304 Ford St

Filley, NE 68357

$92,900C

2 bd · 1.0 ba · 912 sqft · Built 1935 · SingleFamily · Active · 22 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $898/mo
• Mortgage (P&I): −$487
• Tax + insurance: −$103
• HOA: −$0
• Vac / Maint / Mgmt: −$189
• Net cashflow: $119/mo
• Annual: $1,427/yr
• Cap rate: 7.83%
• Cash-on-cash: 5.49%
• DSCR: 1.24
• 1% rule: 0.97%
• Cash to close: $26,012

Investor read

• This is a 2-bed/1.0-bath single-family listed at $93k.
• At list price, monthly cash flow is $119 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $90k (3.4% below list).
• It's been on market 22 days — a 2% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $90k (3.4% below list) — sets the bar for 1% rule.
• In year one you build about $3k of equity ($642 loan paydown + $3k appreciation (3.0% local appreciation)).
• Location reads 69/100 on livability (#241 in NE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: health & safety C-, amenities F, commute F.
• Freeman Public Schools (rural): math 63% / reading 56% proficiency, ranked #19 of 111 in NE (top 17%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 12% free/reduced lunch — higher-income household profile.
• Zoned schools: Freeman Elementary-Adams (math 62% / reading 52%, grade C+, #136 of 502 statewide, top 31%, 278 students, 18% FRL); Freeman High School (math 62% / reading 62%, grade B-, #39 of 261 statewide, top 18%, 199 students, 19% FRL).
• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 1 active listings in the ZIP; 41 units permitted in Gage County in 2024 (14 in 5+ unit buildings).
• Gage County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 2y 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.
• Current owner paid $78k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $26k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Built in 1935 — 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.