88 Dexter St

Wood Lake, NE 69221

$145,000D

4 bd · 1.0 ba · 1,710 sqft · Built 1920 · SingleFamily · Pending · 90 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,225/mo
• Mortgage (P&I): −$760
• Tax + insurance: −$242
• HOA: −$0
• Vac / Maint / Mgmt: −$257
• Net cashflow: $-34/mo
• Annual: $-408/yr
• Cap rate: 6.01%
• Cash-on-cash: -1.00%
• DSCR: 0.96
• 1% rule: 0.85%
• Cash to close: $40,600

Investor read

• This is a 4-bed/1.0-bath single-family listed at $145k. Condition is rated fair.
• 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).
• It's been on market 90 days — a 6% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $123k (15.5% below list) — sets the bar for 1% rule.
• In year one you build about $5k of equity ($1k loan paydown + $4k appreciation (3.0% local appreciation)).
• 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).
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 1 active listings in the ZIP; 15 units permitted in Cherry County in 2024 (0 in 5+ unit buildings).
• 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.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

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 90 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1920 — 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 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?
• 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?

Repairs flagged (vision-AI assessment)

• 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.