615 1/2 Thomas Dr · Hastings, NE 68901

$50,000

2 bd · 2.0 ba · 980 sqft · SingleFamily public records · 9 Days on market

Built 1978

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Why this score? — see what drove the D- 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 +12.9/30.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• DSCR +3.9/10.0
• Schools +3.4/10.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Open House, Thursday, June 18th, 5-6 PM. 2 bedroom Condo. Tenant occupied. Tenant pays own utilities. Tenants are on a Year Lease ending May 31, 2027. Current rent is $850. per mo. Property is being sold online only! This property is not bank owned, lender owned, or the result of foreclosure proceedings. It is a privately owned property, being offered for sale at public auction at the seller's direction. Auction closing is June 29th, 2026 at 7:00 PM soft close. List price is suggested opening bid only. Final price will be determined via the auction. Final bid is subject to seller confirmation. A 10% Buyer's Premium will be added to the sale price. (For example - If you bid $50,000. the tot

Key facts

• Built 1978
• Listed 9 days

Property features AI

Exterior

• Utilities: Public water; Public sewer; Natural gas available
• Home design: Residential townhome/condo
• Construction: Frame construction
• Exterior features: Lot approximately 3,132 sq ft; Zoned M-1

Interior

• Kitchen: Electric range; Refrigerator
• Bathrooms: 1 main-level bathroom
• Heating & cooling: Forced air heating
• Interior features: Eat-in kitchen; Full basement
• Laundry & utility: Laundry in basement

🔨 Auction listing. The $50,000 list price is a nominal opening bid, not a real ask — every metric below is computed on the estimated value $174,440 (ARV from comps), not the list price.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $-12 ($-141/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Cap rate 6.2% vs local median 4.4% in Hastings — 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 79/100 on livability (#41 in NE, #2,188 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, amenities D-, commute F.
• Hastings Public Schools (town): math 38% / reading 42% proficiency, ranked #96 of 111 in NE (top 86%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Alcott Elementary School (math 27% / reading 37%, grade F, #405 of 502 statewide, top 84%, 249 students, 66% FRL); Hastings Senior High School (math 36% / reading 45%, grade F, #181 of 261 statewide, top 69%, 1,067 students, 52% FRL).
• Market conditions: 191 active listings in the ZIP; 217 units permitted in Adams County in 2024 (132 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $50,000

Questions for the listing agent

1. 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?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.77% ✗
• Cap rate: 6.21%
• Cash-on-cash: -0.29%
• DSCR: 0.99
• GRM: 10.8

CMA / ARV

• ARV (on-the-fly): $174,440
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
734 E 4th St	0.40mi	2/1.0	1,124 (+15%)	12mo	$200,000	$178	43

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: -16.8%
• Equity multiple: 0.40×
• Total profit: $-29,079
• Equity at exit: $26,010

10-year hold

• IRR: -8.8%
• Equity multiple: 0.46×
• Total profit: $-26,539
• Equity at exit: $15,082

Cash invested: $48,843 (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 68901

• Active inventory: 191
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,342 medium
• Mortgage (P&I): −$915
• Tax from tax record: −$85 /mo · $1,016/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $-12

Break-even live

Break-even rent $1,357

Max offer price $172,358

Occupancy floor 96%

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: $43,610
• Closing costs: $5,233
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-18
   days on market $50,000 Active 9 DOM
2. 2026-06-17
   days on market $50,000 Active 8 DOM
3. 2026-06-16
   days on market $50,000 Active 7 DOM
4. 2026-06-15
   days on market $50,000 Active 6 DOM
5. 2026-06-13
   days on market $50,000 Active 4 DOM
6. 2026-06-12
   days on market $50,000 Active 3 DOM
7. 2026-06-09
   remarks 699-char remark
8. 2026-06-09
   listed $50,000 Active 1 DOM

ⓘ 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: $1,016 · $85/mo
• Projected year-2 tax: $1,016 · $85/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 17 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: $16,107
• − Mortgage interest: −$9,771
• − Property taxes: −$1,016
• − Insurance: −$872
• − Repairs & maintenance: −$1,289
• − Management: −$1,289
• − Depreciation: −$5,075
• Taxable loss: −$3,205
• Est. tax savings @ 24.0%: +$769
• After-tax cash flow: $628/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: Hastings Public Schools
• NCES district ID: 3171580
• Math proficiency: 38% ▼ -8.00%
• Reading proficiency: 42% ▼ -4.00%
• Median HH income: $42,942
• Composite: 33.81/100
• National rank: #5363
• State rank: #96 of 111 in NE

Livability — Hastings

• Score: 79/100
• State rank: #41
• US rank: #2188

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hastings, NE
• City population: 26,208
• Population (ZIP): 26,208

Population outlook (Adams County) Hauer SSP2

• Today (2025): 31,965 people
• By 2030: 32,079 · +0.4%
• By 2040: 31,999 · +0.1%
• By 2050: 31,586 · -1.2%
• By 2075: 30,856 · -3.5%
• By 2100: 29,948 · -6.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 14% Two or more races 8% Black 1% Asian 1%
• Hispanic origin (detail): Mexican 9% Cuban 1%
• Common ancestry: Lithuanian 2% Romanian 2% Italian 2%
• Foreign-born: 7% · Canada, Vietnam
• Languages at home: 89% English-only · Spanish 9% Vietnamese 1%

Political lean MEDSL · Adams

• 2024 margin: Solid R (+41.6) · D 28.5% · R 70.2% · Other 1.3%
• 2008→2024 swing: -14.6pp toward R · 2008: -27.0pp · 2024: -41.6pp
• All cycles: 2024: R+41.6 2020: R+40.1 2016: R+45.0 2012: R+34.1 2008: R+27.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -255.77%
• Current HPI: 232.0444
• 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

• 2026-04-10 Listed $50,000 GMNMLS

Property tax history

+3.3%/yr

Latest (2025): $1,016 · +15.5% YoY. Source: county tax records.