2216 E 8th St

Fremont, NE 68025

$215,000D

3 bd · 3.0 ba · 2,191 sqft · Built 1966 · SingleFamily · Pending · 12 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,561/mo
• Mortgage (P&I): −$1,127
• Tax + insurance: −$218
• HOA: −$0
• Vac / Maint / Mgmt: −$328
• Net cashflow: $-112/mo
• Annual: $-1,345/yr
• Cap rate: 5.67%
• Cash-on-cash: -2.23%
• DSCR: 0.90
• 1% rule: 0.73%
• Cash to close: $60,200

Investor read

• This is a 3-bed/3.0-bath single-family listed at $215k.
• At list price, monthly cash flow is $-112 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $195k (9.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $156k (27.4% below list).
• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $156k (27.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#92 in NE, #3,751 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, commute F.
• Fremont Public Schools (town): math 34% / reading 36% proficiency, ranked #103 of 111 in NE (top 93%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Howard Elementary School (math 37% / reading 47%, grade F, #319 of 502 statewide, top 68%, 348 students, 0% FRL); Fremont Middle School (math 38% / reading 40%, grade F, #95 of 128 statewide, top 76%, 744 students, 66% FRL); Fremont Senior High School (math 42% / reading 48%, grade D-, #145 of 261 statewide, top 55%, 1,633 students, 55% FRL).
• Market conditions: Rents soft (-2.1%/yr); 244 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 82 units permitted in Dodge County in 2024 (0 in 5+ unit buildings).
• Cap rate 5.7% vs local median 3.3% in Fremont — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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?
• Built in 1966 — 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.
• 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.