309 W Franklin St · Morrill, NE 69358

$100,000

3 bd · 2.0 ba · 1,848 sqft · SingleFamily public records · 88 Days on market

Built 1925 7,000 sqft lot $54/sqft · 41% below area Est $142k · 30% under

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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 +22.1/30.0
• ARV discount +15.0/15.0
• DSCR +7.1/10.0
• Appreciation +6.9/10.0
• 1% rule +5.7/10.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• 7,000 sq ft lot
• 2 garage spots
• Built 1925

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $161 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#226 in NE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, amenities F, commute F.
• Morrill Public Schools (rural): math 34% / reading 45% proficiency, ranked #216 of 245 in NE (top 88%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 23 active listings in the ZIP; 33 units permitted in Scotts Bluff County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($691 loan paydown + $4k appreciation (3.8% local appreciation)).
• Scotts Bluff County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (3.8% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 88 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y ago; this cycle's ask has dropped $24k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $70k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $94,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 88 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — 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. 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.
6. 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.
7. 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: 1.07% ✓
• Cap rate: 8.23%
• Cash-on-cash: 6.91%
• DSCR: 1.31
• GRM: 7.8

CMA / ARV

• ARV (median comp): $141,986
• List price: $100,000
• Delta: -29.57%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

3.77% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.9%
• Equity multiple: 1.95×
• Total profit: $26,462
• Equity at exit: $49,358

10-year hold

• IRR: 17.0%
• Equity multiple: 3.67×
• Total profit: $74,886
• Equity at exit: $79,674

Cash invested: $28,000 (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 69358

• Home prices YoY: 1.9%
• Active inventory: 23
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,067 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$116 /mo · $1,387/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$224
• Net cashflow: $161

Break-even live

Break-even rent $863

Max offer price $100,000

Occupancy floor 80%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $100,000 Active 88 DOM
2. 2026-06-17
   days on market $100,000 Active 87 DOM
3. 2026-06-16
   days on market $100,000 Active 86 DOM
4. 2026-06-15
   days on market $100,000 Active 85 DOM
5. 2026-06-14
   days on market $100,000 Active 83 DOM
6. 2026-06-10
   days on market $100,000 Active 80 DOM
7. 2026-06-09
   days on market $100,000 Active 79 DOM
8. 2026-06-08
   days on market $100,000 Active 78 DOM
9. 2026-06-07
   days on market $100,000 Active 77 DOM
10. 2026-06-05
    days on market $100,000 Active 74 DOM
11. 2026-06-03
    days on market $100,000 Active 73 DOM
12. 2026-06-02
    days on market $100,000 Active 72 DOM
13. 2026-06-01
    days on market $100,000 Active 71 DOM
14. 2026-05-31
    days on market $100,000 Active 70 DOM
15. 2026-05-31
    days on market $100,000 Active 69 DOM
16. 2026-04-23
    price $114,500
17. 2026-04-06
    price $119,500
18. 2026-03-26
    status Active
19. 2026-03-17
    status Pending
20. 2026-03-13
    listed $124,500 Active
21. 2020-07-21
    soldstatus $70,000
22. 2020-07-21
    soldstatus $70,000
23. 2020-05-21
    listed $69,000

ⓘ 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: $1,387 · $116/mo
• Projected year-2 tax: $1,730 · $144/mo
• Expected delta: +$343/yr (+$29/mo · 24.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 18 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: $12,805
• − Mortgage interest: −$5,602
• − Property taxes: −$1,387
• − Insurance: −$500
• − Repairs & maintenance: −$1,024
• − Management: −$1,024
• − Depreciation: −$2,909
• Taxable income: $359
• Est. tax owed @ 24.0%: −$86
• After-tax cash flow: $1,850/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: Morrill Public Schools
• NCES district ID: 3100097
• Math proficiency: 34% ▲ 4.00%
• Reading proficiency: 45% ▲ 5.00%
• Median HH income: $46,812
• Composite: 36.2/100
• National rank: #9447
• State rank: #216 of 245 in NE

Livability — Morrill

• Score: 70/100
• State rank: #226
• US rank: #8088

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Morrill, NE
• Population (ZIP): 1,976

Population outlook (Scotts Bluff County) Hauer SSP2

• Today (2025): 35,740 people
• By 2030: 35,229 · -1.4%
• By 2040: 34,160 · -4.4%
• By 2050: 33,656 · -5.8%
• By 2075: 35,257 · -1.4%
• By 2100: 39,158 · +9.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 11% Two or more races 8% Native American 3%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Iranian 2% Romanian 1% Portuguese 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 4% Other Asian/Pacific 1%

Political lean MEDSL · Scotts Bluff

• 2024 margin: Solid R (+47.7) · D 25.6% · R 73.4% · Other 1.0%
• 2008→2024 swing: -14.0pp toward R · 2008: -33.7pp · 2024: -47.7pp
• All cycles: 2024: R+47.7 2020: R+43.5 2016: R+48.9 2012: R+37.7 2008: R+33.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.77%
• Current HPI: 200.6174
• 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

+65.9% since first listed

8 events — show timeline

• 2026-04-23 Price Changed $114,500 WNBOR
• 2026-04-06 Price Changed $119,500 WNBOR
• 2026-03-26 Relisted — WNBOR
• 2026-03-17 Pending — WNBOR
• 2026-03-13 Listed $124,500 WNBOR
• 2020-07-21 Sold (Public Records) $70,000 Public Records
• 2020-07-21 Sold (MLS) $70,000 WNBOR
• 2020-05-21 Listed $69,000 WNBOR

Property tax history

+3.2%/yr

Latest (2025): $1,387 · -5.8% YoY. Source: county tax records.