Real Estate Investing in Thompson, North Dakota (58278)
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Should you buy in 58278 (Thompson, ND)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
Structural challenges here. The numbers may look cheap but operational risk is high. Only for experienced, hands-on investors.
- High price-to-rent: Price-to-rent ratio 37.0 — 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 Thompson, ND (58278)?
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Market Analysis: 58278 Thompson
Not every below-median market is a bargain. Thompson's 58278 ZIP shows signals that favor experienced operators who can absorb the risk $387K pricing implies.
The 58278 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
Nearby ZIPs in Thompson have seen price recovery that 58278 has not matched. Grand Forks County data supports the view that the spread is structural rather than temporary.
The 58278 ZIP's population of 2,116 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that shows the need for careful underwriting.
The 58278 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Thompson:
Market Trends
Home Value History (with trend line)
📊 How Does 58278 Compare?
| Metric | 58278 | Thompson | Grand Forks, ND-MN | North Dakota |
|---|---|---|---|---|
| Home Value | $387,210 | $387,210 | N/A | $278,677 |
| 5-Year CAGR | 1.7% | 1.7% | N/A | 3.7% |
| Avg Rent | $873 | $873 | N/A | - |
| Cap Rate | 1.8% | 1.8% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 58278 (Thompson, ND). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $387,210 |
| Monthly Rent | $873 |
| Price-to-Rent | 37.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 2.7% |
| Cap Rate | 1.8% |
| 5-Year IRR | 3.4% |
📈 Home Appreciation
| 1-Year | +9.1% ▲ |
| 3-Year CAGR | +2.6% ▲ |
| 5-Year CAGR | +1.7% ▲ |
| 10-Year CAGR | +2.8% ▲ |
🏠 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 (1.8%). 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 58278
Population: 2,116
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 58278
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 should investors approach Thompson, ND?
Most investors in Thompson, ND run a careful cash-flow rentals with hands-on management strategy. It aligns with the 2.0/5 investability profile and the market fundamentals.
How expensive is real estate in Thompson, ND?
Median home price in Thompson, ND is near $387K, with a 5-year CAGR of 0.0%. Prices have been even-keeled and supportive of buy-and-hold strategies.
Does Thompson, ND make sense for an investment property?
With a 2.0/5 investability score, Thompson, ND ranks as a solid market for rental property investors. Median prices of $387K and rents of $873/mo drive the underlying numbers.
Is vacancy a concern in Thompson, ND?
Rental vacancy in Thompson, ND is elevated. Investors should budget normal turnover but not chronic empty units.
How do landlord-tenant laws work in Thompson, ND?
ND law landlord-friendly for landlords, and Thompson inherits those rules. Investors should still review local ordinances for rental licensing.
You know 58278 now. You don’t know where it ranks.
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How 58278 ranks in Grand Forks, ND-MN
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