305 10th St · Norfolk, NE 68701

$133,000

2 bd · 3.0 ba · 1,738 sqft · SingleFamily public records · 28 Days on market

Built 1910 Est $216k · 38% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• Livability +3.9/5.0
• Schools +3.8/10.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

3 bedroom 2 bath , updated windows, siding and AC unit. great investment property

Key facts

• Garage
• Built 1910
• Listed 27 days

Property features AI

Exterior

• Parking: 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Frame construction with vinyl siding
• Exterior features: Wood fencing; Asphalt roof

Interior

• Bedrooms: 2 main-level bedrooms
• Bathrooms: 1 main-level bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Electric water heater; Partial basement
• Laundry & utility: Laundry located in basement

What this means for you Summary

Snapshot

• This is a 2-bed/3.0-bath single-family listed at $133k.

Deal economics

• At list price, monthly cash flow is $669 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $133k).
• Recommended offer: $131k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.3% vs local median 3.2% in Norfolk — 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 78/100 on livability (#54 in NE, #2,611 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities F, commute F.
• Norfolk Public Schools (town): math 44% / reading 46% proficiency, ranked #84 of 111 in NE (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.3%/yr); 230 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 270 units permitted in Madison County in 2024 (196 in 5+ unit buildings).
• This rent runs 37% of the median local income ($63k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $920 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.3% rent growth), your $37k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $80k; list at $133k implies a 66% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $131,005 (1.5% below list)

Questions for the listing agent

1. Built in 1910 — 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. 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.
5. 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.
6. 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: 1.45% ✓
• Cap rate: 12.33%
• Cash-on-cash: 21.57%
• DSCR: 1.96
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $215,512
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
204 10th St	0.09mi	2/2.0	1,905 (+10%)	2mo	$190,000	$100	74
3302 Stonebrook Ln	0.29mi	2/2.0	1,644 (-5%)	6mo	$394,970	$240	68
1110 Terrace Rd	0.45mi	3/2.0 (+1)	1,832 (+5%)	1mo	$331,500	$181	60
307 8th St	0.43mi	3/2.0 (+1)	1,729 (-0%)	14mo	$232,000	$134	58
1408 Prospect Ave	0.52mi	2/1.0	1,616 (-7%)	3mo	$230,000	$142	54
308 13th Pl	0.38mi	3/2.0 (+1)	1,582 (-9%)	5mo	$280,000	$177	54
204 Maple Ave	0.68mi	2/2.0	1,872 (+8%)	1mo	$210,000	$112	50
1408 Elm Ave	0.54mi	2/2.0	1,862 (+7%)	11mo	$230,000	$124	50
1105 9th St	0.59mi	3/2.0 (+1)	1,836 (+6%)	8mo	$215,000	$117	47
207 17th St	0.69mi	2/2.0	1,920 (+10%)	6mo	$235,000	$122	42
704 9th St	0.71mi	3/3.0 (+1)	1,908 (+10%)	8mo	$235,000	$123	39
402 14th St	0.65mi	3/2.0 (+1)	1,920 (+10%)	15mo	$165,000	$86	31

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 · 3.31% rent growth · sell at horizon

5-year hold

• IRR: 14.5%
• Equity multiple: 1.58×
• Total profit: $21,674
• Equity at exit: $19,831

10-year hold

• IRR: 23.5%
• Equity multiple: 3.05×
• Total profit: $76,232
• Equity at exit: $11,499

Cash invested: $37,240 (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 68701

• Rents YoY: 3.3%
• Active inventory: 230
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,934 medium
• Mortgage (P&I): −$697
• Tax from tax record: −$106 /mo · $1,272/yr
• Insurance: −$55
• HOA: −$0
• Vacancy / Maint / Mgmt: −$406
• Net cashflow: $669

Break-even live

Break-even rent $1,087

Max offer price $133,000

Occupancy floor 60%

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: $33,250
• Closing costs: $3,990
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1208 Koenigstein Ave Norfolk, NE	3.0	1.5	1140	$2,200	$1.93	43d	1	0.21mi
1401 Lakewood Dr Norfolk, NE	2.0–3.0	1.0–1.5	937	$1,120	$1.19	23d	2	0.88mi
1007 E Maple Ave Norfolk, NE	3.0	2.0	2050	$3,595	$1.75	23d	1	1.45mi

Listing history 21 events

1. 2026-06-19
   days on market $133,000 Active 28 DOM
2. 2026-06-18
   days on market $133,000 Active 27 DOM
3. 2026-06-17
   days on market $133,000 Active 26 DOM
4. 2026-06-16
   days on market $133,000 Active 25 DOM
5. 2026-06-15
   days on market $133,000 Active 24 DOM
6. 2026-06-14
   days on market $133,000 Active 22 DOM
7. 2026-06-12
   days on market $133,000 Active 21 DOM
8. 2026-06-09
   days on market $133,000 Active 18 DOM
9. 2026-06-08
   days on market $133,000 Active 17 DOM
10. 2026-06-07
    days on market $133,000 Active 16 DOM
11. 2026-06-05
    days on market $133,000 Active 13 DOM
12. 2026-06-03
    days on market $133,000 Active 12 DOM
13. 2026-06-02
    days on market $133,000 Active 11 DOM
14. 2026-06-01
    days on market $133,000 Active 10 DOM
15. 2026-05-31
    days on market $133,000 Active 9 DOM
16. 2026-05-30
    days on market $133,000 Active 8 DOM
17. 2026-05-15
    status Pending
18. 2026-05-12
    price $133,000
19. 2026-05-07
    listed $149,900 Active
20. 2016-05-10
    soldstatus $80,000
21. 2011-06-01
    soldstatus $25,000

ⓘ 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: $1,272 · $106/mo
• Projected year-2 tax: $2,301 · $192/mo
• Expected delta: +$1,029/yr (+$86/mo · 80.9%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,213
• − Mortgage interest: −$7,450
• − Property taxes: −$1,272
• − Insurance: −$665
• − Repairs & maintenance: −$1,857
• − Management: −$1,857
• − Depreciation: −$3,869
• Taxable income: $6,243
• Est. tax owed @ 24.0%: −$1,498
• After-tax cash flow: $6,533/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: Norfolk Public Schools
• NCES district ID: 3174430
• Math proficiency: 44% ▼ -7.00%
• Reading proficiency: 46% ▼ -7.00%
• Median HH income: $46,579
• Composite: 38.31/100
• National rank: #4227
• State rank: #84 of 111 in NE

Livability — Norfolk

• Score: 78/100
• State rank: #54
• US rank: #2611

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Norfolk, NE
• County: Madison County · 31,417 people
• City population: 31,417
• Metro: Norfolk, NE
• Population (ZIP): 31,417
• Household income: $62,633
• Rent vs Own: 35.5% rent · 64.5% own
• Severe rent burden: 861.0

Population outlook (Madison County) Hauer SSP2

• Today (2025): 35,536 people
• By 2030: 35,518 · -0.1%
• By 2040: 35,170 · -1.0%
• By 2050: 34,606 · -2.6%
• By 2075: 34,522 · -2.9%
• By 2100: 34,307 · -3.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Hispanic / Latino 14% Two or more races 9% Native American 1% Black 1%
• Hispanic origin (detail): Mexican 11% Cuban 1%
• Common ancestry: Portuguese 2% Romanian 1% Lithuanian 1%
• Foreign-born: 6% · Canada
• Languages at home: 90% English-only · Spanish 9%

Political lean MEDSL · Madison

• 2024 margin: Solid R (+56.0) · D 21.4% · R 77.4% · Other 1.2%
• 2008→2024 swing: -16.8pp toward R · 2008: -39.2pp · 2024: -56.0pp
• All cycles: 2024: R+56.0 2020: R+53.5 2016: R+56.3 2012: R+48.1 2008: R+39.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -172.61%
• Current HPI: 260.5574
• Rent YoY: ▲ 3.31%
• Metro: Norfolk, NE
• 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

+432.0% since first listed

5 events — show timeline

• 2026-05-15 Pending — NNEMLS
• 2026-05-12 Price Changed $133,000 NNEMLS
• 2026-05-07 Listed $149,900 NNEMLS
• 2016-05-10 Sold (Public Records) $80,000 Public Records
• 2011-06-01 Sold (Public Records) $25,000 Public Records

Property tax history

+3.8%/yr

Latest (2025): $1,272 · +3.6% YoY. Source: county tax records.