605 P St · Neligh, NE 68756

$50,000

2 bd · 1.0 ba · 1,043 sqft · SingleFamily public records · 45 Days on market

Built 1915 $48/sqft · 9% below area Est $55k · 9% under

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Why this score? — see what drove the A- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• ARV discount +11.4/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +8.3/10.0
• Schools +4.0/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Opportunity knocks with this 2-bedroom, 1-bath home packed with potential! Featuring convenient main floor laundry, this property offers a functional layout ready for your updates and vision. Step outside to a detached 1-car garage, perfect for added storage. Whether you're looking to flip, rent, or build equity, this property is a SOLID addition to your portfolio! With the right improvements, this home could SHINE—don’t miss your chance to turn potential into profit!

Key facts

• Garage
• Built 1915
• Listed 45 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $442 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($973 rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 79/100 on livability (#44 in NE, #2,260 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Neligh-Oakdale Schools (rural): math 45% / reading 45% proficiency, ranked #189 of 245 in NE (top 77%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Neligh-Oakdale High School (math 32% / reading 32%, grade F, #228 of 261 statewide, top 88%, 140 students, 49% FRL) — zoned schools average 49% FRL vs 31% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 32% at this address vs 45% district-wide (-13 pts) — the specific schools serving this property underperform the Neligh-Oakdale Schools average; the district grade overstates school quality for this exact location.
• Market conditions: 8 active listings in the ZIP; 13 units permitted in Antelope County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($346 loan paydown + $3k appreciation (6.7% local appreciation)).
• Antelope County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.7% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $27k; list at $50k implies a 85% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $48,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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.

Investment metrics

• 1% rule: 1.95% ✓
• Cap rate: 16.90%
• Cash-on-cash: 37.90%
• DSCR: 2.69
• GRM: 4.3

CMA / ARV

• ARV (median comp): $54,796
• List price: $50,000
• Delta: -8.75%
• Verdict: FAIR
• Comps: 4 within 1.0 mi

Projected returns pro-forma

6.69% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 48.8%
• Equity multiple: 4.19×
• Total profit: $44,682
• Equity at exit: $33,649

10-year hold

• IRR: 45.1%
• Equity multiple: 8.78×
• Total profit: $108,925
• Equity at exit: $63,033

Cash invested: $14,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 83 Strongly Landlord-Friendly
• State Nebraska: 83 Strongly Landlord-Friendly · R+13
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempted; moderate court pace.

Methodology + full state rankings →

ZIP-level market 68756

• Home prices YoY: 3.5%
• Active inventory: 8
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $973 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$43 /mo · $522/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$204
• Net cashflow: $442

Break-even live

Break-even rent $413

Max offer price $50,000

Occupancy floor 50%

Sensitivity live

Price	-10% $470	-5% $456	+0% $442	+5% $428	+10% $414
Rent	-10% $365	-5% $404	+0% $442	+5% $481	+10% $519
Rate	-1.0pp $467	-0.5pp $455	base $442	+0.5pp $429	+1.0pp $416

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-11
   status Pending 485-char remark

   Show marketing remark (485 chars)

   Opportunity knocks with this 2-bedroom, 1-bath home packed with potential! Featuring convenient main floor laundry, this property offers a functional layout ready for your updates and vision. Step outside to a detached 1-car garage, perfect for added storage. Whether you're looking to flip, rent, or build equity, this property is a SOLID addition to your portfolio! With the right improvements, this home could SHINE—don’t miss your chance to turn potential into profit!

2. 2026-03-26
   listed $50,000 Active 485-char remark

   Show marketing remark (485 chars)

   Opportunity knocks with this 2-bedroom, 1-bath home packed with potential! Featuring convenient main floor laundry, this property offers a functional layout ready for your updates and vision. Step outside to a detached 1-car garage, perfect for added storage. Whether you're looking to flip, rent, or build equity, this property is a SOLID addition to your portfolio! With the right improvements, this home could SHINE—don’t miss your chance to turn potential into profit!

3. 2014-07-23
   soldstatus $27,000
4. 2010-01-15
   soldstatus $23,000
5. 2007-07-05
   soldstatus $20,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NE · Resets to sale price

• Current annual tax: $522 · $43/mo
• Projected year-2 tax: $865 · $72/mo
• Expected delta: +$343/yr (+$29/mo · 65.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,675
• − Mortgage interest: −$2,801
• − Property taxes: −$522
• − Insurance: −$250
• − Repairs & maintenance: −$934
• − Management: −$934
• − Depreciation: −$1,455
• Taxable income: $4,780
• Est. tax owed @ 24.0%: −$1,147
• After-tax cash flow: $4,158/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Neligh-Oakdale Schools
• NCES district ID: 3174220
• Math proficiency: 45% ▼ -10.00%
• Reading proficiency: 45% ▼ -10.00%
• Median HH income: $41,663
• Composite: 40.07/100
• National rank: #7871
• State rank: #189 of 245 in NE

Livability — Neligh

• Score: 79/100
• State rank: #44
• US rank: #2260

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment C Housing A+ Health & safety A+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Neligh, NE
• Population (ZIP): 1,932

Population outlook (Antelope County) Hauer SSP2

• Today (2025): 5,898 people
• By 2030: 5,669 · -3.9%
• By 2040: 5,252 · -11.0%
• By 2050: 4,905 · -16.8%
• By 2075: 4,385 · -25.7%
• By 2100: 3,763 · -36.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 10% Two or more races 5%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Slovak 3% Portuguese 2% Danish 1%
• Foreign-born: 5% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 8%

Political lean MEDSL · Antelope

• 2024 margin: Solid R (+76.5) · D 11.5% · R 88.0%
• 2008→2024 swing: -25.4pp toward R · 2008: -51.0pp · 2024: -76.5pp
• All cycles: 2024: R+76.5 2020: R+73.7 2016: R+72.5 2012: R+62.8 2008: R+51.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.69%
• Current HPI: 196.4323
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 0.68%
• F500 in state: 2

Industry mix (Fortune 500 HQ in NE)

Industry	F500 HQs	Revenue
▸Conglomerate	1	$371B

Price history

+150.0% since first listed

5 events — show timeline

• 2026-05-11 Pending — NNEMLS
• 2026-03-26 Listed $50,000 NNEMLS
• 2014-07-23 Sold (Public Records) $27,000 Public Records
• 2010-01-15 Sold (Public Records) $23,000 Public Records
• 2007-07-05 Sold (Public Records) $20,000 Public Records

Property tax history

-0.1%/yr

Latest (2025): $522 · -1.7% YoY. Source: county tax records.