204 D St S · Glen Ullin, ND 58631

$115,000

4 bd · 2.0 ba · 1,681 sqft · Other · 10 Days on market

Built 1923 10,592 sqft lot

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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 +20.8/30.0
• ARV discount +7.5/15.0
• Appreciation +7.5/10.0
• DSCR +6.6/10.0
• 1% rule +4.2/10.0
• Schools +4.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• Modern appliances
• Natural gas range
• Large entryway

Tags

• LARGE ENTRYWAY
• EXPANSIVE LIVING ROOM
• OPEN KITCHEN
• MODERN APPLIANCES
• NATURAL GAS RANGE
• GENEROUS COUNTER SPACE

Property features AI

Finance

• Other: Landscaped, level lot (approximately 0.24 acres, 141' x 75')

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Public sewer; Natural gas available and connected; Electricity connected; Phone connected
• Home design: Single family residence; Two levels
• Construction: Masonite siding; Block foundation; Concrete basement
• Exterior features: Shingle roof; Back yard with full chain-link fence; Shed(s)

Interior

• Kitchen: Dishwasher; Gas range; Microwave; Refrigerator
• Flooring: Vinyl flooring; Carpet flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Baseboard heating; Hot water heating; Natural gas heating; Ceiling fans for cooling; Wall/window air conditioning units
• Interior features: Ceiling fans

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $115k.

Deal economics

• At list price, monthly cash flow is $159 ($2k/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 $106k (7.5% below list).
• Recommended offer: $106k (7.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#210 in ND) — a middle-class / working-renter tenant base. Strengths: cost of living A+; Watch: crime D+, health & safety D+, amenities F.
• Glen Ullin 48 (rural): math 50% / reading 45% proficiency, ranked #74 of 169 in ND (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Glen Ullin Elementary School (math 42% / reading 22%, grade F, #173 of 236 statewide, top 76%, 117 students, 38% FRL); Glen Ullin High School (math 24% / reading 24%, grade F, #108 of 144 statewide, top 88%, 52 students, 38% FRL) — zoned schools average 38% FRL vs 20% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 28% at this address vs 48% district-wide (-19 pts) — the specific schools serving this property underperform the Glen Ullin 48 average; the district grade overstates school quality for this exact location.
• Market conditions: 21 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 $6k of equity ($795 loan paydown + $6k appreciation (4.9% local appreciation)).
• Morton County population projected at +48% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (4.9% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $87k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $106,361 (7.5% below list)

Questions for the listing agent

1. Built in 1923 — 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: 0.92% ✗
• Cap rate: 7.95%
• Cash-on-cash: 5.91%
• DSCR: 1.26
• GRM: 9.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.91% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 17.7%
• Equity multiple: 2.12×
• Total profit: $35,975
• Equity at exit: $64,546

10-year hold

• IRR: 17.9%
• Equity multiple: 4.11×
• Total profit: $100,213
• Equity at exit: $110,886

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 58631

• Home prices YoY: 5.9%
• Active inventory: 21
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,064 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$31 /mo · $367/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $159

Break-even live

Break-even rent $863

Max offer price $115,000

Occupancy floor 80%

Sensitivity live

Price	-10% $224	-5% $191	+0% $159	+5% $126	+10% $94
Rent	-10% $75	-5% $117	+0% $159	+5% $201	+10% $243
Rate	-1.0pp $217	-0.5pp $188	base $159	+0.5pp $129	+1.0pp $99

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 8 events

1. 2026-06-21
   days on market $115,000 Active 10 DOM
2. 2026-06-21
   days on market $115,000 Active 9 DOM
3. 2026-06-18
   days on market $115,000 Active 7 DOM
4. 2026-06-17
   days on market $115,000 Active 6 DOM
5. 2026-06-16
   days on market $115,000 Active 5 DOM
6. 2026-06-15
   days on market $115,000 Active 4 DOM
7. 2026-06-13
   days on market $115,000 Active 2 DOM
8. 2026-06-12
   listed $115,000 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: $367 · $31/mo
• Projected year-2 tax: $1,127 · $94/mo
• Expected delta: +$760/yr (+$63/mo · 207.3%)

ⓘ 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 ≥96°F today · 13 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: $12,763
• − Mortgage interest: −$6,442
• − Property taxes: −$367
• − Insurance: −$575
• − Repairs & maintenance: −$1,021
• − Management: −$1,021
• − Depreciation: −$3,345
• Taxable loss: −$8
• Est. tax savings @ 24.0%: +$2
• After-tax cash flow: $1,906/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: Glen Ullin 48
• NCES district ID: 3807830
• Math proficiency: 50% ▲ 10.00%
• Reading proficiency: 45% ▲ 5.00%
• Median HH income: $46,129
• Composite: 42.48/100
• National rank: #6881
• State rank: #74 of 169 in ND

Livability — Glen Ullin

• Score: 64/100
• State rank: #210
• US rank: #14513

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Glen Ullin, ND
• Population (ZIP): 948

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 (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 3% Pacific Islander 2%
• Common ancestry: Scotch-Irish 7% Portuguese 6% Romanian 2%
• Foreign-born: 2%
• Languages at home: 93% English-only · German/W. Germanic 5% Other Asian/Pacific 1%

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: ▲ 4.91%
• Current HPI: 87.7012
• 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

+139.6% since first listed

4 events — show timeline

• 2026-06-11 Listed $115,000 GNMLS
• 2013-10-02 Sold (Public Records) $87,000 Public Records
• 2011-06-01 Sold (Public Records) $55,000 Public Records
• 2008-07-16 Sold (Public Records) $48,000 Public Records

Property tax history

-3.3%/yr

Latest (2025): $367 · -35.6% YoY. Source: county tax records.