522 Main St · Farnam, NE 69029

$199,900

3 bd · 2.0 ba · 2,294 sqft · SingleFamily public records · 261 Days on market

Built 1900 0.32 ac lot $87/sqft · at area comps Est $252k · 21% under

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Why this score? — see what drove the D 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 +7.3/30.0
• Appreciation +7.3/10.0
• Schools +4.1/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.4/10.0
• 1% rule +1.3/10.0

Listing remarks MLS

Don't miss this Large Victorian Family home, Move in Ready with lots of updates, it sits on a double lot and has a large heated 3 car garage. Lots of big windows through out to make it light and bright. It has a nice layout that leads to a large kitchen with lots of storage and a pantry. All the bedrooms are good size with an extra large primary bedroom. Large fenced in backyard with a deck, screened in porch and storage shed. Oversized 3 car garage that is insulated and heated with plenty of room for 3 large vehicles and workshop space. This Property will check all the boxes call to see it today.

Key facts

• Pantry
• Screened in porch
• Fenced in backyard

Tags

• DOUBLE LOT
• LARGE KITCHEN
• PANTRY
• FENCED IN BACKYARD
• DECK
• SCREENED IN PORCH

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $-271 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $152k (23.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $126k (36.8% below list).
• Recommended offer: $126k (36.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 63/100 on livability (#398 in NE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: health & safety C-, amenities F, commute F.
• Eustis-Farnam Public Schools (rural): math 45% / reading 45% proficiency, ranked #175 of 245 in NE (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Elementary School At Eustis (math 44% / reading 34%, grade F, #346 of 502 statewide, top 74%, 87 students, 16% FRL); Eustis-Farnam High School (math 30% / reading 30%, grade F, #233 of 261 statewide, top 90%, 79 students, 20% FRL).
• Market conditions: 8 active listings in the ZIP; 61 units permitted in Dawson County in 2024 (36 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($1k loan paydown + $9k appreciation (4.7% local appreciation)).
• Dawson County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 4, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 261 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y ago; this cycle's ask has dropped $20k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $83k; list at $200k implies a 141% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $126,245 (36.8% below list)

Questions for the listing agent

1. 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?
2. It's been on market 261 days. Have you received any prior offers? Is the seller open to a 37% concession, seller financing, or rate buy-down credit?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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?
8. 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.
9. 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.
10. 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: 0.63% ✗
• Cap rate: 4.67%
• Cash-on-cash: -5.80%
• DSCR: 0.74
• GRM: 13.2

CMA / ARV

• ARV (median comp): $252,000
• List price: $199,900
• Delta: -20.67%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
611 Antelope St	0.23mi	3/2.0	2,250 (-2%)	5mo	$289,000	$128	82
504 Crockett St	0.14mi	3/3.0	2,160 (-6%)	1mo	$215,000	$100	79
609 Lincoln St	0.10mi	2/2.0 (-1)	2,006 (-13%)	3mo	$125,000	$62	67

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

Projected returns pro-forma

4.69% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 7.1%
• Equity multiple: 1.45×
• Total profit: $25,248
• Equity at exit: $109,516

10-year hold

• IRR: 9.2%
• Equity multiple: 2.66×
• Total profit: $92,902
• Equity at exit: $185,969

Cash invested: $55,972 (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 69029

• Home prices YoY: 2.8%
• Active inventory: 8
• Price-to-rent: 13.2×

Monthly cashflow live

• Estimated rent: $1,262 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$136 /mo · $1,637/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $-271

Break-even live

Break-even rent $1,605

Max offer price $152,091

Occupancy floor —

Sensitivity live

Price	-10% $-157	-5% $-214	+0% $-271	+5% $-327	+10% $-384
Rent	-10% $-370	-5% $-321	+0% $-271	+5% $-221	+10% $-171
Rate	-1.0pp $-170	-0.5pp $-220	base $-271	+0.5pp $-322	+1.0pp $-375

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $199,900 Active 261 DOM
2. 2026-06-21
   days on market $199,900 Active 260 DOM
3. 2026-06-18
   days on market $199,900 Active 258 DOM
4. 2026-06-17
   days on market $199,900 Active 257 DOM
5. 2026-06-16
   days on market $199,900 Active 256 DOM
6. 2026-06-15
   days on market $199,900 Active 255 DOM
7. 2026-06-13
   days on market $199,900 Active 253 DOM
8. 2026-06-12
   days on market $199,900 Active 252 DOM
9. 2026-06-09
   days on market $199,900 Active 249 DOM
10. 2026-06-08
    days on market $199,900 Active 248 DOM
11. 2026-06-07
    days on market $199,900 Active 247 DOM
12. 2026-06-07
    days on market $199,900 Active 246 DOM
13. 2026-06-04
    days on market $199,900 Active 243 DOM
14. 2026-06-02
    days on market $199,900 Active 242 DOM
15. 2026-06-01
    days on market $199,900 Active 241 DOM
16. 2026-05-31
    days on market $199,900 Active 240 DOM
17. 2025-11-26
    price $199,900 604-char remark

    Show marketing remark (604 chars)

    Don't miss this Large Victorian Family home, Move in Ready with lots of updates, it sits on a double lot and has a large heated 3 car garage. Lots of big windows through out to make it light and bright. It has a nice layout that leads to a large kitchen with lots of storage and a pantry. All the bedrooms are good size with an extra large primary bedroom. Large fenced in backyard with a deck, screened in porch and storage shed. Oversized 3 car garage that is insulated and heated with plenty of room for 3 large vehicles and workshop space. This Property will check all the boxes call to see it today.

18. 2025-10-03
    listed $219,900 Active 604-char remark

    Show marketing remark (604 chars)

    Don't miss this Large Victorian Family home, Move in Ready with lots of updates, it sits on a double lot and has a large heated 3 car garage. Lots of big windows through out to make it light and bright. It has a nice layout that leads to a large kitchen with lots of storage and a pantry. All the bedrooms are good size with an extra large primary bedroom. Large fenced in backyard with a deck, screened in porch and storage shed. Oversized 3 car garage that is insulated and heated with plenty of room for 3 large vehicles and workshop space. This Property will check all the boxes call to see it today.

19. 2015-04-09
    soldstatus $83,000 252-char remark

    Show marketing remark (252 chars)

    gorgeous victorian home 4 bedrooms, 2 full baths and a 3 car garage on a hugh well landscaped lot, hardwood floors wood burning stove, large kitchen, and hugh master bedroom. A screened in sun room and so much more. Very Charming home come take a look-

20. 2015-04-06
    soldstatus $83,000
21. 2014-02-24
    listed $88,500 252-char remark

    Show marketing remark (252 chars)

    gorgeous victorian home 4 bedrooms, 2 full baths and a 3 car garage on a hugh well landscaped lot, hardwood floors wood burning stove, large kitchen, and hugh master bedroom. A screened in sun room and so much more. Very Charming home come take a look-

22. 1999-04-19
    soldstatus $32,000

ⓘ 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: $1,637 · $136/mo
• Projected year-2 tax: $3,458 · $288/mo
• Expected delta: +$1,822/yr (+$152/mo · 111.3%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥99°F today · 17 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: $15,149
• − Mortgage interest: −$11,198
• − Property taxes: −$1,637
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,212
• − Management: −$1,212
• − Depreciation: −$5,815
• Taxable loss: −$6,923
• Est. tax savings @ 24.0%: +$1,662
• After-tax cash flow: $-1,586/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: Eustis-Farnam Public Schools
• NCES district ID: 3100111
• Math proficiency: 45% ▬ 0.00%
• Reading proficiency: 45% ▬ 0.00%
• Median HH income: $53,125
• Composite: 41.16/100
• National rank: #7417
• State rank: #175 of 245 in NE

Livability — Farnam

• Score: 63/100
• State rank: #398
• US rank: #15134

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: Farnam, NE
• Population (ZIP): 293

Population outlook (Dawson County) Hauer SSP2

• Today (2025): 23,318 people
• By 2030: 22,912 · -1.7%
• By 2040: 22,097 · -5.2%
• By 2050: 21,358 · -8.4%
• By 2075: 19,801 · -15.1%
• By 2100: 17,647 · -24.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 2%
• Common ancestry: Romanian 5% Portuguese 2% Lithuanian 1%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Dawson

• 2024 margin: Solid R (+49.6) · D 24.7% · R 74.3%
• 2008→2024 swing: -11.3pp toward R · 2008: -38.3pp · 2024: -49.6pp
• All cycles: 2024: R+49.6 2020: R+43.8 2016: R+45.0 2012: R+41.8 2008: R+38.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.69%
• Current HPI: 174.1236
• 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

+524.7% since first listed

6 events — show timeline

• 2025-11-26 Price Changed $199,900 GMNMLS
• 2025-10-03 Listed $219,900 GMNMLS
• 2015-04-09 Sold (MLS) $83,000 GMNMLS
• 2015-04-06 Sold (Public Records) $83,000 Public Records
• 2014-02-24 Listed $88,500 GMNMLS
• 1999-04-19 Sold (Public Records) $32,000 Public Records

Property tax history

+5.4%/yr

Latest (2025): $1,637 · +50.4% YoY. Source: county tax records.