300 & 304 S 7th St Unit 1-8

Tekamah, NE 68061

$1,275,000D

18 bd · 16.8 ba · 14,400 sqft · Built 1994 · MultiFamily · Active · 137 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $9,111/mo
• Mortgage (P&I): −$6,686
• Tax + insurance: −$2,125
• HOA: −$0
• Vac / Maint / Mgmt: −$1,913
• Net cashflow: $-1,614/mo
• Annual: $-19,363/yr
• Cap rate: 4.77%
• Cash-on-cash: -5.42%
• DSCR: 0.76
• 1% rule: 0.71%
• Cash to close: $357,000

Investor read

• This is a 6 × 3-bed/?-bath units multifamily listed at $1.27M.
• At list price, monthly cash flow is $-2k ($-19k/yr) — negative. Per door: $-269/mo.
• To cash-flow at today's rent, offer at most $1.04M (18.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $911k (28.5% below list).
• It's been on market 137 days — a 12% lower offer ($1.12M) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $911k (28.5% below list) — sets the bar for 1% rule.
• In year one you build about $109k of equity ($9k loan paydown + $100k appreciation (7.9% local appreciation)).
• Location reads 73/100 on livability (#138 in NE) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools C-, amenities F, commute F.
• Tekamah-Herman Community Schools (rural): math 47% / reading 47% proficiency, ranked #72 of 111 in NE (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 25 active listings in the ZIP; 15 units permitted in Burt County in 2024 (0 in 5+ unit buildings).
• Burt County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 16y 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.
• By year 2, paydown + projected appreciation supports a ~$175k 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 137 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• 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.
• 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?
• 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.