18 Otter Creek Ct

Belmar, NE 69147

$99,999C-

2 bd · 1.0 ba · 781 sqft · Built 2013 · SingleFamily · Active · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $843/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$74
• HOA: −$0
• Vac / Maint / Mgmt: −$177
• Net cashflow: $68/mo
• Annual: $813/yr
• Cap rate: 7.11%
• Cash-on-cash: 2.90%
• DSCR: 1.13
• 1% rule: 0.84%
• Cash to close: $28,000

Investor read

• This is a 2-bed/1.0-bath single-family listed at $100k.
• At list price, monthly cash flow is $68 ($813/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 $84k (15.7% below list).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $84k (15.7% below list) — sets the bar for 1% rule.
• In year one you build about $6k of equity ($691 loan paydown + $5k appreciation (5.3% local appreciation)).
• Location reads 51/100 on livability (#535 in NE) — a working-class tenant base; expect higher turnover. Strengths: housing A+, crime A; Watch: schools C-, health & safety C-, amenities 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: 6 active listings in the ZIP; 38 units permitted in Keith County in 2024 (0 in 5+ unit buildings).
• Keith County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $8k; list at $100k implies a 1182% gain — meaningful room to come down on a strong offer.
• At projected returns (5.3% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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.