204 St. Clare Ave

Genoa, NE 68640

$165,000D

2 bd · 1.0 ba · 1,480 sqft · Built 1915 · SingleFamily · Active · 199 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,115/mo
• Mortgage (P&I): −$865
• Tax + insurance: −$200
• HOA: −$0
• Vac / Maint / Mgmt: −$234
• Net cashflow: $-185/mo
• Annual: $-2,217/yr
• Cap rate: 4.95%
• Cash-on-cash: -4.80%
• DSCR: 0.79
• 1% rule: 0.68%
• Cash to close: $46,200

Investor read

• This is a 2-bed/1.0-bath single-family listed at $165k.
• At list price, monthly cash flow is $-185 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $132k (19.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $112k (32.4% below list).
• It's been on market 199 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $112k (32.4% below list) — sets the bar for 1% rule.
• In year one you build about $6k of equity ($1k loan paydown + $5k appreciation (3.0% local appreciation)).
• Location reads 70/100 on livability (#216 in NE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Twin River Public Schools (rural): math 45% / reading 48% proficiency, ranked #79 of 111 in NE (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Twin River Elem-Genoa (math 42% / reading 42%, grade F, #319 of 502 statewide, top 68%, 219 students, 38% FRL); Twin River Sr High School (math 47% / reading 52%, grade D, #107 of 261 statewide, top 52%, 190 students, 28% FRL).
• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 11 active listings in the ZIP; 4 units permitted in Nance County in 2024 (0 in 5+ unit buildings).
• Nance County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 6, paydown + projected appreciation supports a ~$33k 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 199 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
• Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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?
• 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.