417 E 3rd St · Friend, NE 68359

$129,900

2 bd · 1.0 ba · 1,050 sqft · SingleFamily public records · 33 Days on market

Built 1900 0.30 ac lot $124/sqft · 6% below area Est $161k · 19% under ↓ 21% since listing

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +10.9/30.0
• Schools +4.9/10.0
• Livability +3.8/5.0
• DSCR +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Open concept floor plan with a beautiful new kitchen and a full bath. As you enter the front door to the cozy living room, enjoy all the natural light coming from the new windows, continue to the formal dining area and the spacious kitchen, plenty cabinets and granite counter tops, new fridge and above the range vent. Lower level offers 2 bedrooms, laundry area and bath, in the second level you find the large 3rd bedroom. Front and side deck accessed from the kitchen patio door. 2 stall detached garage spaces, 2 other storage sheds and a large back yard with mature trees.

Key facts

• New kitchen
• Natural light
• Formal dining area

Tags

• OPEN CONCEPT FLOOR PLAN
• NEW KITCHEN
• NATURAL LIGHT
• FORMAL DINING AREA
• GRANITE COUNTER TOPS
• NEW FRIDGE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $-58 ($-698/yr) — negative.
• To cash-flow at today's rent, offer at most $120k (7.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $95k (26.5% below list).
• Recommended offer: $95k (26.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 76/100 on livability (#85 in NE, #3,558 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Friend Public Schools (rural): math 60% / reading 50% proficiency, ranked #102 of 245 in NE (top 42%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 19% free/reduced lunch — higher-income household profile.
• Market conditions: 11 active listings in the ZIP; 36 units permitted in Saline County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Saline County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $95,426 (26.5% below list)

Questions for the listing agent

1. 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?
2. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.73% ✗
• Cap rate: 5.76%
• Cash-on-cash: -1.92%
• DSCR: 0.91
• GRM: 11.3

CMA / ARV

• ARV (median comp): $160,507
• List price: $129,900
• Delta: -19.07%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
403 Cedar St	0.14mi	2/1.0	1,110 (+6%)	13mo	$166,000	$150	73
301 S Pine St	0.04mi	2/1.0	1,200 (+14%)	6mo	$140,000	$117	69
974 Maple St	0.56mi	2/2.0	1,200 (+14%)	13mo	$141,000	$118	35

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: -19.5%
• Equity multiple: 0.32×
• Total profit: $-24,792
• Equity at exit: $19,369

10-year hold

• IRR: -12.3%
• Equity multiple: 0.27×
• Total profit: $-26,514
• Equity at exit: $11,231

Cash invested: $36,372 (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 68359

• Home prices YoY: -8.6%
• Active inventory: 11
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $954 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$77 /mo · $920/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$200
• Net cashflow: $-58

Break-even live

Break-even rent $1,028

Max offer price $119,625

Occupancy floor —

Sensitivity live

Price	-10% $15	-5% $-21	+0% $-58	+5% $-95	+10% $-132
Rent	-10% $-134	-5% $-96	+0% $-58	+5% $-20	+10% $17
Rate	-1.0pp $7	-0.5pp $-25	base $-58	+0.5pp $-92	+1.0pp $-126

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-01
   price $129,900 578-char remark

   Show marketing remark (578 chars)

   Open concept floor plan with a beautiful new kitchen and a full bath. As you enter the front door to the cozy living room, enjoy all the natural light coming from the new windows, continue to the formal dining area and the spacious kitchen, plenty cabinets and granite counter tops, new fridge and above the range vent. Lower level offers 2 bedrooms, laundry area and bath, in the second level you find the large 3rd bedroom. Front and side deck accessed from the kitchen patio door. 2 stall detached garage spaces, 2 other storage sheds and a large back yard with mature trees.

2. 2026-04-21
   listed $139,900 New 578-char remark

   Show marketing remark (578 chars)

   Open concept floor plan with a beautiful new kitchen and a full bath. As you enter the front door to the cozy living room, enjoy all the natural light coming from the new windows, continue to the formal dining area and the spacious kitchen, plenty cabinets and granite counter tops, new fridge and above the range vent. Lower level offers 2 bedrooms, laundry area and bath, in the second level you find the large 3rd bedroom. Front and side deck accessed from the kitchen patio door. 2 stall detached garage spaces, 2 other storage sheds and a large back yard with mature trees.

3. 2026-04-21
   historical

   Show marketing remark (578 chars)

   Open concept floor plan with a beautiful new kitchen and a full bath. As you enter the front door to the cozy living room, enjoy all the natural light coming from the new windows, continue to the formal dining area and the spacious kitchen, plenty cabinets and granite counter tops, new fridge and above the range vent. Lower level offers 2 bedrooms, laundry area and bath, in the second level you find the large 3rd bedroom. Front and side deck accessed from the kitchen patio door. 2 stall detached garage spaces, 2 other storage sheds and a large back yard with mature trees.

4. 2026-03-22
   price $149,900
5. 2026-03-16
   listed $164,900 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: $920 · $77/mo
• Projected year-2 tax: $2,247 · $187/mo
• Expected delta: +$1,327/yr (+$111/mo · 144.2%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,451
• − Mortgage interest: −$7,276
• − Property taxes: −$920
• − Insurance: −$650
• − Repairs & maintenance: −$916
• − Management: −$916
• − Depreciation: −$3,779
• Taxable loss: −$3,006
• Est. tax savings @ 24.0%: +$721
• After-tax cash flow: $24/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: Friend Public Schools
• NCES district ID: 3100096
• Math proficiency: 60% ▬ 0.00%
• Reading proficiency: 50% ▲ 5.00%
• Median HH income: $53,195
• Composite: 49.07/100
• National rank: #4426
• State rank: #102 of 245 in NE

Livability — Friend

• Score: 76/100
• State rank: #85
• US rank: #3558

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Friend, NE
• Population (ZIP): 1,512

Population outlook (Saline County) Hauer SSP2

• Today (2025): 15,242 people
• By 2030: 15,610 · +2.4%
• By 2040: 16,553 · +8.6%
• By 2050: 17,915 · +17.5%
• By 2075: 22,924 · +50.4%
• By 2100: 28,426 · +86.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Lithuanian 3% Romanian 2% Portuguese 2%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 95% English-only · Spanish 4%

Political lean MEDSL · Saline

• 2024 margin: Solid R (+33.2) · D 32.8% · R 66.0% · Other 1.2%
• 2008→2024 swing: -37.8pp toward R · 2008: 4.6pp · 2024: -33.2pp
• All cycles: 2024: R+33.2 2020: R+28.5 2016: R+25.4 2012: R+5.9 2008: D+4.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -19.91%
• Current HPI: 211.775
• 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

-21.2% since first listed

5 events — show timeline

• 2026-05-01 Price Changed $129,900 GPRMLS
• 2026-04-21 Listing Removed — GPRMLS
• 2026-04-21 Listed $139,900 GPRMLS
• 2026-03-22 Price Changed $149,900 GPRMLS
• 2026-03-16 Listed $164,900 GPRMLS

Property tax history

+1.8%/yr

Latest (2025): $920 · +0.2% YoY. Source: county tax records.