703 S Colfax St · West Point, NE 68788

$145,000

3 bd · 2.0 ba · 1,765 sqft · SingleFamily public records · 40 Days on market

Built 1900 5,005 sqft lot $82/sqft · 24% below area Est $193k · 25% under

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Why this score? — see what drove the C 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 +19.6/30.0
• ARV discount +15.0/15.0
• DSCR +6.2/10.0
• Schools +4.5/10.0
• 1% rule +4.2/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This cozy 3-bedroom, 2-bathroom home is perfect for anyone looking for a move-in ready house without the "big ticket" worries. You'll have total peace of mind knowing the roof, central air, and water heater have all been replaced within the last 5 years. The home features a nice, partially finished basement that gives you extra room to spread out, plus a handy laundry area on the lower level. Outside, you'll find a spacious two-car detached garage with plenty of room for vehicles and storage. It's a solid, well-cared-for home that's ready for its next owner to just move in and enjoy!

Key facts

• Laundry area
• Replaced central air
• Replaced roof

Tags

• PARTIALLY FINISHED BASEMENT
• LAUNDRY AREA
• TWO-CAR DETACHED GARAGE
• REPLACED ROOF
• REPLACED CENTRAL AIR
• REPLACED WATER HEATER

Property features AI

Finance

• HOA & community: Property listed within a senior community

Exterior

• Parking: Detached garage with garage door opener (1 covered space, 1 total parking space)
• Utilities: Public water; Electricity available
• Home design: Single-family residence; One and one-half story; Built in 1900; Not new / not a model
• Construction: Wood shingle roof; Brick/mortar foundation
• Exterior features: Partial fencing; Corner lot; Lot approx. 0.11 acre (55 x 91)

Interior

• Kitchen: Porcelain tile flooring in kitchen; Range; Refrigerator; Pantry
• Bedrooms: Master bedroom on main floor with wall-to-wall carpeting; Second bedroom on main floor with wall-to-wall carpeting; Third bedroom on second floor with wall-to-wall carpeting
• Flooring: Porcelain tile in living, kitchen, and dining areas; Wall-to-wall carpeting in bedrooms
• Bathrooms: Two bathrooms total — one full bath and one three-quarter bath; Main level bathroom(s) present; Below-grade bathroom present
• Heating & cooling: Electric forced-air heating; Central air conditioning
• Interior features: Ceiling fans; Pantry; Electric fireplace; Sump pump; Partially finished basement (approx. 212 finished sq ft)
• Laundry & utility: Washer; Dryer; Sump pump

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $166 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $133k (8.1% below list).
• Recommended offer: $133k (8.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 77/100 on livability (#73 in NE, #3,129 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• West Point Public Schools (town): math 53% / reading 54% proficiency, ranked #51 of 111 in NE (top 46%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: West Point Elementary School (math 57% / reading 77%, grade B+, #64 of 502 statewide, top 14%, 294 students, 57% FRL); West Point - Beemer Middle School (math 52% / reading 47%, grade C, #51 of 128 statewide, top 43%, 187 students, 61% FRL); West Point-Beemer High School (math 47% / reading 42%, grade F, #146 of 261 statewide, top 67%, 247 students, 52% FRL) — zoned schools average 57% FRL vs 41% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 17 active listings in the ZIP; 13 units permitted in Cuming County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Cuming County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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 $16k; list at $145k implies a 806% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $133,235 (8.1% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.92% ✗
• Cap rate: 7.67%
• Cash-on-cash: 4.90%
• DSCR: 1.22
• GRM: 9.1

CMA / ARV

• ARV (median comp): $193,245
• List price: $145,000
• Delta: -24.97%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
820 Sherman St	0.44mi	3/2.0	1,715 (-3%)	1mo	$235,000	$137	74
640 E David St	0.27mi	4/2.0 (+1)	1,656 (-6%)	12mo	$188,000	$114	62
466 S Colfax St	0.15mi	3/2.0	1,973 (+12%)	18mo	$225,000	$114	58
110 W Washington St	0.70mi	3/2.0	1,998 (+13%)	10mo	$185,000	$93	37
838 W Grant St	0.68mi	3/2.5	2,009 (+14%)	11mo	$375,000	$187	34

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: -8.7%
• Equity multiple: 0.68×
• Total profit: $-12,978
• Equity at exit: $21,620

10-year hold

• IRR: 0.7%
• Equity multiple: 1.05×
• Total profit: $2,102
• Equity at exit: $12,537

Cash invested: $40,600 (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 68788

• Home prices YoY: -8.9%
• Active inventory: 17
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,332 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$66 /mo · $790/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$280
• Net cashflow: $166

Break-even live

Break-even rent $1,122

Max offer price $145,000

Occupancy floor 83%

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $145,000 Active 40 DOM
2. 2026-06-17
   days on market $145,000 Active 39 DOM
3. 2026-06-16
   days on market $145,000 Active 38 DOM
4. 2026-06-15
   days on market $145,000 Active 37 DOM
5. 2026-06-13
   days on market $145,000 Active 35 DOM
6. 2026-06-12
   days on market $145,000 Active 34 DOM
7. 2026-06-09
   days on market $145,000 Active 31 DOM
8. 2026-06-08
   days on market $145,000 Active 30 DOM
9. 2026-06-07
   days on market $145,000 Active 29 DOM
10. 2026-06-05
    days on market $145,000 Active 27 DOM
11. 2026-06-04
    days on market $145,000 Active 25 DOM
12. 2026-06-02
    days on market $145,000 Active 24 DOM
13. 2026-06-01
    days on market $145,000 Active 23 DOM
14. 2026-05-31
    days on market $145,000 Active 22 DOM
15. 2026-05-07
    listed $145,000 New 600-char remark
16. 2024-08-20
    historical
17. 2024-04-16
    price $145,000
18. 2024-02-19
    listed $152,000 New
19. 2008-06-06
    soldstatus $16,000

ⓘ 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: $790 · $66/mo
• Projected year-2 tax: $2,508 · $209/mo
• Expected delta: +$1,719/yr (+$143/mo · 217.7%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 15 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: $15,988
• − Mortgage interest: −$8,122
• − Property taxes: −$790
• − Insurance: −$725
• − Repairs & maintenance: −$1,279
• − Management: −$1,279
• − Depreciation: −$4,218
• Taxable loss: −$425
• Est. tax savings @ 24.0%: +$102
• After-tax cash flow: $2,093/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: West Point Public Schools
• NCES district ID: 3100006
• Math proficiency: 53% ▲ 3.00%
• Reading proficiency: 54% ▲ 2.00%
• Median HH income: $47,420
• Composite: 45.44/100
• National rank: #2618
• State rank: #51 of 111 in NE

Livability — West Point

• Score: 77/100
• State rank: #73
• US rank: #3129

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Point, NE
• Population (ZIP): 4,531

Population outlook (Cuming County) Hauer SSP2

• Today (2025): 9,300 people
• By 2030: 9,384 · +0.9%
• By 2040: 9,575 · +3.0%
• By 2050: 9,783 · +5.2%
• By 2075: 10,835 · +16.5%
• By 2100: 11,285 · +21.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 21% Two or more races 11% Native American 2%
• Hispanic origin (detail): Mexican 19%
• Common ancestry: Scotch-Irish 1% Iranian 1% Portuguese 1%
• Foreign-born: 11% · Canada
• Languages at home: 83% English-only · Spanish 17%

Political lean MEDSL · Cuming

• 2024 margin: Solid R (+60.0) · D 19.5% · R 79.5%
• 2008→2024 swing: -24.4pp toward R · 2008: -35.7pp · 2024: -60.0pp
• All cycles: 2024: R+60.0 2020: R+59.1 2016: R+59.8 2012: R+46.9 2008: R+35.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -24.78%
• Current HPI: 253.3228
• 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

+806.2% since first listed

5 events — show timeline

• 2026-05-07 Listed $145,000 GPRMLS
• 2024-08-20 Listing Removed — GPRMLS
• 2024-04-16 Price Changed $145,000 GPRMLS
• 2024-02-19 Listed $152,000 GPRMLS
• 2008-06-06 Sold (Public Records) $16,000 Public Records

Property tax history

+4.3%/yr

Latest (2025): $790 · -11.2% YoY. Source: county tax records.