3268 Y St · Lincoln, NE 68503

$260,000

4 bd · 3.0 ba · 3,082 sqft · MultiFamily public records · 73 Days on market

Built 1976 6,534 sqft lot $84/sqft · 25% below area Est $340k · 23% under ↓ 4% since listing

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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 +29.1/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.5/10.0
• Schools +4.4/10.0
• Livability +4.2/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Experienced investors! Great income producing 1 story duplex. Close to the University. Both units are 3 bed 2 bath with a basement. Property is being sold as is. Schedule your showing today!

Key facts

• 6,534 sq ft lot
• Built 1976
• Listed 73 days

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $260k.

Deal economics

• At list price, monthly cash flow is $900 ($11k/yr) — positive. Per door: $450/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $260k).
• Recommended offer: $244k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.4% 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.
• Market conditions: Rents rising (+2.4%/yr); 56 active listings in the ZIP; 1,940 units permitted in Lancaster County in 2024 (895 in 5+ unit buildings).
• At $3,238/mo this rent would consume 72% of the median local household income ($54k/yr) (locally 820% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 + 2.4% rent growth), your $73k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($244k) 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.

Recommended offer $244,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.25% ✓
• Cap rate: 10.45%
• Cash-on-cash: 14.84%
• DSCR: 1.66
• GRM: 6.7

CMA / ARV

• ARV (median comp): $339,587
• List price: $260,000
• Delta: -23.44%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2846 Q St	0.68mi	4/4.0	3,324 (+8%)	14mo	$325,000	$98	40

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 · 2.39% rent growth · sell at horizon

5-year hold

• IRR: 4.7%
• Equity multiple: 1.18×
• Total profit: $13,199
• Equity at exit: $38,767

10-year hold

• IRR: 13.6%
• Equity multiple: 2.06×
• Total profit: $77,176
• Equity at exit: $22,480

Cash invested: $72,800 (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 68503

• Rents YoY: 2.4%
• Active inventory: 56
• Price-to-rent: 13.4×

Monthly cashflow live

• Estimated rent: $3,238 high
• Mortgage (P&I): −$1,363
• Tax from tax record: −$186 /mo · $2,231/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$680
• Net cashflow: $900

Break-even live

Break-even rent $2,098

Max offer price $260,000

Occupancy floor 67%

Sensitivity live

Price	-10% $1,048	-5% $974	+0% $900	+5% $827	+10% $753
Rent	-10% $645	-5% $772	+0% $900	+5% $1,028	+10% $1,156
Rate	-1.0pp $1,031	-0.5pp $966	base $900	+0.5pp $833	+1.0pp $764

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,238
Total (2 units)			$3,238

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $260,000 Active 73 DOM
2. 2026-06-17
   days on market $260,000 Active 72 DOM
3. 2026-06-16
   days on market $260,000 Active 71 DOM
4. 2026-06-15
   days on market $260,000 Active 70 DOM
5. 2026-06-14
   days on market $260,000 Active 68 DOM
6. 2026-06-10
   days on market $260,000 Active 65 DOM
7. 2026-06-09
   days on market $260,000 Active 64 DOM
8. 2026-06-08
   days on market $260,000 Active 63 DOM
9. 2026-06-07
   days on market $260,000 Active 62 DOM
10. 2026-06-05
    days on market $260,000 Active 59 DOM
11. 2026-06-03
    days on market $260,000 Active 58 DOM
12. 2026-06-02
    days on market $260,000 Active 57 DOM
13. 2026-06-01
    days on market $260,000 Active 56 DOM
14. 2026-05-31
    days on market $260,000 Active 55 DOM
15. 2026-05-30
    days on market $260,000 Active 54 DOM
16. 2026-04-06
    listed $260,000 New 190-char remark

    Show marketing remark (190 chars)

    Experienced investors! Great income producing 1 story duplex. Close to the University. Both units are 3 bed 2 bath with a basement. Property is being sold as is. Schedule your showing today!

17. 2026-04-06
    historical

    Show marketing remark (190 chars)

    Experienced investors! Great income producing 1 story duplex. Close to the University. Both units are 3 bed 2 bath with a basement. Property is being sold as is. Schedule your showing today!

18. 2026-03-23
    listed $270,000 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: $2,231 · $186/mo
• Projected year-2 tax: $4,498 · $375/mo
• Expected delta: +$2,267/yr (+$189/mo · 101.6%)

ⓘ 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 4/10 Moderate 7 d/yr ≥104°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: $38,856
• − Mortgage interest: −$14,564
• − Property taxes: −$2,231
• − Insurance: −$1,300
• − Repairs & maintenance: −$3,108
• − Management: −$3,108
• − Depreciation: −$7,564
• Taxable income: $6,981
• Est. tax owed @ 24.0%: −$1,675
• After-tax cash flow: $9,129/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: 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): 15,867
• Household income: $54,232
• Rent vs Own: 61.1% rent · 38.9% own
• Severe rent burden: 820.0

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: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 59% Hispanic / Latino 12% Black 12% Two or more races 10% Asian 10%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Lithuanian 2% Romanian 2% Portuguese 2%
• Foreign-born: 19% · Canada, Vietnam, China
• Languages at home: 73% English-only · Spanish 7% Other Indo-European 5% Vietnamese 5%

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: ▼ -145.46%
• Current HPI: 260.3421
• Rent YoY: ▲ 2.39%
• 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

-3.7% since first listed

3 events — show timeline

• 2026-04-06 Listing Removed — GPRMLS
• 2026-04-06 Listed $260,000 GPRMLS
• 2026-03-23 Listed $270,000 GPRMLS

Property tax history

-1.6%/yr

Latest (2025): $2,231 · -15.1% YoY. Source: county tax records.