105 Horton St

Scribner, NE 68057

$155,000D+

2 bd · 1.0 ba · 1,440 sqft · Built 1912 · SingleFamily · Active · 60 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,098/mo
• Mortgage (P&I): −$813
• Tax + insurance: −$186
• HOA: −$0
• Vac / Maint / Mgmt: −$231
• Net cashflow: $-131/mo
• Annual: $-1,577/yr
• Cap rate: 5.28%
• Cash-on-cash: -3.63%
• DSCR: 0.84
• 1% rule: 0.71%
• Cash to close: $43,400

Investor read

• This is a 2-bed/1.0-bath single-family listed at $155k.
• At list price, monthly cash flow is $-131 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $132k (15.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $110k (29.1% below list).
• It's been on market 60 days — a 3% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $110k (29.1% below list) — sets the bar for 1% rule.
• In year one you build about $7k of equity ($1k loan paydown + $6k appreciation (3.7% local appreciation)).
• Location reads 73/100 on livability (#143 in NE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Scribner-Snyder Community Schools (rural): math 55% / reading 55% proficiency, ranked #106 of 245 in NE (top 43%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 12 active listings in the ZIP; 82 units permitted in Dodge County in 2024 (0 in 5+ unit buildings).
• Current owner paid $45k; list at $155k implies a 244% gain — meaningful room to come down on a strong offer.
• By year 6, paydown + projected appreciation supports a ~$36k 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?
• It's been on market 60 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
• Built in 1912 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.