2039 5th St NW · Minot, ND 58703

$259,900

7 bd · 4.0 ba · 1,512 sqft · MultiFamily public records · 48 Days on market

Built 1959 10,367 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 +24.8/30.0
• DSCR +8.1/10.0
• ARV discount +7.5/15.0
• 1% rule +6.0/10.0
• Rent growth +3.9/5.0
• Schools +3.8/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

NORTH HILL LOCATION ON 5TH STREET. TWO UNITS ARE BEING RENOVATED THIS MONTH. .. WHICH INCLUDE THE BATHROOM, DRYWALL, & PAINT. THREE UNITS HAVE TWO BEDROOMS AND ONE BATH. .. .. .AND ONE UNIT HAS ONE BEDROOM AND ONE BATH. ALL UNITS ARE FURNISHED WITH RANGE-OVEN AND FRIG. LAUNDRY AREA HAS NEW CERAMIC FLOORING AND IS NEWLY PAINTED WITH COIN OPERATED MACHINES. THIS PROPERTY IS OFFERED @ $18,500 BELOW CITY ACCESSED VALUE.

Key facts

• Well maintained
• Conveniently located
• 0.24 acre lot

Tags

• WELL MAINTAINED
• ADDITIONAL PARKING SPACE
• CONVENIENTLY LOCATED

Property features AI

Finance

• Financial info: Annual property tax approximately $2,979.53

Exterior

• Utilities: Public water; Public sewer
• Home design: Residential income property; Quadruplex (four-unit building); Zoned R3B
• Exterior features: Patio

What this means for you Summary

Snapshot

• This is a 7-bed/4.0-bath multifamily listed at $260k.

Deal economics

• At list price, monthly cash flow is $554 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $260k).
• Recommended offer: $252k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.9% 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 (+5.7%/yr); 146 active listings in the ZIP; solid renter incomes; 123 units permitted in Ward County in 2024 (0 in 5+ unit buildings).
• This rent runs 42% of the median local income ($83k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• 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 + 5.7% rent growth), your $73k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($252k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y 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 1959 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $252,103 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.10% ✓
• Cap rate: 8.85%
• Cash-on-cash: 9.13%
• DSCR: 1.41
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.74% rent growth · sell at horizon

5-year hold

• IRR: 0.4%
• Equity multiple: 1.02×
• Total profit: $1,256
• Equity at exit: $38,752

10-year hold

• IRR: 12.6%
• Equity multiple: 2.12×
• Total profit: $81,658
• Equity at exit: $22,471

Cash invested: $72,772 (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 58703

• Rents YoY: 5.7%
• Active inventory: 146
• Price-to-rent: 22.1×

Monthly cashflow live

• Estimated rent: $2,862 medium
• Mortgage (P&I): −$1,363
• Tax from tax record: −$236 /mo · $2,831/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$601
• Net cashflow: $554

Break-even live

Break-even rent $2,161

Max offer price $259,900

Occupancy floor 76%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,958
1× unit	1	1	$903
Total (3 units)			$2,862

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: $64,975
• Closing costs: $7,797
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-05-12
   status Pending
2. 2026-04-23
   historical Active Under Contract
3. 2026-03-25
   listed $259,900 Active
4. 2017-02-27
   soldstatus
5. 2017-02-24
   soldstatus 424-char remark

   Show marketing remark (424 chars)

   NORTH HILL LOCATION ON 5TH STREET. TWO UNITS ARE BEING RENOVATED THIS MONTH. .. WHICH INCLUDE THE BATHROOM, DRYWALL, & PAINT. THREE UNITS HAVE TWO BEDROOMS AND ONE BATH. .. .. .AND ONE UNIT HAS ONE BEDROOM AND ONE BATH. ALL UNITS ARE FURNISHED WITH RANGE-OVEN AND FRIG. LAUNDRY AREA HAS NEW CERAMIC FLOORING AND IS NEWLY PAINTED WITH COIN OPERATED MACHINES. THIS PROPERTY IS OFFERED @ $18,500 BELOW CITY ACCESSED VALUE.

6. 2016-10-24
   listed $196,500 424-char remark

   Show marketing remark (424 chars)

   NORTH HILL LOCATION ON 5TH STREET. TWO UNITS ARE BEING RENOVATED THIS MONTH. .. WHICH INCLUDE THE BATHROOM, DRYWALL, & PAINT. THREE UNITS HAVE TWO BEDROOMS AND ONE BATH. .. .. .AND ONE UNIT HAS ONE BEDROOM AND ONE BATH. ALL UNITS ARE FURNISHED WITH RANGE-OVEN AND FRIG. LAUNDRY AREA HAS NEW CERAMIC FLOORING AND IS NEWLY PAINTED WITH COIN OPERATED MACHINES. THIS PROPERTY IS OFFERED @ $18,500 BELOW CITY ACCESSED VALUE.

ⓘ 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: $2,831 · $236/mo
• Projected year-2 tax: $2,831 · $236/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 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 4/10 Moderate 6 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,344
• − Mortgage interest: −$14,558
• − Property taxes: −$2,831
• − Insurance: −$1,300
• − Repairs & maintenance: −$2,748
• − Management: −$2,748
• − Depreciation: −$7,561
• Taxable income: $2,600
• Est. tax owed @ 24.0%: −$624
• After-tax cash flow: $6,022/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): 22,139
• Household income: $82,728
• Rent vs Own: 39.0% rent · 61.0% own
• Severe rent burden: 543.0

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 9% Two or more races 8% Black 6% Asian 1%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Portuguese 20% Lithuanian 3% Scottish 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2%

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: ▼ -203.01%
• Current HPI: 138.9083
• Rent YoY: ▲ 5.74%
• 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

+32.3% since first listed

6 events — show timeline

• 2026-05-12 Pending — MMLS
• 2026-04-23 Contingent — MMLS
• 2026-03-25 Listed $259,900 MMLS
• 2017-02-27 Sold (Public Records) — Public Records
• 2017-02-24 Sold (MLS) — MMLS
• 2016-10-24 Listed $196,500 MMLS

Property tax history

-2.2%/yr

Latest (2025): $2,831 · -3.1% YoY. Source: county tax records.