4008 15th St · Columbus, NE 68601

$120,000

2 bd · 1.0 ba · 1,152 sqft · SingleFamily public records · 3 Days on market

Built 1951 5,040 sqft lot Est $233k · 48% under

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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 +29.9/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• Livability +4.0/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor Special – Fixer Upper with Potential! Opportunity knocks with this fixer-upper home ready for your vision. Build equity through remodeling and customize it to your style. This property features durable steel siding and a new roof installed in 2024, along with newer carpet in the living room. The HVAC system has also been updated since the home was originally built, offering added value and peace of mind. Being sold "as-is", this home is perfect for investors or buyers looking for a project with great potential.

Key facts

• Durable steel siding
• Updated hvac system
• Newer carpet

Tags

• DURABLE STEEL SIDING
• NEW ROOF
• NEWER CARPET
• UPDATED HVAC SYSTEM

Property features AI

Exterior

• Parking: Detached 1-car garage
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Natural gas available
• Home design: Single-family residential property
• Construction: Frame construction with metal and steel siding
• Exterior features: Asphalt roof; Lot approximately 63 x 80

Interior

• Kitchen: Refrigerator
• Bedrooms: Two main-level bedrooms
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Window coverings; Smoke detector(s)
• Laundry & utility: Washer; Dryer; Electric dryer hookup; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $446 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Cap rate 10.7% vs local median 3.3% in Columbus — 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 80/100 on livability (#20 in NE, #1,633 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities D-, commute F.
• Columbus Public Schools (town): math 39% / reading 43% proficiency, ranked #93 of 111 in NE (top 84%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 301 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 98 units permitted in Platte County in 2024 (17 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Platte County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $120,000

Questions for the listing agent

1. Built in 1951 — 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: 1.34% ✓
• Cap rate: 10.75%
• Cash-on-cash: 15.91%
• DSCR: 1.71
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $232,704
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3810 13th St	0.16mi	3/2.0 (+1)	1,080 (-6%)	3mo	$218,500	$202	71
1665 40th Ave	0.10mi	3/1.0 (+1)	1,297 (+13%)	3mo	$193,000	$149	67
1458 45th Ave	0.27mi	3/1.0 (+1)	1,034 (-10%)	10mo	$182,500	$176	57
4237 Bray Dr	0.44mi	3/2.0 (+1)	1,092 (-5%)	9mo	$235,000	$215	54
3912 22nd St	0.43mi	3/2.0 (+1)	1,260 (+9%)	7mo	$275,000	$218	50
3518 16th St	0.31mi	2/2.0	1,296 (+12%)	20mo	$195,000	$150	44
1 Thundershore Dr	0.62mi	2/2.0	1,238 (+8%)	22mo	$350,000	$283	37

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: 6.8%
• Equity multiple: 1.27×
• Total profit: $8,957
• Equity at exit: $17,892

10-year hold

• IRR: 16.2%
• Equity multiple: 2.32×
• Total profit: $44,439
• Equity at exit: $10,375

Cash invested: $33,600 (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 68601

• Home prices YoY: -22.4%
• Active inventory: 301
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,614 high
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,800/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$339
• Net cashflow: $446

Break-even live

Break-even rent $1,050

Max offer price $120,000

Occupancy floor 67%

Sensitivity live

Price	-10% $528	-5% $487	+0% $446	+5% $404	+10% $363
Rent	-10% $318	-5% $382	+0% $446	+5% $509	+10% $573
Rate	-1.0pp $506	-0.5pp $476	base $446	+0.5pp $414	+1.0pp $383

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1281 37th Ave Columbus, NE	2.0	2.0	1250	$1,850	$1.48	44d	1	0.29mi
3539 43rd Ave Unit 208 Columbus, NE	2.0	2.0	1053	$1,650	$1.57	44d	1	1.17mi
3539 43rd Ave Unit 304 Columbus, NE	2.0	2.0	1051	$1,595	$1.52	44d	1	1.17mi
3539 43rd Ave Unit 102 Columbus, NE	2.0	2.0	1051	$1,850	$1.76	44d	1	1.17mi
3539 43rd Ave Unit 202 Columbus, NE	2.0	2.0	973	$1,525	$1.57	44d	1	1.17mi
3539 43rd Ave Unit 105 Columbus, NE	1.0	1.0	775	$1,475	$1.90	44d	1	1.17mi
3539 43rd Ave Unit 104 Columbus, NE	1.0	1.0	716	$1,395	$1.95	44d	1	1.17mi
3539 43rd Ave Unit 305 Columbus, NE	1.0	1.0	775	$1,325	$1.71	44d	1	1.17mi
3539 43rd Ave Unit 203 Columbus, NE	1.0	1.0	726	$1,275	$1.76	44d	1	1.17mi
3539 43rd Ave Unit 306 Columbus, NE	1.0	1.0	716	$1,225	$1.71	44d	1	1.17mi
3539 43rd Ave Unit 106 Columbus, NE	2.0	2.0	1053	$1,750	$1.66	44d	1	1.17mi
3539 43rd Ave Unit 103 Columbus, NE	1.0	1.0	726	$1,425	$1.96	44d	1	1.17mi
3539 43rd Ave Unit 307 Columbus, NE	2.0	1.0	903	$1,425	$1.58	44d	1	1.17mi

Listing history 2 events

1. 2026-05-01
   status Pending
2. 2026-04-24
   listed $120,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°F today · 16 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: $19,365
• − Mortgage interest: −$6,722
• − Property taxes: −$1,800
• − Insurance: −$600
• − Repairs & maintenance: −$1,549
• − Management: −$1,549
• − Depreciation: −$3,491
• Taxable income: $3,654
• Est. tax owed @ 24.0%: −$877
• After-tax cash flow: $4,470/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: Columbus Public Schools
• NCES district ID: 3105340
• Math proficiency: 39% ▼ -10.00%
• Reading proficiency: 43% ▼ -3.00%
• Median HH income: $51,074
• Composite: 35.41/100
• National rank: #4942
• State rank: #93 of 111 in NE

Livability — Columbus

• Score: 80/100
• State rank: #20
• US rank: #1633

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Columbus, NE
• City population: 30,619
• Population (ZIP): 30,619

Population outlook (Platte County) Hauer SSP2

• Today (2025): 34,130 people
• By 2030: 34,778 · +1.9%
• By 2040: 36,436 · +6.8%
• By 2050: 38,648 · +13.2%
• By 2075: 47,293 · +38.6%
• By 2100: 57,020 · +67.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Hispanic / Latino 25% Two or more races 14%
• Hispanic origin (detail): Mexican 14% Cuban 2%
• Common ancestry: Romanian 7% Portuguese 2% Lithuanian 1%
• Foreign-born: 14% · Canada
• Languages at home: 79% English-only · Spanish 20%

Political lean MEDSL · Platte

• 2024 margin: Solid R (+58.3) · D 20.4% · R 78.7%
• 2008→2024 swing: -16.8pp toward R · 2008: -41.5pp · 2024: -58.3pp
• All cycles: 2024: R+58.3 2020: R+56.8 2016: R+58.8 2012: R+51.8 2008: R+41.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -100.37%
• Current HPI: 347.5063
• 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

2 events — show timeline

• 2026-05-01 Pending — CBOR
• 2026-04-24 Listed $120,000 CBOR