Real Estate Investing in Emerado, North Dakota (58228)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 58228 (Emerado, 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.
- High vacancy: 25.3% of homes vacant — above national norms.
- Flat appreciation: Values have barely moved over 5 years (0.7% CAGR).
• 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 Emerado, ND (58228)?
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Market Analysis: 58228 Emerado
Turning to rents, ZIP 58228 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $234K median. It rewards specialists, not generalists.
Looking more closely, the numbers look inviting — $234K purchase price, 0.0% nominal cap — the work to hit that pro forma in 58228 is substantial and deserves full respect.
Statewide comparisons place 58228 among ND's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Resident income in 58228 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
looks to the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Emerado:
Market Trends
Home Value History (with trend line)
📊 How Does 58228 Compare?
| Metric | 58228 | Emerado | Grand Forks, ND-MN | North Dakota |
|---|---|---|---|---|
| Home Value | $233,798 | $233,798 | N/A | $278,677 |
| 5-Year CAGR | 0.7% | 0.7% | N/A | 3.7% |
| Avg Rent | $873 | $873 | N/A | - |
| Cap Rate | 2.9% | 2.9% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 58228 (Emerado, ND). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $233,798 |
| Monthly Rent | $873 |
| Price-to-Rent | 22.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.5% |
| Cap Rate | 2.9% |
| 5-Year IRR | 3.6% |
📈 Home Appreciation
| 1-Year | +9.7% ▲ |
| 3-Year CAGR | +2.4% ▲ |
| 5-Year CAGR | +0.7% ▲ |
| 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 (2.9%). 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 58228
Population: 687
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 58228
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
Frequently Asked Questions
How does Emerado, ND stack up for property investment?
Emerado, ND clocks in at an investability rating of 2.0/5, with median home values near $234K and average rents around $873/mo. That combination puts it in the resilient tier for investor interest.
Where do rents currently stand in Emerado, ND?
The typical rental in Emerado, ND commands about $873/mo monthly. That rent profile predictable cash flow against the $234K purchase basis.
Do landlords face vacancy issues in Emerado, ND?
Expect elevated vacancy in Emerado, ND. Rents at $873/mo are absorbed by the tenant base without meaningful lag.
Is Emerado, ND a good market for FHA house hackers?
Emerado, ND is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $234K price point reasonable to enter.
How do home values compare in Emerado, ND?
In Emerado, ND the median home value sits at $234K. Against the broader ND market, that reads as reasonable for most investors.
You know 58228 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 58228 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 58228 ranks in Grand Forks, ND-MN
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