1203 N Iowa Ave

York, NE 68467

$55,000B

2 bd · 1.0 ba · 1,568 sqft · Built 1900 · SingleFamily · Active · 47 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,000/mo
• Mortgage (P&I): −$288
• Tax + insurance: −$85
• HOA: −$0
• Vac / Maint / Mgmt: −$210
• Net cashflow: $416/mo
• Annual: $4,995/yr
• Cap rate: 15.37%
• Cash-on-cash: 32.43%
• DSCR: 2.44
• 1% rule: 1.82%
• Cash to close: $15,400

Investor read

• This is a 2-bed/1.0-bath single-family listed at $55k.
• At list price, monthly cash flow is $416 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• It's been on market 47 days — a 3% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $53k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 80/100 on livability (#24 in NE, #1,666 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• York Public Schools (town): math 55% / reading 51% proficiency, ranked #55 of 111 in NE (top 50%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: York Elementary School (math 58% / reading 50%, grade C, #194 of 502 statewide, top 39%, 594 students, 50% FRL); York Middle School (math 54% / reading 52%, grade C+, #41 of 128 statewide, top 32%, 315 students, 44% FRL); York High School (math 52% / reading 47%, grade D, #107 of 261 statewide, top 52%, 522 students, 39% FRL).
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 75 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 29 units permitted in York County in 2024 (0 in 5+ unit buildings).
• York County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~4 years — after that, you're playing with house money.
• Cap rate 15.4% vs local median 3.2% in York — 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.

Questions for listing agent

• It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% 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.
• 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?
• 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.