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Dear Real Estate Enthusiasts,

Every week, I will dive deep into the heart of Fargo, ND, to uncover the most promising real estate opportunities just for you. As part of the Midwest Invest Realty Group, I'm thrilled to bring you insider access to deals that redefine value and potential. Whether you're a first-time homebuyer, a seasoned investor, or somewhere in between, The “Real Deal” Fargo Newsletter is your gateway to exceptional living and investment opportunities in our beloved city.

This Week's Highlight: A Hidden Gem in Downtown Fargo 🏡

Address: 1125 Broadway N, Fargo, ND 58102 (MLS: 24-852)

Nestled in downtown Fargo, this charming 5-bedroom, 2-bathroom home offers the perfect blend of comfort, style, and convenience. With over 3,100 square feet of living space, a modern rustic, open-concept kitchen, and a beautifully manicured backyard, it's an ideal setting for both family life and entertaining.

Special Features Include:

• Spacious Master Suite: With a walk-in closet and an en-suite bathroom featuring a soaking tub and dual vanities.

• Energy-Efficient Appliances: Reducing utility bills while being kind to the planet.

• A spacious loft: A cozy getaway - perfect for those chilly Fargo winters.

• Detached Two-Car Garage: Offering plenty of storage space, and a long driveway.

Asking Price: $260,000 - An unbeatable offer in today's market, reflecting a significant opportunity for both immediate enjoyment and long-term investment.

Long-term Rental Scenario

Revenue:

• Average Monthly Rent: Assuming a conservative rent of $1,500 to $2,000 for a 5-bedroom home in a moderately competitive market.

Expenses:

• Mortgage: Assuming a 20% down payment ($52,000) and a 4% interest rate on a 30-year mortgage, the monthly payment is approximately $995.

• Property Management: 10% of monthly rent ($150 to $200).

• Maintenance and Repairs: Assuming 1% of property value annually, or about $217 monthly.

• Property Tax: This varies widely, but we'll estimate $250 per month.

• Insurance: Approximately $100 per month.

Net Income:

• Total Expenses: $995 + $150 + $217 + $250 + $100 = $1,712.

• Net Monthly Passive Income: $1,500 - $1,712 = -$212 (lower estimate) to $2,000 - $1,712 = $288 (higher estimate).

Short-term/Vacation Rental Scenario

Revenue:

• Average Daily Rate (ADR): $100 (varies by location and season).

• Occupancy Rate: 60% monthly (18 days).

• Monthly Revenue: $100 * 18 = $1,800.

Expenses:

• Mortgage: $995 (same as above).

• Property Management: Short-term rentals often have higher management fees, around 25% = $450.

• Maintenance, Repairs, and Supplies: Estimated at $300 (higher due to more frequent guest turnover).

• Property Tax: $250 (same as above).

• Insurance: Approximately $150 (higher for short-term rentals).

• Utilities and Internet: Assuming $250 (included for guests).

Net Income:

• Total Expenses: $995 + $450 + $300 + $250 + $150 + $250 = $2,395.

• Net Monthly Passive Income: $1,800 - $2,395 = -$595.

Summary

• Long-term rental offers a more stable and potentially profitable scenario, especially at the higher end of the rent estimate, with a net income ranging from -$212 to $288 per month. It's less management-intensive but may generate less income in high-demand tourist areas.

• Short-term/vacation rental could potentially generate more revenue during peak seasons, but it's more volatile, management-intensive, and the estimated expenses exceed the revenue in our calculation, leading to a net loss of -$595 per month. However, optimizing occupancy rates and ADR could turn this scenario profitable, particularly in high-demand areas.

SPECIAL NOTE: This report emphasizes the importance of conducting thorough market research, considering all possible expenses, and possibly consulting with a real estate professional to accurately assess the potential for passive income from a property. Adjustments to the rental strategy (e.g., increasing occupancy, adjusting rates, reducing expenses) can significantly impact the profitability of the investment.

WHY IS THIS DEAL IS THE “REAL DEAL”?

This $260,000 home located at 1125 Broadway N in downtown Fargo offers ample living space with 5 bedrooms and 2 bathrooms. Its central location provides easy access to the city's vibrant downtown area, making it a convenient choice for both families and professionals seeking proximity to local amenities and attractions.

📬 Stay Connected for More Gems Like This

The “Real Deal” Fargo Newsletter is your weekly snapshot of the most enticing real estate opportunities in Fargo, ND. If this week's deal has sparked your interest, imagine what we have in store for you moving forward.

Don't miss out on future finds! For more information on this property, to discuss your real estate needs, or to subscribe to our exclusive newsletter, reach out to me, Blaine Cook, at Midwest Invest Realty Group. I'm here to help you navigate Fargo's dynamic real estate market with ease and confidence.

📞 Contact Me Today:

• Email: [email protected]

• Phone: (701)-720-4719

• Subscribe: The “Real Deal” Fargo Newsletter

Together, let's unlock the door to your real estate dreams in Fargo.

Warmly,

Blaine Cook
Midwest Invest Realty Group
Your Trusted Real Estate Advisor in Fargo, ND