126 Main St · Lakota, ND 58344

$49,900

9 bd · 3.9 ba · 12,000 sqft · MultiFamily · 146 Days on market

Built 1950 6,000 sqft lot ↓ 50% since listing

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Appreciation +5.0/10.0
• Schools +4.6/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Key facts

• Four units
• Commercial space
• 6,000 sq ft lot

Tags

• FOUR UNITS
• COMMERCIAL SPACE

Property features AI

Finance

• Other:
• Financial info:
• HOA & community:

Exterior

• Parking:
• Security:
• Utilities: City water connected; City sewer connected; Natural gas
• Home design: Residential income property (apartment); Two levels
• Construction: Block foundation
• Exterior features: Stone exterior

Interior

• Kitchen:
• Bedrooms: 8 total bedrooms; Each unit is a 2-bedroom unit (4 units total)
• Flooring:
• Bathrooms: Each unit has 1 full bathroom
• Heating & cooling: Baseboard heating; Forced air heating
• Interior features: Block basement
• Laundry & utility:

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.3-bath units multifamily listed at $50k.

Deal economics

• At list price, monthly cash flow is $3k ($30k/yr) — positive. Per door: $838/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 76/100 on livability (#19 in ND, #3,699 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Lakota 66 (rural): math 55% / reading 50% proficiency, ranked #39 of 169 in ND (top 23%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Lakota Elementary School (math 54% / reading 44%, grade D, #65 of 236 statewide, top 37%, 117 students, 30% FRL); Lakota High School (math 24% / reading 64%, grade F, #33 of 144 statewide, top 32%, 67 students, 39% FRL).
• Market conditions: 3 active listings in the ZIP; 1 units permitted in Nelson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($345 loan paydown + $1k appreciation (3.0% local appreciation)).
• At projected returns (3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 146 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $43,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 146 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 7.25% ✓
• Cap rate: 66.77%
• Cash-on-cash: 216.00%
• DSCR: 10.61
• GRM: 1.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 12.90×
• Total profit: $166,244
• Equity at exit: $22,437

10-year hold

• IRR: —
• Equity multiple: 27.30×
• Total profit: $367,413
• Equity at exit: $34,578

Cash invested: $13,972 (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 58344

• Active inventory: 3
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $3,620 medium
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $748/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$760
• Net cashflow: $2,515

Break-even live

Break-even rent $437

Max offer price $49,900

Occupancy floor 26%

Sensitivity live

Price	-10% $2,549	-5% $2,532	+0% $2,515	+5% $2,498	+10% $2,480
Rent	-10% $2,229	-5% $2,372	+0% $2,515	+5% $2,658	+10% $2,801
Rate	-1.0pp $2,540	-0.5pp $2,528	base $2,515	+0.5pp $2,502	+1.0pp $2,489

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1.3	$3,621
Total (3 units)			$3,620

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $49,900 Active 146 DOM
2. 2026-06-21
   days on market $49,900 Active 145 DOM
3. 2026-06-18
   days on market $49,900 Active 143 DOM
4. 2026-06-17
   days on market $49,900 Active 142 DOM
5. 2026-06-16
   days on market $49,900 Active 141 DOM
6. 2026-06-15
   days on market $49,900 Active 140 DOM
7. 2026-06-13
   days on market $49,900 Active 138 DOM
8. 2026-06-12
   days on market $49,900 Active 137 DOM
9. 2026-06-09
   days on market $49,900 Active 134 DOM
10. 2026-06-08
    days on market $49,900 Active 133 DOM
11. 2026-06-07
    days on market $49,900 Active 132 DOM
12. 2026-06-05
    days on market $49,900 Active 130 DOM
13. 2026-06-04
    days on market $49,900 Active 128 DOM
14. 2026-06-02
    days on market $49,900 Active 127 DOM
15. 2026-06-01
    days on market $49,900 Active 126 DOM
16. 2026-05-31
    days on market $49,900 Active 125 DOM
17. 2026-05-22
    price $49,900
18. 2026-05-09
    price $79,900
19. 2026-04-13
    price $95,000
20. 2026-01-26
    listed $100,000 Active

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

Taxation est. · year 1

• Rental income: $43,440
• − Mortgage interest: −$2,795
• − Property taxes: −$748
• − Insurance: −$250
• − Repairs & maintenance: −$3,475
• − Management: −$3,475
• − Depreciation: −$1,452
• Taxable income: $31,245
• Est. tax owed @ 24.0%: −$7,499
• After-tax cash flow: $22,681/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: Lakota 66
• NCES district ID: 3810600
• Math proficiency: 55% ▲ 5.00%
• Reading proficiency: 50% ▬ 0.00%
• Median HH income: $46,679
• Composite: 46.47/100
• National rank: #5326
• State rank: #39 of 169 in ND

Livability — Lakota

• Score: 76/100
• State rank: #19
• US rank: #3699

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lakota, ND
• Population (ZIP): 1,004

Population outlook (Nelson County) Hauer SSP2

• Today (2025): 2,847 people
• By 2030: 2,797 · -1.8%
• By 2040: 2,737 · -3.9%
• By 2050: 2,854 · +0.2%
• By 2075: 3,790 · +33.1%
• By 2100: 5,304 · +86.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 6% Hispanic / Latino 4% Native American 2% Asian 1%
• Common ancestry: Portuguese 31% Scotch-Irish 4% Scottish 2%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Russian/Polish/Slavic 3% Spanish 2% Tagalog/Filipino 1%

Political lean MEDSL · Nelson

• 2024 margin: Solid R (+32.0) · D 33.0% · R 65.0% · Other 1.9%
• 2008→2024 swing: -38.1pp toward R · 2008: 6.1pp · 2024: -32.0pp
• All cycles: 2024: R+32.0 2020: R+31.2 2016: R+28.9 2012: R+5.8 2008: D+6.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

-50.1% since first listed

4 events — show timeline

• 2026-05-22 Price Changed $49,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-09 Price Changed $79,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-13 Price Changed $95,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-26 Listed $100,000 NORTHSTARMLS as Distributed by MLS Grid