1011 19th St S · Moorhead, MN 56560

$385,000

12 bd · 4.0 ba · 4,026 sqft · MultiFamily · 37 Days on market

Built 1963 9,000 sqft lot $96/sqft · 49% above area Est $258k · 49% over ↓ 23% since listing

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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 +25.9/30.0
• DSCR +8.7/10.0
• 1% rule +6.5/10.0
• Livability +3.9/5.0
• Schools +3.7/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Seize this fantastic opportunity to start or expand your investment portfolio! Ideally located near a college campus, stores, and restaurants, this property offers convenience and appeal. Each spacious unit includes 3 bedrooms, 1 bathroom, a generous living room, and a kitchen. The lower level boasts a shared laundry room. Schedule a showing today.

Key facts

• 9,000 sq ft lot
• Built 1963
• Listed 37 days

Property features AI

Finance

• Other: 4 total residential units
• Financial info: Owner pays sewer, trash collection, and water; Tenants pay electricity and heat; Gross income reported at $53,080; Net operating income reported at $33,619; Rental license: Standard (licensed)
• HOA & community: Coin-op laundry owned by the association

Exterior

• Parking: No carport spaces
• Utilities: City water connected; City sewer connected; Natural gas
• Home design: Residential income property; Split entry (bi-level) design; Not owner-occupied
• Construction: Concrete and frame construction; Asphalt roof; Poured concrete foundation; Foundation area 2,013 (main level finished area 2,013)
• Exterior features: Vinyl exterior; Partial fencing; City street frontage with sidewalks; Publicly maintained road access

Interior

• Kitchen: Each unit includes a range, microwave, and refrigerator
• Bedrooms: 12 total bedrooms across units (unit layouts: three 3-bedroom units and one 3-bedroom unit — each unit is 3 bedrooms)
• Bathrooms: Each unit has 1 full bathroom
• Heating & cooling: Boiler heat; Wall-mounted cooling in each unit
• Interior features: Daylight/lookout basement windows; Common-area coin laundry
• Laundry & utility: Common-area laundry located on the lower level; Coin-operated laundry owned by the association

What this means for you Summary

Snapshot

• This is a 4 × 3-bed/1.0-bath units multifamily listed at $385k.

Deal economics

• At list price, monthly cash flow is $952 ($11k/yr) — positive. Per door: $238/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $385k).
• Recommended offer: $373k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.3% vs local median 3.7% in Moorhead — 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 77/100 on livability (#143 in MN, #3,111 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A-; Watch: crime C-, amenities F, commute F.
• Moorhead Public School District (suburban): math 39% / reading 46% proficiency, ranked #202 of 301 in MN (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Ellen Hopkins Elementary (math 50% / reading 42%, grade D-, #526 of 857 statewide, top 62%, 643 students, 46% FRL); Horizon Middle School (math 35% / reading 46%, grade F, #144 of 258 statewide, top 56%, 2,158 students, 48% FRL); Moorhead High School (math 44% / reading 59%, grade D+, #124 of 471 statewide, top 27%, 1,937 students, 40% FRL).
• Market conditions: Rents rising (+1.4%/yr); 394 active listings in the ZIP; solid renter incomes; 269 units permitted in Clay County in 2024 (153 in 5+ unit buildings).
• At $4,434/mo this rent would consume 71% of the median local household income ($75k/yr) (locally 2229% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Clay County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($373k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y 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 $255k; list at $385k implies a 51% gain — meaningful room to come down on a strong offer.

Recommended offer $373,450 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.15% ✓
• Cap rate: 9.26%
• Cash-on-cash: 10.60%
• DSCR: 1.47
• GRM: 7.2

CMA / ARV

• ARV (median comp): $257,831
• List price: $385,000
• Delta: 49.32%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.41% rent growth · sell at horizon

5-year hold

• IRR: -2.2%
• Equity multiple: 0.92×
• Total profit: $-8,729
• Equity at exit: $57,405

10-year hold

• IRR: 5.7%
• Equity multiple: 1.40×
• Total profit: $42,729
• Equity at exit: $33,288

Cash invested: $107,800 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 46 Balanced
• State Minnesota: 46 Balanced · D+2
• County: — inherits STATE
• City: — inherits STATE

2024 reforms strengthened tenant protections; ramsey/hennepin courts paced moderate to slow.

Methodology + full state rankings →

ZIP-level market 56560

• Rents YoY: 1.4%
• Active inventory: 394
• Price-to-rent: 28.9×

Monthly cashflow live

• Estimated rent: $4,434 high
• Mortgage (P&I): −$2,019
• Tax from tax record: −$371 /mo · $4,456/yr
• Insurance: −$160
• HOA: −$0
• Vacancy / Maint / Mgmt: −$931
• Net cashflow: $952

Break-even live

Break-even rent $3,229

Max offer price $385,000

Occupancy floor 74%

Sensitivity live

Price	-10% $1,170	-5% $1,061	+0% $952	+5% $843	+10% $734
Rent	-10% $602	-5% $777	+0% $952	+5% $1,127	+10% $1,302
Rate	-1.0pp $1,146	-0.5pp $1,050	base $952	+0.5pp $852	+1.0pp $751

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	3	1	$4,436
Total (4 units)			$4,434

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: $96,250
• Closing costs: $11,550
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-22
   days on market $385,000 Active 37 DOM
2. 2026-06-18
   days on market $385,000 Active 34 DOM
3. 2026-06-17
   days on market $385,000 Active 33 DOM
4. 2026-06-16
   days on market $385,000 Active 32 DOM
5. 2026-06-15
   days on market $385,000 Active 31 DOM
6. 2026-06-14
   days on market $385,000 Active 29 DOM
7. 2026-06-13
   days on market $385,000 Active 28 DOM
8. 2026-06-10
   days on market $385,000 Active 26 DOM
9. 2026-06-09
   days on market $385,000 Active 25 DOM
10. 2026-06-08
    days on market $385,000 Active 24 DOM
11. 2026-06-07
    days on market $385,000 Active 23 DOM
12. 2026-06-05
    days on market $385,000 Active 20 DOM
13. 2026-06-03
    days on market $385,000 Active 19 DOM
14. 2026-06-02
    days on market $385,000 Active 18 DOM
15. 2026-06-01
    days on market $385,000 Active 17 DOM
16. 2026-05-31
    days on market $385,000 Active 16 DOM
17. 2026-05-30
    days on market $385,000 Active 15 DOM
18. 2026-05-14
    listed $385,000 Active 666-char remark
19. 2024-10-11
    soldstatus $255,000 Sold 350-char remark

    Show marketing remark (350 chars)

    Seize this fantastic opportunity to start or expand your investment portfolio! Ideally located near a college campus, stores, and restaurants, this property offers convenience and appeal. Each spacious unit includes 3 bedrooms, 1 bathroom, a generous living room, and a kitchen. The lower level boasts a shared laundry room. Schedule a showing today.

20. 2024-08-14
    status Pending 350-char remark

    Show marketing remark (350 chars)

    Seize this fantastic opportunity to start or expand your investment portfolio! Ideally located near a college campus, stores, and restaurants, this property offers convenience and appeal. Each spacious unit includes 3 bedrooms, 1 bathroom, a generous living room, and a kitchen. The lower level boasts a shared laundry room. Schedule a showing today.

21. 2024-08-06
    historical Contingent - Inspection 350-char remark

    Show marketing remark (350 chars)

    Seize this fantastic opportunity to start or expand your investment portfolio! Ideally located near a college campus, stores, and restaurants, this property offers convenience and appeal. Each spacious unit includes 3 bedrooms, 1 bathroom, a generous living room, and a kitchen. The lower level boasts a shared laundry room. Schedule a showing today.

22. 2024-06-05
    listed $275,000 Active 350-char remark

    Show marketing remark (350 chars)

    Seize this fantastic opportunity to start or expand your investment portfolio! Ideally located near a college campus, stores, and restaurants, this property offers convenience and appeal. Each spacious unit includes 3 bedrooms, 1 bathroom, a generous living room, and a kitchen. The lower level boasts a shared laundry room. Schedule a showing today.

23. 2022-01-19
    soldstatus $735,000
24. 2022-01-11
    soldstatus $245,000

    Show marketing remark (478 chars)

    Don't miss out on this great opportunity to begin or add to your investment portfolio! Located conveniently nearby college campus, stores, and restaurants. Each large unit features 3 bedrooms, 1 bathroom, an enormous living room, and kitchen. The lower level features shared coin-operated laundry. Behind the building, a large yard allows tenants to enjoy the outdoors so close to home., Unit 1 Total Baths: 1, Unit 2 Total Baths: 1, Unit 3 Total Baths: 1, Unit 4 Total Baths: 1

25. 2021-10-01
    listed $269,000

    Show marketing remark (478 chars)

    Don't miss out on this great opportunity to begin or add to your investment portfolio! Located conveniently nearby college campus, stores, and restaurants. Each large unit features 3 bedrooms, 1 bathroom, an enormous living room, and kitchen. The lower level features shared coin-operated laundry. Behind the building, a large yard allows tenants to enjoy the outdoors so close to home., Unit 1 Total Baths: 1, Unit 2 Total Baths: 1, Unit 3 Total Baths: 1, Unit 4 Total Baths: 1

26. 2008-06-26
    soldstatus $500,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MN · Partial reset (capped growth)

• Current annual tax: $4,456 · $371/mo
• Projected year-2 tax: $4,456 · $371/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 (unshaded) · 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: $53,208
• − Mortgage interest: −$21,566
• − Property taxes: −$4,456
• − Insurance: −$1,925
• − Repairs & maintenance: −$4,257
• − Management: −$4,257
• − Depreciation: −$11,200
• Taxable income: $5,548
• Est. tax owed @ 24.0%: −$1,331
• After-tax cash flow: $10,094/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: Moorhead Public School District
• NCES district ID: 2721420
• Math proficiency: 39% ▼ -8.00%
• Reading proficiency: 46% ▼ -6.00%
• Median HH income: $53,009
• Composite: 36.83/100
• National rank: #4560
• State rank: #202 of 301 in MN

Livability — Moorhead

• Score: 77/100
• State rank: #143
• US rank: #3111

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Moorhead, MN
• County: Clay County · 44,405 people
• City population: 44,405
• Metro: Fargo, ND-MN
• Population (ZIP): 44,405
• Household income: $75,406
• Rent vs Own: 41.0% rent · 59.0% own
• Severe rent burden: 2229.0

Population outlook (Clay County) Hauer SSP2

• Today (2025): 67,880 people
• By 2030: 70,881 · +4.4%
• By 2040: 76,865 · +13.2%
• By 2050: 83,205 · +22.6%
• By 2075: 98,719 · +45.4%
• By 2100: 111,657 · +64.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Black 6% Two or more races 6% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 26% Lithuanian 3% Scottish 3%
• Foreign-born: 6% · Canada, Vietnam
• Languages at home: 91% English-only · Spanish 2% Other Indo-European 2% Arabic 1%

Political lean MEDSL · Clay

• 2024 margin: Toss-up / Even · D 49.2% · R 48.8% · Other 2.0%
• 2008→2024 swing: -15.5pp toward R · 2008: 16.0pp · 2024: 0.5pp
• All cycles: 2024: D+0.5 2020: D+4.1 2016: R+2.0 2012: D+8.0 2008: D+16.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -108.32%
• Current HPI: 177.038
• Rent YoY: ▲ 1.41%
• Metro: Fargo, ND-MN
• State GDP YoY: ▲ 2.41%
• F500 in state: 34

Industry mix (Fortune 500 HQ in MN)

Industry	F500 HQs	Revenue
▸Healthcare	2	$407B
▸Retail	2	$150B
▸Consumer Goods	2	$32B
▸Industrial Machinery	2	$6B
▸Agriculture	1	$40B
▸Healthcare / Medical Devices	1	$32B

Price history

-23.0% since first listed

9 events — show timeline

• 2026-05-14 Listed $385,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-10-11 Sold (MLS) $255,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-08-14 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2024-08-06 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2024-06-05 Listed $275,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-01-19 Sold (Public Records) $735,000 Public Records
• 2022-01-11 Sold (MLS) $245,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-10-01 Listed $269,000 NORTHSTARMLS as Distributed by MLS Grid
• 2008-06-26 Sold (Public Records) $500,000 Public Records

Property tax history

+1.8%/yr

Latest (2026): $4,456 · +1.0% YoY. Source: county tax records.