201 9th St · Madison, NE 68748

$169,500

4 bd · 1.0 ba · 1,600 sqft · SingleFamily public records · 147 Days on market

Built 1906 10,019 sqft lot $106/sqft · at area comps Est $174k · at est.

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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).

• Cash flow +12.0/30.0
• ARV discount +8.7/15.0
• Appreciation +6.9/10.0
• Livability +3.6/5.0
• DSCR +3.5/10.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0

Listing remarks MLS

This cozy four-bedroom, one-bath home sits on a desirable corner lot in a quiet neighborhood. Offering comfortable living space with a functional layout, the home features a convenient carport and plenty of natural light throughout. The corner lot provides added privacy and outdoor space, perfect for relaxing or entertaining. A great opportunity for anyone looking for an inviting home in a peaceful setting.

Key facts

• 0.23 acre lot
• Built 1906
• Listed 146 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $-41 ($-497/yr) — negative.
• To cash-flow at today's rent, offer at most $162k (4.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $129k (23.6% below list).
• Recommended offer: $129k (23.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 71/100 on livability (#193 in NE) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Madison Public Schools (rural): math 22% / reading 27% proficiency, ranked #109 of 111 in NE (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Madison Elementary School (math 22% / reading 27%, grade F, #445 of 502 statewide, top 91%, 210 students, 68% FRL); Madison Middle School (math 17% / reading 22%, grade F, #121 of 128 statewide, top 95%, 106 students, 73% FRL); Madison High School (math 34% / reading 34%, grade F, #208 of 261 statewide, top 86%, 160 students, 61% FRL).
• Market conditions: 14 active listings in the ZIP; 270 units permitted in Madison County in 2024 (196 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($1k loan paydown + $7k appreciation (3.9% local appreciation)).
• At projected returns (3.9% appreciation + 3.0% rent growth), your $47k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 147 days — a 12% lower offer ($149k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $88k; list at $170k implies a 93% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1906 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $129,454 (23.6% 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. It's been on market 147 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Built in 1906 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.76% ✗
• Cap rate: 6.00%
• Cash-on-cash: -1.05%
• DSCR: 0.95
• GRM: 10.9

CMA / ARV

• ARV (median comp): $174,111
• List price: $169,500
• Delta: -2.65%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
606 Lincoln St	0.22mi	3/1.0 (-1)	1,470 (-8%)	6mo	$168,500	$115	66
806 Orchard St	0.07mi	4/2.0	1,764 (+10%)	16mo	$175,000	$99	62
408 7th St	0.35mi	4/2.0	1,444 (-10%)	9mo	$175,000	$121	56
307 3rd St	0.41mi	3/1.0 (-1)	1,474 (-8%)	9mo	$165,000	$112	55
403 Lincoln St	0.36mi	4/2.0	1,424 (-11%)	11mo	$155,000	$109	52

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

Projected returns pro-forma

3.85% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 8.9%
• Equity multiple: 1.54×
• Total profit: $25,495
• Equity at exit: $84,471

10-year hold

• IRR: 11.0%
• Equity multiple: 2.79×
• Total profit: $85,164
• Equity at exit: $137,001

Cash invested: $47,460 (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 68748

• Home prices YoY: 1.5%
• Active inventory: 14
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $1,295 medium
• Mortgage (P&I): −$889
• Tax from tax record: −$105 /mo · $1,255/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $-41

Break-even live

Break-even rent $1,347

Max offer price $162,181

Occupancy floor 98%

Sensitivity live

Price	-10% $55	-5% $7	+0% $-41	+5% $-89	+10% $-137
Rent	-10% $-144	-5% $-93	+0% $-41	+5% $10	+10% $61
Rate	-1.0pp $44	-0.5pp $2	base $-41	+0.5pp $-85	+1.0pp $-130

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: $42,375
• Closing costs: $5,085
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-22
   days on market $169,500 Active 147 DOM
2. 2026-06-21
   days on market $169,500 Active 146 DOM
3. 2026-06-19
   days on market $169,500 Active 144 DOM
4. 2026-06-18
   days on market $169,500 Active 143 DOM
5. 2026-06-17
   days on market $169,500 Active 142 DOM
6. 2026-06-16
   days on market $169,500 Active 141 DOM
7. 2026-06-15
   days on market $169,500 Active 140 DOM
8. 2026-06-14
   days on market $169,500 Active 138 DOM
9. 2026-06-12
   days on market $169,500 Active 137 DOM
10. 2026-06-09
    days on market $169,500 Active 134 DOM
11. 2026-06-08
    days on market $169,500 Active 133 DOM
12. 2026-06-07
    days on market $169,500 Active 132 DOM
13. 2026-06-05
    days on market $169,500 Active 129 DOM
14. 2026-06-03
    days on market $169,500 Active 128 DOM
15. 2026-06-02
    days on market $169,500 Active 127 DOM
16. 2026-06-01
    days on market $169,500 Active 126 DOM
17. 2026-05-31
    days on market $169,500 Active 125 DOM
18. 2026-05-30
    days on market $169,500 Active 124 DOM
19. 2026-02-27
    price $169,500 410-char remark

    Show marketing remark (410 chars)

    This cozy four-bedroom, one-bath home sits on a desirable corner lot in a quiet neighborhood. Offering comfortable living space with a functional layout, the home features a convenient carport and plenty of natural light throughout. The corner lot provides added privacy and outdoor space, perfect for relaxing or entertaining. A great opportunity for anyone looking for an inviting home in a peaceful setting.

20. 2026-01-26
    listed $179,900 Active 410-char remark

    Show marketing remark (410 chars)

    This cozy four-bedroom, one-bath home sits on a desirable corner lot in a quiet neighborhood. Offering comfortable living space with a functional layout, the home features a convenient carport and plenty of natural light throughout. The corner lot provides added privacy and outdoor space, perfect for relaxing or entertaining. A great opportunity for anyone looking for an inviting home in a peaceful setting.

21. 2019-06-17
    soldstatus $88,000
22. 2019-06-14
    soldstatus $88,000 170-char remark

    Show marketing remark (170 chars)

    Nice 4 bedroom, 1 bath home with updated kitchen and bath. Laundry room main level. Newer roof and furnace/central air. Washer and dryer stay. Call agent for appointment.

23. 2019-05-08
    listed $87,900 170-char remark

    Show marketing remark (170 chars)

    Nice 4 bedroom, 1 bath home with updated kitchen and bath. Laundry room main level. Newer roof and furnace/central air. Washer and dryer stay. Call agent for appointment.

24. 2016-08-12
    soldstatus $54,000
25. 2009-11-01
    soldstatus $23,000
26. 2001-02-01
    soldstatus $25,000

ⓘ 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: $1,255 · $105/mo
• Projected year-2 tax: $2,932 · $244/mo
• Expected delta: +$1,677/yr (+$140/mo · 133.6%)

ⓘ 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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥101°F today · 16 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: $15,534
• − Mortgage interest: −$9,495
• − Property taxes: −$1,255
• − Insurance: −$848
• − Repairs & maintenance: −$1,243
• − Management: −$1,243
• − Depreciation: −$4,931
• Taxable loss: −$3,479
• Est. tax savings @ 24.0%: +$835
• After-tax cash flow: $338/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: Madison Public Schools
• NCES district ID: 3173230
• Math proficiency: 22% ▼ -7.00%
• Reading proficiency: 27% ▼ -7.00%
• Median HH income: $51,419
• Composite: 21.76/100
• National rank: #8259
• State rank: #109 of 111 in NE

Livability — Madison

• Score: 71/100
• State rank: #193
• US rank: #6785

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Madison, NE
• Population (ZIP): 2,698

Population outlook (Madison County) Hauer SSP2

• Today (2025): 35,536 people
• By 2030: 35,518 · -0.1%
• By 2040: 35,170 · -1.0%
• By 2050: 34,606 · -2.6%
• By 2075: 34,522 · -2.9%
• By 2100: 34,307 · -3.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 47% Hispanic / Latino 46% Two or more races 20% Asian 5% Native American 5%
• Hispanic origin (detail): Mexican 34% Cuban 3%
• Common ancestry: Italian 2% Portuguese 1% Iranian 1%
• Foreign-born: 24% · Canada, Philippines, South Korea
• Languages at home: 57% English-only · Spanish 38% Other Asian/Pacific 3% Korean 2%

Political lean MEDSL · Madison

• 2024 margin: Solid R (+56.0) · D 21.4% · R 77.4% · Other 1.2%
• 2008→2024 swing: -16.8pp toward R · 2008: -39.2pp · 2024: -56.0pp
• All cycles: 2024: R+56.0 2020: R+53.5 2016: R+56.3 2012: R+48.1 2008: R+39.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.85%
• Current HPI: 261.8142
• 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

+578.0% since first listed

8 events — show timeline

• 2026-02-27 Price Changed $169,500 NNEMLS
• 2026-01-26 Listed $179,900 NNEMLS
• 2019-06-17 Sold (Public Records) $88,000 Public Records
• 2019-06-14 Sold (MLS) $88,000 NNEMLS
• 2019-05-08 Listed $87,900 NNEMLS
• 2016-08-12 Sold (Public Records) $54,000 Public Records
• 2009-11-01 Sold (Public Records) $23,000 Public Records
• 2001-02-01 Sold (Public Records) $25,000 Public Records

Property tax history

+6.8%/yr

Latest (2025): $1,255 · +8.7% YoY. Source: county tax records.