344 S 26th St · Lincoln, NE 68510

$324,900

20 bd · 5.0 ba · 3,490 sqft · MultiFamily public records · 76 Days on market

Built 1920 7,405 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
• Schools +4.4/10.0
• Livability +4.2/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

This property has been meticulously maintained and cared for - you do not find investment properties in this great condition very often. Work and improvements since 1996: New basement walls, all floors jacked and leveled, interior studs and headers replaced(3 original remain), New interior risers and steps, all new plumbing and wiring, new heating and cooling for each unit, all new insulation and drywall, Attic floor was deepened to expand insulation, Secured building requiring key to enter building and common areas, Outside security cameras, New shingles 8-10 yrs ago, New paved concrete driveway and rear parking lot, Coin operated washer/dryer in basement for tenants, New water heater 12 yrs ago, Plumbing shut-offs in basement so hot and/or cold water can be shut separately for each unit. Landlord pays all water.

Key facts

• All-brick
• 4-plex
• Central a/c

Tags

• ALL-BRICK
• 4-PLEX
• MULTIFAMILY INVESTMENT
• OFF-STREET PARKING
• CENTRAL A/C
• UPDATED MECHANICALS

What this means for you Summary

Snapshot

• This is a 4 × 5-bed/4.0-bath units multifamily listed at $325k.

Deal economics

• At list price, monthly cash flow is $3k ($31k/yr) — positive. Per door: $637/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $325k).
• Recommended offer: $305k (6.0% below list) — sets the bar for market timing.
• Cap rate 15.7% 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: Elliott Elementary School (math 37% / reading 42%, grade F, #346 of 502 statewide, top 74%, 370 students, 0% FRL); Lefler Middle School (math 46% / reading 45%, grade D+, #63 of 128 statewide, top 50%, 613 students, 61% FRL); Lincoln High School (math 38% / reading 41%, grade F, #184 of 261 statewide, top 76%, 2,196 students, 59% FRL) — zoned schools at 40% FRL track the district average.
• Market conditions: Rents rising (+1.8%/yr); 124 active listings in the ZIP; 1,940 units permitted in Lancaster County in 2024 (895 in 5+ unit buildings).
• At $5,955/mo this rent would consume 108% of the median local household income ($66k/yr) (locally 622% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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 + 1.8% rent growth), your $91k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($305k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y 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.
• Current owner paid $245k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $305,406 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
9. 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.
10. 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.
11. 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: 1.83% ✓
• Cap rate: 15.70%
• Cash-on-cash: 33.61%
• DSCR: 2.50
• GRM: 4.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.78% rent growth · sell at horizon

5-year hold

• IRR: 27.5%
• Equity multiple: 2.13×
• Total profit: $102,468
• Equity at exit: $48,444

10-year hold

• IRR: 34.3%
• Equity multiple: 3.96×
• Total profit: $269,444
• Equity at exit: $28,091

Cash invested: $90,972 (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 68510

• Rents YoY: 1.8%
• Active inventory: 124
• Price-to-rent: 18.2×

Monthly cashflow live

• Estimated rent: $5,955 medium
• Mortgage (P&I): −$1,704
• Tax from tax record: −$317 /mo · $3,803/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,251
• Net cashflow: $2,548

Break-even live

Break-even rent $2,729

Max offer price $324,900

Occupancy floor 52%

Sensitivity live

Price	-10% $2,732	-5% $2,640	+0% $2,548	+5% $2,456	+10% $2,364
Rent	-10% $2,078	-5% $2,313	+0% $2,548	+5% $2,784	+10% $3,019
Rate	-1.0pp $2,712	-0.5pp $2,631	base $2,548	+0.5pp $2,464	+1.0pp $2,378

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	5	4	$5,956
Total (4 units)			$5,955

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: $81,225
• Closing costs: $9,747
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-04-09
   status Pending
2. 2026-01-23
   listed $324,900 New
3. 2025-12-22
   historical
4. 2025-11-20
   price $329,900
5. 2025-10-14
   price $334,900
6. 2025-08-07
   listed $339,900 New
7. 2022-06-22
   price $550
8. 2020-10-15
   soldstatus $245,000 Sold 825-char remark

   Show marketing remark (825 chars)

   This property has been meticulously maintained and cared for - you do not find investment properties in this great condition very often. Work and improvements since 1996: New basement walls, all floors jacked and leveled, interior studs and headers replaced(3 original remain), New interior risers and steps, all new plumbing and wiring, new heating and cooling for each unit, all new insulation and drywall, Attic floor was deepened to expand insulation, Secured building requiring key to enter building and common areas, Outside security cameras, New shingles 8-10 yrs ago, New paved concrete driveway and rear parking lot, Coin operated washer/dryer in basement for tenants, New water heater 12 yrs ago, Plumbing shut-offs in basement so hot and/or cold water can be shut separately for each unit. Landlord pays all water.

9. 2020-08-28
   status Pending 825-char remark

   Show marketing remark (825 chars)

   This property has been meticulously maintained and cared for - you do not find investment properties in this great condition very often. Work and improvements since 1996: New basement walls, all floors jacked and leveled, interior studs and headers replaced(3 original remain), New interior risers and steps, all new plumbing and wiring, new heating and cooling for each unit, all new insulation and drywall, Attic floor was deepened to expand insulation, Secured building requiring key to enter building and common areas, Outside security cameras, New shingles 8-10 yrs ago, New paved concrete driveway and rear parking lot, Coin operated washer/dryer in basement for tenants, New water heater 12 yrs ago, Plumbing shut-offs in basement so hot and/or cold water can be shut separately for each unit. Landlord pays all water.

10. 2020-08-21
    listed $235,000 Active - New 825-char remark

    Show marketing remark (825 chars)

    This property has been meticulously maintained and cared for - you do not find investment properties in this great condition very often. Work and improvements since 1996: New basement walls, all floors jacked and leveled, interior studs and headers replaced(3 original remain), New interior risers and steps, all new plumbing and wiring, new heating and cooling for each unit, all new insulation and drywall, Attic floor was deepened to expand insulation, Secured building requiring key to enter building and common areas, Outside security cameras, New shingles 8-10 yrs ago, New paved concrete driveway and rear parking lot, Coin operated washer/dryer in basement for tenants, New water heater 12 yrs ago, Plumbing shut-offs in basement so hot and/or cold water can be shut separately for each unit. Landlord pays all water.

ⓘ 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: $3,803 · $317/mo
• Projected year-2 tax: $5,621 · $468/mo
• Expected delta: +$1,817/yr (+$151/mo · 47.8%)

ⓘ 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 · 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: $71,460
• − Mortgage interest: −$18,199
• − Property taxes: −$3,803
• − Insurance: −$1,624
• − Repairs & maintenance: −$5,717
• − Management: −$5,717
• − Depreciation: −$9,452
• Taxable income: $26,947
• Est. tax owed @ 24.0%: −$6,467
• After-tax cash flow: $24,112/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: 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): 19,391
• Household income: $65,951
• Rent vs Own: 41.7% rent · 58.3% own
• Severe rent burden: 622.0

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 (82%)
• Race & ethnicity: White 82% Hispanic / Latino 7% Two or more races 6% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Arab 2% Romanian 2% Iranian 2%
• Foreign-born: 6% · Canada, Vietnam
• Languages at home: 92% English-only · Spanish 4% Other Indo-European 1% French/Haitian/Cajun 1%

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: ▼ -152.27%
• Current HPI: 243.7469
• Rent YoY: ▲ 1.78%
• 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

+38.3% since first listed

10 events — show timeline

• 2026-04-09 Pending — GPRMLS
• 2026-01-23 Listed $324,900 GPRMLS
• 2025-12-22 Listing Removed — GPRMLS
• 2025-11-20 Price Changed $329,900 GPRMLS
• 2025-10-14 Price Changed $334,900 GPRMLS
• 2025-08-07 Listed $339,900 GPRMLS
• 2022-06-22 Price Changed $550 RENT.
• 2020-10-15 Sold (MLS) $245,000 GPRMLS
• 2020-08-28 Pending — GPRMLS
• 2020-08-21 Listed $235,000 GPRMLS

Property tax history

+2.4%/yr

Latest (2025): $3,803 · -3.3% YoY. Source: county tax records.