1803 Broadway St · Mitchell, NE 69357

$120,000

3 bd · 1.0 ba · 1,108 sqft · SingleFamily public records · 30 Days on market

Built 1915 0.45 ac lot Est $136k · 12% under

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Why this score? — see what drove the C- 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 +16.8/30.0
• ARV discount +12.9/15.0
• DSCR +5.2/10.0
• Schools +4.7/10.0
• 1% rule +4.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• 0.45 acre lot
• 2 garage spots
• Built 1915

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $77 ($927/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 $108k (9.8% below list).
• Recommended offer: $108k (9.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 76/100 on livability (#93 in NE, #3,761 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Mitchell Public Schools (rural): math 52% / reading 60% proficiency, ranked #36 of 111 in NE (top 32%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 24 active listings in the ZIP; 33 units permitted in Scotts Bluff County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Scotts Bluff County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($118k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $108,270 (9.8% below list)

Questions for the listing agent

1. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.90% ✗
• Cap rate: 7.07%
• Cash-on-cash: 2.76%
• DSCR: 1.12
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $136,284
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1439 18th Ave	0.07mi	3/1.0	1,000 (-10%)	8mo	$105,000	$105	74
1739 Center Ave	0.26mi	2/1.0 (-1)	1,176 (+6%)	1mo	$165,000	$140	72
1057 Center Ave	0.46mi	3/1.0	1,056 (-5%)	1mo	$130,000	$123	70
1438 17th Ave	0.08mi	2/1.0 (-1)	1,196 (+8%)	10mo	$125,000	$105	70
1426 17th Ave	0.10mi	3/1.0	1,260 (+14%)	10mo	$160,000	$127	64
1754 14th St	0.14mi	3/1.0	1,196 (+8%)	21mo	$140,000	$117	63
1526 Center Ave	0.17mi	3/2.0	1,212 (+9%)	12mo	$165,000	$136	62
1409 18th Ave	0.11mi	3/2.0	988 (-11%)	15mo	$164,000	$166	60
1803 21st St	0.36mi	3/2.0	1,236 (+12%)	2mo	$265,000	$214	58
40063 Willow Dr	0.66mi	3/1.0	1,080 (-2%)	24mo	$65,000	$60	45
1133 16th St	0.46mi	4/1.0 (+1)	1,196 (+8%)	18mo	$130,000	$109	45

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -12.0%
• Equity multiple: 0.57×
• Total profit: $-14,540
• Equity at exit: $17,892

10-year hold

• IRR: -2.8%
• Equity multiple: 0.81×
• Total profit: $-6,387
• Equity at exit: $10,375

Cash invested: $33,600 (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 69357

• Home prices YoY: -4.5%
• Active inventory: 24
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,083 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$99 /mo · $1,185/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$227
• Net cashflow: $77

Break-even live

Break-even rent $985

Max offer price $120,000

Occupancy floor 88%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-04-17
   status Pending
2. 2026-03-18
   listed $120,000 Active

ⓘ 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: $1,185 · $99/mo
• Projected year-2 tax: $2,076 · $173/mo
• Expected delta: +$891/yr (+$74/mo · 75.1%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X · 14% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 19 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: $12,992
• − Mortgage interest: −$6,722
• − Property taxes: −$1,185
• − Insurance: −$600
• − Repairs & maintenance: −$1,039
• − Management: −$1,039
• − Depreciation: −$3,491
• Taxable loss: −$1,085
• Est. tax savings @ 24.0%: +$260
• After-tax cash flow: $1,187/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: Mitchell Public Schools
• NCES district ID: 3173890
• Math proficiency: 52% ▼ -12.00%
• Reading proficiency: 60% ▼ -5.00%
• Median HH income: $45,186
• Composite: 47.28/100
• National rank: #2306
• State rank: #36 of 111 in NE

Livability — Mitchell

• Score: 76/100
• State rank: #93
• US rank: #3761

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: Mitchell, NE
• Population (ZIP): 3,563

Population outlook (Scotts Bluff County) Hauer SSP2

• Today (2025): 35,740 people
• By 2030: 35,229 · -1.4%
• By 2040: 34,160 · -4.4%
• By 2050: 33,656 · -5.8%
• By 2075: 35,257 · -1.4%
• By 2100: 39,158 · +9.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Hispanic / Latino 18% Two or more races 12%
• Hispanic origin (detail): Mexican 17%
• Common ancestry: Portuguese 6% Iranian 3% Scotch-Irish 2%
• Foreign-born: 5% · Canada
• Languages at home: 90% English-only · Spanish 9% German/W. Germanic 1%

Political lean MEDSL · Scotts Bluff

• 2024 margin: Solid R (+47.7) · D 25.6% · R 73.4% · Other 1.0%
• 2008→2024 swing: -14.0pp toward R · 2008: -33.7pp · 2024: -47.7pp
• All cycles: 2024: R+47.7 2020: R+43.5 2016: R+48.9 2012: R+37.7 2008: R+33.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -11.91%
• Current HPI: 250.473
• 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

2 events — show timeline

• 2026-04-17 Pending — WNBOR
• 2026-03-18 Listed $120,000 WNBOR

Property tax history

+2.6%/yr

Latest (2025): $1,185 · +0.6% YoY. Source: county tax records.