205 Ida St

Fullerton, NE 68638

$94,000B

3 bd · 2.0 ba · 1,392 sqft · Built 1975 · SingleFamily · Active · 117 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,100/mo
• Mortgage (P&I): −$493
• Tax + insurance: −$156
• HOA: −$0
• Vac / Maint / Mgmt: −$231
• Net cashflow: $220/mo
• Annual: $2,644/yr
• Cap rate: 9.11%
• Cash-on-cash: 10.05%
• DSCR: 1.45
• 1% rule: 1.17%
• Cash to close: $26,320

Investor read

• This is a 3-bed/2.0-bath single-family listed at $94k.
• At list price, monthly cash flow is $220 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $94k).
• It's been on market 117 days — a 9% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $86k (9.0% below list) — sets the bar for market timing.
• In year one you build about $8k of equity ($650 loan paydown + $7k appreciation (7.6% local appreciation)).
• Location reads 73/100 on livability (#157 in NE) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: employment D+, amenities F, commute F.
• Fullerton Public Schools (rural): math 50% / reading 60% proficiency, ranked #117 of 245 in NE (top 48%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Fullerton Elementary School (math 47% / reading 52%, grade D, #233 of 502 statewide, top 52%, 164 students, 30% FRL); Fullerton High School (math 37% / reading 47%, grade F, #176 of 261 statewide, top 68%, 135 students, 38% FRL).
• Market conditions: 5 active listings in the ZIP; 4 units permitted in Nance County in 2024 (0 in 5+ unit buildings).
• Nance County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $32k; list at $94k implies a 194% gain — meaningful room to come down on a strong offer.
• At projected returns (7.6% appreciation + 3.0% rent growth), your $26k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 117 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1975 — 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?
• 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 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.