1115 2nd Ave S Fargo, ND 58103
Downtown Fargo NeighborhoodEstimated payment $3,856/month
Highlights
- 2 Car Attached Garage
- Clara Barton Elementary School Rated A-
- Baseboard Heating
About This Home
ATTENTION INVESTORS!
1115/1117 and 1121 are being offered together for a total of 10 units. This is a classic, operational value-add opportunity. Immediate upside can be captured simply by leasing up the remaining vacant units. The current owner has already done the heavy lifting—removing problematic tenants and turning all units rent-ready—positioning the next owner to benefit from increased occupancy and stabilized income. Tenants pay for electric heat!
Offered at $58,000 per unit ($580,000 total purchase price), this pair of properties represents a compelling entry point in a strong rental market.
At pro forma, the asset delivers attractive cash flow and significant upside.
Offer consists of two multifamily buildings, an ample paved parking lot, plus a 2-car detached garage.
Property Details
Home Type
- Apartment
Est. Annual Taxes
- $7,683
Year Built
- Built in 1902
Lot Details
- 6,970 Sq Ft Lot
- Lot Dimensions are 100x140
Parking
- 2 Car Attached Garage
- Driveway
- Parking Lot
- Unassigned Parking
Home Design
- 5,816 Sq Ft Home
- Aluminum Siding
Utilities
- Boiler Heating System
- Baseboard Heating
- Separate Meters
Community Details
- 10 Units
- Original Townsite Subdivision
Listing and Financial Details
- Assessor Parcel Number 01224001930000
- $3,150 per year additional tax assessments
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $4,223 | $120,750 | $17,500 | $103,250 |
| 2023 | $4,034 | $115,000 | $17,500 | $97,500 |
| 2022 | $3,643 | $100,000 | $17,500 | $82,500 |
| 2021 | $3,588 | $100,000 | $17,500 | $82,500 |
| 2020 | $3,716 | $107,000 | $17,500 | $89,500 |
| 2019 | $3,371 | $94,650 | $9,000 | $85,650 |
| 2018 | $3,305 | $94,650 | $9,000 | $85,650 |
| 2017 | $3,052 | $86,850 | $9,000 | $77,850 |
| 2016 | $2,847 | $86,850 | $9,000 | $77,850 |
| 2015 | $2,650 | $75,500 | $9,000 | $66,500 |
| 2014 | $2,485 | $67,850 | $9,000 | $58,850 |
| 2013 | $2,505 | $67,850 | $9,000 | $58,850 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 04/05/2025 04/05/25 | For Sale | $580,000 | +166.1% | $100 / Sq Ft |
| 07/22/2021 07/22/21 | Sold | -- | -- | -- |
| 07/16/2021 07/16/21 | Pending | -- | -- | -- |
| 11/24/2020 11/24/20 | For Sale | $218,000 | -- | $64 / Sq Ft |
Deed History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $350,000 | Regencytitle Fargo | |
| Trustee Deed | $139,000 | Fm Title |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $375,000 | New Conventional | |
| Previous Owner | $25,000 | Future Advance Clause Open End Mortgage | |
| Previous Owner | $108,000 | Future Advance Clause Open End Mortgage |
Source: Fargo-Moorhead Area Association of REALTORS®
MLS Number: 6698091
APN: 01-2240-01940-000
