103 Spring St

Dalton, NE 69131

$98,000C+

3 bd · 1.0 ba · 851 sqft · Built 2015 · SingleFamily · Active · 12 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $996/mo
• Mortgage (P&I): −$514
• Tax + insurance: −$92
• HOA: −$0
• Vac / Maint / Mgmt: −$209
• Net cashflow: $181/mo
• Annual: $2,170/yr
• Cap rate: 8.51%
• Cash-on-cash: 7.91%
• DSCR: 1.35
• 1% rule: 1.02%
• Cash to close: $27,440

Investor read

• This is a 3-bed/1.0-bath single-family listed at $98k.
• At list price, monthly cash flow is $181 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($996 rent vs $98k).
• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $4k of equity ($678 loan paydown + $4k appreciation (3.6% local appreciation)).
• Location reads 69/100 on livability (#244 in NE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Leyton Public Schools (rural): math 60% / reading 55% proficiency, ranked #82 of 245 in NE (top 34%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 3 active listings in the ZIP; 10 units permitted in Cheyenne County in 2024 (0 in 5+ unit buildings).
• Cheyenne County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Current owner paid $45k; list at $98k implies a 118% gain — meaningful room to come down on a strong offer.
• At projected returns (3.6% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-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?
• 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.