13205 Carpenter St · Papillion, NE 68138

$185,000

3 bd · 1.0 ba · 1,616 sqft · Condo public records · 65 Days on market

Built 1973 $114/sqft · 22% below area Est $178k · at est. $270/mo HOA · 12% 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 +19.8/30.0
• 1% rule +6.9/10.0
• DSCR +6.3/10.0
• ARV discount +5.7/15.0
• Schools +5.2/10.0
• Livability +4.2/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious 3-bed, 2-bath Westmont townhome offering 1,616 sq ft of comfortable living across two levels. Bright main level features an eat-in kitchen opening to a private deck, while all three bedrooms upstairs include walk-in closets. Finished daylight basement provides flexible space for a family room or home office. Attached 1-car garage, patio, and wood-fenced yard. All appliances included — oven, refrigerator, washer, dryer, dishwasher, and microwave. Central air and natural gas heat. HOA covers roof, lawn care, snow removal, siding, lighting, and common-area maintenance. Enjoy neighborhood parks, the community pool, and proximity to Westmont Elementary. Easy access to S 144th St and Hwy 370 in southwest Omaha's active growth corridor, where new neighborhoods and amenities continue to emerge. Buyers are encouraged to research area development plans independently.

Key facts

• Private deck
• Flexible space
• Wood-fenced yard

Tags

• EAT-IN KITCHEN
• PRIVATE DECK
• WALK-IN CLOSETS
• FINISHED DAYLIGHT BASEMENT
• FLEXIBLE SPACE
• WOOD-FENCED YARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath condo listed at $185k.

Deal economics

• At list price, monthly cash flow is $219 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $185k).
• Recommended offer: $174k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 2.6% in Papillion — 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 (#4 in NE, #482 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: amenities D-, commute F.
• Springfield Platteview Community Schools (rural): math 56% / reading 60% proficiency, ranked #18 of 111 in NE (top 16%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 12% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+3.7%/yr); 71 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,612 units permitted in Sarpy County in 2024 (364 in 5+ unit buildings).
• This rent runs 31% of the median local income ($86k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Sarpy County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($174k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 16y ago 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 $173,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 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 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. 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.
9. 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.
10. 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: 1.19% ✓
• Cap rate: 7.72%
• Cash-on-cash: 5.08%
• DSCR: 1.23
• GRM: 7.0

CMA / ARV

• ARV (median comp): $177,881
• List price: $185,000
• Delta: 4.00%
• Verdict: FAIR
• Comps: 9 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.73% rent growth · sell at horizon

5-year hold

• IRR: -7.3%
• Equity multiple: 0.73×
• Total profit: $-14,189
• Equity at exit: $27,584

10-year hold

• IRR: 3.4%
• Equity multiple: 1.25×
• Total profit: $13,194
• Equity at exit: $15,995

Cash invested: $51,800 (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 68138

• Home prices YoY: -19.6%
• Rents YoY: 3.7%
• Active inventory: 71
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $2,210 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$209 /mo · $2,509/yr
• Insurance: −$77
• HOA: −$270
• Vacancy / Maint / Mgmt: −$464
• Net cashflow: $219

Break-even live

Break-even rent $1,932

Max offer price $185,000

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13178 Lincoln Rd Omaha, NE	2.0–4.0	2.0–3.5	1770	$2,245	$1.27	3d	6	0.91mi
13108 Lincoln Rd Omaha, NE	1.0–4.0	1.0–3.5	1584	$2,412	$1.52	3d	11	0.91mi
13041 Cornhusker Rd Omaha, NE	1.0–2.0	1.0–2.0	1222	$2,295	$1.88	3d	13	1.28mi

HOA detail condo

• Monthly dues: $270 · $3,240/yr
• Likely covers: gaslandscapingsnow removalpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 38 events

1. 2026-06-18
   days on market $185,000 Active 65 DOM
2. 2026-06-17
   days on market $185,000 Active 64 DOM
3. 2026-06-16
   days on market $185,000 Active 63 DOM
4. 2026-06-15
   days on market $185,000 Active 62 DOM
5. 2026-06-13
   days on market $185,000 Active 60 DOM
6. 2026-06-13
   days on market $185,000 Active 59 DOM
7. 2026-06-10
   days on market $185,000 Active 57 DOM
8. 2026-06-09
   days on market $185,000 Active 56 DOM
9. 2026-06-08
   days on market $185,000 Active 55 DOM
10. 2026-06-07
    days on market $185,000 Active 54 DOM
11. 2026-06-03
    days on market $185,000 Active 50 DOM
12. 2026-06-03
    pricedays on market $185,000 Active 49 DOM
13. 2026-06-01
    days on market $189,000 Active 48 DOM
14. 2026-05-31
    days on market $189,000 Active 47 DOM
15. 2026-04-14
    listed $189,000 New 884-char remark

    Show marketing remark (884 chars)

    Spacious 3-bed, 2-bath Westmont townhome offering 1,616 sq ft of comfortable living across two levels. Bright main level features an eat-in kitchen opening to a private deck, while all three bedrooms upstairs include walk-in closets. Finished daylight basement provides flexible space for a family room or home office. Attached 1-car garage, patio, and wood-fenced yard. All appliances included — oven, refrigerator, washer, dryer, dishwasher, and microwave. Central air and natural gas heat. HOA covers roof, lawn care, snow removal, siding, lighting, and common-area maintenance. Enjoy neighborhood parks, the community pool, and proximity to Westmont Elementary. Easy access to S 144th St and Hwy 370 in southwest Omaha's active growth corridor, where new neighborhoods and amenities continue to emerge. Buyers are encouraged to research area development plans independently.

16. 2026-01-24
    historical $1,900
17. 2026-01-05
    listed $1,900
18. 2025-12-19
    soldstatus $178,000 Sold 723-char remark

    Show marketing remark (723 chars)

    Maintenance-free Westmont townhome, priced for a quick sale and offered as-is! This spacious 3-bed, 2-bath residence offers about 1,616 sq ft of living space, with walk-in closets in every bedroom, a bright main level featuring an eat-in kitchen that opens to the deck, a finished lower-level family room, and an attached 1-car garage. Perfectly located near Westmont Elementary, neighborhood parks, the community pool, and with easy access to S 144th St. and Hwy 370. The HOA covers exterior maintenance, including roof, lawn care, snow removal, siding, neighborhood lighting, and common-area upkeep, delivering exceptional value and peace of mind. Convenience, comfort, and location, don’t miss this opportunity!

19. 2025-12-19
    soldstatus $183,538

    Show marketing remark (723 chars)

    Maintenance-free Westmont townhome, priced for a quick sale and offered as-is! This spacious 3-bed, 2-bath residence offers about 1,616 sq ft of living space, with walk-in closets in every bedroom, a bright main level featuring an eat-in kitchen that opens to the deck, a finished lower-level family room, and an attached 1-car garage. Perfectly located near Westmont Elementary, neighborhood parks, the community pool, and with easy access to S 144th St. and Hwy 370. The HOA covers exterior maintenance, including roof, lawn care, snow removal, siding, neighborhood lighting, and common-area upkeep, delivering exceptional value and peace of mind. Convenience, comfort, and location, don’t miss this opportunity!

20. 2025-11-12
    listed $190,000 New 723-char remark

    Show marketing remark (723 chars)

    Maintenance-free Westmont townhome, priced for a quick sale and offered as-is! This spacious 3-bed, 2-bath residence offers about 1,616 sq ft of living space, with walk-in closets in every bedroom, a bright main level featuring an eat-in kitchen that opens to the deck, a finished lower-level family room, and an attached 1-car garage. Perfectly located near Westmont Elementary, neighborhood parks, the community pool, and with easy access to S 144th St. and Hwy 370. The HOA covers exterior maintenance, including roof, lawn care, snow removal, siding, neighborhood lighting, and common-area upkeep, delivering exceptional value and peace of mind. Convenience, comfort, and location, don’t miss this opportunity!

21. 2025-11-07
    historical
22. 2025-10-18
    price $188,000
23. 2025-09-27
    price $192,000
24. 2025-09-14
    listed $197,000 New
25. 2022-08-22
    soldstatus $170,000
26. 2022-08-19
    soldstatus $170,000 Sold
27. 2022-06-25
    status Pending
28. 2022-06-22
    status Back On Market
29. 2022-06-18
    status Pending
30. 2022-01-09
    listed $150,000 Active - New
31. 2017-06-09
    soldstatus $115,000
32. 2017-06-08
    soldstatus $114,900 Sold
33. 2017-04-26
    status Pending
34. 2017-04-20
    listed $114,900 Active - New
35. 2010-08-31
    soldstatus $92,000
36. 2010-08-27
    soldstatus $91,500
37. 2010-08-16
    historical
38. 2010-01-11
    listed $94,900

ⓘ 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: $2,509 · $209/mo
• Projected year-2 tax: $3,200 · $267/mo
• Expected delta: +$691/yr (+$58/mo · 27.6%)

ⓘ 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 3/10 Moderate 7 d/yr ≥103°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: $26,516
• − Mortgage interest: −$10,363
• − Property taxes: −$2,509
• − Insurance: −$925
• − Repairs & maintenance: −$2,121
• − Management: −$2,121
• − HOA: −$3,240
• − Depreciation: −$5,382
• Taxable loss: −$145
• Est. tax savings @ 24.0%: +$35
• After-tax cash flow: $2,667/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: Springfield Platteview Community Schools
• NCES district ID: 3175630
• Math proficiency: 56% ▼ -13.00%
• Reading proficiency: 60% ▼ -5.00%
• Median HH income: $75,382
• Composite: 51.83/100
• National rank: #1667
• State rank: #18 of 111 in NE

Livability — Papillion

• Score: 85/100
• State rank: #4
• US rank: #482

Category grades

Amenities D- Commute F Cost of living A Crime A+ Employment A+ Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Sarpy County · 161,202 people
• City population: 35,085
• Metro: Omaha-Council Bluffs, NE-IA
• Population (ZIP): 11,713
• Household income: $86,007
• Rent vs Own: 33.0% rent · 67.0% own
• Severe rent burden: 303.0

Population outlook (Sarpy County) Hauer SSP2

• Today (2025): 211,769 people
• By 2030: 229,365 · +8.3%
• By 2040: 264,122 · +24.7%
• By 2050: 298,087 · +40.8%
• By 2075: 381,667 · +80.2%
• By 2100: 448,180 · +111.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 9% Two or more races 7% Asian 2%
• Hispanic origin (detail): Mexican 6% Cuban 1%
• Common ancestry: Romanian 5% Italian 5% Lithuanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Indo-European 1%

Political lean MEDSL · Sarpy

• 2024 margin: R (+11.7) · D 43.5% · R 55.2% · Other 1.3%
• 2008→2024 swing: +4.2pp toward D · 2008: -15.9pp · 2024: -11.7pp
• All cycles: 2024: R+11.7 2020: R+11.2 2016: R+21.8 2012: R+23.6 2008: R+15.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -61.11%
• Current HPI: 250.0183
• Rent YoY: ▲ 3.73%
• 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

+99.2% since first listed

24 events — show timeline

• 2026-04-14 Listed $189,000 GPRMLS
• 2026-01-24 Rental Removed $1,900 APPFOLIO
• 2026-01-05 Listed for Rent $1,900 APPFOLIO
• 2025-12-19 Sold (Public Records) $183,538 Public Records
• 2025-12-19 Sold (MLS) $178,000 GPRMLS
• 2025-11-12 Listed $190,000 GPRMLS
• 2025-11-07 Listing Removed — GPRMLS
• 2025-10-18 Price Changed $188,000 GPRMLS
• 2025-09-27 Price Changed $192,000 GPRMLS
• 2025-09-14 Listed $197,000 GPRMLS
• 2022-08-22 Sold (Public Records) $170,000 Public Records
• 2022-08-19 Sold (MLS) $170,000 GPRMLS
• 2022-06-25 Pending — GPRMLS
• 2022-06-22 Relisted — GPRMLS
• 2022-06-18 Pending — GPRMLS
• 2022-01-09 Listed $150,000 GPRMLS
• 2017-06-09 Sold (Public Records) $115,000 Public Records
• 2017-06-08 Sold (MLS) $114,900 GPRMLS
• 2017-04-26 Pending — GPRMLS
• 2017-04-20 Listed $114,900 GPRMLS
• 2010-08-31 Sold (Public Records) $92,000 Public Records
• 2010-08-27 Sold (MLS) $91,500 GPRMLS
• 2010-08-16 Listing Removed — GPRMLS
• 2010-01-11 Listed $94,900 GPRMLS

Property tax history

+3.0%/yr

Latest (2025): $2,509 · +3.9% YoY. Source: county tax records.