204-206- 206 1/2 E Ashton Ave · Grand Island, NE 68801

$225,000

6 bd · 3.0 ba · — sqft · MultiFamily · 140 Days on market

Built 1906 Average condition 9,244 sqft lot Est $194k · 16% over ↓ 2% since listing

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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 +27.1/30.0
• DSCR +9.4/10.0
• 1% rule +7.3/10.0
• Livability +4.0/5.0
• Schools +3.1/10.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0
• ARV discount +0.2/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Investment Opportunity! Completely rented with $2,425 monthly rent income. Tenants pay gas and electric. Seller pays water and sewer which averages $219.75/month & Seller pays trash, which is $118.80 every 3 months. One new furnace purchased in 2025. New concrete sidewalks last year.

Key facts

• New furnace
• 9,244 sq ft lot
• Garage

Tags

• NEW FURNACE
• NEW CONCRETE SIDEWALKS

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath multifamily listed at $225k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $637 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $198k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.7% vs local median 3.6% in Grand Island — 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 (#43 in NE, #2,252 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, schools D+, commute F.
• Grand Island Public Schools (urban): math 36% / reading 36% proficiency, ranked #102 of 111 in NE (top 92%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 160 active listings in the ZIP; 246 units permitted in Hall County in 2024 (98 in 5+ unit buildings).
• At $2,775/mo this rent would consume 52% of the median local household income ($64k/yr) (locally 895% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Hall County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $63k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 140 days — a 12% lower offer ($198k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1906 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $198,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 140 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 1906 — 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 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.23% ✓
• Cap rate: 9.69%
• Cash-on-cash: 12.14%
• DSCR: 1.54
• GRM: 6.8

CMA / ARV

• ARV (median comp): $193,539
• List price: $225,000
• Delta: 16.26%
• Verdict: OVERPRICED
• Comps: 18 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 1.7%
• Equity multiple: 1.07×
• Total profit: $4,174
• Equity at exit: $33,548

10-year hold

• IRR: 11.3%
• Equity multiple: 1.89×
• Total profit: $56,073
• Equity at exit: $19,454

Cash invested: $63,000 (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 68801

• Active inventory: 160
• Price-to-rent: 13.5×

Monthly cashflow live

• Estimated rent: $2,775 high
• Mortgage (P&I): −$1,180
• Tax est. 1.5%: −$281 /mo · $3,375/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$583
• Net cashflow: $637

Break-even live

Break-even rent $1,968

Max offer price $225,000

Occupancy floor 72%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,774
Total (2 units)			$2,775

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $225,000 Active 140 DOM
2. 2026-06-18
   days on market $225,000 Active 139 DOM
3. 2026-06-17
   days on market $225,000 Active 138 DOM
4. 2026-06-16
   days on market $225,000 Active 137 DOM
5. 2026-06-15
   days on market $225,000 Active 136 DOM
6. 2026-06-14
   days on market $225,000 Active 134 DOM
7. 2026-06-12
   days on market $225,000 Active 133 DOM
8. 2026-06-09
   days on market $225,000 Active 130 DOM
9. 2026-06-09
   price $225,000 Active 129 DOM
10. 2026-06-08
    days on market $230,000 Active 129 DOM
11. 2026-06-07
    days on market $230,000 Active 128 DOM
12. 2026-06-03
    days on market $230,000 Active 124 DOM
13. 2026-06-02
    days on market $230,000 Active 123 DOM
14. 2026-06-01
    days on market $230,000 Active 122 DOM
15. 2026-05-31
    days on market $230,000 Active 121 DOM
16. 2026-05-30
    days on market $230,000 Active 120 DOM
17. 2026-04-06
    price $230,000 290-char remark

    Show marketing remark (290 chars)

    Investment Opportunity! Completely rented with $2,425 monthly rent income. Tenants pay gas and electric. Seller pays water and sewer which averages $219.75/month & Seller pays trash, which is $118.80 every 3 months. One new furnace purchased in 2025. New concrete sidewalks last year.

18. 2026-01-30
    listed $235,000 Active 290-char remark

    Show marketing remark (290 chars)

    Investment Opportunity! Completely rented with $2,425 monthly rent income. Tenants pay gas and electric. Seller pays water and sewer which averages $219.75/month & Seller pays trash, which is $118.80 every 3 months. One new furnace purchased in 2025. New concrete sidewalks last year.

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°F today · 15 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: $33,300
• − Mortgage interest: −$12,603
• − Property taxes: −$3,375
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,664
• − Management: −$2,664
• − Depreciation: −$6,545
• Taxable income: $4,323
• Est. tax owed @ 24.0%: −$1,038
• After-tax cash flow: $6,610/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 · 5 photos

Average 55/100 Moderate rehab

This multi-family home is in average condition with moderate rehab needed. It has rental income and potential for increased value with exterior painting and landscaping improvements.

Repairs flagged

• Minor Paint — White siding has some discoloration
• Minor Landscaping — Bushes are overgrown

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and resale value
• Both Landscaping — Improves curb appeal and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Paint · White siding has some discoloration	Minor	$500–3,000
Landscaping · Bushes are overgrown	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and resale value ↑
• Both Landscaping — Improves curb appeal and rental value ↑

ⓘ 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: Grand Island Public Schools
• NCES district ID: 3100016
• Math proficiency: 36% ▼ -5.00%
• Reading proficiency: 36% ▼ -5.00%
• Median HH income: $47,021
• Composite: 30.9/100
• National rank: #6117
• State rank: #102 of 111 in NE

Livability — Grand Island

• Score: 79/100
• State rank: #43
• US rank: #2252

Category grades

Amenities B 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: Grand Island, NE
• County: Hall County · 56,358 people
• City population: 56,358
• Metro: Grand Island, NE
• Population (ZIP): 30,824
• Household income: $63,617
• Rent vs Own: 42.6% rent · 57.4% own
• Severe rent burden: 895.0

Population outlook (Hall County) Hauer SSP2

• Today (2025): 68,137 people
• By 2030: 71,543 · +5.0%
• By 2040: 78,843 · +15.7%
• By 2050: 86,765 · +27.3%
• By 2075: 111,764 · +64.0%
• By 2100: 137,991 · +102.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 49% Hispanic / Latino 42% Two or more races 13% Black 5% Native American 1% Asian 1%
• Hispanic origin (detail): Mexican 22% Cuban 4%
• Common ancestry: Romanian 3% Ukrainian 2% Lithuanian 1%
• Foreign-born: 22% · Canada
• Languages at home: 64% English-only · Spanish 32% Arabic 1% Other Asian/Pacific 1%

Political lean MEDSL · Hall

• 2024 margin: Solid R (+37.8) · D 30.5% · R 68.3% · Other 1.2%
• 2008→2024 swing: -13.7pp toward R · 2008: -24.1pp · 2024: -37.8pp
• All cycles: 2024: R+37.8 2020: R+34.8 2016: R+37.5 2012: R+27.6 2008: R+24.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -148.38%
• Current HPI: 230.3861
• Rent YoY: —
• Metro: Grand Island, 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

-2.1% since first listed

2 events — show timeline

• 2026-04-06 Price Changed $230,000 GIBOR
• 2026-01-30 Listed $235,000 GIBOR