1231 Main St

North Bend, NE 68649

$125,000B

3 bd · 1.0 ba · 1,344 sqft · Built 1950 · SingleFamily · Pending · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,210/mo
• Mortgage (P&I): −$656
• Tax + insurance: −$576
• HOA: −$0
• Vac / Maint / Mgmt: −$254
• Net cashflow: $-276/mo
• Annual: $-3,316/yr
• Cap rate: 7.73%
• Cash-on-cash: 5.15%
• DSCR: 1.23
• 1% rule: 0.97%
• Cash to close: $35,000

Investor read

• This is a 3-bed/1.0-bath single-family listed at $125k.
• At list price, monthly cash flow is $-276 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $76k (39.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $121k (3.2% below list).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $76k (39.1% below list) — sets the bar for cash-flow.
• In year one you build about $13k of equity ($864 loan paydown + $12k appreciation (10.0% local appreciation)).
• Location reads 81/100 on livability (#18 in NE, #1,561 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• North Bend Central Public Schools (rural): math 65% / reading 64% proficiency, ranked #8 of 111 in NE (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: North Bend Central Elementary School (math 77% / reading 72%, grade A, #20 of 502 statewide, top 5%, 271 students, 26% FRL); North Bend Central Middle School (math 57% / reading 57%, grade B, #25 of 128 statewide, top 20%, 89 students, 26% FRL); North Bend Central High School (math 62% / reading 62%, grade B-, #39 of 261 statewide, top 18%, 226 students, 28% FRL) — zoned schools at 27% FRL track the district average.
• Watch-outs: flood insurance adds $427/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 24 active listings in the ZIP; 82 units permitted in Dodge County in 2024 (0 in 5+ unit buildings).
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

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 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.