414 S Bellevue Ave

Hastings, NE 68901

$144,000C

3 bd · 1.0 ba · 1,376 sqft · Built 1890 · SingleFamily · Pending · 31 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,593/mo
• Mortgage (P&I): −$755
• Tax + insurance: −$183
• HOA: −$0
• Vac / Maint / Mgmt: −$335
• Net cashflow: $321/mo
• Annual: $3,849/yr
• Cap rate: 8.97%
• Cash-on-cash: 9.55%
• DSCR: 1.42
• 1% rule: 1.11%
• Cash to close: $40,320

Investor read

• This is a 3-bed/1.0-bath single-family listed at $144k.
• At list price, monthly cash flow is $321 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $144k).
• It's been on market 31 days — a 3% lower offer ($140k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $140k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $996 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 79/100 on livability (#41 in NE, #2,188 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, amenities D-, commute F.
• Hastings Public Schools (town): math 38% / reading 42% proficiency, ranked #96 of 111 in NE (top 86%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 193 active listings in the ZIP; 217 units permitted in Adams County in 2024 (132 in 5+ unit buildings).
• Current owner paid $99k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Cap rate 9.0% vs local median 4.3% in Hastings — 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

• It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1890 — 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.
• 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.