3731 Renee Dr · Bismarck, ND 58503

$269,900

3 bd · 1.5 ba · 1,680 sqft · Townhouse · 3 Days on market

Built 1980 3,270 sqft lot Est $269k · at est.

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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 +13.8/30.0
• ARV discount +7.3/15.0
• Rent growth +5.0/5.0
• DSCR +4.2/10.0
• Livability +4.0/5.0
• Schools +3.7/10.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

* AS PER OWNER LOTS OFBLT IN STORAGE-SUPER CLEAN-EXCLUDE SWINGSET, KENNEL, MATCHINGCURTAINS TO BEDSPREADS-SHINGLED '95-NO CONDO FEES. Fenced Yard. Basement - FULL.

Key facts

• Updated townhouse
• Tiled backsplash
• Walk-in closet

Tags

• UPDATED TOWNHOUSE
• MODERN FINISHES
• UPGRADED APPLIANCES
• TILED BACKSPLASH
• UPDATED MAIN BATHROOM
• WALK-IN CLOSET

Property features AI

Finance

• Other: Property listed by BIANCO REALTY, INC.

Exterior

• Parking: Detached garage (1 car); Driveway with concrete surface
• Utilities: Public water; Public sewer; Natural gas available; Cable available; Other utilities available
• Home design: Residential townhouse; Three or more levels
• Construction: Masonite exterior
• Exterior features: Garden; Deck; Full fenced yard; Irregular lot with dimensions approximately 20 x 20 x 163

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: Total of 10 rooms (bedroom count not specified)
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central air conditioning; Forced air heating (natural gas)
• Interior features: Window treatments; Finished full basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath townhouse listed at $270k.

Deal economics

• At list price, monthly cash flow is $22 ($269/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 $204k (24.6% below list).
• Recommended offer: $204k (24.6% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 3.1% in Bismarck — 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 79/100 on livability (#5 in ND, #2,213 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: crime C-, amenities D+, commute F.
• Bismarck 1 (urban): math 41% / reading 42% proficiency, ranked #25 of 53 in ND (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 19% free/reduced lunch — higher-income household profile.
• Zoned schools: Northridge Elementary School (math 56% / reading 43%, grade D, #65 of 236 statewide, top 37%, 425 students, 31% FRL); Horizon Middle School (math 42% / reading 50%, grade D+, #13 of 35 statewide, top 35%, 1,044 students, 14% FRL); Century High School (math 43% / reading 63%, grade C-, #14 of 144 statewide, top 9%, 1,427 students, 12% FRL) — zoned schools at 19% FRL track the district average.
• Market conditions: Rents rising fast (+11.8%/yr); 486 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 259 units permitted in Burleigh County in 2024 (0 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 $8k of value loss. Plan a longer hold.
• Burleigh County population projected at +61% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 31y 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 $150k; list at $270k implies a 80% gain — meaningful room to come down on a strong offer.

Recommended offer $203,612 (24.6% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
3. 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?
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: 0.75% ✗
• Cap rate: 6.39%
• Cash-on-cash: 0.36%
• DSCR: 1.02
• GRM: 11.0

CMA / ARV

• ARV (on-the-fly): $268,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3806 Montreal St N	0.05mi	3/2.0	1,890 (+12%)	6mo	$259,000	$137	70
2976 Ontario Ln	0.49mi	3/2.0	1,735 (+3%)	6mo	$245,000	$141	65
3005 Ontario Ln	0.52mi	3/2.0	1,724 (+3%)	6mo	$290,000	$168	64
221 Colt Ave	0.40mi	3/2.0	1,830 (+9%)	0mo	$550,000	$301	64
432 Brandon Dr E	0.30mi	2/2.0 (-1)	1,773 (+6%)	8mo	$229,900	$130	64
4101 Coleman St #2	0.55mi	3/2.0	1,593 (-5%)	1mo	$292,500	$184	63
3333 Montreal St #201	0.37mi	2/2.0 (-1)	1,553 (-8%)	3mo	$249,000	$160	60
3305 Montreal St #202	0.41mi	2/2.0 (-1)	1,553 (-8%)	4mo	$239,900	$154	58
3333 Montreal St	0.37mi	2/2.0 (-1)	1,553 (-8%)	7mo	$242,400	$156	57
2966 Ontario Ln	0.53mi	2/2.5 (-1)	1,788 (+6%)	4mo	$279,900	$157	53
4115 Normandy St	0.41mi	3/2.5	1,906 (+14%)	6mo	$345,000	$181	49
3333 Montreal St #305	0.37mi	2/2.0 (-1)	1,445 (-14%)	7mo	$244,900	$169	47

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

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -11.1%
• Equity multiple: 0.58×
• Total profit: $-31,689
• Equity at exit: $40,243

10-year hold

• IRR: 3.5%
• Equity multiple: 1.30×
• Total profit: $22,647
• Equity at exit: $23,336

Cash invested: $75,572 (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 58503

• Home prices YoY: -25.6%
• Rents YoY: 11.8%
• Active inventory: 486
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $2,036 high
• Mortgage (P&I): −$1,415
• Tax from tax record: −$58 /mo · $699/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$428
• Net cashflow: $22

Break-even live

Break-even rent $2,008

Max offer price $269,900

Occupancy floor 94%

Sensitivity live

Price	-10% $175	-5% $99	+0% $22	+5% $-54	+10% $-130
Rent	-10% $-138	-5% $-58	+0% $22	+5% $103	+10% $183
Rate	-1.0pp $158	-0.5pp $91	base $22	+0.5pp $-48	+1.0pp $-119

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: $67,475
• Closing costs: $8,097
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4201 Montreal St Bismarck, ND	1.0–3.0	1.0–2.0	1092	$1,886	$1.73	23d	15	0.31mi
4126A Normandy St Bismarck, ND	2.0	1.5	1468	$1,750	$1.19	23d	1	0.39mi
4227 Serenity Ct Bismarck, ND	3.0	2.5	1562	$2,395	$1.53	23d	1	0.45mi
4231 Serenity Ct Bismarck, ND	3.0	2.5	1562	$2,395	$1.53	23d	1	0.45mi
4442 Serenity Ct Bismarck, ND	3.0	2.5	1544	$2,395	$1.55	23d	1	0.49mi
1600 Mapleton Ave Unit 104 Bismarck, ND	3.0	2.0	1456	$1,600	$1.10	23d	1	1.20mi
2113 Grimsrud Dr Bismarck, ND	1.0–3.0	1.0–2.0	948	$1,595	$1.68	23d	10	1.35mi
2141 Xavier St Unit 312 Bismarck, ND	2.0	2.0	1065	$1,215	$1.14	23d	1	1.40mi
4309 N 19th St Bismarck, ND	2.0	2.0	1100	$1,955	$1.78	23d	1	1.45mi

Listing history 6 events

1. 2026-05-24
   status Pending
2. 2026-05-20
   listed $269,900 Active
3. 2016-05-04
   soldstatus $150,000
4. 2015-10-27
   soldstatus
5. 1995-10-13
   soldstatus 163-char remark

   Show marketing remark (163 chars)

   * AS PER OWNER LOTS OFBLT IN STORAGE-SUPER CLEAN-EXCLUDE SWINGSET, KENNEL, MATCHINGCURTAINS TO BEDSPREADS-SHINGLED '95-NO CONDO FEES. Fenced Yard. Basement - FULL.

6. 1995-07-12
   listed $59,900 163-char remark

   Show marketing remark (163 chars)

   * AS PER OWNER LOTS OFBLT IN STORAGE-SUPER CLEAN-EXCLUDE SWINGSET, KENNEL, MATCHINGCURTAINS TO BEDSPREADS-SHINGLED '95-NO CONDO FEES. Fenced Yard. Basement - FULL.

ⓘ 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: $699 · $58/mo
• Projected year-2 tax: $2,645 · $220/mo
• Expected delta: +$1,946/yr (+$162/mo · 278.2%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 12 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,433
• − Mortgage interest: −$15,119
• − Property taxes: −$699
• − Insurance: −$1,350
• − Repairs & maintenance: −$1,955
• − Management: −$1,955
• − Depreciation: −$7,852
• Taxable loss: −$4,495
• Est. tax savings @ 24.0%: +$1,079
• After-tax cash flow: $1,348/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: Bismarck 1
• NCES district ID: 3800014
• Math proficiency: 41% ▼ -5.00%
• Reading proficiency: 42% ▼ -6.00%
• Median HH income: $60,649
• Composite: 36.76/100
• National rank: #4577
• State rank: #25 of 53 in ND

Livability — Bismarck

• Score: 79/100
• State rank: #5
• US rank: #2213

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bismarck, ND
• County: Burleigh County · 97,300 people
• City population: 97,300
• Metro: Bismarck, ND
• Population (ZIP): 37,683
• Household income: $102,333
• Rent vs Own: 25.7% rent · 74.3% own
• Severe rent burden: 814.0

Population outlook (Burleigh County) Hauer SSP2

• Today (2025): 119,359 people
• By 2030: 133,047 · +11.5%
• By 2040: 161,545 · +35.3%
• By 2050: 191,960 · +60.8%
• By 2075: 274,569 · +130.0%
• By 2100: 350,910 · +194.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 6% Hispanic / Latino 2% Asian 2% Black 1%
• Common ancestry: Portuguese 17% Scotch-Irish 4% Scottish 2%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · German/W. Germanic 2% Spanish 1% Tagalog/Filipino 1%

Political lean MEDSL · Burleigh

• 2024 margin: Solid R (+43.2) · D 27.5% · R 70.7% · Other 1.8%
• 2008→2024 swing: -19.7pp toward R · 2008: -23.6pp · 2024: -43.2pp
• All cycles: 2024: R+43.2 2020: R+40.2 2016: R+46.1 2012: R+32.1 2008: R+23.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -76.96%
• Current HPI: 223.9683
• Rent YoY: ▲ 11.79%
• Metro: Bismarck, ND
• 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

+350.6% since first listed

6 events — show timeline

• 2026-05-24 Pending — GNMLS
• 2026-05-20 Listed $269,900 GNMLS
• 2016-05-04 Sold (Public Records) $150,000 Public Records
• 2015-10-27 Sold (Public Records) — Public Records
• 1995-10-13 Sold (MLS) — GNMLS
• 1995-07-12 Listed $59,900 GNMLS

Property tax history

-5.1%/yr

Latest (2025): $699 · -65.2% YoY. Source: county tax records.