306 Padua Ave

Ravenna, NE 69969

$149,900D-

3 bd · 1.0 ba · 1,456 sqft · Built 1920 · SingleFamily · Active · 36 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,238/mo
• Mortgage (P&I): −$786
• Tax + insurance: −$250
• HOA: −$0
• Vac / Maint / Mgmt: −$260
• Net cashflow: $-58/mo
• Annual: $-698/yr
• Cap rate: 5.83%
• Cash-on-cash: -1.66%
• DSCR: 0.93
• 1% rule: 0.83%
• Cash to close: $41,972

Investor read

• This is a 3-bed/1.0-bath single-family listed at $150k. Condition is rated poor.
• At list price, monthly cash flow is $-58 ($-698/yr) — negative.
• To cash-flow at today's rent, offer at most $141k (5.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $124k (17.4% below list).
• It's been on market 36 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $124k (17.4% below list) — sets the bar for 1% rule.
• In year one you build about $6k of equity ($1k loan paydown + $4k appreciation (3.0% local appreciation)).
• Location reads 71/100 on livability (#199 in NE) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Ravenna Public Schools (rural): math 60% / reading 50% proficiency, ranked #113 of 245 in NE (top 46%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Ravenna Elementary School (math 72% / reading 57%, grade B, #78 of 502 statewide, top 18%, 244 students, 45% FRL); Ravenna Senior High (math 57% / reading 57%, grade C, #70 of 261 statewide, top 30%, 169 students, 43% FRL) — zoned schools average 44% FRL vs 27% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 1 active listings in the ZIP; 125 units permitted in Buffalo County in 2024 (0 in 5+ unit buildings).
• Buffalo County population projected at +31% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 9y 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 $118k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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 36 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — Exposed roof structure, missing shingles
• Major: exterior siding — Weathered siding
• Major: steps and handrails — Damaged
• Major: landscaping — Overgrown vegetation