7755 34th St SE

Jamestown, ND 58401

$120,000D

2 bd · 2.0 ba · 1,200 sqft · Built 1920 · Other · Pending · 39 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $991/mo
• Mortgage (P&I): −$629
• Tax + insurance: −$110
• HOA: −$0
• Vac / Maint / Mgmt: −$208
• Net cashflow: $44/mo
• Annual: $530/yr
• Cap rate: 6.73%
• Cash-on-cash: 1.58%
• DSCR: 1.07
• 1% rule: 0.83%
• Cash to close: $33,600

Investor read

• This is a 2-bed/2.0-bath other listed at $120k.
• At list price, monthly cash flow is $44 ($530/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 $99k (17.4% below list).
• It's been on market 39 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $99k (17.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#35 in ND) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: employment D+, health & safety D+, amenities F.
• Jamestown 1 (town): math 45% / reading 52% proficiency, ranked #14 of 53 in ND (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Jamestown Middle School (math 44% / reading 54%, grade C-, #8 of 35 statewide, top 21%, 475 students, 31% FRL); Jamestown High School (math 27% / reading 62%, grade F, #33 of 144 statewide, top 32%, 777 students, 21% FRL) — zoned schools at 26% FRL track the district average.
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+3.7%/yr); 98 active listings in the ZIP; 19 units permitted in Stutsman County in 2024 (0 in 5+ unit buildings).
• Stutsman County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts since 4y 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.
• Current owner paid $85k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Cap rate 6.7% vs local median 3.2% in Jamestown — 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.

Questions for listing agent

• It's been on market 39 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
• Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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?
• 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.