509 1st Corso

Nebraska City, NE 68410

$75,000B-

1 bd · 1.0 ba · 1,050 sqft · Built 1930 · SingleFamily · Active · 8 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,060/mo
• Mortgage (P&I): −$393
• Tax + insurance: −$67
• HOA: −$0
• Vac / Maint / Mgmt: −$223
• Net cashflow: $377/mo
• Annual: $4,521/yr
• Cap rate: 12.32%
• Cash-on-cash: 21.53%
• DSCR: 1.96
• 1% rule: 1.41%
• Cash to close: $21,000

Investor read

• This is a 1-bed/1.0-bath single-family listed at $75k.
• 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).
• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.
• 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.
• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 33 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 29 units permitted in Otoe County in 2024 (0 in 5+ unit buildings).
• 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.
• 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.

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.
• 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.