88 Dexter St · Wood Lake, NE 69221

$145,000

4 bd · 1.0 ba · 1,710 sqft · SingleFamily · 90 Days on market

Built 1920 Fair condition 0.44 ac lot ↓ 6% since listing

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Why this score? — see what drove the D 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 +12.0/30.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Schools +4.6/10.0
• DSCR +3.6/10.0
• 1% rule +3.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks

This four-bedroom, one-bath home features soaring ceilings and beautiful original hardwood floors in immaculate condition. Meticulously cared for, the home has served as a church parsonage for many years and reflects a strong sense of pride, history, and warmth throughout. Situated on four lots with a detached garage, the property offers generous outdoor space in a charming small town conveniently located between Valentine and Ainsworth, Nebraska. Filled with years of love and thoughtful care, this home is ready for its next chapter, waiting for you to make it your own. Call today and experience the comfort and connection of small-town living. This property is being sold as is, cash and con

Key facts

• Detached garage
• 0.44 acre lot
• 2 garage spots

Tags

• ORIGINAL HARDWOOD FLOORS
• GENEROUS OUTDOOR SPACE
• DETACHED GARAGE

Property features AI

Exterior

• Parking: Detached garage with 2 covered spaces (total parking for 2 vehicles)
• Utilities: Public water; Septic tank; Electricity available; Propane available
• Home design: Single-family residence; One and one-half stories; Originally built in 1920
• Construction: Foundation: Other
• Exterior features: Enclosed porch; Chain link fencing; Shed(s) on the property; Lot just under half an acre (approximately 0.43 acre / irregular 19,000 SF)

Interior

• Kitchen: Range; Oven; Refrigerator
• Bedrooms: Primary bedroom on the main floor; Additional bedrooms on the second floor
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Propane forced-air heating; Central air conditioning
• Interior features: Unfinished basement; Range; Oven; Refrigerator

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $145k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-34 ($-408/yr) — negative.
• To cash-flow at today's rent, offer at most $140k (3.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $123k (15.5% below list).
• Recommended offer: $123k (15.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 63/100 on livability (#413 in NE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-; Watch: crime C-, health & safety C-, amenities F.
• Valentine Community Schools (town): math 55% / reading 54% proficiency, ranked #47 of 111 in NE (top 42%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Valentine Middle School (math 57% / reading 52%, grade B-, #32 of 128 statewide, top 28%, 160 students, 51% FRL); Valentine High School (math 44% / reading 44%, grade F, #146 of 261 statewide, top 67%, 164 students, 40% FRL).
• Market conditions: 1 active listings in the ZIP; 15 units permitted in Cherry County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($1k loan paydown + $4k appreciation (3.0% local appreciation)).
• Cherry County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $41k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($136k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $122,541 (15.5% below list)

Questions for the listing agent

1. 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?
2. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. 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?
9. 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.
10. 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.
11. 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: 0.85% ✗
• Cap rate: 6.01%
• Cash-on-cash: -1.00%
• DSCR: 0.96
• GRM: 9.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 6.6%
• Equity multiple: 1.38×
• Total profit: $15,321
• Equity at exit: $65,198

10-year hold

• IRR: 9.4%
• Equity multiple: 2.42×
• Total profit: $57,624
• Equity at exit: $100,478

Cash invested: $40,600 (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 69221

• Active inventory: 1
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,225 medium
• Mortgage (P&I): −$760
• Tax est. 1.5%: −$181 /mo · $2,175/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $-34

Break-even live

Break-even rent $1,268

Max offer price $140,082

Occupancy floor 98%

Sensitivity live

Price	-10% $66	-5% $16	+0% $-34	+5% $-84	+10% $-134
Rent	-10% $-131	-5% $-82	+0% $-34	+5% $14	+10% $63
Rate	-1.0pp $39	-0.5pp $3	base $-34	+0.5pp $-72	+1.0pp $-110

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-04-30
   status Pending
2. 2026-04-20
   price $145,000
3. 2026-01-29
   listed $155,000 New

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥98°F today · 16 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: $14,705
• − Mortgage interest: −$8,122
• − Property taxes: −$2,175
• − Insurance: −$725
• − Repairs & maintenance: −$1,176
• − Management: −$1,176
• − Depreciation: −$4,218
• Taxable loss: −$2,888
• Est. tax savings @ 24.0%: +$693
• After-tax cash flow: $285/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.

Condition & rehab AI · 13 photos

Fair 45/100 Moderate rehab

This four-bedroom home requires moderate repairs and maintenance, including painting, updating the interior, and replacing the flooring. It has a good roof and foundation, but the exterior and landscaping need attention. The home is located in a charming small town and has the potential to be a great investment with the right updates.

Repairs flagged

• Major Carpeted floors — Significant wear and tear.
• Moderate Interior walls/paint — Chipped paint in some areas.
• Minor Landscaping — Sparse and in need of maintenance.
• Minor Bathroom fixtures — Dated appearance but functional.

Value-add opportunities

• Both Painting and updating the interior walls — Improves the overall appearance and can attract more buyers.
• Both Landscaping and curb appeal — Enhances the home's curb appeal and can attract more renters.
• Both Flooring replacement — New flooring can significantly improve the home's appearance and functionality.
• Both Bathroom updates — Modernizing the bathroom can attract more buyers and renters.
• Both HVAC maintenance or replacement — Ensures the home is energy-efficient and comfortable for potential buyers and renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Carpeted floors · Significant wear and tear.	Major	$15,000–50,000
Interior walls/paint · Chipped paint in some areas.	Moderate	$3,000–15,000
Landscaping · Sparse and in need of maintenance.	Minor	$500–3,000
Bathroom fixtures · Dated appearance but functional.	Minor	$500–3,000
Total estimated repair cost · 4 items		$19,000–71,000

Value-add ROI direction

• Both Painting and updating the interior walls — Improves the overall appearance and can attract more buyers. ↑
• Both Landscaping and curb appeal — Enhances the home's curb appeal and can attract more renters. ↑
• Both Flooring replacement — New flooring can significantly improve the home's appearance and functionality. ↑
• Both Bathroom updates — Modernizing the bathroom can attract more buyers and renters. ↑
• Both HVAC maintenance or replacement — Ensures the home is energy-efficient and comfortable for potential buyers and renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Valentine Community Schools
• NCES district ID: 3178020
• Math proficiency: 55% ▼ -8.00%
• Reading proficiency: 54% ▼ -13.00%
• Median HH income: $47,004
• Composite: 46.24/100
• National rank: #2487
• State rank: #47 of 111 in NE

Livability — Wood Lake

• Score: 63/100
• State rank: #413
• US rank: #15902

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wood Lake, NE
• Population (ZIP): 68

Population outlook (Cherry County) Hauer SSP2

• Today (2025): 6,012 people
• By 2030: 6,111 · +1.6%
• By 2040: 6,359 · +5.8%
• By 2050: 6,690 · +11.3%
• By 2075: 7,974 · +32.6%
• By 2100: 8,850 · +47.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 13% Native American 3%
• Common ancestry: Lithuanian 31% Slovak 13% Iranian 10%

Political lean MEDSL · Cherry

• 2024 margin: Solid R (+76.2) · D 11.4% · R 87.5% · Other 1.1%
• 2008→2024 swing: -18.6pp toward R · 2008: -57.6pp · 2024: -76.2pp
• All cycles: 2024: R+76.2 2020: R+75.6 2016: R+74.8 2012: R+69.5 2008: R+57.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

-6.5% since first listed

3 events — show timeline

• 2026-04-30 Pending — GPRMLS
• 2026-04-20 Price Changed $145,000 GPRMLS
• 2026-01-29 Listed $155,000 GPRMLS