445 N L St

Fremont, NE 68025

$169,000D+

3 bd · 1.0 ba · 1,636 sqft · Built 1947 · SingleFamily · Active · 18 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,431/mo
• Mortgage (P&I): −$886
• Tax + insurance: −$223
• HOA: −$0
• Vac / Maint / Mgmt: −$300
• Net cashflow: $21/mo
• Annual: $250/yr
• Cap rate: 6.44%
• Cash-on-cash: 0.53%
• DSCR: 1.02
• 1% rule: 0.85%
• Cash to close: $47,320

Investor read

• This is a 3-bed/1.0-bath single-family listed at $169k.
• At list price, monthly cash flow is $21 ($250/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 $143k (15.3% below list).
• It's been on market 18 days — a 2% lower offer ($166k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $143k (15.3% below list) — sets the bar for 1% rule.
• 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.
• Location reads 76/100 on livability (#92 in NE, #3,751 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, commute F.
• Fremont Public Schools (town): math 34% / reading 36% proficiency, ranked #103 of 111 in NE (top 93%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Washington Elementary School (math 22% / reading 22%, grade F, #459 of 502 statewide, top 93%, 385 students, 81% FRL); Fremont Middle School (math 38% / reading 40%, grade F, #95 of 128 statewide, top 76%, 744 students, 66% FRL); Fremont Senior High School (math 42% / reading 48%, grade D-, #145 of 261 statewide, top 55%, 1,633 students, 55% FRL) — zoned schools average 67% FRL vs 46% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents soft (-2.1%/yr); 238 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 82 units permitted in Dodge County in 2024 (0 in 5+ unit buildings).
• 8 sale attempts since 16y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $114k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Cap rate 6.4% vs local median 3.3% in Fremont — 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.

Questions for listing agent

• Built in 1947 — 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.
• 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?
• 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.