719 N Thomas Ave

Oakland, NE 68045

$185,000D

4 bd · 3.0 ba · 2,250 sqft · Built 1910 · SingleFamily · Active · 68 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,308/mo
• Mortgage (P&I): −$970
• Tax + insurance: −$219
• HOA: −$0
• Vac / Maint / Mgmt: −$275
• Net cashflow: $-156/mo
• Annual: $-1,867/yr
• Cap rate: 5.28%
• Cash-on-cash: -3.60%
• DSCR: 0.84
• 1% rule: 0.71%
• Cash to close: $51,800

Investor read

• This is a 4-bed/3.0-bath single-family listed at $185k.
• At list price, monthly cash flow is $-156 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $158k (14.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $131k (29.3% below list).
• It's been on market 68 days — a 6% lower offer ($174k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $131k (29.3% below list) — sets the bar for 1% rule.
• In year one you build about $15k of equity ($1k loan paydown + $14k appreciation (7.6% local appreciation)).
• Location reads 75/100 on livability (#98 in NE, #3,931 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• Oakland Craig Public Schools (rural): math 55% / reading 55% proficiency, ranked #39 of 111 in NE (top 35%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Oakland Craig Elementary (math 47% / reading 52%, grade D, #233 of 502 statewide, top 52%, 223 students, 15% FRL); Oakland Craig Junior-Senior High (math 62% / reading 57%, grade C+, #49 of 261 statewide, top 26%, 193 students, 4% FRL) — zoned schools average 9% FRL vs 27% district-wide (18 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 8 active listings in the ZIP; 15 units permitted in Burt County in 2024 (0 in 5+ unit buildings).
• Burt County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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 68 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
• Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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.