1220 S Quince St

Sidney, NE 69162

$115,000C-

2 bd · 2.0 ba · 1,803 sqft · Built 1925 · SingleFamily · Active · 91 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,017/mo
• Mortgage (P&I): −$603
• Tax + insurance: −$174
• HOA: −$0
• Vac / Maint / Mgmt: −$213
• Net cashflow: $26/mo
• Annual: $311/yr
• Cap rate: 6.56%
• Cash-on-cash: 0.97%
• DSCR: 1.04
• 1% rule: 0.88%
• Cash to close: $32,200

Investor read

• This is a 2-bed/2.0-bath single-family listed at $115k.
• At list price, monthly cash flow is $26 ($311/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 $102k (11.6% below list).
• It's been on market 91 days — a 9% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $102k (11.6% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 78/100 on livability (#56 in NE, #2,669 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A-; Watch: amenities F, commute F.
• Sidney Public Schools (town): math 51% / reading 58% proficiency, ranked #42 of 111 in NE (top 38%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Central Elementary School (223 students, 32% FRL); Sidney Middle School (math 52% / reading 52%, grade C+, #43 of 128 statewide, top 36%, 187 students, 48% FRL); Sidney High School (math 47% / reading 67%, grade C, #70 of 261 statewide, top 30%, 349 students, 43% FRL) — zoned schools average 41% FRL vs 26% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 12 active listings in the ZIP; 10 units permitted in Cheyenne County in 2024 (0 in 5+ unit buildings).
• Cheyenne County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts 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 $75k; list at $115k implies a 53% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 91 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 B-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?
• 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.