211 Pine St

Bee, NE 68314

$195,000D

3 bd · 2.0 ba · 1,876 sqft · Built 1999 · Manufactured · Active · 17 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,274/mo
• Mortgage (P&I): −$1,023
• Tax + insurance: −$194
• HOA: −$0
• Vac / Maint / Mgmt: −$267
• Net cashflow: $-210/mo
• Annual: $-2,521/yr
• Cap rate: 5.00%
• Cash-on-cash: -4.62%
• DSCR: 0.79
• 1% rule: 0.65%
• Cash to close: $54,600

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $195k.
• At list price, monthly cash flow is $-210 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $158k (19.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $127k (34.7% below list).
• It's been on market 17 days — a 2% lower offer ($192k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $127k (34.7% below list) — sets the bar for 1% rule.
• In year one you build about $11k of equity ($1k loan paydown + $10k appreciation (5.0% local appreciation)).
• Location reads 62/100 on livability (#433 in NE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools F, amenities F.
• Seward Public Schools (town): math 73% / reading 63% proficiency, ranked #5 of 111 in NE (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: 2 active listings in the ZIP; 94 units permitted in Seward County in 2024 (48 in 5+ unit buildings).
• 2 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $162k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• By year 4, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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?
• 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.