3271 Randolph St · Lincoln, NE 68510

$229,900

3 bd · 2.0 ba · 2,294 sqft · SingleFamily public records · 28 Days on market

Built 1930 4,792 sqft lot $100/sqft · 19% below area Est $284k · 19% under

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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 +15.0/15.0
• Cash flow +9.8/30.0
• Schools +4.4/10.0
• Livability +4.2/5.0
• Rent growth +2.9/5.0
• DSCR +2.8/10.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover a rare opportunity to own this charming and meticulously maintained 1.5-story historic home in a prime location. This home features 3 spacious bedrooms, with 2 conveniently located on the main floor. Inside, you’ll find beautifully refinished hardwood floors and original woodwork that highlight the home’s timeless character. The spacious kitchen offers plenty of room for cooking and entertaining, while the large, beautifully updated main-level bathroom adds modern comfort. Outside, enjoy the convenience of a large detached garage and a generous yard, perfect for relaxing or entertaining. With historic charm, thoughtful updates, and a prime location near schools, parks, and shopping, this home is truly a must-see. Schedule your showing today—this gem won’t last long!

Key facts

• Spacious kitchen
• Original woodwork
• Historic home

Tags

• HISTORIC HOME
• REFINISHED HARDWOOD FLOORS
• ORIGINAL WOODWORK
• SPACIOUS KITCHEN
• UPDATED MAIN-LEVEL BATHROOM
• LARGE DETACHED GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $-147 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $204k (11.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $177k (23.1% below list).
• Recommended offer: $177k (23.1% below list) — sets the bar for 1% rule.
• Cap rate 5.5% 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: Randolph Elementary School (math 40% / reading 53%, grade D-, #285 of 502 statewide, top 57%, 459 students, 62% 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 average 61% FRL vs 37% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.8%/yr); 124 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,940 units permitted in Lancaster County in 2024 (895 in 5+ unit buildings).
• This rent runs 32% of the median local income ($66k/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 $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($226k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts 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 $188k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $176,750 (23.1% 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. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.77% ✗
• Cap rate: 5.52%
• Cash-on-cash: -2.74%
• DSCR: 0.88
• GRM: 10.8

CMA / ARV

• ARV (median comp): $284,305
• List price: $229,900
• Delta: -19.14%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3271 Randolph St	0.00mi	3/1.5	2,294 (0%)	0mo	$226,000	$99	98
611 Elmwood Ave	0.13mi	3/2.0	2,314 (+1%)	1mo	$300,000	$130	92
833 Elmwood Ave	0.06mi	3/3.0	2,212 (-4%)	2mo	$315,000	$142	86
1026 S 34th St	0.23mi	3/2.0	2,120 (-8%)	1mo	$275,000	$130	75
3410 L St	0.31mi	4/2.5 (+1)	2,355 (+3%)	1mo	$325,000	$138	74
1003 S 34th St	0.20mi	3/2.0	1,978 (-14%)	2mo	$220,000	$111	67
1024 Elmwood Ave	0.21mi	4/2.0 (+1)	1,976 (-14%)	3mo	$252,000	$128	59
3801 Mohawk St	0.56mi	4/1.5 (+1)	2,383 (+4%)	2mo	$330,500	$139	58
2614 A St	0.71mi	3/2.0	2,421 (+6%)	0mo	$240,000	$99	57
3920 Mohawk St	0.61mi	2/2.5 (-1)	2,212 (-4%)	4mo	$298,000	$135	56
3353 M St	0.39mi	4/2.0 (+1)	2,601 (+13%)	3mo	$399,000	$153	52
235 N 31st St	0.65mi	3/2.0	1,970 (-14%)	0mo	$175,000	$89	46

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 · 1.78% rent growth · sell at horizon

5-year hold

• IRR: -22.2%
• Equity multiple: 0.24×
• Total profit: $-48,773
• Equity at exit: $34,279

10-year hold

• IRR: -19.4%
• Equity multiple: 0.02×
• Total profit: $-63,130
• Equity at exit: $19,878

Cash invested: $64,372 (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: 10.8×

Monthly cashflow live

• Estimated rent: $1,768 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$242 /mo · $2,905/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$371
• Net cashflow: $-147

Break-even live

Break-even rent $1,954

Max offer price $203,898

Occupancy floor —

Sensitivity live

Price	-10% $-17	-5% $-82	+0% $-147	+5% $-212	+10% $-277
Rent	-10% $-287	-5% $-217	+0% $-147	+5% $-77	+10% $-8
Rate	-1.0pp $-31	-0.5pp $-89	base $-147	+0.5pp $-207	+1.0pp $-267

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: $57,475
• Closing costs: $6,897
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2608 Q St Unit 2 Lincoln, NE	4.0	2.0	1575	$1,550	$0.98	45d	1	0.89mi
2616 South St Lincoln, NE	4.0	1.0	1734	$1,995	$1.15	45d	1	1.14mi
1424 F St Lincoln, NE	4.0	2.0	3091	$2,095	$0.68	45d	1	1.44mi
1710 Harwood St Lincoln, NE	4.0	2.0	2200	$1,800	$0.82	45d	1	1.50mi

Listing history 12 events

1. 2026-05-14
   status Pending 809-char remark

   Show marketing remark (809 chars)

   Discover a rare opportunity to own this charming and meticulously maintained 1.5-story historic home in a prime location. This home features 3 spacious bedrooms, with 2 conveniently located on the main floor. Inside, you’ll find beautifully refinished hardwood floors and original woodwork that highlight the home’s timeless character. The spacious kitchen offers plenty of room for cooking and entertaining, while the large, beautifully updated main-level bathroom adds modern comfort. Outside, enjoy the convenience of a large detached garage and a generous yard, perfect for relaxing or entertaining. With historic charm, thoughtful updates, and a prime location near schools, parks, and shopping, this home is truly a must-see. Schedule your showing today—this gem won’t last long!

2. 2026-04-16
   listed $229,900 New 809-char remark

   Show marketing remark (809 chars)

   Discover a rare opportunity to own this charming and meticulously maintained 1.5-story historic home in a prime location. This home features 3 spacious bedrooms, with 2 conveniently located on the main floor. Inside, you’ll find beautifully refinished hardwood floors and original woodwork that highlight the home’s timeless character. The spacious kitchen offers plenty of room for cooking and entertaining, while the large, beautifully updated main-level bathroom adds modern comfort. Outside, enjoy the convenience of a large detached garage and a generous yard, perfect for relaxing or entertaining. With historic charm, thoughtful updates, and a prime location near schools, parks, and shopping, this home is truly a must-see. Schedule your showing today—this gem won’t last long!

3. 2026-04-16
   historical

   Show marketing remark (809 chars)

   Discover a rare opportunity to own this charming and meticulously maintained 1.5-story historic home in a prime location. This home features 3 spacious bedrooms, with 2 conveniently located on the main floor. Inside, you’ll find beautifully refinished hardwood floors and original woodwork that highlight the home’s timeless character. The spacious kitchen offers plenty of room for cooking and entertaining, while the large, beautifully updated main-level bathroom adds modern comfort. Outside, enjoy the convenience of a large detached garage and a generous yard, perfect for relaxing or entertaining. With historic charm, thoughtful updates, and a prime location near schools, parks, and shopping, this home is truly a must-see. Schedule your showing today—this gem won’t last long!

4. 2026-04-03
   listed $239,000 New
5. 2026-02-10
   soldstatus $187,662
6. 2025-10-23
   historical
7. 2025-10-10
   historical
8. 2025-10-09
   listed $199,900 New
9. 2025-09-18
   listed $208,900 New
10. 2025-09-18
    historical
11. 2025-09-03
    listed $215,000 New
12. 2025-06-05
    soldstatus $175,000

ⓘ 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: $2,905 · $242/mo
• Projected year-2 tax: $3,977 · $331/mo
• Expected delta: +$1,072/yr (+$89/mo · 36.9%)

ⓘ 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: $21,210
• − Mortgage interest: −$12,878
• − Property taxes: −$2,905
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,697
• − Management: −$1,697
• − Depreciation: −$6,688
• Taxable loss: −$5,804
• Est. tax savings @ 24.0%: +$1,393
• After-tax cash flow: $-373/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

+31.4% since first listed

12 events — show timeline

• 2026-05-14 Pending — GPRMLS
• 2026-04-16 Listing Removed — GPRMLS
• 2026-04-16 Listed $229,900 GPRMLS
• 2026-04-03 Listed $239,000 GPRMLS
• 2026-02-10 Sold (Public Records) $187,662 Public Records
• 2025-10-23 Listing Removed — GPRMLS
• 2025-10-10 Listing Removed — GPRMLS
• 2025-10-09 Listed $199,900 GPRMLS
• 2025-09-18 Listing Removed — GPRMLS
• 2025-09-18 Listed $208,900 GPRMLS
• 2025-09-03 Listed $215,000 GPRMLS
• 2025-06-05 Sold (Public Records) $175,000 Public Records

Property tax history

+4.2%/yr

Latest (2025): $2,905 · +7.3% YoY. Source: county tax records.