206 1st St

Platte Center, NE 68653

$99,500B-

3 bd · 1.0 ba · 925 sqft · Built 1895 · SingleFamily · Pending · 31 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,090/mo
• Mortgage (P&I): −$522
• Tax + insurance: −$120
• HOA: −$0
• Vac / Maint / Mgmt: −$229
• Net cashflow: $219/mo
• Annual: $2,629/yr
• Cap rate: 8.93%
• Cash-on-cash: 9.44%
• DSCR: 1.42
• 1% rule: 1.10%
• Cash to close: $27,860

Investor read

• This is a 3-bed/1.0-bath single-family listed at $100k.
• At list price, monthly cash flow is $219 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• It's been on market 31 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.
• In year one you build about $5k of equity ($688 loan paydown + $4k appreciation (4.2% local appreciation)).
• Location reads 68/100 on livability (#255 in NE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Lakeview Community Schools (rural): math 54% / reading 51% proficiency, ranked #49 of 111 in NE (top 44%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Platte Center Elementary School (math 52% / reading 42%, grade D-, #266 of 502 statewide, top 56%, 156 students, 51% FRL); Lakeview Junior High School (math 52% / reading 52%, grade C+, #43 of 128 statewide, top 36%, 147 students, 42% FRL); Lakeview High School (math 57% / reading 52%, grade C-, #80 of 261 statewide, top 37%, 311 students, 36% FRL).
• Watch-outs: built in 1895 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 7 active listings in the ZIP; 98 units permitted in Platte County in 2024 (17 in 5+ unit buildings).
• Platte County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts; this cycle's ask has dropped $20k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (4.2% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1895 — 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.
• 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.