23210 Agee Cir

Waterloo, NE 68069

$299,000C-

3 bd · 2.5 ba · 1,736 sqft · Built 2020 · Other · Active · 50 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,650/mo
• Mortgage (P&I): −$1,568
• Tax + insurance: −$427
• HOA: −$0
• Vac / Maint / Mgmt: −$556
• Net cashflow: $99/mo
• Annual: $1,187/yr
• Cap rate: 6.69%
• Cash-on-cash: 1.42%
• DSCR: 1.06
• 1% rule: 0.89%
• Cash to close: $83,720

Investor read

• This is a 3-bed/2.5-bath other listed at $299k.
• At list price, monthly cash flow is $99 ($1k/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 $265k (11.4% below list).
• It's been on market 50 days — a 3% lower offer ($290k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $265k (11.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#141 in NE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Douglas County West Community Schools (rural): math 49% / reading 45% proficiency, ranked #69 of 111 in NE (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Douglas Co West Elementary Sch (math 47% / reading 47%, grade D-, #266 of 502 statewide, top 56%, 513 students, 30% FRL); Douglas Co West Middle School (math 51% / reading 45%, grade C-, #58 of 128 statewide, top 45%, 240 students, 30% FRL); Douglas Co West High School (math 42% / reading 37%, grade F, #184 of 261 statewide, top 76%, 300 students, 24% FRL) — zoned schools at 28% FRL track the district average.
• Market conditions: 34 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 4,539 units permitted in Douglas County in 2024 (2,583 in 5+ unit buildings).
• Douglas County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 6 sale attempts since 16y ago; this cycle's ask has dropped $31k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $260k; 15% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Questions for listing agent

• It's been on market 50 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.
• 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.