516 W 2nd St · Wakefield, NE 68784

$140,000

2 bd · 2.0 ba · 2,010 sqft · SingleFamily public records · 27 Days on market

Built 1952 8,856 sqft lot Est $249k · 44% under

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Why this score? — see what drove the D+ 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
• Cash flow +9.3/30.0
• Appreciation +7.0/10.0
• Livability +3.9/5.0
• Schools +3.4/10.0
• DSCR +2.6/10.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Charming ranch-style home offering 2 bedrooms and 1 bathroom on the main level, plus an additional ¾ bathroom in the basement. This home features low-maintenance vinyl siding and a 1-car attached garage. The partially finished basement provides great potential for additional living space, whether you’re looking to expand, create a rec room, or add value over time. With solid bones and room to make it your own, this property is a great opportunity for first-time buyers or investors!

Key facts

• 8,856 sq ft lot
• Garage
• Built 1952

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $-101 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $122k (12.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $106k (24.6% below list).
• Recommended offer: $106k (24.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 78/100 on livability (#52 in NE, #2,540 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Wakefield Public Schools (rural): math 34% / reading 44% proficiency, ranked #99 of 111 in NE (top 89%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Wakefield Elementary School (math 27% / reading 47%, grade F, #373 of 502 statewide, top 77%, 342 students, 61% FRL); Wakefield High School (math 47% / reading 42%, grade F, #146 of 261 statewide, top 67%, 225 students, 60% FRL) — zoned schools average 60% FRL vs 41% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 7 active listings in the ZIP; 4 units permitted in Dixon County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($968 loan paydown + $6k appreciation (4.0% local appreciation)).
• Dixon County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 6, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($138k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $89k; list at $140k implies a 57% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $105,616 (24.6% 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. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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.

Investment metrics

• 1% rule: 0.75% ✗
• Cap rate: 5.42%
• Cash-on-cash: -3.11%
• DSCR: 0.86
• GRM: 11.0

CMA / ARV

• ARV (on-the-fly): $249,240
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
803 Pine Circle Dr	0.73mi	3/2.0 (+1)	1,920 (-4%)	13mo	$237,500	$124	43
614 Main St	0.53mi	3/2.0 (+1)	2,229 (+11%)	21mo	$179,900	$81	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

3.95% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 7.4%
• Equity multiple: 1.45×
• Total profit: $17,572
• Equity at exit: $70,581

10-year hold

• IRR: 9.7%
• Equity multiple: 2.61×
• Total profit: $63,116
• Equity at exit: $115,121

Cash invested: $39,200 (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 68784

• Home prices YoY: 2.3%
• Active inventory: 7
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $1,056 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$143 /mo · $1,720/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$222
• Net cashflow: $-101

Break-even live

Break-even rent $1,185

Max offer price $122,077

Occupancy floor —

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-04-27
   status Pending
2. 2026-03-31
   listed $140,000 New
3. 2019-12-27
   soldstatus $89,000
4. 2018-06-08
   soldstatus $82,000
5. 2005-03-04
   soldstatus $75,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NE · Resets to sale price

• Current annual tax: $1,720 · $143/mo
• Projected year-2 tax: $2,422 · $202/mo
• Expected delta: +$702/yr (+$59/mo · 40.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 15 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: $12,674
• − Mortgage interest: −$7,842
• − Property taxes: −$1,720
• − Insurance: −$700
• − Repairs & maintenance: −$1,014
• − Management: −$1,014
• − Depreciation: −$4,073
• Taxable loss: −$3,689
• Est. tax savings @ 24.0%: +$885
• After-tax cash flow: $-332/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: Wakefield Public Schools
• NCES district ID: 3178240
• Math proficiency: 34% ▼ -26.00%
• Reading proficiency: 44% ▼ -13.00%
• Median HH income: $49,127
• Composite: 33.55/100
• National rank: #5427
• State rank: #99 of 111 in NE

Livability — Wakefield

• Score: 78/100
• State rank: #52
• US rank: #2540

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wakefield, NE
• Population (ZIP): 1,685

Population outlook (Dixon County) Hauer SSP2

• Today (2025): 5,469 people
• By 2030: 5,271 · -3.6%
• By 2040: 4,811 · -12.0%
• By 2050: 4,352 · -20.4%
• By 2075: 3,470 · -36.6%
• By 2100: 2,573 · -53.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (55%)
• Race & ethnicity: White 55% Hispanic / Latino 44% Two or more races 24%
• Hispanic origin (detail): Mexican 32%
• Common ancestry: Portuguese 3% Iranian 1% Serbian 1%
• Foreign-born: 22% · Canada
• Languages at home: 62% English-only · Spanish 37%

Political lean MEDSL · Dixon

• 2024 margin: Solid R (+58.7) · D 19.8% · R 78.5% · Other 1.8%
• 2008→2024 swing: -28.6pp toward R · 2008: -30.0pp · 2024: -58.7pp
• All cycles: 2024: R+58.7 2020: R+54.4 2016: R+54.1 2012: R+32.8 2008: R+30.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.95%
• Current HPI: 174.298
• Rent YoY: —
• Metro: —
• 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

+86.7% since first listed

5 events — show timeline

• 2026-04-27 Pending — GPRMLS
• 2026-03-31 Listed $140,000 GPRMLS
• 2019-12-27 Sold (Public Records) $89,000 Public Records
• 2018-06-08 Sold (Public Records) $82,000 Public Records
• 2005-03-04 Sold (Public Records) $75,000 Public Records

Property tax history

+3.4%/yr

Latest (2025): $1,720 · +13.0% YoY. Source: county tax records.