8301 52nd St N

Grand Forks, ND 58203

$50,000B

3 bd · 2.0 ba · 1,224 sqft · Built 1976 · SingleFamily · Pending · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,436/mo
• Mortgage (P&I): −$262
• Tax + insurance: −$62
• HOA: −$0
• Vac / Maint / Mgmt: −$302
• Net cashflow: $810/mo
• Annual: $9,723/yr
• Cap rate: 25.74%
• Cash-on-cash: 69.45%
• DSCR: 4.09
• 1% rule: 2.87%
• Cash to close: $14,000

Investor read

• This is a 3-bed/2.0-bath single-family listed at $50k.
• At list price, monthly cash flow is $810 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $346 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• 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+.
• Manvel 125 (rural): math 70% / reading 65% proficiency, ranked #2 of 169 in ND (top 1%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 17% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+6.0%/yr); 56 active listings in the ZIP; 133 units permitted in Grand Forks County in 2024 (0 in 5+ unit buildings).
• Grand Forks County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 6.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• Cap rate 25.7% 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.

Questions for listing agent

• Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.
• 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.