213 3rd St · Wayne, NE 68787

$164,900

2 bd · 2.0 ba · 1,618 sqft · SingleFamily public records · 34 Days on market

Built 1915 Est $189k · 13% under

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Why this score? — see what drove the D+ 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 +13.7/30.0
• ARV discount +13.3/15.0
• Schools +4.8/10.0
• DSCR +4.2/10.0
• Livability +3.9/5.0
• 1% rule +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come home to this lovely 2 bed, 1.5 bath home in the charming town of Wayne, Nebraska. This spacious home sits on a double lot and boasts a 2-car detached garage, perfect for your cars and extra storage. Inside, you'll find ample space for comfortable living with a partially finished basement that offers tons of extra storage and a reverse osmosis system and new windows in the main living area. This home is ready for you to make it your own, with plenty of room to add your personal touch. Don't miss this opportunity to own a piece of Wayne's history and community! AMA

Key facts

• Double-wide driveway
• Finished basement
• Remodeled bathrooms

Tags

• FINISHED BASEMENT
• DOUBLE-CAR DETACHED GARAGE
• DOUBLE-WIDE DRIVEWAY
• ADDITIONAL ALLEY ACCESS
• REMODELED BATHROOMS
• NEW KITCHEN APPLIANCES

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $13 ($157/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $133k (19.6% below list).
• Recommended offer: $133k (19.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 77/100 on livability (#71 in NE, #3,106 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, commute F.
• Wayne Community Schools (town): math 56% / reading 57% proficiency, ranked #33 of 111 in NE (top 30%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 5 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 9 units permitted in Wayne County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Wayne County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $132,501 (19.6% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
2. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-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?
5. 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?
6. 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.
7. 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.
8. 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: 0.80% ✗
• Cap rate: 6.39%
• Cash-on-cash: 0.34%
• DSCR: 1.02
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $189,306
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
615 Douglas St	0.43mi	3/2.0 (+1)	1,612 (-0%)	2mo	$188,000	$117	72

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: -15.8%
• Equity multiple: 0.44×
• Total profit: $-25,931
• Equity at exit: $24,587

10-year hold

• IRR: -7.4%
• Equity multiple: 0.53×
• Total profit: $-21,687
• Equity at exit: $14,258

Cash invested: $46,172 (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 68787

• Home prices YoY: -11.8%
• Active inventory: 5
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,325 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$100 /mo · $1,202/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$278
• Net cashflow: $13

Break-even live

Break-even rent $1,308

Max offer price $164,900

Occupancy floor 94%

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: $41,225
• Closing costs: $4,947
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
801 E 4th St Wayne, NE	1.0–3.0	1.0–2.0	1015	$1,340	$1.32	14d	18	0.38mi

Listing history 11 events

1. 2026-03-16
   status Pending
2. 2026-03-02
   price $164,900
3. 2026-02-10
   listed $174,900 Active
4. 2024-09-03
   soldstatus $330,000
5. 2023-03-20
   soldstatus $90,000
6. 2023-03-13
   soldstatus $90,000 Sold 574-char remark

   Show marketing remark (574 chars)

   Come home to this lovely 2 bed, 1.5 bath home in the charming town of Wayne, Nebraska. This spacious home sits on a double lot and boasts a 2-car detached garage, perfect for your cars and extra storage. Inside, you'll find ample space for comfortable living with a partially finished basement that offers tons of extra storage and a reverse osmosis system and new windows in the main living area. This home is ready for you to make it your own, with plenty of room to add your personal touch. Don't miss this opportunity to own a piece of Wayne's history and community! AMA

7. 2023-02-12
   historical 574-char remark

   Show marketing remark (574 chars)

   Come home to this lovely 2 bed, 1.5 bath home in the charming town of Wayne, Nebraska. This spacious home sits on a double lot and boasts a 2-car detached garage, perfect for your cars and extra storage. Inside, you'll find ample space for comfortable living with a partially finished basement that offers tons of extra storage and a reverse osmosis system and new windows in the main living area. This home is ready for you to make it your own, with plenty of room to add your personal touch. Don't miss this opportunity to own a piece of Wayne's history and community! AMA

8. 2023-01-11
   listed $105,000 574-char remark

   Show marketing remark (574 chars)

   Come home to this lovely 2 bed, 1.5 bath home in the charming town of Wayne, Nebraska. This spacious home sits on a double lot and boasts a 2-car detached garage, perfect for your cars and extra storage. Inside, you'll find ample space for comfortable living with a partially finished basement that offers tons of extra storage and a reverse osmosis system and new windows in the main living area. This home is ready for you to make it your own, with plenty of room to add your personal touch. Don't miss this opportunity to own a piece of Wayne's history and community! AMA

9. 2016-09-15
   soldstatus $75,000
10. 2002-06-03
    soldstatus $60,000
11. 1981-11-03
    soldstatus $35,000

ⓘ 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: $1,202 · $100/mo
• Projected year-2 tax: $2,853 · $238/mo
• Expected delta: +$1,651/yr (+$138/mo · 137.3%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,900
• − Mortgage interest: −$9,237
• − Property taxes: −$1,202
• − Insurance: −$824
• − Repairs & maintenance: −$1,272
• − Management: −$1,272
• − Depreciation: −$4,797
• Taxable loss: −$2,705
• Est. tax savings @ 24.0%: +$649
• After-tax cash flow: $807/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: Wayne Community Schools
• NCES district ID: 3178520
• Math proficiency: 56% ▼ -2.00%
• Reading proficiency: 57% ▬ 0.00%
• Median HH income: $46,709
• Composite: 47.86/100
• National rank: #2219
• State rank: #33 of 111 in NE

Livability — Wayne

• Score: 77/100
• State rank: #71
• US rank: #3106

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wayne, NE
• County: Wayne County · 6,791 people
• City population: 6,791
• Metro: nan
• Population (ZIP): 6,791
• Household income: $60,275
• Rent vs Own: 51.3% rent · 48.7% own
• Severe rent burden: 334.0

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 10,079 people
• By 2030: 10,321 · +2.4%
• By 2040: 10,668 · +5.8%
• By 2050: 11,256 · +11.7%
• By 2075: 13,854 · +37.5%
• By 2100: 16,949 · +68.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 12% Two or more races 6% Black 1%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Romanian 4% Portuguese 2% Slovak 2%
• Foreign-born: 7% · Canada
• Languages at home: 88% English-only · Spanish 10% Korean 1%

Political lean MEDSL · Wayne

• 2024 margin: Solid R (+49.2) · D 24.7% · R 73.9% · Other 1.4%
• 2008→2024 swing: -16.3pp toward R · 2008: -32.9pp · 2024: -49.2pp
• All cycles: 2024: R+49.2 2020: R+48.2 2016: R+49.4 2012: R+38.8 2008: R+32.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -39.49%
• Current HPI: 295.1648
• Rent YoY: —
• Metro: nan
• 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

+371.1% since first listed

11 events — show timeline

• 2026-03-16 Pending — NNEMLS
• 2026-03-02 Price Changed $164,900 NNEMLS
• 2026-02-10 Listed $174,900 NNEMLS
• 2024-09-03 Sold (Public Records) $330,000 Public Records
• 2023-03-20 Sold (Public Records) $90,000 Public Records
• 2023-03-13 Sold (MLS) $90,000 GPRMLS
• 2023-02-12 Listing Removed — GPRMLS
• 2023-01-11 Listed $105,000 GPRMLS
• 2016-09-15 Sold (Public Records) $75,000 Public Records
• 2002-06-03 Sold (Public Records) $60,000 Public Records
• 1981-11-03 Sold (Public Records) $35,000 Public Records

Property tax history

+7.9%/yr

Latest (2025): $1,202 · +3.5% YoY. Source: county tax records.