139 1st Ave

Bayard, NE 69334

$89,000C+

3 bd · 2.0 ba · 1,216 sqft · Built 2001 · Manufactured · Pending · 147 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,020/mo
• Mortgage (P&I): −$467
• Tax + insurance: −$148
• HOA: −$0
• Vac / Maint / Mgmt: −$214
• Net cashflow: $191/mo
• Annual: $2,292/yr
• Cap rate: 8.87%
• Cash-on-cash: 9.20%
• DSCR: 1.41
• 1% rule: 1.15%
• Cash to close: $24,920

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $89k. Condition is rated poor.
• At list price, monthly cash flow is $191 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• It's been on market 147 days — a 12% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $78k (12.0% below list) — sets the bar for market timing.
• In year one you build about $731 of equity ($615 loan paydown + $116 appreciation (0.1% local appreciation)).
• Location reads 73/100 on livability (#140 in NE) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, schools D-, amenities F.
• Bayard Public Schools (rural): math 35% / reading 30% proficiency, ranked #231 of 245 in NE (top 94%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 7 active listings in the ZIP.
• Morrill County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 4 sale attempts since 4y ago; this cycle's ask has dropped $11k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $40k; list at $89k implies a 123% gain — meaningful room to come down on a strong offer.
• At projected returns (0.1% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~7 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 147 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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.

Repairs flagged (vision-AI assessment)

• Major: siding and paint — Severe weathering and peeling
• Major: roof — No visible damage, but siding suggests potential water damage
• Major: flooring — No visible flooring, but the exterior suggests potential water damage