101 Main St

Swanton, NE 68445

$78,000B

2 bd · 4.5 ba · 3,044 sqft · Built 1894 · Condo · Active · 59 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,103/mo
• Mortgage (P&I): −$409
• Tax + insurance: −$130
• HOA: −$0
• Vac / Maint / Mgmt: −$232
• Net cashflow: $333/mo
• Annual: $3,991/yr
• Cap rate: 11.41%
• Cash-on-cash: 18.28%
• DSCR: 1.81
• 1% rule: 1.41%
• Cash to close: $21,840

Investor read

• This is a 2-bed/4.5-bath condo listed at $78k. Condition is rated poor.
• At list price, monthly cash flow is $333 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $78k).
• It's been on market 59 days — a 3% lower offer ($76k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $76k (3.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($539 loan paydown + $2k appreciation (3.0% local appreciation)).
• Location reads 66/100 on livability (#306 in NE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, employment C-, health & safety C-.
• Tri County Public Schools (rural): math 56% / reading 58% proficiency, ranked #28 of 111 in NE (top 25%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: built in 1894 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 2 active listings in the ZIP; 36 units permitted in Saline County in 2024 (0 in 5+ unit buildings).
• Saline County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~4 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1894 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Repairs flagged (vision-AI assessment)

• Major: roof — No visible roof in the satellite image.
• Major: exterior — No visible exterior in the satellite image.
• Major: flooring — No visible interior in the satellite image.
• Major: interior walls/paint — No visible interior in the satellite image.
• Major: systems — No visible interior in the satellite image.