221 E Main St · Bruning, NE 68322

$134,000

3 bd · 2.0 ba · 1,668 sqft · SingleFamily public records · 75 Days on market

Built 1900 10,019 sqft lot

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Why this score? — see what drove the C- 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 +16.9/30.0
• ARV discount +7.5/15.0
• DSCR +5.2/10.0
• Schools +5.2/10.0
• Appreciation +5.1/10.0
• 1% rule +3.5/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Perfectly situated on Main Street in beautiful Bruning, this charming home offers flexible living space and plenty of character. Step into a spacious living room that invites your design ideas, with a main-floor bedroom and full bathroom just off the living area. The quaint kitchen includes room for a table and daily dining. Also on the main level: laundry and an extra room ideal for sewing, a hobby space, or a home office. Upstairs you’ll find two comfortable bedrooms and abundant storage. A bright bonus room provides the ideal spot for a dedicated office, craft studio, or creative workspace. Outside, enjoy a double-car garage with alley access. A large side yard is perfect for a gar

Key facts

• Double-car garage
• Bright bonus room
• Extra room

Tags

• QUAINT KITCHEN
• EXTRA ROOM
• BRIGHT BONUS ROOM
• DOUBLE-CAR GARAGE
• LARGE SIDE YARD

Property features AI

Exterior

• Parking: Detached garage; Two covered/total parking spaces
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One-and-one-half story; Built in 1900; Living area approximately 1,668 square feet
• Construction: Block foundation
• Exterior features: Patio; Lot up to 1/4 acre (approx. 0.23 acres); Lot dimensions approximately 75 x 134

Interior

• Bedrooms: Primary bedroom on the main floor; Additional bedrooms on the second floor
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Natural gas forced air heating; Central air conditioning
• Interior features: Partially finished basement; No fireplaces

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $134k.

Deal economics

• At list price, monthly cash flow is $88 ($1k/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 $114k (15.1% below list).
• Recommended offer: $114k (15.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 68/100 on livability (#258 in NE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Bruning-Davenport Unified System (rural): math 70% / reading 50% proficiency, ranked #65 of 245 in NE (top 26%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Bruning-Davenport Elem/Bruning (43 students, 33% FRL); Bruning-Davenport Middle Sch (math 54% / reading 54%, grade B-, #32 of 128 statewide, top 28%, 49 students, 37% FRL); Bruning-Davenport High School (51 students, 35% FRL).
• Market conditions: 6 active listings in the ZIP; 3 units permitted in Thayer County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($926 loan paydown + $165 appreciation (0.1% local appreciation)).
• Thayer County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (0.1% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $55k; list at $134k implies a 144% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $113,825 (15.1% below list)

Questions for the listing agent

1. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-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?
6. 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.
7. 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.
8. 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: 0.85% ✗
• Cap rate: 7.08%
• Cash-on-cash: 2.80%
• DSCR: 1.12
• GRM: 9.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.12% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 1.3%
• Equity multiple: 1.06×
• Total profit: $2,390
• Equity at exit: $39,738

10-year hold

• IRR: 6.7%
• Equity multiple: 1.73×
• Total profit: $27,519
• Equity at exit: $48,434

Cash invested: $37,520 (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 68322

• Home prices YoY: 0.1%
• Active inventory: 6
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,138 medium
• Mortgage (P&I): −$703
• Tax from tax record: −$53 /mo · $636/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$239
• Net cashflow: $88

Break-even live

Break-even rent $1,027

Max offer price $134,000

Occupancy floor 87%

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: $33,500
• Closing costs: $4,020
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-21
   status Pending
2. 2026-04-13
   price $134,000
3. 2026-03-05
   listed $145,000 New
4. 2021-02-02
   soldstatus $55,000
5. 2018-04-25
   soldstatus $40,000

ⓘ 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: $636 · $53/mo
• Projected year-2 tax: $2,318 · $193/mo
• Expected delta: +$1,682/yr (+$140/mo · 264.5%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°F today · 16 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: $13,659
• − Mortgage interest: −$7,506
• − Property taxes: −$636
• − Insurance: −$670
• − Repairs & maintenance: −$1,093
• − Management: −$1,093
• − Depreciation: −$3,898
• Taxable loss: −$1,237
• Est. tax savings @ 24.0%: +$297
• After-tax cash flow: $1,349/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: Bruning-Davenport Unified System
• NCES district ID: 3100124
• Math proficiency: 70% ▲ 10.00%
• Reading proficiency: 50% ▬ 0.00%
• Median HH income: $46,647
• Composite: 52.41/100
• National rank: #3418
• State rank: #65 of 245 in NE

Livability — Bruning

• Score: 68/100
• State rank: #258
• US rank: #9269

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bruning, NE
• Population (ZIP): 520

Population outlook (Thayer County) Hauer SSP2

• Today (2025): 4,947 people
• By 2030: 4,983 · +0.7%
• By 2040: 5,052 · +2.1%
• By 2050: 5,224 · +5.6%
• By 2075: 6,247 · +26.3%
• By 2100: 6,520 · +31.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 7% Hispanic / Latino 5% Native American 1%
• Common ancestry: Slovak 2% Italian 1% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Thayer

• 2024 margin: Solid R (+60.8) · D 19.1% · R 79.9% · Other 1.1%
• 2008→2024 swing: -27.4pp toward R · 2008: -33.4pp · 2024: -60.8pp
• All cycles: 2024: R+60.8 2020: R+56.3 2016: R+57.5 2012: R+43.0 2008: R+33.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.12%
• Current HPI: 220.4337
• 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

+235.0% since first listed

5 events — show timeline

• 2026-05-21 Pending — GPRMLS
• 2026-04-13 Price Changed $134,000 GPRMLS
• 2026-03-05 Listed $145,000 GPRMLS
• 2021-02-02 Sold (Public Records) $55,000 Public Records
• 2018-04-25 Sold (Public Records) $40,000 Public Records

Property tax history

+1.9%/yr

Latest (2025): $636 · +14.8% YoY. Source: county tax records.