747 E 2nd St · Hastings, NE 68901

$195,500

3 bd · 1.0 ba · 1,508 sqft · SingleFamily public records · 226 Days on market

Built 1905 Est $184k · 6% over ↓ 14% since listing

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Why this score? — see what drove the D- 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 +13.6/30.0
• ARV discount +4.7/15.0
• DSCR +4.1/10.0
• Livability +4.0/5.0
• Schools +3.4/10.0
• 1% rule +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

One of a kind 1 1/2 story home with 3 BR and 1 bath on a full newer basement with egress window and with some great history. It has unique woodwork and trim, original wood floors, alley access with extra parking spaces in front and back. Newer roof, siding, gutters and vinyl siding and a full unfinished basement (plumbing is there for an additional bathroom). Replaced front porch steps and new back steps. Good landscaping with a storage shed. This house was moved onto a new poured foundation 17 years ago. One owner since the move. Office area by stairway with bay window. Lots of cute features.

Key facts

• Alley access
• Full newer basement
• Unique woodwork

Tags

• FULL NEWER BASEMENT
• EGRESS WINDOW
• UNIQUE WOODWORK
• ORIGINAL WOOD FLOORS
• ALLEY ACCESS
• EXTRA PARKING SPACES

Property features AI

Exterior

• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Natural gas available
• Home design: Single-family residential; Frame construction; Zoning: R1
• Construction: Frame construction
• Exterior features: Shed(s)

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Oven; Refrigerator
• Bathrooms: One main-level bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Walk-in closet(s); Eat-in kitchen; Pantry; Window coverings; Electric water heater
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $196k.

Deal economics

• At list price, monthly cash flow is $12 ($147/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 $161k (17.9% below list).
• Recommended offer: $161k (17.9% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 4.4% in Hastings — 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.

Location & tenants

• Location reads 79/100 on livability (#41 in NE, #2,188 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, amenities D-, commute F.
• Hastings Public Schools (town): math 38% / reading 42% proficiency, ranked #96 of 111 in NE (top 86%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 191 active listings in the ZIP; 217 units permitted in Adams County in 2024 (132 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 $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 226 days — a 12% lower offer ($172k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $160,543 (17.9% below list)

Questions for the listing agent

1. It's been on market 226 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
2. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.82% ✗
• Cap rate: 6.37%
• Cash-on-cash: 0.27%
• DSCR: 1.01
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $183,976
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
907 E 3rd St	0.11mi	3/2.0	1,515 (+0%)	6mo	$220,000	$145	85
722 E 4th St	0.10mi	2/1.5 (-1)	1,450 (-4%)	9mo	$154,500	$107	74
724 E 5th St	0.14mi	2/1.0 (-1)	1,636 (+8%)	1mo	$153,500	$94	74
720 E 5th St	0.15mi	2/1.0 (-1)	1,636 (+8%)	5mo	$83,000	$51	70
743 E 4th St	0.11mi	3/2.0	1,666 (+10%)	6mo	$172,000	$103	68
1101 E 5th St	0.27mi	3/2.0	1,472 (-2%)	16mo	$247,000	$168	66
1007 University Ave	0.47mi	2/2.0 (-1)	1,440 (-4%)	2mo	$180,000	$125	60
421 E 4th St	0.28mi	3/1.0	1,330 (-12%)	9mo	$162,500	$122	60
1227 E 5th St	0.37mi	3/2.0	1,392 (-8%)	8mo	$238,000	$171	59
1210 University St	0.50mi	3/2.0	1,330 (-12%)	1mo	$194,000	$146	52
522 University St	0.44mi	2/2.0 (-1)	1,604 (+6%)	10mo	$143,500	$89	52
102 E 4th St	0.56mi	3/1.0	1,311 (-13%)	12mo	$85,000	$65	42

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: -15.9%
• Equity multiple: 0.43×
• Total profit: $-30,933
• Equity at exit: $29,150

10-year hold

• IRR: -7.5%
• Equity multiple: 0.52×
• Total profit: $-26,070
• Equity at exit: $16,903

Cash invested: $54,740 (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 68901

• Active inventory: 191
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,605 medium
• Mortgage (P&I): −$1,025
• Tax from tax record: −$149 /mo · $1,792/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$337
• Net cashflow: $12

Break-even live

Break-even rent $1,590

Max offer price $195,500

Occupancy floor 94%

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: $48,875
• Closing costs: $5,865
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-04-28
   status Pending
2. 2026-03-30
   price $195,500
3. 2026-03-11
   price $199,500
4. 2026-02-03
   price $209,000
5. 2025-12-11
   price $214,900
6. 2025-11-19
   price $217,900
7. 2025-11-04
   price $220,000
8. 2025-10-13
   price $223,500
9. 2025-09-06
   listed $228,000 Active

ⓘ 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: $1,792 · $149/mo
• Projected year-2 tax: $3,382 · $282/mo
• Expected delta: +$1,590/yr (+$132/mo · 88.7%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 17 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: $19,265
• − Mortgage interest: −$10,951
• − Property taxes: −$1,792
• − Insurance: −$978
• − Repairs & maintenance: −$1,541
• − Management: −$1,541
• − Depreciation: −$5,687
• Taxable loss: −$3,225
• Est. tax savings @ 24.0%: +$774
• After-tax cash flow: $921/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: Hastings Public Schools
• NCES district ID: 3171580
• Math proficiency: 38% ▼ -8.00%
• Reading proficiency: 42% ▼ -4.00%
• Median HH income: $42,942
• Composite: 33.81/100
• National rank: #5363
• State rank: #96 of 111 in NE

Livability — Hastings

• Score: 79/100
• State rank: #41
• US rank: #2188

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hastings, NE
• City population: 26,208
• Population (ZIP): 26,208

Population outlook (Adams County) Hauer SSP2

• Today (2025): 31,965 people
• By 2030: 32,079 · +0.4%
• By 2040: 31,999 · +0.1%
• By 2050: 31,586 · -1.2%
• By 2075: 30,856 · -3.5%
• By 2100: 29,948 · -6.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 14% Two or more races 8% Black 1% Asian 1%
• Hispanic origin (detail): Mexican 9% Cuban 1%
• Common ancestry: Lithuanian 2% Romanian 2% Italian 2%
• Foreign-born: 7% · Canada, Vietnam
• Languages at home: 89% English-only · Spanish 9% Vietnamese 1%

Political lean MEDSL · Adams

• 2024 margin: Solid R (+41.6) · D 28.5% · R 70.2% · Other 1.3%
• 2008→2024 swing: -14.6pp toward R · 2008: -27.0pp · 2024: -41.6pp
• All cycles: 2024: R+41.6 2020: R+40.1 2016: R+45.0 2012: R+34.1 2008: R+27.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -255.77%
• Current HPI: 232.0444
• 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

-14.3% since first listed

9 events — show timeline

• 2026-04-28 Pending — GMNMLS
• 2026-03-30 Price Changed $195,500 GMNMLS
• 2026-03-11 Price Changed $199,500 GMNMLS
• 2026-02-03 Price Changed $209,000 GMNMLS
• 2025-12-11 Price Changed $214,900 GMNMLS
• 2025-11-19 Price Changed $217,900 GMNMLS
• 2025-11-04 Price Changed $220,000 GMNMLS
• 2025-10-13 Price Changed $223,500 GMNMLS
• 2025-09-06 Listed $228,000 GMNMLS

Property tax history

-0.8%/yr

Latest (2025): $1,792 · +6.6% YoY. Source: county tax records.