110 First St

Bloomfield, NE 68718

$54,900A-

4 bd · 1.0 ba · 1,430 sqft · Built 1899 · SingleFamily · Pending · 12 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,322/mo
• Mortgage (P&I): −$288
• Tax + insurance: −$77
• HOA: −$0
• Vac / Maint / Mgmt: −$278
• Net cashflow: $680/mo
• Annual: $8,161/yr
• Cap rate: 21.16%
• Cash-on-cash: 53.09%
• DSCR: 3.36
• 1% rule: 2.41%
• Cash to close: $15,372

Investor read

• This is a 4-bed/1.0-bath single-family listed at $55k.
• At list price, monthly cash flow is $680 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $2k of equity ($380 loan paydown + $2k appreciation (3.0% local appreciation)).
• Location reads 72/100 on livability (#170 in NE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities F, commute F.
• Bloomfield Community Schools (rural): math 65% / reading 65% proficiency, ranked #36 of 245 in NE (top 15%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Bloomfield Elementary School (math 72% / reading 62%, grade B+, #64 of 502 statewide, top 14%, 135 students, 48% FRL); Bloomfield Jr-Sr High School (math 62% / reading 57%, grade C+, #49 of 261 statewide, top 26%, 136 students, 45% FRL) — zoned schools average 46% FRL vs 28% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1899 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 3 active listings in the ZIP; 36 units permitted in Knox County in 2024 (0 in 5+ unit buildings).
• Knox County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Current owner paid $45k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1899 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.