504 Market St · Talmage, NE 68448

$124,900

3 bd · 2.0 ba · 1,635 sqft · SingleFamily public records · 8 Days on market

Built 1907 0.28 ac lot Est $95k · 32% over

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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 +26.7/30.0
• Appreciation +10.0/10.0
• DSCR +9.2/10.0
• 1% rule +5.9/10.0
• Schools +4.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks

Here’s your affordable small-town dream!! This sale includes a fully updated two-story home plus two additional lots with utilities in place—room to expand, garden, or add a garage or shop. The 2+1 bedroom home features a NEW roof, gutters, appliances, cabinets, flooring, and paint throughout. HVAC and water heater were professionally inspected and serviced in 2025, making this home truly turn-key. Enjoy the charm of small-town Nebraska living—quiet streets, a large yard, and a home that’s already done right. You won’t find this much space, quality, and peace of mind for the price anywhere else!

Key facts

• Two additional lots
• Fully updated
• Large yard

Tags

• FULLY UPDATED
• TWO ADDITIONAL LOTS
• ROOM TO EXPAND
• LARGE YARD
• PROFESSIONALLY INSPECTED

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $337 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).

Location & tenants

• Location reads 60/100 on livability (#473 in NE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime D+, amenities F.
• Johnson County Central Public Schools (rural): math 47% / reading 48% proficiency, ranked #73 of 111 in NE (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Johnson Co Central Elem-Cook (math 52% / reading 57%, grade C, #161 of 502 statewide, top 38%, 79 students, 40% FRL); Johnson Co Central Middle Sch (math 42% / reading 42%, grade D-, #72 of 128 statewide, top 61%, 119 students, 44% FRL); Johnson Co Central High School (math 24% / reading 44%, grade F, #208 of 261 statewide, top 86%, 153 students, 47% FRL) — zoned schools at 44% FRL track the district average.
• Market conditions: 3 active listings in the ZIP; 29 units permitted in Otoe County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($864 loan paydown + $12k appreciation (10.0% local appreciation)).
• Otoe County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts; this cycle's ask is 19% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $15k; list at $125k implies a 733% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1907 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $124,900

Questions for the listing agent

1. Built in 1907 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.09% ✓
• Cap rate: 9.53%
• Cash-on-cash: 11.58%
• DSCR: 1.52
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $94,830
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
304 Eldon St	0.29mi	3/1.5	1,627 (-0%)	2mo	$95,000	$58	82

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 32.8%
• Equity multiple: 3.56×
• Total profit: $89,458
• Equity at exit: $112,520

10-year hold

• IRR: 28.3%
• Equity multiple: 8.05×
• Total profit: $246,425
• Equity at exit: $242,653

Cash invested: $34,972 (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 68448

• Home prices YoY: 4.7%
• Active inventory: 3
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,360 medium
• Mortgage (P&I): −$655
• Tax from tax record: −$30 /mo · $356/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $337

Break-even live

Break-even rent $933

Max offer price $124,900

Occupancy floor 70%

Sensitivity live

Price	-10% $408	-5% $373	+0% $337	+5% $302	+10% $267
Rent	-10% $230	-5% $284	+0% $337	+5% $391	+10% $445
Rate	-1.0pp $400	-0.5pp $369	base $337	+0.5pp $305	+1.0pp $272

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-07
   statusdays on market $124,900 Pending 8 DOM
2. 2026-06-04
   days on market $124,900 Active 7 DOM
3. 2026-06-02
   days on market $124,900 Active 6 DOM
4. 2026-06-01
   statusdays on market $124,900 Active 5 DOM
5. 2026-05-31
   days on market $124,900 New 4 DOM
6. 2026-05-01
   historical
7. 2026-05-01
   listed $105,000
8. 2026-04-01
   status Pending
9. 2026-03-28
   historical
10. 2026-02-19
    historical
11. 2026-02-18
    listed $124,000 New
12. 2026-01-27
    historical
13. 2026-01-26
    listed $129,000 New
14. 2025-11-04
    listed $149,900 New
15. 2025-11-04
    historical
16. 2025-10-14
    listed $155,000 New
17. 2025-10-14
    historical
18. 2025-09-30
    listed $165,000 New
19. 2025-09-30
    historical
20. 2025-09-11
    listed $173,000 New
21. 2010-09-03
    soldstatus $15,000

ⓘ 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: $356 · $30/mo
• Projected year-2 tax: $2,161 · $180/mo
• Expected delta: +$1,804/yr (+$150/mo · 506.5%)

ⓘ 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 · 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: $16,316
• − Mortgage interest: −$6,996
• − Property taxes: −$356
• − Insurance: −$624
• − Repairs & maintenance: −$1,305
• − Management: −$1,305
• − Depreciation: −$3,633
• Taxable income: $2,095
• Est. tax owed @ 24.0%: −$503
• After-tax cash flow: $3,546/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: Johnson County Central Public Schools
• NCES district ID: 3100176
• Math proficiency: 47% ▲ 3.00%
• Reading proficiency: 48% ▲ 1.00%
• Median HH income: $44,058
• Composite: 40.15/100
• National rank: #3795
• State rank: #73 of 111 in NE

Livability — Talmage

• Score: 60/100
• State rank: #473
• US rank: #19050

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Talmage, NE
• Population (ZIP): 263

Population outlook (Otoe County) Hauer SSP2

• Today (2025): 16,475 people
• By 2030: 16,627 · +0.9%
• By 2040: 16,911 · +2.6%
• By 2050: 17,186 · +4.3%
• By 2075: 18,549 · +12.6%
• By 2100: 19,590 · +18.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 18%
• Hispanic origin (detail): Mexican 18%
• Common ancestry: Portuguese 21% Slovak 5% Lithuanian 4%

Political lean MEDSL · Otoe

• 2024 margin: Solid R (+38.9) · D 30.0% · R 68.9% · Other 1.0%
• 2008→2024 swing: -23.1pp toward R · 2008: -15.8pp · 2024: -38.9pp
• All cycles: 2024: R+38.9 2020: R+37.8 2016: R+38.7 2012: R+24.4 2008: R+15.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 10.29%
• Current HPI: 230.8763
• 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

+600.0% since first listed

16 events — show timeline

• 2026-05-01 Listed $105,000 GPRMLS
• 2026-05-01 Listing Removed — GPRMLS
• 2026-04-01 Pending — GPRMLS
• 2026-03-28 Listing Removed — GPRMLS
• 2026-02-19 Listing Removed — GPRMLS
• 2026-02-18 Listed $124,000 GPRMLS
• 2026-01-27 Listing Removed — GPRMLS
• 2026-01-26 Listed $129,000 GPRMLS
• 2025-11-04 Listing Removed — GPRMLS
• 2025-11-04 Listed $149,900 GPRMLS
• 2025-10-14 Listing Removed — GPRMLS
• 2025-10-14 Listed $155,000 GPRMLS
• 2025-09-30 Listing Removed — GPRMLS
• 2025-09-30 Listed $165,000 GPRMLS
• 2025-09-11 Listed $173,000 GPRMLS
• 2010-09-03 Sold (Public Records) $15,000 Public Records

Property tax history

-0.8%/yr

Latest (2025): $356 · +0.1% YoY. Source: county tax records.