2103 C Ave

Kearney, NE 68847

$200,000D+

2 bd · 2.0 ba · 1,080 sqft · Built 1900 · SingleFamily · Active · 31 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,899/mo
• Mortgage (P&I): −$1,049
• Tax + insurance: −$235
• HOA: −$0
• Vac / Maint / Mgmt: −$399
• Net cashflow: $216/mo
• Annual: $2,595/yr
• Cap rate: 7.59%
• Cash-on-cash: 4.63%
• DSCR: 1.21
• 1% rule: 0.95%
• Cash to close: $56,000

Investor read

• This is a 2-bed/2.0-bath single-family listed at $200k.
• At list price, monthly cash flow is $216 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $190k (5.1% below list).
• It's been on market 31 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $190k (5.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 83/100 on livability (#11 in NE, #858 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute F.
• Kearney Public Schools (town): math 55% / reading 54% proficiency, ranked #43 of 111 in NE (top 39%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Emerson Elementary School (math 32% / reading 42%, grade F, #373 of 502 statewide, top 77%, 241 students, 65% FRL); Sunrise Middle School (math 57% / reading 53%, grade B-, #31 of 128 statewide, top 24%, 577 students, 48% FRL); Kearney High School (math 49% / reading 47%, grade D, #138 of 261 statewide, top 53%, 1,629 students, 35% FRL) — zoned schools average 49% FRL vs 30% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 110 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 125 units permitted in Buffalo County in 2024 (0 in 5+ unit buildings).
• Buffalo County population projected at +31% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $160k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Cap rate 7.6% vs local median 2.4% in Kearney — 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.

Questions for listing agent

• It's been on market 31 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-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?
• 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?
• 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.