Real Estate Investing in Bowman, North Dakota (58623)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 58623 (Bowman, ND)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
Structural challenges here. The numbers may look cheap but operational risk is high. Only for experienced, hands-on investors.
- High vacancy: 27.2% of homes vacant — above national norms.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Bowman, ND (58623)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 58623 Bowman
ZIP 58623 inside Bowman County looks affordable on the surface — median value of $201K — but the discount exists for reasons that a careful buyer should understand before committing.
For an experienced owner, 58623 can be a an appealing option for hunting ground — but the discount at $201K reflects genuine risk that outside investors often underestimate.
Within ND, ZIP 58623 trails on several market indicators that neighboring Bowman County submarkets outperform. The gap is real and impressive enough to shape underwriting.
Demographically, 58623 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
Experienced landlords with local relationships tend to find 58623 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Bowman:
Market Trends
Home Value History (with trend line)
📊 How Does 58623 Compare?
| Metric | 58623 | Bowman | North Dakota |
|---|---|---|---|
| Home Value | $201,102 | $201,102 | $278,677 |
| 5-Year CAGR | 1.8% | 1.8% | 3.7% |
| Avg Rent | $783 | $783 | - |
| Cap Rate | 3.0% | 3.0% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 58623 (Bowman, ND). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $201,102 |
| Monthly Rent | $783 |
| Price-to-Rent | 21.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.7% |
| Cap Rate | 3.0% |
| 5-Year IRR | 4.8% |
📈 Home Appreciation
| 1-Year | +11.7% ▲ |
| 3-Year CAGR | +4.6% ▲ |
| 5-Year CAGR | +1.8% ▲ |
| 10-Year CAGR | N/A |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.0%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 58623
Population: 1,918
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 58623
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
Frequently Asked Questions
Is Bowman, ND a good place for real estate investing?
Yes - Bowman, ND a 2.0/5 investability score. With $201K home prices against $783/mo monthly rent, the market delivers a reasonable entry point for new investors.
How should investors approach Bowman, ND?
In Bowman, ND the sturdy play is typically careful cash-flow rentals with hands-on management. The combination of $201K prices and $783/mo rents suits that approach.
Are rents high in Bowman, ND?
Rents in Bowman, ND run near $783/mo. Compared with median home prices of $201K that produces solid gross yields for typical rentals.
Are eviction rules reasonable in Bowman, ND?
Bowman, ND falls under ND landlord-tenant law, which is landlord-friendly. That backdrop makes day-to-day property management reasonable.
Is it easy to find good tenants in Bowman, ND?
Tenant demand in Bowman, ND is solid. The local workforce $783/mo rents across most rental classes.
You know 58623 now. You don’t know where it ranks.
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