305 N Maple St N

Davenport, NE 68335

$94,000B

3 bd · 2.0 ba · 1,431 sqft · Built 1975 · Manufactured · Active · 66 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,103/mo
• Mortgage (P&I): −$493
• Tax + insurance: −$83
• HOA: −$0
• Vac / Maint / Mgmt: −$232
• Net cashflow: $296/mo
• Annual: $3,547/yr
• Cap rate: 10.07%
• Cash-on-cash: 13.48%
• DSCR: 1.60
• 1% rule: 1.17%
• Cash to close: $26,320

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $94k.
• At list price, monthly cash flow is $296 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $94k).
• It's been on market 66 days — a 6% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $88k (6.0% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($650 loan paydown + $3k appreciation (3.6% local appreciation)).
• Location reads 63/100 on livability (#415 in NE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-; Watch: health & safety C-, crime D+, amenities F.
• Bruning-Davenport Unified System (rural): math 70% / reading 50% proficiency, ranked #65 of 245 in NE (top 26%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Bruning-Davenport Elem/Bruning (43 students, 33% FRL); Bruning-Davenport Middle Sch (math 54% / reading 54%, grade B-, #32 of 128 statewide, top 28%, 49 students, 37% FRL); Bruning-Davenport High School (51 students, 35% FRL).
• Market conditions: 3 active listings in the ZIP; 3 units permitted in Thayer County in 2024 (0 in 5+ unit buildings).
• Thayer County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Current owner paid $32k; list at $94k implies a 194% gain — meaningful room to come down on a strong offer.
• At projected returns (3.6% appreciation + 3.0% rent growth), your $26k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1975 — 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.
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.