3734 Frostfire Ave · Grand Island, NE 68803

$299,000

2 bd · 3.0 ba · 1,516 sqft · Condo public records · 208 Days on market

Built 2007 $197/sqft · 32% above area Est $394k · 24% under ↓ 7% since listing

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Why this score? — see what drove the F 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
• Livability +4.0/5.0
• Schools +3.1/10.0
• Cash flow +3.0/30.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Clean and spacious condo located near shopping and restaurants. This condo features two bedrooms and two full baths on the main floor. Main floor laundry. All appliances included. Basement has an additional conforming bedroom, is framed, has electricity ran and provides the opportunity for you to design how you would like. New HVAC system & water heater installed in 2025. HOA covers lawn care, snow removal and trash. Seller is homestead exempt. Taxes are approximate.

Key facts

• Hoa covers lawn care
• Main floor laundry
• New water heater

Tags

• MAIN FLOOR LAUNDRY
• ALL APPLIANCES INCLUDED
• ADDITIONAL CONFORMING BEDROOM
• NEW HVAC SYSTEM
• NEW WATER HEATER
• HOA COVERS LAWN CARE

What this means for you Summary

Snapshot

• This is a 2-bed/3.0-bath condo listed at $299k.

Deal economics

• At list price, monthly cash flow is $-965 ($-12k/yr) — negative.
• To cash-flow at today's rent, offer at most $165k (44.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $145k (51.6% below list).
• Recommended offer: $145k (51.6% below list) — sets the bar for 1% rule.
• Cap rate 2.4% vs local median 3.6% in Grand Island — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 79/100 on livability (#43 in NE, #2,252 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, commute F.
• Grand Island Public Schools (urban): math 36% / reading 36% proficiency, ranked #102 of 111 in NE (top 92%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Shoemaker Elementary School (math 50% / reading 53%, grade C-, #230 of 502 statewide, top 46%, 433 students, 51% FRL); Westridge Middle School (math 61% / reading 54%, grade B, #23 of 128 statewide, top 18%, 599 students, 43% FRL); Grand Island Senior High School (math 22% / reading 20%, grade F, #249 of 261 statewide, top 95%, 2,650 students, 65% FRL) — zoned schools at 53% FRL track the district average.
• Market conditions: 213 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 246 units permitted in Hall County in 2024 (98 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Hall County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 208 days — a 12% lower offer ($263k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $21k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $144,720 (51.6% 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 208 days. Have you received any prior offers? Is the seller open to a 52% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. 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?
9. 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.
10. 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.
11. 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: 0.48% ✗
• Cap rate: 2.42%
• Cash-on-cash: -13.83%
• DSCR: 0.38
• GRM: 17.2

CMA / ARV

• ARV (median comp): $393,500
• List price: $299,000
• Delta: -24.02%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -42.4%
• Equity multiple: -0.31×
• Total profit: $-109,867
• Equity at exit: $44,582

10-year hold

• IRR: -72.4%
• Equity multiple: -1.09×
• Total profit: $-174,620
• Equity at exit: $25,852

Cash invested: $83,720 (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 68803

• Active inventory: 213
• Price-to-rent: 17.2×

Monthly cashflow live

• Estimated rent: $1,447 high
• Mortgage (P&I): −$1,568
• Tax est. 1.5%: −$374 /mo · $4,485/yr
• Insurance: −$125
• HOA est. from 1 same-building comp: −$42
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $-965

Break-even live

Break-even rent $2,669

Max offer price $159,358

Occupancy floor —

Sensitivity live

Price	-10% $-758	-5% $-862	+0% $-965	+5% $-1,068	+10% $-1,172
Rent	-10% $-1,079	-5% $-1,022	+0% $-965	+5% $-908	+10% $-851
Rate	-1.0pp $-814	-0.5pp $-889	base $-965	+0.5pp $-1,043	+1.0pp $-1,121

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1011 Starwood Ave Grand Island, NE	3.0	1.0–2.0	993	$1,491	$1.50	45d	8	0.04mi
3721 W Capital Ave Grand Island, NE	3.0	1.0–2.0	867	$1,630	$1.88	45d	20	1.18mi
3033 W Capital Ave Apt 11 Grand Island, NE	3.0	2.0	1106	$1,145	$1.04	45d	1	1.34mi
3033 W Capital Ave Unit 3 Grand Island, NE	3.0	2.0	1106	$1,245	$1.13	45d	1	1.34mi
2304 W George St Unit 2 Grand Island, NE	2.0	2.0	1800	$1,800	$1.00	45d	1	1.46mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: watertrashelectriclandscapingsnow removal
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-06-07
   statusdays on market $299,000 Pending 208 DOM
2. 2026-06-03
   days on market $299,000 Active 205 DOM
3. 2026-06-02
   days on market $299,000 Active 204 DOM
4. 2026-06-01
   days on market $299,000 Active 203 DOM
5. 2026-05-31
   days on market $299,000 Active 202 DOM
6. 2026-05-30
   days on market $299,000 Active 201 DOM
7. 2026-04-16
   price $299,000 477-char remark

   Show marketing remark (477 chars)

   Clean and spacious condo located near shopping and restaurants. This condo features two bedrooms and two full baths on the main floor. Main floor laundry. All appliances included. Basement has an additional conforming bedroom, is framed, has electricity ran and provides the opportunity for you to design how you would like. New HVAC system & water heater installed in 2025. HOA covers lawn care, snow removal and trash. Seller is homestead exempt. Taxes are approximate.

8. 2026-03-31
   status Active 477-char remark

   Show marketing remark (477 chars)

   Clean and spacious condo located near shopping and restaurants. This condo features two bedrooms and two full baths on the main floor. Main floor laundry. All appliances included. Basement has an additional conforming bedroom, is framed, has electricity ran and provides the opportunity for you to design how you would like. New HVAC system & water heater installed in 2025. HOA covers lawn care, snow removal and trash. Seller is homestead exempt. Taxes are approximate.

9. 2026-03-31
   historical 477-char remark

   Show marketing remark (477 chars)

   Clean and spacious condo located near shopping and restaurants. This condo features two bedrooms and two full baths on the main floor. Main floor laundry. All appliances included. Basement has an additional conforming bedroom, is framed, has electricity ran and provides the opportunity for you to design how you would like. New HVAC system & water heater installed in 2025. HOA covers lawn care, snow removal and trash. Seller is homestead exempt. Taxes are approximate.

10. 2026-02-13
    price $310,000 477-char remark

    Show marketing remark (477 chars)

    Clean and spacious condo located near shopping and restaurants. This condo features two bedrooms and two full baths on the main floor. Main floor laundry. All appliances included. Basement has an additional conforming bedroom, is framed, has electricity ran and provides the opportunity for you to design how you would like. New HVAC system & water heater installed in 2025. HOA covers lawn care, snow removal and trash. Seller is homestead exempt. Taxes are approximate.

11. 2025-11-10
    listed $320,000 Active 477-char remark

    Show marketing remark (477 chars)

    Clean and spacious condo located near shopping and restaurants. This condo features two bedrooms and two full baths on the main floor. Main floor laundry. All appliances included. Basement has an additional conforming bedroom, is framed, has electricity ran and provides the opportunity for you to design how you would like. New HVAC system & water heater installed in 2025. HOA covers lawn care, snow removal and trash. Seller is homestead exempt. Taxes are approximate.

ⓘ 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 5/10 Major FEMA zone X (unshaded) · 67% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 16 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: $17,366
• − Mortgage interest: −$16,749
• − Property taxes: −$4,485
• − Insurance: −$1,495
• − Repairs & maintenance: −$1,389
• − Management: −$1,389
• − HOA: −$504
• − Depreciation: −$8,698
• Taxable loss: −$17,343
• Est. tax savings @ 24.0%: +$4,162
• After-tax cash flow: $-7,418/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: Grand Island Public Schools
• NCES district ID: 3100016
• Math proficiency: 36% ▼ -5.00%
• Reading proficiency: 36% ▼ -5.00%
• Median HH income: $47,021
• Composite: 30.9/100
• National rank: #6117
• State rank: #102 of 111 in NE

Livability — Grand Island

• Score: 79/100
• State rank: #43
• US rank: #2252

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Grand Island, NE
• County: Hall County · 56,358 people
• City population: 56,358
• Metro: Grand Island, NE
• Population (ZIP): 25,534
• Household income: $73,463
• Rent vs Own: 37.1% rent · 62.9% own
• Severe rent burden: 638.0

Population outlook (Hall County) Hauer SSP2

• Today (2025): 68,137 people
• By 2030: 71,543 · +5.0%
• By 2040: 78,843 · +15.7%
• By 2050: 86,765 · +27.3%
• By 2075: 111,764 · +64.0%
• By 2100: 137,991 · +102.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 23% Two or more races 6% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 14% Cuban 2%
• Common ancestry: Romanian 5% Lithuanian 2% Slovak 1%
• Foreign-born: 12% · Canada, China
• Languages at home: 80% English-only · Spanish 18% Arabic 1%

Political lean MEDSL · Hall

• 2024 margin: Solid R (+37.8) · D 30.5% · R 68.3% · Other 1.2%
• 2008→2024 swing: -13.7pp toward R · 2008: -24.1pp · 2024: -37.8pp
• All cycles: 2024: R+37.8 2020: R+34.8 2016: R+37.5 2012: R+27.6 2008: R+24.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -191.41%
• Current HPI: 214.8923
• Rent YoY: —
• Metro: Grand Island, NE
• 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

-6.6% since first listed

5 events — show timeline

• 2026-04-16 Price Changed $299,000 GIBOR
• 2026-03-31 Relisted — GIBOR
• 2026-03-31 Delisted — GIBOR
• 2026-02-13 Price Changed $310,000 GIBOR
• 2025-11-10 Listed $320,000 GIBOR

Property tax history

-16.6%/yr

Latest (2025): $389 · +90.6% YoY. Source: county tax records.