114 Cedar Ave · Norfolk, NE 68701

$155,000

3 bd · 2.0 ba · 1,576 sqft · SingleFamily public records · 566 Days on market

Built 1915 $98/sqft · 40% below area Est $174k · 11% under ↓ 16% since listing

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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
• ARV discount +12.4/15.0
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• 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

Nestled at 114 W Cedar, this affordable home features two bedrooms upstairs primary bedroom on the main floor and a single bath with main floor laundry. wood deck, ample outdoor space and recently replaced driveway.

Key facts

• Ample outdoor space
• Wood deck
• Built 1915

Tags

• WOOD DECK
• AMPLE OUTDOOR SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $755 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $136k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.1% 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; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 270 units permitted in Madison County in 2024 (196 in 5+ unit buildings).
• This rent runs 42% of the median local income ($63k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.3% rent growth), your $43k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 566 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $30k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $136,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 566 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1915 — 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: 1.40% ✓
• Cap rate: 12.14%
• Cash-on-cash: 20.89%
• DSCR: 1.93
• GRM: 5.9

CMA / ARV

• ARV (median comp): $174,000
• List price: $155,000
• Delta: -10.92%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
601 Oak St	0.25mi	4/2.0 (+1)	1,560 (-1%)	9mo	$253,000	$162	74
200 Cedar Ave	0.03mi	3/1.0	1,754 (+11%)	9mo	$170,000	$97	68
203 Maple Ave	0.17mi	4/2.0 (+1)	1,728 (+10%)	16mo	$232,500	$135	57
105 Klug Ave	0.34mi	3/1.0	1,661 (+5%)	20mo	$179,000	$108	55
1007 N 8th St	0.51mi	3/2.0	1,472 (-7%)	14mo	$206,000	$140	53
703 Spruce Ave	0.47mi	4/1.0 (+1)	1,591 (+1%)	19mo	$210,000	$132	51
906 Harrison Ave	0.69mi	3/1.0	1,684 (+7%)	2mo	$215,000	$128	50
703 Hespe Dr	0.61mi	2/2.0 (-1)	1,476 (-6%)	8mo	$253,000	$171	50
1010 7th St	0.42mi	3/2.0	1,440 (-9%)	23mo	$262,500	$182	46
401 Hespe Dr	0.63mi	2/2.0 (-1)	1,431 (-9%)	13mo	$235,000	$164	39
904 Larayne Ln	0.74mi	2/2.0 (-1)	1,399 (-11%)	8mo	$235,000	$168	36
1200 Queen City Blvd	0.64mi	2/2.0 (-1)	1,731 (+10%)	18mo	$172,500	$100	34

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: 13.6%
• Equity multiple: 1.54×
• Total profit: $23,641
• Equity at exit: $23,111

10-year hold

• IRR: 22.6%
• Equity multiple: 2.96×
• Total profit: $85,204
• Equity at exit: $13,402

Cash invested: $43,400 (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: 5.9×

Monthly cashflow live

• Estimated rent: $2,172 medium
• Mortgage (P&I): −$813
• Tax from tax record: −$83 /mo · $1,000/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$456
• Net cashflow: $755

Break-even live

Break-even rent $1,216

Max offer price $155,000

Occupancy floor 60%

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1401 Lakewood Dr Norfolk, NE	2.0–3.0	1.0–1.5	937	$1,345	$1.43	23d	2	0.63mi
1007 E Maple Ave Norfolk, NE	3.0	2.0	2050	$3,595	$1.75	23d	1	0.76mi
1208 Koenigstein Ave Norfolk, NE	3.0	1.5	1140	$2,200	$1.93	43d	1	0.99mi

Listing history 21 events

1. 2026-06-19
   days on market $155,000 Active 566 DOM
2. 2026-06-18
   days on market $155,000 Active 565 DOM
3. 2026-06-17
   days on market $155,000 Active 564 DOM
4. 2026-06-16
   days on market $155,000 Active 563 DOM
5. 2026-06-15
   days on market $155,000 Active 562 DOM
6. 2026-06-14
   days on market $155,000 Active 560 DOM
7. 2026-06-12
   days on market $155,000 Active 559 DOM
8. 2026-06-09
   days on market $155,000 Active 556 DOM
9. 2026-06-08
   days on market $155,000 Active 555 DOM
10. 2026-06-07
    days on market $155,000 Active 554 DOM
11. 2026-06-05
    days on market $155,000 Active 551 DOM
12. 2026-06-03
    days on market $155,000 Active 550 DOM
13. 2026-06-02
    days on market $155,000 Active 549 DOM
14. 2026-06-01
    days on market $155,000 Active 548 DOM
15. 2026-05-31
    days on market $155,000 Active 547 DOM
16. 2026-05-30
    days on market $155,000 Active 546 DOM
17. 2025-08-22
    status Active 215-char remark

    Show marketing remark (215 chars)

    Nestled at 114 W Cedar, this affordable home features two bedrooms upstairs primary bedroom on the main floor and a single bath with main floor laundry. wood deck, ample outdoor space and recently replaced driveway.

18. 2025-08-01
    historical 215-char remark

    Show marketing remark (215 chars)

    Nestled at 114 W Cedar, this affordable home features two bedrooms upstairs primary bedroom on the main floor and a single bath with main floor laundry. wood deck, ample outdoor space and recently replaced driveway.

19. 2025-07-24
    price $155,000 215-char remark

    Show marketing remark (215 chars)

    Nestled at 114 W Cedar, this affordable home features two bedrooms upstairs primary bedroom on the main floor and a single bath with main floor laundry. wood deck, ample outdoor space and recently replaced driveway.

20. 2025-04-29
    price $165,000 215-char remark

    Show marketing remark (215 chars)

    Nestled at 114 W Cedar, this affordable home features two bedrooms upstairs primary bedroom on the main floor and a single bath with main floor laundry. wood deck, ample outdoor space and recently replaced driveway.

21. 2024-11-08
    listed $185,000 Active 215-char remark

    Show marketing remark (215 chars)

    Nestled at 114 W Cedar, this affordable home features two bedrooms upstairs primary bedroom on the main floor and a single bath with main floor laundry. wood deck, ample outdoor space and recently replaced driveway.

ⓘ 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: $1,000 · $83/mo
• Projected year-2 tax: $2,682 · $223/mo
• Expected delta: +$1,681/yr (+$140/mo · 168.1%)

ⓘ 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 3/10 Moderate
• 🌡 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: $26,069
• − Mortgage interest: −$8,682
• − Property taxes: −$1,000
• − Insurance: −$775
• − Repairs & maintenance: −$2,086
• − Management: −$2,086
• − Depreciation: −$4,509
• Taxable income: $6,931
• Est. tax owed @ 24.0%: −$1,663
• After-tax cash flow: $7,402/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

-16.2% since first listed

5 events — show timeline

• 2025-08-22 Relisted — NNEMLS
• 2025-08-01 Delisted — NNEMLS
• 2025-07-24 Price Changed $155,000 NNEMLS
• 2025-04-29 Price Changed $165,000 NNEMLS
• 2024-11-08 Listed $185,000 NNEMLS

Property tax history

+0.7%/yr

Latest (2025): $1,000 · +3.6% YoY. Source: county tax records.