515 J St

Aurora, NE 68818

$134,900D

2 bd · 2.0 ba · 1,998 sqft · Built 1975 · SingleFamily · Pending · 48 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $972/mo
• Mortgage (P&I): −$707
• Tax + insurance: −$172
• HOA: −$0
• Vac / Maint / Mgmt: −$204
• Net cashflow: $-112/mo
• Annual: $-1,338/yr
• Cap rate: 5.30%
• Cash-on-cash: -3.54%
• DSCR: 0.84
• 1% rule: 0.72%
• Cash to close: $37,772

Investor read

• This is a 2-bed/2.0-bath single-family listed at $135k.
• At list price, monthly cash flow is $-112 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $115k (14.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $97k (27.9% below list).
• It's been on market 48 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $97k (27.9% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 81/100 on livability (#14 in NE, #1,333 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Aurora Public Schools (town): math 53% / reading 60% proficiency, ranked #29 of 111 in NE (top 26%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Aurora Preschool (70 students, 33% FRL); Aurora Middle School (math 45% / reading 59%, grade C+, #43 of 128 statewide, top 36%, 269 students, 34% FRL); Aurora High School (math 47% / reading 52%, grade D, #107 of 261 statewide, top 52%, 374 students, 34% FRL).
• Market conditions: 27 active listings in the ZIP; 47 units permitted in Hamilton County in 2024 (8 in 5+ unit buildings).
• 2 sale attempts since 2y 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.

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 48 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
• Built in 1975 — 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.
• 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.