308 E Kimball St · Callaway, NE 68825

$129,000

2 bd · 2.0 ba · 1,080 sqft · SingleFamily public records · 245 Days on market

Built 1920 6,771 sqft lot

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Why this score? — see what drove the D 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 +11.8/30.0
• ARV discount +7.5/15.0
• Appreciation +6.3/10.0
• Schools +4.4/10.0
• Livability +3.7/5.0
• DSCR +3.5/10.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

2 bedroom, one bath located on corner lot. Oak floors in living/ding room. Original trim, includes appliances. l car detached garage. Main floor laundry.

Key facts

• Main floor laundry
• Original trim
• Corner lot

Tags

• CORNER LOT
• OAK FLOORS
• ORIGINAL TRIM
• DETACHED GARAGE
• MAIN FLOOR LAUNDRY

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $129k.

Deal economics

• At list price, monthly cash flow is $-36 ($-435/yr) — negative.
• To cash-flow at today's rent, offer at most $123k (5.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $97k (24.7% below list).
• Recommended offer: $97k (24.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 73/100 on livability (#154 in NE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, amenities F, commute F.
• Callaway Public Schools (rural): math 50% / reading 50% proficiency, ranked #148 of 245 in NE (top 60%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Callaway Elementary School (math 44% / reading 54%, grade D, #233 of 502 statewide, top 52%, 101 students, 28% FRL); Callaway High School (math 44% / reading 44%, grade F, #146 of 261 statewide, top 67%, 79 students, 37% FRL).
• Market conditions: 5 active listings in the ZIP; 22 units permitted in Custer County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($892 loan paydown + $3k appreciation (2.6% local appreciation)).
• Custer County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (2.6% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~8 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 245 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $97,151 (24.7% below list)

Questions for the listing agent

1. 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?
2. It's been on market 245 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.75% ✗
• Cap rate: 5.96%
• Cash-on-cash: -1.20%
• DSCR: 0.95
• GRM: 11.1

CMA / ARV

• ARV (on-the-fly): $71,280
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
101 S Needham Ave	0.14mi	2/1.0	1,024 (-5%)	15mo	$68,000	$66	68

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

2.58% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 5.1%
• Equity multiple: 1.29×
• Total profit: $10,334
• Equity at exit: $54,961

10-year hold

• IRR: 8.4%
• Equity multiple: 2.21×
• Total profit: $43,604
• Equity at exit: $82,408

Cash invested: $36,120 (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 68825

• Home prices YoY: 2.6%
• Active inventory: 5
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $972 medium
• Mortgage (P&I): −$676
• Tax from tax record: −$73 /mo · $882/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$204
• Net cashflow: $-36

Break-even live

Break-even rent $1,017

Max offer price $122,602

Occupancy floor 99%

Sensitivity live

Price	-10% $37	-5% $0	+0% $-36	+5% $-73	+10% $-109
Rent	-10% $-113	-5% $-75	+0% $-36	+5% $2	+10% $41
Rate	-1.0pp $29	-0.5pp $-3	base $-36	+0.5pp $-70	+1.0pp $-104

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2025-10-13
   status Pending
2. 2025-02-10
   listed $129,000 Active

ⓘ 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: $882 · $73/mo
• Projected year-2 tax: $2,232 · $186/mo
• Expected delta: +$1,350/yr (+$113/mo · 153.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥98°F today · 17 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: $11,658
• − Mortgage interest: −$7,226
• − Property taxes: −$882
• − Insurance: −$645
• − Repairs & maintenance: −$933
• − Management: −$933
• − Depreciation: −$3,753
• Taxable loss: −$2,713
• Est. tax savings @ 24.0%: +$651
• After-tax cash flow: $216/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: Callaway Public Schools
• NCES district ID: 3100012
• Math proficiency: 50% ▲ 15.00%
• Reading proficiency: 50% ▲ 10.00%
• Median HH income: $45,928
• Composite: 44.42/100
• National rank: #6106
• State rank: #148 of 245 in NE

Livability — Callaway

• Score: 73/100
• State rank: #154
• US rank: #5576

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Callaway, NE
• Population (ZIP): 983

Population outlook (Custer County) Hauer SSP2

• Today (2025): 10,538 people
• By 2030: 10,428 · -1.0%
• By 2040: 10,254 · -2.7%
• By 2050: 10,054 · -4.6%
• By 2075: 10,465 · -0.7%
• By 2100: 9,512 · -9.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 4%
• Common ancestry: Lithuanian 6% Subsaharan African 2% Portuguese 2%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Custer

• 2024 margin: Solid R (+72.3) · D 13.3% · R 85.7%
• 2008→2024 swing: -16.6pp toward R · 2008: -55.7pp · 2024: -72.3pp
• All cycles: 2024: R+72.3 2020: R+71.6 2016: R+72.5 2012: R+58.8 2008: R+55.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.58%
• Current HPI: 101.7145
• 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

2 events — show timeline

• 2025-10-13 Pending — GMNMLS
• 2025-02-10 Listed $129,000 GMNMLS