102 1st Ave NE · Kenmare, ND 58746

$115,000

2 bd · 1.0 ba · 1,392 sqft · SingleFamily public records · 9 Days on market

Built 1957 0.32 ac lot Est $189k · 39% under

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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 +18.1/30.0
• ARV discount +15.0/15.0
• Appreciation +6.6/10.0
• DSCR +5.7/10.0
• 1% rule +4.5/10.0
• Schools +3.9/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• South facing views
• Mid-century home
• Detached garage

Tags

• MID-CENTURY HOME
• SOUTH FACING VIEWS
• DETACHED GARAGE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $101 ($1k/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 $109k (5.4% below list).
• Recommended offer: $109k (5.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 67/100 on livability (#120 in ND) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, health & safety D, amenities F.
• Kenmare 28 (rural): math 40% / reading 45% proficiency, ranked #89 of 169 in ND (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: 10 active listings in the ZIP; 123 units permitted in Ward County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($795 loan paydown + $4k appreciation (3.1% local appreciation)).
• Ward County population projected at +76% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.1% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $108,779 (5.4% below list)

Questions for the listing agent

1. Built in 1957 — 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. 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.
4. 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.
5. 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: 0.95% ✗
• Cap rate: 7.34%
• Cash-on-cash: 3.75%
• DSCR: 1.17
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $189,312
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
420 1st Ave NE	0.22mi	3/2.0 (+1)	1,512 (+9%)	1mo	$205,000	$136	65

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

3.1% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.3%
• Equity multiple: 1.65×
• Total profit: $20,871
• Equity at exit: $52,363

10-year hold

• IRR: 13.4%
• Equity multiple: 3.01×
• Total profit: $64,567
• Equity at exit: $81,210

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 58746

• Home prices YoY: 2.8%
• Active inventory: 10
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,088 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$108 /mo · $1,293/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $101

Break-even live

Break-even rent $960

Max offer price $115,000

Occupancy floor 86%

Sensitivity live

Price	-10% $166	-5% $133	+0% $101	+5% $68	+10% $36
Rent	-10% $15	-5% $58	+0% $101	+5% $144	+10% $187
Rate	-1.0pp $159	-0.5pp $130	base $101	+0.5pp $71	+1.0pp $40

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 16 events

1. 2026-06-21
   days on market $115,000 Active 9 DOM
2. 2026-06-21
   days on market $115,000 Active 8 DOM
3. 2026-06-18
   days on market $115,000 Active 6 DOM
4. 2026-06-17
   days on market $115,000 Active 5 DOM
5. 2026-06-16
   days on market $115,000 Active 4 DOM
6. 2026-06-15
   days on market $115,000 Active 3 DOM
7. 2026-06-12
   pricedays on marketlisting id $115,000 Active 1 DOM
8. 2026-06-09
   days on market $125,000 Active 24 DOM
9. 2026-06-08
   days on market $125,000 Active 23 DOM
10. 2026-06-07
    days on market $125,000 Active 22 DOM
11. 2026-06-05
    days on market $125,000 Active 20 DOM
12. 2026-06-04
    days on market $125,000 Active 18 DOM
13. 2026-06-02
    days on market $125,000 Active 17 DOM
14. 2026-06-01
    days on market $125,000 Active 16 DOM
15. 2026-05-31
    days on market $125,000 Active 15 DOM
16. 2026-05-17
    listed $125,000 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: $1,293 · $108/mo
• Projected year-2 tax: $1,293 · $108/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 · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 1/10 Low 7 d/yr ≥93°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,053
• − Mortgage interest: −$6,442
• − Property taxes: −$1,293
• − Insurance: −$575
• − Repairs & maintenance: −$1,044
• − Management: −$1,044
• − Depreciation: −$3,345
• Taxable loss: −$690
• Est. tax savings @ 24.0%: +$166
• After-tax cash flow: $1,373/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: Kenmare 28
• NCES district ID: 3810180
• Math proficiency: 40% ▬ 0.00%
• Reading proficiency: 45% ▬ 0.00%
• Median HH income: $54,420
• Composite: 39.3/100
• National rank: #8176
• State rank: #89 of 169 in ND

Livability — Kenmare

• Score: 67/100
• State rank: #120
• US rank: #10142

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kenmare, ND
• Population (ZIP): 1,583

Population outlook (Ward County) Hauer SSP2

• Today (2025): 92,683 people
• By 2030: 104,825 · +13.1%
• By 2040: 131,945 · +42.4%
• By 2050: 163,134 · +76.0%
• By 2075: 256,561 · +176.8%
• By 2100: 354,426 · +282.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Portuguese 37% Scottish 3% Iranian 1%
• Foreign-born: 1% · Canada

Political lean MEDSL · Ward

• 2024 margin: Solid R (+47.4) · D 25.5% · R 72.8% · Other 1.7%
• 2008→2024 swing: -28.2pp toward R · 2008: -19.2pp · 2024: -47.4pp
• All cycles: 2024: R+47.4 2020: R+44.9 2016: R+47.7 2012: R+30.8 2008: R+19.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.10%
• Current HPI: 113.7062
• 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

• 2026-05-17 Listed $125,000 FSBO.com

Property tax history

+4.6%/yr

Latest (2025): $1,293 · +84.1% YoY. Source: county tax records.