1619 1st St SE · Minot, ND 58701

$264,900

4 bd · 2.0 ba · 1,824 sqft · MultiFamily public records · 8 Days on market

Built 1957 7,492 sqft 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 +14.6/30.0
• ARV discount +7.5/15.0
• DSCR +4.5/10.0
• Rent growth +3.8/5.0
• Schools +3.8/10.0
• Livability +3.8/5.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Great investment opportunity! One level duplex, each side featuring 2 bedrooms and one bath. Rent out both sides or live in one and rent the other!

Key facts

• Practical layouts
• Strong rental appeal
• 7,492 sq ft lot

Tags

• TURNKEY DUPLEX OPPORTUNITY
• COMFORTABLE LIVING SPACE
• PRACTICAL LAYOUTS
• LOW-MAINTENANCE APPEAL
• STRONG RENTAL APPEAL
• LONG-TERM INVESTMENT POTENTIAL

Property features AI

Exterior

• Parking: Off-street, side-by-side concrete parking; Lighted parking
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Natural gas available and connected; Electricity connected; Water connected; Sewer connected
• Home design: Duplex residential income property; One story; HardiPlank-type siding
• Construction: Shingle/asphalt/fiberglass roof; Concrete perimeter foundation; Built with HardiPlank-type exterior
• Exterior features: Patio; Rain gutters; Exterior lighting; Shed(s); Partial wood and chain-link fencing; Landscaped, level, rectangular lot; City street frontage; Asphalt paved public road

Interior

• Kitchen: Refrigerator; Range; Microwave; Dishwasher
• Flooring: Vinyl flooring; Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air; Ceiling fans; Forced air heating; Natural gas heating
• Interior features: Ceiling fans; Window treatments; Smoke detectors
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $265k.

Deal economics

• At list price, monthly cash flow is $63 ($760/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $208k (21.6% below list).
• Recommended offer: $208k (21.6% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 2.4% in Minot — 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.

Location & tenants

• Location reads 75/100 on livability (#21 in ND, #3,953 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Minot 1 (town): math 41% / reading 46% proficiency, ranked #24 of 53 in ND (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Washington Elementary School (math 22% / reading 27%, grade F, #204 of 236 statewide, top 91%, 299 students, 62% FRL); Jim Hill Middle School (math 45% / reading 51%, grade C-, #9 of 35 statewide, top 24%, 840 students, 31% FRL); Magic City Campus High School (933 students, 22% FRL).
• Market conditions: Rents rising fast (+5.0%/yr); 176 active listings in the ZIP; 123 units permitted in Ward County in 2024 (0 in 5+ unit buildings).
• This rent runs 34% of the median local income ($73k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Ward County population projected at +76% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 8y 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.
• Current owner paid $188k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $207,800 (21.6% below list)

Questions for the listing agent

1. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.78% ✗
• Cap rate: 6.58%
• Cash-on-cash: 1.02%
• DSCR: 1.05
• GRM: 10.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.05% rent growth · sell at horizon

5-year hold

• IRR: -12.7%
• Equity multiple: 0.53×
• Total profit: $-34,643
• Equity at exit: $39,497

10-year hold

• IRR: -1.2%
• Equity multiple: 0.91×
• Total profit: $-6,762
• Equity at exit: $22,904

Cash invested: $74,172 (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 58701

• Rents YoY: 5.0%
• Active inventory: 176
• Price-to-rent: 21.2×

Monthly cashflow live

• Estimated rent: $2,078 medium
• Mortgage (P&I): −$1,389
• Tax from tax record: −$79 /mo · $945/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$436
• Net cashflow: $63

Break-even live

Break-even rent $1,998

Max offer price $264,900

Occupancy floor 92%

Sensitivity live

Price	-10% $213	-5% $138	+0% $63	+5% $-12	+10% $-87
Rent	-10% $-101	-5% $-19	+0% $63	+5% $145	+10% $227
Rate	-1.0pp $197	-0.5pp $131	base $63	+0.5pp $-5	+1.0pp $-75

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,078
Total (2 units)			$2,078

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: $66,225
• Closing costs: $7,947
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-15
   status $264,900 Pending 8 DOM
2. 2026-06-15
   days on market $264,900 Active 8 DOM
3. 2026-06-14
   days on market $264,900 Active 6 DOM
4. 2026-06-12
   days on market $264,900 Active 5 DOM
5. 2026-06-09
   days on market $264,900 Active 2 DOM
6. 2026-06-07
   listed $264,900 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: $945 · $79/mo
• Projected year-2 tax: $2,596 · $216/mo
• Expected delta: +$1,651/yr (+$138/mo · 174.6%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥95°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,936
• − Mortgage interest: −$14,839
• − Property taxes: −$945
• − Insurance: −$1,324
• − Repairs & maintenance: −$1,995
• − Management: −$1,995
• − Depreciation: −$7,706
• Taxable loss: −$3,868
• Est. tax savings @ 24.0%: +$928
• After-tax cash flow: $1,688/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: Minot 1
• NCES district ID: 3813030
• Math proficiency: 41% ▼ -4.00%
• Reading proficiency: 46% ▼ -1.00%
• Median HH income: $54,224
• Composite: 37.79/100
• National rank: #4341
• State rank: #24 of 53 in ND

Livability — Minot

• Score: 75/100
• State rank: #21
• US rank: #3953

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Minot, ND
• County: Ward County · 55,225 people
• City population: 55,225
• Metro: Minot, ND
• Population (ZIP): 33,086
• Household income: $73,269
• Rent vs Own: 39.4% rent · 60.6% own
• Severe rent burden: 1146.0

Population outlook (Ward County) Hauer SSP2

• Today (2025): 92,683 people
• By 2030: 104,825 · +13.1%
• By 2040: 131,945 · +42.4%
• By 2050: 163,134 · +76.0%
• By 2075: 256,561 · +176.8%
• By 2100: 354,426 · +282.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Two or more races 8% Hispanic / Latino 5% Black 3% Native American 2% Asian 2%
• Common ancestry: Portuguese 27% Scotch-Irish 3% Lithuanian 2%
• Foreign-born: 5% · Canada
• Languages at home: 94% English-only · Spanish 2% Other Asian/Pacific 1% Tagalog/Filipino 1%

Political lean MEDSL · Ward

• 2024 margin: Solid R (+47.4) · D 25.5% · R 72.8% · Other 1.7%
• 2008→2024 swing: -28.2pp toward R · 2008: -19.2pp · 2024: -47.4pp
• All cycles: 2024: R+47.4 2020: R+44.9 2016: R+47.7 2012: R+30.8 2008: R+19.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -227.47%
• Current HPI: 144.9492
• Rent YoY: ▲ 5.05%
• Metro: Minot, ND
• 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

+96.2% since first listed

4 events — show timeline

• 2026-06-07 Listed $264,900 GNMLS
• 2024-02-16 Sold (Public Records) $188,000 Public Records
• 2019-10-25 Sold (MLS) — MMLS
• 2018-07-18 Listed $135,000 MMLS

Property tax history

-3.6%/yr

Latest (2025): $945 · -41.4% YoY. Source: county tax records.