410 S Howard St

Kimball, NE 69145

$123,500C

3 bd · 2.0 ba · 1,650 sqft · Built 1917 · SingleFamily · Pending · 98 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,177/mo
• Mortgage (P&I): −$648
• Tax + insurance: −$176
• HOA: −$0
• Vac / Maint / Mgmt: −$247
• Net cashflow: $107/mo
• Annual: $1,280/yr
• Cap rate: 7.33%
• Cash-on-cash: 3.70%
• DSCR: 1.16
• 1% rule: 0.95%
• Cash to close: $34,580

Investor read

• This is a 3-bed/2.0-bath single-family listed at $124k.
• At list price, monthly cash flow is $107 ($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 $118k (4.7% below list).
• It's been on market 98 days — a 9% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $112k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $854 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#120 in NE, #4,631 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Kimball Public Schools (rural): math 39% / reading 43% proficiency, ranked #205 of 245 in NE (top 84%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mary Lynch Elementary (math 32% / reading 42%, grade F, #373 of 502 statewide, top 77%, 227 students, 53% FRL); Kimball Jr/Sr High School (math 17% / reading 27%, grade F, #248 of 261 statewide, top 95%, 167 students, 45% FRL).
• Watch-outs: built in 1917 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 35 active listings in the ZIP; 12 units permitted in Kimball County in 2024 (0 in 5+ unit buildings).
• Kimball County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 4 sale attempts 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 $62k; list at $124k implies a 98% gain — meaningful room to come down on a strong offer.

Questions for listing agent

• It's been on market 98 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1917 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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.