Real Estate Investing in Steele, North Dakota (58482)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 58482 (Steele, 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: 12.9% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 25.0 — hard to cash-flow at these prices.
• 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 Steele, ND (58482)?
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Market Analysis: 58482 Steele
Looking more closely, ZIP 58482 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $235K median. It rewards specialists, not generalists.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $235K asset, 58482 is the wrong submarket. If the plan prices in friction, the yield can still work.
The gap between 58482 and stronger Steele ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
Demographically, 58482 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
leans 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 Steele:
Market Trends
Home Value History (with trend line)
📊 How Does 58482 Compare?
| Metric | 58482 | Steele | North Dakota |
|---|---|---|---|
| Home Value | $234,864 | $234,864 | $278,677 |
| 5-Year CAGR | 3.3% | 3.3% | 3.7% |
| Avg Rent | $783 | $783 | - |
| Cap Rate | 2.6% | 2.6% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 58482 (Steele, ND). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $234,864 |
| Monthly Rent | $783 |
| Price-to-Rent | 25.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.0% |
| Cap Rate | 2.6% |
| 5-Year IRR | 5.9% |
📈 Home Appreciation
| 1-Year | +4.9% ▲ |
| 3-Year CAGR | +0.2% ▲ |
| 5-Year CAGR | +3.3% ▲ |
| 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 (2.6%). 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 58482
Population: 892
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 58482
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
How does Steele, ND stack up for property investment?
Yes - Steele, ND a 3.0/5 investability score. With $235K home prices against $783/mo monthly rent, the market delivers a reasonable entry point for new investors.
Are tenants stable in Steele, ND?
Steele, ND draws a stable base of working renters. Demand at the $783/mo rent level is reasonable for standard single-family and small multi rentals.
What are rental rates like in Steele, ND?
Average rent in Steele, ND is approximately $783/mo per month. Against $235K home values that yields a reasonable rent-to-price ratio.
Is vacancy a concern in Steele, ND?
Rental vacancy in Steele, ND is elevated. Investors should budget normal turnover but not chronic empty units.
Where do home prices stand in Steele, ND?
Steele, ND home values average about $235K. That price point suits investors targeting rentals with $783/mo in monthly income.
You know 58482 now. You don’t know where it ranks.
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