307 S Sycamore St

North Platte, NE 69101

$149,900D

2 bd · 1.0 ba · 1,852 sqft · Built 1920 · SingleFamily · Pending · 36 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,087/mo
• Mortgage (P&I): −$786
• Tax + insurance: −$184
• HOA: −$0
• Vac / Maint / Mgmt: −$228
• Net cashflow: $-111/mo
• Annual: $-1,333/yr
• Cap rate: 5.40%
• Cash-on-cash: -3.18%
• DSCR: 0.86
• 1% rule: 0.73%
• Cash to close: $41,972

Investor read

• This is a 2-bed/1.0-bath single-family listed at $150k.
• At list price, monthly cash flow is $-111 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $130k (13.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $109k (27.5% below list).
• It's been on market 36 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $109k (27.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#109 in NE, #4,400 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities D, commute F.
• North Platte Public Schools (town): math 47% / reading 46% proficiency, ranked #77 of 111 in NE (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mcdonald Elementary School (math 62% / reading 67%, grade B, #78 of 502 statewide, top 18%, 234 students, 36% FRL); Adams Middle School (math 43% / reading 43%, grade D-, #70 of 128 statewide, top 54%, 566 students, 48% FRL); North Platte High School (math 31% / reading 31%, grade F, #231 of 261 statewide, top 88%, 1,212 students, 42% FRL).
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 191 active listings in the ZIP; 66 units permitted in Lincoln County in 2024 (0 in 5+ unit buildings).
• Lincoln County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 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.
• Cap rate 5.4% vs local median 2.5% in North Platte — 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.

Questions for listing agent

• 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?
• It's been on market 36 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
• Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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?
• 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.