415 Court St · Flasher, ND 58535

$59,900

4 bd · 2.0 ba · 2,046 sqft · Other · 13 Days on market

Built 1940 7,003 sqft lot

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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
• Schools +4.9/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Affordable housing option just 40 miles southwest of Mandan! This 1,080 square foot home has 3 bedrooms on the main floor and an updated kitchen. The 3rd bedroom is currently being used as the laundry room, but the washer/dryer set (included in sale) could easily be moved back down into the basement. Interior updates include: newer electrical service, updated counter tops in the kitchen, updated stove, newer hood fan, newer dishwasher and newer refrigerator, vanity and sink in the main bathroom have been updated and newer linoleum in the kitchen and main bathroom. Lower level is partially finished, family room and non-conforming bedroom need flooring and ceiling work and the bathroom has never been used by current owner. The plumbing in the basement that services the upstairs bathroom and kitchen area has been updated. Single stall attached garage. Has new front room window. Home sold as is, where is, in it's current condition.

Key facts

• Laundry room
• Newer roof
• Wood siding

Tags

• LAUNDRY ROOM
• WALK-UP WET BAR SETUP
• WOOD SIDING
• NEWER ROOF
• NEWER GUTTERS

Property features AI

Exterior

• Parking: Attached 1-car garage
• Utilities: Public water; Public sewer; Propane service
• Home design: Single-family residence; Two levels; Residential property
• Construction: Wood siding; Shingle roof
• Exterior features: Rectangular lot; Asphalt road frontage on a city street; Publicly maintained road

Interior

• Kitchen: Range; Range hood; Refrigerator
• Bedrooms: Total of 13 rooms (bedroom count not specified)
• Flooring: Vinyl; Concrete; Laminate
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Window treatments; Finished full basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $60k.

Deal economics

• At list price, monthly cash flow is $726 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).

Location & tenants

• Location reads 58/100 on livability (#297 in ND) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: crime D+, employment D+, amenities F.
• Flasher 39 (rural): math 55% / reading 55% proficiency, ranked #18 of 169 in ND (top 11%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 2 active listings in the ZIP; 94 units permitted in Morton County in 2024 (5 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($414 loan paydown + $2k appreciation (3.0% local appreciation)).
• Morton County population projected at +48% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 20y 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 $37k; list at $60k implies a 62% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $59,900

Questions for the listing agent

1. Built in 1940 — 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. Crime grade is D 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. 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.
5. 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.
6. 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: 2.41% ✓
• Cap rate: 20.84%
• Cash-on-cash: 51.97%
• DSCR: 3.31
• GRM: 3.5

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: 57.1%
• Equity multiple: 4.19×
• Total profit: $53,501
• Equity at exit: $26,934

10-year hold

• IRR: 56.7%
• Equity multiple: 8.49×
• Total profit: $125,660
• Equity at exit: $41,508

Cash invested: $16,772 (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 58535

• Active inventory: 2
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,443 medium
• Mortgage (P&I): −$314
• Tax est. 1.5%: −$75 /mo · $898/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$303
• Net cashflow: $726

Break-even live

Break-even rent $524

Max offer price $59,900

Occupancy floor 45%

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-05-08
   status Pending
2. 2026-04-30
   status Active
3. 2026-04-21
   status Pending
4. 2026-04-15
   listed $59,900 Active
5. 2016-01-05
   soldstatus $37,000
6. 2016-01-04
   soldstatus 941-char remark

   Show marketing remark (941 chars)

   Affordable housing option just 40 miles southwest of Mandan! This 1,080 square foot home has 3 bedrooms on the main floor and an updated kitchen. The 3rd bedroom is currently being used as the laundry room, but the washer/dryer set (included in sale) could easily be moved back down into the basement. Interior updates include: newer electrical service, updated counter tops in the kitchen, updated stove, newer hood fan, newer dishwasher and newer refrigerator, vanity and sink in the main bathroom have been updated and newer linoleum in the kitchen and main bathroom. Lower level is partially finished, family room and non-conforming bedroom need flooring and ceiling work and the bathroom has never been used by current owner. The plumbing in the basement that services the upstairs bathroom and kitchen area has been updated. Single stall attached garage. Has new front room window. Home sold as is, where is, in it's current condition.

7. 2015-10-08
   listed $37,000 941-char remark

   Show marketing remark (941 chars)

   Affordable housing option just 40 miles southwest of Mandan! This 1,080 square foot home has 3 bedrooms on the main floor and an updated kitchen. The 3rd bedroom is currently being used as the laundry room, but the washer/dryer set (included in sale) could easily be moved back down into the basement. Interior updates include: newer electrical service, updated counter tops in the kitchen, updated stove, newer hood fan, newer dishwasher and newer refrigerator, vanity and sink in the main bathroom have been updated and newer linoleum in the kitchen and main bathroom. Lower level is partially finished, family room and non-conforming bedroom need flooring and ceiling work and the bathroom has never been used by current owner. The plumbing in the basement that services the upstairs bathroom and kitchen area has been updated. Single stall attached garage. Has new front room window. Home sold as is, where is, in it's current condition.

8. 2013-03-19
   soldstatus $27,000
9. 2007-06-14
   soldstatus
10. 2006-06-15
    soldstatus 103-char remark

    Show marketing remark (103 chars)

    Contact Realtor of your choice for more information regarding HUD properties. All HUD homes sold as is.

11. 2006-01-24
    listed $10,200 103-char remark

    Show marketing remark (103 chars)

    Contact Realtor of your choice for more information regarding HUD properties. All HUD homes sold as is.

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥96°F today · 13 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: $17,321
• − Mortgage interest: −$3,355
• − Property taxes: −$898
• − Insurance: −$300
• − Repairs & maintenance: −$1,386
• − Management: −$1,386
• − Depreciation: −$1,743
• Taxable income: $8,254
• Est. tax owed @ 24.0%: −$1,981
• After-tax cash flow: $6,735/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: Flasher 39
• NCES district ID: 3806930
• Math proficiency: 55% ▬ 0.00%
• Reading proficiency: 55% ▲ 10.00%
• Median HH income: $57,023
• Composite: 49.42/100
• National rank: #4321
• State rank: #18 of 169 in ND

Livability — Flasher

• Score: 58/100
• State rank: #297
• US rank: #21082

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Flasher, ND
• Population (ZIP): 435

Population outlook (Morton County) Hauer SSP2

• Today (2025): 36,682 people
• By 2030: 39,967 · +9.0%
• By 2040: 46,921 · +27.9%
• By 2050: 54,157 · +47.6%
• By 2075: 73,661 · +100.8%
• By 2100: 89,885 · +145.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Native American 4% Two or more races 3%
• Common ancestry: Portuguese 10% Scotch-Irish 7% Russian 5%
• Languages at home: 96% English-only · German/W. Germanic 4%

Political lean MEDSL · Morton

• 2024 margin: Solid R (+53.8) · D 22.2% · R 75.9% · Other 1.9%
• 2008→2024 swing: -32.7pp toward R · 2008: -21.0pp · 2024: -53.8pp
• All cycles: 2024: R+53.8 2020: R+50.4 2016: R+53.0 2012: R+31.1 2008: R+21.0

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

+487.3% since first listed

11 events — show timeline

• 2026-05-08 Pending — GNMLS
• 2026-04-30 Relisted — GNMLS
• 2026-04-21 Pending — GNMLS
• 2026-04-15 Listed $59,900 GNMLS
• 2016-01-05 Sold (Public Records) $37,000 Public Records
• 2016-01-04 Sold (MLS) — GNMLS
• 2015-10-08 Listed $37,000 GNMLS
• 2013-03-19 Sold (Public Records) $27,000 Public Records
• 2007-06-14 Sold (Public Records) — Public Records
• 2006-06-15 Sold (MLS) — GNMLS
• 2006-01-24 Listed $10,200 GNMLS

Property tax history

-12.9%/yr

Latest (2024): $69 · -86.9% YoY. Source: county tax records.