Real Estate Investing in Morrill, Nebraska (69358)
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Should you buy in 69358 (Morrill, NE)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 16.1% of homes vacant — above national norms.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Morrill, NE (69358)?
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Market Analysis: 69358 Morrill
Investors eyeing 69358 need to respect the fundamentals at play. Home values of $197K come alongside slower price movement and elevated management overhead.
The 69358 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
Within NE, ZIP 69358 trails on several market indicators that neighboring Scotts Bluff County submarkets outperform. The gap is real and resilient enough to shape underwriting.
The 69358 ZIP's population of 1,976 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that stands at the need for careful underwriting.
The right play in 69358 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Morrill:
Property Strategy for 69358
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $145,454 | $1,000 | 5.0% | +7.8% | $72,727 |
| 3BR | $205,583 | $1,310 | 4.6% | +7.8% | $68,528 |
Market Trends
Home Value History (with trend line)
📊 How Does 69358 Compare?
| Metric | 69358 | Morrill | Scottsbluff, NE | Nebraska |
|---|---|---|---|---|
| Home Value | $196,589 | $196,589 | N/A | $269,423 |
| 5-Year CAGR | 6.6% | 6.6% | N/A | 6.7% |
| Avg Rent | $900 | $900 | N/A | - |
| Cap Rate | 3.6% | 3.6% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 69358 (Morrill, NE). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $196,589 |
| Monthly Rent | $900 |
| Price-to-Rent | 18.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.5% |
| Cap Rate | 3.6% |
| 5-Year IRR | 10.2% |
📈 Home Appreciation
| 1-Year | +6.5% ▲ |
| 3-Year CAGR | +5.5% ▲ |
| 5-Year CAGR | +6.6% ▲ |
| 10-Year CAGR | +6.2% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.6%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 69358
Population: 1,976
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 69358
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 540 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is real estate in Morrill, NE a good investment right now?
Morrill, NE rates 3.0/5 for investability. With median values at $197K and rents near $900/mo, the market offers reasonable fundamentals for rental investors.
What investment strategy works best in Morrill, NE?
Most investors in Morrill, NE run a careful cash-flow rentals with hands-on management strategy. It aligns with the 3.0/5 investability profile and the market fundamentals.
What are vacancy rates like in Morrill, NE?
Morrill, NE sees elevated vacancy, which is reasonable relative to the broader NE rental market.
How strong is tenant demand in Morrill, NE?
Morrill, NE draws a even-keeled base of working renters. Demand at the $900/mo rent level is reasonable for standard single-family and small multi rentals.
What is the average monthly rent in Morrill, NE?
Expect rents around $900/mo per month in Morrill, NE. With home values at $197K, the yield math works out to reasonable levels for rental investors.
You know 69358 now. You don’t know where it ranks.
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How 69358 ranks in Scottsbluff, NE
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