108 E 12th St · Hastings, NE 68901

$210,000

3 bd · 2.0 ba · 1,057 sqft · SingleFamily public records · 92 Days on market

Built 1945 0.96 ac lot $199/sqft · 117% above area Est $194k · 8% over

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Why this score? — see what drove the F 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 +11.0/30.0
• Livability +4.0/5.0
• ARV discount +3.7/15.0
• Schools +3.4/10.0
• DSCR +3.2/10.0
• 1% rule +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming and cozy 2-bedroom, 2-bath home located in Hastings! This well-maintained 1-story property offers 1,057 sq ft of comfortable living space with a full basement for additional storage or future finishing potential. Enjoy the warmth of a masonry fireplace with gas insert, and functional layout perfect for everyday living. A great opportunity for first-time buyers, downsizers, or investors looking for a solid property with character and potential!

Key facts

• Masonry fireplace
• Full basement
• 0.96 acre lot

Tags

• MASONRY FIREPLACE
• FULL BASEMENT
• COMFORTABLE LIVING SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $-88 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $194k (7.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $168k (20.2% below list).
• Recommended offer: $168k (20.2% below list) — sets the bar for 1% rule.
• Cap rate 5.8% 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; 11 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 92 days — a 9% lower offer ($191k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago 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 $160k; 31% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $167,672 (20.2% below list)

Questions for the listing agent

1. 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?
2. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
3. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 0.80% ✗
• Cap rate: 5.79%
• Cash-on-cash: -1.80%
• DSCR: 0.92
• GRM: 10.4

CMA / ARV

• ARV (median comp): $193,729
• List price: $210,000
• Delta: 8.40%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1302 Mcdonald Ave	0.17mi	3/2.0	1,080 (+2%)	4mo	$158,000	$146	85
142 E 4th St	0.69mi	4/1.0 (+1)	1,049 (-1%)	10mo	$155,000	$148	49
407 E 4th St	0.72mi	2/2.0 (-1)	1,134 (+7%)	3mo	$110,111	$97	46
217 W 4th St	0.72mi	3/2.0	919 (-13%)	3mo	$150,000	$163	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: -19.3%
• Equity multiple: 0.33×
• Total profit: $-39,636
• Equity at exit: $31,312

10-year hold

• IRR: -11.9%
• Equity multiple: 0.29×
• Total profit: $-41,730
• Equity at exit: $18,157

Cash invested: $58,800 (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: 10.4×

Monthly cashflow live

• Estimated rent: $1,677 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$224 /mo · $2,687/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $-88

Break-even live

Break-even rent $1,788

Max offer price $194,444

Occupancy floor —

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2404 Hudson Way Apt 106 Hastings, NE	2.0	2.0	1053	$1,750	$1.66	43d	1	0.99mi
2404 Hudson Way Apt 302 Hastings, NE	2.0	2.0	973	$1,625	$1.67	43d	1	0.99mi
2314 Hudson WAY Hastings, NE	1.0–2.0	1.0–2.0	855	$1,850	$2.16	43d	71	1.02mi
2524 Hudson Way Apt 301 Hastings, NE	2.0	2.0	1053	$1,750	$1.66	43d	1	1.05mi
2524 Hudson Way Apt 205 Hastings, NE	2.0	2.0	1051	$1,695	$1.61	43d	1	1.05mi
2524 Hudson Way Apt 307 Hastings, NE	2.0	2.0	973	$1,625	$1.67	43d	1	1.05mi
2524 Hudson Way Apt 202 Hastings, NE	2.0	1.0	903	$1,525	$1.69	43d	1	1.05mi
2512 Hudson Way Unit 208 Hastings, NE	2.0	2.0	1053	$1,750	$1.66	43d	1	1.06mi
2512 Hudson Way Apt 308 Hastings, NE	2.0	2.0	1053	$1,695	$1.61	43d	1	1.06mi
2512 Hudson Way Apt 202 Hastings, NE	2.0	2.0	973	$1,625	$1.67	43d	1	1.06mi
2512 Hudson Way Apt 307 Hastings, NE	2.0	1.0	903	$1,525	$1.69	43d	1	1.06mi

Listing history 5 events

1. 2026-05-20
   status Pending 456-char remark

   Show marketing remark (456 chars)

   Charming and cozy 2-bedroom, 2-bath home located in Hastings! This well-maintained 1-story property offers 1,057 sq ft of comfortable living space with a full basement for additional storage or future finishing potential. Enjoy the warmth of a masonry fireplace with gas insert, and functional layout perfect for everyday living. A great opportunity for first-time buyers, downsizers, or investors looking for a solid property with character and potential!

2. 2026-02-16
   listed $210,000 Active 456-char remark

   Show marketing remark (456 chars)

   Charming and cozy 2-bedroom, 2-bath home located in Hastings! This well-maintained 1-story property offers 1,057 sq ft of comfortable living space with a full basement for additional storage or future finishing potential. Enjoy the warmth of a masonry fireplace with gas insert, and functional layout perfect for everyday living. A great opportunity for first-time buyers, downsizers, or investors looking for a solid property with character and potential!

3. 2023-12-15
   soldstatus $160,000 Closed 313-char remark

   Show marketing remark (313 chars)

   Nice ranch style home with a single attached garage. 2 main floor bedrooms, nice sized living room with gas fireplace, , dining room, finished basement family room with electric fireplace, 2 non conforming basement bedrooms, new windows, new roof and new siding, privacy fenced back yard and a covered back patio.

4. 2023-12-04
   status Pending 313-char remark

   Show marketing remark (313 chars)

   Nice ranch style home with a single attached garage. 2 main floor bedrooms, nice sized living room with gas fireplace, , dining room, finished basement family room with electric fireplace, 2 non conforming basement bedrooms, new windows, new roof and new siding, privacy fenced back yard and a covered back patio.

5. 2023-11-14
   listed $169,950 Active 313-char remark

   Show marketing remark (313 chars)

   Nice ranch style home with a single attached garage. 2 main floor bedrooms, nice sized living room with gas fireplace, , dining room, finished basement family room with electric fireplace, 2 non conforming basement bedrooms, new windows, new roof and new siding, privacy fenced back yard and a covered back patio.

ⓘ 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: $2,687 · $224/mo
• Projected year-2 tax: $3,633 · $303/mo
• Expected delta: +$946/yr (+$79/mo · 35.2%)

ⓘ 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: $20,121
• − Mortgage interest: −$11,763
• − Property taxes: −$2,687
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,610
• − Management: −$1,610
• − Depreciation: −$6,109
• Taxable loss: −$4,708
• Est. tax savings @ 24.0%: +$1,130
• After-tax cash flow: $73/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

+23.6% since first listed

5 events — show timeline

• 2026-05-20 Pending — GIBOR
• 2026-02-16 Listed $210,000 GIBOR
• 2023-12-15 Sold (MLS) $160,000 GMNMLS
• 2023-12-04 Pending — GMNMLS
• 2023-11-14 Listed $169,950 GMNMLS

Property tax history

+3.8%/yr

Latest (2025): $2,687 · +7.6% YoY. Source: county tax records.