10032 S 172nd Cir · Gretna, NE 68136-9999

$400,000

2 bd · 2.0 ba · 2,320 sqft · SingleFamily public records · 16 Days on market

Built 1996 6,011 sqft lot $172/sqft · 6% above area Est $425k · 6% under $151/mo HOA · 5% of rent

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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).

• ARV discount +10.2/15.0
• Cash flow +6.5/30.0
• Schools +5.8/10.0
• Appreciation +5.0/10.0
• Livability +4.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• DSCR +0.8/10.0

Listing remarks MLS

Step off your deck and walk over to the 9th tee on Hammerhead course. This par 5 ends up at the clubhouse and pool, 27 holes of golf. Lawn care and snow removal provided for your home. Front bedroom has new carpet, new paint throughout, new flooring in kitchen. Conforming lower level 3rd bedroom. New garbage disposal and faucet.

Key facts

• Office craft room
• Wood floors
• Spacious deck

Tags

• GOLF COURSE VIEWS
• WESTERN SUNSET VIEWS
• SPACIOUS DECK
• WOOD FLOORS
• OFFICE CRAFT ROOM

Property features AI

Finance

• HOA & community: Association with monthly fee of $151; HOA covers maintenance of grounds, snow removal, common area maintenance, water and trash

Exterior

• Parking: Attached 2-car garage with garage door opener; Two covered parking spaces
• Utilities: Electricity available; Private water source; Public sewer
• Home design: Residential villa/patio home; Not new (built in 1996); Single-family design with finished basement
• Construction: Vinyl siding and brick exterior; Composition roof; Block foundation; Year built 1996
• Exterior features: Deck; Sprinkler system; Golf course frontage; Private roadway; Up to 1/4 acre lot

Interior

• Kitchen: Vaulted ceiling with dining area and interior balcony; Engineered wood floors; Range, Refrigerator, Microwave, Dishwasher
• Bedrooms: Primary bedroom on main floor with vaulted ceiling, bay/bow window, ceiling fan, walk-in closet and exterior door; Bedroom 2 on main floor with carpeting and window coverings; Bedroom 3 in basement with carpeting and window coverings; Basement contains additional finished living space
• Flooring: Engineered wood; Carpet; Ceramic tile; Vinyl
• Bathrooms: Three bathrooms total: two full and one three-quarter (includes primary bath with whirlpool and double sinks)
• Heating & cooling: Natural gas forced air heating; Central air conditioning
• Interior features: High ceilings; Ceiling fan(s); Fireplace in family room; Sump pump
• Laundry & utility: Washer and Dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $400k.

Deal economics

• At list price, monthly cash flow is $-670 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $282k (29.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $290k (27.5% below list).
• Recommended offer: $282k (29.6% below list) — sets the bar for cash-flow.
• Cap rate 4.3% vs local median 2.5% in Gretna — 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 82/100 on livability (#13 in NE, #1,227 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Gretna Public Schools (suburban): math 64% / reading 64% proficiency, ranked #6 of 111 in NE (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 5% free/reduced lunch — higher-income household profile.
• Zoned schools: Palisades Elementary School (math 79% / reading 74%, grade A, #17 of 502 statewide, top 3%, 490 students, 6% FRL); Aspen Creek Middle School (math 65% / reading 63%, grade B+, #12 of 128 statewide, top 9%, 777 students, 9% FRL) — zoned schools at 8% FRL track the district average.
• Market conditions: 2 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,612 units permitted in Sarpy County in 2024 (364 in 5+ unit buildings).

Forward outlook

• In year one you build about $15k of equity ($3k loan paydown + $12k appreciation (3.0% local appreciation)).
• Sarpy County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 3, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($394k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 14y 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 $183k; list at $400k implies a 119% gain — meaningful room to come down on a strong offer.

Recommended offer $281,592 (29.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.73% ✗
• Cap rate: 4.28%
• Cash-on-cash: -7.18%
• DSCR: 0.68
• GRM: 11.5

CMA / ARV

• ARV (median comp): $425,099
• List price: $400,000
• Delta: -5.90%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
17125 Colony Dr	0.17mi	3/3.0 (+1)	2,330 (+0%)	5mo	$345,000	$148	78
17402 Augusta Cir	0.30mi	3/3.5 (+1)	2,323 (+0%)	1mo	$475,000	$204	74
9810 S 175th Cir	0.37mi	2/2.5	2,478 (+7%)	1mo	$345,000	$139	69
17117 Colony Dr	0.15mi	3/2.5 (+1)	2,457 (+6%)	10mo	$380,000	$155	68
17011 Colony Dr	0.21mi	3/3.0 (+1)	2,298 (-1%)	14mo	$377,000	$164	68
10131 S 172 Cir	0.09mi	3/3.0 (+1)	2,444 (+5%)	18mo	$350,000	$143	63
16815 Colony Cir	0.31mi	3/3.0 (+1)	2,223 (-4%)	14mo	$366,000	$165	58
9983 S 171st St	0.08mi	3/3.0 (+1)	2,002 (-14%)	9mo	$301,000	$150	57
9316 S 168th Avenue Circle	0.49mi	3/2.5 (+1)	2,180 (-6%)	22mo	$350,000	$161	42
10814 S 172nd St	0.61mi	3/2.5 (+1)	2,094 (-10%)	12mo	$450,000	$215	38
9516 S 175 Cir	0.43mi	3/2.5 (+1)	2,608 (+12%)	19mo	$450,000	$173	36
17805 Palisades Dr	0.74mi	3/2.5 (+1)	1,986 (-14%)	11mo	$370,000	$186	25

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 0.9%
• Equity multiple: 1.05×
• Total profit: $5,660
• Equity at exit: $179,857

10-year hold

• IRR: 4.7%
• Equity multiple: 1.72×
• Total profit: $80,267
• Equity at exit: $277,182

Cash invested: $112,000 (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 68136-9999

• Active inventory: 2
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $2,900 medium
• Mortgage (P&I): −$2,098
• Tax from tax record: −$546 /mo · $6,552/yr
• Insurance: −$167
• HOA: −$151
• Vacancy / Maint / Mgmt: −$609
• Net cashflow: $-670

Break-even live

Break-even rent $3,748

Max offer price $281,592

Occupancy floor —

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: $100,000
• Closing costs: $12,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17510 Robin Dr Omaha, NE	3.0	3.0	2201	$2,900	$1.32	2d	1	1.22mi

HOA detail

• Monthly dues: $151 · $1,812/yr
• Likely covers: trashlandscapingsnow removalpool

Listing history 17 events

1. 2026-06-18
   days on market $400,000 Active 16 DOM
2. 2026-06-17
   days on market $400,000 Active 15 DOM
3. 2026-06-16
   days on market $400,000 Active 14 DOM
4. 2026-06-15
   days on market $400,000 Active 13 DOM
5. 2026-06-13
   days on market $400,000 Active 11 DOM
6. 2026-06-10
   days on market $400,000 Active 8 DOM
7. 2026-06-09
   days on market $400,000 Active 7 DOM
8. 2026-06-08
   statusdays on market $400,000 Active 6 DOM
9. 2026-06-07
   days on market $400,000 New 5 DOM
10. 2026-06-03
    statusdays on marketlisting id $400,000 New 1 DOM
11. 2026-04-27
    listed $400,000 Active 890-char remark
12. 2012-10-26
    soldstatus $183,000 333-char remark

    Show marketing remark (333 chars)

    Step off your deck and walk over to the 9th tee on Hammerhead course. This par 5 ends up at the clubhouse and pool, 27 holes of golf. Lawn care and snow removal provided for your home. Front bedroom has new carpet, new paint throughout, new flooring in kitchen. Conforming lower level 3rd bedroom. New garbage disposal and faucet.

13. 2012-10-17
    soldstatus $183,000
14. 2012-08-16
    historical 333-char remark

    Show marketing remark (333 chars)

    Step off your deck and walk over to the 9th tee on Hammerhead course. This par 5 ends up at the clubhouse and pool, 27 holes of golf. Lawn care and snow removal provided for your home. Front bedroom has new carpet, new paint throughout, new flooring in kitchen. Conforming lower level 3rd bedroom. New garbage disposal and faucet.

15. 2012-06-11
    listed $189,000 333-char remark

    Show marketing remark (333 chars)

    Step off your deck and walk over to the 9th tee on Hammerhead course. This par 5 ends up at the clubhouse and pool, 27 holes of golf. Lawn care and snow removal provided for your home. Front bedroom has new carpet, new paint throughout, new flooring in kitchen. Conforming lower level 3rd bedroom. New garbage disposal and faucet.

16. 1998-05-19
    soldstatus $200,000
17. 1995-10-05
    soldstatus $159,707

ⓘ 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: $6,552 · $546/mo
• Projected year-2 tax: $6,920 · $577/mo
• Expected delta: +$368/yr (+$31/mo · 5.6%)

ⓘ 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: $34,800
• − Mortgage interest: −$22,406
• − Property taxes: −$6,552
• − Insurance: −$2,000
• − Repairs & maintenance: −$2,784
• − Management: −$2,784
• − HOA: −$1,812
• − Depreciation: −$11,636
• Taxable loss: −$15,174
• Est. tax savings @ 24.0%: +$3,642
• After-tax cash flow: $-4,402/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: Gretna Public Schools
• NCES district ID: 3171220
• Math proficiency: 64% ▼ -10.00%
• Reading proficiency: 64% ▼ -4.00%
• Median HH income: $89,845
• Composite: 58.21/100
• National rank: #1023
• State rank: #6 of 111 in NE

Livability — Gretna

• Score: 82/100
• State rank: #13
• US rank: #1227

Category grades

Amenities F 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

No demographic data for this ZIP.

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• 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

+150.5% since first listed

9 events — show timeline

• 2026-05-19 Listing Removed — GPRMLS
• 2026-05-19 Listed $400,000 GPRMLS
• 2026-04-27 Listed $400,000 GPRMLS
• 2012-10-26 Sold (MLS) $183,000 GPRMLS
• 2012-10-17 Sold (Public Records) $183,000 Public Records
• 2012-08-16 Listing Removed — GPRMLS
• 2012-06-11 Listed $189,000 GPRMLS
• 1998-05-19 Sold (Public Records) $200,000 Public Records
• 1995-10-05 Sold (Public Records) $159,707 Public Records

Property tax history

+3.2%/yr

Latest (2025): $6,552 · -6.6% YoY. Source: county tax records.