1108 Forest St · Lisbon, ND 58054

$89,000

2 bd · 2.0 ba · 1,019 sqft · Other · 9 Days on market

Built 1940 7,230 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 +21.2/30.0
• ARV discount +7.5/15.0
• DSCR +6.8/10.0
• 1% rule +5.7/10.0
• Schools +4.1/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Newer metal roof and some updating in this 2br/2b home on Forest Street. Will be a nice home or investment property. Seller is including a 1 yr APHW Home Warranty. Nice big back yard with no alley. LP furnace and LP Water Heater. Includes 1 wall a/c and 1 window a/c. Buyer/Buyer agent to confirm boundaries, measurements, flood status and condition. Showings through Showing Time only. Ready to move into, call Wes today!

Key facts

• Home warranty
• New furnace
• Metal roof

Tags

• NEW FURNACE
• METAL ROOF
• HOME WARRANTY
• DECK
• INCLUDED APPLIANCES

Property features AI

Finance

• Other: Lot size approximately 0.166 acres (50 x 140)
• Financial info: Conventional mortgage financing available

Exterior

• Parking: Concrete parking
• Utilities: City water (in street); City sewer (in street); Propane fuel; Electric with circuit breakers
• Home design: Residential property; One story; Entry and main living on one level
• Construction: Frame construction; Metal roof; Block foundation; Built with a partial, block crawl-space basement
• Exterior features: Deck; Wood exterior

Interior

• Kitchen: Range; Refrigerator; Dishwasher
• Bedrooms: 2 bedrooms (both on the main level)
• Bathrooms: 1 full bath on the main level; 1 three-quarter bath on the main level
• Heating & cooling: Forced air heating; Wall cooling unit(s)
• Interior features: All living facilities on one level; Main floor bedroom; Main floor laundry; Breakfast bar
• Laundry & utility: Main level laundry room; Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $89k.

Deal economics

• At list price, monthly cash flow is $129 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($948 rent vs $89k).

Location & tenants

• Location reads 70/100 on livability (#73 in ND) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, health & safety D+, amenities F.
• Lisbon 19 (rural): math 46% / reading 49% proficiency, ranked #15 of 53 in ND (top 28%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 17% free/reduced lunch — higher-income household profile.
• Zoned schools: Lisbon High School (math 34% / reading 54%, grade F, #33 of 144 statewide, top 32%, 207 students, 21% FRL) — zoned schools at 21% FRL track the district average.
• Market conditions: 16 active listings in the ZIP; 3 units permitted in Ransom County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $615 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $89,000

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.07% ✓
• Cap rate: 8.03%
• Cash-on-cash: 6.21%
• DSCR: 1.28
• GRM: 7.8

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: -6.7%
• Equity multiple: 0.75×
• Total profit: $-6,196
• Equity at exit: $13,270

10-year hold

• IRR: 2.9%
• Equity multiple: 1.21×
• Total profit: $5,245
• Equity at exit: $7,695

Cash invested: $24,920 (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 58054

• Active inventory: 16
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $948 medium
• Mortgage (P&I): −$467
• Tax from tax record: −$116 /mo · $1,394/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$199
• Net cashflow: $129

Break-even live

Break-even rent $785

Max offer price $89,000

Occupancy floor 81%

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-05-24
   status Pending
2. 2026-05-14
   listed $89,000 Active
3. 2024-07-04
   historical
4. 2024-06-19
   price $75,000
5. 2024-04-26
   price $78,000
6. 2024-01-03
   listed $80,000 Active
7. 2023-03-20
   soldstatus $79,800
8. 2023-03-14
   soldstatus $79,800 429-char remark

   Show marketing remark (429 chars)

   Newer metal roof and some updating in this 2br/2b home on Forest Street. Will be a nice home or investment property. Seller is including a 1 yr APHW Home Warranty. Nice big back yard with no alley. LP furnace and LP Water Heater. Includes 1 wall a/c and 1 window a/c. Buyer/Buyer agent to confirm boundaries, measurements, flood status and condition. Showings through Showing Time only. Ready to move into, call Wes today!

9. 2023-02-17
   listed $79,800 429-char remark

   Show marketing remark (429 chars)

   Newer metal roof and some updating in this 2br/2b home on Forest Street. Will be a nice home or investment property. Seller is including a 1 yr APHW Home Warranty. Nice big back yard with no alley. LP furnace and LP Water Heater. Includes 1 wall a/c and 1 window a/c. Buyer/Buyer agent to confirm boundaries, measurements, flood status and condition. Showings through Showing Time only. Ready to move into, call Wes today!

10. 2013-01-29
    soldstatus $4,200

ⓘ 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: $1,394 · $116/mo
• Projected year-2 tax: $1,394 · $116/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $11,375
• − Mortgage interest: −$4,985
• − Property taxes: −$1,394
• − Insurance: −$445
• − Repairs & maintenance: −$910
• − Management: −$910
• − Depreciation: −$2,589
• Taxable income: $142
• Est. tax owed @ 24.0%: −$34
• After-tax cash flow: $1,513/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: Lisbon 19
• NCES district ID: 3811430
• Math proficiency: 46% ▲ 2.00%
• Reading proficiency: 49% ▲ 1.00%
• Median HH income: $53,438
• Composite: 41.04/100
• National rank: #3582
• State rank: #15 of 53 in ND

Livability — Lisbon

• Score: 70/100
• State rank: #73
• US rank: #7461

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lisbon, ND
• Population (ZIP): 3,332

Population outlook (Ransom County) Hauer SSP2

• Today (2025): 5,517 people
• By 2030: 5,534 · +0.3%
• By 2040: 5,574 · +1.0%
• By 2050: 5,654 · +2.5%
• By 2075: 6,316 · +14.5%
• By 2100: 6,749 · +22.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 5% Hispanic / Latino 1% Black 1%
• Common ancestry: Portuguese 33% Lithuanian 3% Iranian 1%
• Foreign-born: 2% · China
• Languages at home: 96% English-only · Russian/Polish/Slavic 1% Spanish 1% Other Indo-European 1%

Political lean MEDSL · Ransom

• 2024 margin: Strong R (+28.2) · D 35.0% · R 63.1% · Other 1.9%
• 2008→2024 swing: -43.5pp toward R · 2008: 15.3pp · 2024: -28.2pp
• All cycles: 2024: R+28.2 2020: R+19.3 2016: R+16.1 2012: D+13.8 2008: D+15.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -77.34%
• Current HPI: 110.413
• 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

+2019.0% since first listed

10 events — show timeline

• 2026-05-24 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-14 Listed $89,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-07-04 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2024-06-19 Price Changed $75,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-04-26 Price Changed $78,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-01-03 Listed $80,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-03-20 Sold (Public Records) $79,800 Public Records
• 2023-03-14 Sold (MLS) $79,800 NORTHSTARMLS as Distributed by MLS Grid
• 2023-02-17 Listed $79,800 NORTHSTARMLS as Distributed by MLS Grid
• 2013-01-29 Sold (Public Records) $4,200 Public Records

Property tax history

+1.3%/yr

Latest (2025): $1,394 · +9.9% YoY. Source: county tax records.