808 S Chestnut St · Friend, NE 68359

$130,000

2 bd · 2.0 ba · 2,074 sqft · SingleFamily public records · 88 Days on market

Built 1913 0.34 ac lot $63/sqft · 39% below area Est $211k · 39% under ↓ 19% since listing

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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 +15.0/30.0
• ARV discount +15.0/15.0
• Schools +4.9/10.0
• DSCR +4.6/10.0
• Livability +3.8/5.0
• 1% rule +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great investment opportunity in the heart of Friend! This 2 bed, 2 bath home offers over 2,000 sq ft of living space on a spacious lot. With its generous layout and classic character, this property presents a great opportunity for investors or buyers looking to add value with updates and personal touches. Convenient small-town location with plenty of potential!

Key facts

• 0.34 acre lot
• 2 garage spots
• Built 1913

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $40 ($484/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $106k (18.2% below list).
• Recommended offer: $106k (18.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 76/100 on livability (#85 in NE, #3,558 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Friend Public Schools (rural): math 60% / reading 50% proficiency, ranked #102 of 245 in NE (top 42%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 19% free/reduced lunch — higher-income household profile.
• Market conditions: 11 active listings in the ZIP; 36 units permitted in Saline County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Saline County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 88 days — a 6% lower offer ($122k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1913 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $106,308 (18.2% below list)

Questions for the listing agent

1. It's been on market 88 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
2. Built in 1913 — 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 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?
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: 0.82% ✗
• Cap rate: 6.67%
• Cash-on-cash: 1.33%
• DSCR: 1.06
• GRM: 10.2

CMA / ARV

• ARV (median comp): $211,445
• List price: $130,000
• Delta: -38.52%
• Verdict: UNDERPRICED
• Comps: 18 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
718 2nd St	0.43mi	2/1.0	2,050 (-1%)	12mo	$61,500	$30	64
302 4th St	0.41mi	3/2.0 (+1)	2,171 (+5%)	10mo	$270,000	$124	59
514 5th St	0.25mi	3/2.0 (+1)	1,848 (-11%)	8mo	$205,000	$111	59
1311 E 3rd St	0.53mi	2/2.0	1,809 (-13%)	17mo	$212,000	$117	40

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: -14.2%
• Equity multiple: 0.49×
• Total profit: $-18,541
• Equity at exit: $19,383

10-year hold

• IRR: -5.5%
• Equity multiple: 0.64×
• Total profit: $-13,019
• Equity at exit: $11,240

Cash invested: $36,400 (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 68359

• Home prices YoY: -8.6%
• Active inventory: 11
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,063 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$64 /mo · $763/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $40

Break-even live

Break-even rent $1,012

Max offer price $130,000

Occupancy floor 91%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-08
   days on market $130,000 Active 88 DOM
2. 2026-06-07
   days on market $130,000 Active 87 DOM
3. 2026-06-05
   days on market $130,000 Active 85 DOM
4. 2026-06-04
   days on market $130,000 Active 83 DOM
5. 2026-06-02
   days on market $130,000 Active 82 DOM
6. 2026-06-01
   days on market $130,000 Active 81 DOM
7. 2026-05-31
   days on market $130,000 Active 80 DOM
8. 2026-05-14
   price $145,000 363-char remark

   Show marketing remark (363 chars)

   Great investment opportunity in the heart of Friend! This 2 bed, 2 bath home offers over 2,000 sq ft of living space on a spacious lot. With its generous layout and classic character, this property presents a great opportunity for investors or buyers looking to add value with updates and personal touches. Convenient small-town location with plenty of potential!

9. 2026-04-30
   price $160,000 363-char remark

   Show marketing remark (363 chars)

   Great investment opportunity in the heart of Friend! This 2 bed, 2 bath home offers over 2,000 sq ft of living space on a spacious lot. With its generous layout and classic character, this property presents a great opportunity for investors or buyers looking to add value with updates and personal touches. Convenient small-town location with plenty of potential!

10. 2026-03-06
    listed $180,000 New 363-char remark

    Show marketing remark (363 chars)

    Great investment opportunity in the heart of Friend! This 2 bed, 2 bath home offers over 2,000 sq ft of living space on a spacious lot. With its generous layout and classic character, this property presents a great opportunity for investors or buyers looking to add value with updates and personal touches. Convenient small-town location with plenty of potential!

ⓘ 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: $763 · $64/mo
• Projected year-2 tax: $2,249 · $187/mo
• Expected delta: +$1,486/yr (+$124/mo · 194.7%)

ⓘ 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 ≥105°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: $12,757
• − Mortgage interest: −$7,282
• − Property taxes: −$763
• − Insurance: −$650
• − Repairs & maintenance: −$1,021
• − Management: −$1,021
• − Depreciation: −$3,782
• Taxable loss: −$1,761
• Est. tax savings @ 24.0%: +$423
• After-tax cash flow: $907/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: Friend Public Schools
• NCES district ID: 3100096
• Math proficiency: 60% ▬ 0.00%
• Reading proficiency: 50% ▲ 5.00%
• Median HH income: $53,195
• Composite: 49.07/100
• National rank: #4426
• State rank: #102 of 245 in NE

Livability — Friend

• Score: 76/100
• State rank: #85
• US rank: #3558

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Friend, NE
• Population (ZIP): 1,512

Population outlook (Saline County) Hauer SSP2

• Today (2025): 15,242 people
• By 2030: 15,610 · +2.4%
• By 2040: 16,553 · +8.6%
• By 2050: 17,915 · +17.5%
• By 2075: 22,924 · +50.4%
• By 2100: 28,426 · +86.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Lithuanian 3% Romanian 2% Portuguese 2%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 95% English-only · Spanish 4%

Political lean MEDSL · Saline

• 2024 margin: Solid R (+33.2) · D 32.8% · R 66.0% · Other 1.2%
• 2008→2024 swing: -37.8pp toward R · 2008: 4.6pp · 2024: -33.2pp
• All cycles: 2024: R+33.2 2020: R+28.5 2016: R+25.4 2012: R+5.9 2008: D+4.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -19.91%
• Current HPI: 211.775
• 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

-19.4% since first listed

3 events — show timeline

• 2026-05-14 Price Changed $145,000 GPRMLS
• 2026-04-30 Price Changed $160,000 GPRMLS
• 2026-03-06 Listed $180,000 GPRMLS

Property tax history

-4.8%/yr

Latest (2025): $763 · -6.3% YoY. Source: county tax records.