108 Plum St

Plainview, NE 68769

$120,000C+

4 bd · 2.0 ba · 1,733 sqft · Built 1900 · SingleFamily · Pending · 187 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,349/mo
• Mortgage (P&I): −$629
• Tax + insurance: −$187
• HOA: −$0
• Vac / Maint / Mgmt: −$283
• Net cashflow: $249/mo
• Annual: $2,991/yr
• Cap rate: 8.79%
• Cash-on-cash: 8.90%
• DSCR: 1.40
• 1% rule: 1.12%
• Cash to close: $33,600

Investor read

• This is a 4-bed/2.0-bath single-family listed at $120k.
• At list price, monthly cash flow is $249 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• It's been on market 187 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($830 loan paydown + $1k appreciation (1.0% local appreciation)).
• Location reads 79/100 on livability (#37 in NE, #2,023 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Plainview Public Schools (rural): math 55% / reading 55% proficiency, ranked #112 of 245 in NE (top 46%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 6 active listings in the ZIP; 15 units permitted in Pierce County in 2024 (0 in 5+ unit buildings).
• 2 sale attempts since 5y ago; this cycle's ask has dropped $45k (27%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (1.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~6 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 187 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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?
• 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.