702 S 15th St · Nebraska City, NE 68410

$74,500

3 bd · 1.0 ba · 1,044 sqft · SingleFamily public records · 5 Days on market

Built 1932 1.70 ac lot

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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
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Any offers should be submitted before 5:00 pm today, May 22. Don't miss this opportunity! Bring your creativity and make this home your own, or add a great property to your portfolio. With more than 1.5 acres, you'll have room to grow! Call for your appointment to see it today.

Key facts

• 1.7 acre lot
• Built 1932
• Listed 5 days

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: Single family residence; Residential property; Built in 1932; One-story entry (main floor living shown)
• Construction: Slab foundation
• Exterior features: Front porch; Lot over 1 up to 5 acres (approximately 1.7 acres); Lot included in price

Interior

• Bedrooms: Master bedroom on the main floor; Second bedroom on the main floor; Third bedroom on the main floor
• Bathrooms: One bathroom on the main floor
• Heating & cooling: Electric baseboard heating
• Interior features: No basement; No fireplaces

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $74k.

Deal economics

• At list price, monthly cash flow is $300 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $74k).
• Cap rate 11.1% vs local median 4.0% in Nebraska City — 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 80/100 on livability (#36 in NE, #1,882 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: commute F.
• Nebraska City Public Schools (town): math 26% / reading 32% proficiency, ranked #107 of 111 in NE (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Nebraska City Northside Elem (394 students, 61% FRL); Nebraska City Middle School (math 29% / reading 31%, grade F, #110 of 128 statewide, top 87%, 326 students, 54% FRL); Nebraska City High School (math 27% / reading 37%, grade F, #228 of 261 statewide, top 88%, 428 students, 48% FRL).
• Market conditions: 33 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 29 units permitted in Otoe County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $515 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Otoe County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1932 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $74,500

Questions for the listing agent

1. Built in 1932 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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.
5. 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.
6. 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: 1.42% ✓
• Cap rate: 11.13%
• Cash-on-cash: 17.28%
• DSCR: 1.77
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $178,524
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1502 2nd Ave	0.56mi	2/2.0 (-1)	1,029 (-1%)	3mo	$160,000	$155	60
318 N 14 St	0.61mi	2/1.0 (-1)	1,071 (+3%)	14mo	$90,000	$84	51
1709 Morgan Dr	0.53mi	2/2.0 (-1)	1,080 (+3%)	12mo	$282,000	$261	50
1315 4th Corso	0.20mi	2/2.0 (-1)	1,193 (+14%)	10mo	$167,500	$140	50
1919 3rd Ave	0.66mi	2/2.0 (-1)	1,096 (+5%)	3mo	$199,000	$182	50
1716 4 Ave	0.70mi	3/1.0	952 (-9%)	4mo	$170,000	$179	49
409 N 14th St	0.64mi	2/1.0 (-1)	979 (-6%)	9mo	$129,000	$132	47
614 2nd Corso	0.67mi	3/1.0	1,138 (+9%)	19mo	$164,500	$145	38
2110 2nd Ave	0.68mi	2/1.5 (-1)	912 (-13%)	5mo	$170,000	$186	36
511 N 17th St	0.72mi	2/1.0 (-1)	898 (-14%)	2mo	$167,500	$187	36
1708 2nd Ave	0.58mi	2/1.0 (-1)	952 (-9%)	21mo	$162,360	$171	36
712 4th Corso	0.59mi	2/2.0 (-1)	1,180 (+13%)	24mo	$185,000	$157	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 8.7%
• Equity multiple: 1.34×
• Total profit: $7,091
• Equity at exit: $11,108

10-year hold

• IRR: 17.9%
• Equity multiple: 2.48×
• Total profit: $30,927
• Equity at exit: $6,441

Cash invested: $20,860 (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 68410

• Home prices YoY: -31.5%
• Active inventory: 33
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,056 medium
• Mortgage (P&I): −$391
• Tax from tax record: −$112 /mo · $1,346/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$222
• Net cashflow: $300

Break-even live

Break-even rent $676

Max offer price $74,500

Occupancy floor 67%

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: $18,625
• Closing costs: $2,235
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1413 2nd Ave Unit 2 Nebraska City, NE	2.0	1.0	1100	$1,150	$1.05	19d	1	0.51mi
1116 S 2nd St Unit 207 Nebraska City, NE	2.0	1.0	735	$895	$1.22	10d	1	0.95mi
1216 S 2nd St Unit 201 Nebraska City, NE	3.0	1.0	892	$995	$1.12	44d	1	0.96mi

Listing history 1 events

1. 2026-05-17
   listed $74,500 New

ⓘ 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: $1,346 · $112/mo
• Projected year-2 tax: $1,346 · $112/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,674
• − Mortgage interest: −$4,173
• − Property taxes: −$1,346
• − Insurance: −$372
• − Repairs & maintenance: −$1,014
• − Management: −$1,014
• − Depreciation: −$2,167
• Taxable income: $2,587
• Est. tax owed @ 24.0%: −$621
• After-tax cash flow: $2,985/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: Nebraska City Public Schools
• NCES district ID: 3174160
• Math proficiency: 26% ▼ -7.00%
• Reading proficiency: 32% ▼ -2.00%
• Median HH income: $46,153
• Composite: 24.99/100
• National rank: #7559
• State rank: #107 of 111 in NE

Livability — Nebraska City

• Score: 80/100
• State rank: #36
• US rank: #1882

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Nebraska City, NE
• Population (ZIP): 8,946

Population outlook (Otoe County) Hauer SSP2

• Today (2025): 16,475 people
• By 2030: 16,627 · +0.9%
• By 2040: 16,911 · +2.6%
• By 2050: 17,186 · +4.3%
• By 2075: 18,549 · +12.6%
• By 2100: 19,590 · +18.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 12% Two or more races 7% Black 1%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Romanian 3% Italian 2% Iranian 1%
• Foreign-born: 11% · Canada, Jamaica
• Languages at home: 89% English-only · Spanish 10%

Political lean MEDSL · Otoe

• 2024 margin: Solid R (+38.9) · D 30.0% · R 68.9% · Other 1.0%
• 2008→2024 swing: -23.1pp toward R · 2008: -15.8pp · 2024: -38.9pp
• All cycles: 2024: R+38.9 2020: R+37.8 2016: R+38.7 2012: R+24.4 2008: R+15.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -87.60%
• Current HPI: 190.5812
• Rent YoY: —
• Metro: —
• 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

1 event — show timeline

• 2026-05-17 Listed $74,500 GPRMLS

Property tax history

-4.3%/yr

Latest (2014): $1,346 · -4.3% YoY. Source: county tax records.