6193 56th Ave S · Fargo, ND 58104

$279,900

3 bd · 2.0 ba · 824 sqft · MultiFamily public records · 22 Days on market

Built 2012 6,098 sqft lot

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Why this score? — see what drove the D 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 +12.1/30.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• 1% rule +3.8/10.0
• Rent growth +3.8/5.0
• Schools +3.7/10.0
• DSCR +3.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Move-in ready 3br/2ba Hough built twinhome on corner lot in Deer Creek. Close proximity to Deer Creek elementary. Open floor plan upstairs with laminate flooring throughout kitchen/dining/living, primary br and hollywood full bath. Downstairs includes 2 bedrooms, full bath, and family room. Enjoy the evenings out on the deck. Garage is fully sheetrocked and insulated.

Key facts

• Near schools
• Near shopping
• Scenic walking paths

Tags

• DEER CREEK NEIGHBORHOOD
• PRIME LOCATION
• NEAR PARKS
• SCENIC WALKING PATHS
• NEAR SCHOOLS
• NEAR SHOPPING

Property features AI

Exterior

• Parking: Attached insulated garage with storage and electric; Concrete driveway; 2-car garage
• Utilities: City sewer (in street); Natural gas
• Home design: Attached residential property; Split entry / Bi-level layout; Entry and living spaces on upper and lower levels
• Construction: Asphalt roof; Concrete foundation (foundation area noted); Built with stone and vinyl siding
• Exterior features: Corner lot; Stone and vinyl exterior; Deck; Porch; City street frontage (publicly maintained)

Interior

• Kitchen: Cooktop; Range; Microwave; Dishwasher; Disposal; Refrigerator; Freezer; Stainless steel appliances; Kitchen center island
• Bedrooms: 3 bedrooms (combination of upper and lower levels)
• Bathrooms: 2 full bathrooms (one on upper level, one on lower level)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Vaulted ceilings; Finished basement with storage space; Sump pump; Drain-tiled basement; Walk-in closet(s); Kitchen window; Primary bedroom walk-in closet; Center kitchen island; Porch; Deck
• Laundry & utility: Washer hookup; Electric dryer hookup; Laundry located in basement/lower level; Utility room in lower level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $280k.

Deal economics

• At list price, monthly cash flow is $-62 ($-741/yr) — negative.
• To cash-flow at today's rent, offer at most $269k (3.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $246k (11.9% below list).
• Recommended offer: $246k (11.9% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 2.5% in Fargo — 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 85/100 on livability (#1 in ND, #605 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F.
• West Fargo 6 (suburban): math 41% / reading 42% proficiency, ranked #26 of 53 in ND (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+5.1%/yr); 371 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,218 units permitted in Cass County in 2024 (410 in 5+ unit buildings).
• This rent runs 34% of the median local income ($86k/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.
• Cass County population projected at +69% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($276k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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.

Recommended offer $246,500 (11.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is F 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. 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.
6. 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.
7. 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: 0.88% ✗
• Cap rate: 6.03%
• Cash-on-cash: -0.94%
• DSCR: 0.96
• GRM: 9.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.13% rent growth · sell at horizon

5-year hold

• IRR: -15.4%
• Equity multiple: 0.44×
• Total profit: $-43,808
• Equity at exit: $41,734

10-year hold

• IRR: -3.4%
• Equity multiple: 0.75×
• Total profit: $-19,747
• Equity at exit: $24,201

Cash invested: $78,372 (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 58104

• Home prices YoY: -29.6%
• Rents YoY: 5.1%
• Active inventory: 371
• Price-to-rent: 18.9×

Monthly cashflow live

• Estimated rent: $2,465 medium
• Mortgage (P&I): −$1,468
• Tax from tax record: −$425 /mo · $5,095/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$518
• Net cashflow: $-62

Break-even live

Break-even rent $2,543

Max offer price $268,998

Occupancy floor 98%

Sensitivity live

Price	-10% $97	-5% $18	+0% $-62	+5% $-141	+10% $-220
Rent	-10% $-256	-5% $-159	+0% $-62	+5% $36	+10% $133
Rate	-1.0pp $79	-0.5pp $9	base $-62	+0.5pp $-134	+1.0pp $-208

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$2,464
Total (2 units)			$2,465

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: $69,975
• Closing costs: $8,397
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5100 44th Ave S Fargo, ND	1.0–3.0	1.0–2.0	979	$1,380	$1.41	14d	15	1.25mi
4550 49th Ave S Fargo, ND	3.0	1.0–2.0	996	$1,945	$1.95	14d	25	1.36mi
4901 44th Ave S Fargo, ND	1.0–3.0	1.0–2.0	948	$1,325	$1.40	14d	22	1.47mi
4551 47th Ave S Fargo, ND	2.0	1.0–2.0	987	$1,475	$1.49	14d	21	1.49mi

Listing history 8 events

1. 2026-05-11
   status Pending
2. 2026-05-02
   historical Contingent - Inspection
3. 2026-05-01
   status Active
4. 2026-04-29
   historical
5. 2026-04-17
   listed $279,900 Active
6. 2023-12-14
   soldstatus $245,000 375-char remark

   Show marketing remark (375 chars)

   Move-in ready 3br/2ba Hough built twinhome on corner lot in Deer Creek. Close proximity to Deer Creek elementary. Open floor plan upstairs with laminate flooring throughout kitchen/dining/living, primary br and hollywood full bath. Downstairs includes 2 bedrooms, full bath, and family room. Enjoy the evenings out on the deck. Garage is fully sheetrocked and insulated.

7. 2023-08-10
   listed $238,900 375-char remark

   Show marketing remark (375 chars)

   Move-in ready 3br/2ba Hough built twinhome on corner lot in Deer Creek. Close proximity to Deer Creek elementary. Open floor plan upstairs with laminate flooring throughout kitchen/dining/living, primary br and hollywood full bath. Downstairs includes 2 bedrooms, full bath, and family room. Enjoy the evenings out on the deck. Garage is fully sheetrocked and insulated.

8. 2013-04-18
   soldstatus $141,853

ⓘ 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: $5,095 · $425/mo
• Projected year-2 tax: $5,095 · $425/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 ≥98°F today · 12 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,580
• − Mortgage interest: −$15,679
• − Property taxes: −$5,095
• − Insurance: −$1,400
• − Repairs & maintenance: −$2,366
• − Management: −$2,366
• − Depreciation: −$8,143
• Taxable loss: −$5,469
• Est. tax savings @ 24.0%: +$1,313
• After-tax cash flow: $572/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: West Fargo 6
• NCES district ID: 3819410
• Math proficiency: 41% ▼ -10.00%
• Reading proficiency: 42% ▼ -10.00%
• Median HH income: $58,914
• Composite: 36.6/100
• National rank: #4628
• State rank: #26 of 53 in ND

Livability — Fargo

• Score: 85/100
• State rank: #1
• US rank: #605

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fargo, ND
• County: Cass County · 177,143 people
• City population: 130,876
• Metro: Fargo, ND-MN
• Population (ZIP): 49,168
• Household income: $85,747
• Rent vs Own: 54.6% rent · 45.4% own
• Severe rent burden: 2039.0

Population outlook (Cass County) Hauer SSP2

• Today (2025): 223,771 people
• By 2030: 251,835 · +12.5%
• By 2040: 311,816 · +39.3%
• By 2050: 378,694 · +69.2%
• By 2075: 571,386 · +155.3%
• By 2100: 769,727 · +244.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Black 7% Two or more races 5% Asian 4% Hispanic / Latino 2%
• Common ancestry: Portuguese 27% Lithuanian 4% Romanian 2%
• Foreign-born: 9% · Canada, China
• Languages at home: 92% English-only · Korean 1% Spanish 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Cass

• 2024 margin: Lean R (+8.4) · D 44.9% · R 53.3% · Other 1.9%
• 2008→2024 swing: -15.5pp toward R · 2008: 7.1pp · 2024: -8.4pp
• All cycles: 2024: R+8.4 2020: R+2.7 2016: R+10.7 2012: R+3.0 2008: D+7.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -78.58%
• Current HPI: 187.1707
• Rent YoY: ▲ 5.13%
• Metro: Fargo, ND-MN
• 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

+97.3% since first listed

8 events — show timeline

• 2026-05-11 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-02 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-01 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-29 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-17 Listed $279,900 NORTHSTARMLS as Distributed by MLS Grid
• 2023-12-14 Sold (MLS) $245,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-08-10 Listed $238,900 NORTHSTARMLS as Distributed by MLS Grid
• 2013-04-18 Sold (Public Records) $141,853 Public Records

Property tax history

+11.3%/yr

Latest (2025): $5,095 · +9.6% YoY. Source: county tax records.