1213 12th St · Norfolk, NE 68701

$1,400

2 bd · 2.0 ba · 1,068 sqft · SingleFamily public records · 33 Days on market

Built 1945 $1/sqft · 99% below area

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.9/5.0
• Schools +3.8/10.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This cozy 2-bedroom, 1-bath home offers a perfect blend of comfort and convenience. Featuring a spacious bonus room, ideal for a home office, playroom, or extra storage, this home is designed to meet your lifestyle needs. The property comes with a 1-car garage and is fully equipped with all appliances, including a washer and dryer, making moving in a breeze. ?? Features: 2 bedrooms, 1 bathroom Bonus room 1-car garage All appliances included (washer and dryer, too!) Pets considered (with additional terms) Rent is $1,400 per month with an equal deposit required. Don’t miss this opportunity to call this place home! Schedule a viewing today and see everything this lovely home has to offer!

Key facts

• Bonus room
• Garage
• Built 1945

Tags

• BONUS ROOM
• ALL APPLIANCES INCLUDED

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Natural gas available
• Home design: Single family residence; Residential property
• Construction: Frame construction; Vinyl siding
• Exterior features: Chain link fencing; Composition roof

Interior

• Kitchen: Electric range; Microwave
• Bedrooms: 2 main-level bedrooms
• Bathrooms: 1 main-level bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Window coverings; Full finished basement; Smoke detector(s)
• Laundry & utility: Washer; Dryer; Laundry in basement; Gas water heater

🏷️ Possibly a rental listed for sale. The $1,400 price doesn't fit this home's estimated sale value (~$217,054) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $1k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $1k).
• Recommended offer: $1k (3.0% below list) — sets the bar for market timing.
• Cap rate 866.5% vs local median 3.2% in Norfolk — 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.

Location & tenants

• Location reads 78/100 on livability (#54 in NE, #2,611 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities F, commute F.
• Norfolk Public Schools (town): math 44% / reading 46% proficiency, ranked #84 of 111 in NE (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.3%/yr); 230 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 270 units permitted in Madison County in 2024 (196 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $10 of loan paydown is wiped out by about $42 of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.3% rent growth), your $392 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($1k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $1,358 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 91.62% ✓
• Cap rate: 866.52%
• Cash-on-cash: 3072.25%
• DSCR: 137.70
• GRM: 0.1

CMA / ARV

• ARV (median comp): $217,054
• List price: $1,400
• Delta: -99.35%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1202 9th St	0.28mi	3/1.0 (+1)	1,040 (-3%)	1mo	$217,500	$209	73
1111 Queen City Blvd	0.20mi	3/2.0 (+1)	1,172 (+10%)	2mo	$230,000	$196	68
1303 19th St	0.57mi	2/3.0	1,092 (+2%)	1mo	$295,500	$271	65
1314 Galeta Unit A Ave	0.48mi	2/2.0	1,058 (-1%)	16mo	$101,001	$95	63
1004 Maple Ave	0.43mi	2/2.0	988 (-8%)	12mo	$210,000	$213	57
708 Walnut Ave	0.58mi	2/2.0	1,080 (+1%)	23mo	$118,000	$109	52
914 Maple Ave	0.45mi	2/1.0	936 (-12%)	8mo	$214,000	$229	48
500 Elm Ave	0.74mi	2/1.0	1,024 (-4%)	12mo	$166,500	$163	44
810 8th St	0.49mi	3/2.0 (+1)	1,206 (+13%)	9mo	$252,000	$209	43
1407 Elm	0.64mi	2/1.0	1,188 (+11%)	12mo	$214,900	$181	37
1225 Prospect Ave	0.69mi	2/1.0	1,217 (+14%)	23mo	$150,000	$123	22

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

Projected returns pro-forma

-3.0% appreciation · 3.31% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 164.56×
• Total profit: $64,114
• Equity at exit: $209

10-year hold

• IRR: —
• Equity multiple: 357.82×
• Total profit: $139,872
• Equity at exit: $121

Cash invested: $392 (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 68701

• Rents YoY: 3.3%
• Active inventory: 230
• Price-to-rent: 0.1×

Monthly cashflow live

• Estimated rent: $1,283 medium
• Mortgage (P&I): −$7
• Tax est. 1.5%: −$2 /mo · $21/yr
• Insurance: −$1
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $1,004

Break-even live

Break-even rent $12

Max offer price $1,400

Occupancy floor 17%

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: $350
• Closing costs: $42
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
901 Syracuse Ave Norfolk, NE	2.0	1.0	1000	$1,095	$1.09	44d	1	0.35mi
1401 Lakewood Dr Norfolk, NE	2.0–3.0	1.0–1.5	937	$1,120	$1.19	23d	2	0.40mi
1303 Galeta Ave Norfolk, NE	2.0	1.0	900	$1,270	$1.41	19d	1	0.43mi
1208 Koenigstein Ave Norfolk, NE	3.0	1.5	1140	$2,200	$1.93	44d	1	0.82mi

Listing history 24 events

1. 2026-06-15
   days on market $1,400 Active 33 DOM
2. 2026-06-14
   days on market $1,400 Active 31 DOM
3. 2026-06-12
   days on market $1,400 Active 30 DOM
4. 2026-06-09
   days on market $1,400 Active 27 DOM
5. 2026-06-08
   days on market $1,400 Active 26 DOM
6. 2026-06-07
   days on market $1,400 Active 25 DOM
7. 2026-06-05
   days on market $1,400 Active 22 DOM
8. 2026-06-03
   days on market $1,400 Active 21 DOM
9. 2026-06-02
   days on market $1,400 Active 20 DOM
10. 2026-06-01
    days on market $1,400 Active 19 DOM
11. 2026-05-31
    days on market $1,400 Active 18 DOM
12. 2026-05-30
    days on market $1,400 Active 17 DOM
13. 2026-05-12
    listed $1,400 Active 698-char remark
14. 2025-02-22
    soldstatus $1,500 Closed 702-char remark

    Show marketing remark (702 chars)

    This cozy 2-bedroom, 1-bath home offers a perfect blend of comfort and convenience. Featuring a spacious bonus room, ideal for a home office, playroom, or extra storage, this home is designed to meet your lifestyle needs. The property comes with a 1-car garage and is fully equipped with all appliances, including a washer and dryer, making moving in a breeze. ?? Features: 2 bedrooms, 1 bathroom Bonus room 1-car garage All appliances included (washer and dryer, too!) Pets considered (with additional terms) Rent is $1,400 per month with an equal deposit required. Don’t miss this opportunity to call this place home! Schedule a viewing today and see everything this lovely home has to offer!

15. 2025-01-20
    listed $1,400 Active 702-char remark

    Show marketing remark (702 chars)

    This cozy 2-bedroom, 1-bath home offers a perfect blend of comfort and convenience. Featuring a spacious bonus room, ideal for a home office, playroom, or extra storage, this home is designed to meet your lifestyle needs. The property comes with a 1-car garage and is fully equipped with all appliances, including a washer and dryer, making moving in a breeze. ?? Features: 2 bedrooms, 1 bathroom Bonus room 1-car garage All appliances included (washer and dryer, too!) Pets considered (with additional terms) Rent is $1,400 per month with an equal deposit required. Don’t miss this opportunity to call this place home! Schedule a viewing today and see everything this lovely home has to offer!

16. 2024-05-14
    soldstatus $170,000 Closed

    Show marketing remark (211 chars)

    Looking for a place to call home? This adorable 2 bedroom ranch has everything you need, including an attached garage and bonus room in the basement. Situated on a large corner lot, this home is sure to impress!

17. 2024-05-14
    soldstatus $170,000

    Show marketing remark (211 chars)

    Looking for a place to call home? This adorable 2 bedroom ranch has everything you need, including an attached garage and bonus room in the basement. Situated on a large corner lot, this home is sure to impress!

18. 2024-04-08
    status Pending

    Show marketing remark (211 chars)

    Looking for a place to call home? This adorable 2 bedroom ranch has everything you need, including an attached garage and bonus room in the basement. Situated on a large corner lot, this home is sure to impress!

19. 2024-04-04
    listed $169,900 Active

    Show marketing remark (211 chars)

    Looking for a place to call home? This adorable 2 bedroom ranch has everything you need, including an attached garage and bonus room in the basement. Situated on a large corner lot, this home is sure to impress!

20. 2020-10-30
    soldstatus $92,700
21. 2020-10-30
    soldstatus $93,000
22. 2020-08-20
    listed $90,000
23. 2009-06-01
    soldstatus $35,000
24. 2000-02-01
    soldstatus $52,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,392
• − Mortgage interest: −$78
• − Property taxes: −$21
• − Insurance: −$7
• − Repairs & maintenance: −$1,231
• − Management: −$1,231
• − Depreciation: −$41
• Taxable income: $12,782
• Est. tax owed @ 24.0%: −$3,068
• After-tax cash flow: $8,976/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: Norfolk Public Schools
• NCES district ID: 3174430
• Math proficiency: 44% ▼ -7.00%
• Reading proficiency: 46% ▼ -7.00%
• Median HH income: $46,579
• Composite: 38.31/100
• National rank: #4227
• State rank: #84 of 111 in NE

Livability — Norfolk

• Score: 78/100
• State rank: #54
• US rank: #2611

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Norfolk, NE
• County: Madison County · 31,417 people
• City population: 31,417
• Metro: Norfolk, NE
• Population (ZIP): 31,417
• Household income: $62,633
• Rent vs Own: 35.5% rent · 64.5% own
• Severe rent burden: 861.0

Population outlook (Madison County) Hauer SSP2

• Today (2025): 35,536 people
• By 2030: 35,518 · -0.1%
• By 2040: 35,170 · -1.0%
• By 2050: 34,606 · -2.6%
• By 2075: 34,522 · -2.9%
• By 2100: 34,307 · -3.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Hispanic / Latino 14% Two or more races 9% Native American 1% Black 1%
• Hispanic origin (detail): Mexican 11% Cuban 1%
• Common ancestry: Portuguese 2% Romanian 1% Lithuanian 1%
• Foreign-born: 6% · Canada
• Languages at home: 90% English-only · Spanish 9%

Political lean MEDSL · Madison

• 2024 margin: Solid R (+56.0) · D 21.4% · R 77.4% · Other 1.2%
• 2008→2024 swing: -16.8pp toward R · 2008: -39.2pp · 2024: -56.0pp
• All cycles: 2024: R+56.0 2020: R+53.5 2016: R+56.3 2012: R+48.1 2008: R+39.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -172.61%
• Current HPI: 260.5574
• Rent YoY: ▲ 3.31%
• Metro: Norfolk, NE
• 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

-97.3% since first listed

13 events — show timeline

• 2026-06-14 Sold (MLS) $1,400 NNEMLS
• 2026-05-12 Listed $1,400 NNEMLS
• 2025-02-22 Sold (MLS) $1,500 NNEMLS
• 2025-01-20 Listed $1,400 NNEMLS
• 2024-05-14 Sold (Public Records) $170,000 Public Records
• 2024-05-14 Sold (MLS) $170,000 NNEMLS
• 2024-04-08 Pending — NNEMLS
• 2024-04-04 Listed $169,900 NNEMLS
• 2020-10-30 Sold (Public Records) $93,000 Public Records
• 2020-10-30 Sold (MLS) $92,700 NNEMLS
• 2020-08-20 Listed $90,000 NNEMLS
• 2009-06-01 Sold (Public Records) $35,000 Public Records
• 2000-02-01 Sold (Public Records) $52,000 Public Records

Property tax history

+5.6%/yr

Latest (2025): $1,348 · +0.3% YoY. Source: county tax records.