1219 Park Ave · Norfolk, NE 68701

$169,900

3 bd · 2.0 ba · 1,224 sqft · SingleFamily public records · 105 Days on market

Built 1912 $139/sqft · 6% below area Est $182k · 6% under

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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 +21.1/30.0
• ARV discount +10.4/15.0
• DSCR +6.7/10.0
• 1% rule +4.9/10.0
• Livability +3.9/5.0
• Schools +3.8/10.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this centrally located 3-bedroom, 1-bath home offering comfort, convenience, and plenty of space to enjoy! Inside, you’ll find a functional layout with bright living spaces and room to make it your own. The unfinished partial basement provides excellent storage and storm shelter as well as a laundry room Step outside and fall in love with the huge fenced-in yard perfect for pets, entertaining, gardening, or simply enjoying Nebraska evenings. With its prime central location in Norfolk, you’ll be close to schools, parks, shopping, and everyday amenities. Whether you’re a first-time buyer, downsizing, or looking for an investment opportunity, this home has so much potential!

Key facts

• Huge fenced-in yard
• Functional layout
• Built 1912

Tags

• FUNCTIONAL LAYOUT
• UNFINISHED PARTIAL BASEMENT
• HUGE FENCED-IN YARD
• PRIME CENTRAL LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $243 ($3k/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 $169k (0.6% below list).
• Recommended offer: $155k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 3.2% in Norfolk — 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 78/100 on livability (#54 in NE, #2,611 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities F, commute F.
• Norfolk Public Schools (town): math 44% / reading 46% proficiency, ranked #84 of 111 in NE (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.3%/yr); 230 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; 270 units permitted in Madison County in 2024 (196 in 5+ unit buildings).
• This rent runs 32% of the median local income ($63k/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 $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 105 days — a 9% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y ago; this cycle's ask has dropped $15k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $115k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $154,609 (9.0% below list)

Questions for the listing agent

1. It's been on market 105 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1912 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.99% ✗
• Cap rate: 8.01%
• Cash-on-cash: 6.13%
• DSCR: 1.27
• GRM: 8.4

CMA / ARV

• ARV (median comp): $181,630
• List price: $169,900
• Delta: -6.46%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1313 Park Ave	0.14mi	3/2.0	1,209 (-1%)	6mo	$192,000	$159	86
212 13th St	0.15mi	3/2.0	1,092 (-11%)	0mo	$117,450	$108	75
1210 Taylor Ave	0.12mi	3/3.0	1,326 (+8%)	13mo	$192,900	$145	66
1225 Taylor Ave	0.14mi	2/2.0 (-1)	1,054 (-14%)	1mo	$162,567	$154	64
2002 Sunset Ave	0.59mi	2/2.0 (-1)	1,232 (+1%)	7mo	$234,000	$190	60
602 7th St	0.43mi	2/1.0 (-1)	1,144 (-6%)	11mo	$190,000	$166	51
2102 Sunset Ave	0.65mi	3/2.0	1,092 (-11%)	6mo	$228,500	$209	46
202 17 St	0.43mi	3/1.0	1,362 (+11%)	13mo	$165,000	$121	46
1403 Pasewalk Ave	0.32mi	3/1.0	1,396 (+14%)	14mo	$220,000	$158	46
1407 Elm	0.69mi	2/1.0 (-1)	1,188 (-3%)	12mo	$214,900	$181	44
603 4th St	0.71mi	3/1.0	1,355 (+11%)	8mo	$184,000	$136	39
406 Skyview Cir	0.64mi	2/2.0 (-1)	1,398 (+14%)	8mo	$355,000	$254	35

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 · 3.31% rent growth · sell at horizon

5-year hold

• IRR: -6.5%
• Equity multiple: 0.76×
• Total profit: $-11,554
• Equity at exit: $25,333

10-year hold

• IRR: 3.4%
• Equity multiple: 1.25×
• Total profit: $11,940
• Equity at exit: $14,690

Cash invested: $47,572 (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 68701

• Rents YoY: 3.3%
• Active inventory: 230
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,688 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$129 /mo · $1,545/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$354
• Net cashflow: $243

Break-even live

Break-even rent $1,380

Max offer price $169,900

Occupancy floor 81%

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1208 Koenigstein Ave Norfolk, NE	3.0	1.5	1140	$2,200	$1.93	43d	1	0.36mi
1805 Parker Cir Norfolk, NE	2.0	1.0	700	$1,095	$1.56	43d	1	0.57mi
1401 Lakewood Dr Norfolk, NE	2.0–3.0	1.0–1.5	937	$1,345	$1.43	23d	2	1.40mi
901 Syracuse Ave Norfolk, NE	2.0	1.0	1000	$1,095	$1.09	43d	1	1.46mi

Listing history 17 events

1. 2026-06-12
   statusdays on market $169,900 Pending 105 DOM
2. 2026-06-09
   days on market $169,900 Active 104 DOM
3. 2026-06-08
   days on market $169,900 Active 103 DOM
4. 2026-06-07
   days on market $169,900 Active 102 DOM
5. 2026-06-05
   days on market $169,900 Active 99 DOM
6. 2026-06-03
   days on market $169,900 Active 98 DOM
7. 2026-06-02
   days on market $169,900 Active 97 DOM
8. 2026-06-01
   days on market $169,900 Active 96 DOM
9. 2026-05-31
   days on market $169,900 Active 95 DOM
10. 2026-05-30
    days on market $169,900 Active 94 DOM
11. 2026-05-12
    price $174,900 709-char remark

    Show marketing remark (709 chars)

    Welcome to this centrally located 3-bedroom, 1-bath home offering comfort, convenience, and plenty of space to enjoy! Inside, you’ll find a functional layout with bright living spaces and room to make it your own. The unfinished partial basement provides excellent storage and storm shelter as well as a laundry room Step outside and fall in love with the huge fenced-in yard perfect for pets, entertaining, gardening, or simply enjoying Nebraska evenings. With its prime central location in Norfolk, you’ll be close to schools, parks, shopping, and everyday amenities. Whether you’re a first-time buyer, downsizing, or looking for an investment opportunity, this home has so much potential!

12. 2026-05-01
    price $179,900 709-char remark

    Show marketing remark (709 chars)

    Welcome to this centrally located 3-bedroom, 1-bath home offering comfort, convenience, and plenty of space to enjoy! Inside, you’ll find a functional layout with bright living spaces and room to make it your own. The unfinished partial basement provides excellent storage and storm shelter as well as a laundry room Step outside and fall in love with the huge fenced-in yard perfect for pets, entertaining, gardening, or simply enjoying Nebraska evenings. With its prime central location in Norfolk, you’ll be close to schools, parks, shopping, and everyday amenities. Whether you’re a first-time buyer, downsizing, or looking for an investment opportunity, this home has so much potential!

13. 2026-02-25
    listed $185,000 Active 709-char remark

    Show marketing remark (709 chars)

    Welcome to this centrally located 3-bedroom, 1-bath home offering comfort, convenience, and plenty of space to enjoy! Inside, you’ll find a functional layout with bright living spaces and room to make it your own. The unfinished partial basement provides excellent storage and storm shelter as well as a laundry room Step outside and fall in love with the huge fenced-in yard perfect for pets, entertaining, gardening, or simply enjoying Nebraska evenings. With its prime central location in Norfolk, you’ll be close to schools, parks, shopping, and everyday amenities. Whether you’re a first-time buyer, downsizing, or looking for an investment opportunity, this home has so much potential!

14. 2019-04-12
    soldstatus $115,000
15. 2019-04-11
    soldstatus $115,000 315-char remark

    Show marketing remark (315 chars)

    Don't miss out on this one! House sits on a large corner lot so you have lots of green space. Main floor has been opened up between the kitchen and living room. One bedroom on the main level and 2 upstairs. Full basement with plenty of storage. All kitchen appliances stay. Make an appointment to see this one soon!

16. 2019-02-19
    listed $115,000 315-char remark

    Show marketing remark (315 chars)

    Don't miss out on this one! House sits on a large corner lot so you have lots of green space. Main floor has been opened up between the kitchen and living room. One bedroom on the main level and 2 upstairs. Full basement with plenty of storage. All kitchen appliances stay. Make an appointment to see this one soon!

17. 2015-07-22
    soldstatus $79,000

ⓘ 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: $1,545 · $129/mo
• Projected year-2 tax: $2,939 · $245/mo
• Expected delta: +$1,394/yr (+$116/mo · 90.2%)

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,256
• − Mortgage interest: −$9,517
• − Property taxes: −$1,545
• − Insurance: −$850
• − Repairs & maintenance: −$1,620
• − Management: −$1,620
• − Depreciation: −$4,943
• Taxable income: $160
• Est. tax owed @ 24.0%: −$39
• After-tax cash flow: $2,877/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: Norfolk Public Schools
• NCES district ID: 3174430
• Math proficiency: 44% ▼ -7.00%
• Reading proficiency: 46% ▼ -7.00%
• Median HH income: $46,579
• Composite: 38.31/100
• National rank: #4227
• State rank: #84 of 111 in NE

Livability — Norfolk

• Score: 78/100
• State rank: #54
• US rank: #2611

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Norfolk, NE
• County: Madison County · 31,417 people
• City population: 31,417
• Metro: Norfolk, NE
• Population (ZIP): 31,417
• Household income: $62,633
• Rent vs Own: 35.5% rent · 64.5% own
• Severe rent burden: 861.0

Population outlook (Madison County) Hauer SSP2

• Today (2025): 35,536 people
• By 2030: 35,518 · -0.1%
• By 2040: 35,170 · -1.0%
• By 2050: 34,606 · -2.6%
• By 2075: 34,522 · -2.9%
• By 2100: 34,307 · -3.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Hispanic / Latino 14% Two or more races 9% Native American 1% Black 1%
• Hispanic origin (detail): Mexican 11% Cuban 1%
• Common ancestry: Portuguese 2% Romanian 1% Lithuanian 1%
• Foreign-born: 6% · Canada
• Languages at home: 90% English-only · Spanish 9%

Political lean MEDSL · Madison

• 2024 margin: Solid R (+56.0) · D 21.4% · R 77.4% · Other 1.2%
• 2008→2024 swing: -16.8pp toward R · 2008: -39.2pp · 2024: -56.0pp
• All cycles: 2024: R+56.0 2020: R+53.5 2016: R+56.3 2012: R+48.1 2008: R+39.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -172.61%
• Current HPI: 260.5574
• Rent YoY: ▲ 3.31%
• Metro: Norfolk, NE
• 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

+121.4% since first listed

7 events — show timeline

• 2026-05-12 Price Changed $174,900 NNEMLS
• 2026-05-01 Price Changed $179,900 NNEMLS
• 2026-02-25 Listed $185,000 NNEMLS
• 2019-04-12 Sold (Public Records) $115,000 Public Records
• 2019-04-11 Sold (MLS) $115,000 NNEMLS
• 2019-02-19 Listed $115,000 NNEMLS
• 2015-07-22 Sold (Public Records) $79,000 Public Records

Property tax history

+3.4%/yr

Latest (2025): $1,545 · +0.4% YoY. Source: county tax records.