Sold (Public Records) — Public Records
• 2009-04-09 Sold (Public Records) $51,000 Public Records

Property tax history

-8.0%/yr

Latest (2025): $294 · -80.2% YoY. Source: county tax records.