1009 8th St · Portland, ND 58274

$135,000

3 bd · 2.0 ba · 1,080 sqft · SingleFamily · 7 Days on market

Built 1955 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 +9.5/30.0
• Appreciation +7.6/10.0
• ARV discount +7.5/15.0
• Schools +4.0/10.0
• Livability +3.5/5.0
• DSCR +2.7/10.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• Large corner lot
• Attached garage
• Single-level living

Tags

• SINGLE-LEVEL LIVING
• FUNCTIONAL FLOOR PLAN
• LARGE CORNER LOT
• ATTACHED GARAGE
• IMMEDIATE INCOME POTENTIAL

Property features AI

Exterior

• Parking: Attached garage with two spaces (27x26)
• Utilities: City water connected; City sewer connected; Natural gas
• Home design: Residential property; One story; Entry level: Main
• Construction: Block foundation; Foundation dimensions 45x24; Built area includes above- and below-grade levels
• Exterior features: Metal exterior

Interior

• Kitchen: Range; Refrigerator; Dishwasher
• Bedrooms: Three bedrooms on the main level
• Bathrooms: One full bathroom on the main level; One half bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Main-floor dining area; Main-floor living room; Main-floor full bathroom; Full basement
• Laundry & utility: Washer; Dryer; Laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $-93 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $119k (12.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $102k (24.5% below list).
• Recommended offer: $102k (24.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 69/100 on livability (#96 in ND) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A-; Watch: health & safety D+, amenities F, commute F.
• May-Port Cg 14 (rural): math 42% / reading 50% proficiency, ranked #19 of 53 in ND (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 20% free/reduced lunch — higher-income household profile.
• Zoned schools: Peter Boe Jr Elementary School (math 52% / reading 57%, grade C, #39 of 236 statewide, top 21%, 262 students, 21% FRL); May-Port Cg Middle School (math 32% / reading 37%, grade F, #24 of 35 statewide, top 71%, 114 students, 18% FRL); May-Port Cg High School (math 24% / reading 64%, grade F, #33 of 144 statewide, top 32%, 132 students, 18% FRL) — zoned schools at 19% FRL track the district average.
• Market conditions: 3 active listings in the ZIP; 8 units permitted in Traill County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($933 loan paydown + $7k appreciation (5.2% local appreciation)).
• Traill County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 5, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $101,892 (24.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1955 — 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. 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?
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: 0.75% ✗
• Cap rate: 5.46%
• Cash-on-cash: -2.96%
• DSCR: 0.87
• GRM: 11.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.15% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.8%
• Equity multiple: 1.70×
• Total profit: $26,332
• Equity at exit: $77,737

10-year hold

• IRR: 12.1%
• Equity multiple: 3.23×
• Total profit: $84,216
• Equity at exit: $135,195

Cash invested: $37,800 (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 58274

• Home prices YoY: 4.2%
• Active inventory: 3
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $1,019 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$134 /mo · $1,608/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$214
• Net cashflow: $-93

Break-even live

Break-even rent $1,137

Max offer price $118,530

Occupancy floor —

Sensitivity live

Price	-10% $-17	-5% $-55	+0% $-93	+5% $-131	+10% $-170
Rent	-10% $-174	-5% $-133	+0% $-93	+5% $-53	+10% $-13
Rate	-1.0pp $-25	-0.5pp $-59	base $-93	+0.5pp $-128	+1.0pp $-164

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-08
   days on market $135,000 Active 7 DOM
2. 2026-06-07
   days on market $135,000 Active 6 DOM
3. 2026-06-05
   days on market $135,000 Active 4 DOM
4. 2026-06-04
   days on market $135,000 Active 2 DOM
5. 2026-06-02
   listed $135,000 Active 1 DOM

ⓘ 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: $1,608 · $134/mo
• Projected year-2 tax: $1,608 · $134/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 ≥98°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,227
• − Mortgage interest: −$7,562
• − Property taxes: −$1,608
• − Insurance: −$675
• − Repairs & maintenance: −$978
• − Management: −$978
• − Depreciation: −$3,927
• Taxable loss: −$3,501
• Est. tax savings @ 24.0%: +$840
• After-tax cash flow: $-278/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: May-Port Cg 14
• NCES district ID: 3800041
• Math proficiency: 42% ▼ -8.00%
• Reading proficiency: 50% ▼ -7.00%
• Median HH income: $50,978
• Composite: 39.53/100
• National rank: #3944
• State rank: #19 of 53 in ND

Livability — Portland

• Score: 69/100
• State rank: #96
• US rank: #8317

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Portland, ND
• Population (ZIP): 895

Population outlook (Traill County) Hauer SSP2

• Today (2025): 8,107 people
• By 2030: 8,099 · -0.1%
• By 2040: 8,151 · +0.5%
• By 2050: 8,384 · +3.4%
• By 2075: 9,868 · +21.7%
• By 2100: 12,181 · +50.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 3% Native American 3% Two or more races 2%
• Common ancestry: Portuguese 46% Scottish 5% Iranian 2%
• Languages at home: 99% English-only · Other Indo-European 1%

Political lean MEDSL · Traill

• 2024 margin: Solid R (+31.6) · D 33.3% · R 65.0% · Other 1.7%
• 2008→2024 swing: -38.8pp toward R · 2008: 7.2pp · 2024: -31.6pp
• All cycles: 2024: R+31.6 2020: R+24.9 2016: R+26.5 2012: R+4.7 2008: D+7.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.15%
• Current HPI: 127.9784
• 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

• 2026-06-01 Listed $135,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+6.1%/yr

Latest (2025): $1,608 · -31.6% YoY. Source: county tax records.