3634 R St · Omaha, NE 68107

$117,000

3 bd · 1.0 ba · 1,000 sqft · Other public records

Built 1890 6,098 sqft lot

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Why this score? — see what drove the C 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 +24.8/30.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.0/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Key facts

• 6,098 sq ft lot
• Built 1890

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $117k.

Deal economics

• At list price, monthly cash flow is $246 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $117k).
• Cap rate 8.8% vs local median 3.6% in Omaha — 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 84/100 on livability (#7 in NE, #663 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F.
• Omaha Public Schools (urban): math 20% / reading 28% proficiency, ranked #110 of 111 in NE (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Indian Hill Elementary School (math 5% / reading 9%, grade F, #499 of 502 statewide, top 99%, 664 students, 0% FRL); Bryan Middle School (math 11% / reading 25%, grade F, #123 of 128 statewide, top 96%, 866 students, 0% FRL); Bryan High School (math 11% / reading 13%, grade F, #254 of 261 statewide, top 98%, 1,634 students, 0% FRL) — zoned schools average 0% FRL vs 62% district-wide (62 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 63 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 4,539 units permitted in Douglas County in 2024 (2,583 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $809 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Douglas County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $117,000

Questions for the listing agent

1. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is F 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?
4. 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.
5. 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.
6. 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: 1.10% ✓
• Cap rate: 8.82%
• Cash-on-cash: 9.02%
• DSCR: 1.40
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -2.7%
• Equity multiple: 0.90×
• Total profit: $-3,276
• Equity at exit: $17,445

10-year hold

• IRR: 7.0%
• Equity multiple: 1.53×
• Total profit: $17,323
• Equity at exit: $10,116

Cash invested: $32,760 (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 68107

• Active inventory: 63
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,282 high
• Mortgage (P&I): −$614
• Tax from tax record: −$104 /mo · $1,247/yr
• Insurance: −$49
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $246

Break-even live

Break-even rent $970

Max offer price $117,000

Occupancy floor 76%

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: $29,250
• Closing costs: $3,510
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3352 T St Omaha, NE	4.0	1.0	1150	$1,400	$1.22	3d	1	0.34mi
3941 X St Unit 1 Omaha, NE	2.0	1.0	950	$995	$1.05	43d	1	0.50mi
4104 Y St Omaha, NE	3.0	1.0	864	$1,200	$1.39	14d	1	0.55mi
4810 Orchard Ave Omaha, NE	3.0	1.0	1263	$1,682	$1.33	3d	1	0.98mi
2301 Q St Unit A Omaha, NE	2.0	1.0	900	$950	$1.06	14d	1	1.21mi
5803 S 50th St Omaha, NE	3.0	1.0	1000	$1,550	$1.55	10d	1	1.21mi
4679 Polk St Unit 2 Omaha, NE	2.0	1.0	700	$825	$1.18	43d	1	1.30mi
7318 S 41st St Bellevue, NE	2.0	1.0	1065	$1,650	$1.55	23d	1	1.31mi
4676 Harrison St Omaha, NE	1.0–2.0	1.0	725	$1,095	$1.51	14d	1	1.31mi
4814 Polk St Unit 2 Omaha, NE	2.0	1.0	992	$1,350	$1.36	43d	1	1.32mi

Listing history 1 events

1. 2026-06-18
   listed $117,000 Pending

ⓘ 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: $1,247 · $104/mo
• Projected year-2 tax: $2,024 · $169/mo
• Expected delta: +$777/yr (+$65/mo · 62.3%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,381
• − Mortgage interest: −$6,554
• − Property taxes: −$1,247
• − Insurance: −$585
• − Repairs & maintenance: −$1,231
• − Management: −$1,231
• − Depreciation: −$3,404
• Taxable income: $1,130
• Est. tax owed @ 24.0%: −$271
• After-tax cash flow: $2,685/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: Omaha Public Schools
• NCES district ID: 3174820
• Math proficiency: 20% ▼ -10.00%
• Reading proficiency: 28% ▼ -5.00%
• Median HH income: $46,039
• Composite: 20.83/100
• National rank: #8502
• State rank: #110 of 111 in NE

Livability — Omaha

• Score: 84/100
• State rank: #7
• US rank: #663

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Omaha, NE
• County: Douglas County · 538,646 people
• City population: 552,986
• Metro: Omaha-Council Bluffs, NE-IA
• Population (ZIP): 31,540
• Household income: $62,560
• Rent vs Own: 38.3% rent · 61.7% own
• Severe rent burden: 815.0

Population outlook (Douglas County) Hauer SSP2

• Today (2025): 625,245 people
• By 2030: 661,613 · +5.8%
• By 2040: 732,395 · +17.1%
• By 2050: 801,988 · +28.3%
• By 2075: 968,637 · +54.9%
• By 2100: 1,101,871 · +76.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (67%)
• Race & ethnicity: Hispanic / Latino 67% White 24% Two or more races 22% Black 7% Native American 3%
• Hispanic origin (detail): Mexican 53%
• Common ancestry: Romanian 3% Lithuanian 1% Portuguese 1%
• Foreign-born: 32% · Canada, Jamaica
• Languages at home: 38% English-only · Spanish 59%

Political lean MEDSL · Douglas

• 2024 margin: D (+10.2) · D 54.4% · R 44.2% · Other 1.4%
• 2008→2024 swing: +5.5pp toward D · 2008: 4.6pp · 2024: 10.2pp
• All cycles: 2024: D+10.2 2020: D+11.3 2016: D+1.4 2012: R+4.3 2008: D+4.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -223.92%
• Current HPI: 282.1815
• Rent YoY: —
• Metro: Omaha-Council Bluffs, NE-IA
• 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

2 events — show timeline

• 2026-06-10 Listing Removed — GPRMLS
• 2026-06-03 Listed $117,000 GPRMLS

Property tax history

+1.9%/yr

Latest (2025): $1,247 · +23.5% YoY. Source: county tax records.