303 Main St · Almont, ND 58520

$35,000

3 bd · 1.0 ba · 1,364 sqft · Other · 61 Days on market

Built 1950 7,000 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 +4.7/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This 3 bedroom, one bathroom bungalow in Almont was the Luthern church repurposed to a home. There is an entryway/laundry leading to the kitchen. The open concept floorplan leads from the kitchen to the dining then the living room. Off of the Kitchen are the 2 main floor bedrooms and the full bathroom. Upstairs you will find another bedroom and storage areas. The full basement is unfinished with the furnace water heater and lots of storage. The water service from the curb stop and to sewer line to the main were replaced recently. Ample off street parking is available west of the house. Almont is a quiet, friendly town 40 miles to the Bismarck- Mandan are for shopping, recreation, and Medical facilities.

Key facts

• Propane tank owned
• Quiet friendly town
• Full basement

Tags

• ENTRYWAY LAUNDRY
• OPEN CONCEPT FLOORPLAN
• FULL BASEMENT
• AMPLE OFF STREET PARKING
• PROPANE TANK OWNED
• QUIET FRIENDLY TOWN

Property features AI

Exterior

• Utilities: Public sewer
• Home design: Single family residence; Residential property
• Construction: Basement: concrete, unfinished
• Exterior features: Lot dimensions approximately 50 x 140; Zoned for low-density residential

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Total rooms: 10; Has basement (concrete, unfinished)
• Bathrooms: 1 full bathroom
• Heating & cooling: Propane heating; No cooling
• Interior features: Range; Refrigerator
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $35k.

Deal economics

• At list price, monthly cash flow is $716 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Recommended offer: $33k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#144 in ND) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, health & safety A; Watch: housing C-, schools F, amenities F.
• New Salem-Almont 49 (rural): math 55% / reading 50% proficiency, ranked #33 of 169 in ND (top 20%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: 1 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 $1k of equity ($242 loan paydown + $1k 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 $10k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($33k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $32,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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.
7. 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.
8. 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: 3.40% ✓
• Cap rate: 30.85%
• Cash-on-cash: 87.72%
• DSCR: 4.90
• GRM: 2.4

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: 92.0%
• Equity multiple: 6.09×
• Total profit: $49,850
• Equity at exit: $15,738

10-year hold

• IRR: 91.6%
• Equity multiple: 12.58×
• Total profit: $113,532
• Equity at exit: $24,253

Cash invested: $9,800 (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 58520

• Active inventory: 1
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $1,191 medium
• Mortgage (P&I): −$184
• Tax from tax record: −$26 /mo · $315/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$250
• Net cashflow: $716

Break-even live

Break-even rent $284

Max offer price $35,000

Occupancy floor 35%

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $35,000 Active 61 DOM
2. 2026-06-18
   days on market $35,000 Active 60 DOM
3. 2026-06-17
   days on market $35,000 Active 59 DOM
4. 2026-06-16
   days on market $35,000 Active 58 DOM
5. 2026-06-15
   days on market $35,000 Active 57 DOM
6. 2026-06-14
   days on market $35,000 Active 55 DOM
7. 2026-06-13
   days on market $35,000 Active 54 DOM
8. 2026-06-10
   days on market $35,000 Active 52 DOM
9. 2026-06-09
   days on market $35,000 Active 51 DOM
10. 2026-06-08
    days on market $35,000 Active 50 DOM
11. 2026-06-07
    days on market $35,000 Active 49 DOM
12. 2026-06-05
    days on market $35,000 Active 46 DOM
13. 2026-06-03
    days on market $35,000 Active 45 DOM
14. 2026-06-02
    days on market $35,000 Active 44 DOM
15. 2026-06-01
    days on market $35,000 Active 43 DOM
16. 2026-05-31
    days on market $35,000 Active 42 DOM
17. 2026-05-30
    days on market $35,000 Active 41 DOM
18. 2026-04-20
    listed $35,000 Active 712-char remark

    Show marketing remark (712 chars)

    This 3 bedroom, one bathroom bungalow in Almont was the Luthern church repurposed to a home. There is an entryway/laundry leading to the kitchen. The open concept floorplan leads from the kitchen to the dining then the living room. Off of the Kitchen are the 2 main floor bedrooms and the full bathroom. Upstairs you will find another bedroom and storage areas. The full basement is unfinished with the furnace water heater and lots of storage. The water service from the curb stop and to sewer line to the main were replaced recently. Ample off street parking is available west of the house. Almont is a quiet, friendly town 40 miles to the Bismarck- Mandan are for shopping, recreation, and Medical facilities.

19. 2026-04-20
    listed $35,000 Active

    Show marketing remark (712 chars)

    This 3 bedroom, one bathroom bungalow in Almont was the Luthern church repurposed to a home. There is an entryway/laundry leading to the kitchen. The open concept floorplan leads from the kitchen to the dining then the living room. Off of the Kitchen are the 2 main floor bedrooms and the full bathroom. Upstairs you will find another bedroom and storage areas. The full basement is unfinished with the furnace water heater and lots of storage. The water service from the curb stop and to sewer line to the main were replaced recently. Ample off street parking is available west of the house. Almont is a quiet, friendly town 40 miles to the Bismarck- Mandan are for shopping, recreation, and Medical facilities.

ⓘ 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: $315 · $26/mo
• Projected year-2 tax: $343 · $29/mo
• Expected delta: +$28/yr (+$2/mo · 9.0%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥97°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: $14,289
• − Mortgage interest: −$1,961
• − Property taxes: −$315
• − Insurance: −$175
• − Repairs & maintenance: −$1,143
• − Management: −$1,143
• − Depreciation: −$1,018
• Taxable income: $8,535
• Est. tax owed @ 24.0%: −$2,048
• After-tax cash flow: $6,548/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: New Salem-Almont 49
• NCES district ID: 3800392
• Math proficiency: 55% ▲ 5.00%
• Reading proficiency: 50% ▲ 5.00%
• Median HH income: $52,772
• Composite: 47.05/100
• National rank: #5126
• State rank: #33 of 169 in ND

Livability — Almont

• Score: 67/100
• State rank: #144
• US rank: #11099

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Almont, ND
• Population (ZIP): 284

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 (100%)
• Race & ethnicity: White 100%
• Common ancestry: Portuguese 14% Scottish 13%
• Foreign-born: 2% · Canada
• Languages at home: 99% English-only · French/Haitian/Cajun 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: —
• 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

+0.0% since first listed

2 events — show timeline

• 2026-04-20 Listed $35,000 GNMLS
• 2026-04-20 Listed $35,000 Badlands BOR MLS

Property tax history

+13.1%/yr

Latest (2025): $315 · -8.6% YoY. Source: county tax records.