241 W 8th St

North Bend, NE 68649

$105,000B

2 bd · 1.5 ba · 1,223 sqft · Built 1950 · SingleFamily · Active · 142 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,054/mo
• Mortgage (P&I): −$551
• Tax + insurance: −$551
• HOA: −$0
• Vac / Maint / Mgmt: −$221
• Net cashflow: $-269/mo
• Annual: $-3,230/yr
• Cap rate: 8.09%
• Cash-on-cash: 6.42%
• DSCR: 1.29
• 1% rule: 1.00%
• Cash to close: $29,400

Investor read

• This is a 2-bed/1.5-bath single-family listed at $105k.
• At list price, monthly cash flow is $-269 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $57k (45.3% below list).
• Meets the 1% rule at list price ($1k rent vs $105k).
• It's been on market 142 days — a 12% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $57k (45.3% below list) — sets the bar for cash-flow.
• In year one you build about $11k of equity ($726 loan paydown + $10k appreciation (10.0% local appreciation)).
• Location reads 81/100 on livability (#18 in NE, #1,561 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• North Bend Central Public Schools (rural): math 65% / reading 64% proficiency, ranked #8 of 111 in NE (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: flood insurance adds $427/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 24 active listings in the ZIP; 82 units permitted in Dodge County in 2024 (0 in 5+ unit buildings).
• Current owner paid $38k; list at $105k implies a 176% gain — meaningful room to come down on a strong offer.
• By year 4, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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?
• It's been on market 142 days. Have you received any prior offers? Is the seller open to a 45% concession, seller financing, or rate buy-down credit?
• Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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 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.