4608 N 90 St · Omaha, NE 68136

$199,500

3 bd · 1.0 ba · 1,528 sqft · Other public records · 10 Days on market

Built 1965 8,875 sqft lot

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Why this score? — see what drove the D 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 +14.6/30.0
• ARV discount +7.5/15.0
• DSCR +4.5/10.0
• 1% rule +4.4/10.0
• Livability +4.2/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Bring your flippers, fixer-uppers or investors! Great opportunity for sweet equity here. Lots of hardwood floors. Great backyard. Make your offer. Can close quickly. Vacant. Home needs work, but great potential.

Key facts

• Backyard
• Hardwood floors
• 8,875 sq ft lot

Tags

• HARDWOOD FLOORS
• BACKYARD

Property features AI

Exterior

• Parking: Attached garage with garage door opener; One covered parking space (total 1 parking space)
• Utilities: Electricity available; Natural gas available; Public water; Public sewer
• Home design: Single-family residence; Split-entry layout; Not new (built in 1965)
• Construction: Masonite exterior; Composition roof; Block foundation; Built in 1965
• Exterior features: Patio; Full vinyl fencing; City lot, level and partly wooded with public sidewalk; Paved road access

Interior

• Kitchen: Kitchen on main floor with wood flooring
• Bedrooms: Primary bedroom on main floor with wood flooring; Two additional main-floor bedrooms with wood flooring; Basement office (concrete floor)
• Flooring: Wood flooring in primary and bedrooms, living room, and kitchen; Ceramic tile in basement family room; Concrete floor in basement office
• Bathrooms: One full bathroom; One half bathroom; Main-level bathroom(s) present; Below-grade bathroom present
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Ceiling fans; Partially finished basement with windows
• Laundry & utility: Basement utility space

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $200k.

Deal economics

• At list price, monthly cash flow is $48 ($581/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $187k (6.0% below list).
• Recommended offer: $187k (6.0% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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: Dodge Elementary School (math 27% / reading 37%, grade F, #405 of 502 statewide, top 84%, 407 students, 0% FRL); Morton Magnet Middle School (math 22% / reading 26%, grade F, #119 of 128 statewide, top 93%, 724 students, 0% FRL); Burke High School (math 28% / reading 38%, grade F, #226 of 261 statewide, top 87%, 1,915 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 (+4.1%/yr); 255 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 4,539 units permitted in Douglas County in 2024 (2,583 in 5+ unit buildings).
• This rent is only 17% of the median local income ($133k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

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.
• Douglas County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $69k; list at $200k implies a 189% gain — meaningful room to come down on a strong offer.

Recommended offer $187,458 (6.0% below list)

Questions for the listing agent

1. Built in 1965 — 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. 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?
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: 0.94% ✗
• Cap rate: 6.58%
• Cash-on-cash: 1.04%
• DSCR: 1.05
• GRM: 8.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.12% rent growth · sell at horizon

5-year hold

• IRR: -13.3%
• Equity multiple: 0.52×
• Total profit: $-27,048
• Equity at exit: $29,746

10-year hold

• IRR: -2.6%
• Equity multiple: 0.81×
• Total profit: $-10,368
• Equity at exit: $17,249

Cash invested: $55,860 (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 68136

• Home prices YoY: -5.2%
• Rents YoY: 4.1%
• Active inventory: 255
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,875 high
• Mortgage (P&I): −$1,046
• Tax from tax record: −$303 /mo · $3,638/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$394
• Net cashflow: $48

Break-even live

Break-even rent $1,813

Max offer price $199,500

Occupancy floor 92%

Sensitivity live

Price	-10% $161	-5% $105	+0% $48	+5% $-8	+10% $-65
Rent	-10% $-100	-5% $-26	+0% $48	+5% $122	+10% $196
Rate	-1.0pp $149	-0.5pp $99	base $48	+0.5pp $-3	+1.0pp $-56

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: $49,875
• Closing costs: $5,985
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9129 Grand Ave Omaha, NE	3.0	2.0	1344	$1,925	$1.43	25d	1	0.18mi
9218 Meredith Ave Omaha, NE	3.0	2.0	1963	$2,000	$1.02	45d	1	0.21mi
4222 N 91st St Omaha, NE	3.0	2.0	1410	$1,825	$1.29	45d	1	0.27mi
4623 N 94th St Omaha, NE	3.0	2.0	1701	$1,900	$1.12	25d	1	0.33mi
8624 Templeton Dr Omaha, NE	3.0	1.0	1100	$1,600	$1.45	45d	1	0.40mi
9312 Spaulding St Omaha, NE	3.0	2.0	1999	$1,850	$0.93	25d	1	0.56mi
9315 Maplewood Blvd Omaha, NE	2.0	1.0–1.5	855	$1,245	$1.46	4d	18	0.72mi
9610 Spaulding St Omaha, NE	3.0	3.0	1664	$1,950	$1.17	16d	1	0.78mi
5439 N 100th Plz Omaha, NE	1.0–2.0	1.0–2.5	1025	$1,450	$1.41	4d	28	1.05mi
3110 1/2 N 97th St Omaha, NE	1.0–3.0	1.0–2.0	1189	$1,489	$1.25	4d	30	1.16mi
3022 1/2 N 97th St Omaha, NE	3.0	1.0–1.5	885	$1,449	$1.64	4d	21	1.23mi
3930 N 105th St Omaha, NE	2.0–3.0	2.5	1282	$1,625	$1.27	4d	12	1.30mi
6704 N 90th Plz Omaha, NE	1.0–2.0	1.0–2.0	947	$1,240	$1.31	3d	5	1.30mi
3316 N 102nd Plz Omaha, NE	1.0–2.0	1.0–2.0	940	$1,087	$1.16	4d	9	1.31mi
10535 Ellison Plz Omaha, NE	1.0–3.0	1.0–2.0	991	$1,200	$1.21	13d	9	1.40mi
8013 Newport Ave Omaha, NE	3.0	2.0	1358	$1,950	$1.44	12d	1	1.42mi
7323 Ames Cir Unit 7225 Omaha, NE	2.0	2.0	1632	$1,250	$0.77	4d	1	1.44mi
10635 Spaulding Cir Omaha, NE	2.0	3.0	1815	$2,250	$1.24	4d	1	1.44mi
2344 N 92nd Ave Omaha, NE	2.0	1.0–2.0	825	$1,106	$1.34	4d	31	1.46mi

Listing history 5 events

1. 2026-06-03
   statusdays on market $199,500 Pending 10 DOM
2. 2026-06-01
   days on market $199,500 Active 9 DOM
3. 2026-06-01
   days on market $199,500 Active 8 DOM
4. 2026-05-23
   listed $199,500 New
5. 1995-07-17
   soldstatus $69,000

ⓘ 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: $3,638 · $303/mo
• Projected year-2 tax: $3,638 · $303/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,495
• − Mortgage interest: −$11,175
• − Property taxes: −$3,638
• − Insurance: −$998
• − Repairs & maintenance: −$1,800
• − Management: −$1,800
• − Depreciation: −$5,804
• Taxable loss: −$2,719
• Est. tax savings @ 24.0%: +$653
• 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.

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: Sarpy County · 161,202 people
• City population: 552,986
• Metro: Omaha-Council Bluffs, NE-IA
• Population (ZIP): 22,163
• Household income: $133,472
• Rent vs Own: 10.8% rent · 89.2% own
• Severe rent burden: 166.0

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 (86%)
• Race & ethnicity: White 86% Asian 6% Hispanic / Latino 5% Two or more races 3% Black 2%
• Common ancestry: Romanian 5% Portuguese 2% Italian 2%
• Foreign-born: 7% · Vietnam, Canada, China
• Languages at home: 91% English-only · Vietnamese 3% Spanish 3% Other Asian/Pacific 2%

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: ▼ -12.33%
• Current HPI: 226.8096
• Rent YoY: ▲ 4.12%
• 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

+189.1% since first listed

2 events — show timeline

• 2026-05-23 Listed $199,500 GPRMLS
• 1995-07-17 Sold (Public Records) $69,000 Public Records

Property tax history

+5.1%/yr

Latest (2025): $3,638 · +31.8% YoY. Source: county tax records.