Real Estate Investing in Ray, North Dakota (58849)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 58849 (Ray, ND)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
Structural challenges here. The numbers may look cheap but operational risk is high. Only for experienced, hands-on investors.
- High vacancy: 23.1% of homes vacant — above national norms.
- Declining values: -1.7% 5-year CAGR — values have moved lower.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Ray, ND (58849)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 58849 Ray
Investors eyeing 58849 need to respect the fundamentals at play. Home values of $267K come alongside slower price movement and elevated management overhead.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $267K asset, 58849 is the wrong submarket. If the plan prices in friction, the yield can still work.
The gap between 58849 and stronger Ray ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
A healthy renter share of 26% in 58849 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
The right play in 58849 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 Ray:
Market Trends
Home Value History (with trend line)
📊 How Does 58849 Compare?
| Metric | 58849 | Ray | North Dakota |
|---|---|---|---|
| Home Value | $267,043 | $267,043 | $278,677 |
| 5-Year CAGR | N/A | N/A | 3.7% |
| Avg Rent | $936 | $936 | - |
| Cap Rate | 2.7% | 2.7% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 58849 (Ray, ND). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 58849 (Ray, ND)?
~25 seconds · no account needed · your report is anonymous
📊 Market Snapshot
| Home Value | $267,043 |
| Monthly Rent | $936 |
| Price-to-Rent | 23.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.2% |
| Cap Rate | 2.7% |
| 5-Year IRR | 1.0% |
📈 Home Appreciation
| 1-Year | +5.2% ▲ |
| 3-Year CAGR | +0.1% ▲ |
| 5-Year CAGR | -1.7% ▼ |
| 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 (2.7%). 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 58849
Population: 1,119
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 58849
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 is the smart move for investors in Ray, ND?
Most investors in Ray, 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.
What monthly rent should investors expect in Ray, ND?
Rental rates in Ray, ND average $936/mo. Tenant demand and $267K home values make the yield look reasonable by investor standards.
Are there empty rentals in Ray, ND?
Vacancy in Ray, ND is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $936/mo.
What price range are homes in Ray, ND?
Median home price in Ray, ND is near $267K, with a 5-year CAGR of 0.0%. Prices have been stable and supportive of buy-and-hold strategies.
How viable is house hacking in Ray, ND?
House hacking in Ray, ND is a challenging. With home values around $267K and rents at $936/mo, owner-occupants can offset a meaningful share of PITI.
You know 58849 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 58849 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
AI Market Advisor
Ask questions about investing in 58849 (Ray)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 58849 (Ray, ND).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.