613 23rd Ave NW
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Nearby Schools
Educational options and performance ratings in the area.
Lewis And Clark Elementary School
Erik Ramstad Middle School
Souris River Campus Alternative High School
Property Overview
A stunning investment opportunity in a prime location. This property features modern amenities, spacious living areas, and strong rental potential.
Features & Amenities
Haven AI Verdict
Data provided by Haven AI. Disclaimer
Haven AI
This Minot property offers a significant footprint at a reasonable price per square foot, but the 7.01% gross yield is marginal for a secondary market with high operating expenses. In North Dakota, investors must account for elevated heating costs and property maintenance due to extreme weather. While the 5-bedroom configuration is ideal for military families from the nearby Minot Air Force Base, the conservative net cap rate likely sits around 4.5% after accounting for vacancy and management. Given current interest rates, this asset is likely cash-flow neutral or slightly negative with standard financing, relying heavily on the projected 4% appreciation which may be optimistic for the region.
- • High bedroom count (5) provides competitive advantage for military or large family rentals
- • Attractive price per square foot of approximately $108
- • Proximity to Minot Air Force Base provides a consistent potential tenant pool
- • Gross yield is insufficient to ensure positive cash flow in a high-interest-rate environment
- • High utility and seasonal maintenance costs typical of the North Dakota climate
- • Economic concentration risk due to heavy reliance on the energy sector and military spending
10-Year Price Projection
Price & Tax History
Price History
| Date | Event | Price | Price/sqft |
|---|---|---|---|
| 2026-03-04 | Listed for sale | $329,900 | $108 |
| 2026-03-02 | Contingent | $329,900 | $108 |
| 2025-11-13 | Price change | $329,900 | $108 |
| 2025-08-13 | Listed for sale | $332,900 | $109 |
| 2025-07-30 | Listing removed | $379,900 | $124 |
| 2025-07-01 | Price change | $379,900 | $124 |
| 2025-05-20 | Price change | $389,900 | $128 |
| 2024-12-11 | Listed for sale | $400,000 | $131 |
| 2024-12-11 | Listing removed | $400,000 | $131 |
| 2024-10-05 | Price change | $400,000 | $131 |
| 2024-07-26 | Price change | $408,000 | $134 |
| 2024-06-17 | Listed for sale | $418,000 | $137 |
Tax History
| Year | Property Tax | Tax Assessment |
|---|---|---|
| 2024 | $3,235.68 | $274,000 |
| 2023 | $2,442.16 | $269,000 |
| 2022 | $0 | $254,000 |
| 2021 | $1,926.86 | $245,000 |
| 2019 | $2,254.98 | $0 |
| 2018 | $2,155.92 | $113,000 |
| 2017 | $1,400.24 | $92,000 |
| 2016 | $1,429.06 | $105,000 |
| 2015 | $1,294.43 | $105,000 |
| 2014 | $1,294.43 | $101,500 |
| 2013 | $0 | $102,900 |
| 2012 | $0 | $91,900 |
| 2011 | $0 | $89,850 |
| 2010 | $0 | $42,350 |
| 2009 | $1,107.64 | $35,100 |
| 2008 | $1,080.56 | $28,500 |
| 2007 | $0 | $69,200 |
Investment Numbers & Operating Model
Standardized cash flow underwriting modeled with state tax schedules, regional insurance hazard risk, and disciplined operating reserves.
Multi-factor yield grade
NOI: $19,705/yr
On $75,877 invested
Negative debt coverage
Equity + cumulative cash
Monthly Cash Flow Breakdown
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