1502 N St Joseph Ave · Hastings, NE 68901

$182,500

2 bd · 1.0 ba · 962 sqft · SingleFamily public records · 4 Days on market

Built 1920 Est $158k · 16% over

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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 +15.5/30.0
• DSCR +4.8/10.0
• Livability +4.0/5.0
• 1% rule +3.7/10.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.4/15.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home! This updated and well maintained 2 bed 3 bath ranch style home features newer windows, updated kitchen, bathrooms, flooring, paint, and more! This home is move-in ready with 2 bedrooms on the main floor including a primary suite with full bath! Nice sized living room leads into the open kitchen/dining area with appliances included! Downstairs you'll find plenty of storage plus another bathroom! Outside features a lovely and recently updated front porch, detached garage and nice sized backyard with alley access! As an added bonus, property also includes a 10x24 shed with wood burning stove, perfect for hobbies, man cave or extra storage! Call today for your personal showing!

Key facts

• Primary suite
• Updated paint
• Updated bathrooms

Tags

• UPDATED KITCHEN
• UPDATED BATHROOMS
• UPDATED FLOORING
• UPDATED PAINT
• PRIMARY SUITE
• OPEN KITCHEN DINING AREA

Property features AI

Exterior

• Parking: Detached 1-car garage
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Natural gas available
• Home design: Single-family residence; Residential property; R1 zoning
• Construction: Frame construction; Wood siding
• Exterior features: Workshop; Shed(s)

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Disposal; Gas water heater
• Bathrooms: 2 main-level bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Eat-in kitchen; Storm windows; Partial basement
• Laundry & utility: Laundry located in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $182k.

Deal economics

• At list price, monthly cash flow is $74 ($884/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 $158k (13.2% below list).
• Recommended offer: $158k (13.2% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 4.4% in Hastings — 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 79/100 on livability (#41 in NE, #2,188 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, amenities D-, commute F.
• Hastings Public Schools (town): math 38% / reading 42% proficiency, ranked #96 of 111 in NE (top 86%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 191 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 217 units permitted in Adams County in 2024 (132 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.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $70k; list at $182k implies a 161% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $158,341 (13.2% below list)

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.87% ✗
• Cap rate: 6.78%
• Cash-on-cash: 1.73%
• DSCR: 1.08
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $157,768
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1237 N Colorado Ave	0.25mi	2/1.0	820 (-15%)	3mo	$134,500	$164	62
1302 Mcdonald Ave	0.38mi	3/2.0 (+1)	1,080 (+12%)	4mo	$158,000	$146	50
1244 N Webster Ave	0.66mi	2/1.0	1,066 (+11%)	4mo	$100,000	$94	48
912 Williams Ave	0.69mi	2/2.0	832 (-14%)	23mo	$194,500	$234	22

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: -13.6%
• Equity multiple: 0.51×
• Total profit: $-24,909
• Equity at exit: $27,211

10-year hold

• IRR: -4.7%
• Equity multiple: 0.69×
• Total profit: $-15,762
• Equity at exit: $15,779

Cash invested: $51,100 (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 68901

• Active inventory: 191
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,583 high
• Mortgage (P&I): −$957
• Tax from tax record: −$144 /mo · $1,730/yr
• Insurance: −$76
• HOA: −$0
• Vacancy / Maint / Mgmt: −$333
• Net cashflow: $74

Break-even live

Break-even rent $1,490

Max offer price $182,500

Occupancy floor 90%

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: $45,625
• Closing costs: $5,475
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2314 Hudson WAY Hastings, NE	1.0–2.0	1.0–2.0	855	$1,850	$2.16	44d	71	0.87mi
2404 Hudson Way Apt 205 Hastings, NE	1.0	1.0	775	$1,475	$1.90	44d	1	0.88mi
2404 Hudson Way Apt 206 Hastings, NE	1.0	1.0	716	$1,395	$1.95	44d	1	0.88mi
2404 Hudson Way Apt 106 Hastings, NE	2.0	2.0	1053	$1,750	$1.66	44d	1	0.88mi
2404 Hudson Way Apt 302 Hastings, NE	2.0	2.0	973	$1,625	$1.67	44d	1	0.88mi
2524 Hudson Way Apt 203 Hastings, NE	1.0	1.0	716	$1,395	$1.95	44d	1	0.90mi
2524 Hudson Way Apt 307 Hastings, NE	2.0	2.0	973	$1,625	$1.67	44d	1	0.90mi
2524 Hudson Way Apt 202 Hastings, NE	2.0	1.0	903	$1,525	$1.69	44d	1	0.90mi
2524 Hudson Way Apt 304 Hastings, NE	1.0	1.0	775	$1,475	$1.90	44d	1	0.90mi
2524 Hudson Way Apt 306 Hastings, NE	1.0	1.0	726	$1,425	$1.96	44d	1	0.90mi
2524 Hudson Way Apt 205 Hastings, NE	2.0	2.0	1051	$1,695	$1.61	44d	1	0.90mi
2524 Hudson Way Apt 301 Hastings, NE	2.0	2.0	1053	$1,750	$1.66	44d	1	0.90mi
2512 Hudson Way Apt 202 Hastings, NE	2.0	2.0	973	$1,625	$1.67	44d	1	0.93mi
2512 Hudson Way Apt 205 Hastings, NE	1.0	1.0	775	$1,475	$1.90	44d	1	0.93mi
2512 Hudson Way Apt 307 Hastings, NE	2.0	1.0	903	$1,525	$1.69	44d	1	0.93mi
2512 Hudson Way Unit 104 Hastings, NE	1.0	1.0	716	$1,395	$1.95	44d	1	0.93mi
2512 Hudson Way Apt 303 Hastings, NE	1.0	1.0	726	$1,425	$1.96	44d	1	0.93mi
2512 Hudson Way Apt 308 Hastings, NE	2.0	2.0	1053	$1,695	$1.61	44d	1	0.93mi
2512 Hudson Way Unit 208 Hastings, NE	2.0	2.0	1053	$1,750	$1.66	44d	1	0.93mi

Listing history 5 events

1. 2026-06-02
   status $182,500 Pending 4 DOM
2. 2026-06-01
   days on market $182,500 Active 4 DOM
3. 2026-05-31
   days on market $182,500 Active 3 DOM
4. 2026-05-26
   listed $182,500 Active
5. 2013-05-28
   soldstatus $70,000

ⓘ 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: $1,730 · $144/mo
• Projected year-2 tax: $3,157 · $263/mo
• Expected delta: +$1,428/yr (+$119/mo · 82.5%)

ⓘ 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 ≥102°F today · 17 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: $19,001
• − Mortgage interest: −$10,223
• − Property taxes: −$1,730
• − Insurance: −$912
• − Repairs & maintenance: −$1,520
• − Management: −$1,520
• − Depreciation: −$5,309
• Taxable loss: −$2,213
• Est. tax savings @ 24.0%: +$531
• After-tax cash flow: $1,415/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: Hastings Public Schools
• NCES district ID: 3171580
• Math proficiency: 38% ▼ -8.00%
• Reading proficiency: 42% ▼ -4.00%
• Median HH income: $42,942
• Composite: 33.81/100
• National rank: #5363
• State rank: #96 of 111 in NE

Livability — Hastings

• Score: 79/100
• State rank: #41
• US rank: #2188

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hastings, NE
• City population: 26,208
• Population (ZIP): 26,208

Population outlook (Adams County) Hauer SSP2

• Today (2025): 31,965 people
• By 2030: 32,079 · +0.4%
• By 2040: 31,999 · +0.1%
• By 2050: 31,586 · -1.2%
• By 2075: 30,856 · -3.5%
• By 2100: 29,948 · -6.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 14% Two or more races 8% Black 1% Asian 1%
• Hispanic origin (detail): Mexican 9% Cuban 1%
• Common ancestry: Lithuanian 2% Romanian 2% Italian 2%
• Foreign-born: 7% · Canada, Vietnam
• Languages at home: 89% English-only · Spanish 9% Vietnamese 1%

Political lean MEDSL · Adams

• 2024 margin: Solid R (+41.6) · D 28.5% · R 70.2% · Other 1.3%
• 2008→2024 swing: -14.6pp toward R · 2008: -27.0pp · 2024: -41.6pp
• All cycles: 2024: R+41.6 2020: R+40.1 2016: R+45.0 2012: R+34.1 2008: R+27.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -255.77%
• Current HPI: 232.0444
• 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

+160.7% since first listed

2 events — show timeline

• 2026-05-26 Listed $182,500 GMNMLS
• 2013-05-28 Sold (Public Records) $70,000 Public Records

Property tax history

+1.6%/yr

Latest (2025): $1,730 · +9.3% YoY. Source: county tax records.