910 S 1st St · Plattsmouth, NE 68048

$215,000

2 bd · 2.0 ba · 1,068 sqft · MultiFamily public records · 12 Days on market

Built 2001 5,227 sqft lot $201/sqft · 138% above area Est $181k · 19% over

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Why this score? — see what drove the C 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 +28.2/30.0
• DSCR +10.0/10.0
• 1% rule +7.5/10.0
• Schools +3.8/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Two bedroom, two bathroom townhouse. Small yard requires little mowing. Attached garage, balcony in back. Tree lined back yard. Large, unfinished walkout basement with opportunity to add more finished area. Needs some TLC. Property sold "As-Is, Where Is". Cash Sale.

Key facts

• Attached half bath
• Large walk-in closet
• Walk out basement

Tags

• FULLY FENCED BACKYARD
• DECK BACKED UP TO TREES
• WALK OUT BASEMENT
• LARGE WALK-IN CLOSET
• ATTACHED FULL BATHROOM
• ATTACHED HALF BATH

Property features AI

Exterior

• Parking: Attached garage with one covered parking space (1 total)
• Utilities: Public water; Public sewer
• Home design: Residential duplex; Property is attached; Not new or a model; Two-level living with finished basement; Built in 2001
• Construction: Vinyl siding; Composition roof; Concrete perimeter foundation
• Exterior features: Covered deck and open deck; Daylight lower-level windows; Lot roughly 0.12 acre (up to 1/4 acre)

Interior

• Kitchen: Kitchen with vinyl flooring and dining area; Range; Refrigerator; Dishwasher; Disposal
• Bedrooms: Main floor primary bedroom with vinyl flooring and walk-in closet; Main floor secondary bedroom; Basement bedroom
• Flooring: Vinyl flooring throughout main living areas
• Bathrooms: Two bathrooms total: one full bath and one three-quarter (3/4) bath; Main level has two bathrooms; basement has one below-grade bathroom
• Heating & cooling: Natural gas heating; Forced air; Heat pump; Central air conditioning
• Interior features: Ceiling fans
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $215k.

Deal economics

• At list price, monthly cash flow is $683 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $215k).
• Cap rate 10.1% vs local median 3.3% in Plattsmouth — 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 75/100 on livability (#94 in NE, #3,825 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Plattsmouth Community Schools (town): math 40% / reading 46% proficiency, ranked #87 of 111 in NE (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Plattsmouth Early Childhood (167 students, 73% FRL); Plattsmouth Middle School (math 38% / reading 45%, grade F, #80 of 128 statewide, top 63%, 395 students, 43% FRL); Plattsmouth High School (math 37% / reading 37%, grade F, #201 of 261 statewide, top 78%, 491 students, 36% FRL) — zoned schools average 51% FRL vs 32% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 180 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 86 units permitted in Cass County in 2024 (30 in 5+ unit buildings).
• This rent runs 36% of the median local income ($90k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Cass County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $60k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 24y 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 $100k; list at $215k implies a 115% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $215,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.25% ✓
• Cap rate: 10.10%
• Cash-on-cash: 13.61%
• DSCR: 1.61
• GRM: 6.7

CMA / ARV

• ARV (median comp): $180,755
• List price: $215,000
• Delta: 18.95%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 3.7%
• Equity multiple: 1.14×
• Total profit: $8,667
• Equity at exit: $32,057

10-year hold

• IRR: 13.2%
• Equity multiple: 2.06×
• Total profit: $63,606
• Equity at exit: $18,589

Cash invested: $60,200 (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 68048

• Home prices YoY: -25.2%
• Active inventory: 180
• Price-to-rent: 16.5×

Monthly cashflow live

• Estimated rent: $2,690 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$225 /mo · $2,702/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$565
• Net cashflow: $683

Break-even live

Break-even rent $1,826

Max offer price $215,000

Occupancy floor 70%

Sensitivity live

Price	-10% $805	-5% $744	+0% $683	+5% $622	+10% $561
Rent	-10% $470	-5% $577	+0% $683	+5% $789	+10% $895
Rate	-1.0pp $791	-0.5pp $738	base $683	+0.5pp $627	+1.0pp $570

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	3	2	$1,083
▸ 2× units	1	1	$1,608
Total (3 units)			$2,690

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
817 James Pkwy Unit 3 Plattsmouth, NE	2.0	1.0	800	$975	$1.22	2d	1	0.61mi
546 Main St Unit 3I Plattsmouth, NE	2.0	1.0	1000	$925	$0.93	11d	1	0.70mi
1712 4th Ave Plattsmouth, NE	2.0	1.0	1000	$1,077	$1.08	2d	5	1.09mi
2211 1st Ave Plattsmouth, NE	1.0–2.0	1.0–2.0	1111	$1,649	$1.48	2d	20	1.45mi

Listing history 26 events

1. 2026-05-11
   status Pending 458-char remark
2. 2026-04-29
   listed $215,000 New 458-char remark
3. 2020-12-01
   soldstatus $100,000
4. 2020-09-10
   historical
5. 2020-09-05
   price $120,000
6. 2020-07-24
   listed $130,000 Active - New
7. 2019-12-10
   soldstatus $75,550 Sold

   Show marketing remark (280 chars)

   Two bedroom, two bathroom townhouse. Small yard requires little mowing. Attached garage, balcony in back. Tree lined back yard. Large, unfinished walkout basement with opportunity to add more finished area. Needs some TLC. Property sold "As-Is, Where Is". Cash Sale.

8. 2019-11-14
   status Pending

   Show marketing remark (280 chars)

   Two bedroom, two bathroom townhouse. Small yard requires little mowing. Attached garage, balcony in back. Tree lined back yard. Large, unfinished walkout basement with opportunity to add more finished area. Needs some TLC. Property sold "As-Is, Where Is". Cash Sale.

9. 2019-10-30
   listed $75,200 Active - New

   Show marketing remark (280 chars)

   Two bedroom, two bathroom townhouse. Small yard requires little mowing. Attached garage, balcony in back. Tree lined back yard. Large, unfinished walkout basement with opportunity to add more finished area. Needs some TLC. Property sold "As-Is, Where Is". Cash Sale.

10. 2017-12-01
    soldstatus $101,000
11. 2017-11-30
    soldstatus $101,000 Sold
12. 2017-10-15
    status Pending
13. 2017-09-27
    price $99,900
14. 2017-09-09
    price $104,900
15. 2017-08-23
    price $109,900
16. 2017-07-03
    price $113,000
17. 2017-06-05
    listed $115,000 Active - New
18. 2013-08-29
    soldstatus $84,000
19. 2013-07-21
    historical
20. 2013-07-05
    listed $85,000
21. 2013-04-05
    soldstatus $40,000
22. 2013-03-20
    historical
23. 2013-01-11
    listed $56,000
24. 2002-07-25
    soldstatus $102,000
25. 2002-06-05
    historical
26. 2002-04-30
    listed $102,000

ⓘ 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: $2,702 · $225/mo
• Projected year-2 tax: $3,720 · $310/mo
• Expected delta: +$1,017/yr (+$85/mo · 37.7%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥105°F today · 15 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: $32,280
• − Mortgage interest: −$12,043
• − Property taxes: −$2,702
• − Insurance: −$1,075
• − Repairs & maintenance: −$2,582
• − Management: −$2,582
• − Depreciation: −$6,255
• Taxable income: $5,040
• Est. tax owed @ 24.0%: −$1,210
• After-tax cash flow: $6,985/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: Plattsmouth Community Schools
• NCES district ID: 3175660
• Math proficiency: 40% ▼ -9.00%
• Reading proficiency: 46% ▬ 0.00%
• Median HH income: $59,340
• Composite: 37.86/100
• National rank: #4326
• State rank: #87 of 111 in NE

Livability — Plattsmouth

• Score: 75/100
• State rank: #94
• US rank: #3825

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Plattsmouth, NE
• County: Cass County · 13,435 people
• City population: 13,435
• Metro: Omaha-Council Bluffs, NE-IA
• Population (ZIP): 13,435
• Household income: $89,931
• Rent vs Own: 16.0% rent · 84.0% own
• Severe rent burden: 64.0

Population outlook (Cass County) Hauer SSP2

• Today (2025): 26,174 people
• By 2030: 26,293 · +0.5%
• By 2040: 26,112 · -0.2%
• By 2050: 25,329 · -3.2%
• By 2075: 23,744 · -9.3%
• By 2100: 20,901 · -20.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 7% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 5% Slovak 2% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Cass

• 2024 margin: Solid R (+37.2) · D 30.6% · R 67.8% · Other 1.6%
• 2008→2024 swing: -17.7pp toward R · 2008: -19.5pp · 2024: -37.2pp
• All cycles: 2024: R+37.2 2020: R+35.1 2016: R+39.1 2012: R+26.4 2008: R+19.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -75.50%
• Current HPI: 224.1437
• Rent YoY: —
• Metro: Omaha-Council Bluffs, NE-IA
• 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

+110.8% since first listed

26 events — show timeline

• 2026-05-11 Pending — GPRMLS
• 2026-04-29 Listed $215,000 GPRMLS
• 2020-12-01 Sold (Public Records) $100,000 Public Records
• 2020-09-10 Listing Removed — GPRMLS
• 2020-09-05 Price Changed $120,000 GPRMLS
• 2020-07-24 Listed $130,000 GPRMLS
• 2019-12-10 Sold (MLS) $75,550 GPRMLS
• 2019-11-14 Pending — GPRMLS
• 2019-10-30 Listed $75,200 GPRMLS
• 2017-12-01 Sold (Public Records) $101,000 Public Records
• 2017-11-30 Sold (MLS) $101,000 GPRMLS
• 2017-10-15 Pending — GPRMLS
• 2017-09-27 Price Changed $99,900 GPRMLS
• 2017-09-09 Price Changed $104,900 GPRMLS
• 2017-08-23 Price Changed $109,900 GPRMLS
• 2017-07-03 Price Changed $113,000 GPRMLS
• 2017-06-05 Listed $115,000 GPRMLS
• 2013-08-29 Sold (MLS) $84,000 GPRMLS
• 2013-07-21 Listing Removed — GPRMLS
• 2013-07-05 Listed $85,000 GPRMLS
• 2013-04-05 Sold (MLS) $40,000 GPRMLS
• 2013-03-20 Listing Removed — GPRMLS
• 2013-01-11 Listed $56,000 GPRMLS
• 2002-07-25 Sold (MLS) $102,000 GPRMLS
• 2002-06-05 Listing Removed — GPRMLS
• 2002-04-30 Listed $102,000 GPRMLS

Property tax history

+1.4%/yr

Latest (2025): $2,702 · -2.6% YoY. Source: county tax records.