6097 County Road 4

Minto, ND 58261

$89,500C-

1 bd · 1.0 ba · 980 sqft · Built 1991 · Other · Active · 88 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $870/mo
• Mortgage (P&I): −$469
• Tax + insurance: −$123
• HOA: −$0
• Vac / Maint / Mgmt: −$183
• Net cashflow: $94/mo
• Annual: $1,131/yr
• Cap rate: 7.56%
• Cash-on-cash: 4.51%
• DSCR: 1.20
• 1% rule: 0.97%
• Cash to close: $25,060

Investor read

• This is a 1-bed/1.0-bath other listed at $90k.
• At list price, monthly cash flow is $94 ($1k/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 $87k (2.8% below list).
• It's been on market 88 days — a 6% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $84k (6.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($619 loan paydown + $3k appreciation (3.0% local appreciation)).
• Location reads 66/100 on livability (#148 in ND) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, health & safety D+, amenities F.
• Minto 20 (rural): math 25% / reading 45% proficiency, ranked #127 of 169 in ND (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Minto Elementary School (math 32% / reading 37%, grade F, #162 of 236 statewide, top 73%, 225 students, 46% FRL); Minto High School (math 10% / reading 30%, grade F, #131 of 144 statewide, top 92%, 83 students, 46% FRL) — zoned schools at 46% FRL track the district average.
• Market conditions: 4 active listings in the ZIP; 7 units permitted in Walsh County in 2024 (0 in 5+ unit buildings).
• Walsh County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Current owner paid $60k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 88 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.