285 6th St

Max, NE 69037

$80,000B

4 bd · 1.0 ba · 2,112 sqft · Built 1910 · SingleFamily · Active · 26 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,290/mo
• Mortgage (P&I): −$420
• Tax + insurance: −$133
• HOA: −$0
• Vac / Maint / Mgmt: −$271
• Net cashflow: $467/mo
• Annual: $5,598/yr
• Cap rate: 13.29%
• Cash-on-cash: 24.99%
• DSCR: 2.11
• 1% rule: 1.61%
• Cash to close: $22,400

Investor read

• This is a 4-bed/1.0-bath single-family listed at $80k. Condition is rated poor.
• At list price, monthly cash flow is $467 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• It's been on market 26 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $79k (1.5% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($553 loan paydown + $2k appreciation (3.0% local appreciation)).
• Location reads 57/100 on livability (#505 in NE) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: health & safety C-, amenities F, commute F.
• Dundy County Stratton Public Schools (rural): math 35% / reading 45% proficiency, ranked #218 of 245 in NE (top 89%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 1 active listings in the ZIP; 5 units permitted in Dundy County in 2024 (0 in 5+ unit buildings).
• Dundy County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts 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.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1910 — 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — Significant wear and tear visible.
• Major: exterior siding — Peeling and in need of repainting.
• Major: flooring — Old and in need of replacement.
• Major: interior walls/paint — Visible wear and tear.
• Major: HVAC/mechanicals — Old and in need of replacement.
• Major: landscaping — Sparse and in need of improvement