3906 Ames Ave · Omaha, NE 68111

$136,000

3 bd · 1.0 ba · 814 sqft · Other public records · 89 Days on market

Built 1922 6,534 sqft lot ↓ 18% since listing

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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 +20.6/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.5/10.0
• 1% rule +4.6/10.0
• Livability +4.2/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0

Listing remarks MLS

Come check out this cozy 2-bedroom, 1-bath home with Off-Street Parking! Whether you are an Investor looking to expand your portfolio or first-time home buyer, you have found the one! All you have to do is Move-In! The roof and water heater were just replaced 2 years ago. Super close to grocery stores, parks, and Metro Community College and right across the street from some Delicious Ribs. Don't miss this opportunity to own a home in a great location! Newer Refrigerator and stove will stay. Home is being Sold As-Is, with seller to make no repairs. Roof and water heater were replaced 2 years ago. All measurements approximate.

Key facts

• Close to parks
• Newer refrigerator
• Off-street parking

Tags

• OFF-STREET PARKING
• ROOF REPLACED
• WATER HEATER REPLACED
• CLOSE TO GROCERY STORES
• CLOSE TO PARKS
• NEWER REFRIGERATOR

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $136k.

Deal economics

• At list price, monthly cash flow is $182 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $130k (4.0% below list).
• Recommended offer: $128k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.9% 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.
• Market conditions: Rents rising (+3.2%/yr); 140 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 4,539 units permitted in Douglas County in 2024 (2,583 in 5+ unit buildings).
• This rent runs 37% of the median local income ($42k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $15k of equity ($940 loan paydown + $14k appreciation (10.0% local appreciation)).
• Douglas County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.2% rent growth), your $38k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 89 days — a 6% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $127,840 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1922 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.96% ✗
• Cap rate: 7.89%
• Cash-on-cash: 5.72%
• DSCR: 1.25
• GRM: 8.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.22% rent growth · sell at horizon

5-year hold

• IRR: 28.5%
• Equity multiple: 3.26×
• Total profit: $85,884
• Equity at exit: $122,520

10-year hold

• IRR: 24.9%
• Equity multiple: 7.42×
• Total profit: $244,345
• Equity at exit: $264,218

Cash invested: $38,080 (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 68111

• Home prices YoY: 4.0%
• Rents YoY: 3.2%
• Active inventory: 140
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,305 high
• Mortgage (P&I): −$713
• Tax from tax record: −$80 /mo · $955/yr
• Insurance: −$57
• HOA: −$0
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $182

Break-even live

Break-even rent $1,075

Max offer price $136,000

Occupancy floor 81%

Sensitivity live

Price	-10% $259	-5% $220	+0% $182	+5% $143	+10% $105
Rent	-10% $78	-5% $130	+0% $182	+5% $233	+10% $285
Rate	-1.0pp $250	-0.5pp $216	base $182	+0.5pp $146	+1.0pp $110

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: $34,000
• Closing costs: $4,080
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3356 N 41st St Omaha, NE	2.0	1.0	720	$1,295	$1.80	24d	1	0.70mi
3323 N 40th St Omaha, NE	2.0	1.0	1000	$1,575	$1.57	4d	1	0.74mi
3941 Himebaugh Ave Omaha, NE	2.0	1.0	720	$1,350	$1.88	24d	1	0.77mi
3674 Bedford Ave Omaha, NE	3.0	1.0	864	$1,275	$1.48	24d	1	0.78mi
4112 N 48th St Omaha, NE	2.0	1.0	825	$899	$1.09	11d	2	0.81mi
4112 N 48th St Unit 3 Omaha, NE	2.0	1.0	800	$850	$1.06	24d	1	0.81mi
4112 N 48th St Unit 2 Omaha, NE	2.0	1.0	800	$899	$1.12	24d	1	0.81mi
3425 N 45th St Omaha, NE	2.0	1.0	872	$1,500	$1.72	15d	1	0.83mi
4844 Taylor St Apt 4 Omaha, NE	2.0	1.0	750	$925	$1.23	24d	1	0.85mi
4852 Boyd St Omaha, NE	2.0	2.0	912	$1,500	$1.64	44d	1	0.88mi
4918 Ames Ave Unit 17 Omaha, NE	2.0	1.5	1074	$850	$0.79	24d	1	0.89mi
4460 Redman Ave Omaha, NE	3.0	1.0	750	$950	$1.27	44d	1	0.92mi
4470 Redman Ave Unit 4470A Omaha, NE	2.0	1.5	980	$1,050	$1.07	11d	1	0.93mi
5922 N 28th Ave Omaha, NE	2.0	1.0	764	$950	$1.24	4d	1	1.23mi
2873 Kansas Ave Omaha, NE	3.0	2.0	1112	$1,450	$1.30	24d	1	1.25mi
4314 N 52nd St Omaha, NE	3.0	1.0	780	$945	$1.21	15d	1	1.28mi
4018 Bauman Ave Omaha, NE	3.0	1.0	925	$1,380	$1.49	44d	1	1.28mi
3502 Lake St Omaha, NE	2.0	1.0	974	$995	$1.02	3d	1	1.29mi
5119 Pratt St Omaha, NE	3.0	1.0	1008	$1,900	$1.88	44d	1	1.30mi
4874 Maple St Omaha, NE	3.0	1.0	1098	$1,545	$1.41	44d	1	1.34mi
2305 John a Creighton Blvd Omaha, NE	2.0	1.0	672	$1,200	$1.79	22d	1	1.38mi
4625 N 56th St Apt 18 Omaha, NE	2.0	1.0	700	$875	$1.25	44d	1	1.49mi

Listing history 6 events

1. 2026-03-16
   price $136,000 632-char remark

   Show marketing remark (632 chars)

   Come check out this cozy 2-bedroom, 1-bath home with Off-Street Parking! Whether you are an Investor looking to expand your portfolio or first-time home buyer, you have found the one! All you have to do is Move-In! The roof and water heater were just replaced 2 years ago. Super close to grocery stores, parks, and Metro Community College and right across the street from some Delicious Ribs. Don't miss this opportunity to own a home in a great location! Newer Refrigerator and stove will stay. Home is being Sold As-Is, with seller to make no repairs. Roof and water heater were replaced 2 years ago. All measurements approximate.

2. 2026-02-26
   listed $140,000 New 632-char remark

   Show marketing remark (632 chars)

   Come check out this cozy 2-bedroom, 1-bath home with Off-Street Parking! Whether you are an Investor looking to expand your portfolio or first-time home buyer, you have found the one! All you have to do is Move-In! The roof and water heater were just replaced 2 years ago. Super close to grocery stores, parks, and Metro Community College and right across the street from some Delicious Ribs. Don't miss this opportunity to own a home in a great location! Newer Refrigerator and stove will stay. Home is being Sold As-Is, with seller to make no repairs. Roof and water heater were replaced 2 years ago. All measurements approximate.

3. 2026-02-19
   historical
4. 2025-12-08
   price $145,000
5. 2025-11-11
   price $155,000
6. 2025-10-10
   listed $165,000 New

ⓘ 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: $955 · $80/mo
• Projected year-2 tax: $2,353 · $196/mo
• Expected delta: +$1,398/yr (+$117/mo · 146.4%)

ⓘ 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 ≥105°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: $15,660
• − Mortgage interest: −$7,618
• − Property taxes: −$955
• − Insurance: −$680
• − Repairs & maintenance: −$1,253
• − Management: −$1,253
• − Depreciation: −$3,956
• Taxable loss: −$55
• Est. tax savings @ 24.0%: +$13
• After-tax cash flow: $2,191/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): 24,210
• Household income: $42,185
• Rent vs Own: 60.3% rent · 39.7% own
• Severe rent burden: 1913.0

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 0.65)
• Race & ethnicity: Black 52% Hispanic / Latino 21% White 17% Two or more races 15% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Ukrainian 3% Lithuanian 0%
• Foreign-born: 14% · Canada, Philippines
• Languages at home: 75% English-only · Spanish 16% Other Asian/Pacific 3% French/Haitian/Cajun 1%

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: ▲ 13.82%
• Current HPI: 358.7174
• Rent YoY: ▲ 3.22%
• 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

-17.6% since first listed

6 events — show timeline

• 2026-03-16 Price Changed $136,000 GPRMLS
• 2026-02-26 Listed $140,000 GPRMLS
• 2026-02-19 Listing Removed — GPRMLS
• 2025-12-08 Price Changed $145,000 GPRMLS
• 2025-11-11 Price Changed $155,000 GPRMLS
• 2025-10-10 Listed $165,000 GPRMLS

Property tax history

+4.5%/yr

Latest (2025): $955 · +1.5% YoY. Source: county tax records.