806 7th St · Norfolk, NE 68701

$1

2 bd · 2.0 ba · 1,124 sqft · SingleFamily public records · 21 Days on market

Built 1962 6,534 sqft lot

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Why this score? — see what drove the D 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 +13.0/30.0
• ARV discount +7.5/15.0
• DSCR +3.9/10.0
• Livability +3.9/5.0
• Schools +3.8/10.0
• 1% rule +3.7/10.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Real Estate Auction - 2 bd, 1 ba home in SE Norfolk. Both bedrooms have hardwood floors that are in very nice condition. The basement has one finished non-conforming bedroom. There is a detached 1 car garage and a fenced in back yard with a covered patio. This home will be offered on a live in-person auction at the property on Saturday June 26, 2026 at 10:00 AM. Open Houses will be held June 11th and June 17th both from 6pm - 7pm, or by appointment. The listed price does not reflect the selling price. • The property is being sold in “As Is” condition. • Purchase is not contingent on financing. If financing is needed, it must be arranged prior to bidding. • All bid

Key facts

• Covered patio
• Fenced in back yard
• Hardwood floors

Tags

• HARDWOOD FLOORS
• DETACHED GARAGE
• FENCED IN BACK YARD
• COVERED PATIO

Property features AI

Exterior

• Parking: Attached garage with 1 parking space
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Frame construction with wood siding; Asphalt roof; Full, partially finished basement
• Exterior features: Covered patio/porch; Shed(s)

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 bathroom on the main level
• Heating & cooling: Central air conditioning; Forced air heating; Gas water heater
• Interior features: Eat-in kitchen; Pantry; Window coverings
• Laundry & utility: Washer and dryer; Laundry located in basement

🔨 Auction listing. The $1 list price is a nominal opening bid, not a real ask — every metric below is computed on the estimated value $175,344 (ARV from comps), not the list price.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $1.

Deal economics

• At list price, monthly cash flow is $-11 ($-128/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $1).
• Cap rate 6.2% vs local median 3.2% in Norfolk — 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 78/100 on livability (#54 in NE, #2,611 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities F, commute F.
• Norfolk Public Schools (town): math 44% / reading 46% proficiency, ranked #84 of 111 in NE (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.3%/yr); 230 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 270 units permitted in Madison County in 2024 (196 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($0) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 263016.0% of price.

Recommended offer $1

Questions for the listing agent

1. 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?
2. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.87% ✗
• Cap rate: 6.22%
• Cash-on-cash: -0.26%
• DSCR: 0.99
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $175,344
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
602 7th St	0.19mi	2/1.0	1,144 (+2%)	11mo	$190,000	$166	75
1205 4th St	0.44mi	2/1.0	1,084 (-4%)	1mo	$169,000	$156	69
1225 Taylor Ave	0.47mi	2/2.0	1,054 (-6%)	1mo	$162,567	$154	67
410 Michigan	0.24mi	2/1.0	1,036 (-8%)	8mo	$203,000	$196	65
112 Pasewalk Ave	0.49mi	2/2.0	1,080 (-4%)	9mo	$200,000	$185	64
602 10th St	0.26mi	2/1.0	992 (-12%)	6mo	$137,500	$139	59
212 13th St	0.68mi	3/2.0 (+1)	1,092 (-3%)	0mo	$117,450	$108	58
801 4th St	0.29mi	2/1.0	962 (-14%)	1mo	$140,000	$146	57
404 12th St	0.45mi	2/2.0	1,005 (-11%)	6mo	$192,500	$192	56
400 Lincoln Ave	0.51mi	2/2.0	1,284 (+14%)	4mo	$110,000	$86	49
805 Glenwood Blvd	0.40mi	3/1.0 (+1)	1,000 (-11%)	6mo	$152,630	$153	49
1313 Park Ave	0.65mi	3/2.0 (+1)	1,209 (+8%)	6mo	$192,000	$159	47

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 · 3.31% rent growth · sell at horizon

5-year hold

• IRR: -16.4%
• Equity multiple: 0.42×
• Total profit: $-28,596
• Equity at exit: $26,144

10-year hold

• IRR: -7.5%
• Equity multiple: 0.52×
• Total profit: $-23,721
• Equity at exit: $15,161

Cash invested: $49,096 (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 68701

• Rents YoY: 3.3%
• Active inventory: 230

Monthly cashflow live

• Estimated rent: $1,520 medium
• Mortgage (P&I): −$920
• Tax est. 1.5%: −$219 /mo · $2,630/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$319
• Net cashflow: $-11

Break-even live

Break-even rent $1,534

Max offer price $173,795

Occupancy floor 96%

Sensitivity live

Price	-10% $110	-5% $50	+0% $-11	+5% $-71	+10% $-132
Rent	-10% $-131	-5% $-71	+0% $-11	+5% $49	+10% $109
Rate	-1.0pp $78	-0.5pp $34	base $-11	+0.5pp $-56	+1.0pp $-102

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: $43,836
• Closing costs: $5,260
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1208 Koenigstein Ave Norfolk, NE	3.0	1.5	1140	$2,200	$1.93	44d	1	0.79mi
1805 Parker Cir Norfolk, NE	2.0	1.0	700	$1,095	$1.56	44d	1	0.91mi

Listing history 16 events

1. 2026-06-19
   days on market $1 Active 21 DOM
2. 2026-06-18
   days on market $1 Active 20 DOM
3. 2026-06-17
   days on market $1 Active 19 DOM
4. 2026-06-16
   days on market $1 Active 18 DOM
5. 2026-06-15
   days on market $1 Active 17 DOM
6. 2026-06-14
   days on market $1 Active 15 DOM
7. 2026-06-12
   days on market $1 Active 14 DOM
8. 2026-06-09
   days on market $1 Active 11 DOM
9. 2026-06-08
   days on market $1 Active 10 DOM
10. 2026-06-07
    days on market $1 Active 9 DOM
11. 2026-06-05
    days on market $1 Active 6 DOM
12. 2026-06-03
    days on market $1 Active 5 DOM
13. 2026-06-02
    days on market $1 Active 4 DOM
14. 2026-06-01
    days on market $1 Active 3 DOM
15. 2026-05-31
    days on market $1 Active 2 DOM
16. 2026-05-28
    listed $1 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,244
• − Mortgage interest: −$9,822
• − Property taxes: −$2,630
• − Insurance: −$877
• − Repairs & maintenance: −$1,460
• − Management: −$1,460
• − Depreciation: −$5,101
• Taxable loss: −$3,105
• Est. tax savings @ 24.0%: +$745
• After-tax cash flow: $617/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: Norfolk Public Schools
• NCES district ID: 3174430
• Math proficiency: 44% ▼ -7.00%
• Reading proficiency: 46% ▼ -7.00%
• Median HH income: $46,579
• Composite: 38.31/100
• National rank: #4227
• State rank: #84 of 111 in NE

Livability — Norfolk

• Score: 78/100
• State rank: #54
• US rank: #2611

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Norfolk, NE
• County: Madison County · 31,417 people
• City population: 31,417
• Metro: Norfolk, NE
• Population (ZIP): 31,417
• Household income: $62,633
• Rent vs Own: 35.5% rent · 64.5% own
• Severe rent burden: 861.0

Population outlook (Madison County) Hauer SSP2

• Today (2025): 35,536 people
• By 2030: 35,518 · -0.1%
• By 2040: 35,170 · -1.0%
• By 2050: 34,606 · -2.6%
• By 2075: 34,522 · -2.9%
• By 2100: 34,307 · -3.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Hispanic / Latino 14% Two or more races 9% Native American 1% Black 1%
• Hispanic origin (detail): Mexican 11% Cuban 1%
• Common ancestry: Portuguese 2% Romanian 1% Lithuanian 1%
• Foreign-born: 6% · Canada
• Languages at home: 90% English-only · Spanish 9%

Political lean MEDSL · Madison

• 2024 margin: Solid R (+56.0) · D 21.4% · R 77.4% · Other 1.2%
• 2008→2024 swing: -16.8pp toward R · 2008: -39.2pp · 2024: -56.0pp
• All cycles: 2024: R+56.0 2020: R+53.5 2016: R+56.3 2012: R+48.1 2008: R+39.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -172.61%
• Current HPI: 260.5574
• Rent YoY: ▲ 3.31%
• Metro: Norfolk, NE
• State GDP YoY: ▲ 0.68%
• F500 in state: 2

Industry mix (Fortune 500 HQ in NE)

Industry	F500 HQs	Revenue
▸Conglomerate	1	$371B

Property tax history

-6.0%/yr

Latest (2025): $480 · -37.3% YoY. Source: county tax records.