204 S Park St

Hooper, NE 68031

$44,950A-

5 bd · 1.0 ba · 1,096 sqft · Built 1920 · SingleFamily · Pending · 32 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,090/mo
• Mortgage (P&I): −$236
• Tax + insurance: −$164
• HOA: −$0
• Vac / Maint / Mgmt: −$229
• Net cashflow: $461/mo
• Annual: $5,535/yr
• Cap rate: 18.61%
• Cash-on-cash: 43.98%
• DSCR: 2.96
• 1% rule: 2.42%
• Cash to close: $12,586

Investor read

• This is a 5-bed/1.0-bath single-family listed at $45k.
• At list price, monthly cash flow is $461 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• It's been on market 32 days — a 3% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $44k (3.0% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($310 loan paydown + $4k appreciation (8.2% local appreciation)).
• Location reads 75/100 on livability (#96 in NE, #3,877 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Logan View Public Schools (rural): math 56% / reading 52% proficiency, ranked #44 of 111 in NE (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: property tax is 3.9% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 15 active listings in the ZIP; 82 units permitted in Dodge County in 2024 (0 in 5+ unit buildings).
• 5 sale attempts since 18y ago; this cycle's ask has dropped $59.91M (100%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $18k; list at $45k implies a 150% gain — meaningful room to come down on a strong offer.
• At projected returns (8.2% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.