3119 14th St

Columbus, NE 68601

$185,000D

16 bd · 16.0 ba · 2,001 sqft · Built 1920 · Other · Active · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,681/mo
• Mortgage (P&I): −$970
• Tax + insurance: −$308
• HOA: −$0
• Vac / Maint / Mgmt: −$353
• Net cashflow: $49/mo
• Annual: $593/yr
• Cap rate: 6.61%
• Cash-on-cash: 1.15%
• DSCR: 1.05
• 1% rule: 0.91%
• Cash to close: $51,800

Investor read

• This is a 16-bed/16.0-bath other listed at $185k. Condition is rated fair.
• At list price, monthly cash flow is $49 ($593/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 $168k (9.1% below list).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $168k (9.1% below list) — sets the bar for 1% rule.
• 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.
• 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.
• Zoned schools: Emerson Elementary School (math 32% / reading 52%, grade F, #319 of 502 statewide, top 68%, 281 students, 52% FRL); Columbus Middle School (math 39% / reading 42%, grade F, #82 of 128 statewide, top 65%, 1,174 students, 55% FRL); Columbus High School (math 38% / reading 39%, grade F, #199 of 261 statewide, top 77%, 1,273 students, 46% FRL).
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 300 active listings in the ZIP; 98 units permitted in Platte County in 2024 (17 in 5+ unit buildings).
• Platte County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Cap rate 6.6% 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.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1920 — 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.
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — Significant damage and visible leaks.
• Major: siding — Significant damage and discoloration.
• Major: flooring — Worn-out and in need of replacement.
• Major: paint — Peeling and in need of repainting.
• Minor: HVAC units — Intact but may need cleaning or minor repairs based on the roof and siding condition.
• Minor: windows — Intact but may need sealing or replacement based on the roof and siding condition.