409 4th St

Silver Creek, NE 68663

$124,000C

3 bd · 1.0 ba · 1,308 sqft · Built 1905 · SingleFamily · Active · 217 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,176/mo
• Mortgage (P&I): −$650
• Tax + insurance: −$214
• HOA: −$0
• Vac / Maint / Mgmt: −$247
• Net cashflow: $65/mo
• Annual: $777/yr
• Cap rate: 8.13%
• Cash-on-cash: 6.57%
• DSCR: 1.29
• 1% rule: 0.95%
• Cash to close: $34,720

Investor read

• This is a 3-bed/1.0-bath single-family listed at $124k.
• At list price, monthly cash flow is $65 ($777/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 $118k (5.2% below list).
• It's been on market 217 days — a 12% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $109k (12.0% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($857 loan paydown + $3k appreciation (2.6% local appreciation)).
• Location reads 66/100 on livability (#305 in NE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, health & safety C-, amenities F.
• Twin River Public Schools (rural): math 45% / reading 48% proficiency, ranked #79 of 111 in NE (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Twin River Elem-Genoa (math 42% / reading 42%, grade F, #319 of 502 statewide, top 68%, 219 students, 38% FRL); Twin River Sr High School (math 47% / reading 52%, grade D, #107 of 261 statewide, top 52%, 190 students, 28% FRL).
• Watch-outs: flood insurance adds $125/mo; built in 1905 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 9 active listings in the ZIP; 43 units permitted in Merrick County in 2024 (0 in 5+ unit buildings).
• Merrick County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (2.6% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 217 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.
• 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.