105 S Clay St

Eustis, NE 69028

$119,000B

5 bd · 2.0 ba · 2,456 sqft · Built 1924 · SingleFamily · Active · 16 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,393/mo
• Mortgage (P&I): −$624
• Tax + insurance: −$132
• HOA: −$0
• Vac / Maint / Mgmt: −$292
• Net cashflow: $344/mo
• Annual: $4,125/yr
• Cap rate: 9.76%
• Cash-on-cash: 12.38%
• DSCR: 1.55
• 1% rule: 1.17%
• Cash to close: $33,320

Investor read

• This is a 5-bed/2.0-bath single-family listed at $119k.
• At list price, monthly cash flow is $344 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $119k).
• It's been on market 16 days — a 2% lower offer ($117k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $117k (1.5% below list) — sets the bar for market timing.
• In year one you build about $12k of equity ($823 loan paydown + $11k appreciation (9.6% local appreciation)).
• Location reads 75/100 on livability (#100 in NE, #3,948 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Eustis-Farnam Public Schools (rural): math 45% / reading 45% proficiency, ranked #175 of 245 in NE (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 6 active listings in the ZIP; 3 units permitted in Frontier County in 2024 (0 in 5+ unit buildings).
• Frontier County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (9.6% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Built in 1924 — 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.