Real Estate Investing in Horace, North Dakota (58051)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 58051 (Horace, ND)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High price-to-rent: Price-to-rent ratio 40.3 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Horace, ND (58051)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 58051 Horace
From a cash-flow lens, ZIP 58051 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $422K median. It rewards specialists, not generalists.
The investment case in 58051 is solid only for operators who understand what they are buying. A $422K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Within ND, ZIP 58051 trails on several market indicators that neighboring Cass County submarkets outperform. The gap is real and significant enough to shape underwriting.
Demographically, 58051 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 58051 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 Horace:
Market Trends
Home Value History (with trend line)
📊 How Does 58051 Compare?
| Metric | 58051 | Horace | Fargo, ND-MN | North Dakota |
|---|---|---|---|---|
| Home Value | $422,145 | $421,150 | N/A | $278,677 |
| 5-Year CAGR | 4.3% | 2.9% | N/A | 3.7% |
| Avg Rent | $873 | $1,424 | N/A | - |
| Cap Rate | 1.6% | 2.6% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 58051 (Horace, ND). Anonymous, moderated, never written by AI.
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Property managers serving Cass County
Manage rentals here? List your business →San Antonio Property Management has been proudly local since 1978. summary from their website
Prairie Property Management offers rental expertise in Fargo/West Fargo, Moorhead, Bismarck-Mandan, Watford City, and Williston. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $422,145 |
| Monthly Rent | $873 |
| Price-to-Rent | 40.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 2.5% |
| Cap Rate | 1.6% |
| 5-Year IRR | 5.9% |
📈 Home Appreciation
| 1-Year | +7.8% ▲ |
| 3-Year CAGR | +4.4% ▲ |
| 5-Year CAGR | +4.3% ▲ |
| 10-Year CAGR | +4.9% ▲ |
🏠 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 (1.6%). 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 58051
Population: 1,654
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 58051
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 it easy to find good tenants in Horace, ND?
The renter base in Horace, ND is reasonable for the $873/mo price point. Screening well and pricing to market typically yields predictable tenants.
What kind of market is Horace, ND for investors?
Investors tracking Horace, ND will find a 3.0/5 rating supported by $422K median home values and $873/mo rents. That profile suits long-term holders targeting steady returns.
What is the typical vacancy rate in Horace, ND?
Horace, ND vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
How do experienced investors play Horace, ND?
The best-fit strategy in Horace, ND is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
What is the average home sale price in Horace, ND?
Expect median prices around $422K in Horace, ND. The market has run at a 0.0% 5-year CAGR, so entry costs have been steady.
You know 58051 now. You don’t know where it ranks.
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How 58051 ranks in Fargo, ND-MN
Every ZIP in this metro, ranked. Free.
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