518 4th St SE · Minot, ND 58701

$59,900

5 bd · 3.5 ba · 2,952 sqft · SingleFamily public records · 5 Days on market

Built 1919 7,492 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
• Rent growth +3.8/5.0
• Schools +3.8/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

STEAL OF A DEAL!!! This 1.5 story home has 1664 Sq feet above grade with with tons of opportunity!! This large home features 5 bedrooms plus 2 bonus rooms non- egress. The lower level has a separate living area with its own entrance complete with a kitchen. The main floor features a master bedroom and laundry off the kitchen. There is also a separate entrance for the upstairs so there is a possibility of 3 separate living areas. There is new carpet on the main and second floors. Many living opportunities such as a mother in law-suite or grown children with their own family but separate living quarters and help make the house payment!! Take a look for yourself!

Key facts

• Close to hospitals
• Close to downtown
• 7,492 sq ft lot

Tags

• SUBSTANTIAL RENOVATIONS
• CLOSE TO DOWNTOWN
• CLOSE TO HOSPITALS

Property features AI

Exterior

• Parking: Detached concrete garage with 2 car spaces
• Utilities: Public water; Public sewer; Electricity connected; Water connected
• Home design: Single-family residence; Three or more levels
• Construction: Metal/steel siding; Shingle roof; Concrete perimeter foundation; Built on multiple levels (see levels)
• Exterior features: Enclosed porch; Porch

Interior

• Bathrooms: One full bathroom; One three-quarter bathroom
• Heating & cooling: No central cooling; No listed heating (see remarks)
• Interior features: Seven total rooms; Basement with full, unfinished area, walk-out access and bath stubbed

What this means for you Summary

Snapshot

• This is a 5-bed/3.5-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $787 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Cap rate 22.1% vs local median 2.4% in Minot — 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 75/100 on livability (#21 in ND, #3,953 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Minot 1 (town): math 41% / reading 46% proficiency, ranked #24 of 53 in ND (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+5.0%/yr); 174 active listings in the ZIP; 123 units permitted in Ward County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $414 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Ward County population projected at +76% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 5.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 8y 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.

Risks & watch-outs

• Watch-outs: built in 1919 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $59,900

Questions for the listing agent

1. Built in 1919 — 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. 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.
4. 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.
5. 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: 2.46% ✓
• Cap rate: 22.07%
• Cash-on-cash: 56.33%
• DSCR: 3.51
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $304,056
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
519 4th St	0.03mi	5/5.0	3,172 (+8%)	4mo	$439,000	$138	77
316 5th Ave SE	0.03mi	4/2.0 (-1)	3,124 (+6%)	4mo	$386,000	$124	74
203 7th Ave SE	0.12mi	4/3.0 (-1)	3,179 (+8%)	8mo	$327,000	$103	68
624 Main St S	0.25mi	5/3.5	3,136 (+6%)	13mo	$255,000	$81	67
229 10th Ave Ave SE	0.29mi	4/2.5 (-1)	2,925 (-1%)	18mo	$295,000	$101	61
621 Main St S	0.22mi	4/2.0 (-1)	3,114 (+6%)	22mo	$285,000	$92	52
424 1st St NE	0.71mi	6/4.0 (+1)	2,856 (-3%)	4mo	$335,000	$117	51
106 8th St SE	0.41mi	5/2.0	2,634 (-11%)	8mo	$293,000	$111	50
1419 2nd St SE	0.69mi	4/3.0 (-1)	2,954 (+0%)	15mo	$284,250	$96	48
315 9th Ave Ave SW	0.55mi	4/3.0 (-1)	2,832 (-4%)	14mo	$250,000	$88	48
1105 Hiawatha St	0.55mi	4/2.5 (-1)	3,032 (+3%)	20mo	$512,000	$169	44
1431 1st St SE	0.74mi	5/3.0	2,541 (-14%)	20mo	$235,000	$92	24

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 · 5.05% rent growth · sell at horizon

5-year hold

• IRR: 57.0%
• Equity multiple: 3.60×
• Total profit: $43,549
• Equity at exit: $8,931

10-year hold

• IRR: 62.6%
• Equity multiple: 7.90×
• Total profit: $115,795
• Equity at exit: $5,179

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 58701

• Rents YoY: 5.0%
• Active inventory: 174
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,476 medium
• Mortgage (P&I): −$314
• Tax from tax record: −$40 /mo · $480/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$310
• Net cashflow: $787

Break-even live

Break-even rent $480

Max offer price $59,900

Occupancy floor 42%

Sensitivity live

Price	-10% $821	-5% $804	+0% $787	+5% $770	+10% $753
Rent	-10% $671	-5% $729	+0% $787	+5% $846	+10% $904
Rate	-1.0pp $818	-0.5pp $803	base $787	+0.5pp $772	+1.0pp $756

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 5 events

1. 2026-06-19
   days on market $59,900 Active 5 DOM
2. 2026-06-18
   days on market $59,900 Active 4 DOM
3. 2026-06-17
   days on market $59,900 Active 3 DOM
4. 2026-06-16
   days on market $59,900 Active 2 DOM
5. 2026-06-15
   listed $59,900 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: $480 · $40/mo
• Projected year-2 tax: $587 · $49/mo
• Expected delta: +$107/yr (+$9/mo · 22.4%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥95°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,718
• − Mortgage interest: −$3,355
• − Property taxes: −$480
• − Insurance: −$300
• − Repairs & maintenance: −$1,417
• − Management: −$1,417
• − Depreciation: −$1,743
• Taxable income: $9,006
• Est. tax owed @ 24.0%: −$2,161
• After-tax cash flow: $7,287/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: Minot 1
• NCES district ID: 3813030
• Math proficiency: 41% ▼ -4.00%
• Reading proficiency: 46% ▼ -1.00%
• Median HH income: $54,224
• Composite: 37.79/100
• National rank: #4341
• State rank: #24 of 53 in ND

Livability — Minot

• Score: 75/100
• State rank: #21
• US rank: #3953

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Minot, ND
• County: Ward County · 55,225 people
• City population: 55,225
• Metro: Minot, ND
• Population (ZIP): 33,086
• Household income: $73,269
• Rent vs Own: 39.4% rent · 60.6% own
• Severe rent burden: 1146.0

Population outlook (Ward County) Hauer SSP2

• Today (2025): 92,683 people
• By 2030: 104,825 · +13.1%
• By 2040: 131,945 · +42.4%
• By 2050: 163,134 · +76.0%
• By 2075: 256,561 · +176.8%
• By 2100: 354,426 · +282.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Two or more races 8% Hispanic / Latino 5% Black 3% Native American 2% Asian 2%
• Common ancestry: Portuguese 27% Scotch-Irish 3% Lithuanian 2%
• Foreign-born: 5% · Canada
• Languages at home: 94% English-only · Spanish 2% Other Asian/Pacific 1% Tagalog/Filipino 1%

Political lean MEDSL · Ward

• 2024 margin: Solid R (+47.4) · D 25.5% · R 72.8% · Other 1.7%
• 2008→2024 swing: -28.2pp toward R · 2008: -19.2pp · 2024: -47.4pp
• All cycles: 2024: R+47.4 2020: R+44.9 2016: R+47.7 2012: R+30.8 2008: R+19.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -227.47%
• Current HPI: 144.9492
• Rent YoY: ▲ 5.05%
• Metro: Minot, 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

-0.2% since first listed

9 events — show timeline

• 2026-06-14 Listed $59,900 GNMLS
• 2024-12-18 Price Changed $122,000 MMLS
• 2024-11-25 Listed $129,900 MMLS
• 2019-06-10 Sold (Public Records) $124,900 Public Records
• 2019-06-06 Sold (MLS) — MMLS
• 2018-04-30 Listed $124,900 MMLS
• 2016-10-10 Sold (Public Records) — Public Records
• 2008-10-17 Sold (Public Records) $60,000 Public Records
• 2006-10-27 Sold (Public Records) — Public Records

Property tax history

-11.4%/yr

Latest (2025): $480 · -70.0% YoY. Source: county tax records.