Boulder Plan

Ashland, NE 68003

$303,200F

3 bd · 3.0 ba · 1,799 sqft · Built — · SingleFamily · Active · 716 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,850/mo
• Mortgage (P&I): −$2,154
• Tax + insurance: −$684
• HOA: −$0
• Vac / Maint / Mgmt: −$388
• Net cashflow: $-1,377/mo
• Annual: $-16,519/yr
• Cap rate: 2.27%
• Cash-on-cash: -14.37%
• DSCR: 0.36
• 1% rule: 0.45%
• Cash to close: $114,988

Investor read

• This is a 3-bed/3.0-bath single-family listed at $303k.
• At list price, monthly cash flow is $-1k ($-17k/yr) — negative.
• To cash-flow at today's rent, offer at most $211k (30.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $185k (39.0% below list).
• It's been on market 716 days — a 12% lower offer ($267k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $185k (39.0% below list) — sets the bar for 1% rule.
• In year one you build about $3k of equity ($3k loan paydown + $550 appreciation (0.1% local appreciation)).
• Location reads 84/100 on livability (#8 in NE, #712 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities D+, commute F.
• Ashland-Greenwood Public Schools (town): math 51% / reading 54% proficiency, ranked #50 of 111 in NE (top 45%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 152 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 138 units permitted in Saunders County in 2024 (0 in 5+ unit buildings).
• Saunders County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 2.3% vs local median 1.8% in Ashland — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 716 days. Have you received any prior offers? Is the seller open to a 39% concession, seller financing, or rate buy-down credit?
• 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 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?
• 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?
• 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.