205 12th Ave E · West Fargo, ND 58078

$279,900

4 bd · 1.0 ba · 1,008 sqft · MultiFamily public records · 15 Days on market

Built 1976 5,192 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 +25.3/30.0
• DSCR +8.4/10.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• Livability +3.9/5.0
• Rent growth +3.8/5.0
• Schools +3.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Welcome home to this one of a kind, well cared for twin home in the heart of WF! Enjoy main level living with exterior access to both dining & living room areas. Functional kitchen features beautiful painted cabinets, tile backsplash & 2 pantry cabinets convenient for extra storage. Cozy up to the wood burning fireplace during the upcoming winter months. 3 bedrooms located down the hall including primary bedroom that features WIC w/ access to hollywood bath. Head down to the basement to find 4th bedroom, 2nd full bathroom, large family room area w/ recessed lighting, & bonus room area that can be used as a 5th bedroom by adding door/privacy curtains (no egress). Think that's all? Head outside to your fully fenced in backyard that features immense patio area & plenty of yard space that is

Key facts

• Open floor plan
• Painted cabinets
• Hollywood bath

Tags

• UPGRADES AND REMODELING
• OPEN FLOOR PLAN
• PAINTED CABINETS
• STAINLESS STEEL APPLIANCES
• NEWER LAMINATE FLOORING
• HOLLYWOOD BATH

Property features AI

Exterior

• Parking: 2-car garage (24 x 26, 7 ft door height, 16 ft door width)
• Utilities: City water connected; City sewer connected; Natural gas
• Home design: Residential attached property; One level
• Construction: Poured concrete foundation (foundation dimensions 38 x 27); Foundation area 1,008 sq ft
• Exterior features: Vinyl exterior; Lot approximately 38.5 x 140 ft

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Bedrooms: 4 bedrooms (all on the main level)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Full basement; Fireplace (1)
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath multifamily listed at $280k.

Deal economics

• At list price, monthly cash flow is $639 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $280k).
• Recommended offer: $276k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.0% vs local median 3.1% in West 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 77/100 on livability (#10 in ND, #2,868 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: health & safety D+, amenities F, commute F.
• West Fargo 6 (suburban): math 41% / reading 42% proficiency, ranked #26 of 53 in ND (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: West Fargo High School (math 32% / reading 42%, grade F, #71 of 144 statewide, top 52%, 1,423 students, 32% FRL).
• Market conditions: Rents rising fast (+5.1%/yr); 257 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,218 units permitted in Cass County in 2024 (410 in 5+ unit buildings).
• This rent runs 42% of the median local income ($91k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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.
• At projected returns (-3.0% appreciation + 5.1% rent growth), your $78k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($276k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 7y 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 $240k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $275,701 (1.5% below list)

Questions for the listing agent

1. Built in 1976 — 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. 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?
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 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: 1.13% ✓
• Cap rate: 9.03%
• Cash-on-cash: 9.78%
• DSCR: 1.44
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.13% rent growth · sell at horizon

5-year hold

• IRR: 0.8%
• Equity multiple: 1.03×
• Total profit: $2,304
• Equity at exit: $41,734

10-year hold

• IRR: 12.4%
• Equity multiple: 2.07×
• Total profit: $84,244
• Equity at exit: $24,201

Cash invested: $78,372 (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 58078

• Rents YoY: 5.1%
• Active inventory: 257
• Price-to-rent: 22.0×

Monthly cashflow live

• Estimated rent: $3,176 medium
• Mortgage (P&I): −$1,468
• Tax from tax record: −$286 /mo · $3,427/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$667
• Net cashflow: $639

Break-even live

Break-even rent $2,367

Max offer price $279,900

Occupancy floor 75%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$3,177
Total (3 units)			$3,176

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: $69,975
• Closing costs: $8,397
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1207 1st St West Fargo, ND	1.0–3.0	1.0–2.0	900	$1,215	$1.35	13d	12	0.12mi
1318 6th St E West Fargo, ND	3.0	1.0	1044	$900	$0.86	14d	2	0.27mi
424 6th St E West Fargo, ND	2.0–3.0	1.0–2.0	980	$880	$0.90	21d	7	0.61mi
1409 14th Ave E West Fargo, ND	2.0–3.0	1.0	900	$1,050	$1.17	21d	1	0.98mi
214 5th St NW West Fargo, ND	3.0	1.0	1088	$1,495	$1.37	21d	1	1.13mi
4949 16th Ave S Fargo, ND	3.0	1.0–2.0	938	$1,585	$1.69	14d	7	1.30mi
1632 51st St S Fargo, ND	3.0	1.0–2.5	1352	$2,295	$1.70	21d	22	1.39mi
1501 48th St S Fargo, ND	3.0	1.0–2.0	800	$1,320	$1.65	14d	19	1.48mi

Listing history 14 events

1. 2026-05-30
   statusdays on market $279,900 Pending 15 DOM
2. 2026-05-17
   historical Contingent - Inspection
3. 2026-05-15
   listed $279,900 Active
4. 2023-10-13
   soldstatus $240,000 814-char remark

   Show marketing remark (814 chars)

   Welcome home to this one of a kind, well cared for twin home in the heart of WF! Enjoy main level living with exterior access to both dining & living room areas. Functional kitchen features beautiful painted cabinets, tile backsplash & 2 pantry cabinets convenient for extra storage. Cozy up to the wood burning fireplace during the upcoming winter months. 3 bedrooms located down the hall including primary bedroom that features WIC w/ access to hollywood bath. Head down to the basement to find 4th bedroom, 2nd full bathroom, large family room area w/ recessed lighting, & bonus room area that can be used as a 5th bedroom by adding door/privacy curtains (no egress). Think that's all? Head outside to your fully fenced in backyard that features immense patio area & plenty of yard space that is

5. 2023-10-13
   soldstatus $240,000

   Show marketing remark (814 chars)

   Welcome home to this one of a kind, well cared for twin home in the heart of WF! Enjoy main level living with exterior access to both dining & living room areas. Functional kitchen features beautiful painted cabinets, tile backsplash & 2 pantry cabinets convenient for extra storage. Cozy up to the wood burning fireplace during the upcoming winter months. 3 bedrooms located down the hall including primary bedroom that features WIC w/ access to hollywood bath. Head down to the basement to find 4th bedroom, 2nd full bathroom, large family room area w/ recessed lighting, & bonus room area that can be used as a 5th bedroom by adding door/privacy curtains (no egress). Think that's all? Head outside to your fully fenced in backyard that features immense patio area & plenty of yard space that is

6. 2023-08-23
   listed $239,900 814-char remark

   Show marketing remark (814 chars)

   Welcome home to this one of a kind, well cared for twin home in the heart of WF! Enjoy main level living with exterior access to both dining & living room areas. Functional kitchen features beautiful painted cabinets, tile backsplash & 2 pantry cabinets convenient for extra storage. Cozy up to the wood burning fireplace during the upcoming winter months. 3 bedrooms located down the hall including primary bedroom that features WIC w/ access to hollywood bath. Head down to the basement to find 4th bedroom, 2nd full bathroom, large family room area w/ recessed lighting, & bonus room area that can be used as a 5th bedroom by adding door/privacy curtains (no egress). Think that's all? Head outside to your fully fenced in backyard that features immense patio area & plenty of yard space that is

7. 2023-01-20
   soldstatus $229,000 357-char remark

   Show marketing remark (357 chars)

   Fantastic updated twin rambler in West Fargo! The main level features a spacious living area with fireplace, nice kitchen and dining with stainless steel appliances, 3 bedrooms, and a Hollywood bath. The basement features another great living area, another bedroom, another bathroom, and laundry. Outside, enjoy the fully fenced yard with patio! A must see!

8. 2022-11-09
   listed $225,000 357-char remark

   Show marketing remark (357 chars)

   Fantastic updated twin rambler in West Fargo! The main level features a spacious living area with fireplace, nice kitchen and dining with stainless steel appliances, 3 bedrooms, and a Hollywood bath. The basement features another great living area, another bedroom, another bathroom, and laundry. Outside, enjoy the fully fenced yard with patio! A must see!

9. 2020-09-21
   soldstatus $204,900
10. 2020-07-23
    listed $204,900
11. 2020-01-09
    soldstatus $125,000
12. 2019-11-08
    listed $140,000
13. 2017-11-07
    soldstatus
14. 2012-07-25
    soldstatus $115,000

ⓘ 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: $3,427 · $286/mo
• Projected year-2 tax: $3,427 · $286/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 · 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: $38,112
• − Mortgage interest: −$15,679
• − Property taxes: −$3,427
• − Insurance: −$1,400
• − Repairs & maintenance: −$3,049
• − Management: −$3,049
• − Depreciation: −$8,143
• Taxable income: $3,367
• Est. tax owed @ 24.0%: −$808
• After-tax cash flow: $6,860/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: West Fargo 6
• NCES district ID: 3819410
• Math proficiency: 41% ▼ -10.00%
• Reading proficiency: 42% ▼ -10.00%
• Median HH income: $58,914
• Composite: 36.6/100
• National rank: #4628
• State rank: #26 of 53 in ND

Livability — West Fargo

• Score: 77/100
• State rank: #10
• US rank: #2868

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Fargo, ND
• County: Cass County · 177,143 people
• City population: 40,631
• Metro: Fargo, ND-MN
• Population (ZIP): 40,631
• Household income: $91,040
• Rent vs Own: 35.3% rent · 64.7% own
• Severe rent burden: 1154.0

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 (86%)
• Race & ethnicity: White 86% Two or more races 6% Black 4% Hispanic / Latino 3% Asian 2%
• Common ancestry: Portuguese 28% Lithuanian 3% Scottish 3%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 96% English-only · Other Indo-European 1% French/Haitian/Cajun 1% Other Asian/Pacific 1%

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: ▼ -99.47%
• Current HPI: 181.6497
• Rent YoY: ▲ 5.13%
• 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

+143.4% since first listed

13 events — show timeline

• 2026-05-17 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-15 Listed $279,900 NORTHSTARMLS as Distributed by MLS Grid
• 2023-10-13 Sold (Public Records) $240,000 Public Records
• 2023-10-13 Sold (MLS) $240,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-08-23 Listed $239,900 NORTHSTARMLS as Distributed by MLS Grid
• 2023-01-20 Sold (MLS) $229,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-11-09 Listed $225,000 NORTHSTARMLS as Distributed by MLS Grid
• 2020-09-21 Sold (MLS) $204,900 NORTHSTARMLS as Distributed by MLS Grid
• 2020-07-23 Listed $204,900 NORTHSTARMLS as Distributed by MLS Grid
• 2020-01-09 Sold (MLS) $125,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-11-08 Listed $140,000 NORTHSTARMLS as Distributed by MLS Grid
• 2017-11-07 Sold (Public Records) — Public Records
• 2012-07-25 Sold (Public Records) $115,000 Public Records

Property tax history

+6.9%/yr

Latest (2025): $3,427 · +24.7% YoY. Source: county tax records.