329 Central Ave

Beach, ND 58621

$159,000D

3 bd · 2.0 ba · 1,744 sqft · Built 1946 · SingleFamily · Active · 68 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,265/mo
• Mortgage (P&I): −$834
• Tax + insurance: −$265
• HOA: −$0
• Vac / Maint / Mgmt: −$266
• Net cashflow: $-100/mo
• Annual: $-1,197/yr
• Cap rate: 5.54%
• Cash-on-cash: -2.69%
• DSCR: 0.88
• 1% rule: 0.80%
• Cash to close: $44,520

Investor read

• This is a 3-bed/2.0-bath single-family listed at $159k.
• At list price, monthly cash flow is $-100 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $145k (9.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $126k (20.5% below list).
• It's been on market 68 days — a 6% lower offer ($149k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $126k (20.5% below list) — sets the bar for 1% rule.
• In year one you build about $6k of equity ($1k loan paydown + $5k appreciation (3.0% local appreciation)).
• Location reads 79/100 on livability (#4 in ND, #2,032 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Beach 3 (rural): math 40% / reading 40% proficiency, ranked #107 of 169 in ND (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 21 active listings in the ZIP; 5 units permitted in Golden Valley County in 2024 (0 in 5+ unit buildings).
• Golden Valley County population projected at +51% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts since 9y 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.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 68 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
• Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.