1061 15th St

Henderson, NE 68371

$160,000C

3 bd · 2.0 ba · 1,980 sqft · Built 1920 · SingleFamily · Active · 217 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,231/mo
• Mortgage (P&I): −$839
• Tax + insurance: −$192
• HOA: −$0
• Vac / Maint / Mgmt: −$259
• Net cashflow: $-58/mo
• Annual: $-700/yr
• Cap rate: 5.86%
• Cash-on-cash: -1.56%
• DSCR: 0.93
• 1% rule: 0.77%
• Cash to close: $44,800

Investor read

• This is a 3-bed/2.0-bath single-family listed at $160k.
• At list price, monthly cash flow is $-58 ($-700/yr) — negative.
• To cash-flow at today's rent, offer at most $150k (6.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $123k (23.1% below list).
• It's been on market 217 days — a 12% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $123k (23.1% below list) — sets the bar for 1% rule.
• In year one you build about $17k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• Location reads 77/100 on livability (#66 in NE, #2,981 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Heartland Community Schools (rural): math 70% / reading 60% proficiency, ranked #30 of 245 in NE (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Heartland Community Elementary (math 52% / reading 62%, grade C+, #136 of 502 statewide, top 31%, 197 students, 36% FRL); Heartland Community High Sch (math 72% / reading 57%, grade B-, #25 of 261 statewide, top 13%, 156 students, 29% FRL).
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 9 active listings in the ZIP; 29 units permitted in York County in 2024 (0 in 5+ unit buildings).
• York County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• 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?
• It's been on market 217 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
• Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-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?
• 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.