231 E Lawn Ct · Kearney, NE 68847

$69,000

3 bd · 2.0 ba · 1,596 sqft · Manufactured · 122 Days on market

Built 1976 Good condition $400/mo HOA · 19% of rent

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Livability +4.2/5.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Step into this adorable and inviting 3-bedroom, 2-bath home that blends classic charm with modern comfort! Originally built in 1976, this property has been beautifully updated throughout, offering the best of both worlds — character and convenience. This home is move-in ready and waiting for its next owner to fall in love. Don't miss out! Schedule your showing today! All potential buyers need to be approved by East Lawn before the purchase of this home.

Key facts

• Built 1976
• Listed 121 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $69k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $800 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $69k).
• Recommended offer: $61k (12.0% below list) — sets the bar for market timing.
• Cap rate 20.2% vs local median 2.5% in Kearney — 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 83/100 on livability (#11 in NE, #858 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute F.
• Kearney Public Schools (town): math 55% / reading 54% proficiency, ranked #43 of 111 in NE (top 39%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 110 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 125 units permitted in Buffalo County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $477 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Buffalo County population projected at +31% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 122 days — a 12% lower offer ($61k) is reasonable based on typical stale-listing flexibility.

Recommended offer $60,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 122 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 3.08% ✓
• Cap rate: 20.20%
• Cash-on-cash: 49.67%
• DSCR: 3.21
• GRM: 2.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 47.5%
• Equity multiple: 3.07×
• Total profit: $40,025
• Equity at exit: $10,288

10-year hold

• IRR: 53.3%
• Equity multiple: 6.26×
• Total profit: $101,559
• Equity at exit: $5,966

Cash invested: $19,320 (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 68847

• Active inventory: 110
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $2,122 high
• Mortgage (P&I): −$362
• Tax est. 1.5%: −$86 /mo · $1,035/yr
• Insurance: −$29
• HOA: −$400
• Vacancy / Maint / Mgmt: −$446
• Net cashflow: $800

Break-even live

Break-even rent $1,110

Max offer price $69,000

Occupancy floor 57%

Sensitivity live

Price	-10% $847	-5% $823	+0% $800	+5% $776	+10% $752
Rent	-10% $632	-5% $716	+0% $800	+5% $883	+10% $967
Rate	-1.0pp $834	-0.5pp $817	base $800	+0.5pp $782	+1.0pp $764

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2112 University Dr Kearney, NE	1.0–2.0	1.0–2.0	874	$1,850	$2.12	44d	3	0.37mi
2125 Normal St Unit 101 Kearney, NE	2.0	2.0	1191	$2,395	$2.01	44d	1	0.38mi
2125 Normal St Unit 201 Kearney, NE	2.0	2.0	1191	$1,899	$1.59	44d	1	0.38mi
2114 University Dr Kearney, NE	2.0	1.0–2.0	1022	$2,545	$2.49	44d	23	0.41mi
2109 Chancellors Ave Kearney, NE	2.0	2.5	1753	$2,495	$1.42	44d	1	0.44mi
2005 Chancellors Ave Kearney, NE	2.0	2.5	1753	$2,495	$1.42	44d	1	0.45mi
2122 Normal St Unit 102 Kearney, NE	2.0	2.0	1191	$2,395	$2.01	44d	1	0.45mi
2122 Normal St Unit 204 Kearney, NE	2.0	2.0	1191	$1,899	$1.59	44d	1	0.45mi
2500 W 24th St Kearney, NE	3.0	1.0	1200	$975	$0.81	44d	1	0.68mi
2119 State ST Apt 201 Kearney, NE	2.0	2.0	1191	$1,899	$1.59	44d	1	1.16mi
1902 W 38th St Kearney, NE	2.0	2.0	1100	$1,100	$1.00	44d	1	1.24mi

HOA detail

• Monthly dues: $400 · $4,800/yr

Listing history 17 events

1. 2026-06-19
   days on market $69,000 Active 122 DOM
2. 2026-06-18
   days on market $69,000 Active 121 DOM
3. 2026-06-17
   days on market $69,000 Active 120 DOM
4. 2026-06-16
   days on market $69,000 Active 119 DOM
5. 2026-06-15
   days on market $69,000 Active 118 DOM
6. 2026-06-14
   days on market $69,000 Active 116 DOM
7. 2026-06-12
   days on market $69,000 Active 115 DOM
8. 2026-06-09
   days on market $69,000 Active 112 DOM
9. 2026-06-08
   days on market $69,000 Active 111 DOM
10. 2026-06-07
    days on market $69,000 Active 110 DOM
11. 2026-06-07
    days on market $69,000 Active 109 DOM
12. 2026-06-04
    days on market $69,000 Active 106 DOM
13. 2026-06-02
    days on market $69,000 Active 105 DOM
14. 2026-06-01
    days on market $69,000 Active 104 DOM
15. 2026-05-31
    days on market $69,000 Active 103 DOM
16. 2026-05-31
    days on market $69,000 Active 102 DOM
17. 2026-02-09
    listed $75,000 Active 465-char remark

    Show marketing remark (465 chars)

    Step into this adorable and inviting 3-bedroom, 2-bath home that blends classic charm with modern comfort! Originally built in 1976, this property has been beautifully updated throughout, offering the best of both worlds — character and convenience. This home is move-in ready and waiting for its next owner to fall in love. Don't miss out! Schedule your showing today! All potential buyers need to be approved by East Lawn before the purchase of this home.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥100°F today · 16 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: $25,465
• − Mortgage interest: −$3,865
• − Property taxes: −$1,035
• − Insurance: −$345
• − Repairs & maintenance: −$2,037
• − Management: −$2,037
• − HOA: −$4,800
• − Depreciation: −$2,007
• Taxable income: $9,338
• Est. tax owed @ 24.0%: −$2,241
• After-tax cash flow: $7,354/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This move-in ready 3-bedroom, 2-bath home offers a blend of classic charm and modern comfort, with updates throughout. Ideal for investors looking to add value with minor improvements.

Value-add opportunities

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics
• Both Updating countertops and backsplash in kitchen — Modernizes the space and adds value
• Both Upgrading lighting fixtures throughout — Improves ambiance and energy efficiency

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics ↑
• Both Updating countertops and backsplash in kitchen — Modernizes the space and adds value ↑
• Both Upgrading lighting fixtures throughout — Improves ambiance and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Kearney Public Schools
• NCES district ID: 3172390
• Math proficiency: 55% ▼ -3.00%
• Reading proficiency: 54% ▼ -4.00%
• Median HH income: $50,913
• Composite: 46.61/100
• National rank: #2415
• State rank: #43 of 111 in NE

Livability — Kearney

• Score: 83/100
• State rank: #11
• US rank: #858

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kearney, NE
• City population: 20,536
• Population (ZIP): 17,911

Population outlook (Buffalo County) Hauer SSP2

• Today (2025): 54,980 people
• By 2030: 58,298 · +6.0%
• By 2040: 64,975 · +18.2%
• By 2050: 72,054 · +31.1%
• By 2075: 90,838 · +65.2%
• By 2100: 106,838 · +94.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 11% Two or more races 4% Asian 3%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Lithuanian 3% Romanian 2% Italian 2%
• Foreign-born: 6% · Canada, China, South Korea
• Languages at home: 91% English-only · Spanish 5% Chinese 2% German/W. Germanic 1%

Political lean MEDSL · Buffalo

• 2024 margin: Solid R (+44.9) · D 26.9% · R 71.8% · Other 1.3%
• 2008→2024 swing: -7.5pp toward R · 2008: -37.5pp · 2024: -44.9pp
• All cycles: 2024: R+44.9 2020: R+43.4 2016: R+47.5 2012: R+42.6 2008: R+37.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -129.96%
• Current HPI: 205.0002
• Rent YoY: —
• Metro: —
• 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

1 event — show timeline

• 2026-02-09 Listed $75,000 GMNMLS