315 N 11th St

Geneva, NE 68361

$140,000D+

4 bd · 2.0 ba · 1,638 sqft · Built 1920 · SingleFamily · Pending · 57 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,219/mo
• Mortgage (P&I): −$734
• Tax + insurance: −$233
• HOA: −$0
• Vac / Maint / Mgmt: −$256
• Net cashflow: $-5/mo
• Annual: $-57/yr
• Cap rate: 6.25%
• Cash-on-cash: -0.15%
• DSCR: 0.99
• 1% rule: 0.87%
• Cash to close: $39,200

Investor read

• This is a 4-bed/2.0-bath single-family listed at $140k.
• At list price, monthly cash flow is $-5 ($-57/yr) — negative.
• To cash-flow at today's rent, offer at most $139k (0.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $122k (13.0% below list).
• It's been on market 57 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $122k (13.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $968 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 80/100 on livability (#28 in NE, #1,739 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F.
• Fillmore Central Public Schools (rural): math 56% / reading 54% proficiency, ranked #41 of 111 in NE (top 37%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Fillmore Central Elementary (math 57% / reading 57%, grade C+, #136 of 502 statewide, top 31%, 271 students, 27% FRL); Fillmore Central Middle School (math 52% / reading 52%, grade C+, #43 of 128 statewide, top 36%, 160 students, 43% FRL); Fillmore Central High School (math 64% / reading 54%, grade C+, #49 of 261 statewide, top 26%, 178 students, 38% FRL).
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 22 active listings in the ZIP; 10 units permitted in Fillmore County in 2024 (0 in 5+ unit buildings).
• Fillmore County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Current owner paid $25k; list at $140k implies a 460% gain — meaningful room to come down on a strong offer.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 57 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
• Built in 1920 — 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.