2304 N St · Auburn, NE 68305

$48,500

2 bd · 1.0 ba · 728 sqft · SingleFamily public records · 157 Days on market

Built 1900 6,970 sqft lot $67/sqft · 33% below area Est $73k · 33% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• Schools +4.4/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Property in Auburn featuring a large backyard with great potential. A solid opportunity for buyers looking to customize or add value.

Key facts

• 6,970 sq ft lot
• Garage
• Built 1900

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $48k.

Deal economics

• At list price, monthly cash flow is $232 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($696 rent vs $48k).
• Recommended offer: $43k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 77/100 on livability (#68 in NE, #3,032 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, cost of living A+; Watch: amenities F, commute F.
• Auburn Public Schools (town): math 49% / reading 56% proficiency, ranked #58 of 111 in NE (top 52%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 15 active listings in the ZIP; 13 units permitted in Nemaha County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $335 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Nemaha County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 157 days — a 12% lower offer ($43k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $17k; list at $48k implies a 185% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $42,680 (12.0% below list)

Questions for the listing agent

1. It's been on market 157 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.44% ✓
• Cap rate: 12.03%
• Cash-on-cash: 20.49%
• DSCR: 1.91
• GRM: 5.8

CMA / ARV

• ARV (median comp): $72,823
• List price: $48,500
• Delta: -33.40%
• Verdict: UNDERPRICED
• Comps: 17 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2115 M St	0.16mi	2/1.0	815 (+12%)	14mo	$100,000	$123	61
1509 P St St	0.59mi	2/1.0	732 (+0%)	16mo	$36,000	$49	58
1704 J St	0.52mi	2/1.0	780 (+7%)	10mo	$22,500	$29	56
1507 O St	0.59mi	2/1.0	672 (-8%)	23mo	$70,000	$104	41

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: 12.8%
• Equity multiple: 1.51×
• Total profit: $6,909
• Equity at exit: $7,232

10-year hold

• IRR: 21.7%
• Equity multiple: 2.84×
• Total profit: $25,033
• Equity at exit: $4,193

Cash invested: $13,580 (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 68305

• Home prices YoY: -12.9%
• Active inventory: 15
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $696 medium
• Mortgage (P&I): −$254
• Tax from tax record: −$43 /mo · $522/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$146
• Net cashflow: $232

Break-even live

Break-even rent $403

Max offer price $48,500

Occupancy floor 62%

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: $12,125
• Closing costs: $1,455
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $48,500 Active 157 DOM
2. 2026-06-17
   days on market $48,500 Active 156 DOM
3. 2026-06-16
   days on market $48,500 Active 155 DOM
4. 2026-06-15
   days on market $48,500 Active 154 DOM
5. 2026-06-13
   days on market $48,500 Active 152 DOM
6. 2026-06-12
   days on market $48,500 Active 151 DOM
7. 2026-06-09
   days on market $48,500 Active 148 DOM
8. 2026-06-08
   days on market $48,500 Active 147 DOM
9. 2026-06-07
   days on market $48,500 Active 146 DOM
10. 2026-06-07
    days on market $48,500 Active 145 DOM
11. 2026-06-04
    days on market $48,500 Active 142 DOM
12. 2026-06-02
    days on market $48,500 Active 141 DOM
13. 2026-06-01
    days on market $48,500 Active 140 DOM
14. 2026-05-31
    days on market $48,500 Active 139 DOM
15. 2026-04-27
    price $48,500 133-char remark

    Show marketing remark (133 chars)

    Property in Auburn featuring a large backyard with great potential. A solid opportunity for buyers looking to customize or add value.

16. 2026-01-10
    listed $55,000 New 133-char remark

    Show marketing remark (133 chars)

    Property in Auburn featuring a large backyard with great potential. A solid opportunity for buyers looking to customize or add value.

17. 2007-01-18
    soldstatus $17,000
18. 2006-02-17
    soldstatus $13,000
19. 1999-04-30
    soldstatus $18,000

ⓘ 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: $522 · $43/mo
• Projected year-2 tax: $839 · $70/mo
• Expected delta: +$317/yr (+$26/mo · 60.8%)

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥107°F today · 16 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: $8,353
• − Mortgage interest: −$2,717
• − Property taxes: −$522
• − Insurance: −$242
• − Repairs & maintenance: −$668
• − Management: −$668
• − Depreciation: −$1,411
• Taxable income: $2,125
• Est. tax owed @ 24.0%: −$510
• After-tax cash flow: $2,273/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: Auburn Public Schools
• NCES district ID: 3103330
• Math proficiency: 49% ▼ -8.00%
• Reading proficiency: 56% ▼ -8.00%
• Median HH income: $45,761
• Composite: 44.43/100
• National rank: #2807
• State rank: #58 of 111 in NE

Livability — Auburn

• Score: 77/100
• State rank: #68
• US rank: #3032

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Auburn, NE
• Population (ZIP): 4,338

Population outlook (Nemaha County) Hauer SSP2

• Today (2025): 7,018 people
• By 2030: 6,911 · -1.5%
• By 2040: 6,730 · -4.1%
• By 2050: 6,738 · -4.0%
• By 2075: 7,053 · +0.5%
• By 2100: 7,347 · +4.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 8% Hispanic / Latino 3%
• Common ancestry: Scotch-Irish 3% Slovak 2% Romanian 2%
• Foreign-born: 1% · Canada, Jamaica
• Languages at home: 95% English-only · Spanish 3% German/W. Germanic 1%

Political lean MEDSL · Nemaha

• 2024 margin: Solid R (+44.7) · D 26.8% · R 71.5% · Other 1.8%
• 2008→2024 swing: -19.0pp toward R · 2008: -25.7pp · 2024: -44.7pp
• All cycles: 2024: R+44.7 2020: R+43.9 2016: R+42.9 2012: R+28.5 2008: R+25.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -24.72%
• Current HPI: 166.7858
• 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

+169.4% since first listed

5 events — show timeline

• 2026-04-27 Price Changed $48,500 GPRMLS
• 2026-01-10 Listed $55,000 GPRMLS
• 2007-01-18 Sold (Public Records) $17,000 Public Records
• 2006-02-17 Sold (Public Records) $13,000 Public Records
• 1999-04-30 Sold (Public Records) $18,000 Public Records

Property tax history

+3.0%/yr

Latest (2025): $522 · -38.9% YoY. Source: county tax records.