10823 S 177th St

Gretna, NE 68136

$340,000D

3 bd · 3.0 ba · 1,753 sqft · Built 2022 · SingleFamily · Pending · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,570/mo
• Mortgage (P&I): −$1,783
• Tax + insurance: −$743
• HOA: −$0
• Vac / Maint / Mgmt: −$540
• Net cashflow: $-496/mo
• Annual: $-5,946/yr
• Cap rate: 4.54%
• Cash-on-cash: -6.25%
• DSCR: 0.72
• 1% rule: 0.76%
• Cash to close: $95,200

Investor read

• This is a 3-bed/3.0-bath single-family listed at $340k. Condition is rated excellent.
• At list price, monthly cash flow is $-496 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $252k (25.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $257k (24.4% below list).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $252k (25.7% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 82/100 on livability (#13 in NE, #1,227 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Gretna Public Schools (suburban): math 64% / reading 64% proficiency, ranked #6 of 111 in NE (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 5% free/reduced lunch — higher-income household profile.
• Zoned schools: Palisades Elementary School (math 79% / reading 74%, grade A, #17 of 502 statewide, top 3%, 490 students, 6% FRL); Aspen Creek Middle School (math 65% / reading 63%, grade B+, #12 of 128 statewide, top 9%, 777 students, 9% FRL) — zoned schools at 8% FRL track the district average.
• Market conditions: Rents rising fast (+4.1%/yr); 251 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,612 units permitted in Sarpy County in 2024 (364 in 5+ unit buildings).
• Sarpy County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts since 4y ago 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 4.5% vs local median 2.5% in Gretna — 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-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.
• 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.