2923 I Ave · Kearney, NE 68847

$149,900

2 bd · 2.0 ba · 1,056 sqft · SingleFamily public records · 2 Days on market

Built 1947 0.26 ac lot Est $200k · 25% 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 +22.1/30.0
• ARV discount +15.0/15.0
• DSCR +7.1/10.0
• 1% rule +5.4/10.0
• Schools +4.7/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

R-3 Zoning! Situated on a Large Corner Lot (92' x 124') w/ Alley Access. Lots of Potential and Room for Expansion. Close to Dryden Park and Elementary Schools. New Furnace in 2/26. Basement Bedroom has Egress. * * Must Have 24-Hour Notice to Show * *

Key facts

• Alley access
• Large corner lot
• Close to dryden park

Tags

• LARGE CORNER LOT
• ALLEY ACCESS
• CLOSE TO DRYDEN PARK
• CLOSE TO ELEMENTARY SCHOOLS
• BASEMENT BEDROOM HAS EGRESS

Property features AI

Exterior

• Parking: Detached garage (1 car)
• Utilities: Public water; Public sewer; Natural gas available
• Home design: Single-family residence; Residential property
• Construction: Frame construction
• Exterior features: Lot approximately 92' x 124'; R-3 zoning

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bathrooms: One main-level bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Dishwasher; Electric range; Microwave; Refrigerator; Gas water heater; Full finished basement
• Laundry & utility: Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $242 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 8.2% vs local median 2.5% in Kearney — 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 83/100 on livability (#11 in NE, #858 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute F.
• Kearney Public Schools (town): math 55% / reading 54% proficiency, ranked #43 of 111 in NE (top 39%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 110 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 125 units permitted in Buffalo County in 2024 (0 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 $4k of value loss. Plan a longer hold.
• Buffalo County population projected at +31% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $90k; list at $150k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $149,900

Questions for the listing agent

1. Built in 1947 — 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. Schools are A-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?
4. 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.
5. 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.
6. 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: 1.04% ✓
• Cap rate: 8.23%
• Cash-on-cash: 6.93%
• DSCR: 1.31
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $199,584
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2908 I Ave	0.04mi	2/1.0	1,126 (+7%)	22mo	$210,000	$187	65
2839 E Ave	0.27mi	2/1.0	912 (-14%)	2mo	$162,000	$178	60
721 E 26th St	0.28mi	3/1.0 (+1)	1,184 (+12%)	8mo	$183,500	$155	50
3803 E Ave	0.61mi	2/1.0	957 (-9%)	10mo	$210,000	$219	44
3311 F Ave	0.32mi	2/2.0	1,200 (+14%)	23mo	$237,000	$198	43
2112 Ave C Ave	0.73mi	3/1.0 (+1)	1,106 (+5%)	10mo	$209,000	$189	41
3916 H Ave	0.67mi	2/1.0	984 (-7%)	16mo	$197,500	$201	40
4015 H Ave	0.72mi	2/1.0	936 (-11%)	12mo	$217,500	$232	33
2118 C Ave	0.71mi	2/1.0	919 (-13%)	11mo	$155,000	$169	32

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: -5.7%
• Equity multiple: 0.79×
• Total profit: $-8,853
• Equity at exit: $22,351

10-year hold

• IRR: 4.0%
• Equity multiple: 1.29×
• Total profit: $12,161
• Equity at exit: $12,961

Cash invested: $41,972 (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 68847

• Active inventory: 110
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,563 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$144 /mo · $1,727/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$328
• Net cashflow: $242

Break-even live

Break-even rent $1,256

Max offer price $149,900

Occupancy floor 79%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2119 State ST Apt 201 Kearney, NE	2.0	2.0	1191	$1,899	$1.59	43d	1	0.77mi
1319 E 45th St Kearney, NE	1.0–2.0	1.0–2.0	825	$1,105	$1.34	43d	1	0.93mi

Listing history 3 events

1. 2026-06-19
   days on market $149,900 Active 2 DOM
2. 2026-06-17
   remarks 252-char remark
3. 2026-06-17
   listed $149,900 Active 1 DOM

ⓘ 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: $1,727 · $144/mo
• Projected year-2 tax: $2,593 · $216/mo
• Expected delta: +$866/yr (+$72/mo · 50.2%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°F today · 16 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: $18,758
• − Mortgage interest: −$8,397
• − Property taxes: −$1,727
• − Insurance: −$750
• − Repairs & maintenance: −$1,501
• − Management: −$1,501
• − Depreciation: −$4,361
• Taxable income: $523
• Est. tax owed @ 24.0%: −$125
• After-tax cash flow: $2,784/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: Kearney Public Schools
• NCES district ID: 3172390
• Math proficiency: 55% ▼ -3.00%
• Reading proficiency: 54% ▼ -4.00%
• Median HH income: $50,913
• Composite: 46.61/100
• National rank: #2415
• State rank: #43 of 111 in NE

Livability — Kearney

• Score: 83/100
• State rank: #11
• US rank: #858

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kearney, NE
• City population: 20,536
• Population (ZIP): 17,911

Population outlook (Buffalo County) Hauer SSP2

• Today (2025): 54,980 people
• By 2030: 58,298 · +6.0%
• By 2040: 64,975 · +18.2%
• By 2050: 72,054 · +31.1%
• By 2075: 90,838 · +65.2%
• By 2100: 106,838 · +94.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 11% Two or more races 4% Asian 3%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Lithuanian 3% Romanian 2% Italian 2%
• Foreign-born: 6% · Canada, China, South Korea
• Languages at home: 91% English-only · Spanish 5% Chinese 2% German/W. Germanic 1%

Political lean MEDSL · Buffalo

• 2024 margin: Solid R (+44.9) · D 26.9% · R 71.8% · Other 1.3%
• 2008→2024 swing: -7.5pp toward R · 2008: -37.5pp · 2024: -44.9pp
• All cycles: 2024: R+44.9 2020: R+43.4 2016: R+47.5 2012: R+42.6 2008: R+37.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -129.96%
• Current HPI: 205.0002
• 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

+140.2% since first listed

4 events — show timeline

• 2026-06-17 Listed $149,900 GMNMLS
• 2015-08-28 Sold (Public Records) $90,000 Public Records
• 2012-04-07 Sold (Public Records) $88,500 Public Records
• 2005-03-14 Sold (Public Records) $62,400 Public Records

Property tax history

+0.2%/yr

Latest (2025): $1,727 · +7.0% YoY. Source: county tax records.