105 W 3rd St · Herman, NE 68029

$165,000

3 bd · 1.0 ba · 1,267 sqft · SingleFamily public records · 121 Days on market

Built 1910 6,098 sqft lot $130/sqft · 32% above area Est $203k · 19% under

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +11.0/30.0
• Appreciation +5.8/10.0
• Schools +4.0/10.0
• DSCR +3.2/10.0
• Livability +3.1/5.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

The front porch offers a welcoming entrance to this 3-bedroom, 1-bath gingerbread-style home. Inside, the layout flows smoothly with amain-floor bedroom and main-floor laundry room, delivering practicality and flexibility that's hard to find at this price point. The home islivable as-is, with plenty of room to update finishes over time and truly make it your own. If this one checks the boxes for location, layout, and opportunity, you're in luck. Come take a look and imagine what it could become.

Key facts

• Main-floor bedroom
• Front porch
• 6,098 sq ft lot

Tags

• FRONT PORCH
• MAIN-FLOOR BEDROOM
• MAIN-FLOOR LAUNDRY ROOM

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $-71 ($-848/yr) — negative.
• To cash-flow at today's rent, offer at most $153k (7.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $126k (23.8% below list).
• Recommended offer: $126k (23.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 62/100 on livability (#435 in NE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A-; Watch: schools F, amenities F, commute F.
• Tekamah-Herman Community Schools (rural): math 47% / reading 47% proficiency, ranked #72 of 111 in NE (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 4 active listings in the ZIP; 80 units permitted in Washington County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($1k loan paydown + $3k appreciation (1.6% local appreciation)).
• Washington County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (1.6% appreciation + 3.0% rent growth), your $46k cash investment doubles in ~10 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 121 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 16y ago; this cycle's ask has dropped $9k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $106k; list at $165k implies a 56% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $125,781 (23.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 121 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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?
8. 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.
9. 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.
10. 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: 0.76% ✗
• Cap rate: 5.78%
• Cash-on-cash: -1.84%
• DSCR: 0.92
• GRM: 10.9

CMA / ARV

• ARV (median comp): $203,477
• List price: $165,000
• Delta: -18.91%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
814 West St	0.34mi	3/1.0	1,282 (+1%)	19mo	$200,000	$156	67
811 Marian Rose Ave	0.38mi	3/1.5	1,424 (+12%)	12mo	$199,900	$140	50
812 West St	0.32mi	3/2.0	1,443 (+14%)	14mo	$207,500	$144	47

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.63% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 1.5%
• Equity multiple: 1.08×
• Total profit: $3,720
• Equity at exit: $61,823

10-year hold

• IRR: 5.8%
• Equity multiple: 1.75×
• Total profit: $34,845
• Equity at exit: $86,589

Cash invested: $46,200 (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 68029

• Home prices YoY: 0.6%
• Active inventory: 4
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $1,258 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$130 /mo · $1,564/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $-71

Break-even live

Break-even rent $1,347

Max offer price $152,510

Occupancy floor —

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-06-18
   days on market $165,000 Active 121 DOM
2. 2026-06-17
   days on market $165,000 Active 120 DOM
3. 2026-06-16
   days on market $165,000 Active 119 DOM
4. 2026-06-15
   days on market $165,000 Active 118 DOM
5. 2026-06-13
   days on market $165,000 Active 116 DOM
6. 2026-06-12
   days on market $165,000 Active 115 DOM
7. 2026-06-09
   days on market $165,000 Active 112 DOM
8. 2026-06-08
   days on market $165,000 Active 111 DOM
9. 2026-06-07
   days on market $165,000 Active 110 DOM
10. 2026-06-07
    days on market $165,000 Active 109 DOM
11. 2026-06-04
    days on market $165,000 Active 106 DOM
12. 2026-06-02
    days on market $165,000 Active 105 DOM
13. 2026-06-01
    days on market $165,000 Active 104 DOM
14. 2026-05-31
    days on market $165,000 Active 103 DOM
15. 2026-02-24
    price $165,000 500-char remark

    Show marketing remark (500 chars)

    The front porch offers a welcoming entrance to this 3-bedroom, 1-bath gingerbread-style home. Inside, the layout flows smoothly with amain-floor bedroom and main-floor laundry room, delivering practicality and flexibility that's hard to find at this price point. The home islivable as-is, with plenty of room to update finishes over time and truly make it your own. If this one checks the boxes for location, layout, and opportunity, you're in luck. Come take a look and imagine what it could become.

16. 2026-02-23
    price $165,000 514-char remark

    Show marketing remark (514 chars)

    The front porch offers a welcoming entrance to this 3-bedroom, 1-bath gingerbread-style home. Inside, the layout flows smoothly with a main-floor bedroom and main-floor laundry room, delivering practicality and flexibility that’s hard to find at this price point. The home is livable as-is, with plenty of room to update finishes over time and truly make it your own. If this one checks the boxes for location, layout, and opportunity, you’re in luck. Come take a look and imagine what it could become.

17. 2026-02-16
    listed $174,000 New 514-char remark

    Show marketing remark (514 chars)

    The front porch offers a welcoming entrance to this 3-bedroom, 1-bath gingerbread-style home. Inside, the layout flows smoothly with a main-floor bedroom and main-floor laundry room, delivering practicality and flexibility that’s hard to find at this price point. The home is livable as-is, with plenty of room to update finishes over time and truly make it your own. If this one checks the boxes for location, layout, and opportunity, you’re in luck. Come take a look and imagine what it could become.

18. 2026-02-16
    historical

    Show marketing remark (514 chars)

    The front porch offers a welcoming entrance to this 3-bedroom, 1-bath gingerbread-style home. Inside, the layout flows smoothly with a main-floor bedroom and main-floor laundry room, delivering practicality and flexibility that’s hard to find at this price point. The home is livable as-is, with plenty of room to update finishes over time and truly make it your own. If this one checks the boxes for location, layout, and opportunity, you’re in luck. Come take a look and imagine what it could become.

19. 2026-02-13
    price $174,000
20. 2026-02-03
    price $179,000
21. 2026-01-22
    listed $180,000 New
22. 2026-01-22
    historical
23. 2026-01-02
    listed $174,000 Active 500-char remark

    Show marketing remark (500 chars)

    The front porch offers a welcoming entrance to this 3-bedroom, 1-bath gingerbread-style home. Inside, the layout flows smoothly with amain-floor bedroom and main-floor laundry room, delivering practicality and flexibility that's hard to find at this price point. The home islivable as-is, with plenty of room to update finishes over time and truly make it your own. If this one checks the boxes for location, layout, and opportunity, you're in luck. Come take a look and imagine what it could become.

24. 2025-12-18
    listed $180,000 Active
25. 2025-12-18
    listed $180,000 New
26. 2024-03-25
    soldstatus $106,000
27. 2024-03-22
    soldstatus $107,000 Sold
28. 2024-02-19
    status Pending
29. 2024-02-14
    listed $100,000 New
30. 2011-01-31
    historical
31. 2010-01-05
    listed $59,900

ⓘ 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: $1,564 · $130/mo
• Projected year-2 tax: $2,854 · $238/mo
• Expected delta: +$1,290/yr (+$108/mo · 82.5%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°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: $15,094
• − Mortgage interest: −$9,243
• − Property taxes: −$1,564
• − Insurance: −$825
• − Repairs & maintenance: −$1,207
• − Management: −$1,207
• − Depreciation: −$4,800
• Taxable loss: −$3,753
• Est. tax savings @ 24.0%: +$901
• After-tax cash flow: $52/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: Tekamah-Herman Community Schools
• NCES district ID: 3100071
• Math proficiency: 47% ▬ 0.00%
• Reading proficiency: 47% ▼ -1.00%
• Median HH income: $48,922
• Composite: 40.2/100
• National rank: #3784
• State rank: #72 of 111 in NE

Livability — Herman

• Score: 62/100
• State rank: #435
• US rank: #16661

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Herman, NE
• Population (ZIP): 814

Population outlook (Washington County) Hauer SSP2

• Today (2025): 20,361 people
• By 2030: 20,293 · -0.3%
• By 2040: 19,861 · -2.5%
• By 2050: 19,080 · -6.3%
• By 2075: 17,987 · -11.7%
• By 2100: 16,240 · -20.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (99%)
• Race & ethnicity: White 99%
• Common ancestry: Lithuanian 11% Romanian 2% Portuguese 1%
• Foreign-born: 0% · Canada
• Languages at home: 100% English-only · Spanish 0%

Political lean MEDSL · Washington

• 2024 margin: Solid R (+42.4) · D 28.2% · R 70.6% · Other 1.2%
• 2008→2024 swing: -16.1pp toward R · 2008: -26.3pp · 2024: -42.4pp
• All cycles: 2024: R+42.4 2020: R+40.3 2016: R+45.0 2012: R+37.1 2008: R+26.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.63%
• Current HPI: 300.423
• 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

+175.5% since first listed

17 events — show timeline

• 2026-02-24 Price Changed $165,000 SWIAR
• 2026-02-23 Price Changed $165,000 GPRMLS
• 2026-02-16 Listing Removed — GPRMLS
• 2026-02-16 Listed $174,000 GPRMLS
• 2026-02-13 Price Changed $174,000 GPRMLS
• 2026-02-03 Price Changed $179,000 GPRMLS
• 2026-01-22 Listing Removed — GPRMLS
• 2026-01-22 Listed $180,000 GPRMLS
• 2026-01-02 Listed $174,000 SWIAR
• 2025-12-18 Listed $180,000 GPRMLS
• 2025-12-18 Listed $180,000 SWIAR
• 2024-03-25 Sold (Public Records) $106,000 Public Records
• 2024-03-22 Sold (MLS) $107,000 GPRMLS
• 2024-02-19 Pending — GPRMLS
• 2024-02-14 Listed $100,000 GPRMLS
• 2011-01-31 Listing Removed — GPRMLS
• 2010-01-05 Listed $59,900 GPRMLS

Property tax history

+2.8%/yr

Latest (2025): $1,564 · -0.1% YoY. Source: county tax records.