Glenborough Plan · Bismarck, ND 58503

$190,000

2 bd · 1.5 ba · 1,221 sqft · Townhouse · 192 Days on market

Poor condition

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Why this score? — see what drove the F 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 +7.5/15.0
• Schools +5.1/10.0
• Rent growth +5.0/5.0
• Livability +4.0/5.0
• Cash flow +3.0/30.0
• Condition / age +1.0/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Key facts

• Car wash bay
• Guest suite
• Garden plots

Tags

• ONE-LEVEL LIVING SPACE
• GUEST SUITE
• GARDEN PLOTS
• UNDERGROUND HEATED PARKING
• CAR WASH BAY
• FULLY SECURE BUILDING

🏗️ New construction. The $190,000 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $331,978.

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath townhouse listed at $190k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $-1k ($-13k/yr) — negative.
• To cash-flow at today's rent, offer at most $176k (7.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $154k (18.9% below list).
• Recommended offer: $154k (18.9% below list) — sets the bar for 1% rule.
• Cap rate 2.4% vs local median 3.1% in Bismarck — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 79/100 on livability (#5 in ND, #2,213 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: crime C-, amenities D+, commute F.
• Bismarck 1 (urban): math 41% / reading 42% proficiency, ranked #25 of 53 in ND (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 19% free/reduced lunch — higher-income household profile.
• Zoned schools: Liberty Elementary School (math 57% / reading 49%, grade C, #52 of 236 statewide, top 22%, 496 students, 5% FRL); Horizon Middle School (math 42% / reading 50%, grade D+, #13 of 35 statewide, top 35%, 1,044 students, 14% FRL); Century High School (math 43% / reading 63%, grade C-, #14 of 144 statewide, top 9%, 1,427 students, 12% FRL).
• Market conditions: Rents rising fast (+11.8%/yr); 587 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 71d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 259 units permitted in Burleigh County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Burleigh County population projected at +61% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 192 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price.

Recommended offer $154,058 (18.9% 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. It's been on market 192 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.46% ✗
• Cap rate: 2.40%
• Cash-on-cash: -13.91%
• DSCR: 0.38
• GRM: 18.0

CMA / ARV

• ARV (median comp): $331,978
• List price: $190,000
• Delta: -42.77%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
829 Canada Ave #27	0.76mi	2/1.0	1,216 (-0%)	0mo	$202,000	$166	62
3719 Coleman St	1.03mi	2/2.0	1,184 (-3%)	2mo	$344,900	$291	56
829 Canada Ave #10	0.76mi	2/2.0	1,190 (-2%)	6mo	$220,000	$185	54
916 Lambton Ave #1	0.97mi	2/2.0	1,184 (-3%)	6mo	$239,900	$203	53
713 Bremner Ave	0.63mi	2/2.0	1,334 (+9%)	2mo	$375,000	$281	51
4916 Ottawa St #5	0.94mi	2/2.0	1,145 (-6%)	3mo	$215,000	$188	50
1123 E Lasalle Dr E	0.96mi	2/2.0	1,148 (-6%)	9mo	$214,900	$187	46
1117 Lasalle Dr E #6	0.97mi	2/2.0	1,154 (-6%)	10mo	$206,500	$179	45
1117 E Lasalle Dr #5	0.97mi	2/2.0	1,150 (-6%)	12mo	$206,000	$179	43
809 Canada Ave	0.71mi	3/2.0 (+1)	1,123 (-8%)	8mo	$275,000	$245	40
823 Canada Ave	0.75mi	3/2.0 (+1)	1,123 (-8%)	13mo	$295,000	$263	34
4010 Lockport St	1.11mi	3/2.0 (+1)	1,399 (+15%)	8mo	$322,500	$231	27

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: -37.5%
• Equity multiple: -0.23×
• Total profit: $-114,235
• Equity at exit: $49,499

10-year hold

• IRR: -30.0%
• Equity multiple: -0.62×
• Total profit: $-150,664
• Equity at exit: $28,703

Cash invested: $92,954 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 13 active · 3 under contract
• Months of supply: 13.0 mo (8%/mo absorbed)
• Median asking: $207,000 ($156/sqft)
• Median days on market: 192 d
• This list price: 15% of active listings are priced below it
• ARV vs active asking: +74.8% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 58503

• Home prices YoY: -25.6%
• Rents YoY: 11.8%
• Active inventory: 587
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,541 high
• Mortgage (P&I): −$1,741
• Tax est. 1.5%: −$415 /mo · $4,980/yr
• Insurance: −$138
• HOA: −$0
• Vacancy / Maint / Mgmt: −$324
• Net cashflow: $-1,077

Break-even live

Break-even rent $2,904

Max offer price $176,110

Occupancy floor —

Sensitivity live

Price	-10% $-848	-5% $-962	+0% $-1,077	+5% $-1,192	+10% $-1,307
Rent	-10% $-1,199	-5% $-1,138	+0% $-1,077	+5% $-1,016	+10% $-955
Rate	-1.0pp $-910	-0.5pp $-993	base $-1,077	+0.5pp $-1,163	+1.0pp $-1,251

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: $82,994
• Closing costs: $9,959
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4201 Montreal St Bismarck, ND	1.0–3.0	1.0–2.0	1092	$1,586	$1.45	70d	15	0.55mi
4126A Normandy St Bismarck, ND	2.0	1.5	1468	$1,750	$1.19	70d	1	0.69mi
220 E Greenfield Ln Unit B-402 Bismarck, ND	2.0	2.0	1141	$1,661	$1.46	70d	1	0.81mi
220 E Greenfield Ln Unit B-403 Bismarck, ND	1.0	1.0	763	$1,336	$1.75	70d	1	0.81mi
226 E Greenfield Ln Unit A-406 Bismarck, ND	2.0	2.0	867	$1,486	$1.71	70d	1	0.81mi
444 E Brandon Dr Bismarck, ND	2.0–3.0	2.0	900	$1,110	$1.23	70d	1	1.16mi

Property features AI

Finance

• Financial info: List price $190,000

Exterior

• Home design: Plan model home (Glenborough)Single‑level plan
• Exterior features: Located at N Washington Street and Medora Ave, Bismarck

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom and 1 half bathroom
• Interior features: Plan is the Glenborough model

Listing history 50 events

1. 2026-08-08
   days on market $190,000 Active 192 DOM
2. 2026-08-07
   days on market $190,000 Active 191 DOM
3. 2026-08-06
   days on market $190,000 Active 190 DOM
4. 2026-08-05
   days on market $190,000 Active 189 DOM
5. 2026-08-04
   days on market $190,000 Active 188 DOM
6. 2026-08-03
   days on market $190,000 Active 187 DOM
7. 2026-07-31
   days on market $190,000 Active 184 DOM
8. 2026-07-30
   days on market $190,000 Active 183 DOM
9. 2026-07-29
   days on market $190,000 Active 182 DOM
10. 2026-07-27
    days on market $190,000 Active 180 DOM
11. 2026-07-25
    days on market $190,000 Active 178 DOM
12. 2026-07-24
    days on market $190,000 Active 177 DOM
13. 2026-07-23
    days on market $190,000 Active 176 DOM
14. 2026-07-22
    days on market $190,000 Active 175 DOM
15. 2026-07-21
    days on market $190,000 Active 174 DOM
16. 2026-07-18
    days on market $190,000 Active 171 DOM
17. 2026-07-16
    days on market $190,000 Active 169 DOM
18. 2026-07-16
    days on market $190,000 Active 168 DOM
19. 2026-07-14
    days on market $190,000 Active 167 DOM
20. 2026-07-13
    days on market $190,000 Active 166 DOM
21. 2026-07-12
    days on market $190,000 Active 165 DOM
22. 2026-07-11
    days on market $190,000 Active 164 DOM
23. 2026-07-10
    days on market $190,000 Active 163 DOM
24. 2026-07-09
    days on market $190,000 Active 162 DOM
25. 2026-07-08
    days on market $190,000 Active 161 DOM
26. 2026-07-07
    days on market $190,000 Active 160 DOM
27. 2026-07-06
    days on market $190,000 Active 159 DOM
28. 2026-07-05
    days on market $190,000 Active 158 DOM
29. 2026-07-04
    days on market $190,000 Active 157 DOM
30. 2026-07-03
    days on market $190,000 Active 156 DOM
31. 2026-07-02
    days on market $190,000 Active 155 DOM
32. 2026-07-01
    days on market $190,000 Active 154 DOM
33. 2026-06-30
    days on market $190,000 Active 153 DOM
34. 2026-06-29
    days on market $190,000 Active 152 DOM
35. 2026-06-28
    days on market $190,000 Active 151 DOM
36. 2026-06-28
    days on market $190,000 Active 150 DOM
37. 2026-06-27
    days on market $190,000 Active 149 DOM
38. 2026-06-25
    days on market $190,000 Active 147 DOM
39. 2026-06-23
    days on market $190,000 Active 145 DOM
40. 2026-06-21
    days on market $190,000 Active 144 DOM
41. 2026-06-19
    days on market $190,000 Active 142 DOM
42. 2026-06-18
    days on market $190,000 Active 141 DOM
43. 2026-06-17
    days on market $190,000 Active 140 DOM
44. 2026-06-16
    days on market $190,000 Active 139 DOM
45. 2026-06-15
    days on market $190,000 Active 138 DOM
46. 2026-06-14
    days on market $190,000 Active 136 DOM
47. 2026-06-13
    days on market $190,000 Active 135 DOM
48. 2026-06-10
    days on market $190,000 Active 133 DOM
49. 2026-06-09
    days on market $190,000 Active 132 DOM
50. 2026-06-08
    days on market $190,000 Active 131 DOM

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,487
• − Mortgage interest: −$18,596
• − Property taxes: −$4,980
• − Insurance: −$1,660
• − Repairs & maintenance: −$1,479
• − Management: −$1,479
• − Depreciation: −$9,658
• Taxable loss: −$19,364
• Est. tax savings @ 24.0%: +$4,647
• After-tax cash flow: $-8,279/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.

Condition & rehab AI · 2 photos

Poor 20/100 Extensive rehab Est. rehab $61,050–$109,890 screening

This property requires extensive repairs and updates across all systems and areas, significantly impacting its current condition and value. Significant improvements are needed to bring the property up to a livable and marketable standard.

Repairs flagged

• Major roof — No visible roof structure or condition.
• Major exterior — No visible siding or paint condition.
• Major flooring — No visible flooring condition.
• Major interior walls/paint — No visible interior walls or paint condition.
• Major bathrooms — No visible bathrooms.
• Major kitchen — No visible kitchen.
• Major systems — No visible HVAC/mechanicals.
• Major landscaping/curb appeal — No visible landscaping or curb appeal.

Value-add opportunities

• Both roof replacement — A new roof would significantly improve the home's appearance and value. ↑
• Both exterior siding and paint — New siding and paint would enhance curb appeal and value. ↑
• Both flooring replacement — New flooring would improve the home's condition and value. ↑
• Both interior wall and paint updates — Fresh paint and updated walls would improve the home's condition and value. ↑
• Both bathroom updates — Modern bathrooms would enhance the home's condition and value. ↑
• Both kitchen updates — A new kitchen would significantly improve the home's condition and value. ↑
• Both HVAC/mechanical updates — Upgraded HVAC and mechanical systems would improve the home's condition and value. ↑
• Both landscaping and curb appeal — A well-maintained landscape would enhance the home's curb appeal and value. ↑

ⓘ Rehab cost is a screening estimate — Extensive scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 51/100

Zoned Schools

Elementary Liberty Elementary School C ND #52/236 Nat'l #10,986/41,679 Middle Horizon Middle School D+ ND #13/35 Nat'l #4,433/14,009 High Century High School C- ND #14/144 Nat'l #4,893/17,239

Schools (NCES district)

• District: Bismarck 1
• NCES district ID: 3800014
• Math proficiency: 41% ▼ -5.00%
• Reading proficiency: 42% ▼ -6.00%
• Median HH income: $60,649
• Composite: 36.76/100
• National rank: #4577
• State rank: #25 of 53 in ND

B Composite livability gradescore 79/100

Livability — Bismarck

• Score: 79/100
• State rank: #5
• US rank: #2213

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bismarck, ND
• County: Burleigh County · 119,359 people
• City population: 97,300
• Metro: Bismarck, ND
• Population (ZIP): 37,683
• Household income: $102,333
• Rent vs Own: 25.7% rent · 74.3% own
• Severe rent burden: 5% of renters

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Population outlook (Burleigh County) Hauer SSP2

• Today (2025): 119,359 people
• By 2030: 133,047 · +11.5%
• By 2040: 161,545 · +35.3%
• By 2050: 191,960 · +60.8%
• By 2075: 274,569 · +130.0%
• By 2100: 350,910 · +194.0%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 6% Hispanic / Latino 2% Asian 2% Black 1%
• Common ancestry: Portuguese 17% Scotch-Irish 4% Scottish 2%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · German/W. Germanic 2% Spanish 1% Tagalog/Filipino 1%

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Political lean MEDSL · Burleigh

• 2024 margin: Solid R (+43.2) · D 27.5% · R 70.7% · Other 1.8%
• 2008→2024 swing: -19.7pp toward R · 2008: -23.6pp · 2024: -43.2pp
• All cycles: 2024: R+43.2 2020: R+40.2 2016: R+46.1 2012: R+32.1 2008: R+23.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -76.96%
• Current HPI: 223.9683
• Rent YoY: ▲ 11.79%
• Metro: Bismarck, ND
• State GDP YoY: ▲ 2.09%
• F500 in state: 2

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Industry mix (Fortune 500 HQ in ND)

Industry	F500 HQs	Revenue
▸Utilities / Construction	1	$6B

Property features AI

Finance

• Financial info: List price $190,000

Exterior

• Home design: Plan model home (Glenborough)Single‑level plan
• Exterior features: Located at N Washington Street and Medora Ave, Bismarck

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom and 1 half bathroom
• Interior features: Plan is the Glenborough model