3102 Dakota Park Cir S · Fargo, ND 58104

$240,000

4 bd · 2.0 ba · 1,672 sqft · MultiFamily public records · 20 Days on market

Built 1995 Poor condition 4,181 sqft lot

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Why this score? — see what drove the D 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 +13.6/30.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• DSCR +4.1/10.0
• Rent growth +3.8/5.0
• 1% rule +3.6/10.0
• Schools +3.6/10.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

This home needs some love. The great thing is that it has 4 bedrooms so lots of possibilities. Low specials. Will look at offers on Monday Oct 22.

Key facts

• Renovated twin home
• Fully tiled floors
• 4,181 sq ft lot

Tags

• RENOVATED TWIN HOME
• FULLY TILED FLOORS
• FULLY FENCED BACKYARD

Property features AI

Exterior

• Parking: Attached garage (2 spaces)
• Utilities: City water connected; City sewer connected; Natural gas
• Home design: Residential property; Attached property; Split entry (bi-level) design; Accessible features: Other
• Construction: Poured concrete foundation; Foundation area: 836; Built with vinyl siding
• Exterior features: Vinyl exterior; Wood fencing

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator; Disposal
• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Dishwasher; Disposal; Microwave; Range; Refrigerator
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $240k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $15 ($179/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 $207k (13.6% below list).
• Recommended offer: $207k (13.6% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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.
• Zoned schools: Ed Clapp Elementary School (math 17% / reading 22%, grade F, #222 of 236 statewide, top 94%, 452 students, 78% FRL); Discovery Middle School (math 49% / reading 55%, grade C+, #3 of 35 statewide, top 12%, 975 students, 26% FRL); Fargo Davies High School (math 34% / reading 45%, grade F, #57 of 144 statewide, top 48%, 1,363 students, 19% FRL) — zoned schools average 41% FRL vs 25% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.1%/yr); 369 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($236k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y ago; this cycle's ask has dropped $15k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $165k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $207,300 (13.6% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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 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: 0.86% ✗
• Cap rate: 6.37%
• Cash-on-cash: 0.27%
• DSCR: 1.01
• GRM: 9.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.13% rent growth · sell at horizon

5-year hold

• IRR: -13.6%
• Equity multiple: 0.50×
• Total profit: $-33,397
• Equity at exit: $35,785

10-year hold

• IRR: -1.7%
• Equity multiple: 0.88×
• Total profit: $-8,376
• Equity at exit: $20,751

Cash invested: $67,200 (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 58104

• Home prices YoY: -29.6%
• Rents YoY: 5.1%
• Active inventory: 369
• Price-to-rent: 19.3×

Monthly cashflow live

• Estimated rent: $2,073 high
• Mortgage (P&I): −$1,259
• Tax from tax record: −$264 /mo · $3,170/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$435
• Net cashflow: $15

Break-even live

Break-even rent $2,054

Max offer price $240,000

Occupancy floor 94%

Sensitivity live

Price	-10% $151	-5% $83	+0% $15	+5% $-53	+10% $-121
Rent	-10% $-149	-5% $-67	+0% $15	+5% $97	+10% $179
Rate	-1.0pp $136	-0.5pp $76	base $15	+0.5pp $-47	+1.0pp $-111

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,072
Total (2 units)			$2,073

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3301 32nd St S Fargo, ND	3.0	1.0–2.0	808	$1,483	$1.83	15d	9	0.17mi
3510 28th St S Fargo, ND	3.0	1.0–2.0	786	$1,335	$1.70	15d	10	0.26mi
3140 33rd St S Fargo, ND	2.0–3.0	1.0	945	$970	$1.03	15d	5	0.47mi
3302 31st Ave S Fargo, ND	1.0–3.0	1.0–2.0	926	$1,150	$1.24	15d	13	0.51mi
2510 36th Ave S Fargo, ND	3.0	1.0–2.0	945	$1,300	$1.38	15d	18	0.52mi
3100 33rd St S Unit 3120-301 Fargo, ND	3.0	1.0	1050	$985	$0.94	15d	1	0.55mi
3031 33rd St S Fargo, ND	2.0–3.0	1.0–1.5	1078	$1,340	$1.24	15d	3	0.59mi
3200 22nd St S Fargo, ND	1.0–3.0	1.0–2.0	922	$1,100	$1.19	15d	11	0.73mi
3504 28th Ave S Fargo, ND	1.0–3.0	1.0–2.0	1100	$1,200	$1.09	23d	4	0.90mi
3330 42nd St SW Fargo, ND	1.0–3.0	1.0–2.0	1051	$1,095	$1.04	23d	1	1.06mi
3720 42nd St S Fargo, ND	2.0–4.0	1.0–2.0	1105	$1,210	$1.10	23d	1	1.10mi
1625 33rd Ave S Fargo, ND	3.0	1.0–2.0	755	$1,180	$1.56	15d	9	1.15mi
3039 23rd Ave S Fargo, ND	2.0–3.0	1.5–3.0	1524	$1,945	$1.28	15d	7	1.20mi
4251 33rd Ave S Fargo, ND	1.0–3.0	1.0–2.0	975	$1,115	$1.14	23d	2	1.23mi
4281 33rd Ave S Fargo, ND	1.0–3.0	1.0–2.0	975	$1,165	$1.19	15d	2	1.31mi
4835 38th St S Fargo, ND	3.0	1.0–2.0	956	$1,765	$1.85	15d	36	1.49mi

Listing history 13 events

1. 2026-06-21
   days on market $240,000 Active 20 DOM
2. 2026-06-18
   days on market $240,000 Active 17 DOM
3. 2026-06-17
   days on market $240,000 Active 16 DOM
4. 2026-06-16
   price $240,000 Active 15 DOM
5. 2026-06-16
   days on market $250,000 Active 15 DOM
6. 2026-06-15
   days on market $250,000 Active 14 DOM
7. 2026-06-14
   days on market $250,000 Active 12 DOM
8. 2026-06-13
   days on market $250,000 Active 11 DOM
9. 2026-06-10
   days on market $250,000 Active 9 DOM
10. 2026-06-09
    days on market $250,000 Active 8 DOM
11. 2026-06-08
    days on market $250,000 Active 7 DOM
12. 2026-06-07
    pricedays on market $250,000 Active 6 DOM
13. 2026-06-02
    listed $255,000 Active 1 DOM

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

Tax reassessment forecast ND · Resets to sale price

• Current annual tax: $3,170 · $264/mo
• Projected year-2 tax: $3,170 · $264/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: $24,876
• − Mortgage interest: −$13,444
• − Property taxes: −$3,170
• − Insurance: −$1,200
• − Repairs & maintenance: −$1,990
• − Management: −$1,990
• − Depreciation: −$6,982
• Taxable loss: −$3,900
• Est. tax savings @ 24.0%: +$936
• After-tax cash flow: $1,115/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 · 1 photo

Poor 20/100 Extensive rehab

This multi-family property requires extensive repairs and updates to its exterior, HVAC, and landscaping to improve its condition and value.

Repairs flagged

• Major siding — Significant wear and tear
• Major roof — No visible damage, but age is unknown
• Major HVAC/mechanicals — No visible systems, but age is unknown
• Major landscaping — Overgrown lawn, unkempt appearance

Value-add opportunities

• Both landscaping and curb appeal — Improves first impression and property value
• Both HVAC and mechanicals — Ensures comfort and energy efficiency
• Both siding and roof — Enhances property value and reduces maintenance costs

Renovation cost estimate screening

Repair item	Severity	Est. cost
siding · Significant wear and tear	Major	$15,000–50,000
roof · No visible damage, but age is unknown	Major	$15,000–50,000
HVAC/mechanicals · No visible systems, but age is unknown	Major	$15,000–50,000
landscaping · Overgrown lawn, unkempt appearance	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both landscaping and curb appeal — Improves first impression and property value ↑
• Both HVAC and mechanicals — Ensures comfort and energy efficiency ↑
• Both siding and roof — Enhances property value and reduces maintenance costs ↑

ⓘ 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: 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): 49,168
• Household income: $85,747
• Rent vs Own: 54.6% rent · 45.4% own
• Severe rent burden: 2039.0

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 (83%)
• Race & ethnicity: White 83% Black 7% Two or more races 5% Asian 4% Hispanic / Latino 2%
• Common ancestry: Portuguese 27% Lithuanian 4% Romanian 2%
• Foreign-born: 9% · Canada, China
• Languages at home: 92% English-only · Korean 1% Spanish 1% Russian/Polish/Slavic 1%

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: ▼ -78.58%
• Current HPI: 187.1707
• Rent YoY: ▲ 5.13%
• 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

+54.6% since first listed

6 events — show timeline

• 2026-06-01 Listed $255,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-11-29 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2021-09-27 Listed $210,000 NORTHSTARMLS as Distributed by MLS Grid
• 2018-12-05 Sold (Public Records) $164,900 Public Records
• 2018-12-03 Sold (MLS) $164,900 NORTHSTARMLS as Distributed by MLS Grid
• 2018-10-17 Listed $164,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+54.0%/yr

Latest (2025): $3,170 · +0.1% YoY. Source: county tax records.