209 E Main St · Cedar Bluffs, NE 68015

$69,900

3 bd · 1.0 ba · 1,218 sqft · SingleFamily public records · 18 Days on market

Built 1908 0.42 ac lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.8/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Flippers get ready! Cedar Bluffs has the market to flip a home. 1.5 story home with 4 bedrooms, 1 bathroom, 2 car attached garage. The lot is nice and in a good location. Close to the school and parks. Home is being Sold As-Is.

Key facts

• 0.42 acre lot
• 2 garage spots
• Built 1908

Property features AI

Exterior

• Parking: Attached garage with 2 covered spaces
• Utilities: Public water; Public sewer; Electricity available
• Home design: Single-family residence; One and one-half story; Built in 1908; Not new / not a model
• Construction: Wood siding exterior; Brick/mortar foundation; Shingle roof (not explicitly listed — roof type not provided)
• Exterior features: City lot; Lot over 1/4 up to 1/2 acre (approximately 0.41 acre); Sprinkler system

Interior

• Bedrooms: Primary bedroom on the main floor; Second bedroom on the main floor; Third and fourth bedrooms on the second floor
• Flooring: Luxury vinyl plank flooring
• Bathrooms: One bathroom (main level)
• Heating & cooling: Electric heating
• Interior features: Unfinished basement (about 600 finished area not included); No fireplaces; Sprinkler system

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $452 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $69k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#386 in NE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: amenities F, commute F, health & safety F.
• Cedar Bluffs Public Schools (rural): math 42% / reading 46% proficiency, ranked #85 of 111 in NE (top 77%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Cedar Bluffs Elementary School (math 52% / reading 52%, grade C-, #200 of 502 statewide, top 46%, 298 students, 45% FRL); Cedar Bluffs Secondary School (math 27% / reading 42%, grade F, #208 of 261 statewide, top 86%, 171 students, 44% FRL).
• Market conditions: 7 active listings in the ZIP; 138 units permitted in Saunders County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($483 loan paydown + $7k appreciation (10.0% local appreciation)).
• Saunders County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $45k; list at $70k implies a 55% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1908 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $68,851 (1.5% below list)

Questions for the listing agent

1. Built in 1908 — 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 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?
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: 1.72% ✓
• Cap rate: 14.06%
• Cash-on-cash: 27.73%
• DSCR: 2.23
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $220,458
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
103 W Elm St	0.28mi	2/1.0 (-1)	1,225 (+1%)	3mo	$79,500	$65	78
104 W Oak	0.28mi	3/1.0	1,246 (+2%)	23mo	$225,000	$181	64
303 W Pine St	0.49mi	3/2.0	1,351 (+11%)	13mo	$315,000	$233	44
317 W Elm St	0.54mi	3/1.0	1,056 (-13%)	20mo	$55,000	$52	36

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 45.3%
• Equity multiple: 4.42×
• Total profit: $66,899
• Equity at exit: $62,971

10-year hold

• IRR: 39.3%
• Equity multiple: 9.91×
• Total profit: $174,413
• Equity at exit: $135,800

Cash invested: $19,572 (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 68015

• Home prices YoY: 5.2%
• Active inventory: 7
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,204 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$103 /mo · $1,238/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $452

Break-even live

Break-even rent $632

Max offer price $69,900

Occupancy floor 57%

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-19
   days on market $69,900 Active 18 DOM
2. 2026-06-18
   days on market $69,900 Active 17 DOM
3. 2026-06-17
   days on market $69,900 Active 16 DOM
4. 2026-06-16
   days on market $69,900 Active 15 DOM
5. 2026-06-15
   days on market $69,900 Active 14 DOM
6. 2026-06-14
   days on market $69,900 Active 12 DOM
7. 2026-06-12
   days on market $69,900 Active 11 DOM
8. 2026-06-09
   days on market $69,900 Active 8 DOM
9. 2026-06-08
   days on market $69,900 Active 7 DOM
10. 2026-06-07
    statusdays on market $69,900 Active 6 DOM
11. 2026-06-05
    days on market $69,900 New 3 DOM
12. 2026-06-01
    remarks 227-char remark
13. 2026-06-01
    listed $69,900 New 1 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: $1,238 · $103/mo
• Projected year-2 tax: $1,238 · $103/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥103°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: $14,447
• − Mortgage interest: −$3,915
• − Property taxes: −$1,238
• − Insurance: −$350
• − Repairs & maintenance: −$1,156
• − Management: −$1,156
• − Depreciation: −$2,033
• Taxable income: $4,599
• Est. tax owed @ 24.0%: −$1,104
• After-tax cash flow: $4,323/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: Cedar Bluffs Public Schools
• NCES district ID: 3104870
• Math proficiency: 42% ▼ -8.00%
• Reading proficiency: 46% ▲ 1.00%
• Median HH income: $52,878
• Composite: 38.07/100
• National rank: #4282
• State rank: #85 of 111 in NE

Livability — Cedar Bluffs

• Score: 64/100
• State rank: #386
• US rank: #14372

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cedar Bluffs, NE
• Population (ZIP): 1,232

Population outlook (Saunders County) Hauer SSP2

• Today (2025): 21,261 people
• By 2030: 21,249 · -0.1%
• By 2040: 20,927 · -1.6%
• By 2050: 20,041 · -5.7%
• By 2075: 18,386 · -13.5%
• By 2100: 15,066 · -29.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Black 3% Two or more races 2%
• Common ancestry: Romanian 3% Lithuanian 2% Scottish 1%
• Foreign-born: 1%
• Languages at home: 97% English-only · Other Asian/Pacific 1% Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Saunders

• 2024 margin: Solid R (+46.4) · D 26.2% · R 72.6% · Other 1.1%
• 2008→2024 swing: -22.7pp toward R · 2008: -23.7pp · 2024: -46.4pp
• All cycles: 2024: R+46.4 2020: R+45.2 2016: R+47.0 2012: R+33.8 2008: R+23.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 14.77%
• Current HPI: 297.8995
• 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

+55.3% since first listed

2 events — show timeline

• 2026-06-01 Listed $69,900 GPRMLS
• 2017-09-01 Sold (Public Records) $45,000 Public Records

Property tax history

-3.5%/yr

Latest (2019): $1,238 · +0.4% YoY. Source: county tax records.