509 S Danube St · Prague, NE 68050

$175,000

3 bd · 1.0 ba · 1,716 sqft · SingleFamily public records · 43 Days on market

Built 1908 1.01 ac lot $102/sqft · 7% below area Est $203k · 14% under

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Why this score? — see what drove the C- 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 +13.7/15.0
• Cash flow +12.5/30.0
• Appreciation +9.1/10.0
• Schools +4.9/10.0
• DSCR +3.7/10.0
• Livability +3.1/5.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Contract Pending Small-town living with space to spread out! This charming story-and-a-half home in Prague is built to last with solid block walls up to the roofline. It offers over 1,800 sq ft with a main-floor primary bedroom and three spacious bedrooms upstairs. Situated on over an acre lot near the edge of town, you'll enjoy peaceful surroundings and room to garden, play, or relax. The beautifully landscaped yard features flowers that bloom throughout the seasons and includes a detached 1-car garage, storage shed, and chicken coop, perfect for hobby homesteading or extra storage. Sellers are including a Hustler 54" deck zero-turn mower and a 22' x 12' above-ground pool with filtration system, making outdoor maintenance and summer entertaining a breeze. Prague is known for its quiet rural charm and close-knit community feel. This home may qualify for USDA financing and is ready for its next chapter!

Key facts

• Storage shed
• Landscaped yard
• Above-ground pool

Tags

• MAIN-FLOOR PRIMARY BEDROOM
• DETACHED 1-CAR GARAGE
• STORAGE SHED
• CHICKEN COOP
• ABOVE-GROUND POOL
• LANDSCAPED YARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $-25 ($-300/yr) — negative.
• To cash-flow at today's rent, offer at most $171k (2.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $133k (23.8% below list).
• Recommended offer: $133k (23.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 62/100 on livability (#442 in NE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, health & safety C-, employment D.
• East Butler Public Schools (rural): math 60% / reading 50% proficiency, ranked #103 of 245 in NE (top 42%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: 3 active listings in the ZIP; 138 units permitted in Saunders County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $14k appreciation (8.2% local appreciation)).
• Saunders County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (8.2% appreciation + 3.0% rent growth), your $49k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($170k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $43k; list at $175k implies a 307% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1908 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $133,338 (23.8% 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 43 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Built in 1908 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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.
7. 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.
8. 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: 0.76% ✗
• Cap rate: 6.12%
• Cash-on-cash: -0.61%
• DSCR: 0.97
• GRM: 10.9

CMA / ARV

• ARV (median comp): $202,825
• List price: $175,000
• Delta: -13.72%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
509 S Danube St	0.00mi	4/1.0 (+1)	1,857 (+8%)	1mo	$195,000	$105	80
109 Railway Ave	0.42mi	4/2.0 (+1)	1,785 (+4%)	10mo	$270,000	$151	57

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

8.25% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.1%
• Equity multiple: 2.50×
• Total profit: $73,290
• Equity at exit: $135,985

10-year hold

• IRR: 18.6%
• Equity multiple: 5.36×
• Total profit: $213,854
• Equity at exit: $272,874

Cash invested: $49,000 (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 68050

• Home prices YoY: 3.0%
• Active inventory: 3
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $1,333 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$88 /mo · $1,052/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$280
• Net cashflow: $-25

Break-even live

Break-even rent $1,365

Max offer price $170,588

Occupancy floor 97%

Sensitivity live

Price	-10% $74	-5% $25	+0% $-25	+5% $-75	+10% $-124
Rent	-10% $-130	-5% $-78	+0% $-25	+5% $28	+10% $80
Rate	-1.0pp $63	-0.5pp $20	base $-25	+0.5pp $-70	+1.0pp $-116

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-04
   status Pending 920-char remark

   Show marketing remark (920 chars)

   Contract Pending Small-town living with space to spread out! This charming story-and-a-half home in Prague is built to last with solid block walls up to the roofline. It offers over 1,800 sq ft with a main-floor primary bedroom and three spacious bedrooms upstairs. Situated on over an acre lot near the edge of town, you'll enjoy peaceful surroundings and room to garden, play, or relax. The beautifully landscaped yard features flowers that bloom throughout the seasons and includes a detached 1-car garage, storage shed, and chicken coop, perfect for hobby homesteading or extra storage. Sellers are including a Hustler 54" deck zero-turn mower and a 22' x 12' above-ground pool with filtration system, making outdoor maintenance and summer entertaining a breeze. Prague is known for its quiet rural charm and close-knit community feel. This home may qualify for USDA financing and is ready for its next chapter!

2. 2026-03-08
   listed $175,000 New 920-char remark

   Show marketing remark (920 chars)

   Contract Pending Small-town living with space to spread out! This charming story-and-a-half home in Prague is built to last with solid block walls up to the roofline. It offers over 1,800 sq ft with a main-floor primary bedroom and three spacious bedrooms upstairs. Situated on over an acre lot near the edge of town, you'll enjoy peaceful surroundings and room to garden, play, or relax. The beautifully landscaped yard features flowers that bloom throughout the seasons and includes a detached 1-car garage, storage shed, and chicken coop, perfect for hobby homesteading or extra storage. Sellers are including a Hustler 54" deck zero-turn mower and a 22' x 12' above-ground pool with filtration system, making outdoor maintenance and summer entertaining a breeze. Prague is known for its quiet rural charm and close-knit community feel. This home may qualify for USDA financing and is ready for its next chapter!

3. 2016-07-29
   soldstatus $43,000

ⓘ 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: $1,052 · $88/mo
• Projected year-2 tax: $3,028 · $252/mo
• Expected delta: +$1,975/yr (+$165/mo · 187.6%)

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°F today · 16 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: $16,001
• − Mortgage interest: −$9,803
• − Property taxes: −$1,052
• − Insurance: −$875
• − Repairs & maintenance: −$1,280
• − Management: −$1,280
• − Depreciation: −$5,091
• Taxable loss: −$3,381
• Est. tax savings @ 24.0%: +$811
• After-tax cash flow: $512/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: East Butler Public Schools
• NCES district ID: 3100003
• Math proficiency: 60% ▲ 10.00%
• Reading proficiency: 50% ▲ 10.00%
• Median HH income: $52,470
• Composite: 49.0/100
• National rank: #4455
• State rank: #103 of 245 in NE

Livability — Prague

• Score: 62/100
• State rank: #442
• US rank: #17078

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Prague, NE
• Population (ZIP): 618

Population outlook (Saunders County) Hauer SSP2

• Today (2025): 21,261 people
• By 2030: 21,249 · -0.1%
• By 2040: 20,927 · -1.6%
• By 2050: 20,041 · -5.7%
• By 2075: 18,386 · -13.5%
• By 2100: 15,066 · -29.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 1%
• Common ancestry: Lithuanian 2% Italian 1% Iranian 1%
• Languages at home: 99% English-only · German/W. Germanic 1%

Political lean MEDSL · Saunders

• 2024 margin: Solid R (+46.4) · D 26.2% · R 72.6% · Other 1.1%
• 2008→2024 swing: -22.7pp toward R · 2008: -23.7pp · 2024: -46.4pp
• All cycles: 2024: R+46.4 2020: R+45.2 2016: R+47.0 2012: R+33.8 2008: R+23.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.25%
• Current HPI: 279.0208
• 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

+307.0% since first listed

3 events — show timeline

• 2026-05-04 Pending — GPRMLS
• 2026-03-08 Listed $175,000 GPRMLS
• 2016-07-29 Sold (Public Records) $43,000 Public Records

Property tax history

+5.0%/yr

Latest (2025): $1,052 · -6.3% YoY. Source: county tax records.