509 1st Corso · Nebraska City, NE 68410

$75,000

1 bd · 1.0 ba · 1,050 sqft · SingleFamily public records · 8 Days on market

Built 1930

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Why this score? — see what drove the B- 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).

• Cash flow +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This house is a block from main street. Features a private wrap around drive, gazebo, back patio, and indoor patio with surrounding windows to look into the back yard in the mornings. It& apos; s a fixer upper as it is old. Just to small for us and buying some thing bigger. Not willing to finance. Has a new hot water heater, central cooling and heating, and new windows. Selling as is. Im a quiet friendly neighborhood. The yards are decent size and very private. Serious Inquiries only. Firm on price but may be willing to negotiate.

Key facts

• Gazebo
• New hot water heater
• Indoor patio

Tags

• PRIVATE WRAP AROUND DRIVE
• GAZEBO
• BACK PATIO
• INDOOR PATIO
• NEW HOT WATER HEATER
• CENTRAL COOLING AND HEATING

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $377 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Cap rate 12.3% vs local median 4.0% in Nebraska City — 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.

Location & tenants

• Location reads 80/100 on livability (#36 in NE, #1,882 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D, commute F.
• Nebraska City Public Schools (town): math 26% / reading 32% proficiency, ranked #107 of 111 in NE (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 33 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); 29 units permitted in Otoe County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Otoe County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $75,000

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.41% ✓
• Cap rate: 12.32%
• Cash-on-cash: 21.53%
• DSCR: 1.96
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $154,350
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
421 1st Corso	0.04mi	2/1.0 (+1)	960 (-9%)	6mo	$143,000	$149	74
219 6th Ter	0.48mi	2/1.0 (+1)	1,020 (-3%)	9mo	$150,000	$147	60
1502 2nd Ave	0.69mi	2/2.0 (+1)	1,029 (-2%)	3mo	$160,000	$155	53
318 N 14 St	0.62mi	2/1.0 (+1)	1,071 (+2%)	14mo	$90,000	$84	51
409 N 14th St	0.66mi	2/1.0 (+1)	979 (-7%)	9mo	$129,000	$132	46
712 4th Corso	0.17mi	2/2.0 (+1)	1,180 (+12%)	24mo	$185,000	$157	42
1315 4th Corso	0.58mi	2/2.0 (+1)	1,193 (+14%)	10mo	$167,500	$140	33

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

Projected returns pro-forma

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

5-year hold

• IRR: 14.1%
• Equity multiple: 1.56×
• Total profit: $11,824
• Equity at exit: $11,183

10-year hold

• IRR: 22.9%
• Equity multiple: 2.96×
• Total profit: $41,118
• Equity at exit: $6,485

Cash invested: $21,000 (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 68410

• Home prices YoY: -31.5%
• Active inventory: 33
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,060 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$36 /mo · $433/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $377

Break-even live

Break-even rent $583

Max offer price $75,000

Occupancy floor 59%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1306 1st Ave Unit 2 Nebraska City, NE	1.0	1.0	850	$1,100	$1.29	1d	1	0.55mi
1116 S 2nd St Unit 207 Nebraska City, NE	2.0	1.0	735	$895	$1.22	10d	1	0.60mi
1413 2nd Ave Unit 2 Nebraska City, NE	2.0	1.0	1100	$1,150	$1.05	19d	1	0.64mi

Listing history 7 events

1. 2026-06-18
   days on market $75,000 Active 8 DOM
2. 2026-06-17
   days on market $75,000 Active 7 DOM
3. 2026-06-16
   days on market $75,000 Active 6 DOM
4. 2026-06-15
   days on market $75,000 Active 5 DOM
5. 2026-06-13
   days on market $75,000 Active 3 DOM
6. 2026-06-12
   remarks 536-char remark
7. 2026-06-12
   listed $75,000 Active 2 DOM

ⓘ 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: $433 · $36/mo
• Projected year-2 tax: $1,298 · $108/mo
• Expected delta: +$865/yr (+$72/mo · 199.7%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 4/10 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: $12,720
• − Mortgage interest: −$4,201
• − Property taxes: −$433
• − Insurance: −$375
• − Repairs & maintenance: −$1,018
• − Management: −$1,018
• − Depreciation: −$2,182
• Taxable income: $3,494
• Est. tax owed @ 24.0%: −$839
• After-tax cash flow: $3,683/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: Nebraska City Public Schools
• NCES district ID: 3174160
• Math proficiency: 26% ▼ -7.00%
• Reading proficiency: 32% ▼ -2.00%
• Median HH income: $46,153
• Composite: 24.99/100
• National rank: #7559
• State rank: #107 of 111 in NE

Livability — Nebraska City

• Score: 80/100
• State rank: #36
• US rank: #1882

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Nebraska City, NE
• Population (ZIP): 8,946

Population outlook (Otoe County) Hauer SSP2

• Today (2025): 16,475 people
• By 2030: 16,627 · +0.9%
• By 2040: 16,911 · +2.6%
• By 2050: 17,186 · +4.3%
• By 2075: 18,549 · +12.6%
• By 2100: 19,590 · +18.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 12% Two or more races 7% Black 1%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Romanian 3% Italian 2% Iranian 1%
• Foreign-born: 11% · Canada, Jamaica
• Languages at home: 89% English-only · Spanish 10%

Political lean MEDSL · Otoe

• 2024 margin: Solid R (+38.9) · D 30.0% · R 68.9% · Other 1.0%
• 2008→2024 swing: -23.1pp toward R · 2008: -15.8pp · 2024: -38.9pp
• All cycles: 2024: R+38.9 2020: R+37.8 2016: R+38.7 2012: R+24.4 2008: R+15.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -87.60%
• Current HPI: 190.5812
• 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

1 event — show timeline

• 2026-06-11 Listed $75,000 FSBO.com

Property tax history

-3.3%/yr

Latest (2025): $433 · +15.4% YoY. Source: county tax records.