Real Estate Investing in Colfax, North Dakota (58018)
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Should you buy in 58018 (Colfax, ND)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
Structural challenges here. The numbers may look cheap but operational risk is high. Only for experienced, hands-on investors.
- Elevated vacancy: 11.5% vacancy may signal weakening demand.
- High price-to-rent: Price-to-rent ratio 34.4 — hard to cash-flow at these prices.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Colfax, ND (58018)?
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Market Analysis: 58018 Colfax
This part of Richland County is not an easy win. The 58018 ZIP registers softness in key indicators, and the playbook that works in cleaner markets often stalls here.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $405K asset, 58018 is the wrong submarket. If the plan prices in friction, the yield can still work.
Regionally, 58018 sits on the difficult end of the ND spectrum. The a credible choice for read — for disciplined operators — is that pricing reflects the difficulty.
Demographically, 58018 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.
The right play in 58018 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Colfax:
Market Trends
Home Value History (with trend line)
📊 How Does 58018 Compare?
| Metric | 58018 | Colfax | Wahpeton, ND-MN | North Dakota |
|---|---|---|---|---|
| Home Value | $405,462 | $405,462 | N/A | $278,677 |
| 5-Year CAGR | N/A | N/A | N/A | 3.7% |
| Avg Rent | $981 | $981 | N/A | - |
| Cap Rate | 1.9% | 1.9% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 58018 (Colfax, ND). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $405,462 |
| Monthly Rent | $981 |
| Price-to-Rent | 34.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 2.9% |
| Cap Rate | 1.9% |
| 5-Year IRR | 8.7% |
📈 Home Appreciation
| 1-Year | +6.9% ▲ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
| 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 (1.9%). 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 58018
Population: 481
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 58018
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
What strategy should investors use in Colfax, ND?
Investors usually favor careful cash-flow rentals with hands-on management in Colfax, ND. With home values at $405K and rents near $981/mo, other strategies can work but produce measured rather than outsized returns.
How strong is tenant demand in Colfax, ND?
Colfax, ND draws a reliable base of working renters. Demand at the $981/mo rent level is reasonable for standard single-family and small multi rentals.
What do landlords charge for rent in Colfax, ND?
Expect rents around $981/mo per month in Colfax, ND. With home values at $405K, the yield math works out to reasonable levels for rental investors.
How do home values compare in Colfax, ND?
In Colfax, ND the median home value sits at $405K. Against the broader ND market, that reads as reasonable for most investors.
Is vacancy a concern in Colfax, ND?
Expect elevated vacancy in Colfax, ND. Rents at $981/mo are absorbed by the tenant base without meaningful lag.
You know 58018 now. You don’t know where it ranks.
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How 58018 ranks in Wahpeton, ND-MN
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