13956 Hickory Cir

Omaha, NE 68144

$295,000D-

3 bd · 2.0 ba · 1,687 sqft · Built 2018 · Other · Pending · 20 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,859/mo
• Mortgage (P&I): −$1,547
• Tax + insurance: −$491
• HOA: −$0
• Vac / Maint / Mgmt: −$390
• Net cashflow: $-569/mo
• Annual: $-6,831/yr
• Cap rate: 3.98%
• Cash-on-cash: -8.27%
• DSCR: 0.63
• 1% rule: 0.63%
• Cash to close: $82,600

Investor read

• This is a 3-bed/2.0-bath other listed at $295k.
• At list price, monthly cash flow is $-569 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $194k (34.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $186k (37.0% below list).
• It's been on market 20 days — a 2% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $186k (37.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• 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.
• Millard Public Schools (urban): math 58% / reading 60% proficiency, ranked #13 of 111 in NE (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 13% free/reduced lunch — higher-income household profile.
• Zoned schools: Montclair Elementary School (math 48% / reading 56%, grade C-, #200 of 502 statewide, top 46%, 592 students, 30% FRL); Millard North Middle School (math 51% / reading 57%, grade B-, #38 of 128 statewide, top 31%, 790 students, 29% FRL); Millard North High School (math 61% / reading 66%, grade B-, #37 of 261 statewide, top 14%, 2,573 students, 22% FRL).
• Market conditions: Rents rising (+1.9%/yr); 110 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 4,539 units permitted in Douglas County in 2024 (2,583 in 5+ unit buildings).
• Douglas County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.
• 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.
• 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.