120 4th St

Pilger, NE 68768

$128,900C+

4 bd · 1.5 ba · 1,675 sqft · Built 1900 · SingleFamily · Pending · 173 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,248/mo
• Mortgage (P&I): −$676
• Tax + insurance: −$650
• HOA: −$0
• Vac / Maint / Mgmt: −$262
• Net cashflow: $-341/mo
• Annual: $-4,087/yr
• Cap rate: 7.09%
• Cash-on-cash: 2.86%
• DSCR: 1.13
• 1% rule: 0.97%
• Cash to close: $36,092

Investor read

• This is a 4-bed/1.5-bath single-family listed at $129k.
• At list price, monthly cash flow is $-341 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $69k (46.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $125k (3.2% below list).
• It's been on market 173 days — a 12% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $69k (46.7% below list) — sets the bar for cash-flow.
• In year one you build about $9k of equity ($891 loan paydown + $8k appreciation (6.0% local appreciation)).
• Location reads 64/100 on livability (#369 in NE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety D, amenities F, commute F.
• Wisner-Pilger Public Schools (rural): math 51% / reading 52% proficiency, ranked #61 of 111 in NE (top 55%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Wisner-Pilger Elem School (math 57% / reading 57%, grade C+, #136 of 502 statewide, top 31%, 249 students, 53% FRL); Wisner-Pilger High School (math 42% / reading 47%, grade F, #146 of 261 statewide, top 67%, 188 students, 43% FRL) — zoned schools average 48% FRL vs 29% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: flood insurance adds $427/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 6 active listings in the ZIP; 8 units permitted in Stanton County in 2024 (0 in 5+ unit buildings).
• Stanton County population projected at -29% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 5, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

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 173 days. Have you received any prior offers? Is the seller open to a 47% concession, seller financing, or rate buy-down credit?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.