520 Keene St

Ansley, NE 68814

$126,000B-

4 bd · 2.0 ba · 1,364 sqft · Built 1931 · SingleFamily · Pending · 27 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,450/mo
• Mortgage (P&I): −$661
• Tax + insurance: −$134
• HOA: −$0
• Vac / Maint / Mgmt: −$305
• Net cashflow: $350/mo
• Annual: $4,206/yr
• Cap rate: 9.63%
• Cash-on-cash: 11.92%
• DSCR: 1.53
• 1% rule: 1.15%
• Cash to close: $35,280

Investor read

• This is a 4-bed/2.0-bath single-family listed at $126k.
• At list price, monthly cash flow is $350 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $126k).
• It's been on market 27 days — a 2% lower offer ($124k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $124k (1.5% below list) — sets the bar for market timing.
• In year one you build about $5k of equity ($871 loan paydown + $4k appreciation (3.0% local appreciation)).
• Location reads 70/100 on livability (#232 in NE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: health & safety C-, amenities F, commute F.
• Ansley Public Schools (rural): math 45% / reading 45% proficiency, ranked #183 of 245 in NE (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1931 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 4 active listings in the ZIP; 22 units permitted in Custer County in 2024 (0 in 5+ unit buildings).
• Custer County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts 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.
• Current owner paid $35k; list at $126k implies a 260% gain — meaningful room to come down on a strong offer.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1931 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.