411 5th Ave S · Wahpeton, ND 58075

$99,000

2 bd · 2.0 ba · 1,976 sqft · SingleFamily public records · 32 Days on market

Built 1947 2,352 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 +19.3/30.0
• ARV discount +7.5/15.0
• DSCR +6.1/10.0
• 1% rule +5.4/10.0
• Schools +3.9/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• 2,352 sq ft lot
• 2 garage spots
• Built 1947

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: City water; City sewer; Electric service with circuit breakers and fuses (100 amp); Oil fuel
• Home design: Residential property; One story; Main level entry
• Construction: Poured concrete foundation; Asphalt roof
• Exterior features: Lot approximately 0.054 acres (95 x 75)

Interior

• Kitchen: Range; Microwave; Refrigerator; Freezer
• Bedrooms: 2 bedrooms (both on the main level)
• Bathrooms: 2 three-quarter bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Full basement; Breezeway; Dining room; Living room
• Laundry & utility: Laundry room; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $109 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Recommended offer: $96k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 1.8% in Wahpeton — 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 67/100 on livability (#124 in ND) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, health & safety D+, employment D.
• Wahpeton 37 (town): math 46% / reading 44% proficiency, ranked #23 of 53 in ND (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 104 active listings in the ZIP; 38 units permitted in Richland County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Richland County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($96k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $96,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 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 1947 — 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 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: 1.04% ✓
• Cap rate: 7.61%
• Cash-on-cash: 4.70%
• DSCR: 1.21
• GRM: 8.0

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: -8.9%
• Equity multiple: 0.67×
• Total profit: $-9,095
• Equity at exit: $14,761

10-year hold

• IRR: 0.6%
• Equity multiple: 1.04×
• Total profit: $1,109
• Equity at exit: $8,560

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 58075

• Home prices YoY: -17.4%
• Active inventory: 104
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,033 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$147 /mo · $1,765/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$217
• Net cashflow: $109

Break-even live

Break-even rent $896

Max offer price $99,000

Occupancy floor 84%

Sensitivity live

Price	-10% $165	-5% $137	+0% $109	+5% $81	+10% $53
Rent	-10% $27	-5% $68	+0% $109	+5% $149	+10% $190
Rate	-1.0pp $158	-0.5pp $134	base $109	+0.5pp $83	+1.0pp $57

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 7 events

1. 2026-06-03
   status $99,000 Pending 32 DOM
2. 2026-06-02
   days on market $99,000 Contingent - Subject to Financing 32 DOM
3. 2026-06-01
   days on market $99,000 Contingent - Subject to Financing 31 DOM
4. 2026-05-31
   days on market $99,000 Contingent - Subject to Financing 30 DOM
5. 2026-05-31
   days on market $99,000 Contingent - Subject to Financing 29 DOM
6. 2026-05-06
   historical Contingent - Inspection
7. 2026-05-01
   listed $99,000 Active

ⓘ 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: $1,765 · $147/mo
• Projected year-2 tax: $1,765 · $147/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°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: $12,397
• − Mortgage interest: −$5,546
• − Property taxes: −$1,765
• − Insurance: −$495
• − Repairs & maintenance: −$992
• − Management: −$992
• − Depreciation: −$2,880
• Taxable loss: −$272
• Est. tax savings @ 24.0%: +$65
• After-tax cash flow: $1,369/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: Wahpeton 37
• NCES district ID: 3819020
• Math proficiency: 46% ▲ 10.00%
• Reading proficiency: 44% ▲ 4.00%
• Median HH income: $49,234
• Composite: 38.58/100
• National rank: #4166
• State rank: #23 of 53 in ND

Livability — Wahpeton

• Score: 67/100
• State rank: #124
• US rank: #10388

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: Wahpeton, ND
• County: Richland County · 9,046 people
• City population: 9,046
• Metro: Wahpeton, ND-MN
• Population (ZIP): 9,046
• Household income: $68,537
• Rent vs Own: 47.3% rent · 52.7% own
• Severe rent burden: 362.0

Population outlook (Richland County) Hauer SSP2

• Today (2025): 16,847 people
• By 2030: 17,137 · +1.7%
• By 2040: 17,673 · +4.9%
• By 2050: 18,382 · +9.1%
• By 2075: 22,912 · +36.0%
• By 2100: 28,612 · +69.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 4% Native American 4% Two or more races 4% Black 1%
• Common ancestry: Portuguese 21% Lithuanian 3% Romanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Richland

• 2024 margin: Solid R (+37.9) · D 30.2% · R 68.0% · Other 1.8%
• 2008→2024 swing: -32.7pp toward R · 2008: -5.1pp · 2024: -37.9pp
• All cycles: 2024: R+37.9 2020: R+32.8 2016: R+36.1 2012: R+13.6 2008: R+5.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -50.35%
• Current HPI: 239.4167
• Rent YoY: —
• Metro: Wahpeton, 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

2 events — show timeline

• 2026-05-06 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-01 Listed $99,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+6.6%/yr

Latest (2025): $1,765 · +218.1% YoY. Source: county tax records.