732 Lincoln Ave NW · Minot, ND 58703

$175,000

4 bd · 2.5 ba · 2,088 sqft · SingleFamily public records · 67 Days on market

Built 1928 Est $242k · 28% under

---

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).

• ARV discount +15.0/15.0
• Cash flow +12.3/30.0
• Rent growth +3.9/5.0
• Schools +3.8/10.0
• Livability +3.8/5.0
• DSCR +3.7/10.0
• 1% rule +3.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Do you need A LOT of bedrooms, SIX to be exact, this home is perfect! This home is located on a corner lot and has been completely remodeled. On the main floor there is a large mud room, living area, dining room, and a smaller kitchen. However, the kitchen is right off a large dining room that you could add cabinets in or remove the wall between it and make a HUGE kitchen!! There are also 2 bedrooms and 1 bath on the main, 2 bedrooms upstairs, and 2 bedrooms and another bath downstairs. A total of 6 bedrooms, 2 bathrooms, a laundry room with lots of cabinets, and a few storage rooms! There is also an attached garage with additional parking next to it, and a fenced yard! The roof is BRAND new as of July 2022, fresh paint upstairs, and it is ready for you to move in!

Key facts

• Garage
• Built 1928
• Listed 66 days

Tags

• CLEANUP AND COSMETIC UPDATES
• FRONT DECK REPLACEMENT
• ESTABLISHED NEIGHBORHOOD

Property features AI

Exterior

• Parking: Concrete driveway/parking; 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Below-grade finished area (basement) present
• Exterior features: Public water; Public sewer; Zoned R3B

Interior

• Kitchen: Dishwasher; Microwave; Range / Oven; Refrigerator
• Heating & cooling: Central air conditioning; Forced air heating (natural gas)
• Interior features: Finished full basement; Dishwasher; Microwave; Range / Oven; Refrigerator

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $-31 ($-369/yr) — negative.
• To cash-flow at today's rent, offer at most $170k (3.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $148k (15.4% below list).
• Recommended offer: $148k (15.4% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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: Mckinley Elementary School (math 24% / reading 24%, grade F, #204 of 236 statewide, top 91%, 81 students, 60% FRL); Erik Ramstad Middle School (math 45% / reading 49%, grade D+, #11 of 35 statewide, top 29%, 689 students, 32% FRL); Magic City Campus High School (933 students, 22% FRL).
• Market conditions: Rents rising fast (+5.7%/yr); 146 active listings in the ZIP; solid renter incomes; 123 units permitted in Ward 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 $5k 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

• It's been on market 67 days — a 6% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $15k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $148,083 (15.4% 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 67 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.85% ✗
• Cap rate: 6.08%
• Cash-on-cash: -0.75%
• DSCR: 0.97
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $242,208
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
431 7th St NW	0.11mi	4/3.0	1,899 (-9%)	1mo	$336,000	$177	77
718 3rd St NW	0.34mi	4/2.0	2,011 (-4%)	2mo	$210,000	$104	74
909 2nd Ave NW	0.38mi	3/3.0 (-1)	2,117 (+1%)	5mo	$245,000	$116	69
907 2nd st St NE	0.70mi	4/2.0	2,068 (-1%)	3mo	$275,000	$133	62
908 1st Ave Ave NW	0.42mi	3/2.0 (-1)	2,244 (+8%)	1mo	$265,000	$118	60
807 8th St NW	0.13mi	5/3.0 (+1)	2,384 (+14%)	4mo	$250,000	$105	60
523 16th St NW	0.64mi	3/1.0 (-1)	2,086 (-0%)	1mo	$226,450	$109	58
804 11th St NW	0.31mi	3/2.0 (-1)	2,359 (+13%)	1mo	$186,500	$79	56
917 4th Ave. Ave NW	0.27mi	3/3.0 (-1)	2,387 (+14%)	2mo	$164,000	$69	55
800 17th St NW	0.69mi	4/2.0	1,824 (-13%)	1mo	$282,000	$155	44
1000 17th St NW	0.72mi	3/2.0 (-1)	1,880 (-10%)	3mo	$280,000	$149	41
9 Shirley Ct	0.57mi	3/1.8 (-1)	1,824 (-13%)	4mo	$210,000	$115	40

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 · 5.74% rent growth · sell at horizon

5-year hold

• IRR: -14.5%
• Equity multiple: 0.47×
• Total profit: $-26,107
• Equity at exit: $26,093

10-year hold

• IRR: -1.9%
• Equity multiple: 0.86×
• Total profit: $-6,983
• Equity at exit: $15,131

Cash invested: $49,000 (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 58703

• Rents YoY: 5.7%
• Active inventory: 146
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,481 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$210 /mo · $2,520/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$311
• Net cashflow: $-31

Break-even live

Break-even rent $1,520

Max offer price $169,561

Occupancy floor 97%

Sensitivity live

Price	-10% $68	-5% $19	+0% $-31	+5% $-80	+10% $-130
Rent	-10% $-148	-5% $-89	+0% $-31	+5% $28	+10% $86
Rate	-1.0pp $57	-0.5pp $14	base $-31	+0.5pp $-76	+1.0pp $-122

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $175,000 Active 67 DOM
2. 2026-06-18
   days on market $175,000 Active 66 DOM
3. 2026-06-17
   days on market $175,000 Active 65 DOM
4. 2026-06-16
   days on market $175,000 Active 64 DOM
5. 2026-06-15
   days on market $175,000 Active 63 DOM
6. 2026-06-14
   days on market $175,000 Active 61 DOM
7. 2026-06-13
   price $175,000 Active 60 DOM
8. 2026-06-12
   days on market $189,900 Active 60 DOM
9. 2026-06-09
   days on market $189,900 Active 57 DOM
10. 2026-06-08
    days on market $189,900 Active 56 DOM
11. 2026-06-07
    days on market $189,900 Active 55 DOM
12. 2026-06-02
    days on market $189,900 Active 50 DOM
13. 2026-06-01
    days on market $189,900 Active 49 DOM
14. 2026-05-31
    days on market $189,900 Active 48 DOM
15. 2026-05-30
    days on market $189,900 Active 47 DOM
16. 2026-04-13
    listed $189,900 Active
17. 2023-03-30
    soldstatus 776-char remark

    Show marketing remark (776 chars)

    Do you need A LOT of bedrooms, SIX to be exact, this home is perfect! This home is located on a corner lot and has been completely remodeled. On the main floor there is a large mud room, living area, dining room, and a smaller kitchen. However, the kitchen is right off a large dining room that you could add cabinets in or remove the wall between it and make a HUGE kitchen!! There are also 2 bedrooms and 1 bath on the main, 2 bedrooms upstairs, and 2 bedrooms and another bath downstairs. A total of 6 bedrooms, 2 bathrooms, a laundry room with lots of cabinets, and a few storage rooms! There is also an attached garage with additional parking next to it, and a fenced yard! The roof is BRAND new as of July 2022, fresh paint upstairs, and it is ready for you to move in!

18. 2023-03-24
    soldstatus $154,900
19. 2023-01-05
    listed $159,900 776-char remark

    Show marketing remark (776 chars)

    Do you need A LOT of bedrooms, SIX to be exact, this home is perfect! This home is located on a corner lot and has been completely remodeled. On the main floor there is a large mud room, living area, dining room, and a smaller kitchen. However, the kitchen is right off a large dining room that you could add cabinets in or remove the wall between it and make a HUGE kitchen!! There are also 2 bedrooms and 1 bath on the main, 2 bedrooms upstairs, and 2 bedrooms and another bath downstairs. A total of 6 bedrooms, 2 bathrooms, a laundry room with lots of cabinets, and a few storage rooms! There is also an attached garage with additional parking next to it, and a fenced yard! The roof is BRAND new as of July 2022, fresh paint upstairs, and it is ready for you to move in!

20. 2012-03-26
    soldstatus
21. 2006-07-03
    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: $2,520 · $210/mo
• Projected year-2 tax: $2,520 · $210/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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: $17,770
• − Mortgage interest: −$9,803
• − Property taxes: −$2,520
• − Insurance: −$875
• − Repairs & maintenance: −$1,422
• − Management: −$1,422
• − Depreciation: −$5,091
• Taxable loss: −$3,362
• Est. tax savings @ 24.0%: +$807
• After-tax cash flow: $437/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): 22,139
• Household income: $82,728
• Rent vs Own: 39.0% rent · 61.0% own
• Severe rent burden: 543.0

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 9% Two or more races 8% Black 6% Asian 1%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Portuguese 20% Lithuanian 3% Scottish 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2%

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: ▼ -203.01%
• Current HPI: 138.9083
• Rent YoY: ▲ 5.74%
• 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

+18.8% since first listed

6 events — show timeline

• 2026-04-13 Listed $189,900 MMLS
• 2023-03-30 Sold (MLS) — MMLS
• 2023-03-24 Sold (Public Records) $154,900 Public Records
• 2023-01-05 Listed $159,900 MMLS
• 2012-03-26 Sold (Public Records) — Public Records
• 2006-07-03 Sold (Public Records) — Public Records

Property tax history

+5.5%/yr

Latest (2025): $2,520 · -0.9% YoY. Source: county tax records.