206 Leslie · Starkweather, ND 58382

$29,900

2 bd · 1.0 ba · 1,820 sqft · Other public records · 323 Days on market

Built 1925 0.71 ac lot

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Schools +3.7/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• Metal roof
• Kitchen updates
• Room upstairs

Tags

• KITCHEN UPDATES
• BATHROOM UPDATES
• BIG GARAGE
• ROOM UPSTAIRS
• UPDATED ROOF
• METAL ROOF

Property features AI

Finance

• Other: Living area reported as 1,800 sq ft above grade with 400 sq ft below grade (total building area 2,200)

Exterior

• Parking: Attached or detached 2-car garage (1,000 sq ft garage reported)
• Utilities: Well water; Septic system (compliant); Propane
• Home design: Residential property; One and one-half levels; Main living area about 1,800 above grade (total building area about 2,200)
• Construction: Block foundation; Basement constructed with block and concrete; Wood exterior
• Exterior features: Wood exterior; Lot about 0.71 acres (approximately 180 x 170)

Interior

• Kitchen: Dishwasher (listed as included in amenities); Washer/Dryer hookup
• Bedrooms: 2 bedrooms
• Flooring: Hardwood floors; Natural woodwork
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Ductless mini-split cooling
• Interior features: Hardwood floors; Natural woodwork; Main floor full bath; Basement with block and concrete construction and storage space
• Laundry & utility: Washer/dryer hookup; Propane fuel

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $30k.

Deal economics

• At list price, monthly cash flow is $597 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($990 rent vs $30k).
• Recommended offer: $26k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 58/100 on livability (#292 in ND) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A, housing A; Watch: amenities F, commute F, employment F.
• Starkweather 44 (rural): math 40% / reading 40% proficiency, ranked #97 of 169 in ND (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 1 active listings in the ZIP; 6 units permitted in Ramsey County in 2024 (5 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($207 loan paydown + $897 appreciation (3.0% local appreciation)).
• Ramsey County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 323 days — a 12% lower offer ($26k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $26,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 323 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
6. 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.
7. 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: 3.31% ✓
• Cap rate: 30.25%
• Cash-on-cash: 85.55%
• DSCR: 4.81
• GRM: 2.5

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: 89.9%
• Equity multiple: 5.97×
• Total profit: $41,619
• Equity at exit: $13,444

10-year hold

• IRR: 89.4%
• Equity multiple: 12.33×
• Total profit: $94,891
• Equity at exit: $20,719

Cash invested: $8,372 (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 58382

• Active inventory: 1
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $990 medium
• Mortgage (P&I): −$157
• Tax from tax record: −$16 /mo · $192/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$208
• Net cashflow: $597

Break-even live

Break-even rent $235

Max offer price $29,900

Occupancy floor 35%

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: $7,475
• Closing costs: $897
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $29,900 Active 323 DOM
2. 2026-06-17
   days on market $29,900 Active 322 DOM
3. 2026-06-16
   days on market $29,900 Active 321 DOM
4. 2026-06-15
   days on market $29,900 Active 320 DOM
5. 2026-06-13
   days on market $29,900 Active 318 DOM
6. 2026-06-12
   days on market $29,900 Active 317 DOM
7. 2026-06-09
   days on market $29,900 Active 314 DOM
8. 2026-06-08
   days on market $29,900 Active 313 DOM
9. 2026-06-07
   days on market $29,900 Active 312 DOM
10. 2026-06-05
    days on market $29,900 Active 310 DOM
11. 2026-06-04
    days on market $29,900 Active 308 DOM
12. 2026-06-02
    days on market $29,900 Active 307 DOM
13. 2026-06-01
    days on market $29,900 Active 306 DOM
14. 2026-05-31
    days on market $29,900 Active 305 DOM
15. 2026-04-13
    price $34,900
16. 2026-01-07
    price $39,900
17. 2025-09-24
    price $49,900
18. 2025-08-27
    price $79,900
19. 2025-07-30
    listed $89,900 Active
20. 2004-11-09
    soldstatus $34,000

ⓘ 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: $192 · $16/mo
• Projected year-2 tax: $293 · $24/mo
• Expected delta: +$101/yr (+$8/mo · 52.3%)

ⓘ 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 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥94°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,881
• − Mortgage interest: −$1,675
• − Property taxes: −$192
• − Insurance: −$150
• − Repairs & maintenance: −$950
• − Management: −$950
• − Depreciation: −$870
• Taxable income: $7,094
• Est. tax owed @ 24.0%: −$1,702
• After-tax cash flow: $5,460/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: Starkweather 44
• NCES district ID: 3817670
• Math proficiency: 40% ▲ 19.00%
• Reading proficiency: 40% ▬ 0.00%
• Median HH income: $53,395
• Composite: 37.24/100
• National rank: #8981
• State rank: #97 of 169 in ND

Livability — Starkweather

• Score: 58/100
• State rank: #292
• US rank: #20689

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 139

Population outlook (Ramsey County) Hauer SSP2

• Today (2025): 11,910 people
• By 2030: 12,089 · +1.5%
• By 2040: 12,568 · +5.5%
• By 2050: 13,136 · +10.3%
• By 2075: 16,531 · +38.8%
• By 2100: 20,500 · +72.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 18%
• Common ancestry: Portuguese 38% Lithuanian 3% Iranian 1%
• Foreign-born: 18%
• Languages at home: 76% English-only · German/W. Germanic 24%

Political lean MEDSL · Ramsey

• 2024 margin: Solid R (+40.3) · D 29.1% · R 69.3% · Other 1.6%
• 2008→2024 swing: -39.3pp toward R · 2008: -1.0pp · 2024: -40.3pp
• All cycles: 2024: R+40.3 2020: R+36.1 2016: R+32.8 2012: R+10.0 2008: R+1.0

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

+2.6% since first listed

6 events — show timeline

• 2026-04-13 Price Changed $34,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-07 Price Changed $39,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-24 Price Changed $49,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-27 Price Changed $79,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-07-30 Listed $89,900 NORTHSTARMLS as Distributed by MLS Grid
• 2004-11-09 Sold (Public Records) $34,000 Public Records

Property tax history

-2.9%/yr

Latest (2025): $192 · -37.5% YoY. Source: county tax records.