409 S Way Ave · Sutton, NE 68979

$85,000

2 bd · 1.0 ba · 875 sqft · SingleFamily public records · 9 Days on market

Built 1880 6,106 sqft lot Est $74k · 16% over

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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
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• Appreciation +7.7/10.0
• Schools +4.9/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.5/15.0

Key facts

• 6,106 sq ft lot
• Garage
• Built 1880

Property features AI

Finance

• Other: Living area reported as 875 square feet
• Financial info: Annual property tax noted

Exterior

• Parking: Attached, covered 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property; Not new / not a model
• Construction: Frame construction; Composition roof; Built in 1880; Other foundation
• Exterior features: Lot up to 1/4 acre (approximately 0.13 acre); Lot dimensions approximately 43 x 140; Lot included in price

Interior

• Bedrooms: Master bedroom on the main floor; Second bedroom on the main floor
• Bathrooms: One full bathroom on the main floor
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: No basement; No fireplaces

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $335 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).

Location & tenants

• Location reads 76/100 on livability (#82 in NE, #3,427 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Sutton Public Schools (rural): math 58% / reading 56% proficiency, ranked #27 of 111 in NE (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Sutton Elementary School (math 52% / reading 57%, grade C, #161 of 502 statewide, top 38%, 240 students, 42% FRL); Sutton Secondary School (math 62% / reading 57%, grade C+, #49 of 261 statewide, top 26%, 180 students, 33% FRL) — zoned schools average 38% FRL vs 22% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 10 active listings in the ZIP; 6 units permitted in Clay County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($588 loan paydown + $5k appreciation (5.4% local appreciation)).
• Clay County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.4% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $32k; list at $85k implies a 166% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $85,000

Questions for the listing agent

1. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.33% ✓
• Cap rate: 11.02%
• Cash-on-cash: 16.87%
• DSCR: 1.75
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $73,500
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
201 N Main Ave	0.35mi	2/1.0	770 (-12%)	4mo	$65,000	$84	60
215 N Main Ave	0.40mi	2/1.0	820 (-6%)	19mo	$20,000	$24	55
508 E Elm St	0.39mi	2/1.0	765 (-13%)	11mo	$67,500	$88	52

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

5.41% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.3%
• Equity multiple: 2.80×
• Total profit: $42,890
• Equity at exit: $50,280

10-year hold

• IRR: 26.8%
• Equity multiple: 5.64×
• Total profit: $110,363
• Equity at exit: $88,575

Cash invested: $23,800 (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 68979

• Home prices YoY: 2.7%
• Active inventory: 10
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,131 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$78 /mo · $936/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$238
• Net cashflow: $335

Break-even live

Break-even rent $708

Max offer price $85,000

Occupancy floor 65%

Sensitivity live

Price	-10% $383	-5% $359	+0% $335	+5% $311	+10% $287
Rent	-10% $245	-5% $290	+0% $335	+5% $379	+10% $424
Rate	-1.0pp $377	-0.5pp $356	base $335	+0.5pp $313	+1.0pp $290

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-17
   status $85,000 Pending 9 DOM
2. 2026-06-17
   days on market $85,000 Active 9 DOM
3. 2026-06-16
   days on market $85,000 Active 8 DOM
4. 2026-06-15
   statusdays on market $85,000 Active 7 DOM
5. 2026-06-13
   days on market $85,000 New 5 DOM
6. 2026-06-12
   days on market $85,000 New 4 DOM
7. 2026-06-09
   listed $85,000 New 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: $936 · $78/mo
• Projected year-2 tax: $1,470 · $123/mo
• Expected delta: +$535/yr (+$45/mo · 57.2%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 16 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: $13,577
• − Mortgage interest: −$4,761
• − Property taxes: −$936
• − Insurance: −$425
• − Repairs & maintenance: −$1,086
• − Management: −$1,086
• − Depreciation: −$2,473
• Taxable income: $2,810
• Est. tax owed @ 24.0%: −$674
• After-tax cash flow: $3,342/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: Sutton Public Schools
• NCES district ID: 3177520
• Math proficiency: 58% ▬ 0.00%
• Reading proficiency: 56% ▲ 5.00%
• Median HH income: $52,543
• Composite: 48.85/100
• National rank: #2085
• State rank: #27 of 111 in NE

Livability — Sutton

• Score: 76/100
• State rank: #82
• US rank: #3427

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sutton, NE
• City population: 1,645
• Population (ZIP): 1,645

Population outlook (Clay County) Hauer SSP2

• Today (2025): 6,057 people
• By 2030: 5,873 · -3.0%
• By 2040: 5,490 · -9.4%
• By 2050: 5,113 · -15.6%
• By 2075: 4,184 · -30.9%
• By 2100: 2,972 · -50.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 7% Two or more races 2% Native American 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 5% Lithuanian 3% Scotch-Irish 2%
• Foreign-born: 1%
• Languages at home: 94% English-only · Spanish 2% German/W. Germanic 2% French/Haitian/Cajun 1%

Political lean MEDSL · Clay

• 2024 margin: Solid R (+63.5) · D 17.4% · R 80.9% · Other 1.7%
• 2008→2024 swing: -17.4pp toward R · 2008: -46.1pp · 2024: -63.5pp
• All cycles: 2024: R+63.5 2020: R+62.1 2016: R+64.0 2012: R+53.2 2008: R+46.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.41%
• Current HPI: 203.4593
• 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

+165.6% since first listed

2 events — show timeline

• 2026-06-08 Listed $85,000 GPRMLS
• 2003-02-19 Sold (Public Records) $32,000 Public Records

Property tax history

+1.7%/yr

Latest (2025): $936 · +9.2% YoY. Source: county tax records.