809 8th St

Wisner, NE 68791

$92,000C+

1 bd · 1.0 ba · 671 sqft · Built 1900 · SingleFamily · Active · 214 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $793/mo
• Mortgage (P&I): −$482
• Tax + insurance: −$135
• HOA: −$0
• Vac / Maint / Mgmt: −$166
• Net cashflow: $9/mo
• Annual: $111/yr
• Cap rate: 7.14%
• Cash-on-cash: 3.02%
• DSCR: 1.13
• 1% rule: 0.86%
• Cash to close: $25,760

Investor read

• This is a 1-bed/1.0-bath single-family listed at $92k.
• At list price, monthly cash flow is $9 ($111/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $79k (13.8% below list).
• It's been on market 214 days — a 12% lower offer ($81k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $79k (13.8% below list) — sets the bar for 1% rule.
• In year one you build about $5k of equity ($636 loan paydown + $4k appreciation (4.8% local appreciation)).
• Location reads 76/100 on livability (#81 in NE, #3,422 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Wisner-Pilger Public Schools (rural): math 51% / reading 52% proficiency, ranked #61 of 111 in NE (top 55%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Wisner-Pilger Elem School (math 57% / reading 57%, grade C+, #136 of 502 statewide, top 31%, 249 students, 53% FRL); Wisner-Pilger High School (math 42% / reading 47%, grade F, #146 of 261 statewide, top 67%, 188 students, 43% FRL) — zoned schools average 48% FRL vs 29% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: flood insurance adds $56/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 40 active listings in the ZIP; 13 units permitted in Cuming County in 2024 (0 in 5+ unit buildings).
• Cuming County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $25k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (4.8% appreciation + 3.0% rent growth), your $26k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 214 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.
• 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.