2621 7th St

Columbus, NE 68601

$187,500C+

4 bd · 2.0 ba · 1,600 sqft · Built 1952 · SingleFamily · Active · 49 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,135/mo
• Mortgage (P&I): −$983
• Tax + insurance: −$269
• HOA: −$0
• Vac / Maint / Mgmt: −$448
• Net cashflow: $435/mo
• Annual: $5,215/yr
• Cap rate: 9.07%
• Cash-on-cash: 9.93%
• DSCR: 1.44
• 1% rule: 1.14%
• Cash to close: $52,500

Investor read

• This is a 4-bed/2.0-bath single-family listed at $188k.
• At list price, monthly cash flow is $435 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $188k).
• It's been on market 49 days — a 3% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $182k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 80/100 on livability (#20 in NE, #1,633 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities D-, commute F.
• Columbus Public Schools (town): math 39% / reading 43% proficiency, ranked #93 of 111 in NE (top 84%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 301 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 98 units permitted in Platte County in 2024 (17 in 5+ unit buildings).
• Platte County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 3 sale attempts since 7y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $134k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Cap rate 9.1% vs local median 3.3% in Columbus — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1952 — 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.
• 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.