106 W Church St

Cook, NE 68329

$56,000A-

2 bd · 2.0 ba · 1,012 sqft · Built 1900 · SingleFamily · Active · 123 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $933/mo
• Mortgage (P&I): −$294
• Tax + insurance: −$75
• HOA: −$0
• Vac / Maint / Mgmt: −$196
• Net cashflow: $369/mo
• Annual: $4,425/yr
• Cap rate: 14.20%
• Cash-on-cash: 28.22%
• DSCR: 2.26
• 1% rule: 1.67%
• Cash to close: $15,680

Investor read

• This is a 2-bed/2.0-bath single-family listed at $56k.
• At list price, monthly cash flow is $369 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($933 rent vs $56k).
• It's been on market 123 days — a 12% lower offer ($49k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $49k (12.0% below list) — sets the bar for market timing.
• In year one you build about $799 of equity ($387 loan paydown + $412 appreciation (0.7% local appreciation)).
• Location reads 64/100 on livability (#377 in NE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: employment C-, health & safety C-, schools D+.
• Johnson County Central Public Schools (rural): math 47% / reading 48% proficiency, ranked #73 of 111 in NE (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 2 active listings in the ZIP; 4 units permitted in Johnson County in 2024 (0 in 5+ unit buildings).
• Johnson County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 5 sale attempts since 6y 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 $45k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (0.7% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~3 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 123 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.