317 3rd Ave NW · Beulah, ND 58523

$86,000

2 bd · 1.0 ba · 800 sqft · SingleFamily · 15 Days on market

Built 1940 Fair condition 7,500 sqft lot Est $80k · 8% over

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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 +20.1/30.0
• DSCR +6.4/10.0
• 1% rule +5.3/10.0
• ARV discount +4.1/15.0
• Livability +3.7/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Key facts

• New furnace
• Steel siding
• Central air

Tags

• HARDWOOD FLOORS
• DETACHED GARAGE
• NEW FURNACE
• STEEL SIDING
• CENTRAL AIR

Property features AI

Exterior

• Parking: Detached garage with garage door opener; Garage faces front; Additional parking; 2-car garage
• Utilities: Public water; Public sewer; Propane available; Electricity connected
• Home design: Single family residence; One story
• Construction: Metal siding; Block foundation; Built with concrete basement
• Exterior features: Corner, level lot; Publicly maintained road frontage on a city street; No fencing; Asphalt roof

Interior

• Kitchen: Electric range; Refrigerator
• Flooring: Vinyl; Wood; Hardwood; Linoleum
• Bathrooms: One three-quarter bathroom
• Heating & cooling: Forced air heating (propane); Central air conditioning
• Interior features: Accessible entrance with ramp; Concrete basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $86k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $107 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($887 rent vs $86k).
• Recommended offer: $85k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 74/100 on livability (#27 in ND, #4,527 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: health & safety D+, amenities F, commute F.
• Beulah 27 (town): math 31% / reading 33% proficiency, ranked #37 of 53 in ND (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 17% free/reduced lunch — higher-income household profile.
• Zoned schools: Beulah Elementary School (math 37% / reading 32%, grade F, #162 of 236 statewide, top 73%, 319 students, 24% FRL); Beulah Middle School (math 33% / reading 35%, grade F, #26 of 35 statewide, top 79%, 236 students, 22% FRL); Beulah High School (math 15% / reading 24%, grade F, #134 of 144 statewide, top 93%, 206 students, 14% FRL) — zoned schools at 20% FRL track the district average.
• Market conditions: 24 active listings in the ZIP; 15 units permitted in Mercer County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $595 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Mercer County population projected at +38% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($85k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $84,710 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1940 — 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: 1.03% ✓
• Cap rate: 7.78%
• Cash-on-cash: 5.31%
• DSCR: 1.24
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $80,000
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
200 2nd Ave Se Ave SE	0.49mi	2/1.0	888 (+11%)	17mo	$89,000	$100	44

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -8.0%
• Equity multiple: 0.70×
• Total profit: $-7,138
• Equity at exit: $12,823

10-year hold

• IRR: 1.5%
• Equity multiple: 1.11×
• Total profit: $2,574
• Equity at exit: $7,436

Cash invested: $24,080 (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 58523

• Home prices YoY: -34.8%
• Active inventory: 24
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $887 medium
• Mortgage (P&I): −$451
• Tax est. 1.5%: −$108 /mo · $1,290/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$186
• Net cashflow: $107

Break-even live

Break-even rent $752

Max offer price $86,000

Occupancy floor 83%

Sensitivity live

Price	-10% $166	-5% $136	+0% $107	+5% $77	+10% $47
Rent	-10% $36	-5% $71	+0% $107	+5% $142	+10% $177
Rate	-1.0pp $150	-0.5pp $128	base $107	+0.5pp $84	+1.0pp $62

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: $21,500
• Closing costs: $2,580
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-21
   days on market $86,000 Active 15 DOM
2. 2026-06-21
   days on market $86,000 Active 14 DOM
3. 2026-06-18
   days on market $86,000 Active 12 DOM
4. 2026-06-17
   days on market $86,000 Active 11 DOM
5. 2026-06-16
   days on market $86,000 Active 10 DOM
6. 2026-06-15
   days on market $86,000 Active 9 DOM
7. 2026-06-13
   days on market $86,000 Active 7 DOM
8. 2026-06-12
   days on market $86,000 Active 6 DOM
9. 2026-06-09
   days on market $86,000 Active 3 DOM
10. 2026-06-08
    days on market $86,000 Active 2 DOM
11. 2026-06-07
    listed $86,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $10,646
• − Mortgage interest: −$4,817
• − Property taxes: −$1,290
• − Insurance: −$430
• − Repairs & maintenance: −$852
• − Management: −$852
• − Depreciation: −$2,502
• Taxable loss: −$97
• Est. tax savings @ 24.0%: +$23
• After-tax cash flow: $1,301/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 · 13 photos

Fair 45/100 Moderate rehab

The home requires moderate repairs and updates to its kitchen, bathrooms, exterior, and flooring to improve its condition and value.

Repairs flagged

• Moderate Kitchen cabinets — Worn condition
• Moderate Bathroom fixtures — Dated appearance
• Moderate Exterior siding — Weathered condition

Value-add opportunities

• Resale Paint interior walls — Fresh paint enhances curb appeal
• Resale Replace countertops — Modern countertops improve functionality and aesthetics
• Resale Replace dated kitchen cabinets — Fresh cabinets modernize the kitchen and increase value
• Resale Replace dated bathroom fixtures — Modern fixtures improve functionality and aesthetics
• Resale Paint exterior siding — Fresh paint enhances curb appeal and value
• Both Replace worn flooring — Fresh flooring improves functionality and aesthetics, increasing both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Worn condition	Moderate	$3,000–15,000
Bathroom fixtures · Dated appearance	Moderate	$3,000–15,000
Exterior siding · Weathered condition	Moderate	$3,000–15,000
Total estimated repair cost · 3 items		$9,000–45,000

Value-add ROI direction

• Resale Paint interior walls — Fresh paint enhances curb appeal ↑
• Resale Replace countertops — Modern countertops improve functionality and aesthetics ↑
• Resale Replace dated kitchen cabinets — Fresh cabinets modernize the kitchen and increase value ↑
• Resale Replace dated bathroom fixtures — Modern fixtures improve functionality and aesthetics ↑
• Resale Paint exterior siding — Fresh paint enhances curb appeal and value ↑
• Both Replace worn flooring — Fresh flooring improves functionality and aesthetics, increasing both resale and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Beulah 27
• NCES district ID: 3800032
• Math proficiency: 31% ▼ -13.00%
• Reading proficiency: 33% ▼ -6.00%
• Median HH income: $65,415
• Composite: 29.33/100
• National rank: #6547
• State rank: #37 of 53 in ND

Livability — Beulah

• Score: 74/100
• State rank: #27
• US rank: #4527

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Beulah, ND
• City population: 3,277
• Population (ZIP): 3,277

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 (89%)
• Race & ethnicity: White 89% Hispanic / Latino 5% Two or more races 4% Native American 2%
• Common ancestry: Portuguese 12% Scotch-Irish 6% Subsaharan African 3%
• Foreign-born: 3% · Canada, Guatemala
• Languages at home: 93% English-only · German/W. Germanic 3% Spanish 1% Other Indo-European 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: ▼ -86.64%
• Current HPI: 162.0576
• 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

+8.9% since first listed

2 events — show timeline

• 2026-06-06 Price Changed $86,000 GNMLS
• 2026-06-06 Listed $79,000 GNMLS