278 Thorn Ave · Harrison, NE 69346

$105,500

2 bd · 1.0 ba · 1,568 sqft · SingleFamily public records · 12 Days on market

Built 1920

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Why this score? — see what drove the B- 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 +25.0/30.0
• DSCR +8.1/10.0
• Appreciation +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.3/10.0
• Schools +4.8/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Nice nice family home located in Harrison, NE, Home has many updates including kitchen cabinets, counter tops, sinks, floor covering. Has a very open design for family gatherings. A wood burning stove in living room. Exterior features a stucco siding. detached garage, with a nicely landscaped yard. , great quiet neighborhood. Must see this home is in very good condition ready for occupancy.

Key facts

• Built 1920
• Listed 12 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $106k.

Deal economics

• At list price, monthly cash flow is $228 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $106k).

Location & tenants

• Location reads 70/100 on livability (#208 in NE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: crime D+, amenities F, commute F.
• Sioux County Public Schools (rural): math 60% / reading 50% proficiency, ranked #117 of 245 in NE (top 48%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Harrison Grade School (math 44% / reading 44%, grade F, #289 of 502 statewide, top 63%, 44 students, 25% FRL); Sioux County High School (math 24% / reading 24%, 26 students, 12% FRL) — zoned schools at 18% FRL track the district average.
• Zoned-school proficiency averages 34% at this address vs 55% district-wide (-20 pts) — the specific schools serving this property underperform the Sioux County Public Schools average; the district grade overstates school quality for this exact location.
• Market conditions: 1 active listings in the ZIP; 1 units permitted in Sioux County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($729 loan paydown + $6k appreciation (6.0% local appreciation)).
• Sioux County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.0% appreciation + 3.0% rent growth), your $30k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 5y 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 $77k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $105,500

Questions for the listing agent

1. Built in 1920 — 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. 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?
4. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. 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.
6. 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.
7. 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: 1.03% ✓
• Cap rate: 8.89%
• Cash-on-cash: 9.27%
• DSCR: 1.41
• GRM: 8.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.02% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.0%
• Equity multiple: 2.53×
• Total profit: $45,084
• Equity at exit: $66,458

10-year hold

• IRR: 21.8%
• Equity multiple: 5.10×
• Total profit: $121,097
• Equity at exit: $120,636

Cash invested: $29,540 (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 69346

• Home prices YoY: 3.3%
• Active inventory: 1
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,084 medium
• Mortgage (P&I): −$553
• Tax from tax record: −$31 /mo · $366/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $228

Break-even live

Break-even rent $795

Max offer price $105,500

Occupancy floor 74%

Sensitivity live

Price	-10% $288	-5% $258	+0% $228	+5% $198	+10% $169
Rent	-10% $143	-5% $186	+0% $228	+5% $271	+10% $314
Rate	-1.0pp $281	-0.5pp $255	base $228	+0.5pp $201	+1.0pp $173

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: $26,375
• Closing costs: $3,165
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-21
   days on market $105,500 Active 12 DOM
2. 2026-06-18
   days on market $105,500 Active 9 DOM
3. 2026-06-17
   days on market $105,500 Active 8 DOM
4. 2026-06-16
   days on market $105,500 Active 7 DOM
5. 2026-06-15
   days on market $105,500 Active 6 DOM
6. 2026-06-14
   days on market $105,500 Active 4 DOM
7. 2026-06-13
   days on market $105,500 Active 3 DOM
8. 2026-06-10
   remarks 133-char remark
9. 2026-06-10
   listed $105,500 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: $366 · $31/mo
• Projected year-2 tax: $1,825 · $152/mo
• Expected delta: +$1,459/yr (+$122/mo · 398.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 2/10 Low 6 d/yr ≥91°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,003
• − Mortgage interest: −$5,910
• − Property taxes: −$366
• − Insurance: −$528
• − Repairs & maintenance: −$1,040
• − Management: −$1,040
• − Depreciation: −$3,069
• Taxable income: $1,050
• Est. tax owed @ 24.0%: −$252
• After-tax cash flow: $2,488/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: Sioux County Public Schools
• NCES district ID: 3176800
• Math proficiency: 60% ▲ 10.00%
• Reading proficiency: 50% ▼ -10.00%
• Median HH income: $41,227
• Composite: 47.93/100
• National rank: #4829
• State rank: #117 of 245 in NE

Livability — Harrison

• Score: 70/100
• State rank: #208
• US rank: #7503

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Harrison, NE
• Population (ZIP): 475

Population outlook (Sioux County) Hauer SSP2

• Today (2025): 1,191 people
• By 2030: 1,147 · -3.7%
• By 2040: 1,079 · -9.4%
• By 2050: 1,061 · -10.9%
• By 2075: 1,199 · +0.7%
• By 2100: 1,492 · +25.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 8% Two or more races 3%
• Hispanic origin (detail): Cuban 7%
• Common ancestry: Portuguese 7% Lithuanian 3% Slovak 3%
• Foreign-born: 5% · Canada
• Languages at home: 95% English-only · Spanish 5%

Political lean MEDSL · Sioux

• 2024 margin: Solid R (+76.7) · D 11.4% · R 88.0%
• 2008→2024 swing: -10.3pp toward R · 2008: -66.4pp · 2024: -76.7pp
• All cycles: 2024: R+76.7 2020: R+78.0 2016: R+74.0 2012: R+71.0 2008: R+66.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.02%
• Current HPI: 188.485
• 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

+33.5% since first listed

4 events — show timeline

• 2026-06-10 Listed $105,500 FSBO.com
• 2022-03-29 Sold (Public Records) $77,444 Public Records
• 2022-03-29 Sold (MLS) — WMLS
• 2021-07-13 Listed $79,000 WMLS

Property tax history

-4.4%/yr

Latest (2025): $366 · -0.6% YoY. Source: county tax records.