813 6th Ave N Unit B7 · Fargo, ND 58102

$87,500

2 bd · 1.0 ba · 1,069 sqft · Condo public records · 8 Days on market

Built 1963 $206/mo HOA · 16% of rent

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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 +22.8/30.0
• 1% rule +9.3/10.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• Livability +4.2/5.0
• Rent growth +3.7/5.0
• Schools +3.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• Garden-level condo
• Updated cabinetry
• $206 HOA

Tags

• GARDEN-LEVEL CONDO
• UPDATED CABINETRY

Property features AI

Finance

• HOA & community: HOA managed by Property Resource Group; Monthly association fee of $206; HOA covers hazard insurance, heating, lawn care, professional management, sewer, snow removal, and water; Laundry amenity provided by the association

Exterior

• Parking: Parking lot
• Utilities: City water; City sewer; Natural gas
• Home design: Residential attached property; More than 2 stories; Below-grade finished area present
• Construction: Brick construction; Block foundation; Block basement
• Exterior features: Stone exterior accents

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Hot water heating; Ductless mini-split cooling
• Interior features: Ceiling fan(s); Eat-in kitchen
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $88k.

Deal economics

• At list price, monthly cash flow is $152 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $88k).
• Cap rate 8.4% vs local median 2.5% in 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 85/100 on livability (#1 in ND, #605 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F.
• Fargo 1 (urban): math 41% / reading 44% proficiency, ranked #28 of 53 in ND (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.7%/yr); 205 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 1,218 units permitted in Cass County in 2024 (410 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $605 of loan paydown is wiped out by about $3k 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 + 4.7% rent growth), your $24k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $40k; list at $88k implies a 119% gain — meaningful room to come down on a strong offer.

Recommended offer $87,500

Questions for the listing agent

1. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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.
7. 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.
8. 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: 1.43% ✓
• Cap rate: 8.37%
• Cash-on-cash: 7.43%
• DSCR: 1.33
• GRM: 5.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.71% rent growth · sell at horizon

5-year hold

• IRR: -2.3%
• Equity multiple: 0.91×
• Total profit: $-2,161
• Equity at exit: $13,047

10-year hold

• IRR: 9.8%
• Equity multiple: 1.84×
• Total profit: $20,527
• Equity at exit: $7,565

Cash invested: $24,500 (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 58102

• Rents YoY: 4.7%
• Active inventory: 205
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,252 high
• Mortgage (P&I): −$459
• Tax from tax record: −$136 /mo · $1,628/yr
• Insurance: −$36
• HOA: −$206
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $152

Break-even live

Break-even rent $1,059

Max offer price $87,500

Occupancy floor 83%

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: $21,875
• Closing costs: $2,625
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
408 Roberts St N Fargo, ND	2.0	2.0	1000	$1,445	$1.45	21d	1	0.23mi
303 11th St N Fargo, ND	2.0	1.0–2.0	813	$1,600	$1.97	13d	14	0.25mi
408 Broadway N Unit 6 Fargo, ND	2.0	1.0	850	$895	$1.05	21d	1	0.26mi
312 11th St N Fargo, ND	2.0	1.0–2.0	874	$1,575	$1.80	13d	17	0.28mi
823 10th Ave N Fargo, ND	2.0	1.0	562	$1,100	$1.96	13d	1	0.28mi
405 Broadway N Fargo, ND	3.0	1.0–2.0	973	$1,850	$1.90	13d	24	0.28mi
909 12th St N Unit 2 Fargo, ND	2.0	1.0	762	$1,000	$1.31	21d	1	0.31mi
1321 5th Ave N Fargo, ND	2.0	1.0	880	$998	$1.13	13d	3	0.32mi
1005 12th St N Fargo, ND	2.0	2.0	1224	$1,645	$1.34	21d	1	0.35mi
624 2nd Ave N Fargo, ND	3.0	1.0–2.0	914	$1,708	$1.87	13d	32	0.40mi
727 1/2 3rd St N Fargo, ND	2.0	1.0	800	$1,050	$1.31	21d	1	0.44mi
21 8th St N Fargo, ND	4.0	1.0–3.0	949	$1,202	$1.27	13d	6	0.44mi
630 1st Ave N Fargo, ND	1.0–4.0	1.0–2.0	1098	$1,200	$1.09	13d	6	0.45mi
419 3rd St N Fargo, ND	1.0–3.0	1.0–2.0	1023	$1,875	$1.83	13d	21	0.47mi
899 Barrett St Unit 203 Fargo, ND	1.0	1.0	834	$975	$1.17	13d	1	0.50mi
899 Barrett St Apt 104 Fargo, ND	2.0	2.0	1311	$1,425	$1.09	13d	1	0.50mi
23 N Broadway Dr Unit 306 Fargo, ND	3.0	1.0	1100	$1,560	$1.42	21d	1	0.54mi
23 N Broadway Dr Unit 406 Fargo, ND	3.0	2.0	1225	$1,700	$1.39	13d	1	0.54mi
23 Broadway N Fargo, ND	1.0–3.0	1.0–2.0	912	$1,318	$1.44	21d	5	0.55mi
1210 11th St N Fargo, ND	2.0	2.0	1150	$1,500	$1.30	21d	1	0.58mi
1209 Broadway N Unit 3 Fargo, ND	2.0	1.0	1000	$895	$0.90	13d	1	0.59mi
620 Main Ave Fargo, ND	1.0–2.0	1.0	697	$955	$1.37	13d	5	0.62mi
1226 10th St N Unit 2 Fargo, ND	2.0	1.0	900	$850	$0.94	13d	1	0.63mi
902 15th St N Unit 4/5 Fargo, ND	3.0	2.0	1200	$995	$0.83	21d	1	0.65mi
102 9th St S Apt 10 Fargo, ND	2.0	1.0	950	$975	$1.03	13d	1	0.66mi
801-807 2nd Ave S Unit 17 Fargo, ND	1.0	1.0	1000	$795	$0.80	13d	1	0.71mi
1510 11th Ave N Unit 2 Fargo, ND	2.0	1.0	900	$775	$0.86	13d	1	0.73mi
904 16th St N Unit 12 Fargo, ND	2.0	1.0	700	$760	$1.09	13d	1	0.73mi
705 13th Ave N Fargo, ND	2.0	2.0	1083	$1,800	$1.66	13d	1	0.73mi
1515 11th Ave N Fargo, ND	4.0	1.0–4.0	862	$1,752	$2.03	13d	18	0.74mi
1010 16th St N Unit 1010-15 Fargo, ND	2.0	1.0	711	$775	$1.09	21d	1	0.74mi
315 7th St S Fargo, ND	2.0	1.0	950	$875	$0.92	13d	2	0.84mi
1125 17th St N Unit 1125-2 Fargo, ND	2.0	1.0	1345	$850	$0.63	21d	1	0.86mi
1142 17th St N Fargo, ND	2.0	2.0	1009	$1,320	$1.31	21d	1	0.90mi
1900 Dakota Dr N Fargo, ND	3.0–4.0	2.0–3.0	1324	$1,425	$1.08	13d	7	0.97mi
1920 Dakota Dr N Fargo, ND	2.0–3.0	1.0–2.0	842	$1,025	$1.22	13d	6	1.03mi
1951 Dakota Dr N Fargo, ND	2.0–3.0	2.0	1051	$1,185	$1.13	13d	5	1.07mi
344 6th Ave S Unit 2 Fargo, ND	2.0	1.0	877	$875	$1.00	21d	1	1.09mi
1601 N University Dr Fargo, ND	2.0–4.0	2.0–4.0	1075	$745	$0.69	21d	1	1.23mi
337 10th Ave S Fargo, ND	3.0	1.0	979	$992	$1.01	21d	1	1.29mi

HOA detail condo

• Monthly dues: $206 · $2,472/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-06-18
   days on market $87,500 Active 8 DOM
2. 2026-06-17
   days on market $87,500 Active 7 DOM
3. 2026-06-16
   days on market $87,500 Active 6 DOM
4. 2026-06-15
   days on market $87,500 Active 5 DOM
5. 2026-06-14
   days on market $87,500 Active 3 DOM
6. 2026-06-13
   listed $87,500 Active 2 DOM

ⓘ 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: $1,628 · $136/mo
• Projected year-2 tax: $1,628 · $136/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 (shaded) · 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: $15,019
• − Mortgage interest: −$4,901
• − Property taxes: −$1,628
• − Insurance: −$438
• − Repairs & maintenance: −$1,202
• − Management: −$1,202
• − HOA: −$2,472
• − Depreciation: −$2,545
• Taxable income: $632
• Est. tax owed @ 24.0%: −$152
• After-tax cash flow: $1,670/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: Fargo 1
• NCES district ID: 3806780
• Math proficiency: 41% ▼ -7.00%
• Reading proficiency: 44% ▼ -7.00%
• Median HH income: $46,524
• Composite: 36.23/100
• National rank: #4721
• State rank: #28 of 53 in ND

Livability — Fargo

• Score: 85/100
• State rank: #1
• US rank: #605

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fargo, ND
• County: Cass County · 177,143 people
• City population: 130,876
• Metro: Fargo, ND-MN
• Population (ZIP): 32,912
• Household income: $59,533
• Rent vs Own: 53.8% rent · 46.2% own
• Severe rent burden: 1919.0

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 (84%)
• Race & ethnicity: White 84% Hispanic / Latino 5% Two or more races 5% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Portuguese 27% Romanian 3% Scottish 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 92% English-only · Spanish 3% Other Indo-European 2%

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: ▼ -171.16%
• Current HPI: 155.885
• Rent YoY: ▲ 4.71%
• 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

+56.5% since first listed

3 events — show timeline

• 2026-06-10 Listed $87,500 NORTHSTARMLS as Distributed by MLS Grid
• 2015-07-01 Sold (Public Records) $39,900 Public Records
• 2008-10-27 Sold (Public Records) $55,900 Public Records

Property tax history

+8.6%/yr

Latest (2025): $1,628 · +5.1% YoY. Source: county tax records.