911 Emmerling Ave · Walhalla, ND 58282

$169,900

4 bd · 3.0 ba · 2,616 sqft · Other · 44 Days on market

Built 1946 7,056 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 +11.7/30.0
• ARV discount +7.5/15.0
• Schools +5.3/10.0
• Appreciation +5.0/10.0
• DSCR +3.4/10.0
• Livability +3.2/5.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Don't miss out on this beautiful older home in the heart of the Rendezvous Region. History and charm collide in this amazing home. Newer windows, Vinyl siding, original hardwood floors and a fully fenced back yard add to the flair and appeal. The year round recreation opportunities make this a great place to call home!!

Key facts

• 7,056 sq ft lot
• Garage
• Built 1946

Property features AI

Exterior

• Parking: 1-car garage
• Utilities: City water connected; City sewer connected; Natural gas
• Home design: Residential property; Two levels; Shake roof
• Construction: 864 sq ft foundation area
• Exterior features: Vinyl exterior; Wood fencing

Interior

• Kitchen: Kitchen on main level
• Bedrooms: 4 bedrooms (includes Bedroom 2, Bedroom 3, Bedroom 4)
• Bathrooms: Three 3/4 bathrooms (one in basement, one on main floor, one on upper level)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Full basement; Corner lot setting
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath other listed at $170k.

Deal economics

• At list price, monthly cash flow is $-49 ($-589/yr) — negative.
• To cash-flow at today's rent, offer at most $161k (5.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $133k (22.0% below list).
• Recommended offer: $133k (22.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#206 in ND) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, schools D+, health & safety D+.
• North Border 100 (rural): math 60% / reading 60% proficiency, ranked #11 of 169 in ND (top 6%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 6 active listings in the ZIP; 2 units permitted in Pembina County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($1k loan paydown + $5k appreciation (3.0% local appreciation)).
• Pembina County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $48k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($165k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $132,602 (22.0% 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 44 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.78% ✗
• Cap rate: 5.95%
• Cash-on-cash: -1.24%
• DSCR: 0.94
• GRM: 10.7

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: 6.3%
• Equity multiple: 1.36×
• Total profit: $17,316
• Equity at exit: $76,394

10-year hold

• IRR: 9.2%
• Equity multiple: 2.39×
• Total profit: $66,008
• Equity at exit: $117,733

Cash invested: $47,572 (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 58282

• Active inventory: 6
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,326 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$135 /mo · $1,618/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$278
• Net cashflow: $-49

Break-even live

Break-even rent $1,388

Max offer price $161,236

Occupancy floor 99%

Sensitivity live

Price	-10% $47	-5% $-1	+0% $-49	+5% $-97	+10% $-145
Rent	-10% $-154	-5% $-101	+0% $-49	+5% $3	+10% $56
Rate	-1.0pp $37	-0.5pp $-6	base $-49	+0.5pp $-93	+1.0pp $-138

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $169,900 Active 44 DOM
2. 2026-06-21
   days on market $169,900 Active 43 DOM
3. 2026-06-18
   days on market $169,900 Active 41 DOM
4. 2026-06-17
   days on market $169,900 Active 40 DOM
5. 2026-06-16
   days on market $169,900 Active 39 DOM
6. 2026-06-15
   days on market $169,900 Active 38 DOM
7. 2026-06-13
   days on market $169,900 Active 36 DOM
8. 2026-06-12
   days on market $169,900 Active 35 DOM
9. 2026-06-09
   days on market $169,900 Active 32 DOM
10. 2026-06-08
    days on market $169,900 Active 31 DOM
11. 2026-06-07
    pricedays on market $169,900 Active 30 DOM
12. 2026-06-05
    days on market $180,000 Active 28 DOM
13. 2026-06-04
    days on market $180,000 Active 26 DOM
14. 2026-06-02
    days on market $180,000 Active 25 DOM
15. 2026-06-01
    days on market $180,000 Active 24 DOM
16. 2026-05-31
    days on market $180,000 Active 23 DOM
17. 2026-05-08
    listed $180,000 Active
18. 2022-10-17
    soldstatus $150,000
19. 2022-10-14
    soldstatus $150,000 324-char remark

    Show marketing remark (324 chars)

    Don't miss out on this beautiful older home in the heart of the Rendezvous Region. History and charm collide in this amazing home. Newer windows, Vinyl siding, original hardwood floors and a fully fenced back yard add to the flair and appeal. The year round recreation opportunities make this a great place to call home!!

20. 2022-08-13
    listed $158,000 324-char remark

    Show marketing remark (324 chars)

    Don't miss out on this beautiful older home in the heart of the Rendezvous Region. History and charm collide in this amazing home. Newer windows, Vinyl siding, original hardwood floors and a fully fenced back yard add to the flair and appeal. The year round recreation opportunities make this a great place to call home!!

21. 2022-01-06
    soldstatus $150,000
22. 2018-12-04
    soldstatus $123,500

ⓘ 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: $1,618 · $135/mo
• Projected year-2 tax: $1,665 · $139/mo
• Expected delta: +$47/yr (+$4/mo · 2.9%)

ⓘ 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 6/10 Major
• 🌡 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 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,912
• − Mortgage interest: −$9,517
• − Property taxes: −$1,618
• − Insurance: −$850
• − Repairs & maintenance: −$1,273
• − Management: −$1,273
• − Depreciation: −$4,943
• Taxable loss: −$3,561
• Est. tax savings @ 24.0%: +$855
• After-tax cash flow: $266/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: North Border 100
• NCES district ID: 3800054
• Math proficiency: 60% ▲ 15.00%
• Reading proficiency: 60% ▲ 10.00%
• Median HH income: $52,082
• Composite: 52.88/100
• National rank: #3288
• State rank: #11 of 169 in ND

Livability — Walhalla

• Score: 64/100
• State rank: #206
• US rank: #14330

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Walhalla, ND
• Population (ZIP): 1,240

Population outlook (Pembina County) Hauer SSP2

• Today (2025): 6,414 people
• By 2030: 6,060 · -5.5%
• By 2040: 5,383 · -16.1%
• By 2050: 4,925 · -23.2%
• By 2075: 5,025 · -21.7%
• By 2100: 6,293 · -1.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 7% Native American 6% Hispanic / Latino 5% Pacific Islander 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 16% Lithuanian 11% Slovak 2%
• Foreign-born: 5% · Canada
• Languages at home: 98% English-only · Other Asian/Pacific 1% German/W. Germanic 1%

Political lean MEDSL · Pembina

• 2024 margin: Solid R (+53.3) · D 22.8% · R 76.1% · Other 1.1%
• 2008→2024 swing: -46.4pp toward R · 2008: -6.9pp · 2024: -53.3pp
• All cycles: 2024: R+53.3 2020: R+50.2 2016: R+49.2 2012: R+20.1 2008: R+6.9

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

+45.7% since first listed

6 events — show timeline

• 2026-05-08 Listed $180,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-10-17 Sold (Public Records) $150,000 Public Records
• 2022-10-14 Sold (MLS) $150,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-08-13 Listed $158,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-01-06 Sold (Public Records) $150,000 Public Records
• 2018-12-04 Sold (Public Records) $123,500 Public Records

Property tax history

+4.5%/yr

Latest (2025): $1,618 · +17.3% YoY. Source: county tax records.