6537 Franklin St · Omaha, NE 68104

$130,000

2 bd · 1.0 ba · 1,055 sqft · SingleFamily public records · 1 Days on market

Built 1946 5,227 sqft lot Est $177k · 27% under

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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 +21.0/30.0
• ARV discount +15.0/15.0
• DSCR +6.7/10.0
• 1% rule +5.3/10.0
• Livability +4.2/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Small is Big! This 2 bedroom is packed with big features like maintenance-free aluminum siding, hardwood floors, updated colors, spacious kitchen, nice sized bedrooms, full basement for storage or more room, central air, and the big surprise-- a fully enclosed 285 sq. foot sunroom for relaxing and enjoying the weather! You will fall in love as soon as you walk in the front door. Nice big yard which is fully fenced. Great area close to major streets, shopping, grocery stores, and entertainment.

Key facts

• Extra parking pad
• Fenced yard
• Unfinished basement

Tags

• SUNROOM
• FENCED YARD
• EXTRA PARKING PAD
• UNFINISHED BASEMENT

Property features AI

Exterior

• Parking: Attached garage (1 covered space)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property; Not new (built in 1946)
• Construction: Aluminum siding; Composition roof; Block foundation; Built in 1946
• Exterior features: Porch and patio; Chain link fencing; Lot approximately 0.12 acre (140 x 40)

Interior

• Bedrooms: Master bedroom on the main floor; Second bedroom on the main floor
• Flooring: Wood flooring
• Bathrooms: One full bathroom on the main floor
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Unfinished basement with windows; No fireplaces; Wood flooring

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $183 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Cap rate 8.0% 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: Harrison Elementary School (math 57% / reading 57%, grade C+, #136 of 502 statewide, top 31%, 260 students, 0% FRL); Lewis & Clark Middle School (math 23% / reading 35%, grade F, #115 of 128 statewide, top 90%, 860 students, 0% FRL); Benson High School (math 9% / reading 12%, grade F, #257 of 261 statewide, top 98%, 1,570 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: Rents rising (+2.4%/yr); 172 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $899 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 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 13y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $77k; list at $130k implies a 69% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $130,000

Questions for the listing agent

1. Built in 1946 — 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: 1.03% ✓
• Cap rate: 7.98%
• Cash-on-cash: 6.02%
• DSCR: 1.27
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $177,240
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6615 Seward St	0.12mi	3/1.0 (+1)	1,104 (+5%)	1mo	$194,000	$176	81
2302 N 64th St	0.35mi	2/2.0	1,088 (+3%)	1mo	$127,500	$117	73
6123 Seward St	0.26mi	3/1.0 (+1)	1,080 (+2%)	8mo	$163,000	$151	72
6638 Decatur St	0.21mi	3/1.0 (+1)	960 (-9%)	5mo	$160,000	$167	66
6524 Lafayette Ave	0.22mi	3/1.0 (+1)	1,164 (+10%)	3mo	$195,000	$168	65
2316 N 69th St	0.49mi	2/2.0	1,018 (-4%)	7mo	$200,000	$196	62
2303 N 60th Ave	0.51mi	2/1.0	1,132 (+7%)	3mo	$197,000	$174	61
1514 N 70 Ave	0.45mi	3/1.0 (+1)	960 (-9%)	1mo	$153,000	$159	58
2005 N 68 St	0.32mi	3/1.0 (+1)	1,165 (+10%)	5mo	$180,000	$155	58
6658 Decatur St	0.30mi	2/1.0	903 (-14%)	6mo	$178,000	$197	57
2332 N 61st St	0.50mi	3/1.0 (+1)	1,182 (+12%)	5mo	$65,000	$55	48
5607 Decatur St	0.67mi	3/2.0 (+1)	1,211 (+15%)	3mo	$310,000	$256	33

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 · 2.35% rent growth · sell at horizon

5-year hold

• IRR: -7.7%
• Equity multiple: 0.72×
• Total profit: $-10,292
• Equity at exit: $19,383

10-year hold

• IRR: 1.0%
• Equity multiple: 1.07×
• Total profit: $2,523
• Equity at exit: $11,240

Cash invested: $36,400 (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 68104

• Rents YoY: 2.4%
• Active inventory: 172
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,341 high
• Mortgage (P&I): −$682
• Tax from tax record: −$141 /mo · $1,687/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $183

Break-even live

Break-even rent $1,109

Max offer price $130,000

Occupancy floor 81%

Sensitivity live

Price	-10% $256	-5% $220	+0% $183	+5% $146	+10% $109
Rent	-10% $77	-5% $130	+0% $183	+5% $236	+10% $289
Rate	-1.0pp $248	-0.5pp $216	base $183	+0.5pp $149	+1.0pp $115

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6241 Decatur St Omaha, NE	3.0	1.0	866	$1,595	$1.84	11d	1	0.21mi
6020 Franklin St Omaha, NE	3.0	1.5	1216	$1,900	$1.56	44d	1	0.34mi
6066 Charles St Omaha, NE	2.0	1.0	910	$1,700	$1.87	20d	1	0.35mi
2316 N 65th Ave Omaha, NE	2.0	1.5	884	$1,500	$1.70	22d	1	0.36mi
1210 N 60th St Unit 4 Omaha, NE	2.0	1.0	900	$1,400	$1.56	44d	1	0.49mi
5833 Lafayette Ave Unit 5833 Omaha, NE	2.0	1.0	900	$1,295	$1.44	24d	1	0.53mi
5633 Parker St Omaha, NE	3.0	1.5	1200	$1,695	$1.41	44d	1	0.61mi
1711 N 73rd St Unit 1715/21 Omaha, NE	1.0	1.0	711	$775	$1.09	44d	1	0.62mi
1711 N 73rd St Unit 1711/06 Omaha, NE	1.0	1.0	731	$815	$1.11	24d	1	0.62mi
1711 N 73rd St Unit 1715/25 Omaha, NE	1.0	1.0	711	$795	$1.12	4d	1	0.62mi
1711 N 73rd St Omaha, NE	1.0	1.0	711	$775	$1.09	24d	1	0.63mi
5828 Erskine St Unit 5828-5 Omaha, NE	1.0	1.0	700	$850	$1.21	3d	1	0.63mi
5820 Erskine St Unit 5820-2 Omaha, NE	1.0	1.0	700	$845	$1.21	44d	1	0.65mi
7303 Decatur St Unit 7303/04 Omaha, NE	2.0	1.0	850	$925	$1.09	4d	1	0.67mi
6539 Binney St Omaha, NE	2.0	1.0	720	$1,300	$1.81	24d	1	0.74mi
7349 Grant St Omaha, NE	1.0–2.0	1.0–2.0	967	$1,350	$1.40	3d	6	0.76mi
7402 Blondo St Omaha, NE	2.0	1.0	1000	$895	$0.90	44d	1	0.78mi
6704 Binney St Unit 67045 Omaha, NE	2.0	1.0	800	$850	$1.06	15d	1	0.80mi
2817 N 60th St Unit 2817/02 Omaha, NE	3.0	1.0	1188	$1,500	$1.26	3d	1	0.80mi
2817 N 60th St Unit 2821/02 Omaha, NE	3.0	1.0	1188	$1,045	$0.88	24d	1	0.81mi
6152 Military Ave Omaha, NE	2.0	1.0–2.0	785	$1,599	$2.04	3d	6	0.82mi
2717 N 73rd St Unit 209 Omaha, NE	1.0	1.0	700	$745	$1.06	24d	1	0.85mi
7079 Binney St Omaha, NE	2.0	1.0	840	$1,500	$1.79	24d	1	0.91mi
7602 Parker St Omaha, NE	3.0	2.0	1050	$1,700	$1.62	44d	1	0.96mi
7602 Parker St Omaha, NE	3.0	2.0	1040	$1,695	$1.63	4d	1	0.96mi
7316 Maple St Omaha, NE	1.0–2.0	1.0	850	$1,095	$1.29	44d	10	0.99mi
7306 Maple St Unit 08-7316 Omaha, NE	1.0	1.0	700	$945	$1.35	24d	1	1.00mi
2708 N 75th St Unit 23 Omaha, NE	1.0	1.0	735	$895	$1.22	44d	1	1.01mi
7311 Wirt Cir Omaha, NE	1.0–2.0	1.0	850	$1,045	$1.23	24d	11	1.03mi
6990 Dodge St Omaha, NE	2.0	1.0–2.0	947	$1,495	$1.58	4d	3	1.03mi
7610 Ohio Plz Omaha, NE	2.0	1.0–1.5	1050	$1,138	$1.08	44d	1	1.05mi
3333 N 61st St Unit 3331 Omaha, NE	2.0	1.0	1077	$1,050	$0.97	12d	1	1.07mi
2333 Benson Gardens Blvd Omaha, NE	1.0	1.0	900	$795	$0.88	22d	1	1.12mi
6020 Birch St Unit 6 Omaha, NE	2.0	1.0	800	$1,150	$1.44	44d	1	1.15mi
2303 Benson Gardens Blvd Omaha, NE	2.0	1.0–2.0	800	$1,275	$1.59	3d	14	1.19mi
6010 Evans St Omaha, NE	3.0	2.0	1196	$1,850	$1.55	24d	1	1.21mi
1112 N 50th Ave Omaha, NE	2.0	1.0	1200	$1,450	$1.21	15d	1	1.23mi
5016 California St #12 Omaha, NE	2.0	2.0	1084	$1,600	$1.48	24d	1	1.32mi
7725 Webster St Omaha, NE	3.0	2.0	1300	$1,850	$1.42	22d	1	1.36mi
1920 Robertson Dr Omaha, NE	2.0	1.0	1100	$1,038	$0.94	44d	5	1.40mi

Listing history 7 events

1. 2026-05-20
   status Pending
2. 2026-05-19
   listed $130,000 New
3. 2013-06-28
   soldstatus $77,000
4. 2013-06-26
   soldstatus $77,000 499-char remark

   Show marketing remark (499 chars)

   Small is Big! This 2 bedroom is packed with big features like maintenance-free aluminum siding, hardwood floors, updated colors, spacious kitchen, nice sized bedrooms, full basement for storage or more room, central air, and the big surprise-- a fully enclosed 285 sq. foot sunroom for relaxing and enjoying the weather! You will fall in love as soon as you walk in the front door. Nice big yard which is fully fenced. Great area close to major streets, shopping, grocery stores, and entertainment.

5. 2013-05-28
   historical 499-char remark

   Show marketing remark (499 chars)

   Small is Big! This 2 bedroom is packed with big features like maintenance-free aluminum siding, hardwood floors, updated colors, spacious kitchen, nice sized bedrooms, full basement for storage or more room, central air, and the big surprise-- a fully enclosed 285 sq. foot sunroom for relaxing and enjoying the weather! You will fall in love as soon as you walk in the front door. Nice big yard which is fully fenced. Great area close to major streets, shopping, grocery stores, and entertainment.

6. 2013-04-01
   listed $78,763 499-char remark

   Show marketing remark (499 chars)

   Small is Big! This 2 bedroom is packed with big features like maintenance-free aluminum siding, hardwood floors, updated colors, spacious kitchen, nice sized bedrooms, full basement for storage or more room, central air, and the big surprise-- a fully enclosed 285 sq. foot sunroom for relaxing and enjoying the weather! You will fall in love as soon as you walk in the front door. Nice big yard which is fully fenced. Great area close to major streets, shopping, grocery stores, and entertainment.

7. 2002-05-29
   soldstatus $65,000

ⓘ 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: $1,687 · $141/mo
• Projected year-2 tax: $2,249 · $187/mo
• Expected delta: +$562/yr (+$47/mo · 33.3%)

ⓘ 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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,090
• − Mortgage interest: −$7,282
• − Property taxes: −$1,687
• − Insurance: −$650
• − Repairs & maintenance: −$1,287
• − Management: −$1,287
• − Depreciation: −$3,782
• Taxable income: $114
• Est. tax owed @ 24.0%: −$27
• After-tax cash flow: $2,165/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): 36,673
• Household income: $60,549
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 1738.0

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: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 50% Black 23% Asian 12% Two or more races 11% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Slovak 2% Lithuanian 2% Romanian 2%
• Foreign-born: 13% · Philippines, Canada, India
• Languages at home: 83% English-only · Other Asian/Pacific 8% Spanish 5% Other Indo-European 2%

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: ▼ -196.54%
• Current HPI: 298.8625
• Rent YoY: ▲ 2.35%
• 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

+100.0% since first listed

7 events — show timeline

• 2026-05-20 Pending — GPRMLS
• 2026-05-19 Listed $130,000 GPRMLS
• 2013-06-28 Sold (Public Records) $77,000 Public Records
• 2013-06-26 Sold (MLS) $77,000 GPRMLS
• 2013-05-28 Listing Removed — GPRMLS
• 2013-04-01 Listed $78,763 GPRMLS
• 2002-05-29 Sold (Public Records) $65,000 Public Records

Property tax history

+2.2%/yr

Latest (2025): $1,687 · +2.2% YoY. Source: county tax records.