266 G St

Platte Center, NE 68653

$179,000D

3 bd · 1.0 ba · 1,288 sqft · Built 1900 · SingleFamily · Active · 38 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,216/mo
• Mortgage (P&I): −$939
• Tax + insurance: −$165
• HOA: −$0
• Vac / Maint / Mgmt: −$255
• Net cashflow: $-142/mo
• Annual: $-1,707/yr
• Cap rate: 5.34%
• Cash-on-cash: -3.41%
• DSCR: 0.85
• 1% rule: 0.68%
• Cash to close: $50,120

Investor read

• This is a 3-bed/1.0-bath single-family listed at $179k.
• At list price, monthly cash flow is $-142 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $154k (14.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $122k (32.0% below list).
• It's been on market 38 days — a 3% lower offer ($174k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $122k (32.0% below list) — sets the bar for 1% rule.
• In year one you build about $9k of equity ($1k loan paydown + $7k appreciation (4.2% local appreciation)).
• Location reads 68/100 on livability (#255 in NE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Lakeview Community Schools (rural): math 54% / reading 51% proficiency, ranked #49 of 111 in NE (top 44%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Shell Creek Elementary School (math 52% / reading 52%, grade C-, #200 of 502 statewide, top 46%, 338 students, 32% FRL); Lakeview Junior High School (math 52% / reading 52%, grade C+, #43 of 128 statewide, top 36%, 147 students, 42% FRL); Lakeview High School (math 57% / reading 52%, grade C-, #80 of 261 statewide, top 37%, 311 students, 36% FRL) — zoned schools at 36% FRL track the district average.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 6 active listings in the ZIP; 98 units permitted in Platte County in 2024 (17 in 5+ unit buildings).
• Platte County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 3 sale attempts since 11y 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 $52k; list at $179k implies a 241% gain — meaningful room to come down on a strong offer.
• By year 5, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• 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?
• It's been on market 38 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.