3523 18th St

Columbus, NE 68601

$180,000C-

2 bd · 1.0 ba · 1,464 sqft · Built 1930 · SingleFamily · Pending · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,723/mo
• Mortgage (P&I): −$944
• Tax + insurance: −$268
• HOA: −$0
• Vac / Maint / Mgmt: −$362
• Net cashflow: $149/mo
• Annual: $1,794/yr
• Cap rate: 7.29%
• Cash-on-cash: 3.56%
• DSCR: 1.16
• 1% rule: 0.96%
• Cash to close: $50,400

Investor read

• This is a 2-bed/1.0-bath single-family listed at $180k.
• At list price, monthly cash flow is $149 ($2k/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 $172k (4.3% below list).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $172k (4.3% 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 80/100 on livability (#20 in NE, #1,633 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities D-, commute F.
• Columbus Public Schools (town): math 39% / reading 43% proficiency, ranked #93 of 111 in NE (top 84%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: West Park Elementary (math 27% / reading 42%, grade F, #390 of 502 statewide, top 80%, 262 students, 50% FRL).
• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 300 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 98 units permitted in Platte County in 2024 (17 in 5+ unit buildings).
• Platte County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Cap rate 7.3% vs local median 3.3% in Columbus — 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 1930 — 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.
• 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.