1330 N Main St

Henderson, NE 68371

$189,000C-

4 bd · 2.0 ba · 1,788 sqft · Built 1914 · SingleFamily · Pending · 24 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,271/mo
• Mortgage (P&I): −$991
• Tax + insurance: −$234
• HOA: −$0
• Vac / Maint / Mgmt: −$267
• Net cashflow: $-221/mo
• Annual: $-2,652/yr
• Cap rate: 4.89%
• Cash-on-cash: -5.01%
• DSCR: 0.78
• 1% rule: 0.67%
• Cash to close: $52,920

Investor read

• This is a 4-bed/2.0-bath single-family listed at $189k.
• At list price, monthly cash flow is $-221 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $150k (20.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $127k (32.8% below list).
• It's been on market 24 days — a 2% lower offer ($186k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $127k (32.8% below list) — sets the bar for 1% rule.
• In year one you build about $20k of equity ($1k loan paydown + $19k appreciation (10.0% local appreciation)).
• Location reads 77/100 on livability (#66 in NE, #2,981 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Heartland Community Schools (rural): math 70% / reading 60% proficiency, ranked #30 of 245 in NE (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Heartland Community Elementary (math 52% / reading 62%, grade C+, #136 of 502 statewide, top 31%, 197 students, 36% FRL); Heartland Community High Sch (math 72% / reading 57%, grade B-, #25 of 261 statewide, top 13%, 156 students, 29% FRL).
• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 9 active listings in the ZIP; 29 units permitted in York County in 2024 (0 in 5+ unit buildings).
• York County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts since 6y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• By year 2, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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?
• Built in 1914 — 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 A-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.