603 S Colfax St · West Point, NE 68788

$115,000

2 bd · 1.0 ba · 1,080 sqft · SingleFamily public records · 2 Days on market

Built 1935 5,663 sqft lot Est $159k · 28% under

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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).

• ARV discount +15.0/15.0
• Cash flow +14.2/30.0
• Schools +4.5/10.0
• DSCR +4.3/10.0
• Livability +3.9/5.0
• 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

Property sold as is—this charming 2 bedroom, 1 bathroom home is full of character and opportunity! Enjoy relaxing mornings or evenings on the large front porch, plus the added bonus of enclosed front and rear porch spaces for extra flexibility. Inside, the kitchen offers great storage and functional workspace, while the main-level laundry adds everyday convenience. A full walkout basement provides plenty of room for storage, hobbies, or future possibilities, with laundry hookups also available downstairs. Located in a convenient area, this home is ready for its next owner to make it their own. Agent is related to seller.

Key facts

• Large front porch
• Enclosed rear porch
• Main-level laundry

Tags

• LARGE FRONT PORCH
• ENCLOSED FRONT PORCH
• ENCLOSED REAR PORCH
• MAIN-LEVEL LAUNDRY
• FULL WALKOUT BASEMENT
• LAUNDRY HOOKUPS

Property features AI

Exterior

• Parking: Detached garage with one covered space (1 total)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One-and-a-half story; Built in 1935; Not new / not a model
• Construction: Block foundation
• Exterior features: Front porch; Deck; Lot approximately 0.13 acre (about 44 x 130)

Interior

• Bedrooms: Main floor primary bedroom; Additional bedroom(s) on the main floor
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Full walk-out basement; No fireplaces

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $19 ($223/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 $92k (19.7% below list).
• Recommended offer: $92k (19.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 77/100 on livability (#73 in NE, #3,129 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• West Point Public Schools (town): math 53% / reading 54% proficiency, ranked #51 of 111 in NE (top 46%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: West Point Elementary School (math 57% / reading 77%, grade B+, #64 of 502 statewide, top 14%, 294 students, 57% FRL); West Point - Beemer Middle School (math 52% / reading 47%, grade C, #51 of 128 statewide, top 43%, 187 students, 61% FRL); West Point-Beemer High School (math 47% / reading 42%, grade F, #146 of 261 statewide, top 67%, 247 students, 52% FRL) — zoned schools average 57% FRL vs 41% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 17 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 13 units permitted in Cuming County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Cuming County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $65k; list at $115k implies a 77% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $92,367 (19.7% below list)

Questions for the listing agent

1. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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?
5. 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.
6. 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.
7. 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: 6.49%
• Cash-on-cash: 0.69%
• DSCR: 1.03
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $158,760
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
603 S Colfax St	0.00mi	2/1.0	1,080 (0%)	1mo	$116,000	$107	99
817 S Kindschuh St	0.17mi	2/1.0	1,090 (+1%)	4mo	$192,500	$177	88
344 N Main St	0.56mi	2/1.0	1,088 (+1%)	12mo	$130,000	$119	62
771 E Willow St	0.38mi	3/1.5 (+1)	1,128 (+4%)	7mo	$166,000	$147	62

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: -15.2%
• Equity multiple: 0.46×
• Total profit: $-17,487
• Equity at exit: $17,147

10-year hold

• IRR: -6.7%
• Equity multiple: 0.57×
• Total profit: $-13,852
• Equity at exit: $9,943

Cash invested: $32,200 (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 68788

• Home prices YoY: -8.9%
• Active inventory: 17
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $924 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$60 /mo · $721/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$194
• Net cashflow: $19

Break-even live

Break-even rent $900

Max offer price $115,000

Occupancy floor 93%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
960 Prospect Rd Unit 117A West Point, NE	2.0	1.0	860	$915	$1.06	43d	1	0.68mi
724 N Mill St West Point, NE	2.0	1.0	755	$935	$1.24	43d	1	0.78mi

Listing history 3 events

1. 2026-04-30
   status Pending
2. 2026-04-28
   listed $115,000 New
3. 2013-08-06
   soldstatus $65,000

ⓘ 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: $721 · $60/mo
• Projected year-2 tax: $1,990 · $166/mo
• Expected delta: +$1,268/yr (+$106/mo · 175.9%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 15 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: $11,084
• − Mortgage interest: −$6,442
• − Property taxes: −$721
• − Insurance: −$575
• − Repairs & maintenance: −$887
• − Management: −$887
• − Depreciation: −$3,345
• Taxable loss: −$1,773
• Est. tax savings @ 24.0%: +$425
• After-tax cash flow: $649/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: West Point Public Schools
• NCES district ID: 3100006
• Math proficiency: 53% ▲ 3.00%
• Reading proficiency: 54% ▲ 2.00%
• Median HH income: $47,420
• Composite: 45.44/100
• National rank: #2618
• State rank: #51 of 111 in NE

Livability — West Point

• Score: 77/100
• State rank: #73
• US rank: #3129

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Point, NE
• Population (ZIP): 4,531

Population outlook (Cuming County) Hauer SSP2

• Today (2025): 9,300 people
• By 2030: 9,384 · +0.9%
• By 2040: 9,575 · +3.0%
• By 2050: 9,783 · +5.2%
• By 2075: 10,835 · +16.5%
• By 2100: 11,285 · +21.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 21% Two or more races 11% Native American 2%
• Hispanic origin (detail): Mexican 19%
• Common ancestry: Scotch-Irish 1% Iranian 1% Portuguese 1%
• Foreign-born: 11% · Canada
• Languages at home: 83% English-only · Spanish 17%

Political lean MEDSL · Cuming

• 2024 margin: Solid R (+60.0) · D 19.5% · R 79.5%
• 2008→2024 swing: -24.4pp toward R · 2008: -35.7pp · 2024: -60.0pp
• All cycles: 2024: R+60.0 2020: R+59.1 2016: R+59.8 2012: R+46.9 2008: R+35.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -24.78%
• Current HPI: 253.3228
• 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

+76.9% since first listed

3 events — show timeline

• 2026-04-30 Pending — GPRMLS
• 2026-04-28 Listed $115,000 GPRMLS
• 2013-08-06 Sold (Public Records) $65,000 Public Records

Property tax history

-2.0%/yr

Latest (2017): $721 · +2.3% YoY. Source: county tax records.