9687 87th Ave NE · Calvin, ND 58323

$89,000

3 bd · 1.0 ba · 900 sqft · SingleFamily · 20 Days on market

Built 1940 Fair condition 3.75 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 +18.3/30.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• Appreciation +5.0/10.0
• 1% rule +4.9/10.0
• Schools +4.1/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Key facts

• Workshop space
• Hobby farm
• Country retreat

Tags

• 3.76-ACRE PROPERTY
• QUONSET STORAGE
• WORKSHOP SPACE
• COUNTRY RETREAT
• HOBBY FARM
• INVESTMENT OPPORTUNITY

Property features AI

Finance

• Other:
• Financial info:
• HOA & community:

Exterior

• Parking: Attached garage with 1 parking space
• Security:
• Utilities: Propane
• Home design: Single-family residence; Two levels
• Construction: Block foundation
• Exterior features: Vinyl siding; Lot approximately 3.76 acres; Lot dimensions about 394.05 x 415.20

Interior

• Kitchen:
• Bedrooms:
• Flooring:
• Bathrooms: One three-quarter bathroom
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Full basement; 6 total rooms
• Laundry & utility:

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $89k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $82 ($986/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 $88k (0.8% below list).
• Recommended offer: $88k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#131 in ND) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, crime A; Watch: amenities F, commute F, health & safety D-.
• Langdon Area 23 (rural): math 38% / reading 51% proficiency, ranked #83 of 169 in ND (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Langdon Area Elementary School (math 52% / reading 57%, grade C, #39 of 236 statewide, top 21%, 239 students, 23% FRL); Langdon Area High School (math 27% / reading 47%, grade F, #71 of 144 statewide, top 52%, 176 students, 19% FRL) — zoned schools at 21% FRL track the district average.
• Market conditions: 1 active listings in the ZIP; 2 units permitted in Cavalier County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($615 loan paydown + $3k appreciation (3.0% local appreciation)).
• At projected returns (3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($88k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,665 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1940 — 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: 0.99% ✗
• Cap rate: 7.40%
• Cash-on-cash: 3.96%
• DSCR: 1.18
• GRM: 8.4

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: 11.2%
• Equity multiple: 1.64×
• Total profit: $15,969
• Equity at exit: $40,018

10-year hold

• IRR: 13.4%
• Equity multiple: 2.99×
• Total profit: $49,545
• Equity at exit: $61,673

Cash invested: $24,920 (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 58323

• Active inventory: 1
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $883 medium
• Mortgage (P&I): −$467
• Tax est. 1.5%: −$111 /mo · $1,335/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$185
• Net cashflow: $82

Break-even live

Break-even rent $779

Max offer price $89,000

Occupancy floor 86%

Sensitivity live

Price	-10% $144	-5% $113	+0% $82	+5% $51	+10% $21
Rent	-10% $12	-5% $47	+0% $82	+5% $117	+10% $152
Rate	-1.0pp $127	-0.5pp $105	base $82	+0.5pp $59	+1.0pp $36

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-21
   days on market $89,000 Active 20 DOM
2. 2026-06-21
   days on market $89,000 Active 19 DOM
3. 2026-06-18
   days on market $89,000 Active 17 DOM
4. 2026-06-17
   days on market $89,000 Active 16 DOM
5. 2026-06-16
   days on market $89,000 Active 15 DOM
6. 2026-06-15
   days on market $89,000 Active 14 DOM
7. 2026-06-13
   days on market $89,000 Active 12 DOM
8. 2026-06-12
   days on market $89,000 Active 11 DOM
9. 2026-06-09
   days on market $89,000 Active 8 DOM
10. 2026-06-08
    days on market $89,000 Active 7 DOM
11. 2026-06-07
    days on market $89,000 Active 6 DOM
12. 2026-06-05
    days on market $89,000 Active 4 DOM
13. 2026-06-04
    days on market $89,000 Active 2 DOM
14. 2026-06-01
    listed $89,000 Active 1 DOM

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥91°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,591
• − Mortgage interest: −$4,985
• − Property taxes: −$1,335
• − Insurance: −$445
• − Repairs & maintenance: −$847
• − Management: −$847
• − Depreciation: −$2,589
• Taxable loss: −$458
• Est. tax savings @ 24.0%: +$110
• After-tax cash flow: $1,096/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.

Condition & rehab AI · 13 photos

Fair 45/100 Moderate rehab

The home requires moderate renovations to modernize the kitchen and bathroom, replace the HVAC system, and improve the landscaping. These updates will significantly increase its resale and rental value.

Repairs flagged

• Moderate kitchen cabinets — dated and worn
• Moderate bathroom fixtures — outdated and worn
• Moderate HVAC system — outdated and likely inefficient

Value-add opportunities

• Both modernize kitchen and bathroom — updates will appeal to buyers and renters
• Both replace HVAC system — modern system will improve comfort and energy efficiency
• Both landscaping and curb appeal — improved landscaping will enhance curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and worn	Moderate	$3,000–15,000
bathroom fixtures · outdated and worn	Moderate	$3,000–15,000
HVAC system · outdated and likely inefficient	Moderate	$3,000–15,000
Total estimated repair cost · 3 items		$9,000–45,000

Value-add ROI direction

• Both modernize kitchen and bathroom — updates will appeal to buyers and renters ↑
• Both replace HVAC system — modern system will improve comfort and energy efficiency ↑
• Both landscaping and curb appeal — improved landscaping will enhance curb appeal and property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Langdon Area 23
• NCES district ID: 3810810
• Math proficiency: 38% ▲ 1.00%
• Reading proficiency: 51% ▲ 8.00%
• Median HH income: $57,184
• Composite: 41.13/100
• National rank: #7427
• State rank: #83 of 169 in ND

Livability — Calvin

• Score: 67/100
• State rank: #131
• US rank: #10584

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 74

Population outlook (Cavalier County) Hauer SSP2

• Today (2025): 3,638 people
• By 2030: 3,566 · -2.0%
• By 2040: 3,500 · -3.8%
• By 2050: 3,532 · -2.9%
• By 2075: 3,954 · +8.7%
• By 2100: 4,178 · +14.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (100%)
• Race & ethnicity: White 100%
• Common ancestry: Lithuanian 46% Slovak 24% Portuguese 5%
• Foreign-born: 3% · Canada

Political lean MEDSL · Cavalier

• 2024 margin: Solid R (+49.1) · D 24.8% · R 73.9% · Other 1.3%
• 2008→2024 swing: -39.8pp toward R · 2008: -9.3pp · 2024: -49.1pp
• All cycles: 2024: R+49.1 2020: R+50.7 2016: R+44.7 2012: R+18.2 2008: R+9.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• 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

1 event — show timeline

• 2026-05-20 Listed $89,000 GFAAR