746 E 6th St

Minden, NE 68959

$125,000C

2 bd · 2.0 ba · 1,148 sqft · Built 1896 · SingleFamily · Active · 120 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $987/mo
• Mortgage (P&I): −$656
• Tax + insurance: −$136
• HOA: −$0
• Vac / Maint / Mgmt: −$207
• Net cashflow: $-12/mo
• Annual: $-141/yr
• Cap rate: 6.18%
• Cash-on-cash: -0.40%
• DSCR: 0.98
• 1% rule: 0.79%
• Cash to close: $35,000

Investor read

• This is a 2-bed/2.0-bath single-family listed at $125k.
• At list price, monthly cash flow is $-12 ($-141/yr) — negative.
• To cash-flow at today's rent, offer at most $123k (1.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $99k (21.1% below list).
• It's been on market 120 days — a 9% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $99k (21.1% below list) — sets the bar for 1% rule.
• In year one you build about $13k of equity ($864 loan paydown + $12k appreciation (10.0% local appreciation)).
• Location reads 74/100 on livability (#132 in NE, #4,958 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Minden Public Schools (town): math 53% / reading 51% proficiency, ranked #57 of 111 in NE (top 51%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: built in 1896 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 17 active listings in the ZIP; 10 units permitted in Kearney County in 2024 (0 in 5+ unit buildings).
• Kearney County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Current owner paid $29k; list at $125k implies a 331% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 120 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
• Built in 1896 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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.