201 W Treehaven Dr · Lincoln, NE 68521

$45,000

2 bd · 2.0 ba · 784 sqft · Manufactured · 25 Days on market

Built 2018 Good condition Est $33k · 37% over $633/mo HOA · 47% of rent

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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 +27.3/30.0
• 1% rule +10.0/10.0
• DSCR +9.5/10.0
• Schools +4.4/10.0
• Livability +4.2/5.0
• Condition / age +3.8/5.0
• Rent growth +3.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Great opportunity for affordable living in Contempo Park! This well-maintained mobile home, built in 2018 and lovingly cared for by its original owner, offers comfortable and low-maintenance living. Featuring 2 bedrooms and 2 bathrooms, the home boasts a functional layout with plenty of natural light and inviting living spaces. Enjoy the convenience of two off-street parking spaces, and all appliances, including the washer and dryer, are included with the sale. Don’t miss your chance to own this charming property!

Key facts

• Built 2018
• Listed 24 days

Property features AI

Finance

• Other: Living area listed as 784 square feet
• HOA & community: Homeowners association with a monthly fee of $633

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Residential mobile home; Not new / not a model; Single-story (main floor living); Built in 2018
• Construction: No foundation specified
• Exterior features: Deck

Interior

• Bedrooms: Master bedroom on the main floor; Second bedroom on the main floor
• Bathrooms: Two full bathrooms, both on the main floor
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: No fireplaces; No basement

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $45k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $130 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $44k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.8% 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.
• Zoned schools: Belmont Elementary School (math 34% / reading 44%, grade F, #371 of 502 statewide, top 74%, 814 students, 0% FRL); Goodrich Middle School (math 38% / reading 36%, grade F, #99 of 128 statewide, top 79%, 877 students, 78% FRL); Lincoln Northeast High School (math 34% / reading 36%, grade F, #207 of 261 statewide, top 79%, 1,812 students, 62% FRL).
• Zoned-school proficiency averages 37% at this address vs 52% district-wide (-14 pts) — the specific schools serving this property underperform the Lincoln Public Schools average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+4.0%/yr); 366 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 1,940 units permitted in Lancaster County in 2024 (895 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $311 of loan paydown is wiped out by about $1k 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 + 4.0% rent growth), your $13k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($44k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 47% of rent.

Recommended offer $44,325 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 3.02% ✓
• Cap rate: 9.77%
• Cash-on-cash: 12.42%
• DSCR: 1.55
• GRM: 2.8

CMA / ARV

• ARV (on-the-fly): $32,928
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
205 W Treehaven Dr	0.01mi	2/2.0	840 (+7%)	2mo	$37,000	$44	86
3619 NW Palm Ct	0.13mi	2/1.0	784 (0%)	9mo	$26,000	$33	83
3619 NW Magnolia Ct	0.25mi	2/2.0	840 (+7%)	19mo	$35,000	$42	61

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 · 4.04% rent growth · sell at horizon

5-year hold

• IRR: 5.6%
• Equity multiple: 1.23×
• Total profit: $2,864
• Equity at exit: $6,710

10-year hold

• IRR: 17.6%
• Equity multiple: 2.66×
• Total profit: $20,882
• Equity at exit: $3,891

Cash invested: $12,600 (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 68521

• Home prices YoY: -34.1%
• Rents YoY: 4.0%
• Active inventory: 366
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,360 high
• Mortgage (P&I): −$236
• Tax est. 1.5%: −$56 /mo · $675/yr
• Insurance: −$19
• HOA: −$633
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $130

Break-even live

Break-even rent $1,195

Max offer price $45,000

Occupancy floor 85%

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2900 N 1st St Lincoln, NE	2.0–3.0	1.0–2.0	1061	$945	$0.89	43d	3	0.33mi
2700 N 1st St #2 Lincoln, NE	2.0	1.0	897	$1,095	$1.22	21d	1	0.49mi
4441 N 1st St Lincoln, NE	3.0	1.0–2.0	853	$1,490	$1.75	13d	39	0.50mi
North Pointe Villas Lincoln, NE	3.0	1.0–2.0	1022	$1,919	$1.88	13d	25	0.55mi
2636 N 4th St Unit 2636 Lincoln, NE	3.0	2.0	1060	$1,595	$1.50	43d	1	0.65mi
2635 N 5th St Unit 2635 Lincoln, NE	3.0	2.0	1060	$1,595	$1.50	43d	1	0.66mi
830 Judson St Lincoln, NE	3.0	1.0	816	$1,700	$2.08	43d	1	0.69mi
4231 N 7th St Lincoln, NE	1.0	1.0	772	$1,049	$1.36	13d	7	0.71mi
535 W Saunders Ave Unit 3 Lincoln, NE	2.0	1.0	889	$945	$1.06	43d	1	0.78mi
2521 N 9th St Lincoln, NE	1.0–2.0	1.0–2.0	700	$999	$1.43	13d	4	0.86mi
4420 N 7th St Lincoln, NE	1.0–2.0	1.0–2.0	881	$1,092	$1.24	13d	17	0.86mi
4730 Innovation Dr Lincoln, NE	2.0	1.0–2.5	873	$1,800	$2.06	13d	1	0.88mi
3201 N 12th St Lincoln, NE	3.0	1.0	928	$1,250	$1.35	13d	1	0.97mi
1205 Adams St Lincoln, NE	2.0	1.0	875	$1,350	$1.54	43d	1	1.01mi
5265 NW 12th St Lincoln, NE	2.0	1.0–2.0	932	$1,895	$2.03	13d	15	1.36mi
1501 Superior St Lincoln, NE	1.0–2.0	1.0–2.0	818	$1,211	$1.48	13d	11	1.39mi
1800 Knox St Unit 1830 Lincoln, NE	2.0	1.0	857	$975	$1.14	21d	1	1.43mi
1800 Knox St Unit 1800-26 Lincoln, NE	2.0	1.0	857	$1,075	$1.25	43d	1	1.43mi

HOA detail

• Monthly dues: $633 · $7,596/yr

Listing history 16 events

1. 2026-06-18
   days on market $45,000 Active 25 DOM
2. 2026-06-17
   days on market $45,000 Active 24 DOM
3. 2026-06-16
   days on market $45,000 Active 23 DOM
4. 2026-06-15
   days on market $45,000 Active 22 DOM
5. 2026-06-14
   days on market $45,000 Active 20 DOM
6. 2026-06-10
   days on market $45,000 Active 17 DOM
7. 2026-06-09
   days on market $45,000 Active 16 DOM
8. 2026-06-08
   days on market $45,000 Active 15 DOM
9. 2026-06-07
   days on market $45,000 Active 14 DOM
10. 2026-06-05
    days on market $45,000 Active 11 DOM
11. 2026-06-03
    days on market $45,000 Active 10 DOM
12. 2026-06-02
    days on market $45,000 Active 9 DOM
13. 2026-06-01
    days on market $45,000 Active 8 DOM
14. 2026-05-31
    days on market $45,000 Active 7 DOM
15. 2026-05-30
    statusdays on market $45,000 Active 6 DOM
16. 2026-05-24
    listed $45,000 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 ≥105°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: $16,320
• − Mortgage interest: −$2,521
• − Property taxes: −$675
• − Insurance: −$225
• − Repairs & maintenance: −$1,306
• − Management: −$1,306
• − HOA: −$7,596
• − Depreciation: −$1,309
• Taxable income: $1,383
• Est. tax owed @ 24.0%: −$332
• After-tax cash flow: $1,233/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.

Condition & rehab AI · 28 photos

Good 75/100 Cosmetic rehab

This well-maintained mobile home offers a good investment opportunity with minor cosmetic updates needed to enhance its resale and rental value.

Repairs flagged

• Minor Kitchen cabinets — Aesthetic upgrade needed.
• Minor Bathroom fixtures — Update to modernize space.
• Minor Exterior siding — Some discoloration, touch-up needed.
• Minor Interior walls — Painting and touch-up needed for fresh look.

Value-add opportunities

• Both Painting and updating kitchen cabinets — Enhances curb appeal and interior aesthetics.
• Both Updating bathroom fixtures and tile — Improves functionality and appearance.
• Both Landscaping and curb appeal improvements — Enhances overall property value and appeal.
• Both Upgrading appliances — Modernizes the home and improves functionality.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Aesthetic upgrade needed.	Minor	$500–3,000
Bathroom fixtures · Update to modernize space.	Minor	$500–3,000
Exterior siding · Some discoloration, touch-up needed.	Minor	$500–3,000
Interior walls · Painting and touch-up needed for fresh look.	Minor	$500–3,000
Total estimated repair cost · 4 items		$2,000–12,000

Value-add ROI direction

• Both Painting and updating kitchen cabinets — Enhances curb appeal and interior aesthetics. ↑
• Both Updating bathroom fixtures and tile — Improves functionality and appearance. ↑
• Both Landscaping and curb appeal improvements — Enhances overall property value and appeal. ↑
• Both Upgrading appliances — Modernizes the home and improves functionality. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 37,050
• Household income: $67,483
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 1500.0

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: Predominantly White (70%)
• Race & ethnicity: White 70% Hispanic / Latino 12% Asian 8% Two or more races 7% Black 5%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 2% Arab 2% Italian 2%
• Foreign-born: 15% · Vietnam, Canada, United Kingdom
• Languages at home: 78% English-only · Spanish 9% Vietnamese 6% Arabic 3%

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: ▼ -124.30%
• Current HPI: 239.8394
• Rent YoY: ▲ 4.04%
• 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

1 event — show timeline

• 2026-05-24 Listed $45,000 GPRMLS