408 N Main St · Crosby, ND 58730

$65,000

2 bd · 1.0 ba · 864 sqft · Other public records · 637 Days on market

Built 2010 7,000 sqft lot ↓ 45% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Livability +3.6/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• 7,000 sq ft lot
• 2 garage spots
• Built 2010

Property features AI

Exterior

• Parking: Detached heated garage with garage door opener (2 garage spaces); Oversized garage with storage; RV access/parking; Driveway and additional on-site parking; Alley access; Gravel surfaces for some parking areas
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected; Phone available; Cable available; Natural gas not available
• Home design: Single-family residence; Residential property; Shingle roof; Level, rectangular lot; City street frontage
• Construction: Vinyl siding; Slab foundation; Built with shingle roof
• Exterior features: Patio; Exterior storage; Exterior lighting

Interior

• Kitchen: Electric range; Microwave; Oven; Refrigerator
• Flooring: Vinyl; Wood; Laminate; Linoleum
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air; Ceiling fan(s); Electric forced-air heating
• Interior features: Ceiling fans; Window treatments; Smoke detector(s)
• Laundry & utility: Washer; Dryer; Other laundry/utility equipment

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $65k.

Deal economics

• At list price, monthly cash flow is $430 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $57k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#63 in ND) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety D, schools D-, amenities F.
• Divide County 1 (rural): math 30% / reading 43% proficiency, ranked #121 of 169 in ND (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 17 active listings in the ZIP.

Forward outlook

• In year one you build about $2k of equity ($449 loan paydown + $2k appreciation (3.0% local appreciation)).
• Divide County population projected at +85% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 637 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.

Recommended offer $57,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 637 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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.
6. 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.
7. 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: 1.72% ✓
• Cap rate: 14.23%
• Cash-on-cash: 28.35%
• DSCR: 2.26
• GRM: 4.8

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: 34.3%
• Equity multiple: 2.94×
• Total profit: $35,232
• Equity at exit: $29,227

10-year hold

• IRR: 34.5%
• Equity multiple: 5.79×
• Total profit: $87,087
• Equity at exit: $45,042

Cash invested: $18,200 (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 58730

• Active inventory: 17
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,120 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$87 /mo · $1,042/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$235
• Net cashflow: $430

Break-even live

Break-even rent $576

Max offer price $65,000

Occupancy floor 57%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-05-15
   status Pending
2. 2026-05-05
   price $65,000
3. 2026-03-03
   price $75,000
4. 2025-04-30
   price $89,900
5. 2024-09-10
   price $99,900
6. 2024-08-16
   listed $119,000 Active
7. 2018-07-02
   soldstatus
8. 2011-12-29
   soldstatus

ⓘ 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: $1,042 · $87/mo
• Projected year-2 tax: $1,042 · $87/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 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥94°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 8 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,438
• − Mortgage interest: −$3,641
• − Property taxes: −$1,042
• − Insurance: −$325
• − Repairs & maintenance: −$1,075
• − Management: −$1,075
• − Depreciation: −$1,891
• Taxable income: $4,389
• Est. tax owed @ 24.0%: −$1,053
• After-tax cash flow: $4,106/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: Divide County 1
• NCES district ID: 3805160
• Math proficiency: 30% ▼ -4.00%
• Reading proficiency: 43% ▼ -4.00%
• Median HH income: $52,720
• Composite: 34.4/100
• National rank: #10182
• State rank: #121 of 169 in ND

Livability — Crosby

• Score: 71/100
• State rank: #63
• US rank: #7199

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Crosby, ND
• Population (ZIP): 1,369

Population outlook (Divide County) Hauer SSP2

• Today (2025): 3,235 people
• By 2030: 3,697 · +14.3%
• By 2040: 4,763 · +47.2%
• By 2050: 5,975 · +84.7%
• By 2075: 9,534 · +194.7%
• By 2100: 12,784 · +295.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 9% Two or more races 7% Black 5%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Portuguese 36% Slovak 6% Scotch-Irish 2%
• Foreign-born: 0%

Political lean MEDSL · Divide

• 2024 margin: Solid R (+55.4) · D 21.2% · R 76.5% · Other 2.3%
• 2008→2024 swing: -40.7pp toward R · 2008: -14.7pp · 2024: -55.4pp
• All cycles: 2024: R+55.4 2020: R+53.2 2016: R+52.0 2012: R+30.3 2008: R+14.7

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

-45.4% since first listed

8 events — show timeline

• 2026-05-15 Pending — GNMLS
• 2026-05-05 Price Changed $65,000 GNMLS
• 2026-03-03 Price Changed $75,000 GNMLS
• 2025-04-30 Price Changed $89,900 GNMLS
• 2024-09-10 Price Changed $99,900 GNMLS
• 2024-08-16 Listed $119,000 GNMLS
• 2018-07-02 Sold (Public Records) — Public Records
• 2011-12-29 Sold (Public Records) — Public Records

Property tax history

+5.5%/yr

Latest (2025): $1,042 · +10.9% YoY. Source: county tax records.