18719 Ogden St

Omaha, NE 68022

$339,990D

4 bd · 3.0 ba · 1,262 sqft · Built 2025 · Other · Pending · 76 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,335/mo
• Mortgage (P&I): −$1,783
• Tax + insurance: −$209
• HOA: −$8
• Vac / Maint / Mgmt: −$490
• Net cashflow: $-155/mo
• Annual: $-1,859/yr
• Cap rate: 5.75%
• Cash-on-cash: -1.95%
• DSCR: 0.91
• 1% rule: 0.69%
• Cash to close: $95,197

Investor read

• This is a 4-bed/3.0-bath other listed at $340k.
• At list price, monthly cash flow is $-155 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $313k (8.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $234k (31.3% below list).
• It's been on market 76 days — a 6% lower offer ($320k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $234k (31.3% below list) — sets the bar for 1% rule.
• 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.
• 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.
• Elkhorn Public Schools (urban): math 77% / reading 76% proficiency, ranked #1 of 111 in NE (top 1%) — strong family-tenant draw, lease renewals of 3-5y typical; only 5% free/reduced lunch — higher-income household profile.
• Zoned schools: Woodbrook Elementary School (math 77% / reading 82%, grade A, #9 of 502 statewide, top 2%, 496 students, 5% FRL); Elkhorn North Ridge Middle School (313 students, 9% FRL); Elkhorn North High School (math 72% / reading 72%, grade B+, #12 of 261 statewide, top 4%, 946 students, 11% FRL) — zoned schools at 8% FRL track the district average.
• Market conditions: Rents rising fast (+4.2%/yr); 796 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 4,539 units permitted in Douglas County in 2024 (2,583 in 5+ unit buildings).
• Douglas County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Cap rate 5.7% 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.

Questions for listing agent

• 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?
• It's been on market 76 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.