202 E L St · Ogallala, NE 69153

$120,000

2 bd · 1.0 ba · 700 sqft · SingleFamily public records · 35 Days on market

Built 1885 $171/sqft · 50% above area

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Why this score? — see what drove the B+ 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 +30.0/30.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.0/10.0
• ARV discount +7.5/15.0
• Schools +4.0/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

NON MEMBER LISTING

Key facts

• Quiet street
• Recent updates
• Lawn services paid

Tags

• QUIET STREET
• RECENT UPDATES
• ONE YEAR OLD CARPORT
• STORAGE SHED
• MAJOR APPLIANCES INCLUDED
• LAWN SERVICES PAID

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $496 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#223 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.
• Ogallala Public Schools (town): math 45% / reading 49% proficiency, ranked #78 of 111 in NE (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 10 active listings in the ZIP; 38 units permitted in Keith County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($830 loan paydown + $12k appreciation (10.0% local appreciation)).
• Keith County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $60k; list at $120k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1885 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $116,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1885 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.30% ✓
• Cap rate: 11.25%
• Cash-on-cash: 17.70%
• DSCR: 1.79
• GRM: 6.4

CMA / ARV

• ARV (median comp): $79,829
• List price: $120,000
• Delta: 50.32%
• Verdict: OVERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 37.4%
• Equity multiple: 3.88×
• Total profit: $96,880
• Equity at exit: $108,106

10-year hold

• IRR: 32.2%
• Equity multiple: 8.75×
• Total profit: $260,411
• Equity at exit: $233,134

Cash invested: $33,600 (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 69153

• Home prices YoY: 8.5%
• Active inventory: 10
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,558 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$56 /mo · $675/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$327
• Net cashflow: $496

Break-even live

Break-even rent $931

Max offer price $120,000

Occupancy floor 63%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-16
   days on market $120,000 Active 35 DOM
2. 2026-06-15
   days on market $120,000 Active 34 DOM
3. 2026-06-13
   days on market $120,000 Active 32 DOM
4. 2026-06-12
   days on market $120,000 Active 31 DOM
5. 2026-06-09
   days on market $120,000 Active 28 DOM
6. 2026-06-08
   days on market $120,000 Active 27 DOM
7. 2026-06-07
   days on market $120,000 Active 26 DOM
8. 2026-06-07
   days on market $120,000 Active 25 DOM
9. 2026-06-04
   days on market $120,000 Active 22 DOM
10. 2026-06-02
    days on market $120,000 Active 21 DOM
11. 2026-06-01
    days on market $120,000 Active 20 DOM
12. 2026-05-31
    days on market $120,000 Active 19 DOM
13. 2026-05-12
    listed $120,000 Active 908-char remark
14. 2021-03-31
    soldstatus $60,000 18-char remark

    Show marketing remark (18 chars)

    NON MEMBER LISTING

15. 2021-03-31
    listed $65,000 18-char remark

    Show marketing remark (18 chars)

    NON MEMBER LISTING

16. 2021-03-31
    soldstatus $60,000

    Show marketing remark (18 chars)

    NON MEMBER LISTING

17. 1999-07-15
    soldstatus $20,500

ⓘ 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: $675 · $56/mo
• Projected year-2 tax: $2,076 · $173/mo
• Expected delta: +$1,401/yr (+$117/mo · 207.6%)

ⓘ 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 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: $18,699
• − Mortgage interest: −$6,722
• − Property taxes: −$675
• − Insurance: −$600
• − Repairs & maintenance: −$1,496
• − Management: −$1,496
• − Depreciation: −$3,491
• Taxable income: $4,220
• Est. tax owed @ 24.0%: −$1,013
• After-tax cash flow: $4,933/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: Ogallala Public Schools
• NCES district ID: 3174760
• Math proficiency: 45% ▼ -4.00%
• Reading proficiency: 49% ▲ 2.00%
• Median HH income: $42,347
• Composite: 39.56/100
• National rank: #3934
• State rank: #78 of 111 in NE

Livability — Ogallala

• Score: 70/100
• State rank: #223
• US rank: #7929

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ogallala, NE
• Population (ZIP): 5,968

Population outlook (Keith County) Hauer SSP2

• Today (2025): 7,706 people
• By 2030: 7,508 · -2.6%
• By 2040: 7,139 · -7.4%
• By 2050: 6,916 · -10.3%
• By 2075: 6,810 · -11.6%
• By 2100: 6,635 · -13.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 11% Two or more races 9% Black 2%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Lithuanian 5% Italian 3% Portuguese 2%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 5%

Political lean MEDSL · Keith

• 2024 margin: Solid R (+63.9) · D 17.4% · R 81.3% · Other 1.2%
• 2008→2024 swing: -14.3pp toward R · 2008: -49.6pp · 2024: -63.9pp
• All cycles: 2024: R+63.9 2020: R+63.7 2016: R+67.0 2012: R+52.6 2008: R+49.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 25.15%
• Current HPI: 321.546
• 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

+192.7% since first listed

4 events — show timeline

• 2021-03-31 Sold (Public Records) $60,000 Public Records
• 2021-03-31 Listed $65,000 LCBR
• 2021-03-31 Sold (MLS) $60,000 LCBR
• 1999-07-15 Sold (Public Records) $20,500 Public Records

Property tax history

+4.6%/yr

Latest (2025): $675 · +3.6% YoY. Source: county tax records.