411 Castor St

Diller, NE 68343

$40,000B

2 bd · 1.0 ba · 871 sqft · Built 1932 · SingleFamily · Pending · 28 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $855/mo
• Mortgage (P&I): −$210
• Tax + insurance: −$43
• HOA: −$0
• Vac / Maint / Mgmt: −$180
• Net cashflow: $423/mo
• Annual: $5,081/yr
• Cap rate: 19.00%
• Cash-on-cash: 45.37%
• DSCR: 3.02
• 1% rule: 2.14%
• Cash to close: $11,200

Investor read

• This is a 2-bed/1.0-bath single-family listed at $40k.
• At list price, monthly cash flow is $423 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($855 rent vs $40k).
• It's been on market 28 days — a 2% lower offer ($39k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $39k (1.5% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($277 loan paydown + $2k appreciation (4.1% local appreciation)).
• Location reads 70/100 on livability (#231 in NE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools A-; Watch: health & safety C-, amenities F, commute F.
• Diller-Odell Public Schools (rural): math 70% / reading 70% proficiency, ranked #16 of 245 in NE (top 6%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Watch-outs: built in 1932 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 8 active listings in the ZIP; 9 units permitted in Jefferson County in 2024 (0 in 5+ unit buildings).
• Jefferson County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Current owner paid $12k; list at $40k implies a 233% gain — meaningful room to come down on a strong offer.
• At projected returns (4.1% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1932 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.