1320 N Colorado Ave · Hastings, NE 68901

$219,000

12 bd · 9.0 ba · 1,984 sqft · MultiFamily · 4 Days on market

Built 1948 Good condition 6,098 sqft 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

This property is a great opportunity for investors. The triplex has two one-bedroom apartments on the main level, designed for easy living. There is also a larger two-bedroom apartment in the basement. Each unit has a dedicated laundry room with washer-dryer hookups, which makes it convenient for tenants. This setup not only increases rental income but also meets the different needs of residents. This triplex is a smart investment choice. Schedule your showing now!

Key facts

• Washer-dryer hookups
• 6,098 sq ft lot
• Built 1948

Tags

• DEDICATED LAUNDRY ROOM
• WASHER-DRYER HOOKUPS

Property features AI

Exterior

• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Triplex residential income property; Single-story
• Construction: Brick, frame, and wood siding construction
• Exterior features: Composition roof; Lot dimensions approximately 50 x 122; Zoned MFR (multi-family residential)

Interior

• Kitchen: Refrigerator; Cooktop
• Bathrooms: 3 full bathrooms
• Interior features: Refrigerator; Cooktop; Has basement

What this means for you Summary

Snapshot

• This is a 2×1bd/1ba + 1×2bd/1ba units multifamily listed at $219k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive. Per door: $615/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $219k).
• Cap rate 16.4% 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: Longfellow Elementary School (math 37% / reading 47%, grade F, #319 of 502 statewide, top 68%, 307 students, 45% FRL); Hastings Middle School (math 39% / reading 42%, grade F, #82 of 128 statewide, top 65%, 780 students, 52% FRL); Hastings Senior High School (math 36% / reading 45%, grade F, #181 of 261 statewide, top 69%, 1,067 students, 52% FRL) — zoned schools at 50% FRL track the district average.
• 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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $61k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $219,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.94% ✓
• Cap rate: 16.41%
• Cash-on-cash: 36.13%
• DSCR: 2.61
• GRM: 4.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 31.9%
• Equity multiple: 2.34×
• Total profit: $82,176
• Equity at exit: $32,654

10-year hold

• IRR: 39.0%
• Equity multiple: 4.64×
• Total profit: $223,245
• Equity at exit: $18,935

Cash invested: $61,320 (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: 13.1×

Monthly cashflow live

• Estimated rent: $4,253 high
• Mortgage (P&I): −$1,148
• Tax est. 1.5%: −$274 /mo · $3,285/yr
• Insurance: −$91
• HOA: −$0
• Vacancy / Maint / Mgmt: −$893
• Net cashflow: $1,846

Break-even live

Break-even rent $1,916

Max offer price $219,000

Occupancy floor 52%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$2,780
1× unit	2	1	$1,472
Total (3 units)			$4,253

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: $54,750
• Closing costs: $6,570
• Reserves months: —
• Total cash needed: —

Listing history 1 events

1. 2026-05-14
   listed $219,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $51,036
• − Mortgage interest: −$12,267
• − Property taxes: −$3,285
• − Insurance: −$1,095
• − Repairs & maintenance: −$4,083
• − Management: −$4,083
• − Depreciation: −$6,371
• Taxable income: $19,852
• Est. tax owed @ 24.0%: −$4,764
• After-tax cash flow: $17,392/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.

Condition & rehab AI · 13 photos

Good 75/100 Cosmetic rehab

This triplex is in good condition with cosmetic updates needed to enhance its resale and rental value. The home is move-in ready with minor repairs and maintenance required.

Repairs flagged

• Minor Kitchen Countertops — The countertops appear to be in good condition, but may need updating for a more modern look.
• Minor Bathroom Fixtures — The bathroom fixtures appear to be in good condition, but may need updating for a more modern look.
• Minor Landscaping — The landscaping appears to be average, with some overgrown areas that could be trimmed and maintained.

Value-add opportunities

• Resale Kitchen Countertops — Updating the kitchen countertops can significantly enhance the home's resale value by making it more appealing to potential buyers.
• Rental Bathroom Fixtures — Updating the bathroom fixtures can improve the home's rental value by making it more attractive to potential tenants.
• Both Landscaping — Maintaining and improving the landscaping can enhance both the resale and rental value of the home by making it more appealing to potential buyers and tenants.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen Countertops · The countertops appear to be in good condition, but may need updating for a more modern look.	Minor	$500–3,000
Bathroom Fixtures · The bathroom fixtures appear to be in good condition, but may need updating for a more modern look.	Minor	$500–3,000
Landscaping · The landscaping appears to be average, with some overgrown areas that could be trimmed and maintained.	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Resale Kitchen Countertops — Updating the kitchen countertops can significantly enhance the home's resale value by making it more appealing to potential buyers. ↑
• Rental Bathroom Fixtures — Updating the bathroom fixtures can improve the home's rental value by making it more attractive to potential tenants. ↑
• Both Landscaping — Maintaining and improving the landscaping can enhance both the resale and rental value of the home by making it more appealing to potential buyers and tenants. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

• 2026-05-14 Listed $219,000 GIBOR