406 N 7th St · Seward, NE 68434

$139,000

3 bd · 2.0 ba · 2,016 sqft · SingleFamily public records · 127 Days on market

Built 1903 10,019 sqft lot $69/sqft · 45% below area Est $229k · 39% 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).

• Cash flow +21.6/30.0
• ARV discount +15.0/15.0
• DSCR +6.9/10.0
• Schools +5.9/10.0
• 1% rule +5.3/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity knocks in the heart of Seward! This 3-bed, 2-bath home offers strong bones, a functional layout, and all three bedrooms conveniently located on the second floor. The main level features a spacious living area, kitchen, dining space, and a full bath. Upstairs, you’ll find three well-sized bedrooms and another bathroom ready for your finishing touches. This property needs some TLC, making it ideal for investors, DIY buyers, or anyone wanting instant equity. The large backyard with alley access provides room for a future garage, garden, or outdoor entertaining space. Located close to downtown Seward, this home is full of potential and ready for your vision.

Key facts

• Alley access
• Large backyard
• Close to downtown

Tags

• LARGE BACKYARD
• ALLEY ACCESS
• CLOSE TO DOWNTOWN

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $139k.

Deal economics

• At list price, monthly cash flow is $212 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $139k).
• Recommended offer: $122k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 2.9% in Seward — 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 83/100 on livability (#12 in NE, #886 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Seward Public Schools (town): math 73% / reading 63% proficiency, ranked #5 of 111 in NE (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: 62 active listings in the ZIP; 94 units permitted in Seward County in 2024 (48 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $961 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 127 days — a 12% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 14y 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 $85k; list at $139k implies a 64% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1903 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $122,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 127 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1903 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-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?
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: 1.03% ✓
• Cap rate: 8.12%
• Cash-on-cash: 6.54%
• DSCR: 1.29
• GRM: 8.1

CMA / ARV

• ARV (median comp): $228,525
• List price: $139,000
• Delta: -39.18%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
406 N 7th St	0.00mi	3/2.0	1,809 (-10%)	0mo	$130,000	$72	82
306 Cherry Ln	0.38mi	3/2.0	2,021 (+0%)	4mo	$247,000	$122	79
916 Hillcrest Dr	0.42mi	3/3.0	2,016 (0%)	4mo	$359,000	$178	74
920 N 7th St	0.31mi	4/2.0 (+1)	1,888 (-6%)	1mo	$190,000	$101	69
527 Grand Ave	0.60mi	4/2.5 (+1)	1,986 (-2%)	1mo	$270,000	$136	62
210 Greenwood Ave	0.53mi	3/2.0	2,183 (+8%)	1mo	$270,000	$124	61
1127 N 5th St	0.46mi	3/2.0	2,208 (+10%)	3mo	$265,000	$120	60
107 Pearl St	0.38mi	3/1.5	2,224 (+10%)	4mo	$282,000	$127	60
614 North Ave	0.59mi	2/2.0 (-1)	1,936 (-4%)	1mo	$233,300	$121	60
1052 Kolterman Ave	0.63mi	4/2.0 (+1)	1,955 (-3%)	3mo	$276,700	$142	58
120 Hillcrest Dr	0.50mi	3/2.0	2,239 (+11%)	0mo	$277,000	$124	58
178 E Roberts St	0.51mi	3/1.0	1,753 (-13%)	2mo	$180,000	$103	49

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: -6.2%
• Equity multiple: 0.77×
• Total profit: $-9,011
• Equity at exit: $20,725

10-year hold

• IRR: 3.4%
• Equity multiple: 1.25×
• Total profit: $9,548
• Equity at exit: $12,018

Cash invested: $38,920 (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 68434

• Home prices YoY: -32.0%
• Active inventory: 62
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,435 medium
• Mortgage (P&I): −$729
• Tax from tax record: −$135 /mo · $1,616/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$301
• Net cashflow: $212

Break-even live

Break-even rent $1,166

Max offer price $139,000

Occupancy floor 80%

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-05-08
   status Pending 686-char remark

   Show marketing remark (686 chars)

   Opportunity knocks in the heart of Seward! This 3-bed, 2-bath home offers strong bones, a functional layout, and all three bedrooms conveniently located on the second floor. The main level features a spacious living area, kitchen, dining space, and a full bath. Upstairs, you’ll find three well-sized bedrooms and another bathroom ready for your finishing touches. This property needs some TLC, making it ideal for investors, DIY buyers, or anyone wanting instant equity. The large backyard with alley access provides room for a future garage, garden, or outdoor entertaining space. Located close to downtown Seward, this home is full of potential and ready for your vision.

2. 2026-03-23
   status Back On Market 686-char remark

   Show marketing remark (686 chars)

   Opportunity knocks in the heart of Seward! This 3-bed, 2-bath home offers strong bones, a functional layout, and all three bedrooms conveniently located on the second floor. The main level features a spacious living area, kitchen, dining space, and a full bath. Upstairs, you’ll find three well-sized bedrooms and another bathroom ready for your finishing touches. This property needs some TLC, making it ideal for investors, DIY buyers, or anyone wanting instant equity. The large backyard with alley access provides room for a future garage, garden, or outdoor entertaining space. Located close to downtown Seward, this home is full of potential and ready for your vision.

3. 2026-02-27
   status Pending 686-char remark

   Show marketing remark (686 chars)

   Opportunity knocks in the heart of Seward! This 3-bed, 2-bath home offers strong bones, a functional layout, and all three bedrooms conveniently located on the second floor. The main level features a spacious living area, kitchen, dining space, and a full bath. Upstairs, you’ll find three well-sized bedrooms and another bathroom ready for your finishing touches. This property needs some TLC, making it ideal for investors, DIY buyers, or anyone wanting instant equity. The large backyard with alley access provides room for a future garage, garden, or outdoor entertaining space. Located close to downtown Seward, this home is full of potential and ready for your vision.

4. 2025-12-19
   status Back On Market 686-char remark

   Show marketing remark (686 chars)

   Opportunity knocks in the heart of Seward! This 3-bed, 2-bath home offers strong bones, a functional layout, and all three bedrooms conveniently located on the second floor. The main level features a spacious living area, kitchen, dining space, and a full bath. Upstairs, you’ll find three well-sized bedrooms and another bathroom ready for your finishing touches. This property needs some TLC, making it ideal for investors, DIY buyers, or anyone wanting instant equity. The large backyard with alley access provides room for a future garage, garden, or outdoor entertaining space. Located close to downtown Seward, this home is full of potential and ready for your vision.

5. 2025-12-13
   status Pending 686-char remark

   Show marketing remark (686 chars)

   Opportunity knocks in the heart of Seward! This 3-bed, 2-bath home offers strong bones, a functional layout, and all three bedrooms conveniently located on the second floor. The main level features a spacious living area, kitchen, dining space, and a full bath. Upstairs, you’ll find three well-sized bedrooms and another bathroom ready for your finishing touches. This property needs some TLC, making it ideal for investors, DIY buyers, or anyone wanting instant equity. The large backyard with alley access provides room for a future garage, garden, or outdoor entertaining space. Located close to downtown Seward, this home is full of potential and ready for your vision.

6. 2025-12-02
   listed $139,000 New 686-char remark

   Show marketing remark (686 chars)

   Opportunity knocks in the heart of Seward! This 3-bed, 2-bath home offers strong bones, a functional layout, and all three bedrooms conveniently located on the second floor. The main level features a spacious living area, kitchen, dining space, and a full bath. Upstairs, you’ll find three well-sized bedrooms and another bathroom ready for your finishing touches. This property needs some TLC, making it ideal for investors, DIY buyers, or anyone wanting instant equity. The large backyard with alley access provides room for a future garage, garden, or outdoor entertaining space. Located close to downtown Seward, this home is full of potential and ready for your vision.

7. 2025-09-19
   soldstatus $84,551
8. 2012-08-29
   soldstatus $92,000
9. 2012-08-28
   soldstatus $92,000 780-char remark

   Show marketing remark (780 chars)

   Very nice Victorian home priced to sell fast. This great home has over 2300 s.f. of finished living space above grade and is located on a large corner lot with mature trees. Conveniently located close to downtown. Beautiful leaded glass windows, wood floors, original woodwork as well as French doors can be found in this home. Enter the home off a covered front porch into the enclosed entry. Main level consists of the living room, the formal dining room, den (parlor) with wood burning stove, kitchen and bath. The laundry room with a shower is located off the sun porch. The second level consists of 3 great bedrooms and a large bath. Off the kitchen you will find a covered porch that leads to a privacy fenced rear yard. The basement is dry and has room for lots of storage.

10. 2012-06-05
    listed $94,000 780-char remark

    Show marketing remark (780 chars)

    Very nice Victorian home priced to sell fast. This great home has over 2300 s.f. of finished living space above grade and is located on a large corner lot with mature trees. Conveniently located close to downtown. Beautiful leaded glass windows, wood floors, original woodwork as well as French doors can be found in this home. Enter the home off a covered front porch into the enclosed entry. Main level consists of the living room, the formal dining room, den (parlor) with wood burning stove, kitchen and bath. The laundry room with a shower is located off the sun porch. The second level consists of 3 great bedrooms and a large bath. Off the kitchen you will find a covered porch that leads to a privacy fenced rear yard. The basement is dry and has room for lots of storage.

ⓘ 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: $1,616 · $135/mo
• Projected year-2 tax: $2,405 · $200/mo
• Expected delta: +$789/yr (+$66/mo · 48.8%)

ⓘ 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 ≥104°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: $17,221
• − Mortgage interest: −$7,786
• − Property taxes: −$1,616
• − Insurance: −$695
• − Repairs & maintenance: −$1,378
• − Management: −$1,378
• − Depreciation: −$4,044
• Taxable income: $325
• Est. tax owed @ 24.0%: −$78
• After-tax cash flow: $2,469/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: Seward Public Schools
• NCES district ID: 3176560
• Math proficiency: 73% ▼ -1.00%
• Reading proficiency: 63% ▼ -8.00%
• Median HH income: $61,041
• Composite: 58.82/100
• National rank: #975
• State rank: #5 of 111 in NE

Livability — Seward

• Score: 83/100
• State rank: #12
• US rank: #886

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Seward, NE
• Population (ZIP): 9,032

Population outlook (Seward County) Hauer SSP2

• Today (2025): 17,435 people
• By 2030: 17,568 · +0.8%
• By 2040: 17,692 · +1.5%
• By 2050: 17,709 · +1.6%
• By 2075: 18,052 · +3.5%
• By 2100: 18,296 · +4.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Iranian 2% Romanian 1% Portuguese 1%
• Foreign-born: 1% · China
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Seward

• 2024 margin: Solid R (+46.6) · D 26.0% · R 72.6% · Other 1.4%
• 2008→2024 swing: -20.8pp toward R · 2008: -25.8pp · 2024: -46.6pp
• All cycles: 2024: R+46.6 2020: R+44.0 2016: R+46.0 2012: R+34.7 2008: R+25.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -105.34%
• Current HPI: 224.0823
• 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

+47.9% since first listed

10 events — show timeline

• 2026-05-08 Pending — GPRMLS
• 2026-03-23 Relisted — GPRMLS
• 2026-02-27 Pending — GPRMLS
• 2025-12-19 Relisted — GPRMLS
• 2025-12-13 Pending — GPRMLS
• 2025-12-02 Listed $139,000 GPRMLS
• 2025-09-19 Sold (Public Records) $84,551 Public Records
• 2012-08-29 Sold (Public Records) $92,000 Public Records
• 2012-08-28 Sold (MLS) $92,000 GPRMLS
• 2012-06-05 Listed $94,000 GPRMLS

Property tax history

+0.5%/yr

Latest (2025): $1,616 · +2.8% YoY. Source: county tax records.