1803 I Ave · Kearney, NE 68847

$224,999

3 bd · 1.0 ba · 1,056 sqft · SingleFamily public records · 5 Days on market

Built 1920 7,695 sqft lot Est $178k · 26% over

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Why this score? — see what drove the F 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 +13.5/30.0
• Schools +4.7/10.0
• Livability +4.2/5.0
• DSCR +4.1/10.0
• 1% rule +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice starter home or investment property. 2 bedrooms, 1 bath. Oversized garage with a bonus room. Garage has hot & cold water and a floor drain, fully insulated, gas heater (seller has never used heater & makes no warranties.

Key facts

• Home warranty
• Fully remodeled
• New kitchen

Tags

• FULLY REMODELED
• NEW WINDOWS
• NEW KITCHEN
• UPDATED BATHROOM
• MOVE IN READY
• HOME WARRANTY

Property features AI

Exterior

• Parking: Detached 2-car garage
• Security: Security system
• Utilities: Public water; Public sewer; Natural gas available
• Home design: Single-family residential; Residential property
• Construction: Frame construction; Home warranty included
• Exterior features: Metal roof; Lot approximately 57' x 135'; R-2 zoning

Interior

• Kitchen: Dishwasher; Disposal; Gas range; Oven; Microwave; Refrigerator
• Bathrooms: One main-level bathroom
• Heating & cooling: Forced air heating; Central air; Ceiling fans
• Interior features: Pantry; Basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $9 ($108/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 (15.6% below list).
• Recommended offer: $190k (15.6% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 2.5% 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.

Location & tenants

• 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: Bryant Elementary School (math 27% / reading 37%, grade F, #405 of 502 statewide, top 84%, 241 students, 71% 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 51% FRL vs 30% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Buffalo County population projected at +31% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 10y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $120k; list at $225k implies a 87% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $189,900 (15.6% below list)

Questions for the listing agent

1. Built in 1920 — 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 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.84% ✗
• Cap rate: 6.34%
• Cash-on-cash: 0.17%
• DSCR: 1.01
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $178,464
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1204 E 17th St	0.22mi	3/1.0	1,161 (+10%)	3mo	$246,500	$212	71
1721 F Ave	0.21mi	2/2.0 (-1)	988 (-6%)	7mo	$210,000	$213	64
1510 H Ave	0.23mi	2/1.0 (-1)	1,098 (+4%)	17mo	$175,000	$159	64
1207 E 17th St	0.24mi	3/1.0	1,161 (+10%)	12mo	$244,000	$210	62
2112 Ave C Ave	0.55mi	3/1.0	1,106 (+5%)	10mo	$209,000	$189	58
1722 F Ave	0.25mi	3/2.0	1,193 (+13%)	14mo	$207,500	$174	51
721 E 26th St	0.60mi	3/1.0	1,184 (+12%)	8mo	$183,500	$155	45
1612 A Ave	0.62mi	2/1.0 (-1)	948 (-10%)	11mo	$155,000	$164	40
2118 C Ave	0.56mi	2/1.0 (-1)	919 (-13%)	11mo	$155,000	$169	38
1401 F Ave	0.35mi	2/1.0 (-1)	912 (-14%)	22mo	$145,000	$159	38
1419 A Ave	0.62mi	4/1.0 (+1)	1,211 (+15%)	11mo	$160,000	$132	32

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: -16.0%
• Equity multiple: 0.43×
• Total profit: $-35,896
• Equity at exit: $33,548

10-year hold

• IRR: -7.7%
• Equity multiple: 0.51×
• Total profit: $-30,562
• Equity at exit: $19,454

Cash invested: $63,000 (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 68847

• Active inventory: 110
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,899 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$218 /mo · $2,610/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$399
• Net cashflow: $9

Break-even live

Break-even rent $1,888

Max offer price $224,999

Occupancy floor 95%

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2119 State ST Apt 201 Kearney, NE	2.0	2.0	1191	$1,899	$1.59	44d	1	0.84mi

Listing history 4 events

1. 2026-05-21
   listed $224,999 Active
2. 2017-03-08
   soldstatus $120,000 237-char remark

   Show marketing remark (237 chars)

   Nice starter home or investment property. 2 bedrooms, 1 bath. Oversized garage with a bonus room. Garage has hot & cold water and a floor drain, fully insulated, gas heater (seller has never used heater & makes no warranties.

3. 2017-03-08
   soldstatus $120,000

   Show marketing remark (237 chars)

   Nice starter home or investment property. 2 bedrooms, 1 bath. Oversized garage with a bonus room. Garage has hot & cold water and a floor drain, fully insulated, gas heater (seller has never used heater & makes no warranties.

4. 2016-09-08
   listed $129,900 237-char remark

   Show marketing remark (237 chars)

   Nice starter home or investment property. 2 bedrooms, 1 bath. Oversized garage with a bonus room. Garage has hot & cold water and a floor drain, fully insulated, gas heater (seller has never used heater & makes no warranties.

ⓘ 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: $2,610 · $218/mo
• Projected year-2 tax: $3,892 · $324/mo
• Expected delta: +$1,282/yr (+$107/mo · 49.1%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°F today · 16 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: $22,788
• − Mortgage interest: −$12,603
• − Property taxes: −$2,610
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,823
• − Management: −$1,823
• − Depreciation: −$6,545
• Taxable loss: −$3,742
• Est. tax savings @ 24.0%: +$898
• After-tax cash flow: $1,006/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: Kearney Public Schools
• NCES district ID: 3172390
• Math proficiency: 55% ▼ -3.00%
• Reading proficiency: 54% ▼ -4.00%
• Median HH income: $50,913
• Composite: 46.61/100
• National rank: #2415
• State rank: #43 of 111 in NE

Livability — Kearney

• Score: 83/100
• State rank: #11
• US rank: #858

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kearney, NE
• City population: 20,536
• Population (ZIP): 17,911

Population outlook (Buffalo County) Hauer SSP2

• Today (2025): 54,980 people
• By 2030: 58,298 · +6.0%
• By 2040: 64,975 · +18.2%
• By 2050: 72,054 · +31.1%
• By 2075: 90,838 · +65.2%
• By 2100: 106,838 · +94.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 11% Two or more races 4% Asian 3%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Lithuanian 3% Romanian 2% Italian 2%
• Foreign-born: 6% · Canada, China, South Korea
• Languages at home: 91% English-only · Spanish 5% Chinese 2% German/W. Germanic 1%

Political lean MEDSL · Buffalo

• 2024 margin: Solid R (+44.9) · D 26.9% · R 71.8% · Other 1.3%
• 2008→2024 swing: -7.5pp toward R · 2008: -37.5pp · 2024: -44.9pp
• All cycles: 2024: R+44.9 2020: R+43.4 2016: R+47.5 2012: R+42.6 2008: R+37.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -129.96%
• Current HPI: 205.0002
• 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

+73.2% since first listed

4 events — show timeline

• 2026-05-21 Listed $224,999 GMNMLS
• 2017-03-08 Sold (Public Records) $120,000 Public Records
• 2017-03-08 Sold (MLS) $120,000 GMNMLS
• 2016-09-08 Listed $129,900 GMNMLS

Property tax history

+3.8%/yr

Latest (2025): $2,610 · +7.1% YoY. Source: county tax records.