221 W 7th St · Hastings, NE 68901

$144,950

3 bd · 1.0 ba · 1,256 sqft · SingleFamily public records · 7 Days on market

Built 1925 Est $153k · 5% 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 +24.3/30.0
• ARV discount +9.9/15.0
• DSCR +7.8/10.0
• 1% rule +5.9/10.0
• Livability +4.0/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 1 1/2 story bungalow. Basement foundation has been replaced/ repaired in the past 10 years. Windows, HVAC, siding, wiring and plumbing all updated in past 8 years. Off street parking with concrete pad. Alley access. Rear fenced yard. 2nd Story is sheetrocked and floored , ready for finishwork. -

Key facts

• Fenced backyard
• Off-street parking
• Corner lot

Tags

• CORNER LOT
• FENCED BACKYARD
• OFF-STREET PARKING
• KITCHEN APPLIANCES INCLUDED

Property features AI

Exterior

• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Natural gas available
• Home design: Single-family residence; Residential zoning
• Construction: Frame construction
• Exterior features: Chain link fencing

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator; Gas water heater
• Bathrooms: One main-level bathroom
• Heating & cooling: Central air; Forced air heating
• Interior features: Window coverings; Smoke detector(s)
• Laundry & utility: Laundry in basement; Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $292 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Cap rate 8.7% vs local median 4.4% in Hastings — 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 79/100 on livability (#41 in NE, #2,188 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, amenities D-, commute F.
• Hastings Public Schools (town): math 38% / reading 42% proficiency, ranked #96 of 111 in NE (top 86%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 191 active listings in the ZIP; 217 units permitted in Adams County in 2024 (132 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 11y 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 $120k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $144,950

Questions for the listing agent

1. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.09% ✓
• Cap rate: 8.71%
• Cash-on-cash: 8.65%
• DSCR: 1.38
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $153,232
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
102 E 4th St	0.22mi	3/1.0	1,311 (+4%)	12mo	$85,000	$65	73
421 E 4th St	0.45mi	3/1.0	1,330 (+6%)	9mo	$162,500	$122	62
407 E 4th St	0.42mi	2/2.0 (-1)	1,134 (-10%)	3mo	$110,111	$97	52
1139 W 5th St	0.66mi	2/1.0 (-1)	1,247 (-1%)	13mo	$120,000	$96	52
314 S Cedar Ave	0.71mi	2/1.0 (-1)	1,204 (-4%)	4mo	$149,500	$124	52
711 E 5th St	0.60mi	2/1.0 (-1)	1,232 (-2%)	18mo	$165,000	$134	49
1210 W 7th St	0.69mi	2/1.0 (-1)	1,329 (+6%)	10mo	$160,000	$120	45
512 E 12th St	0.69mi	3/2.0	1,376 (+10%)	12mo	$170,000	$124	37
1302 Mcdonald Ave	0.70mi	3/2.0	1,080 (-14%)	4mo	$158,000	$146	37
734 E 4th St	0.67mi	2/1.0 (-1)	1,124 (-10%)	12mo	$200,000	$178	36
1213 N Burlington Ave	0.70mi	3/1.0	1,414 (+13%)	13mo	$150,000	$106	36
602 E 12th St	0.72mi	2/2.0 (-1)	1,332 (+6%)	17mo	$133,000	$100	33

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: -3.2%
• Equity multiple: 0.88×
• Total profit: $-4,871
• Equity at exit: $21,613

10-year hold

• IRR: 6.5%
• Equity multiple: 1.49×
• Total profit: $19,710
• Equity at exit: $12,533

Cash invested: $40,586 (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 68901

• Active inventory: 191
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,574 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$131 /mo · $1,569/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$331
• Net cashflow: $292

Break-even live

Break-even rent $1,204

Max offer price $144,950

Occupancy floor 76%

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: $36,238
• Closing costs: $4,348
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-09
   statusdays on market $144,950 Pending 7 DOM
2. 2026-06-08
   days on market $144,950 Active 6 DOM
3. 2026-06-07
   days on market $144,950 Active 5 DOM
4. 2026-06-07
   days on market $144,950 Active 4 DOM
5. 2026-06-04
   remarks 657-char remark
6. 2026-06-03
   remarks 594-char remark
7. 2026-06-03
   listed $144,950 Active 1 DOM

ⓘ 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: $1,569 · $131/mo
• Projected year-2 tax: $2,508 · $209/mo
• Expected delta: +$939/yr (+$78/mo · 59.8%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 18 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: $18,892
• − Mortgage interest: −$8,119
• − Property taxes: −$1,569
• − Insurance: −$725
• − Repairs & maintenance: −$1,511
• − Management: −$1,511
• − Depreciation: −$4,217
• Taxable income: $1,239
• Est. tax owed @ 24.0%: −$297
• After-tax cash flow: $3,212/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: Hastings Public Schools
• NCES district ID: 3171580
• Math proficiency: 38% ▼ -8.00%
• Reading proficiency: 42% ▼ -4.00%
• Median HH income: $42,942
• Composite: 33.81/100
• National rank: #5363
• State rank: #96 of 111 in NE

Livability — Hastings

• Score: 79/100
• State rank: #41
• US rank: #2188

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hastings, NE
• City population: 26,208
• Population (ZIP): 26,208

Population outlook (Adams County) Hauer SSP2

• Today (2025): 31,965 people
• By 2030: 32,079 · +0.4%
• By 2040: 31,999 · +0.1%
• By 2050: 31,586 · -1.2%
• By 2075: 30,856 · -3.5%
• By 2100: 29,948 · -6.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 14% Two or more races 8% Black 1% Asian 1%
• Hispanic origin (detail): Mexican 9% Cuban 1%
• Common ancestry: Lithuanian 2% Romanian 2% Italian 2%
• Foreign-born: 7% · Canada, Vietnam
• Languages at home: 89% English-only · Spanish 9% Vietnamese 1%

Political lean MEDSL · Adams

• 2024 margin: Solid R (+41.6) · D 28.5% · R 70.2% · Other 1.3%
• 2008→2024 swing: -14.6pp toward R · 2008: -27.0pp · 2024: -41.6pp
• All cycles: 2024: R+41.6 2020: R+40.1 2016: R+45.0 2012: R+34.1 2008: R+27.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -255.77%
• Current HPI: 232.0444
• 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

+108.6% since first listed

4 events — show timeline

• 2026-06-02 Listed $144,950 GMNMLS
• 2021-09-03 Sold (Public Records) $120,000 Public Records
• 2016-01-20 Sold (MLS) $61,500 GMNMLS
• 2015-09-28 Listed $69,500 GMNMLS

Property tax history

+2.2%/yr

Latest (2025): $1,569 · -4.1% YoY. Source: county tax records.