401 7th St · Milligan, NE 68406

$135,000

2 bd · 1.0 ba · 1,560 sqft · SingleFamily public records · 80 Days on market

Built 1980 10,500 sqft lot $87/sqft · 62% below area Est $237k · 43% under

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Why this score? — see what drove the C 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).

• ARV discount +15.0/15.0
• Cash flow +13.9/30.0
• Appreciation +10.0/10.0
• DSCR +4.2/10.0
• Schools +4.1/10.0
• Livability +3.2/5.0
• 1% rule +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

401 7th Street, Milligan - where small-town Nebraska living meets a well-cared for, move-in ready ranch! The open layout, updated windows and new flooring will steal your heart from the moment you walk in. In this home you will find an abundance of natural light, main-floor laundry and a kitchen that is ready for your grandma's famous cookie recipe! Situated on a large corner-lot, this home is ready for you and your personal touches. Steel siding, new gutters (2025) and the spacious, clean basement make for easier maintenance. Whether you are looking to downsize or enter homeownership, don't let this needle-in-a-haystack pass you by!

Key facts

• Updated windows
• New flooring
• Natural light

Tags

• OPEN LAYOUT
• UPDATED WINDOWS
• NEW FLOORING
• NATURAL LIGHT
• MAIN-FLOOR LAUNDRY
• LARGE CORNER-LOT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $15 ($182/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $108k (20.0% below list).
• Recommended offer: $108k (20.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 65/100 on livability (#365 in NE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: crime C-, health & safety C-, amenities F.
• Exeter-Milligan Public Schools (rural): math 45% / reading 45% proficiency, ranked #176 of 245 in NE (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 19% free/reduced lunch — higher-income household profile.
• Market conditions: 2 active listings in the ZIP; 10 units permitted in Fillmore County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($933 loan paydown + $14k appreciation (10.0% local appreciation)).
• Fillmore County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $107k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $108,046 (20.0% below list)

Questions for the listing agent

1. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 0.80% ✗
• Cap rate: 6.43%
• Cash-on-cash: 0.48%
• DSCR: 1.02
• GRM: 10.4

CMA / ARV

• ARV (median comp): $236,757
• List price: $135,000
• Delta: -42.98%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
308 N St	0.26mi	3/1.0 (+1)	1,766 (+13%)	17mo	$120,000	$68	47

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.6%
• Equity multiple: 2.97×
• Total profit: $74,447
• Equity at exit: $121,619

10-year hold

• IRR: 21.8%
• Equity multiple: 6.78×
• Total profit: $218,392
• Equity at exit: $262,275

Cash invested: $37,800 (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 68406

• Home prices YoY: 5.7%
• Active inventory: 2
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,080 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$74 /mo · $891/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$227
• Net cashflow: $15

Break-even live

Break-even rent $1,061

Max offer price $135,000

Occupancy floor 94%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $135,000 Active 80 DOM
2. 2026-06-17
   days on market $135,000 Active 79 DOM
3. 2026-06-16
   days on market $135,000 Active 78 DOM
4. 2026-06-15
   days on market $135,000 Active 77 DOM
5. 2026-06-13
   days on market $135,000 Active 75 DOM
6. 2026-06-12
   days on market $135,000 Active 74 DOM
7. 2026-06-09
   days on market $135,000 Active 71 DOM
8. 2026-06-08
   days on market $135,000 Active 70 DOM
9. 2026-06-07
   days on market $135,000 Active 69 DOM
10. 2026-06-07
    days on market $135,000 Active 68 DOM
11. 2026-06-04
    days on market $135,000 Active 65 DOM
12. 2026-06-02
    days on market $135,000 Active 64 DOM
13. 2026-06-01
    days on market $135,000 Active 63 DOM
14. 2026-05-31
    days on market $135,000 Active 62 DOM
15. 2026-05-15
    price $135,000 641-char remark

    Show marketing remark (641 chars)

    401 7th Street, Milligan - where small-town Nebraska living meets a well-cared for, move-in ready ranch! The open layout, updated windows and new flooring will steal your heart from the moment you walk in. In this home you will find an abundance of natural light, main-floor laundry and a kitchen that is ready for your grandma's famous cookie recipe! Situated on a large corner-lot, this home is ready for you and your personal touches. Steel siding, new gutters (2025) and the spacious, clean basement make for easier maintenance. Whether you are looking to downsize or enter homeownership, don't let this needle-in-a-haystack pass you by!

16. 2026-03-30
    listed $145,000 New 641-char remark

    Show marketing remark (641 chars)

    401 7th Street, Milligan - where small-town Nebraska living meets a well-cared for, move-in ready ranch! The open layout, updated windows and new flooring will steal your heart from the moment you walk in. In this home you will find an abundance of natural light, main-floor laundry and a kitchen that is ready for your grandma's famous cookie recipe! Situated on a large corner-lot, this home is ready for you and your personal touches. Steel siding, new gutters (2025) and the spacious, clean basement make for easier maintenance. Whether you are looking to downsize or enter homeownership, don't let this needle-in-a-haystack pass you by!

17. 2022-08-09
    soldstatus $107,000
18. 2022-07-29
    soldstatus $107,000 Sold 992-char remark

    Show marketing remark (992 chars)

    This one-level house has great bones, nice yard, and open living spaces. It has been well-cared for and is ready for the next owner. The house is very light-filled thanks to the large, upgraded replacement windows. The foyer, living room and dining room are open to each other and make for a large living space. The kitchen is very efficient and most of the appliances will stay (dishwasher is new), including the washer and dryer. Two nice-sized bedrooms and a bathroom that includes the laundry finish the tour of the house. The patio and back yard are easily accessed off of the dining space. An attached garage has extra space for tools, freezers, etc. The metal siding, finished soffits and fascia, pour basement and very large crawl space make for very easy maintenance. The basement is large enough for all your storage needs and the mechanicals (water softening system will be new) and is accessed off of the back door. Priced very affordably, come see this loved home today!

19. 2022-06-21
    status Pending 992-char remark

    Show marketing remark (992 chars)

    This one-level house has great bones, nice yard, and open living spaces. It has been well-cared for and is ready for the next owner. The house is very light-filled thanks to the large, upgraded replacement windows. The foyer, living room and dining room are open to each other and make for a large living space. The kitchen is very efficient and most of the appliances will stay (dishwasher is new), including the washer and dryer. Two nice-sized bedrooms and a bathroom that includes the laundry finish the tour of the house. The patio and back yard are easily accessed off of the dining space. An attached garage has extra space for tools, freezers, etc. The metal siding, finished soffits and fascia, pour basement and very large crawl space make for very easy maintenance. The basement is large enough for all your storage needs and the mechanicals (water softening system will be new) and is accessed off of the back door. Priced very affordably, come see this loved home today!

20. 2022-06-15
    listed $99,000 Active - New 992-char remark

    Show marketing remark (992 chars)

    This one-level house has great bones, nice yard, and open living spaces. It has been well-cared for and is ready for the next owner. The house is very light-filled thanks to the large, upgraded replacement windows. The foyer, living room and dining room are open to each other and make for a large living space. The kitchen is very efficient and most of the appliances will stay (dishwasher is new), including the washer and dryer. Two nice-sized bedrooms and a bathroom that includes the laundry finish the tour of the house. The patio and back yard are easily accessed off of the dining space. An attached garage has extra space for tools, freezers, etc. The metal siding, finished soffits and fascia, pour basement and very large crawl space make for very easy maintenance. The basement is large enough for all your storage needs and the mechanicals (water softening system will be new) and is accessed off of the back door. Priced very affordably, come see this loved home today!

ⓘ 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: $891 · $74/mo
• Projected year-2 tax: $2,336 · $195/mo
• Expected delta: +$1,445/yr (+$120/mo · 162.2%)

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°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: $12,966
• − Mortgage interest: −$7,562
• − Property taxes: −$891
• − Insurance: −$675
• − Repairs & maintenance: −$1,037
• − Management: −$1,037
• − Depreciation: −$3,927
• Taxable loss: −$2,164
• Est. tax savings @ 24.0%: +$519
• After-tax cash flow: $701/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: Exeter-Milligan Public Schools
• NCES district ID: 3100133
• Math proficiency: 45% ▲ 5.00%
• Reading proficiency: 45% ▬ 0.00%
• Median HH income: $52,248
• Composite: 41.08/100
• National rank: #7443
• State rank: #176 of 245 in NE

Livability — Milligan

• Score: 65/100
• State rank: #365
• US rank: #13585

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Milligan, NE
• Population (ZIP): 451

Population outlook (Fillmore County) Hauer SSP2

• Today (2025): 5,729 people
• By 2030: 5,696 · -0.6%
• By 2040: 5,561 · -2.9%
• By 2050: 5,412 · -5.5%
• By 2075: 5,437 · -5.1%
• By 2100: 5,373 · -6.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Romanian 8% Iranian 3% Serbian 1%
• Foreign-born: 1%
• Languages at home: 99% English-only · Russian/Polish/Slavic 1%

Political lean MEDSL · Fillmore

• 2024 margin: Solid R (+54.9) · D 22.0% · R 76.8% · Other 1.2%
• 2008→2024 swing: -22.6pp toward R · 2008: -32.3pp · 2024: -54.9pp
• All cycles: 2024: R+54.9 2020: R+52.9 2016: R+51.8 2012: R+41.8 2008: R+32.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 11.36%
• Current HPI: 212.2268
• 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

+36.4% since first listed

6 events — show timeline

• 2026-05-15 Price Changed $135,000 GPRMLS
• 2026-03-30 Listed $145,000 GPRMLS
• 2022-08-09 Sold (Public Records) $107,000 Public Records
• 2022-07-29 Sold (MLS) $107,000 GPRMLS
• 2022-06-21 Pending — GPRMLS
• 2022-06-15 Listed $99,000 GPRMLS

Property tax history

+2.8%/yr

Latest (2025): $891 · -5.9% YoY. Source: county tax records.