821 2nd St · Friend, NE 68359

$110,000

1 bd · 1.0 ba · 924 sqft · SingleFamily public records · 42 Days on market

Built 1918 10,454 sqft lot $119/sqft · 11% below area Est $124k · 11% under

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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).

• ARV discount +12.6/15.0
• Cash flow +11.7/30.0
• Schools +4.9/10.0
• Livability +3.8/5.0
• DSCR +3.4/10.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for your first home or an investment opportunity. Look no further than this updated home. Open Living, Dining and Kitchen area. Kitchen has all new cupboards. Large mudroom and storage area. Property is big enough for a garage to be added. Call today

Key facts

• New furnace
• Water softener
• New driveway

Tags

• LIGHT FILLED LIVING AREAS
• NEW FURNACE
• NEW AC
• NEW SIDEWALK
• NEW DRIVEWAY
• WATER SOFTENER

Property features AI

Exterior

• Parking: No garage; Extra parking slab; Open parking available
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property; Single-story living (main-floor primary bedroom)
• Construction: Built in 1918; Block foundation
• Exterior features: Corner lot; Up to 1/4 acre lot

Interior

• Kitchen: Range; Refrigerator; Dishwasher
• Bedrooms: Master bedroom on the main floor
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Electric forced-air heating; Central air conditioning
• Interior features: Ceiling fan(s)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $-33 ($-392/yr) — negative.
• To cash-flow at today's rent, offer at most $104k (5.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $85k (22.8% below list).
• Recommended offer: $85k (22.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 76/100 on livability (#85 in NE, #3,558 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Friend Public Schools (rural): math 60% / reading 50% proficiency, ranked #102 of 245 in NE (top 42%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 19% free/reduced lunch — higher-income household profile.
• Zoned schools: Friend Elementary School (math 82% / reading 57%, grade A-, #39 of 502 statewide, top 11%, 147 students, 26% FRL); Friend High Schools (math 54% / reading 44%, grade D, #107 of 261 statewide, top 52%, 104 students, 29% FRL).
• Market conditions: 11 active listings in the ZIP; 36 units permitted in Saline County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Saline County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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.
• Current owner paid $90k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1918 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $84,975 (22.8% 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 42 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. Built in 1918 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.77% ✗
• Cap rate: 5.94%
• Cash-on-cash: -1.27%
• DSCR: 0.94
• GRM: 10.8

CMA / ARV

• ARV (median comp): $123,918
• List price: $110,000
• Delta: -11.23%
• Verdict: UNDERPRICED
• Comps: 12 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
512 Maple St	0.28mi	2/1.0 (+1)	852 (-8%)	20mo	$73,000	$86	52

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: -18.4%
• Equity multiple: 0.35×
• Total profit: $-19,928
• Equity at exit: $16,401

10-year hold

• IRR: -10.8%
• Equity multiple: 0.35×
• Total profit: $-20,122
• Equity at exit: $9,511

Cash invested: $30,800 (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 68359

• Home prices YoY: -8.6%
• Active inventory: 11
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $850 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$81 /mo · $976/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$178
• Net cashflow: $-33

Break-even live

Break-even rent $891

Max offer price $104,226

Occupancy floor 99%

Sensitivity live

Price	-10% $30	-5% $-2	+0% $-33	+5% $-64	+10% $-95
Rent	-10% $-100	-5% $-66	+0% $-33	+5% $1	+10% $34
Rate	-1.0pp $23	-0.5pp $-5	base $-33	+0.5pp $-61	+1.0pp $-90

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-04
   statusdays on market $110,000 Pending 42 DOM
2. 2026-06-02
   days on market $110,000 Active 41 DOM
3. 2026-06-01
   days on market $110,000 Active 40 DOM
4. 2026-05-31
   days on market $110,000 Active 39 DOM
5. 2026-04-07
   listed $110,000 New 747-char remark
6. 2023-09-06
   soldstatus $90,000
7. 2023-08-31
   soldstatus $90,000 Sold 258-char remark

   Show marketing remark (258 chars)

   Looking for your first home or an investment opportunity. Look no further than this updated home. Open Living, Dining and Kitchen area. Kitchen has all new cupboards. Large mudroom and storage area. Property is big enough for a garage to be added. Call today

8. 2023-07-22
   status Pending 258-char remark

   Show marketing remark (258 chars)

   Looking for your first home or an investment opportunity. Look no further than this updated home. Open Living, Dining and Kitchen area. Kitchen has all new cupboards. Large mudroom and storage area. Property is big enough for a garage to be added. Call today

9. 2023-07-13
   listed $85,000 New 258-char remark

   Show marketing remark (258 chars)

   Looking for your first home or an investment opportunity. Look no further than this updated home. Open Living, Dining and Kitchen area. Kitchen has all new cupboards. Large mudroom and storage area. Property is big enough for a garage to be added. Call today

10. 2012-11-09
    soldstatus $25,000

ⓘ 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: $976 · $81/mo
• Projected year-2 tax: $1,903 · $159/mo
• Expected delta: +$927/yr (+$77/mo · 95.1%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 72% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°F today · 17 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: $10,197
• − Mortgage interest: −$6,162
• − Property taxes: −$976
• − Insurance: −$550
• − Repairs & maintenance: −$816
• − Management: −$816
• − Depreciation: −$3,200
• Taxable loss: −$2,322
• Est. tax savings @ 24.0%: +$557
• After-tax cash flow: $165/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: Friend Public Schools
• NCES district ID: 3100096
• Math proficiency: 60% ▬ 0.00%
• Reading proficiency: 50% ▲ 5.00%
• Median HH income: $53,195
• Composite: 49.07/100
• National rank: #4426
• State rank: #102 of 245 in NE

Livability — Friend

• Score: 76/100
• State rank: #85
• US rank: #3558

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Friend, NE
• Population (ZIP): 1,512

Population outlook (Saline County) Hauer SSP2

• Today (2025): 15,242 people
• By 2030: 15,610 · +2.4%
• By 2040: 16,553 · +8.6%
• By 2050: 17,915 · +17.5%
• By 2075: 22,924 · +50.4%
• By 2100: 28,426 · +86.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Lithuanian 3% Romanian 2% Portuguese 2%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 95% English-only · Spanish 4%

Political lean MEDSL · Saline

• 2024 margin: Solid R (+33.2) · D 32.8% · R 66.0% · Other 1.2%
• 2008→2024 swing: -37.8pp toward R · 2008: 4.6pp · 2024: -33.2pp
• All cycles: 2024: R+33.2 2020: R+28.5 2016: R+25.4 2012: R+5.9 2008: D+4.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -19.91%
• Current HPI: 211.775
• 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

+340.0% since first listed

7 events — show timeline

• 2026-06-04 Pending — GPRMLS
• 2026-04-07 Listed $110,000 GPRMLS
• 2023-09-06 Sold (Public Records) $90,000 Public Records
• 2023-08-31 Sold (MLS) $90,000 GPRMLS
• 2023-07-22 Pending — GPRMLS
• 2023-07-13 Listed $85,000 GPRMLS
• 2012-11-09 Sold (Public Records) $25,000 Public Records

Property tax history

+3.9%/yr

Latest (2025): $976 · -6.3% YoY. Source: county tax records.