711 N Thomas Ave

Oakland, NE 68045

$150,000B+

4 bd · 2.0 ba · 2,074 sqft · Built 1931 · MultiFamily · Pending · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,914/mo
• Mortgage (P&I): −$787
• Tax + insurance: −$141
• HOA: −$0
• Vac / Maint / Mgmt: −$402
• Net cashflow: $584/mo
• Annual: $7,009/yr
• Cap rate: 10.97%
• Cash-on-cash: 16.69%
• DSCR: 1.74
• 1% rule: 1.28%
• Cash to close: $42,000

Investor read

• This is a 4-bed/2.0-bath multifamily listed at $150k.
• At list price, monthly cash flow is $584 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $12k of equity ($1k loan paydown + $11k appreciation (7.6% local appreciation)).
• Location reads 75/100 on livability (#98 in NE, #3,931 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• Oakland Craig Public Schools (rural): math 55% / reading 55% proficiency, ranked #39 of 111 in NE (top 35%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Oakland Craig Elementary (math 47% / reading 52%, grade D, #233 of 502 statewide, top 52%, 223 students, 15% FRL); Oakland Craig Junior-Senior High (math 62% / reading 57%, grade C+, #49 of 261 statewide, top 26%, 193 students, 4% FRL) — zoned schools average 9% FRL vs 27% district-wide (18 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1931 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 8 active listings in the ZIP; 15 units permitted in Burt County in 2024 (0 in 5+ unit buildings).
• Burt County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (7.6% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Built in 1931 — 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.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.