3236 35th Ave S · Fargo, ND 58104

$299,900

3 bd · 2.0 ba · 1,173 sqft · MultiFamily public records · 25 Days on market

Built 1995 5,924 sqft lot $90/mo HOA · 7% of rent

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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 +14.1/30.0
• ARV discount +7.5/15.0
• DSCR +4.3/10.0
• Livability +4.2/5.0
• Rent growth +3.8/5.0
• Schools +3.6/10.0
• 1% rule +3.5/10.0
• Condition / age +2.5/5.0
• 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

Immaculate twin home with association fees for lawn and snow. 3 bedrooms, 2 baths, and a 2 car attached garage. Hardwood floors on upper level, double sinks, newer carpet throughout, gas fireplace in lower level family room, plenty of storage and it overlooks a park area. This is one nice home with a great location.

Key facts

• Open views
• Gas fireplace
• Extra privacy

Tags

• GAS FIREPLACE
• WALK-IN SHOWER
• NO BACKYARD NEIGHBORS
• EXTRA PRIVACY
• OPEN VIEWS

Property features AI

Finance

• HOA & community: HOA: Stonebridge-Tom Smithson; HOA fee $90 per month (includes lawn care and snow removal)

Exterior

• Parking: Attached 2-car garage
• Utilities: City water connected; City sewer connected; Natural gas service; 200+ amp electrical service
• Home design: Residential attached property; Split-entry (bi-level) design; Entry/main level and lower level living areas
• Construction: Poured concrete foundation
• Exterior features: Full yard fencing

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator; Stainless steel appliances
• Bedrooms: 3 bedrooms (one on upper level; two on lower level)
• Bathrooms: 2 full bathrooms (one on upper level; one on lower level)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Basement with sump pump; Gas fireplace in family room (1 total); Stainless steel appliances
• Laundry & utility: In-unit laundry (washer and dryer included)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $44 ($527/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 $255k (14.9% below list).
• Recommended offer: $255k (14.9% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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 (+5.1%/yr); 358 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 14d 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).
• This rent runs 36% of the median local income ($86k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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 25 days — a 2% lower offer ($295k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 12y 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.
• Current owner paid $225k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $255,300 (14.9% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 0.85% ✗
• Cap rate: 6.47%
• Cash-on-cash: 0.63%
• DSCR: 1.03
• GRM: 9.8

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: -13.1%
• Equity multiple: 0.52×
• Total profit: $-40,234
• Equity at exit: $44,716

10-year hold

• IRR: -1.2%
• Equity multiple: 0.91×
• Total profit: $-7,576
• Equity at exit: $25,930

Cash invested: $83,972 (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: 358
• Price-to-rent: 19.6×

Monthly cashflow live

• Estimated rent: $2,553 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$185 /mo · $2,223/yr
• Insurance: −$125
• HOA: −$90
• Vacancy / Maint / Mgmt: −$536
• Net cashflow: $44

Break-even live

Break-even rent $2,497

Max offer price $299,900

Occupancy floor 93%

Sensitivity live

Price	-10% $214	-5% $129	+0% $44	+5% $-41	+10% $-126
Rent	-10% $-158	-5% $-57	+0% $44	+5% $145	+10% $246
Rate	-1.0pp $195	-0.5pp $120	base $44	+0.5pp $-34	+1.0pp $-113

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$2,552
Total (2 units)			$2,553

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 34 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	14d	9	0.29mi
3510 28th St S Fargo, ND	3.0	1.0–2.0	786	$1,335	$1.70	14d	10	0.37mi
2601 36th Ave S Fargo, ND	2.0	1.0–2.0	941	$850	$0.90	14d	8	0.50mi
3015 40th Ave S Unit G Fargo, ND	2.0	2.5	1363	$1,480	$1.09	21d	1	0.53mi
3161 32nd St S Fargo, ND	2.0–3.0	1.0	969	$1,000	$1.03	14d	7	0.56mi
3140 33rd St S Fargo, ND	2.0–3.0	1.0	945	$970	$1.03	14d	5	0.59mi
2510 36th Ave S Fargo, ND	3.0	1.0–2.0	945	$1,300	$1.38	14d	18	0.59mi
3302 31st Ave S Fargo, ND	1.0–3.0	1.0–2.0	926	$1,150	$1.24	14d	13	0.60mi
2701 32nd Ave S Fargo, ND	2.0	1.0	1015	$895	$0.88	14d	3	0.60mi
3343 31st Ave S Fargo, ND	1.0–3.0	1.0	839	$905	$1.08	21d	1	0.66mi
3100 33rd St S Unit 3120-301 Fargo, ND	3.0	1.0	1050	$985	$0.94	14d	1	0.66mi
3031 33rd St S Fargo, ND	2.0–3.0	1.0–1.5	1078	$1,340	$1.24	14d	3	0.69mi
2201 33rd Ave S Fargo, ND	1.0–2.0	1.0	812	$860	$1.06	14d	9	0.78mi
4045 34th Ave S Fargo, ND	1.0–2.0	1.0–2.0	886	$1,265	$1.43	14d	15	0.81mi
2411 30 1/2 Ave S Fargo, ND	1.0–2.0	1.0	730	$795	$1.09	14d	3	0.88mi
3720 42nd St S Fargo, ND	2.0–4.0	1.0–2.0	1105	$1,118	$1.01	21d	1	0.91mi
3200 22nd St S Fargo, ND	1.0–3.0	1.0–2.0	922	$1,100	$1.19	14d	11	0.91mi
3330 42nd St SW Fargo, ND	1.0–3.0	1.0–2.0	1051	$1,095	$1.04	21d	1	0.95mi
3504 28th Ave S Fargo, ND	1.0–3.0	1.0–2.0	1100	$1,200	$1.09	21d	4	0.97mi
4201 33rd Ave S Fargo, ND	2.0	1.0	900	$900	$1.00	14d	2	1.00mi
4221 33rd Ave S Fargo, ND	2.0	1.0	900	$900	$1.00	21d	1	1.05mi
4231 33rd Ave S Fargo, ND	2.0	1.0	900	$900	$1.00	21d	1	1.07mi
4251 33rd Ave S Fargo, ND	1.0–3.0	1.0–2.0	975	$1,115	$1.14	21d	2	1.12mi
2836 41st St S Fargo, ND	2.0	1.0–2.0	965	$1,480	$1.53	14d	13	1.14mi
4261 33rd Ave S Fargo, ND	2.0	1.0	1000	$950	$0.95	21d	1	1.15mi
4281 33rd Ave S Fargo, ND	1.0–3.0	1.0–2.0	975	$1,165	$1.19	14d	2	1.20mi
1650 33rd Ave S Apt 202 Fargo, ND	2.0	1.0	970	$835	$0.86	21d	1	1.24mi
4835 38th St S Fargo, ND	3.0	1.0–2.0	956	$1,765	$1.85	14d	36	1.30mi
1625 33rd Ave S Fargo, ND	3.0	1.0–2.0	755	$1,180	$1.56	14d	9	1.31mi
3039 23rd Ave S Fargo, ND	2.0–3.0	1.5–3.0	1524	$1,945	$1.28	14d	7	1.35mi
4425 31st Ave S Fargo, ND	1.0–2.0	1.0–2.0	1111	$1,285	$1.16	14d	2	1.41mi
4422 30th Ave S Fargo, ND	1.0–2.0	1.0–2.0	834	$1,139	$1.36	14d	3	1.43mi
2626 Pacific Dr S Fargo, ND	2.0	1.0	801	$740	$0.92	21d	1	1.46mi
2601 Pacific Dr S Fargo, ND	2.0	1.0	742	$725	$0.98	14d	1	1.46mi

HOA detail

• Monthly dues: $90 · $1,080/yr
• Likely covers: gas

Listing history 16 events

1. 2026-06-10
   status $299,900 Pending 25 DOM
2. 2026-06-09
   days on market $299,900 Contingent - Inspection 25 DOM
3. 2026-06-08
   days on market $299,900 Contingent - Inspection 24 DOM
4. 2026-06-07
   statusdays on market $299,900 Contingent - Inspection 23 DOM
5. 2026-06-02
   days on market $299,900 Active 18 DOM
6. 2026-06-01
   days on market $299,900 Active 17 DOM
7. 2026-05-31
   days on market $299,900 Active 16 DOM
8. 2026-05-30
   days on market $299,900 Active 15 DOM
9. 2026-05-21
   historical Contingent - Sale of Another Property
10. 2026-05-15
    listed $309,000 Active
11. 2018-04-23
    soldstatus
12. 2018-04-20
    soldstatus $224,900 317-char remark

    Show marketing remark (317 chars)

    Immaculate twin home with association fees for lawn and snow. 3 bedrooms, 2 baths, and a 2 car attached garage. Hardwood floors on upper level, double sinks, newer carpet throughout, gas fireplace in lower level family room, plenty of storage and it overlooks a park area. This is one nice home with a great location.

13. 2018-02-20
    listed $224,900 317-char remark

    Show marketing remark (317 chars)

    Immaculate twin home with association fees for lawn and snow. 3 bedrooms, 2 baths, and a 2 car attached garage. Hardwood floors on upper level, double sinks, newer carpet throughout, gas fireplace in lower level family room, plenty of storage and it overlooks a park area. This is one nice home with a great location.

14. 2014-06-16
    soldstatus $192,000
15. 2014-06-13
    soldstatus $192,000 387-char remark

    Show marketing remark (387 chars)

    Impeccable twinhome with lawn care and snow removal. Bright and sunny open plan with view of park. Cumaru hardwood floor in kitchen/dining/living room. New LG stainless appliances. Large island. Spacious master with lots of storage. Hollywood bath with double sinks. Family room with gas fireplace. Steel sdg. Shingles 2008. Lots of garage storage. Water htr 3 yrs old., Total SqFt: 2160

16. 2014-04-05
    listed $188,000 387-char remark

    Show marketing remark (387 chars)

    Impeccable twinhome with lawn care and snow removal. Bright and sunny open plan with view of park. Cumaru hardwood floor in kitchen/dining/living room. New LG stainless appliances. Large island. Spacious master with lots of storage. Hollywood bath with double sinks. Family room with gas fireplace. Steel sdg. Shingles 2008. Lots of garage storage. Water htr 3 yrs old., Total SqFt: 2160

ⓘ 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: $2,223 · $185/mo
• Projected year-2 tax: $2,939 · $245/mo
• Expected delta: +$716/yr (+$60/mo · 32.2%)

ⓘ 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: $30,636
• − Mortgage interest: −$16,799
• − Property taxes: −$2,223
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,451
• − Management: −$2,451
• − HOA: −$1,080
• − Depreciation: −$8,724
• Taxable loss: −$4,592
• Est. tax savings @ 24.0%: +$1,102
• After-tax cash flow: $1,629/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): 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

+64.4% since first listed

8 events — show timeline

• 2026-05-21 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-15 Listed $309,000 NORTHSTARMLS as Distributed by MLS Grid
• 2018-04-23 Sold (Public Records) — Public Records
• 2018-04-20 Sold (MLS) $224,900 NORTHSTARMLS as Distributed by MLS Grid
• 2018-02-20 Listed $224,900 NORTHSTARMLS as Distributed by MLS Grid
• 2014-06-16 Sold (Public Records) $192,000 Public Records
• 2014-06-13 Sold (MLS) $192,000 NORTHSTARMLS as Distributed by MLS Grid
• 2014-04-05 Listed $188,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

-0.3%/yr

Latest (2025): $2,223 · -41.1% YoY. Source: county tax records.