Real Estate Investing in Carrington, North Dakota (58421)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 58421 (Carrington, 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: 10.9% 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 Carrington, ND (58421)?
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Market Analysis: 58421 Carrington
The 58421 ZIP covers a section of Carrington that demands careful diligence. Prices near $201K look accessible, but the work to make a deal cash flow is real.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $201K asset, 58421 is the wrong submarket. If the plan prices in friction, the yield can still work.
Stepping back, 58421 offers a low basis, the region around Carrington has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Who lives in 58421 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
Distressed ZIPs reward experience. notable returns are possible in 58421, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Carrington:
Market Trends
Home Value History (with trend line)
📊 How Does 58421 Compare?
| Metric | 58421 | Carrington | North Dakota |
|---|---|---|---|
| Home Value | $200,702 | $200,702 | $278,677 |
| 5-Year CAGR | 2.2% | 2.2% | 3.7% |
| Avg Rent | $792 | $792 | - |
| Cap Rate | 3.1% | 3.1% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 58421 (Carrington, ND). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $200,702 |
| Monthly Rent | $792 |
| Price-to-Rent | 21.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.7% |
| Cap Rate | 3.1% |
| 5-Year IRR | 5.3% |
📈 Home Appreciation
| 1-Year | +6.6% ▲ |
| 3-Year CAGR | +3.6% ▲ |
| 5-Year CAGR | +2.2% ▲ |
| 10-Year CAGR | +2.2% ▲ |
🏠 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 (3.1%). 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 58421
Population: 3,043
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 58421
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
What monthly rent should investors expect in Carrington, ND?
Rental rates in Carrington, ND average $792/mo. Tenant demand and $201K home values make the yield look reasonable by investor standards.
Is it easy to find good tenants in Carrington, ND?
The renter base in Carrington, ND is reasonable for the $792/mo price point. Screening well and pricing to market typically yields consistent tenants.
What kind of market is Carrington, ND for investors?
Investors tracking Carrington, ND will find a 3.0/5 rating supported by $201K median home values and $792/mo rents. That profile suits long-term holders targeting stable returns.
What real estate strategy is ideal for Carrington, ND?
For Carrington, ND, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
Does house hacking work in Carrington, ND?
House hacking in Carrington, ND is reasonable to execute. Prices around $201K and rents of $792/mo solid owner-occupant economics.
You know 58421 now. You don’t know where it ranks.
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