116 S 15th St #1

Wymore, NE 68466

$80,000B-

3 bd · 2.0 ba · 1,040 sqft · Built 1945 · SingleFamily · Pending · 7 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $963/mo
• Mortgage (P&I): −$420
• Tax + insurance: −$133
• HOA: −$0
• Vac / Maint / Mgmt: −$202
• Net cashflow: $208/mo
• Annual: $2,495/yr
• Cap rate: 9.41%
• Cash-on-cash: 11.14%
• DSCR: 1.50
• 1% rule: 1.20%
• Cash to close: $22,400

Investor read

• This is a 3-bed/2.0-bath single-family listed at $80k. Condition is rated fair.
• At list price, monthly cash flow is $208 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($963 rent vs $80k).
• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $553 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#145 in NE) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Southern School District 1 (rural): math 38% / reading 38% proficiency, ranked #224 of 245 in NE (top 91%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Southern Elementary School (math 27% / reading 37%, grade F, #405 of 502 statewide, top 84%, 208 students, 0% FRL); Southern Jr-Sr High School (math 22% / reading 32%, grade F, #240 of 261 statewide, top 92%, 171 students, 0% FRL) — zoned schools average 0% FRL vs 41% district-wide (41 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 8 active listings in the ZIP; 41 units permitted in Gage County in 2024 (14 in 5+ unit buildings).
• Gage County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~10 years — after that, you're playing with house money.

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 1945 — 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.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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)

• Minor: roof — No major damage visible, but may need touch-up or minor repairs.
• Minor: exterior siding — Siding appears weathered and may need repainting or minor repairs.
• Minor: interior walls — Minor cracks or peeling may be present and could benefit from touch-up.
• Minor: bathroom fixtures — Outdated fixtures may need replacement or cleaning.