816 S Kimball St · Grand Island, NE 68801

$135,000

3 bd · 1.0 ba · 800 sqft · SingleFamily public records · 66 Days on market

Built 1951 6,795 sqft lot $169/sqft · 18% below area Est $173k · 22% 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 +17.5/30.0
• ARV discount +15.0/15.0
• DSCR +5.5/10.0
• 1% rule +4.4/10.0
• Livability +4.0/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

No FHA or VA Loans due to repairs, this is being Sold As Is. 3-bedroom, 1-bath home with detached 2-car garage. Appliances included. Great opportunity for investors or buyers looking to build equity. Functional layout with potential to make it your own.

Key facts

• 6,795 sq ft lot
• 2 garage spots
• Built 1951

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $104 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $127k (5.6% below list).
• Recommended offer: $127k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.2% vs local median 3.6% in Grand Island — 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 79/100 on livability (#43 in NE, #2,252 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, schools D+, commute F.
• Grand Island Public Schools (urban): math 36% / reading 36% proficiency, ranked #102 of 111 in NE (top 92%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 160 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 246 units permitted in Hall County in 2024 (98 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Hall County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $54k; list at $135k implies a 150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $126,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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.
7. 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.
8. 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: 0.94% ✗
• Cap rate: 7.22%
• Cash-on-cash: 3.29%
• DSCR: 1.15
• GRM: 8.8

CMA / ARV

• ARV (median comp): $173,030
• List price: $135,000
• Delta: -21.98%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
940 S Oak	0.12mi	2/1.0 (-1)	836 (+4%)	1mo	$189,900	$227	81
312 Dodge St	0.18mi	2/1.0 (-1)	786 (-2%)	10mo	$195,500	$249	75
1018 S Vine St	0.26mi	2/1.0 (-1)	832 (+4%)	8mo	$145,000	$174	70
1108 S Clark St	0.35mi	2/1.0 (-1)	768 (-4%)	12mo	$145,000	$189	62
420 Nebraska Ave	0.37mi	2/1.0 (-1)	768 (-4%)	15mo	$170,000	$221	58
807 Claussen Ave	0.18mi	2/2.0 (-1)	872 (+9%)	17mo	$228,000	$261	53
621 E Bischeld St	0.54mi	3/1.0	912 (+14%)	4mo	$158,000	$173	48

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: -11.1%
• Equity multiple: 0.60×
• Total profit: $-15,267
• Equity at exit: $20,129

10-year hold

• IRR: -1.9%
• Equity multiple: 0.87×
• Total profit: $-4,782
• Equity at exit: $11,672

Cash invested: $37,800 (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 68801

• Active inventory: 160
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,274 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$138 /mo · $1,661/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $104

Break-even live

Break-even rent $1,143

Max offer price $135,000

Occupancy floor 87%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
406 Yund St Grand Island, NE	2.0	1.5	945	$1,200	$1.27	44d	1	0.64mi
309 W Hedde St Unit 26 Grand Island, NE	2.0	1.0	900	$950	$1.06	44d	1	0.66mi
2323 Bellwood Dr Grand Island, NE	1.0–3.0	1.5–2.0	963	$1,249	$1.30	44d	9	1.10mi

Listing history 14 events

1. 2026-06-12
   status $135,000 Pending 66 DOM
2. 2026-06-09
   days on market $135,000 Active 66 DOM
3. 2026-06-08
   days on market $135,000 Active 65 DOM
4. 2026-06-07
   days on market $135,000 Active 64 DOM
5. 2026-06-03
   days on market $135,000 Active 60 DOM
6. 2026-06-02
   days on market $135,000 Active 59 DOM
7. 2026-06-01
   days on market $135,000 Active 58 DOM
8. 2026-05-31
   days on market $135,000 Active 57 DOM
9. 2026-05-30
   days on market $135,000 Active 56 DOM
10. 2026-05-11
    status Active 253-char remark

    Show marketing remark (253 chars)

    No FHA or VA Loans due to repairs, this is being Sold As Is. 3-bedroom, 1-bath home with detached 2-car garage. Appliances included. Great opportunity for investors or buyers looking to build equity. Functional layout with potential to make it your own.

11. 2026-05-01
    status Pending 253-char remark

    Show marketing remark (253 chars)

    No FHA or VA Loans due to repairs, this is being Sold As Is. 3-bedroom, 1-bath home with detached 2-car garage. Appliances included. Great opportunity for investors or buyers looking to build equity. Functional layout with potential to make it your own.

12. 2026-04-25
    price $140,000 253-char remark

    Show marketing remark (253 chars)

    No FHA or VA Loans due to repairs, this is being Sold As Is. 3-bedroom, 1-bath home with detached 2-car garage. Appliances included. Great opportunity for investors or buyers looking to build equity. Functional layout with potential to make it your own.

13. 2026-03-25
    listed $150,000 Active 253-char remark

    Show marketing remark (253 chars)

    No FHA or VA Loans due to repairs, this is being Sold As Is. 3-bedroom, 1-bath home with detached 2-car garage. Appliances included. Great opportunity for investors or buyers looking to build equity. Functional layout with potential to make it your own.

14. 2006-09-27
    soldstatus $54,000

ⓘ 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: $1,661 · $138/mo
• Projected year-2 tax: $2,336 · $195/mo
• Expected delta: +$674/yr (+$56/mo · 40.6%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°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: $15,287
• − Mortgage interest: −$7,562
• − Property taxes: −$1,661
• − Insurance: −$675
• − Repairs & maintenance: −$1,223
• − Management: −$1,223
• − Depreciation: −$3,927
• Taxable loss: −$984
• Est. tax savings @ 24.0%: +$236
• After-tax cash flow: $1,481/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: Grand Island Public Schools
• NCES district ID: 3100016
• Math proficiency: 36% ▼ -5.00%
• Reading proficiency: 36% ▼ -5.00%
• Median HH income: $47,021
• Composite: 30.9/100
• National rank: #6117
• State rank: #102 of 111 in NE

Livability — Grand Island

• Score: 79/100
• State rank: #43
• US rank: #2252

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Grand Island, NE
• County: Hall County · 56,358 people
• City population: 56,358
• Metro: Grand Island, NE
• Population (ZIP): 30,824
• Household income: $63,617
• Rent vs Own: 42.6% rent · 57.4% own
• Severe rent burden: 895.0

Population outlook (Hall County) Hauer SSP2

• Today (2025): 68,137 people
• By 2030: 71,543 · +5.0%
• By 2040: 78,843 · +15.7%
• By 2050: 86,765 · +27.3%
• By 2075: 111,764 · +64.0%
• By 2100: 137,991 · +102.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 49% Hispanic / Latino 42% Two or more races 13% Black 5% Native American 1% Asian 1%
• Hispanic origin (detail): Mexican 22% Cuban 4%
• Common ancestry: Romanian 3% Ukrainian 2% Lithuanian 1%
• Foreign-born: 22% · Canada
• Languages at home: 64% English-only · Spanish 32% Arabic 1% Other Asian/Pacific 1%

Political lean MEDSL · Hall

• 2024 margin: Solid R (+37.8) · D 30.5% · R 68.3% · Other 1.2%
• 2008→2024 swing: -13.7pp toward R · 2008: -24.1pp · 2024: -37.8pp
• All cycles: 2024: R+37.8 2020: R+34.8 2016: R+37.5 2012: R+27.6 2008: R+24.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -148.38%
• Current HPI: 230.3861
• Rent YoY: —
• Metro: Grand Island, NE
• 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

+159.3% since first listed

5 events — show timeline

• 2026-05-11 Relisted — GIBOR
• 2026-05-01 Pending — GIBOR
• 2026-04-25 Price Changed $140,000 GIBOR
• 2026-03-25 Listed $150,000 GIBOR
• 2006-09-27 Sold (Public Records) $54,000 Public Records

Property tax history

+7.0%/yr

Latest (2025): $1,661 · +5.2% YoY. Source: county tax records.