1011 3rd Ave · Cando, ND 58324

$119,900

3 bd · 1.5 ba · 900 sqft · Other public records · 17 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 +12.4/30.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• DSCR +3.7/10.0
• Schools +3.5/10.0
• Livability +3.5/5.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

The residence address is 1011. There is a house at 1013, but it is for storage only. This home has a large remodeled eat in kitchen. Bay window in the LR. There are 3 bedrooms and 2 baths. Mud/laundry room on entry level. Furnace is approximately 1 yr old. This property has 6 city lots, 4 sheds, large deck, 2 detached garages, & vinyl siding & windows. Backs up to city park!

Key facts

• Multiple garages
• Six city lots
• Bright living room

Tags

• SIX CITY LOTS
• MULTIPLE GARAGES
• REMODELED EAT-IN KITCHEN
• BRIGHT LIVING ROOM

Property features AI

Exterior

• Parking: 2-car garage; Garage door opener
• Utilities: Public water; Natural gas available
• Home design: Single family residence; One level
• Construction: Vinyl siding; Block foundation
• Exterior features: Deck; Patio

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Has heating; Has cooling; Other type of heating
• Interior features: Fireplace (1)

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath other listed at $120k.

Deal economics

• At list price, monthly cash flow is $-19 ($-225/yr) — negative.
• To cash-flow at today's rent, offer at most $117k (2.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $94k (22.0% below list).
• Recommended offer: $94k (22.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 70/100 on livability (#90 in ND) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• North Star 10 (rural): math 40% / reading 35% proficiency, ranked #113 of 169 in ND (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: North Star Elementary School (math 42% / reading 47%, grade F, #102 of 236 statewide, top 49%, 223 students, 30% FRL); North Star High School (math 24% / reading 75%, grade D+, #16 of 144 statewide, top 12%, 76 students, 32% FRL).
• Market conditions: 11 active listings in the ZIP.

Forward outlook

• In year one you build about $4k of equity ($829 loan paydown + $4k appreciation (3.0% local appreciation)).
• Towner County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

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

Recommended offer $93,513 (22.0% 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 1915 — 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
6. 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.
7. 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.
8. 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: 0.78% ✗
• Cap rate: 6.11%
• Cash-on-cash: -0.67%
• DSCR: 0.97
• GRM: 10.7

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: 6.9%
• Equity multiple: 1.39×
• Total profit: $13,221
• Equity at exit: $53,912

10-year hold

• IRR: 9.6%
• Equity multiple: 2.45×
• Total profit: $48,715
• Equity at exit: $83,085

Cash invested: $33,572 (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 58324

• Active inventory: 11
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $935 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$79 /mo · $945/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$196
• Net cashflow: $-19

Break-even live

Break-even rent $959

Max offer price $116,589

Occupancy floor 97%

Sensitivity live

Price	-10% $49	-5% $15	+0% $-19	+5% $-53	+10% $-87
Rent	-10% $-93	-5% $-56	+0% $-19	+5% $18	+10% $55
Rate	-1.0pp $42	-0.5pp $12	base $-19	+0.5pp $-50	+1.0pp $-81

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-22
   days on market $119,900 Active 17 DOM
2. 2026-06-21
   days on market $119,900 Active 16 DOM
3. 2026-06-21
   days on market $119,900 Active 15 DOM
4. 2026-06-18
   days on market $119,900 Active 13 DOM
5. 2026-06-17
   days on market $119,900 Active 12 DOM
6. 2026-06-16
   days on market $119,900 Active 11 DOM
7. 2026-06-15
   days on market $119,900 Active 10 DOM
8. 2026-06-13
   days on market $119,900 Active 8 DOM
9. 2026-06-12
   days on market $119,900 Active 7 DOM
10. 2026-06-09
    days on market $119,900 Active 4 DOM
11. 2026-06-08
    days on market $119,900 Active 3 DOM
12. 2026-06-07
    listed $119,900 Active 2 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: $945 · $79/mo
• Projected year-2 tax: $1,175 · $98/mo
• Expected delta: +$230/yr (+$19/mo · 24.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $11,222
• − Mortgage interest: −$6,716
• − Property taxes: −$945
• − Insurance: −$600
• − Repairs & maintenance: −$898
• − Management: −$898
• − Depreciation: −$3,488
• Taxable loss: −$2,323
• Est. tax savings @ 24.0%: +$557
• After-tax cash flow: $333/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: North Star 10
• NCES district ID: 3800390
• Math proficiency: 40% ▬ 0.00%
• Reading proficiency: 35% ▼ -25.00%
• Median HH income: $50,163
• Composite: 34.97/100
• National rank: #9959
• State rank: #113 of 169 in ND

Livability — Cando

• Score: 70/100
• State rank: #90
• US rank: #8005

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cando, ND
• Population (ZIP): 1,354

Population outlook (Towner County) Hauer SSP2

• Today (2025): 2,328 people
• By 2030: 2,390 · +2.7%
• By 2040: 2,588 · +11.2%
• By 2050: 2,861 · +22.9%
• By 2075: 4,024 · +72.9%
• By 2100: 4,838 · +107.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Native American 9% Two or more races 8% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Portuguese 24% Scottish 6% Slovak 3%
• Foreign-born: 4% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Towner

• 2024 margin: Solid R (+45.7) · D 26.0% · R 71.7% · Other 2.2%
• 2008→2024 swing: -52.8pp toward R · 2008: 7.1pp · 2024: -45.7pp
• All cycles: 2024: R+45.7 2020: R+43.7 2016: R+37.6 2012: R+9.3 2008: D+7.1

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

+126.2% since first listed

4 events — show timeline

• 2026-06-05 Listed $119,900 GFAAR
• 2017-08-02 Sold (Public Records) — Public Records
• 2017-08-01 Sold (MLS) — GFAAR
• 2017-03-27 Listed $53,000 GFAAR

Property tax history

+7.2%/yr

Latest (2024): $945 · +11.1% YoY. Source: county tax records.