406 C Ave

Axtell, NE 68924

$94,900B+

3 bd · 3.0 ba · 2,219 sqft · Built 1906 · SingleFamily · Pending · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,453/mo
• Mortgage (P&I): −$498
• Tax + insurance: −$200
• HOA: −$0
• Vac / Maint / Mgmt: −$305
• Net cashflow: $450/mo
• Annual: $5,399/yr
• Cap rate: 11.98%
• Cash-on-cash: 20.32%
• DSCR: 1.90
• 1% rule: 1.53%
• Cash to close: $26,572

Investor read

• This is a 3-bed/3.0-bath single-family listed at $95k.
• At list price, monthly cash flow is $450 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $5k of equity ($656 loan paydown + $4k appreciation (4.5% local appreciation)).
• Location reads 70/100 on livability (#221 in NE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Axtell Community Schools (rural): math 65% / reading 45% proficiency, ranked #97 of 245 in NE (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 15% free/reduced lunch — higher-income household profile.
• Zoned schools: Axtell Elementary School (math 52% / reading 57%, grade C, #161 of 502 statewide, top 38%, 200 students, 28% FRL); Axtell High School (math 44% / reading 44%, grade F, #146 of 261 statewide, top 67%, 135 students, 31% FRL).
• Watch-outs: built in 1906 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 10 active listings in the ZIP; 10 units permitted in Kearney County in 2024 (0 in 5+ unit buildings).
• Kearney County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (4.5% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Built in 1906 — 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.
• Schools are A-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.