Real Estate Investing in Devils Lake, North Dakota (58301)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 58301 (Devils Lake, ND)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 12.7% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 26.3 — 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 Devils Lake, ND (58301)?
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Market Analysis: 58301 Devils Lake
Investors eyeing 58301 need to respect the fundamentals at play. Home values of $247K come alongside slower price movement and elevated management overhead.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 58301 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
ZIP 58301's metrics run below Ramsey County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
Meanwhile, 10,046 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
The right play in 58301 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Devils Lake:
Market Trends
Home Value History (with trend line)
📊 How Does 58301 Compare?
| Metric | 58301 | Devils Lake | North Dakota |
|---|---|---|---|
| Home Value | $247,368 | $247,368 | $278,677 |
| 5-Year CAGR | 3.0% | 3.0% | 3.7% |
| Avg Rent | $783 | $783 | - |
| Cap Rate | 2.5% | 2.5% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 58301 (Devils Lake, ND). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $247,368 |
| Monthly Rent | $783 |
| Price-to-Rent | 26.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.8% |
| Cap Rate | 2.5% |
| 5-Year IRR | 5.5% |
📈 Home Appreciation
| 1-Year | +6.0% ▲ |
| 3-Year CAGR | +3.7% ▲ |
| 5-Year CAGR | +3.0% ▲ |
| 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 (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 58301
Population: 10,046
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 58301
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 585 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How do home values compare in Devils Lake, ND?
The median home value in Devils Lake, ND is roughly $247K. That puts it reasonable relative to the ND statewide average.
What is the tenant pool like in Devils Lake, ND?
Devils Lake, ND draws a even-keeled base of working renters. Demand at the $783/mo rent level is reasonable for standard single-family and small multi rentals.
Is ND a landlord-friendly state?
ND law landlord-friendly for landlords, and Devils Lake inherits those rules. Investors should still review local ordinances for rental licensing.
What investment strategy works best in Devils Lake, ND?
Investors usually favor careful cash-flow rentals with hands-on management in Devils Lake, ND. With home values at $247K and rents near $783/mo, other strategies can work but produce consistent rather than outsized returns.
What is the average monthly rent in Devils Lake, ND?
Investors in Devils Lake, ND typically see rents near $783/mo per month against $247K home values - a solid setup for rental cash flow.
You know 58301 now. You don’t know where it ranks.
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