121 Elm Creek St · Kimball, NE 69145

$195,000

6 bd · 2.0 ba · 2,304 sqft · MultiFamily · 68 Days on market

Built 1959

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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 +22.0/30.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 1% rule +5.8/10.0
• Schools +3.7/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Great investment opportunity! 2,304 sq ft duplex on large corner lot. Lots of updates done throughout the property including new windows, roof, flooring, light fixtures, appliances, cosmetic updates, and more. Oak floors in bedrooms, large utility/laundry rooms. Private entrances for both units with common fenced backyard which could easily be separated for each unit. Both units currently rented. Step right into this well-maintained, turn-key investment!

Key facts

• Dual income
• Newer hvac systems
• Fenced backyard

Tags

• TURNKEY OPPORTUNITY
• DUAL INCOME
• MAJOR CAPITAL IMPROVEMENTS
• NEWER HVAC SYSTEMS
• NEWER ELECTRICAL SERVICE
• FENCED BACKYARD

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $195k.

Deal economics

• At list price, monthly cash flow is $312 ($4k/yr) — positive. Per door: $156/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $195k).
• Recommended offer: $183k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 74/100 on livability (#120 in NE, #4,631 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: schools D, amenities F, commute F.
• Kimball Public Schools (rural): math 39% / reading 43% proficiency, ranked #205 of 245 in NE (top 84%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 35 active listings in the ZIP; 12 units permitted in Kimball County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Kimball County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($183k) is reasonable based on typical stale-listing flexibility.
• 3 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.
• Current owner paid $95k; list at $195k implies a 105% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $183,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.08% ✓
• Cap rate: 8.21%
• Cash-on-cash: 6.86%
• DSCR: 1.31
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -5.8%
• Equity multiple: 0.79×
• Total profit: $-11,683
• Equity at exit: $29,075

10-year hold

• IRR: 3.9%
• Equity multiple: 1.28×
• Total profit: $15,558
• Equity at exit: $16,860

Cash invested: $54,600 (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 69145

• Home prices YoY: -34.5%
• Active inventory: 35
• Price-to-rent: 15.5×

Monthly cashflow live

• Estimated rent: $2,101 medium
• Mortgage (P&I): −$1,023
• Tax est. 1.5%: −$244 /mo · $2,925/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$441
• Net cashflow: $312

Break-even live

Break-even rent $1,706

Max offer price $195,000

Occupancy floor 80%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,102
Total (2 units)			$2,101

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-04-16
   status Pending
2. 2026-02-09
   price $195,000
3. 2025-12-17
   listed $199,900 Active
4. 2025-12-17
   listed $199,900 Active
5. 2020-09-04
   soldstatus $95,000 458-char remark

   Show marketing remark (458 chars)

   Great investment opportunity! 2,304 sq ft duplex on large corner lot. Lots of updates done throughout the property including new windows, roof, flooring, light fixtures, appliances, cosmetic updates, and more. Oak floors in bedrooms, large utility/laundry rooms. Private entrances for both units with common fenced backyard which could easily be separated for each unit. Both units currently rented. Step right into this well-maintained, turn-key investment!

6. 2020-06-05
   listed $110,000 458-char remark

   Show marketing remark (458 chars)

   Great investment opportunity! 2,304 sq ft duplex on large corner lot. Lots of updates done throughout the property including new windows, roof, flooring, light fixtures, appliances, cosmetic updates, and more. Oak floors in bedrooms, large utility/laundry rooms. Private entrances for both units with common fenced backyard which could easily be separated for each unit. Both units currently rented. Step right into this well-maintained, turn-key investment!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 18 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: $25,212
• − Mortgage interest: −$10,923
• − Property taxes: −$2,925
• − Insurance: −$975
• − Repairs & maintenance: −$2,017
• − Management: −$2,017
• − Depreciation: −$5,673
• Taxable income: $682
• Est. tax owed @ 24.0%: −$164
• After-tax cash flow: $3,583/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: Kimball Public Schools
• NCES district ID: 3172570
• Math proficiency: 39% ▬ 0.00%
• Reading proficiency: 43% ▲ 4.00%
• Median HH income: $42,641
• Composite: 37.0/100
• National rank: #9092
• State rank: #205 of 245 in NE

Livability — Kimball

• Score: 74/100
• State rank: #120
• US rank: #4631

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kimball, NE
• Population (ZIP): 2,583

Population outlook (Kimball County) Hauer SSP2

• Today (2025): 3,547 people
• By 2030: 3,450 · -2.7%
• By 2040: 3,302 · -6.9%
• By 2050: 3,226 · -9.0%
• By 2075: 3,329 · -6.1%
• By 2100: 3,425 · -3.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 10% Two or more races 9% Native American 2% Black 2%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Serbian 4% Italian 2% Portuguese 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Kimball

• 2024 margin: Solid R (+67.0) · D 15.8% · R 82.8% · Other 1.4%
• 2008→2024 swing: -16.9pp toward R · 2008: -50.1pp · 2024: -67.0pp
• All cycles: 2024: R+67.0 2020: R+69.0 2016: R+66.6 2012: R+49.9 2008: R+50.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -100.10%
• Current HPI: 190.3732
• 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

+77.3% since first listed

6 events — show timeline

• 2026-04-16 Pending — WNBOR
• 2026-02-09 Price Changed $195,000 WNBOR
• 2025-12-17 Listed $199,900 WNBOR
• 2025-12-17 Listed $199,900 WNBOR
• 2020-09-04 Sold (MLS) $95,000 WNBOR
• 2020-06-05 Listed $110,000 WNBOR