305 Putnam St · Turtle Lake, ND 58575

$99,000

3 bd · 1.0 ba · 766 sqft · SingleFamily · 80 Days on market

Built 1920 10,454 sqft lot Est $83k · 19% over ↓ 1% since listing

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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 +16.6/30.0
• Appreciation +6.7/10.0
• DSCR +5.2/10.0
• 1% rule +4.5/10.0
• Schools +4.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Key facts

• Finished loft
• Laundry room
• Kitchen

Tags

• LAUNDRY ROOM
• KITCHEN
• FINISHED LOFT
• YARD SPACE
• 2 CAR GARAGE

Property features AI

Exterior

• Parking: Detached garage (2 spaces); On-street parking; Off-street parking
• Utilities: Public water; Public sewer; Natural gas available and connected; Electricity connected; Phone connected; Cable connected
• Home design: Single family residence; One and one-half stories; Fiber cement exterior
• Construction: Shingle/asphalt roof; Concrete perimeter foundation; Built with fiber cement
• Exterior features: Garden; Deck; Corner lot; Rectangular lot; Paved public road frontage on a city street

Interior

• Kitchen: Dishwasher; Microwave; Range
• Flooring: Carpet; Hardwood; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Ceiling fans; Wall/window air units
• Interior features: Ceiling fans; Pantry; Concrete unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $60 ($721/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 $94k (4.8% below list).
• Recommended offer: $93k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#198 in ND) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, crime C-, employment D+.
• Turtle Lake-Mercer 72 (rural): math 50% / reading 45% proficiency, ranked #69 of 169 in ND (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 20% free/reduced lunch — higher-income household profile.
• Market conditions: 9 active listings in the ZIP; 43 units permitted in McLean County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($684 loan paydown + $3k appreciation (3.4% local appreciation)).
• McLean County population projected at +48% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.4% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($93k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $93,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 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 1920 — 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. 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?
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: 0.95% ✗
• Cap rate: 7.02%
• Cash-on-cash: 2.60%
• DSCR: 1.12
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $83,494
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
417 Putman St	0.07mi	2/1.0 (-1)	872 (+14%)	10mo	$94,900	$109	60

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

3.38% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.0%
• Equity multiple: 1.64×
• Total profit: $17,754
• Equity at exit: $46,628

10-year hold

• IRR: 13.0%
• Equity multiple: 3.00×
• Total profit: $55,449
• Equity at exit: $73,547

Cash invested: $27,720 (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 58575

• Home prices YoY: 3.2%
• Active inventory: 9
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $942 medium
• Mortgage (P&I): −$519
• Tax est. 1.5%: −$124 /mo · $1,485/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$198
• Net cashflow: $60

Break-even live

Break-even rent $866

Max offer price $99,000

Occupancy floor 89%

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $99,000 Active 80 DOM
2. 2026-06-17
   days on market $99,000 Active 79 DOM
3. 2026-06-16
   days on market $99,000 Active 78 DOM
4. 2026-06-15
   days on market $99,000 Active 77 DOM
5. 2026-06-13
   days on market $99,000 Active 75 DOM
6. 2026-06-12
   days on market $99,000 Active 74 DOM
7. 2026-06-09
   days on market $99,000 Active 71 DOM
8. 2026-06-08
   days on market $99,000 Active 70 DOM
9. 2026-06-07
   days on market $99,000 Active 69 DOM
10. 2026-06-05
    days on market $99,000 Active 67 DOM
11. 2026-06-04
    days on market $99,000 Active 65 DOM
12. 2026-06-02
    days on market $99,000 Active 64 DOM
13. 2026-06-01
    days on market $99,000 Active 63 DOM
14. 2026-05-31
    days on market $99,000 Active 62 DOM
15. 2026-04-10
    price $99,000
16. 2026-03-30
    listed $100,000 Active
17. 2018-09-25
    soldstatus

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥95°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,305
• − Mortgage interest: −$5,546
• − Property taxes: −$1,485
• − Insurance: −$495
• − Repairs & maintenance: −$904
• − Management: −$904
• − Depreciation: −$2,880
• Taxable loss: −$909
• Est. tax savings @ 24.0%: +$218
• After-tax cash flow: $939/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: Turtle Lake-Mercer 72
• NCES district ID: 3818500
• Math proficiency: 50% ▲ 20.00%
• Reading proficiency: 45% ▬ 0.00%
• Median HH income: $48,052
• Composite: 42.66/100
• National rank: #6804
• State rank: #69 of 169 in ND

Livability — Turtle Lake

• Score: 64/100
• State rank: #198
• US rank: #13852

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Turtle Lake, ND
• Population (ZIP): 904

Population outlook (McLean County) Hauer SSP2

• Today (2025): 11,405 people
• By 2030: 12,337 · +8.2%
• By 2040: 14,426 · +26.5%
• By 2050: 16,850 · +47.7%
• By 2075: 24,191 · +112.1%
• By 2100: 30,714 · +169.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 2% Hispanic / Latino 1% Asian 1%
• Common ancestry: Portuguese 17% Scottish 5% Estonian 3%
• Foreign-born: 5% · Canada
• Languages at home: 93% English-only · Other Indo-European 5% Spanish 1% German/W. Germanic 1%

Political lean MEDSL · McLean

• 2024 margin: Solid R (+58.1) · D 20.2% · R 78.4% · Other 1.4%
• 2008→2024 swing: -39.1pp toward R · 2008: -19.0pp · 2024: -58.1pp
• All cycles: 2024: R+58.1 2020: R+53.6 2016: R+53.0 2012: R+30.0 2008: R+19.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.38%
• Current HPI: 108.0978
• 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

-1.0% since first listed

3 events — show timeline

• 2026-04-10 Price Changed $99,000 GNMLS
• 2026-03-30 Listed $100,000 GNMLS
• 2018-09-25 Sold (Public Records) — Public Records

Property tax history

-27.2%/yr

Latest (2024): $12 · -97.6% YoY. Source: county tax records.