12339 Earl Ave

Blair, NE 68008

$73,000B

3 bd · 2.0 ba · 1,056 sqft · Built 2021 · SingleFamily · Active · 23 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,302/mo
• Mortgage (P&I): −$383
• Tax + insurance: −$69
• HOA: −$0
• Vac / Maint / Mgmt: −$273
• Net cashflow: $577/mo
• Annual: $6,923/yr
• Cap rate: 15.78%
• Cash-on-cash: 33.87%
• DSCR: 2.51
• 1% rule: 1.78%
• Cash to close: $20,440

Investor read

• This is a 3-bed/2.0-bath single-family listed at $73k. Condition is rated fair.
• At list price, monthly cash flow is $577 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $73k).
• It's been on market 23 days — a 2% lower offer ($72k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $72k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $505 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 80/100 on livability (#25 in NE, #1,668 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Blair Community Schools (town): math 55% / reading 51% proficiency, ranked #46 of 111 in NE (top 41%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: 186 active listings in the ZIP; 80 units permitted in Washington County in 2024 (0 in 5+ unit buildings).
• Washington County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~4 years — after that, you're playing with house money.
• Cap rate 15.8% vs local median 2.2% in Blair — 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

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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.

Repairs flagged (vision-AI assessment)

• Major: exterior siding — Weathered and possibly damaged
• Major: roof — No visible damage, but the mobile home appears old
• Major: flooring — No visible flooring, but the mobile home appears old
• Major: interior walls/paint — No visible interior, but the mobile home appears old
• Major: bathrooms — No visible bathrooms, but the mobile home appears old
• Major: kitchen — No visible kitchen, but the mobile home appears old