Single Family Investment Properties for Sale in Devils Lake, ND
503- 4 Bed
- 3 Bath
- 3384 sft
308- 3 Bed
- 2 Bath
- 1092 sft
499- 5 Bed
- 4 Bath
- 3500 sft
598- 3 Bed
- 3 Bath
- 2880 sft
Why Invest in Devils Lake, North Dakota?
Single-family homes in Devils Lake, ND, offer stable investment opportunities in a small lakeside city with affordable entry points. Median home values hover around $225,000, below national averages, supporting solid cap rates near 7-8%. Renter-occupied units make up a significant portion of housing, with average rents at $989 monthly driving reliable cash flow. Annual appreciation has averaged 4.44% over the past decade, with recent yearly gains of 2.5-4%. Low vacancy concerns at 11.6% present potential for value-add strategies in this owner-renter mix market.
Frequently Asked Questions
Median home values for single-family properties are around $225,000-$235,000, below national averages. This affordability supports strong entry for investors seeking cap rates above 7%. Recent appreciation shows 4% yearly gains.
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