300 S Cuming St

Pilger, NE 68768

$179,000D+

4 bd · 2.0 ba · 1,944 sqft · Built 1905 · SingleFamily · Pending · 15 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,314/mo
• Mortgage (P&I): −$939
• Tax + insurance: −$240
• HOA: −$0
• Vac / Maint / Mgmt: −$276
• Net cashflow: $-140/mo
• Annual: $-1,685/yr
• Cap rate: 5.35%
• Cash-on-cash: -3.36%
• DSCR: 0.85
• 1% rule: 0.73%
• Cash to close: $50,120

Investor read

• This is a 4-bed/2.0-bath single-family listed at $179k.
• At list price, monthly cash flow is $-140 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $154k (13.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $131k (26.6% below list).
• It's been on market 15 days — a 2% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $131k (26.6% below list) — sets the bar for 1% rule.
• In year one you build about $12k of equity ($1k loan paydown + $11k appreciation (6.0% local appreciation)).
• Location reads 64/100 on livability (#369 in NE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety D, schools F, amenities F.
• Wisner-Pilger Public Schools (rural): math 51% / reading 52% proficiency, ranked #61 of 111 in NE (top 55%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 6 active listings in the ZIP; 8 units permitted in Stanton County in 2024 (0 in 5+ unit buildings).
• Stanton County population projected at -29% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 4, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• Built in 1905 — 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.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.