3205 40th St · Columbus, NE 68601

$199,500

3 bd · 2.0 ba · 1,638 sqft · SingleFamily public records · 7 Days on market

Built 1972 Est $331k · 40% under

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Why this score? — see what drove the C- 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).

• Cash flow +15.6/30.0
• ARV discount +15.0/15.0
• DSCR +4.8/10.0
• 1% rule +4.0/10.0
• Livability +4.0/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

All electric 3 bedroom 2 bath ranch style home with potential to add one or two basement bedrooms. House and garage are vinyl sided and wrapped. No maintenance. Auto sprinklers with a well groomed yard. 28x24 detached garage.

Key facts

• Vinyl sided
• Auto sprinklers
• Well groomed yard

Tags

• VINYL SIDED
• AUTO SPRINKLERS
• WELL GROOMED YARD
• DETACHED GARAGE

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer; Electricity available
• Home design: Single-family residence; Residential property
• Construction: Frame construction with vinyl siding; Asphalt roof; Has basement (full, partially finished)
• Exterior features: Patio; Storm door(s); Paved road with public maintenance; Sidewalks (community)

Interior

• Kitchen: Electric range; Microwave; Refrigerator; Disposal
• Heating & cooling: Central air conditioning; Forced air heating (electric)
• Interior features: Storm windows; Window coverings; Water softener; Disposal
• Laundry & utility: Washer; Dryer; Laundry located in basement; Electric water heater; Sump pump

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $83 ($993/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 $180k (9.9% below list).
• Recommended offer: $180k (9.9% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 3.3% in Columbus — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 80/100 on livability (#20 in NE, #1,633 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities D-, commute F.
• Columbus Public Schools (town): math 39% / reading 43% proficiency, ranked #93 of 111 in NE (top 84%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 301 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 98 units permitted in Platte County in 2024 (17 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Platte County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $179,756 (9.9% below list)

Questions for the listing agent

1. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 0.90% ✗
• Cap rate: 6.79%
• Cash-on-cash: 1.78%
• DSCR: 1.08
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $330,876
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3854 30th Ave	0.20mi	4/2.0 (+1)	1,612 (-2%)	7mo	$325,000	$202	77
3971 30th Ave	0.19mi	4/3.0 (+1)	1,788 (+9%)	4mo	$312,000	$174	64
3365 36th Ave	0.51mi	4/3.0 (+1)	1,596 (-3%)	12mo	$300,000	$188	53
3122 33rd St	0.46mi	3/2.0	1,840 (+12%)	7mo	$275,000	$149	52
3271 Prairie Ln	0.54mi	2/3.0 (-1)	1,728 (+6%)	10mo	$277,000	$160	48
3272 36th Ave	0.57mi	4/3.0 (+1)	1,508 (-8%)	12mo	$310,000	$206	41
3352 Prairie Ln	0.53mi	3/3.0	1,398 (-15%)	7mo	$315,000	$225	41
3118 31st St	0.59mi	2/1.0 (-1)	1,476 (-10%)	11mo	$239,000	$162	38
3509 31st St	0.64mi	3/3.0	1,532 (-6%)	24mo	$335,000	$219	36
3172 37th Ave	0.63mi	4/2.0 (+1)	1,396 (-15%)	12mo	$325,000	$233	31

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

Projected returns pro-forma

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

5-year hold

• IRR: -13.5%
• Equity multiple: 0.52×
• Total profit: $-27,057
• Equity at exit: $29,746

10-year hold

• IRR: -4.6%
• Equity multiple: 0.70×
• Total profit: $-16,768
• Equity at exit: $17,249

Cash invested: $55,860 (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 68601

• Home prices YoY: -22.4%
• Active inventory: 301
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,798 high
• Mortgage (P&I): −$1,046
• Tax from tax record: −$208 /mo · $2,496/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$377
• Net cashflow: $83

Break-even live

Break-even rent $1,693

Max offer price $199,500

Occupancy floor 90%

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: $49,875
• Closing costs: $5,985
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3539 43rd Ave Unit 208 Columbus, NE	2.0	2.0	1053	$1,650	$1.57	43d	1	0.79mi
3539 43rd Ave Unit 304 Columbus, NE	2.0	2.0	1051	$1,595	$1.52	43d	1	0.79mi
3539 43rd Ave Unit 102 Columbus, NE	2.0	2.0	1051	$1,850	$1.76	43d	1	0.79mi
3539 43rd Ave Unit 106 Columbus, NE	2.0	2.0	1053	$1,750	$1.66	43d	1	0.79mi
5306 41st St Columbus, NE	3.0	2.5	2200	$2,300	$1.05	43d	1	1.33mi

Listing history 4 events

1. 2026-06-02
   statusdays on market $199,500 Pending 7 DOM
2. 2026-06-01
   days on market $199,500 Active 6 DOM
3. 2026-05-31
   days on market $199,500 Active 5 DOM
4. 2026-05-26
   listed $199,500 Active

ⓘ 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: $2,496 · $208/mo
• Projected year-2 tax: $3,451 · $288/mo
• Expected delta: +$955/yr (+$80/mo · 38.3%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,571
• − Mortgage interest: −$11,175
• − Property taxes: −$2,496
• − Insurance: −$998
• − Repairs & maintenance: −$1,726
• − Management: −$1,726
• − Depreciation: −$5,804
• Taxable loss: −$2,353
• Est. tax savings @ 24.0%: +$565
• After-tax cash flow: $1,558/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: Columbus Public Schools
• NCES district ID: 3105340
• Math proficiency: 39% ▼ -10.00%
• Reading proficiency: 43% ▼ -3.00%
• Median HH income: $51,074
• Composite: 35.41/100
• National rank: #4942
• State rank: #93 of 111 in NE

Livability — Columbus

• Score: 80/100
• State rank: #20
• US rank: #1633

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Columbus, NE
• City population: 30,619
• Population (ZIP): 30,619

Population outlook (Platte County) Hauer SSP2

• Today (2025): 34,130 people
• By 2030: 34,778 · +1.9%
• By 2040: 36,436 · +6.8%
• By 2050: 38,648 · +13.2%
• By 2075: 47,293 · +38.6%
• By 2100: 57,020 · +67.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Hispanic / Latino 25% Two or more races 14%
• Hispanic origin (detail): Mexican 14% Cuban 2%
• Common ancestry: Romanian 7% Portuguese 2% Lithuanian 1%
• Foreign-born: 14% · Canada
• Languages at home: 79% English-only · Spanish 20%

Political lean MEDSL · Platte

• 2024 margin: Solid R (+58.3) · D 20.4% · R 78.7%
• 2008→2024 swing: -16.8pp toward R · 2008: -41.5pp · 2024: -58.3pp
• All cycles: 2024: R+58.3 2020: R+56.8 2016: R+58.8 2012: R+51.8 2008: R+41.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -100.37%
• Current HPI: 347.5063
• 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

1 event — show timeline

• 2026-05-26 Listed $199,500 CBOR

Property tax history

+2.3%/yr

Latest (2025): $2,496 · -0.4% YoY. Source: county tax records.