712 Elm St

Nehawka, NE 68413

$55,000B+

2 bd · 1.0 ba · 1,095 sqft · Built 1973 · Manufactured · Active · 8 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,094/mo
• Mortgage (P&I): −$288
• Tax + insurance: −$90
• HOA: −$0
• Vac / Maint / Mgmt: −$230
• Net cashflow: $485/mo
• Annual: $5,824/yr
• Cap rate: 16.88%
• Cash-on-cash: 37.82%
• DSCR: 2.68
• 1% rule: 1.99%
• Cash to close: $15,400

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $55k.
• At list price, monthly cash flow is $485 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $222 of equity ($380 loan paydown + $-158 appreciation (-0.3% local appreciation)).
• Location reads 65/100 on livability (#344 in NE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A-; Watch: amenities F, commute F, health & safety F.
• Conestoga Public Schools (rural): math 52% / reading 58% proficiency, ranked #26 of 111 in NE (top 23%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Conestoga Elementary School (math 60% / reading 59%, grade B-, #111 of 502 statewide, top 26%, 393 students, 28% FRL); Conestoga Jr/Sr High School (math 42% / reading 57%, grade D, #107 of 261 statewide, top 52%, 316 students, 23% FRL).
• Market conditions: 3 active listings in the ZIP; 86 units permitted in Cass County in 2024 (30 in 5+ unit buildings).
• Cass County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-0.3% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1973 — 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.