520 W 27th St · Kearney, NE 68845

$1,000

6 bd · 5.0 ba · 2,189 sqft · Other public records · 32 Days on market

Built 1917 6,500 sqft lot

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Why this score? — see what drove the F 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 +7.5/30.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Rent growth +4.4/5.0
• Livability +4.2/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• DSCR +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

5-plex, 3 blocks East of the College. 4 units are one bedroom, one bath, Unit 5 is a 2 bedroom, 1 bath. On street & alley parking, NO Furnace or Hot water heater. Basement walls have been repaired & added 1 egress window. Sold at Public Auction "AS IS". Property currently vacant.

Key facts

• 5 plex
• One bedroom
• 2 bedroom

Tags

• 5 PLEX
• 3 BLOCKS EAST OF THE COLLEGE
• ONE BEDROOM
• ONE BATH
• 2 BEDROOM
• ALLEY PARKING

🔨 Auction listing. The $1,000 list price is a nominal opening bid, not a real ask — every metric below is computed on the estimated value $278,054 (ARV from comps), not the list price.

What this means for you Summary

Snapshot

• This is a 6-bed/5.0-bath other listed at $1k.

Deal economics

• At list price, monthly cash flow is $-342 ($-4k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $1k).
• Recommended offer: $970 (3.0% below list) — sets the bar for market timing.
• Cap rate 4.8% vs local median 2.5% in Kearney — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 83/100 on livability (#11 in NE, #858 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute F.
• Kearney Public Schools (town): math 55% / reading 54% proficiency, ranked #43 of 111 in NE (top 39%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+7.7%/yr); 133 active listings in the ZIP; solid renter incomes; 125 units permitted in Buffalo County in 2024 (0 in 5+ unit buildings).
• This rent runs 31% of the median local income ($77k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Buffalo County population projected at +31% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($970) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 417.1% of price; built in 1917 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $970 (3.0% 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 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
3. Built in 1917 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-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?
7. 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?
8. 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.
9. 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.
10. 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: 0.72% ✗
• Cap rate: 4.82%
• Cash-on-cash: -5.27%
• DSCR: 0.77
• GRM: 11.6

CMA / ARV

• ARV (median comp): $278,054
• List price: $1,000
• Delta: -99.64%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 7.74% rent growth · sell at horizon

5-year hold

• IRR: -20.1%
• Equity multiple: 0.27×
• Total profit: $-56,822
• Equity at exit: $41,459

10-year hold

• IRR: -5.3%
• Equity multiple: 0.59×
• Total profit: $-32,185
• Equity at exit: $24,041

Cash invested: $77,855 (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 68845

• Rents YoY: 7.7%
• Active inventory: 133

Monthly cashflow live

• Estimated rent: $1,999 medium
• Mortgage (P&I): −$1,458
• Tax est. 1.5%: −$348 /mo · $4,171/yr
• Insurance: −$116
• HOA: −$0
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $-342

Break-even live

Break-even rent $2,432

Max offer price $228,556

Occupancy floor —

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: $69,513
• Closing costs: $8,342
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-15
   status Pending 302-char remark

   Show marketing remark (302 chars)

   5-plex, 3 blocks East of the College. 4 units are one bedroom, one bath, Unit 5 is a 2 bedroom, 1 bath. On street & alley parking, NO Furnace or Hot water heater. Basement walls have been repaired & added 1 egress window. Sold at Public Auction "AS IS". Property currently vacant.

2. 2026-04-13
   listed $1,000 Active 302-char remark

   Show marketing remark (302 chars)

   5-plex, 3 blocks East of the College. 4 units are one bedroom, one bath, Unit 5 is a 2 bedroom, 1 bath. On street & alley parking, NO Furnace or Hot water heater. Basement walls have been repaired & added 1 egress window. Sold at Public Auction "AS IS". Property currently vacant.

ⓘ 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

• 🌡 Heat 3/10 Moderate
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,992
• − Mortgage interest: −$15,575
• − Property taxes: −$4,171
• − Insurance: −$1,390
• − Repairs & maintenance: −$1,919
• − Management: −$1,919
• − Depreciation: −$8,089
• Taxable loss: −$9,072
• Est. tax savings @ 24.0%: +$2,177
• After-tax cash flow: $-1,928/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: Kearney Public Schools
• NCES district ID: 3172390
• Math proficiency: 55% ▼ -3.00%
• Reading proficiency: 54% ▼ -4.00%
• Median HH income: $50,913
• Composite: 46.61/100
• National rank: #2415
• State rank: #43 of 111 in NE

Livability — Kearney

• Score: 83/100
• State rank: #11
• US rank: #858

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kearney, NE
• County: Buffalo County · 20,536 people
• City population: 20,536
• Metro: Kearney, NE
• Population (ZIP): 20,536
• Household income: $76,978
• Rent vs Own: 40.8% rent · 59.2% own
• Severe rent burden: 661.0

Population outlook (Buffalo County) Hauer SSP2

• Today (2025): 54,980 people
• By 2030: 58,298 · +6.0%
• By 2040: 64,975 · +18.2%
• By 2050: 72,054 · +31.1%
• By 2075: 90,838 · +65.2%
• By 2100: 106,838 · +94.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 10% Two or more races 5% Black 1% Asian 1%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Romanian 3% Italian 3% Lithuanian 2%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 7% German/W. Germanic 1% Other Asian/Pacific 1%

Political lean MEDSL · Buffalo

• 2024 margin: Solid R (+44.9) · D 26.9% · R 71.8% · Other 1.3%
• 2008→2024 swing: -7.5pp toward R · 2008: -37.5pp · 2024: -44.9pp
• All cycles: 2024: R+44.9 2020: R+43.4 2016: R+47.5 2012: R+42.6 2008: R+37.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -127.38%
• Current HPI: 218.8182
• Rent YoY: ▲ 7.74%
• Metro: Kearney, NE
• 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

2 events — show timeline

• 2026-05-15 Pending — GMNMLS
• 2026-04-13 Listed $1,000 GMNMLS

Property tax history

-0.4%/yr

Latest (2025): $1,370 · +2.3% YoY. Source: county tax records.