506 Sunrise Rd

Cozad, NE 69130

$18,000D+

2 bd · 1.0 ba · 840 sqft · Built 1974 · Manufactured · Active · 20 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $904/mo
• Mortgage (P&I): −$94
• Tax + insurance: −$21
• HOA: −$0
• Vac / Maint / Mgmt: −$190
• Net cashflow: $599/mo
• Annual: $7,188/yr
• Cap rate: 46.22%
• Cash-on-cash: 142.61%
• DSCR: 7.35
• 1% rule: 5.02%
• Cash to close: $5,040

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $18k.
• At list price, monthly cash flow is $599 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($904 rent vs $18k).
• It's been on market 20 days — a 2% lower offer ($18k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $18k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $124 of loan paydown is wiped out by about $540 of value loss. Plan a longer hold.
• Location reads 80/100 on livability (#22 in NE, #1,638 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: schools C-, amenities F, commute F.
• Cozad Community Schools (town): math 43% / reading 42% proficiency, ranked #90 of 111 in NE (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 37 active listings in the ZIP; 61 units permitted in Dawson County in 2024 (36 in 5+ unit buildings).
• Dawson County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $5k cash investment doubles in ~1 year — after that, you're playing with house money.
• Cap rate 46.2% vs local median 3.2% in Cozad — 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

• Built in 1974 — 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.