Real Estate Investing in Larimore, North Dakota (58251)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 58251 (Larimore, 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.
- Elevated vacancy: 10.5% vacancy may signal weakening demand.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Larimore, ND (58251)?
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Market Analysis: 58251 Larimore
ZIP 58251 inside Grand Forks County looks affordable on the surface — median value of $220K — but the discount exists for reasons that a careful buyer should understand before committing.
Looking more closely, the numbers look inviting — $220K purchase price, 0.0% nominal cap — the work to hit that pro forma in 58251 is substantial and deserves full respect.
Statewide comparisons place 58251 among ND's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Employment concentration in 58251 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Experienced landlords with local relationships tend to find 58251 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 Larimore:
Market Trends
Home Value History (with trend line)
📊 How Does 58251 Compare?
| Metric | 58251 | Larimore | Grand Forks, ND-MN | North Dakota |
|---|---|---|---|---|
| Home Value | $220,041 | $220,041 | N/A | $278,677 |
| 5-Year CAGR | 2.6% | 2.6% | N/A | 3.7% |
| Avg Rent | $945 | $945 | N/A | - |
| Cap Rate | 3.4% | 3.4% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 58251 (Larimore, ND). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $220,041 |
| Monthly Rent | $945 |
| Price-to-Rent | 19.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.2% |
| Cap Rate | 3.4% |
| 5-Year IRR | 6.0% |
📈 Home Appreciation
| 1-Year | +9.9% ▲ |
| 3-Year CAGR | +2.8% ▲ |
| 5-Year CAGR | +2.6% ▲ |
| 10-Year CAGR | +3.2% ▲ |
🏠 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 (3.4%). 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 58251
Population: 1,955
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 58251
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 vacancy a concern in Larimore, ND?
Rental vacancy in Larimore, ND is elevated. Investors should budget normal turnover but not chronic empty units.
Is housing expensive in Larimore, ND?
Larimore, ND home values average about $220K. That price point suits investors targeting rentals with $945/mo in monthly income.
Does Larimore, ND make sense for an investment property?
With a 3.0/5 investability score, Larimore, ND ranks as a solid market for rental property investors. Median prices of $220K and rents of $945/mo drive the underlying numbers.
Are landlord laws favorable in Larimore, ND?
Rental owners in Larimore, ND deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
What do landlords charge for rent in Larimore, ND?
Rent in Larimore, ND is around $945/mo. The resulting rent-to-value relationship with $220K pricing is reasonable for most investor models.
You know 58251 now. You don’t know where it ranks.
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How 58251 ranks in Grand Forks, ND-MN
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