615 Main St · Louisville, NE 68037

$80,000

2 bd · 1.0 ba · 1,260 sqft · SingleFamily public records

Built 1937 0.27 ac lot

---

Why this score? — see what drove the B- 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 +27.4/30.0
• DSCR +9.6/10.0
• 1% rule +9.1/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• Appreciation +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Amazing Remodeled Ranch! 2 Bed 1 Bath 1.5 Garage with large finished basement and Huge private back yard w/shed, fire pit & tons of patio space for enjoying the outdoors. Home has open concept with eat in kitchen, pantry, large living room and good size bedroom with walk in closets. The garage has concrete, insulation, power and a propane heater. Tons of off street parking and additional space in backyard to build an out building.

Key facts

• 0.27 acre lot
• Garage
• Built 1937

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $235 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).

Location & tenants

• Location reads 80/100 on livability (#27 in NE, #1,699 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F.
• Louisville Public Schools (rural): math 48% / reading 48% proficiency, ranked #65 of 111 in NE (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 12% free/reduced lunch — higher-income household profile.
• Zoned schools: Louisville Elementary School (math 52% / reading 52%, grade C-, #200 of 502 statewide, top 46%, 399 students, 18% FRL); Louisville Middle School (math 42% / reading 42%, grade D-, #72 of 128 statewide, top 61%, 115 students, 9% FRL); Louisville High School (math 54% / reading 64%, grade C+, #49 of 261 statewide, top 26%, 188 students, 20% FRL) — zoned schools at 15% FRL track the district average.
• Market conditions: 22 active listings in the ZIP; 86 units permitted in Cass County in 2024 (30 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $553 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Cass County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 16y ago 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.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; built in 1937 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $80,000

Questions for the listing agent

1. Built in 1937 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.41% ✓
• Cap rate: 9.82%
• Cash-on-cash: 12.59%
• DSCR: 1.56
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $246,960
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
143 N Depot St	0.54mi	2/1.0	1,196 (-5%)	2mo	$235,000	$196	65
505 E 7th St	0.30mi	2/1.5	1,216 (-4%)	19mo	$219,000	$180	62
811 Sandhill Rd	0.30mi	3/1.0 (+1)	1,344 (+7%)	14mo	$220,000	$164	58
413 Eastwood Dr	0.49mi	3/2.0 (+1)	1,380 (+10%)	4mo	$345,000	$250	49
210 Oak St	0.47mi	3/1.0 (+1)	1,213 (-4%)	23mo	$220,000	$181	48
117 Cherry St	0.39mi	2/1.5	1,363 (+8%)	24mo	$92,100	$68	46
405 Eastwood Dr	0.50mi	3/2.5 (+1)	1,380 (+10%)	7mo	$355,000	$257	44
514 Vine St	0.29mi	3/1.0 (+1)	1,080 (-14%)	18mo	$220,000	$204	42
1031 Prairie Hill Cir	0.43mi	2/2.0	1,386 (+10%)	21mo	$249,000	$180	42
345 Eastwood Dr	0.55mi	3/2.5 (+1)	1,351 (+7%)	18mo	$335,000	$248	36
804 E 2nd St	0.61mi	3/2.5 (+1)	1,200 (-5%)	23mo	$275,000	$229	33

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 2.4%
• Equity multiple: 1.09×
• Total profit: $2,087
• Equity at exit: $11,928

10-year hold

• IRR: 12.1%
• Equity multiple: 1.96×
• Total profit: $21,425
• Equity at exit: $6,917

Cash invested: $22,400 (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 68037

• Home prices YoY: -1.7%
• Active inventory: 22
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,131 medium
• Mortgage (P&I): −$420
• Tax from tax record: −$206 /mo · $2,470/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$238
• Net cashflow: $235

Break-even live

Break-even rent $834

Max offer price $80,000

Occupancy floor 74%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-05-06
   historical
2. 2026-05-06
   listed $80,000
3. 2019-05-24
   soldstatus $143,000 Sold 439-char remark

   Show marketing remark (439 chars)

   Amazing Remodeled Ranch! 2 Bed 1 Bath 1.5 Garage with large finished basement and Huge private back yard w/shed, fire pit & tons of patio space for enjoying the outdoors. Home has open concept with eat in kitchen, pantry, large living room and good size bedroom with walk in closets. The garage has concrete, insulation, power and a propane heater. Tons of off street parking and additional space in backyard to build an out building.

4. 2019-04-26
   status Pending 439-char remark

   Show marketing remark (439 chars)

   Amazing Remodeled Ranch! 2 Bed 1 Bath 1.5 Garage with large finished basement and Huge private back yard w/shed, fire pit & tons of patio space for enjoying the outdoors. Home has open concept with eat in kitchen, pantry, large living room and good size bedroom with walk in closets. The garage has concrete, insulation, power and a propane heater. Tons of off street parking and additional space in backyard to build an out building.

5. 2019-04-12
   listed $150,000 Active - New 439-char remark

   Show marketing remark (439 chars)

   Amazing Remodeled Ranch! 2 Bed 1 Bath 1.5 Garage with large finished basement and Huge private back yard w/shed, fire pit & tons of patio space for enjoying the outdoors. Home has open concept with eat in kitchen, pantry, large living room and good size bedroom with walk in closets. The garage has concrete, insulation, power and a propane heater. Tons of off street parking and additional space in backyard to build an out building.

6. 2015-10-28
   soldstatus $84,000 Sold 504-char remark

   Show marketing remark (504 chars)

   ama, This little charmer will steal your heart- not your wallet. Huge private back yard w/shed & tons of patio space for enjoying the outdoors. Dark skies and a quiet street make for star gazing perfection. Perfect ranch plan offers eat in kitchen and large living room with wide windows to watch the shimmering oak trees above. Lots of cabinet and closet space and full basement for tons of extra room. The garage has concrete, insulation and power. Tons of off street parking for your caravan

7. 2015-09-14
   status Pending 504-char remark

   Show marketing remark (504 chars)

   ama, This little charmer will steal your heart- not your wallet. Huge private back yard w/shed & tons of patio space for enjoying the outdoors. Dark skies and a quiet street make for star gazing perfection. Perfect ranch plan offers eat in kitchen and large living room with wide windows to watch the shimmering oak trees above. Lots of cabinet and closet space and full basement for tons of extra room. The garage has concrete, insulation and power. Tons of off street parking for your caravan

8. 2015-09-01
   listed $85,000 Active - New 504-char remark

   Show marketing remark (504 chars)

   ama, This little charmer will steal your heart- not your wallet. Huge private back yard w/shed & tons of patio space for enjoying the outdoors. Dark skies and a quiet street make for star gazing perfection. Perfect ranch plan offers eat in kitchen and large living room with wide windows to watch the shimmering oak trees above. Lots of cabinet and closet space and full basement for tons of extra room. The garage has concrete, insulation and power. Tons of off street parking for your caravan

9. 2011-02-24
   soldstatus $66,000
10. 2010-11-24
    soldstatus $66,000
11. 2010-11-12
    historical
12. 2010-09-21
    listed $74,000

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

Tax reassessment forecast NE · Resets to sale price

• Current annual tax: $2,470 · $206/mo
• Projected year-2 tax: $2,470 · $206/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°F today · 15 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: $13,575
• − Mortgage interest: −$4,481
• − Property taxes: −$2,470
• − Insurance: −$400
• − Repairs & maintenance: −$1,086
• − Management: −$1,086
• − Depreciation: −$2,327
• Taxable income: $1,725
• Est. tax owed @ 24.0%: −$414
• After-tax cash flow: $2,406/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.

Schools (NCES district)

• District: Louisville Public Schools
• NCES district ID: 3173050
• Math proficiency: 48% ▼ -12.00%
• Reading proficiency: 48% ▼ -9.00%
• Median HH income: $66,556
• Composite: 42.72/100
• National rank: #3163
• State rank: #65 of 111 in NE

Livability — Louisville

• Score: 80/100
• State rank: #27
• US rank: #1699

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Louisville, NE
• Population (ZIP): 2,471

Population outlook (Cass County) Hauer SSP2

• Today (2025): 26,174 people
• By 2030: 26,293 · +0.5%
• By 2040: 26,112 · -0.2%
• By 2050: 25,329 · -3.2%
• By 2075: 23,744 · -9.3%
• By 2100: 20,901 · -20.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Portuguese 3% Iranian 3% Romanian 3%
• Foreign-born: 1% · China
• Languages at home: 96% English-only · Other Asian/Pacific 3% Chinese 1%

Political lean MEDSL · Cass

• 2024 margin: Solid R (+37.2) · D 30.6% · R 67.8% · Other 1.6%
• 2008→2024 swing: -17.7pp toward R · 2008: -19.5pp · 2024: -37.2pp
• All cycles: 2024: R+37.2 2020: R+35.1 2016: R+39.1 2012: R+26.4 2008: R+19.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -4.01%
• Current HPI: 236.1302
• 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

+8.1% since first listed

12 events — show timeline

• 2026-05-06 Listed $80,000 GPRMLS
• 2026-05-06 Listing Removed — GPRMLS
• 2019-05-24 Sold (MLS) $143,000 GPRMLS
• 2019-04-26 Pending — GPRMLS
• 2019-04-12 Listed $150,000 GPRMLS
• 2015-10-28 Sold (MLS) $84,000 GPRMLS
• 2015-09-14 Pending — GPRMLS
• 2015-09-01 Listed $85,000 GPRMLS
• 2011-02-24 Sold (MLS) $66,000 GPRMLS
• 2010-11-24 Sold (Public Records) $66,000 Public Records
• 2010-11-12 Listing Removed — GPRMLS
• 2010-09-21 Listed $74,000 GPRMLS

Property tax history

+4.8%/yr

Latest (2025): $2,470 · +19.5% YoY. Source: county tax records.