611 5th Ave S · Grand Forks, ND 58201

$189,900

3 bd · 2.0 ba · 1,023 sqft · SingleFamily public records · 15 Days on market

Built 1898 7,560 sqft lot Est $256k · 26% under

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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).

• ARV discount +15.0/15.0
• Cash flow +13.6/30.0
• Rent growth +4.8/5.0
• DSCR +4.1/10.0
• Livability +3.9/5.0
• 1% rule +3.8/10.0
• Schools +3.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great starter home or investment property! This 3-bedroom, 2-bathroom home is conveniently located near downtown Grand Forks. Numerous updates, including newer shingles, windows, furnace, water heater, added insulation, and a radon mitigation system. The property features a 1-stall attached garage and a backyard storage shed. Move-in ready and full of potential!

Key facts

• Newer shingles
• Newer furnace
• Rich wood trim

Tags

• HARDWOOD FLOORS
• RICH WOOD TRIM
• CLAWFOOT TUB
• NEWER SHINGLES
• NEWER WINDOWS
• NEWER FURNACE

Property features AI

Exterior

• Parking: Attached garage with garage door opener (1 garage space)
• Utilities: Public water; Natural gas available
• Home design: Single-family residence; One and one-half story
• Construction: Vinyl siding; Built with standard foundation
• Exterior features: 54 x 140 lot (7,560 sq ft); Lot zoned R-1 Single Family

Interior

• Bathrooms: 1 full bathroom; 1 three-quarter bathroom
• Heating & cooling: Forced air heating (natural gas); Has cooling
• Interior features: Full basement; Total of 8 rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $12 ($145/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 $168k (11.7% below list).
• Recommended offer: $168k (11.7% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 2.2% in Grand Forks — 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 78/100 on livability (#8 in ND, #2,645 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, crime D+.
• Grand Forks 1 (urban): math 37% / reading 49% proficiency, ranked #27 of 53 in ND (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Phoenix Elementary School (math 37% / reading 42%, grade F, #137 of 236 statewide, top 63%, 260 students, 45% FRL); Valley Middle School (math 22% / reading 40%, grade F, #31 of 35 statewide, top 88%, 513 students, 56% FRL); Central High School (math 29% / reading 56%, grade F, #48 of 144 statewide, top 33%, 1,093 students, 32% FRL) — zoned schools average 45% FRL vs 29% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+9.3%/yr); 287 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 133 units permitted in Grand Forks County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Grand Forks County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1898 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $167,648 (11.7% below list)

Questions for the listing agent

1. Built in 1898 — 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. 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?
4. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. 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.
6. 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.
7. 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: 0.88% ✗
• Cap rate: 6.37%
• Cash-on-cash: 0.27%
• DSCR: 1.01
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $255,750
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
619 3rd Ave S	0.17mi	2/2.0 (-1)	1,040 (+2%)	2mo	$239,900	$231	83
621 Chestnut St	0.23mi	3/2.0	966 (-6%)	3mo	$285,000	$295	78
513 6th Ave S	0.11mi	3/1.0	1,080 (+6%)	7mo	$169,000	$156	76
217 Walnut St	0.22mi	4/2.0 (+1)	1,060 (+4%)	5mo	$289,900	$273	74
808 S 12th St	0.51mi	2/2.0 (-1)	1,043 (+2%)	1mo	$85,000	$81	68
1202 Cottonwood St	0.51mi	3/2.0	1,128 (+10%)	1mo	$299,900	$266	58
1009 S 11th St	0.52mi	3/2.0	952 (-7%)	8mo	$259,900	$273	58
1208 Walnut St	0.51mi	2/1.0 (-1)	920 (-10%)	0mo	$199,000	$216	50
1006 Walnut St	0.39mi	3/2.5	1,172 (+15%)	7mo	$249,250	$213	50
1201 University Ave	0.55mi	3/2.0	899 (-12%)	7mo	$225,000	$250	48
1425 Walnut St	0.73mi	4/3.0 (+1)	1,064 (+4%)	6mo	$319,900	$301	45
716 6th Ave N	0.70mi	2/1.0 (-1)	902 (-12%)	1mo	$189,999	$211	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -10.4%
• Equity multiple: 0.60×
• Total profit: $-21,119
• Equity at exit: $28,315

10-year hold

• IRR: 4.8%
• Equity multiple: 1.43×
• Total profit: $23,027
• Equity at exit: $16,419

Cash invested: $53,172 (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 58201

• Rents YoY: 9.3%
• Active inventory: 287
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,676 medium
• Mortgage (P&I): −$996
• Tax est. 1.5%: −$237 /mo · $2,848/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $12

Break-even live

Break-even rent $1,661

Max offer price $189,900

Occupancy floor 94%

Sensitivity live

Price	-10% $143	-5% $78	+0% $12	+5% $-54	+10% $-119
Rent	-10% $-120	-5% $-54	+0% $12	+5% $78	+10% $145
Rate	-1.0pp $108	-0.5pp $60	base $12	+0.5pp $-37	+1.0pp $-87

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
214 N 4th St Grand Forks, ND	3.0	1.0–2.0	974	$2,345	$2.41	45d	1	0.66mi

Listing history 19 events

1. 2026-06-13
   statusdays on market $189,900 Pending 15 DOM
2. 2026-06-10
   days on market $189,900 Active 13 DOM
3. 2026-06-09
   days on market $189,900 Active 12 DOM
4. 2026-06-08
   days on market $189,900 Active 11 DOM
5. 2026-06-07
   days on market $189,900 Active 10 DOM
6. 2026-06-05
   pricedays on market $189,900 Active 7 DOM
7. 2026-06-03
   days on market $199,900 Active 6 DOM
8. 2026-06-02
   days on market $199,900 Active 5 DOM
9. 2026-06-01
   days on market $199,900 Active 4 DOM
10. 2026-05-31
    days on market $199,900 Active 3 DOM
11. 2026-05-30
    days on market $199,900 Active 2 DOM
12. 2026-05-21
    listed $199,900 Active
13. 2025-07-31
    status Pending 364-char remark

    Show marketing remark (364 chars)

    Great starter home or investment property! This 3-bedroom, 2-bathroom home is conveniently located near downtown Grand Forks. Numerous updates, including newer shingles, windows, furnace, water heater, added insulation, and a radon mitigation system. The property features a 1-stall attached garage and a backyard storage shed. Move-in ready and full of potential!

14. 2025-07-31
    soldstatus Closed 364-char remark

    Show marketing remark (364 chars)

    Great starter home or investment property! This 3-bedroom, 2-bathroom home is conveniently located near downtown Grand Forks. Numerous updates, including newer shingles, windows, furnace, water heater, added insulation, and a radon mitigation system. The property features a 1-stall attached garage and a backyard storage shed. Move-in ready and full of potential!

15. 2025-07-31
    soldstatus

    Show marketing remark (364 chars)

    Great starter home or investment property! This 3-bedroom, 2-bathroom home is conveniently located near downtown Grand Forks. Numerous updates, including newer shingles, windows, furnace, water heater, added insulation, and a radon mitigation system. The property features a 1-stall attached garage and a backyard storage shed. Move-in ready and full of potential!

16. 2025-06-30
    historical Active Under Contract 364-char remark

    Show marketing remark (364 chars)

    Great starter home or investment property! This 3-bedroom, 2-bathroom home is conveniently located near downtown Grand Forks. Numerous updates, including newer shingles, windows, furnace, water heater, added insulation, and a radon mitigation system. The property features a 1-stall attached garage and a backyard storage shed. Move-in ready and full of potential!

17. 2025-06-26
    listed $150,000 Active 364-char remark

    Show marketing remark (364 chars)

    Great starter home or investment property! This 3-bedroom, 2-bathroom home is conveniently located near downtown Grand Forks. Numerous updates, including newer shingles, windows, furnace, water heater, added insulation, and a radon mitigation system. The property features a 1-stall attached garage and a backyard storage shed. Move-in ready and full of potential!

18. 2017-03-14
    listed $119,900
19. 1997-09-02
    soldstatus

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥96°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,118
• − Mortgage interest: −$10,637
• − Property taxes: −$2,848
• − Insurance: −$950
• − Repairs & maintenance: −$1,609
• − Management: −$1,609
• − Depreciation: −$5,524
• Taxable loss: −$3,061
• Est. tax savings @ 24.0%: +$735
• After-tax cash flow: $879/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: Grand Forks 1
• NCES district ID: 3808130
• Math proficiency: 37% ▼ -8.00%
• Reading proficiency: 49% ▲ 1.00%
• Median HH income: $44,234
• Composite: 36.39/100
• National rank: #4681
• State rank: #27 of 53 in ND

Livability — Grand Forks

• Score: 78/100
• State rank: #8
• US rank: #2645

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Grand Forks, ND
• County: Grand Forks County · 58,851 people
• City population: 58,851
• Metro: Grand Forks, ND-MN
• Population (ZIP): 42,373
• Household income: $68,143
• Rent vs Own: 50.3% rent · 49.7% own
• Severe rent burden: 2110.0

Population outlook (Grand Forks County) Hauer SSP2

• Today (2025): 80,606 people
• By 2030: 86,489 · +7.3%
• By 2040: 99,506 · +23.4%
• By 2050: 115,269 · +43.0%
• By 2075: 171,303 · +112.5%
• By 2100: 238,330 · +195.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 7% Hispanic / Latino 5% Black 4% Asian 2% Native American 2%
• Common ancestry: Portuguese 26% Romanian 4% Lithuanian 3%
• Foreign-born: 5% · Canada, South Korea, China
• Languages at home: 93% English-only · Spanish 1% Other Indo-European 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Grand Forks

• 2024 margin: R (+18.2) · D 40.1% · R 58.3% · Other 1.6%
• 2008→2024 swing: -23.3pp toward R · 2008: 5.1pp · 2024: -18.2pp
• All cycles: 2024: R+18.2 2020: R+13.3 2016: R+18.5 2012: R+3.5 2008: D+5.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -197.56%
• Current HPI: 183.128
• Rent YoY: ▲ 9.31%
• Metro: Grand Forks, 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

+66.7% since first listed

8 events — show timeline

• 2026-05-21 Listed $199,900 GFAAR
• 2025-07-31 Pending — GFAAR
• 2025-07-31 Sold (Public Records) — Public Records
• 2025-07-31 Sold (MLS) — GFAAR
• 2025-06-30 Contingent — GFAAR
• 2025-06-26 Listed $150,000 GFAAR
• 2017-03-14 Listed $119,900 GFAAR
• 1997-09-02 Sold (Public Records) — Public Records

Property tax history

-23.6%/yr

Latest (2025): $48 · +1159.1% YoY. Source: county tax records.