Real Estate Investing in Fargo, North Dakota (58104)
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Should you buy in 58104 (Fargo, 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 26.6 — hard to cash-flow at these prices.
What’s happening in Fargo, ND (58104)?
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Market Analysis: 58104 Fargo
ZIP 58104 inside Cass County looks affordable on the surface — median value of $410K — but the discount exists for reasons that a careful buyer should understand before committing.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 58104 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
ZIP 58104's metrics run below Cass County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
Resident income in 58104 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
Strategically, 58104 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Fargo:
Property Strategy for 58104
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 3BR | $323,473 | $1,810 | 4.0% | +4.9% | $107,824 |
| 4BR | $396,779 | $2,180 | 4.0% | +4.8% | $99,195 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 58104 Compare?
| Metric | 58104 | Fargo | Fargo, ND-MN | North Dakota |
|---|---|---|---|---|
| Home Value | $410,082 | $240,278 | N/A | $278,677 |
| 5-Year CAGR | 4.2% | 4.1% | N/A | 3.7% |
| Avg Rent | $1,287 | $1,061 | N/A | - |
| Cap Rate | 2.5% | 2.6% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 58104 (Fargo, 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 | $410,082 |
| Monthly Rent | $1,287 |
| Price-to-Rent | 26.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.8% |
| Cap Rate | 2.5% |
| 5-Year IRR | 6.7% |
📈 Home Appreciation
| 1-Year | +5.3% ▲ |
| 3-Year CAGR | +2.9% ▲ |
| 5-Year CAGR | +4.2% ▲ |
| 10-Year CAGR | +3.4% ▲ |
🏠 Rent Trends
| 1-Year | +2.9% ▲ |
| 3-Year CAGR | +4.4% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.5%). 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 58104
Population: 47,481
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 58104
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.
🎓 Nearby Colleges & Universities
Investor Insight: With 632 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What are home prices like in Fargo, ND?
The median home value in Fargo, ND is roughly $410K. That puts it reasonable relative to the ND statewide average.
What kind of vacancy should I budget for in Fargo, ND?
Fargo, ND vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
Are renters plentiful in Fargo, ND?
Fargo, ND draws a measured base of working renters. Demand at the $1,287/mo rent level is reasonable for standard single-family and small multi rentals.
What is the smart move for investors in Fargo, ND?
In Fargo, ND the significant play is typically careful cash-flow rentals with hands-on management. The combination of $410K prices and $1,287/mo rents suits that approach.
What is the investability score for Fargo, ND?
Fargo, ND sits at an investability rating of 3.0/5, with median home values near $410K and average rents around $1,287/mo. That combination puts it in the significant tier for investor interest.
You know 58104 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 58104 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 58104 ranks in Fargo, ND-MN
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