305 Washington St · Noonan, ND 58765

$19,000

3 bd · 1.0 ba · 1,720 sqft · Other public records · 63 Days on market

Built 1915 0.32 ac lot

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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 +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 +3.4/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• 0.32 acre lot
• Garage
• Built 1915

Property features AI

Exterior

• Parking: Detached garage with 1 parking space; Additional off-street parking
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected; Cable available; Phone available; Natural gas not available
• Home design: Single family residence; One and one-half stories; Wood siding; Shingle roof
• Construction: Wood siding construction
• Exterior features: Porch; Shed(s)

Interior

• Flooring: Carpet; Hardwood; Laminate
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Basement with concrete floor, interior entry and unfinished space; Storage

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $19k.

Deal economics

• At list price, monthly cash flow is $983 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $19k).
• Recommended offer: $18k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 57/100 on livability (#308 in ND) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: employment D, health & safety D, schools F.
• Divide County 1 (rural): math 30% / reading 43% proficiency, ranked #121 of 169 in ND (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 8 active listings in the ZIP.

Forward outlook

• In year one you build about $701 of equity ($131 loan paydown + $570 appreciation (3.0% local appreciation)).
• Divide County population projected at +85% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $5k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($18k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $17,860 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 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 1915 — 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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
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 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: 7.39% ✓
• Cap rate: 68.40%
• Cash-on-cash: 221.80%
• DSCR: 10.87
• 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: 13.21×
• Total profit: $64,933
• Equity at exit: $8,543

10-year hold

• IRR: —
• Equity multiple: 27.96×
• Total profit: $143,414
• Equity at exit: $13,166

Cash invested: $5,320 (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 58765

• Active inventory: 8
• Price-to-rent: 1.1×

Monthly cashflow live

• Estimated rent: $1,403 medium
• Mortgage (P&I): −$100
• Tax from tax record: −$18 /mo · $213/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$295
• Net cashflow: $983

Break-even live

Break-even rent $159

Max offer price $19,000

Occupancy floor 25%

Sensitivity live

Price	-10% $994	-5% $989	+0% $983	+5% $978	+10% $973
Rent	-10% $872	-5% $928	+0% $983	+5% $1,039	+10% $1,094
Rate	-1.0pp $993	-0.5pp $988	base $983	+0.5pp $978	+1.0pp $973

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: $4,750
• Closing costs: $570
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-21
   days on market $19,000 Active 63 DOM
2. 2026-06-18
   days on market $19,000 Active 61 DOM
3. 2026-06-17
   days on market $19,000 Active 60 DOM
4. 2026-06-16
   days on market $19,000 Active 59 DOM
5. 2026-06-15
   days on market $19,000 Active 58 DOM
6. 2026-06-13
   days on market $19,000 Active 56 DOM
7. 2026-06-12
   days on market $19,000 Active 55 DOM
8. 2026-06-09
   days on market $19,000 Active 52 DOM
9. 2026-06-08
   days on market $19,000 Active 51 DOM
10. 2026-06-07
    days on market $19,000 Active 50 DOM
11. 2026-06-05
    days on market $19,000 Active 48 DOM
12. 2026-06-04
    days on market $19,000 Active 46 DOM
13. 2026-06-02
    days on market $19,000 Active 45 DOM
14. 2026-06-01
    days on market $19,000 Active 44 DOM
15. 2026-05-31
    days on market $19,000 Active 43 DOM
16. 2026-04-18
    listed $19,000 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: $213 · $18/mo
• Projected year-2 tax: $213 · $18/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 · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥93°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 8 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,839
• − Mortgage interest: −$1,064
• − Property taxes: −$213
• − Insurance: −$95
• − Repairs & maintenance: −$1,347
• − Management: −$1,347
• − Depreciation: −$553
• Taxable income: $12,220
• Est. tax owed @ 24.0%: −$2,933
• After-tax cash flow: $8,867/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: Divide County 1
• NCES district ID: 3805160
• Math proficiency: 30% ▼ -4.00%
• Reading proficiency: 43% ▼ -4.00%
• Median HH income: $52,720
• Composite: 34.4/100
• National rank: #10182
• State rank: #121 of 169 in ND

Livability — Noonan

• Score: 57/100
• State rank: #308
• US rank: #22022

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Noonan, ND
• Population (ZIP): 305

Population outlook (Divide County) Hauer SSP2

• Today (2025): 3,235 people
• By 2030: 3,697 · +14.3%
• By 2040: 4,763 · +47.2%
• By 2050: 5,975 · +84.7%
• By 2075: 9,534 · +194.7%
• By 2100: 12,784 · +295.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 10%
• Common ancestry: Portuguese 42% English 4% Italian 3%
• Foreign-born: 6% · Canada
• Languages at home: 99% English-only · Other Asian/Pacific 1%

Political lean MEDSL · Divide

• 2024 margin: Solid R (+55.4) · D 21.2% · R 76.5% · Other 2.3%
• 2008→2024 swing: -40.7pp toward R · 2008: -14.7pp · 2024: -55.4pp
• All cycles: 2024: R+55.4 2020: R+53.2 2016: R+52.0 2012: R+30.3 2008: R+14.7

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

1 event — show timeline

• 2026-04-18 Listed $19,000 GNMLS

Property tax history

-6.8%/yr

Latest (2024): $213 · -64.3% YoY. Source: county tax records.