207 State St

Brule, NE 69127

$57,500B+

1 bd · 1.0 ba · 704 sqft · Built 1918 · SingleFamily · Active · 23 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,597/mo
• Mortgage (P&I): −$302
• Tax + insurance: −$62
• HOA: −$0
• Vac / Maint / Mgmt: −$335
• Net cashflow: $899/mo
• Annual: $10,786/yr
• Cap rate: 25.05%
• Cash-on-cash: 67.00%
• DSCR: 3.98
• 1% rule: 2.78%
• Cash to close: $16,100

Investor read

• This is a 1-bed/1.0-bath single-family listed at $58k.
• At list price, monthly cash flow is $899 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $58k).
• It's been on market 23 days — a 2% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $57k (1.5% below list) — sets the bar for market timing.
• In year one you build about $6k of equity ($398 loan paydown + $6k appreciation (10.0% local appreciation)).
• Location reads 62/100 on livability (#429 in NE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, health & safety C-, schools F.
• South Platte Public Schools (rural): math 35% / reading 35% proficiency, ranked #229 of 245 in NE (top 94%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1918 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 5 active listings in the ZIP; 38 units permitted in Keith County in 2024 (0 in 5+ unit buildings).
• Keith County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Built in 1918 — 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.
• Schools are F-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.