Bismarck Multifamily Buyer
Sell Your Commercial Property In Bismarck, ND
Skyline Capital Investments buys commercial apartment buildings of 5+ units in Bismarck and across Burleigh County — listed or off-market, stabilized or value-add. Get clear feedback on your deal, typically within 48 hours.
- Clear feedback on your deal, typically within 48 hours
- 5 to 100+ units, stabilized or distressed, listed or off-market
- Owners, agents, and brokers welcome — every conversation is confidential
We buy:Tired landlordsEstate & trust sales1031 exchangesDeferred maintenanceHigh vacancyPartnership splits
Neighborhoods & Nearby Towns: Mandan · North Bismarck · Downtown Bismarck · Lincoln — Burleigh County, ND
Why Bismarck
Why We Buy Multifamily In Bismarck
Bismarck holds 96.1% of Burleigh County's renter households, per Census ACS 2020-2024 estimates. Renters occupy 34.5% of Bismarck's homes, and rental vacancy is 6.6%. Median gross rent is $999 a month, while HUD's FY2027 two-bedroom fair market rent is $1,067.
An owner who wants to sell commercial property in Bismarck, ND is selling into a market anchored by state government and two hospital systems. The State of North Dakota alone employed 4,456 people in Bismarck in 2025. Buildings of five or more units hold 27.6% of the housing stock.
This profile covers renters, rents against HUD benchmarks and the age of the apartment stock. It then works through Burleigh County tax math on a $2,000,000 building and the state rules on deposits and notices. We buy 5+ unit buildings in Downtown Bismarck, North Bismarck, Mandan and Lincoln. Each figure below is dated and linked to the official page it came from.
State government payroll
The State of North Dakota employed 4,456 people in Bismarck in 2025, or 9.87% of city employment. That ranks first in the City of Bismarck's FY2025 financial report.Hospitals and energy employers
Sanford Health (3,273 employees) and CHI St. Alexius (1,270) rank second and fourth among Bismarck employers in 2025, and Basin Electric Power Cooperative ranks tenth with 621.College and manufacturing jobs
Bismarck State College employed 1,122 people and Bobcat/Doosan 1,119 in 2025, ranking sixth and seventh in Bismarck. The college's count rose from 808 in 2016, per the city's report.Our Buy Box
What We Buy In Bismarck
Asset Type
Multifamily, 5+ Units
Apartment buildings and income-producing residential.
Size
5 – 100+ Units
Sweet spot: 15–25 units.
Condition
Stabilized To Distressed
Value-add, mismanaged, and high-vacancy properties welcome.
Deal Types
Listed Or Off-Market
Direct-to-owner, pocket listings, portfolios.
Local Market Data
Bismarck Apartment Market
Figures gathered October 2026 from public market data.
Who rents in Bismarck
Renters occupy 34.5% of Bismarck's 33,130 occupied homes, or 11,438 households, in Census ACS 2020-2024 tenure estimates. Burleigh County has a 28.8% renter share, and North Dakota has 37.1%. Bismarck holds 96.1% of Burleigh County's renter households, so county rental demand is concentrated inside city limits.
Bismarck had 75,556 residents in ACS 2020-2024, against 100,600 in Burleigh County. Bismarck's median household income was $78,387 in the same Census estimates. That sits below the county's $86,851 and above the statewide $76,657.
The State of North Dakota is Bismarck's largest employer, with 4,456 workers in 2025, per the City of Bismarck's FY2025 annual comprehensive financial report. Sanford Health ranks second with 3,273 employees, and CHI St. Alexius ranks fourth with 1,270. Basin Electric Power Cooperative ranks tenth with 621, the only energy employer in the 2025 top ten.
Rents and affordability in Bismarck
Bismarck's median gross rent was $999 a month in ACS 2020-2024, per Census table B25064. Burleigh County's median was $998, and North Dakota's was $954. Twelve months of median rent equal 15.3% of Bismarck's median household income.
Some 38.2% of Bismarck renters, or 4,366 households, paid 30% or more of income for rent, per Census table B25070. The share paying half or more of income was 18.2%. Statewide, 36.3% of renters paid 30% or more.
Under HUD's FY2027 fair market rents, effective October 1, 2026, a two-bedroom in the Bismarck, ND MSA is $1,067. That benchmark sits $68, or 6.8%, above Bismarck's all-unit median rent. The full schedule, from the HUD fair market rent documentation, is below.
| Unit size | HUD FY2027 FMR, Bismarck MSA |
|---|---|
| Studio | $865 |
| 1 bedroom | $927 |
| 2 bedroom | $1,067 |
| 3 bedroom | $1,477 |
| 4 bedroom | $1,696 |
The one-bedroom FMR of $927 falls $72 below the all-unit median. Compare in-place rents by unit size, not against the blended median.
Bismarck's apartment stock
Buildings with five or more units hold 9,746 of Bismarck's 35,361 housing units, or 27.6%, per Census table B25024. Burleigh County's share is 22.5%, and Bismarck contains 99.0% of the county's units in such buildings. Bismarck has 1,751 units in 5-9 unit buildings, 1,919 in 10-19, 3,075 in 20-49 and 3,001 in 50-plus.
Bismarck's median year built is 1985, per Census table B25034, against 1988 countywide and 1982 statewide. Units built before 1980 make up 44.3% of Bismarck's stock. Another 7,477 units, or 21.1%, date from 2010 or later.
Rental vacancy in Bismarck was 6.6% in ACS 2020-2024, per Census profile table DP04, below North Dakota's 8.3%. Owners who sell multifamily property in Bismarck compete with that post-2010 supply for buyer attention. Records of roof, boiler and window work help a pre-1980 building hold its price.
Property taxes in Burleigh County
A $2,000,000 apartment building inside Bismarck carries an estimated 2025 tax of $23,710 at 237.10 mills. N.D.C.C. 57-02-01 excludes structures with four or more family units from the residential class, so they are taxed as commercial. Under section 57-02-01(3), assessed value is 50% of true and full value, and section 57-02-27 sets commercial taxable value at 10% of that.
Bismarck's 237.10 mills come from the Burleigh County 2025 levy sheet. That total is 76.38 city mills, 106.46 Bismarck School District 1 mills, 32.09 park district mills and 22.17 state and county mills. Mandan levied 263.87 mills for 2025, per a comparison in the Bismarck assessor's report.
- True and full value: $2,000,000
- Assessed value at 50%: $1,000,000
- Commercial taxable value at 10% of assessed: $100,000
- Tax at 237.10 mills: $100,000 x 0.23710 = $23,710
- With the 5% early-payment discount: $22,524.50
That $23,710 equals 1.19% of value, matching the 2025 commercial effective tax rate in the City of Bismarck Assessing Division 2026 annual report. Burleigh County takes 5% off the consolidated tax when the full bill is paid by February 15, per its taxes and levies page. Special assessments for streets, sidewalks and utility lines appear on the same statement but sit outside the consolidated tax.
Bismarck's 2025 taxes became due January 1, 2026 and delinquent March 1, 2026. Owners appeal values to the City Board of Equalization, which meets within the first 15 days of April. A formal abatement for the 2026 assessment must be filed before November 1, 2028, per the city's assessment appeals page.
Bismarck's 2026 assessment roll totals $12,068,139,100 in market value, up 4.44% from 2025. Existing commercial property rose 1.05%, against 4.39% for existing residential. Before you sell commercial property in Bismarck, ND, compare the parcel's 2026 notice with that 1.05% commercial change.
Landlord rules in Bismarck
North Dakota caps most security deposits at one month's rent under N.D.C.C. 47-16-07.1. Two months is allowed for a tenant with a felony conviction or a prior rental-agreement judgment. Pet deposits may reach the greater of $2,500 or two months' rent.
Deposits must sit in a federally insured interest-bearing account. Owners have 30 days after the lease ends and the tenant leaves to deliver an itemized accounting. Withholding money without reasonable justification exposes the owner to treble damages.
Owners who sell commercial real estate in Bismarck, ND must transfer each tenant deposit and its accrued interest to the buyer under the same section. The seller stays liable until that transfer happens, so the deposit ledger belongs in the closing file.
Rent unpaid three days after it is due supports an eviction action under N.D.C.C. 47-32-01. Section 47-32-02 requires three days' written notice of intention to evict before filing. Month-to-month tenancies end on at least one calendar month's written notice under section 47-16-15.
Section 47-16-02.1 bars any political subdivision from controlling rent on private residential or commercial property. Bismarck sets habitability rules in Chapter 4-11 of its code, per its rental housing standards guide. The guide asks tenants to allow at least 10 days for an owner response before a written complaint, and it requires heat but not cooling.
What it means for a Bismarck owner
A Bismarck apartment building sells into 6.6% rental vacancy, a 1.19% commercial effective tax rate and no transfer tax. Article X, Section 27 of the North Dakota Constitution bars state and local taxes on the transfer of real property. The recorder will not record a deed until the auditor certifies taxes and special assessments are paid, under N.D.C.C. 11-18-02.
Bismarck's assessor counted 75 qualified commercial sales in 2025, with a median assessment-to-sale ratio of 0.9398. At that median, commercial assessments ran at 93.98% of sale prices, so treat an assessed value as a reference point, not a price.
If you plan to sell commercial property in Bismarck, ND, start with a trailing rent roll, the deposit ledger and the 2026 assessment notice. Then test your price in our cap rate calculator with a tax line scaled from the $23,710 example.
Skyline Capital Investments buys buildings of five or more units in Downtown Bismarck, North Bismarck, Mandan and Lincoln. To sell your apartment building in Bismarck, request an offer for your building, and read our guide to Bismarck apartment property taxes.
Good To Know
What Shapes A Bismarck Offer
More about selling in North Dakota →Investing in Bismarck? See apartment syndications in Bismarck →
- Buildings with four or more family units fall outside North Dakota's residential class, so Bismarck apartments are taxed as commercial on 5% of market value.
- Bismarck's 2025 levy is 237.10 mills, against 263.87 in Mandan, so the same building value carries a lower tax bill on the Bismarck side.
- Owners who sell multifamily property in Bismarck must hand tenant deposits and accrued interest to the buyer, or stay liable for them under N.D.C.C. 47-16-07.1.
- Before you sell commercial real estate in Bismarck, ND, clear current and delinquent taxes, because the recorder will not record a deed without the auditor's certificate.
Seller Guides
Bismarck Seller Situations
Learn More
Taxes & Rules For Bismarck Property
The North Dakota rules that shape any deal in Bismarck: what a sale costs in tax, how buildings are taxed, what landlords must follow, and how to defer gains.
Bismarck Seller FAQ
How do I sell commercial property in Bismarck, ND?
Gather a trailing twelve-month rent roll, operating statements, the deposit ledger and the 2026 assessment notice. Buildings with four or more family units are taxed as commercial property, and the 2025 Bismarck levy is 237.10 mills. Taxes must be current before the recorder accepts the deed, and North Dakota has no transfer tax. Skyline Capital Investments buys 5+ unit buildings in Bismarck, Mandan and Lincoln.
What is the property tax on a $2 million apartment building in Bismarck?
Commercial taxable value is 5% of market value, so a $2,000,000 building has a $100,000 taxable value. At the 2025 Bismarck levy of 237.10 mills, the tax is $23,710 before special assessments. Paying the full bill by February 15 earns a 5% discount, bringing it to $22,524.50. Values are set each February 1 and can be appealed to the City Board of Equalization in April.
Does Bismarck have rent control?
No. N.D.C.C. 47-16-02.1 bars a city or other political subdivision from enacting or enforcing an ordinance that controls rent on private residential or commercial property. Bismarck does set minimum habitability standards in Chapter 4-11 of its code, covering heat, plumbing, electrical systems, exits and pest elimination. Cooling is not required. State law sets the one-month deposit cap and the three-day nonpayment rule.
What should I check before I sell commercial real estate in Bismarck, ND?
Check three things. First, deposits: every tenant deposit and its interest must move to the buyer, and the seller stays liable until it does. Second, taxes: the recorder will not record the deed until the county auditor certifies that taxes and special assessments are paid. Third, the 2026 assessment, since an abatement for that year must be filed before November 1, 2028.
What do apartments rent for in Bismarck, ND?
Census ACS 2020-2024 estimates put Bismarck's median gross rent at $999 a month, close to Burleigh County's $998. HUD's FY2027 fair market rents for the Bismarck, ND MSA are $927 for a one-bedroom and $1,067 for a two-bedroom. Rental vacancy was 6.6%. Anyone selling commercial property in Bismarck should compare in-place rents with those benchmarks unit size by unit size.
What if my Bismarck building has vacancies or deferred maintenance?
That is often where we add the most value. We buy buildings that need renovation, new management, or lease-up, and we account for that in our offer.
Can I sell my Bismarck apartment building off-market?
Yes. We work directly with owners and through listing agents. Off-market conversations are confidential, and we coordinate tours so tenants and staff are not disrupted.
Can I sell rental property in Bismarck with tenants in place?
Yes. We buy apartment buildings with tenants in place and keep existing leases intact. As a commercial real estate buyer focused on 5+ unit properties, we underwrite the current rent roll as it stands.
Do I need a broker to sell my apartment building in Bismarck?
No. You can work with us directly, or your broker can bring the deal to us. Either way, conversations stay confidential.
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Have A Property In Bismarck?
Send the address, unit count, and asking price if you have one. We keep every conversation confidential.
