306 5th Ave NE · Hazen, ND 58545

$235,000

5 bd · 2.0 ba · 2,901 sqft · Other · 80 Days on market

Built 1983 0.79 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).

• Appreciation +10.0/10.0
• Cash flow +8.2/30.0
• ARV discount +7.5/15.0
• Schools +3.9/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.2/10.0
• 1% rule +1.3/10.0

Key facts

• 0.79 acre lot
• 2 garage spots
• Built 1983

Property features AI

Exterior

• Parking: Detached oversized garage with 2 spaces; Driveway with concrete surface; Alley access
• Security: Security system
• Utilities: Public water; Public sewer; Electricity available; Water connected; Cable available; Phone available
• Home design: Single-family residence; Residential property
• Construction: Wood siding and HardiPlank exterior; Shingle roof; Concrete perimeter foundation and slab; Built area includes finished space above and below grade
• Exterior features: Private yard; Storage; Rain gutters; Deck; Patio; Porch; Shed(s); Wooded, irregular lot

Interior

• Kitchen: Dishwasher; Oven; Range; Microwave; Refrigerator; Freezer
• Flooring: Tile; Vinyl; Wood; Carpet; Laminate
• Bathrooms: One full bathroom; One three-quarter bathroom
• Heating & cooling: Central air; Ceiling fans for cooling; Electric forced-air heating
• Interior features: Ceiling fans; High-speed internet; Pantry; Window treatments; One fireplace in the family room; Partially finished basement with concrete partial foundation
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath other listed at $235k.

Deal economics

• At list price, monthly cash flow is $-221 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $196k (16.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $148k (36.8% below list).
• Recommended offer: $148k (36.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 75/100 on livability (#25 in ND, #4,265 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety D-.
• Hazen 3 (rural): math 41% / reading 45% proficiency, ranked #22 of 53 in ND (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 14% free/reduced lunch — higher-income household profile.
• Zoned schools: Hazen Elementary School (math 52% / reading 47%, grade D, #65 of 236 statewide, top 37%, 274 students, 19% FRL); Hazen Middle School (math 27% / reading 37%, grade F, #30 of 35 statewide, top 85%, 131 students, 17% FRL); Hazen High School (math 44% / reading 54%, grade D, #19 of 144 statewide, top 19%, 163 students, 12% FRL) — zoned schools at 16% FRL track the district average.
• Market conditions: 38 active listings in the ZIP; 15 units permitted in Mercer County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $25k of equity ($2k loan paydown + $24k appreciation (10.0% local appreciation)).
• Mercer County population projected at +38% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($221k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $148,409 (36.8% 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 80 days. Have you received any prior offers? Is the seller open to a 37% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.63% ✗
• Cap rate: 5.16%
• Cash-on-cash: -4.04%
• DSCR: 0.82
• GRM: 13.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.4%
• Equity multiple: 2.73×
• Total profit: $113,764
• Equity at exit: $211,707

10-year hold

• IRR: 19.3%
• Equity multiple: 6.26×
• Total profit: $345,871
• Equity at exit: $456,553

Cash invested: $65,800 (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 58545

• Home prices YoY: 8.1%
• Active inventory: 38
• Price-to-rent: 13.2×

Monthly cashflow live

• Estimated rent: $1,484 medium
• Mortgage (P&I): −$1,232
• Tax from tax record: −$64 /mo · $763/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$312
• Net cashflow: $-221

Break-even live

Break-even rent $1,764

Max offer price $195,880

Occupancy floor —

Sensitivity live

Price	-10% $-88	-5% $-155	+0% $-221	+5% $-288	+10% $-354
Rent	-10% $-339	-5% $-280	+0% $-221	+5% $-163	+10% $-104
Rate	-1.0pp $-103	-0.5pp $-162	base $-221	+0.5pp $-282	+1.0pp $-344

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $235,000 Active 80 DOM
2. 2026-06-21
   days on market $235,000 Active 79 DOM
3. 2026-06-18
   days on market $235,000 Active 77 DOM
4. 2026-06-17
   days on market $235,000 Active 76 DOM
5. 2026-06-16
   days on market $235,000 Active 75 DOM
6. 2026-06-15
   days on market $235,000 Active 74 DOM
7. 2026-06-13
   days on market $235,000 Active 72 DOM
8. 2026-06-12
   days on market $235,000 Active 71 DOM
9. 2026-06-09
   days on market $235,000 Active 68 DOM
10. 2026-06-08
    days on market $235,000 Active 67 DOM
11. 2026-06-07
    days on market $235,000 Active 66 DOM
12. 2026-06-05
    days on market $235,000 Active 64 DOM
13. 2026-06-04
    days on market $235,000 Active 62 DOM
14. 2026-06-02
    days on market $235,000 Active 61 DOM
15. 2026-06-01
    days on market $235,000 Active 60 DOM
16. 2026-05-31
    days on market $235,000 Active 59 DOM
17. 2026-05-18
    price $235,000
18. 2026-04-27
    price $240,000
19. 2026-04-21
    status Active
20. 2026-04-11
    status Pending
21. 2026-03-23
    listed $250,000 Active
22. 2023-08-31
    soldstatus $212,000

ⓘ 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: $763 · $64/mo
• Projected year-2 tax: $2,303 · $192/mo
• Expected delta: +$1,540/yr (+$128/mo · 201.8%)

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

Taxation est. · year 1

• Rental income: $17,809
• − Mortgage interest: −$13,164
• − Property taxes: −$763
• − Insurance: −$1,175
• − Repairs & maintenance: −$1,425
• − Management: −$1,425
• − Depreciation: −$6,836
• Taxable loss: −$6,979
• Est. tax savings @ 24.0%: +$1,675
• After-tax cash flow: $-983/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: Hazen 3
• NCES district ID: 3800031
• Math proficiency: 41% ▼ -9.00%
• Reading proficiency: 45% ▼ -4.00%
• Median HH income: $71,408
• Composite: 39.02/100
• National rank: #4066
• State rank: #22 of 53 in ND

Livability — Hazen

• Score: 75/100
• State rank: #25
• US rank: #4265

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hazen, ND
• Population (ZIP): 3,278

Population outlook (Mercer County) Hauer SSP2

• Today (2025): 9,891 people
• By 2030: 10,506 · +6.2%
• By 2040: 11,872 · +20.0%
• By 2050: 13,612 · +37.6%
• By 2075: 19,871 · +100.9%
• By 2100: 25,938 · +162.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 2% Hispanic / Latino 2% Black 1% Native American 1%
• Common ancestry: Portuguese 15% Scotch-Irish 5% Iranian 3%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · German/W. Germanic 2% Spanish 1% French/Haitian/Cajun 1%

Political lean MEDSL · Mercer

• 2024 margin: Solid R (+69.0) · D 14.8% · R 83.8% · Other 1.3%
• 2008→2024 swing: -39.2pp toward R · 2008: -29.9pp · 2024: -69.0pp
• All cycles: 2024: R+69.0 2020: R+67.4 2016: R+67.9 2012: R+44.9 2008: R+29.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 23.62%
• Current HPI: 315.26
• 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

+10.8% since first listed

6 events — show timeline

• 2026-05-18 Price Changed $235,000 GNMLS
• 2026-04-27 Price Changed $240,000 GNMLS
• 2026-04-21 Relisted — GNMLS
• 2026-04-11 Pending — GNMLS
• 2026-03-23 Listed $250,000 GNMLS
• 2023-08-31 Sold (Public Records) $212,000 Public Records