1402 Main St S · Dickinson, ND 58601

$115,000

3 bd · 1.0 ba · 1,191 sqft · Other public records · 15 Days on market

Built 1960 0.69 ac lot

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Why this score? — see what drove the B- 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 +29.5/30.0
• DSCR +10.0/10.0
• 1% rule +7.6/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Schools +3.5/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located in Dickinson, this home sits on an oversized lot of over 1/2 an acre, providing plenty of outdoor space. Inside, the main floor layout is highly functional: enjoy a large living room with a unique built-in bookshelf/display case, a cabinet-filled kitchen with a small pantry, three comfortable bedrooms, and a full bathroom. Practicality is boosted by a large hallway closet and an oversized laundry room located conveniently near the back door access to a large deck. The full, unfinished basement offers significant storage and future living space potential, with three separate rooms already partitioned. A separate garage in the back completes the package. Attention renovators! This home is priced to reflect the need for TLC and updates. This is your chance to add value and create equity.

Key facts

• Large deck
• Separate garage
• Unfinished basement

Tags

• OVERSIZED LOT
• BUILT-IN BOOKSHELF
• CABINET-FILLED KITCHEN
• LARGE DECK
• UNFINISHED BASEMENT
• SEPARATE GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $115k.

Deal economics

• At list price, monthly cash flow is $412 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $113k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.6% vs local median 2.9% in Dickinson — 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 76/100 on livability (#12 in ND, #3,334 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Dickinson 1 (town): math 35% / reading 43% proficiency, ranked #29 of 53 in ND (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.9%/yr); 235 active listings in the ZIP; solid renter incomes; 20 units permitted in Stark County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Stark County population projected at +120% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 1.9% rent growth), your $32k 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 ($113k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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.

Recommended offer $113,275 (1.5% below list)

Questions for the listing agent

1. Built in 1960 — 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 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: 1.26% ✓
• Cap rate: 10.59%
• Cash-on-cash: 15.34%
• DSCR: 1.68
• GRM: 6.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.95% rent growth · sell at horizon

5-year hold

• IRR: 4.9%
• Equity multiple: 1.19×
• Total profit: $6,046
• Equity at exit: $17,147

10-year hold

• IRR: 13.4%
• Equity multiple: 2.02×
• Total profit: $32,863
• Equity at exit: $9,943

Cash invested: $32,200 (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 58601

• Rents YoY: 1.9%
• Active inventory: 235
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,450 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$83 /mo · $992/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $412

Break-even live

Break-even rent $929

Max offer price $115,000

Occupancy floor 67%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-04-12
   status Pending
2. 2026-01-01
   status Pending 803-char remark

   Show marketing remark (803 chars)

   Located in Dickinson, this home sits on an oversized lot of over 1/2 an acre, providing plenty of outdoor space. Inside, the main floor layout is highly functional: enjoy a large living room with a unique built-in bookshelf/display case, a cabinet-filled kitchen with a small pantry, three comfortable bedrooms, and a full bathroom. Practicality is boosted by a large hallway closet and an oversized laundry room located conveniently near the back door access to a large deck. The full, unfinished basement offers significant storage and future living space potential, with three separate rooms already partitioned. A separate garage in the back completes the package. Attention renovators! This home is priced to reflect the need for TLC and updates. This is your chance to add value and create equity.

3. 2025-12-17
   listed $115,000 Active

   Show marketing remark (803 chars)

   Located in Dickinson, this home sits on an oversized lot of over 1/2 an acre, providing plenty of outdoor space. Inside, the main floor layout is highly functional: enjoy a large living room with a unique built-in bookshelf/display case, a cabinet-filled kitchen with a small pantry, three comfortable bedrooms, and a full bathroom. Practicality is boosted by a large hallway closet and an oversized laundry room located conveniently near the back door access to a large deck. The full, unfinished basement offers significant storage and future living space potential, with three separate rooms already partitioned. A separate garage in the back completes the package. Attention renovators! This home is priced to reflect the need for TLC and updates. This is your chance to add value and create equity.

4. 2025-12-17
   listed $115,000 Active 803-char remark

   Show marketing remark (803 chars)

   Located in Dickinson, this home sits on an oversized lot of over 1/2 an acre, providing plenty of outdoor space. Inside, the main floor layout is highly functional: enjoy a large living room with a unique built-in bookshelf/display case, a cabinet-filled kitchen with a small pantry, three comfortable bedrooms, and a full bathroom. Practicality is boosted by a large hallway closet and an oversized laundry room located conveniently near the back door access to a large deck. The full, unfinished basement offers significant storage and future living space potential, with three separate rooms already partitioned. A separate garage in the back completes the package. Attention renovators! This home is priced to reflect the need for TLC and updates. This is your chance to add value and create equity.

5. 2024-03-12
   historical Active Under Contract
6. 2024-02-23
   listed $100,000 Active

ⓘ 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: $992 · $83/mo
• Projected year-2 tax: $1,127 · $94/mo
• Expected delta: +$135/yr (+$11/mo · 13.6%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥94°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,396
• − Mortgage interest: −$6,442
• − Property taxes: −$992
• − Insurance: −$575
• − Repairs & maintenance: −$1,392
• − Management: −$1,392
• − Depreciation: −$3,345
• Taxable income: $3,258
• Est. tax owed @ 24.0%: −$782
• After-tax cash flow: $4,157/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: Dickinson 1
• NCES district ID: 3800038
• Math proficiency: 35% ▼ -12.00%
• Reading proficiency: 43% ▼ -7.00%
• Median HH income: $63,270
• Composite: 34.9/100
• National rank: #5080
• State rank: #29 of 53 in ND

Livability — Dickinson

• Score: 76/100
• State rank: #12
• US rank: #3334

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Stark County · 29,916 people
• City population: 29,916
• Metro: Dickinson, ND
• Population (ZIP): 29,916
• Household income: $85,821
• Rent vs Own: 35.4% rent · 64.6% own
• Severe rent burden: 813.0

Population outlook (Stark County) Hauer SSP2

• Today (2025): 50,426 people
• By 2030: 60,812 · +20.6%
• By 2040: 84,155 · +66.9%
• By 2050: 110,718 · +119.6%
• By 2075: 186,710 · +270.3%
• By 2100: 264,902 · +425.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 7% Two or more races 5% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 9% Scotch-Irish 2% Lithuanian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 92% English-only · Spanish 4% German/W. Germanic 1% Arabic 1%

Political lean MEDSL · Stark

• 2024 margin: Solid R (+65.6) · D 16.5% · R 82.1% · Other 1.5%
• 2008→2024 swing: -36.5pp toward R · 2008: -29.1pp · 2024: -65.6pp
• All cycles: 2024: R+65.6 2020: R+63.9 2016: R+65.8 2012: R+49.4 2008: R+29.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -133.57%
• Current HPI: 188.1029
• Rent YoY: ▲ 1.95%
• Metro: Dickinson, ND
• 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

+15.0% since first listed

6 events — show timeline

• 2026-04-12 Pending — Badlands BOR MLS
• 2026-01-01 Pending — GNMLS
• 2025-12-17 Listed $115,000 GNMLS
• 2025-12-17 Listed $115,000 Badlands BOR MLS
• 2024-03-12 Contingent — Badlands BOR MLS
• 2024-02-23 Listed $100,000 Badlands BOR MLS

Property tax history

+1.9%/yr

Latest (2025): $992 · -4.3% YoY. Source: county tax records.