306 N Walnut St

Genoa, NE 68640

$30,000B+

2 bd · 1.0 ba · 1,192 sqft · Built 1905 · SingleFamily · Active · 22 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,046/mo
• Mortgage (P&I): −$157
• Tax + insurance: −$57
• HOA: −$0
• Vac / Maint / Mgmt: −$220
• Net cashflow: $612/mo
• Annual: $7,342/yr
• Cap rate: 30.77%
• Cash-on-cash: 87.40%
• DSCR: 4.89
• 1% rule: 3.49%
• Cash to close: $8,400

Investor read

• This is a 2-bed/1.0-bath single-family listed at $30k.
• At list price, monthly cash flow is $612 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• It's been on market 22 days — a 2% lower offer ($30k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $30k (1.5% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($207 loan paydown + $909 appreciation (3.0% local appreciation)).
• Location reads 70/100 on livability (#216 in NE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Twin River Public Schools (rural): math 45% / reading 48% proficiency, ranked #79 of 111 in NE (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 11 active listings in the ZIP; 4 units permitted in Nance County in 2024 (0 in 5+ unit buildings).
• Nance County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Questions for listing agent

• Built in 1905 — 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 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?
• 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.