926 N Commercial Ave

Superior, NE 68978

$140,000C+

4 bd · 2.0 ba · 2,185 sqft · Built 1900 · SingleFamily · Active · 187 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,277/mo
• Mortgage (P&I): −$734
• Tax + insurance: −$122
• HOA: −$0
• Vac / Maint / Mgmt: −$268
• Net cashflow: $153/mo
• Annual: $1,832/yr
• Cap rate: 7.60%
• Cash-on-cash: 4.67%
• DSCR: 1.21
• 1% rule: 0.91%
• Cash to close: $39,200

Investor read

• This is a 4-bed/2.0-bath single-family listed at $140k.
• At list price, monthly cash flow is $153 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $128k (8.8% below list).
• It's been on market 187 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.
• In year one you build about $10k of equity ($968 loan paydown + $9k appreciation (6.3% local appreciation)).
• Location reads 75/100 on livability (#106 in NE, #4,283 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Superior Public Schools (rural): math 40% / reading 43% proficiency, ranked #207 of 245 in NE (top 84%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Superior Elementary School (math 27% / reading 42%, grade F, #390 of 502 statewide, top 80%, 196 students, 48% FRL); Superior Middle School (math 27% / reading 32%, grade F, #113 of 128 statewide, top 89%, 84 students, 52% FRL); Superior Sr High School (math 30% / reading 50%, grade F, #182 of 261 statewide, top 70%, 130 students, 52% FRL) — zoned schools average 51% FRL vs 32% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 17 active listings in the ZIP; 8 units permitted in Nuckolls County in 2024 (0 in 5+ unit buildings).
• Nuckolls County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts; this cycle's ask has dropped $19k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $53k; list at $140k implies a 164% gain — meaningful room to come down on a strong offer.
• At projected returns (6.3% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 187 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.