3609 NW Nutwood Ct · Lincoln, NE 68521

$45,000

3 bd · 2.0 ba · 1,280 sqft · Manufactured · 41 Days on market

Built 1988 Good condition $35/sqft · at area comps Est $45k · at est. $650/mo HOA · 39% of rent

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Why this score? — see what drove the B 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).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.3/15.0
• Schools +4.4/10.0
• Livability +4.2/5.0
• Condition / age +3.8/5.0
• Rent growth +3.5/5.0
• Appreciation +0.0/10.0

Key facts

• Built 1988
• Listed 41 days

Property features AI

Finance

• HOA & community: Homeowner association with monthly fee of $650

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Residential mobile home; Not new (existing unit)
• Construction: Built in 1988; Slab foundation
• Exterior features: Porch; City lot

Interior

• Kitchen: Range; Refrigerator; Dishwasher; Disposal; Microwave
• Bedrooms: Primary bedroom on the main floor; Additional bedrooms on the main floor
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Range, Refrigerator, Dishwasher, Disposal, Microwave
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $45k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $356 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $45k).
• Recommended offer: $44k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.8% vs local median 3.0% in Lincoln — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 85/100 on livability (#5 in NE, #545 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: crime D+.
• Lincoln Public Schools (urban): math 50% / reading 53% proficiency, ranked #59 of 111 in NE (top 53%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Belmont Elementary School (math 34% / reading 44%, grade F, #371 of 502 statewide, top 74%, 814 students, 0% FRL); Goodrich Middle School (math 38% / reading 36%, grade F, #99 of 128 statewide, top 79%, 877 students, 78% FRL); Lincoln Northeast High School (math 34% / reading 36%, grade F, #207 of 261 statewide, top 79%, 1,812 students, 62% FRL).
• Zoned-school proficiency averages 37% at this address vs 52% district-wide (-14 pts) — the specific schools serving this property underperform the Lincoln Public Schools average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+4.0%/yr); 366 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 47% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,940 units permitted in Lancaster County in 2024 (895 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $311 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Lancaster County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 4.0% rent growth), your $13k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($44k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 39% of rent.

Recommended offer $43,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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.
7. 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.
8. 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: 3.70% ✓
• Cap rate: 15.78%
• Cash-on-cash: 33.89%
• DSCR: 2.51
• GRM: 2.2

CMA / ARV

• ARV (median comp): $44,817
• List price: $45,000
• Delta: 0.41%
• Verdict: FAIR
• Comps: 11 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3709 NW Ebony Ct	0.07mi	3/2.0	1,216 (-5%)	1mo	$57,500	$47	87
3601 NW Magnolia Ct	0.05mi	3/2.0	1,216 (-5%)	10mo	$56,000	$46	81
3601 NW Orange Ct	0.05mi	3/2.0	1,216 (-5%)	11mo	$28,000	$23	80
3604 NW Lime Ct	0.07mi	3/2.0	1,216 (-5%)	18mo	$57,500	$47	74
3804 NW Gum Ct	0.14mi	3/3.0	1,184 (-8%)	8mo	$56,000	$47	70
3719 NW Fairwood Ct	0.09mi	3/2.0	1,216 (-5%)	21mo	$53,000	$44	69
3627 Northwest Quincy Ct	0.14mi	3/2.0	1,402 (+10%)	14mo	$38,000	$27	66
409 W Treehaven Dr	0.08mi	4/2.0 (+1)	1,456 (+14%)	11mo	$66,000	$45	59

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

Projected returns pro-forma

-3.0% appreciation · 4.04% rent growth · sell at horizon

5-year hold

• IRR: 32.0%
• Equity multiple: 2.39×
• Total profit: $17,556
• Equity at exit: $6,710

10-year hold

• IRR: 40.4%
• Equity multiple: 5.25×
• Total profit: $53,578
• Equity at exit: $3,891

Cash invested: $12,600 (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 68521

• Home prices YoY: -34.1%
• Rents YoY: 4.0%
• Active inventory: 366
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $1,667 high
• Mortgage (P&I): −$236
• Tax est. 1.5%: −$56 /mo · $675/yr
• Insurance: −$19
• HOA: −$650
• Vacancy / Maint / Mgmt: −$350
• Net cashflow: $356

Break-even live

Break-even rent $1,216

Max offer price $45,000

Occupancy floor 74%

Sensitivity live

Price	-10% $387	-5% $371	+0% $356	+5% $340	+10% $325
Rent	-10% $224	-5% $290	+0% $356	+5% $422	+10% $487
Rate	-1.0pp $378	-0.5pp $367	base $356	+0.5pp $344	+1.0pp $332

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
338 W Irving St Lincoln, NE	4.0	2.0	1632	$1,975	$1.21	22d	1	0.29mi
4441 N 1st St Lincoln, NE	3.0	1.0–2.0	853	$1,780	$2.09	14d	39	0.48mi
2900 N 1st St Lincoln, NE	2.0–3.0	1.0–2.0	1061	$1,395	$1.31	44d	3	0.50mi
2801 NW 1st St Lincoln, NE	3.0	2.0	1152	$1,349	$1.17	44d	3	0.57mi
North Pointe Villas Lincoln, NE	3.0	1.0–2.0	1022	$2,266	$2.22	14d	25	0.62mi
2700 N 1st St #2 Lincoln, NE	2.0	1.0	897	$1,095	$1.22	22d	1	0.64mi
535 W Saunders Ave Unit 3 Lincoln, NE	2.0	1.0	889	$945	$1.06	44d	1	0.80mi
4730 Innovation Dr Lincoln, NE	2.0	1.0–2.5	873	$1,800	$2.06	14d	1	0.82mi
2636 N 4th St Unit 2636 Lincoln, NE	3.0	2.0	1060	$1,595	$1.50	44d	1	0.84mi
2635 N 5th St Unit 2635 Lincoln, NE	3.0	2.0	1060	$1,595	$1.50	44d	1	0.86mi
4420 N 7th St Lincoln, NE	1.0–2.0	1.0–2.0	881	$1,092	$1.24	14d	17	1.00mi
5265 NW 12th St Lincoln, NE	2.0	1.0–2.0	932	$1,895	$2.03	14d	15	1.17mi
1151 Elba Ave Lincoln, NE	3.0	1.5	1443	$1,695	$1.17	44d	1	1.18mi
3201 N 12th St Lincoln, NE	3.0	1.0	928	$1,250	$1.35	14d	1	1.19mi
1205 Adams St Lincoln, NE	2.0	1.0	875	$1,350	$1.54	44d	1	1.23mi

HOA detail

• Monthly dues: $650 · $7,800/yr

Listing history 16 events

1. 2026-06-18
   days on market $45,000 Active 41 DOM
2. 2026-06-17
   days on market $45,000 Active 40 DOM
3. 2026-06-16
   days on market $45,000 Active 39 DOM
4. 2026-06-15
   days on market $45,000 Active 38 DOM
5. 2026-06-14
   days on market $45,000 Active 36 DOM
6. 2026-06-10
   days on market $45,000 Active 33 DOM
7. 2026-06-09
   days on market $45,000 Active 32 DOM
8. 2026-06-08
   days on market $45,000 Active 31 DOM
9. 2026-06-07
   days on market $45,000 Active 30 DOM
10. 2026-06-05
    days on market $45,000 Active 27 DOM
11. 2026-06-03
    days on market $45,000 Active 26 DOM
12. 2026-06-02
    days on market $45,000 Active 25 DOM
13. 2026-06-01
    days on market $45,000 Active 24 DOM
14. 2026-05-31
    days on market $45,000 Active 23 DOM
15. 2026-05-30
    days on market $45,000 Active 22 DOM
16. 2026-05-08
    listed $45,000 New 660-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥105°F today · 16 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: $20,002
• − Mortgage interest: −$2,521
• − Property taxes: −$675
• − Insurance: −$225
• − Repairs & maintenance: −$1,600
• − Management: −$1,600
• − HOA: −$7,800
• − Depreciation: −$1,309
• Taxable income: $4,272
• Est. tax owed @ 24.0%: −$1,025
• After-tax cash flow: $3,244/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.

Condition & rehab AI · 5 photos

Good 75/100 Cosmetic rehab

This manufactured home is in good condition with minor cosmetic improvements needed to enhance its curb appeal and value.

Value-add opportunities

• Resale Paint exterior siding — Enhances curb appeal and value
• Both Replace ceiling fan — Improves air circulation and aesthetics
• Both Landscaping upgrade — Enhances curb appeal and value
• Resale Replace kitchen appliances — Modernizes kitchen and adds value

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior siding — Enhances curb appeal and value ↑
• Both Replace ceiling fan — Improves air circulation and aesthetics ↑
• Both Landscaping upgrade — Enhances curb appeal and value ↑
• Resale Replace kitchen appliances — Modernizes kitchen and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Lincoln Public Schools
• NCES district ID: 3172840
• Math proficiency: 50% ▼ -6.00%
• Reading proficiency: 53% ▼ -3.00%
• Median HH income: $50,273
• Composite: 44.05/100
• National rank: #2880
• State rank: #59 of 111 in NE

Livability — Lincoln

• Score: 85/100
• State rank: #5
• US rank: #545

Category grades

Amenities A+ Commute A- Cost of living A+ Crime D+ Employment B- Housing A+ Health & safety A+ User ratings D+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lincoln, NE
• County: Lancaster County · 291,509 people
• City population: 291,509
• Metro: Lincoln, NE
• Population (ZIP): 37,050
• Household income: $67,483
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 1500.0

Population outlook (Lancaster County) Hauer SSP2

• Today (2025): 352,806 people
• By 2030: 377,899 · +7.1%
• By 2040: 428,582 · +21.5%
• By 2050: 483,103 · +36.9%
• By 2075: 632,390 · +79.2%
• By 2100: 759,513 · +115.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Hispanic / Latino 12% Asian 8% Two or more races 7% Black 5%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 2% Arab 2% Italian 2%
• Foreign-born: 15% · Vietnam, Canada, United Kingdom
• Languages at home: 78% English-only · Spanish 9% Vietnamese 6% Arabic 3%

Political lean MEDSL · Lancaster

• 2024 margin: Toss-up / Even · D 51.4% · R 47.1% · Other 1.5%
• 2008→2024 swing: -0.7pp no change · 2008: 5.0pp · 2024: 4.3pp
• All cycles: 2024: D+4.3 2020: D+7.8 2016: D+0.1 2012: R+1.0 2008: D+5.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -124.30%
• Current HPI: 239.8394
• Rent YoY: ▲ 4.04%
• Metro: Lincoln, NE
• 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

1 event — show timeline

• 2026-05-08 Listed $45,000 GPRMLS