45 9th Ave W · Dickinson, ND 58601

$189,000

4 bd · 2.0 ba · 1,435 sqft · Other · 25 Days on market

Built 1902 4,138 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 +15.9/30.0
• ARV discount +7.5/15.0
• DSCR +4.9/10.0
• 1% rule +3.8/10.0
• Livability +3.8/5.0
• Schools +3.5/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Are you willing to do some 'HOME' work? Bring back the sparkle in this side-by-side duplex. Great Dickinson location close to the college. This property has had extensive remodeling in the past with newer siding, windows and more. Interior needs fresh paint and floor coverings. Invest a little time, effort and labor to turn this into a fresh updated rental property.

Key facts

• Newer siding
• Newer windows
• Extensive remodeling

Tags

• EXTENSIVE REMODELING
• NEWER SIDING
• NEWER WINDOWS

Property features AI

Finance

• Financial info: Annual property tax approximately $1,962.84

Exterior

• Home design: Multi-family residential income property
• Exterior features: Lot approximately 0.1 acres (about 54.5' x 76'); Zoned Residential High Density

Interior

• Bathrooms: 2 full bathrooms
• Interior features: Heating present

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $189k.

Deal economics

• At list price, monthly cash flow is $90 ($1k/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 $165k (12.5% below list).
• Recommended offer: $165k (12.5% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 2.9% in Dickinson — 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 76/100 on livability (#12 in ND, #3,334 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Dickinson 1 (town): math 35% / reading 43% proficiency, ranked #29 of 53 in ND (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Dickinson Middle School (math 36% / reading 50%, grade D-, #17 of 35 statewide, top 47%, 842 students, 28% FRL).
• Market conditions: Rents rising (+1.9%/yr); 236 active listings in the ZIP; solid renter incomes; 20 units permitted in Stark County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Stark County population projected at +120% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($186k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 2y ago; this cycle's ask has dropped $36k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1902 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $165,430 (12.5% below list)

Questions for the listing agent

1. Built in 1902 — 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. 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?
4. 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?
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: 0.88% ✗
• Cap rate: 6.87%
• Cash-on-cash: 2.05%
• DSCR: 1.09
• GRM: 9.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.95% rent growth · sell at horizon

5-year hold

• IRR: -14.2%
• Equity multiple: 0.50×
• Total profit: $-26,630
• Equity at exit: $28,181

10-year hold

• IRR: -7.1%
• Equity multiple: 0.57×
• Total profit: $-22,848
• Equity at exit: $16,341

Cash invested: $52,920 (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 58601

• Rents YoY: 1.9%
• Active inventory: 236
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,654 medium
• Mortgage (P&I): −$991
• Tax from tax record: −$147 /mo · $1,760/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$347
• Net cashflow: $90

Break-even live

Break-even rent $1,540

Max offer price $189,000

Occupancy floor 90%

Sensitivity live

Price	-10% $197	-5% $144	+0% $90	+5% $37	+10% $-17
Rent	-10% $-40	-5% $25	+0% $90	+5% $156	+10% $221
Rate	-1.0pp $186	-0.5pp $138	base $90	+0.5pp $41	+1.0pp $-8

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Listing history 34 events

1. 2026-06-22
   days on market $189,000 Active 25 DOM
2. 2026-06-21
   days on market $189,000 Active 24 DOM
3. 2026-06-19
   days on market $189,000 Active 22 DOM
4. 2026-06-18
   days on market $189,000 Active 21 DOM
5. 2026-06-17
   days on market $189,000 Active 20 DOM
6. 2026-06-16
   days on market $189,000 Active 19 DOM
7. 2026-06-15
   days on market $189,000 Active 18 DOM
8. 2026-06-14
   days on market $189,000 Active 16 DOM
9. 2026-06-12
   days on market $189,000 Active 15 DOM
10. 2026-06-09
    days on market $189,000 Active 12 DOM
11. 2026-06-08
    days on market $189,000 Active 11 DOM
12. 2026-06-07
    days on market $189,000 Active 10 DOM
13. 2026-06-05
    days on market $189,000 Active 7 DOM
14. 2026-06-03
    days on market $189,000 Active 6 DOM
15. 2026-06-02
    days on market $189,000 Active 5 DOM
16. 2026-06-01
    days on market $189,000 Active 4 DOM
17. 2026-05-31
    days on market $189,000 Active 3 DOM
18. 2026-05-30
    days on market $189,000 Active 2 DOM
19. 2026-03-17
    status Active 368-char remark

    Show marketing remark (368 chars)

    Are you willing to do some 'HOME' work? Bring back the sparkle in this side-by-side duplex. Great Dickinson location close to the college. This property has had extensive remodeling in the past with newer siding, windows and more. Interior needs fresh paint and floor coverings. Invest a little time, effort and labor to turn this into a fresh updated rental property.

20. 2026-03-17
    price $189,000 368-char remark

    Show marketing remark (368 chars)

    Are you willing to do some 'HOME' work? Bring back the sparkle in this side-by-side duplex. Great Dickinson location close to the college. This property has had extensive remodeling in the past with newer siding, windows and more. Interior needs fresh paint and floor coverings. Invest a little time, effort and labor to turn this into a fresh updated rental property.

21. 2026-03-17
    price $189,000

    Show marketing remark (368 chars)

    Are you willing to do some 'HOME' work? Bring back the sparkle in this side-by-side duplex. Great Dickinson location close to the college. This property has had extensive remodeling in the past with newer siding, windows and more. Interior needs fresh paint and floor coverings. Invest a little time, effort and labor to turn this into a fresh updated rental property.

22. 2026-03-17
    status Active

    Show marketing remark (368 chars)

    Are you willing to do some 'HOME' work? Bring back the sparkle in this side-by-side duplex. Great Dickinson location close to the college. This property has had extensive remodeling in the past with newer siding, windows and more. Interior needs fresh paint and floor coverings. Invest a little time, effort and labor to turn this into a fresh updated rental property.

23. 2026-03-06
    status Pending 368-char remark

    Show marketing remark (368 chars)

    Are you willing to do some 'HOME' work? Bring back the sparkle in this side-by-side duplex. Great Dickinson location close to the college. This property has had extensive remodeling in the past with newer siding, windows and more. Interior needs fresh paint and floor coverings. Invest a little time, effort and labor to turn this into a fresh updated rental property.

24. 2026-03-06
    historical Active Under Contract

    Show marketing remark (368 chars)

    Are you willing to do some 'HOME' work? Bring back the sparkle in this side-by-side duplex. Great Dickinson location close to the college. This property has had extensive remodeling in the past with newer siding, windows and more. Interior needs fresh paint and floor coverings. Invest a little time, effort and labor to turn this into a fresh updated rental property.

25. 2026-01-31
    price $205,000 368-char remark

    Show marketing remark (368 chars)

    Are you willing to do some 'HOME' work? Bring back the sparkle in this side-by-side duplex. Great Dickinson location close to the college. This property has had extensive remodeling in the past with newer siding, windows and more. Interior needs fresh paint and floor coverings. Invest a little time, effort and labor to turn this into a fresh updated rental property.

26. 2026-01-31
    price $205,000

    Show marketing remark (368 chars)

    Are you willing to do some 'HOME' work? Bring back the sparkle in this side-by-side duplex. Great Dickinson location close to the college. This property has had extensive remodeling in the past with newer siding, windows and more. Interior needs fresh paint and floor coverings. Invest a little time, effort and labor to turn this into a fresh updated rental property.

27. 2025-11-25
    listed $225,000 Active 368-char remark

    Show marketing remark (368 chars)

    Are you willing to do some 'HOME' work? Bring back the sparkle in this side-by-side duplex. Great Dickinson location close to the college. This property has had extensive remodeling in the past with newer siding, windows and more. Interior needs fresh paint and floor coverings. Invest a little time, effort and labor to turn this into a fresh updated rental property.

28. 2025-11-25
    listed $225,000 Active

    Show marketing remark (368 chars)

    Are you willing to do some 'HOME' work? Bring back the sparkle in this side-by-side duplex. Great Dickinson location close to the college. This property has had extensive remodeling in the past with newer siding, windows and more. Interior needs fresh paint and floor coverings. Invest a little time, effort and labor to turn this into a fresh updated rental property.

29. 2025-05-19
    historical Active Under Contract
30. 2025-03-18
    listed $184,000 Active
31. 2024-11-23
    price $184,000
32. 2024-11-23
    price $184,000
33. 2024-09-17
    listed $189,000 Active
34. 2006-05-17
    soldstatus

ⓘ 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: $1,760 · $147/mo
• Projected year-2 tax: $1,852 · $154/mo
• Expected delta: +$93/yr (+$8/mo · 5.3%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥94°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,852
• − Mortgage interest: −$10,587
• − Property taxes: −$1,760
• − Insurance: −$945
• − Repairs & maintenance: −$1,588
• − Management: −$1,588
• − Depreciation: −$5,498
• Taxable loss: −$2,114
• Est. tax savings @ 24.0%: +$507
• After-tax cash flow: $1,592/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: Dickinson 1
• NCES district ID: 3800038
• Math proficiency: 35% ▼ -12.00%
• Reading proficiency: 43% ▼ -7.00%
• Median HH income: $63,270
• Composite: 34.9/100
• National rank: #5080
• State rank: #29 of 53 in ND

Livability — Dickinson

• Score: 76/100
• State rank: #12
• US rank: #3334

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dickinson, ND
• County: Stark County · 29,916 people
• City population: 29,916
• Metro: Dickinson, ND
• Population (ZIP): 29,916
• Household income: $85,821
• Rent vs Own: 35.4% rent · 64.6% own
• Severe rent burden: 813.0

Population outlook (Stark County) Hauer SSP2

• Today (2025): 50,426 people
• By 2030: 60,812 · +20.6%
• By 2040: 84,155 · +66.9%
• By 2050: 110,718 · +119.6%
• By 2075: 186,710 · +270.3%
• By 2100: 264,902 · +425.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 7% Two or more races 5% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 9% Scotch-Irish 2% Lithuanian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 92% English-only · Spanish 4% German/W. Germanic 1% Arabic 1%

Political lean MEDSL · Stark

• 2024 margin: Solid R (+65.6) · D 16.5% · R 82.1% · Other 1.5%
• 2008→2024 swing: -36.5pp toward R · 2008: -29.1pp · 2024: -65.6pp
• All cycles: 2024: R+65.6 2020: R+63.9 2016: R+65.8 2012: R+49.4 2008: R+29.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -133.57%
• Current HPI: 188.1029
• Rent YoY: ▲ 1.95%
• Metro: Dickinson, 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

+0.0% since first listed

16 events — show timeline

• 2026-03-17 Relisted — GNMLS
• 2026-03-17 Price Changed $189,000 GNMLS
• 2026-03-17 Price Changed $189,000 Badlands BOR MLS
• 2026-03-17 Relisted — Badlands BOR MLS
• 2026-03-06 Pending — GNMLS
• 2026-03-06 Contingent — Badlands BOR MLS
• 2026-01-31 Price Changed $205,000 GNMLS
• 2026-01-31 Price Changed $205,000 Badlands BOR MLS
• 2025-11-25 Listed $225,000 Badlands BOR MLS
• 2025-11-25 Listed $225,000 GNMLS
• 2025-05-19 Contingent — Badlands BOR MLS
• 2025-03-18 Listed $184,000 Badlands BOR MLS
• 2024-11-23 Price Changed $184,000 GNMLS
• 2024-11-23 Price Changed $184,000 Badlands BOR MLS
• 2024-09-17 Listed $189,000 Badlands BOR MLS
• 2006-05-17 Sold (Public Records) — Public Records

Property tax history

+6.0%/yr

Latest (2025): $1,760 · +2.0% YoY. Source: county tax records.