224 S 12th St · Plattsmouth, NE 68048

$129,000

2 bd · 1.0 ba · 1,280 sqft · SingleFamily public records · 45 Days on market

Built 1895 0.40 ac lot $101/sqft · 29% below area Est $182k · 29% under ↓ 13% since listing

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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 +15.5/30.0
• ARV discount +15.0/15.0
• DSCR +4.8/10.0
• 1% rule +4.1/10.0
• Schools +3.8/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Hard-to-find diamond in the rough in the heart of historic Plattsmouth! Sitting pretty on a big double lot with mature trees, this fixer upper is just waiting for the right buyer with vision, grit, and a little HGTV energy. The heavy lifting has all started, NEWER A/C and furnace, roof, H20 heater, plumbing, electrical panel, driveway, & carport. Now roll up your sleeves, focus on the fun part: making it your own. Inside you’ll find a layout w/ great bones, kitchen, pantry and main floor laundry, dining room, living room, and two good-sized bedrooms. There’s also a bonus porch space just begging to be transformed into 3rd bed, or creative flex space. Oversized lot gives you

Key facts

• Newer furnace
• Newer a c
• Newer roof

Tags

• DOUBLE LOT
• MATURE TREES
• NEWER A C
• NEWER FURNACE
• NEWER ROOF
• NEWER H20 HEATER

Property features AI

Finance

• Other: Living area reported as 1,280 square feet

Exterior

• Parking: Carport (covered) with space for 1 vehicle; Total of 1 parking space
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property; Not new / not a model; One-story entry (main-floor living areas)
• Construction: Masonite exterior; Block foundation; Originally built in 1895
• Exterior features: Front porch; Deck; Lot is over 1/4 up to 1/2 acre (approximately 0.4 acres); Lot dimensions approximately 160 x 180; Lot included in price

Interior

• Kitchen: Oven; Refrigerator
• Bedrooms: Primary bedroom on the main floor; Additional bedrooms on the main floor
• Bathrooms: One full bathroom on the main floor
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Unfinished basement (exists); No fireplaces

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $129k.

Deal economics

• At list price, monthly cash flow is $51 ($617/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 $117k (9.0% below list).
• Recommended offer: $117k (9.0% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 3.3% in Plattsmouth — 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 75/100 on livability (#94 in NE, #3,825 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Plattsmouth Community Schools (town): math 40% / reading 46% proficiency, ranked #87 of 111 in NE (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Plattsmouth Early Childhood (167 students, 73% FRL); Plattsmouth Middle School (math 38% / reading 45%, grade F, #80 of 128 statewide, top 63%, 395 students, 43% FRL); Plattsmouth High School (math 37% / reading 37%, grade F, #201 of 261 statewide, top 78%, 491 students, 36% FRL) — zoned schools average 51% FRL vs 32% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 180 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 86 units permitted in Cass County in 2024 (30 in 5+ unit buildings).
• This rent is only 16% of the median local income ($90k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $892 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Cass County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($125k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1895 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $117,336 (9.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1895 — 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. 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?
5. 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.
6. 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.
7. 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: 0.91% ✗
• Cap rate: 6.77%
• Cash-on-cash: 1.71%
• DSCR: 1.08
• GRM: 9.2

CMA / ARV

• ARV (median comp): $181,528
• List price: $129,000
• Delta: -28.94%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
910 2nd Ave	0.18mi	2/1.0	1,268 (-1%)	2mo	$125,000	$99	89
1116 Avenue B	0.29mi	3/1.0 (+1)	1,316 (+3%)	2mo	$213,000	$162	76
207 S 6th St	0.41mi	2/1.5	1,260 (-2%)	2mo	$105,000	$83	75
1709 2nd Ave	0.33mi	2/1.0	1,173 (-8%)	3mo	$216,000	$184	68
314 2 Ave	0.55mi	2/1.5	1,337 (+4%)	6mo	$224,700	$168	60
503 Lincoln Ave	0.53mi	3/1.0 (+1)	1,369 (+7%)	3mo	$56,000	$41	56
812 Lincoln Ave	0.58mi	3/1.5 (+1)	1,350 (+6%)	3mo	$160,000	$119	55
714 Avenue C	0.46mi	3/1.0 (+1)	1,137 (-11%)	4mo	$190,000	$167	52
612 Avenue C	0.51mi	3/1.5 (+1)	1,425 (+11%)	4mo	$200,000	$140	47
907 9th Ave	0.58mi	3/2.0 (+1)	1,391 (+9%)	3mo	$240,000	$173	47
1117 9th Ave	0.53mi	3/2.0 (+1)	1,412 (+10%)	4mo	$213,500	$151	46
104 E Deer Ln	0.60mi	2/2.0	1,440 (+12%)	2mo	$230,000	$160	46

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: -13.6%
• Equity multiple: 0.51×
• Total profit: $-17,621
• Equity at exit: $19,234

10-year hold

• IRR: -4.7%
• Equity multiple: 0.69×
• Total profit: $-11,095
• Equity at exit: $11,154

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 68048

• Home prices YoY: -25.2%
• Active inventory: 180
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,173 medium
• Mortgage (P&I): −$676
• Tax from tax record: −$145 /mo · $1,744/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$246
• Net cashflow: $51

Break-even live

Break-even rent $1,108

Max offer price $129,000

Occupancy floor 91%

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: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1712 4th Ave Plattsmouth, NE	2.0	1.0	1000	$1,077	$1.08	1d	5	0.35mi
546 Main St Unit 3I Plattsmouth, NE	2.0	1.0	1000	$925	$0.93	10d	1	0.45mi
2211 1st Ave Plattsmouth, NE	1.0–2.0	1.0–2.0	1111	$1,649	$1.48	1d	20	0.68mi

Listing history 15 events

1. 2026-06-18
   days on market $129,000 Active 45 DOM
2. 2026-06-17
   days on market $129,000 Active 44 DOM
3. 2026-06-16
   days on market $129,000 Active 43 DOM
4. 2026-06-15
   days on market $129,000 Active 42 DOM
5. 2026-06-13
   days on market $129,000 Active 40 DOM
6. 2026-06-10
   days on market $129,000 Active 37 DOM
7. 2026-06-09
   days on market $129,000 Active 36 DOM
8. 2026-06-08
   days on market $129,000 Active 35 DOM
9. 2026-06-07
   days on market $129,000 Active 34 DOM
10. 2026-06-03
    days on market $129,000 Active 30 DOM
11. 2026-06-03
    days on market $129,000 Active 29 DOM
12. 2026-06-01
    pricedays on market $129,000 Active 28 DOM
13. 2026-05-31
    days on market $139,000 Active 27 DOM
14. 2026-05-16
    price $139,000 1026-char remark
15. 2026-05-04
    listed $149,000 New 1026-char remark

ⓘ 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: $1,744 · $145/mo
• Projected year-2 tax: $2,232 · $186/mo
• Expected delta: +$488/yr (+$41/mo · 28.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°F today · 15 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: $14,080
• − Mortgage interest: −$7,226
• − Property taxes: −$1,744
• − Insurance: −$645
• − Repairs & maintenance: −$1,126
• − Management: −$1,126
• − Depreciation: −$3,753
• Taxable loss: −$1,540
• Est. tax savings @ 24.0%: +$370
• After-tax cash flow: $987/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: Plattsmouth Community Schools
• NCES district ID: 3175660
• Math proficiency: 40% ▼ -9.00%
• Reading proficiency: 46% ▬ 0.00%
• Median HH income: $59,340
• Composite: 37.86/100
• National rank: #4326
• State rank: #87 of 111 in NE

Livability — Plattsmouth

• Score: 75/100
• State rank: #94
• US rank: #3825

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Plattsmouth, NE
• County: Cass County · 13,435 people
• City population: 13,435
• Metro: Omaha-Council Bluffs, NE-IA
• Population (ZIP): 13,435
• Household income: $89,931
• Rent vs Own: 16.0% rent · 84.0% own
• Severe rent burden: 64.0

Population outlook (Cass County) Hauer SSP2

• Today (2025): 26,174 people
• By 2030: 26,293 · +0.5%
• By 2040: 26,112 · -0.2%
• By 2050: 25,329 · -3.2%
• By 2075: 23,744 · -9.3%
• By 2100: 20,901 · -20.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 7% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 5% Slovak 2% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Cass

• 2024 margin: Solid R (+37.2) · D 30.6% · R 67.8% · Other 1.6%
• 2008→2024 swing: -17.7pp toward R · 2008: -19.5pp · 2024: -37.2pp
• All cycles: 2024: R+37.2 2020: R+35.1 2016: R+39.1 2012: R+26.4 2008: R+19.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -75.50%
• Current HPI: 224.1437
• Rent YoY: —
• Metro: Omaha-Council Bluffs, NE-IA
• 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

-13.4% since first listed

3 events — show timeline

• 2026-06-01 Price Changed $129,000 GPRMLS
• 2026-05-16 Price Changed $139,000 GPRMLS
• 2026-05-04 Listed $149,000 GPRMLS

Property tax history

+1.7%/yr

Latest (2025): $1,744 · +16.6% YoY. Source: county tax records.