1319 S 51st St · Omaha, NE 68106

$50,000

2 bd · 1.0 ba · 756 sqft · SingleFamily public records · 3 Days on market

Built 1950 5,663 sqft lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Great potential in midtown. Home is "sold as-is, where-is" with all contents.

Key facts

• 5,663 sq ft lot
• Built 1950
• Listed 3 days

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property; Not new / not a model
• Construction: Built in 1950; Block foundation; Composition roof
• Exterior features: City lot up to 1/4 acre; Lot dimensions approximately 106 x 56; Lot included in price

Interior

• Bedrooms: Master bedroom on the main floor; Additional bedroom(s) on the main floor
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Natural gas forced-air heating
• Interior features: Full, unfinished basement; No fireplaces

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $690 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Cap rate 22.9% 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.
• Zoned schools: Washington Elementary School (math 32% / reading 47%, grade F, #346 of 502 statewide, top 74%, 311 students, 0% FRL); Lewis & Clark Middle School (math 23% / reading 35%, grade F, #115 of 128 statewide, top 90%, 860 students, 0% FRL); Central High School (math 29% / reading 40%, grade F, #208 of 261 statewide, top 86%, 2,738 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 fast (+4.3%/yr); 87 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 $346 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 4.3% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $50,000

Questions for the listing agent

1. Built in 1950 — 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: 2.62% ✓
• Cap rate: 22.86%
• Cash-on-cash: 59.18%
• DSCR: 3.63
• GRM: 3.2

CMA / ARV

• ARV (on-the-fly): $176,148
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5220 Poppleton Ave	0.21mi	2/1.0	768 (+2%)	12mo	$175,000	$228	78
1915 S 50th Ave	0.37mi	2/1.5	806 (+7%)	8mo	$199,000	$247	63
975 S 50th Ave	0.25mi	2/1.0	715 (-5%)	22mo	$187,000	$262	61
4954 Mayberry St	0.35mi	1/1.0 (-1)	714 (-6%)	11mo	$153,000	$214	60
4912 Woolworth Ave	0.21mi	2/2.0	866 (+15%)	6mo	$199,000	$230	57
2130 S 49 St	0.56mi	2/1.0	792 (+5%)	13mo	$155,000	$196	55
2109 S 48 St	0.58mi	1/1.0 (-1)	740 (-2%)	15mo	$176,000	$238	52
1907 S 48 Ave	0.45mi	2/1.0	720 (-5%)	24mo	$168,000	$233	51
2112 S 49th St	0.51mi	3/1.0 (+1)	864 (+14%)	3mo	$212,000	$245	44
1940 S 47th St	0.57mi	2/1.0	861 (+14%)	8mo	$169,000	$196	44
4415 Barker Ave	0.69mi	2/1.0	840 (+11%)	23mo	$220,000	$262	30

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 · 4.26% rent growth · sell at horizon

5-year hold

• IRR: 59.3%
• Equity multiple: 3.68×
• Total profit: $37,572
• Equity at exit: $7,455

10-year hold

• IRR: 64.5%
• Equity multiple: 7.89×
• Total profit: $96,504
• Equity at exit: $4,323

Cash invested: $14,000 (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 68106

• Rents YoY: 4.3%
• Active inventory: 87
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,311 high
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $750/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$275
• Net cashflow: $690

Break-even live

Break-even rent $437

Max offer price $50,000

Occupancy floor 42%

Sensitivity live

Price	-10% $725	-5% $708	+0% $690	+5% $673	+10% $656
Rent	-10% $587	-5% $639	+0% $690	+5% $742	+10% $794
Rate	-1.0pp $716	-0.5pp $703	base $690	+0.5pp $677	+1.0pp $664

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
996 S 50th St Omaha, NE	2.0	1.0	1000	$1,550	$1.55	4d	1	0.22mi
2108 S 45th St Omaha, NE	2.0	1.0	850	$1,300	$1.53	45d	1	0.72mi
1915 S 44th St Omaha, NE	1.0	1.0	560	$805	$1.44	4d	4	0.84mi
4216 Frances St Unit 58 Omaha, NE	1.0	1.0	560	$775	$1.38	24d	1	0.89mi
4206 Frances St Unit 02 Omaha, NE	2.0	1.0	850	$895	$1.05	15d	1	0.90mi
4206 Frances St Unit 25 Omaha, NE	2.0	1.0	850	$900	$1.06	45d	1	0.90mi
4206 Frances St Unit 17 Omaha, NE	1.0	1.0	560	$775	$1.38	45d	1	0.90mi
4206 Frances St Unit 09 Omaha, NE	1.0	1.0	560	$825	$1.47	4d	1	0.90mi
4835 Dodge St Omaha, NE	2.0	1.0–2.0	752	$1,699	$2.26	3d	4	0.96mi
2137 S 42nd St Apt 1 Omaha, NE	2.0	2.0	710	$1,225	$1.73	45d	1	1.00mi
2137 S 42nd St Apt 5 Omaha, NE	1.0	1.0	550	$895	$1.63	24d	1	1.00mi
4647 Dodge St Omaha, NE	2.0	1.0–2.0	775	$2,850	$3.68	24d	32	1.01mi
2520 S 60th St Apt 21 Omaha, NE	1.0	1.0	660	$995	$1.51	24d	1	1.01mi
2520 S 60th St Omaha, NE	2.0	1.0	995	$1,450	$1.46	13d	1	1.03mi
2225 S 64th Plz Omaha, NE	2.0	1.0–2.0	905	$2,795	$3.09	3d	30	1.10mi
201 N 46th St Omaha, NE	2.0	1.0–2.0	825	$1,895	$2.30	4d	40	1.11mi
2323 S 63rd St Omaha, NE	2.0	1.0–2.0	854	$2,230	$2.61	15d	9	1.12mi
4903 Chicago St Omaha, NE	1.0–2.0	1.0–2.0	1100	$1,250	$1.14	22d	1	1.12mi
406 N 49th St Unit 5 Omaha, NE	2.0	2.0	1000	$1,199	$1.20	24d	1	1.16mi
3738 Frances St Apt 11 Omaha, NE	1.0	1.0	600	$800	$1.33	45d	1	1.19mi
3738 Frances St Unit 10 Omaha, NE	1.0	1.0	600	$775	$1.29	15d	1	1.19mi
417 N 49th St Apt 1 Omaha, NE	1.0	1.0	600	$825	$1.38	45d	1	1.20mi
3420 S 50th St Omaha, NE	1.0	1.0	727	$902	$1.24	45d	1	1.21mi
4728 Chicago St Unit 10 Omaha, NE	2.0	1.0	800	$1,095	$1.37	4d	1	1.24mi
3819 Jones St #101 Omaha, NE	2.0	1.0	850	$959	$1.13	45d	1	1.24mi
3819 Jones St #204 Omaha, NE	1.0	1.0	800	$829	$1.04	45d	1	1.24mi
3819 Jones St Apt 102 Omaha, NE	2.0	1.0	850	$899	$1.06	45d	1	1.24mi
3819 Jones St Omaha, NE	2.0	1.0	850	$899	$1.06	13d	2	1.25mi
3819 Jones St #104 Omaha, NE	2.0	1.0	850	$899	$1.06	4d	1	1.25mi
814 S 38th St Omaha, NE	2.0	1.0	850	$1,495	$1.76	45d	1	1.25mi
3814 Leavenworth St Omaha, NE	2.0	1.0–2.0	818	$1,920	$2.35	24d	19	1.26mi
4723 Cass St Omaha, NE	1.0	1.0	630	$895	$1.42	13d	1	1.26mi
5016 California St #12 Omaha, NE	2.0	2.0	1084	$1,600	$1.48	24d	1	1.27mi
6226 Oak St Omaha, NE	2.0	1.0	1025	$1,825	$1.78	4d	1	1.27mi
4916 California St Unit 10 Omaha, NE	1.0	1.0	525	$775	$1.48	20d	1	1.28mi
121 N 43rd St Unit 1 Omaha, NE	1.0	1.0	536	$1,250	$2.33	45d	1	1.28mi
4903 Underwood Ave Unit 11 Omaha, NE	2.0	1.0	950	$1,300	$1.37	45d	1	1.30mi
620 S 38th St Omaha, NE	1.0–2.0	1.0–2.0	816	$1,092	$1.34	15d	2	1.31mi
3815 Dewey Ave Omaha, NE	1.0	1.0	725	$1,299	$1.79	4d	1	1.33mi
3871 Farnam St Unit 4A Omaha, NE	2.0	1.0	750	$850	$1.13	24d	1	1.33mi

Listing history 2 events

1. 2026-05-15
   status Pending
2. 2026-05-12
   listed $50,000 New

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $15,736
• − Mortgage interest: −$2,801
• − Property taxes: −$750
• − Insurance: −$250
• − Repairs & maintenance: −$1,259
• − Management: −$1,259
• − Depreciation: −$1,455
• Taxable income: $7,963
• Est. tax owed @ 24.0%: −$1,911
• After-tax cash flow: $6,374/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): 21,224
• Household income: $69,806
• Rent vs Own: 48.9% rent · 51.1% own
• Severe rent burden: 1402.0

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 White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 13% Two or more races 8% Black 7% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Romanian 4% Slovak 2% Portuguese 2%
• Foreign-born: 11% · Canada, United Kingdom, Jamaica
• Languages at home: 84% English-only · Spanish 9% Other Indo-European 2% 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: ▼ -268.80%
• Current HPI: 261.1403
• Rent YoY: ▲ 4.26%
• 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

• 2026-05-15 Pending — GPRMLS
• 2026-05-12 Listed $50,000 GPRMLS