3111 Fontenelle Blvd · Omaha, NE 68104

$187,000

2 bd · 1.0 ba · 1,776 sqft · Other public records · 55 Days on market

Built 1920 5,227 sqft lot $105/sqft · at area comps Est $184k · at est.

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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 +15.4/30.0
• ARV discount +6.7/15.0
• DSCR +4.7/10.0
• 1% rule +4.3/10.0
• Livability +4.2/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Needs some work. Easy to show, free credit report & appraisal if financed and closed thru Contrywide.

Key facts

• Easy access
• Attic space
• Full basement

Tags

• ATTIC SPACE
• FULL BASEMENT
• OFF-STREET PARKING
• EASY ACCESS

Property features AI

Exterior

• Parking: No garage
• Utilities: Electricity available; Natural gas available; Public water available; Sewer available (public and private)
• Home design: Single-family residence; One and one-half stories; Not new (built in 1920)
• Construction: Frame construction; Composition roof; Block foundation; Built in 1920
• Exterior features: Front porch

Interior

• Bedrooms: Master bedroom on main floor; Second bedroom on main floor
• Flooring: Wood flooring; Vinyl flooring
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Natural gas forced-air heating; Window cooling units
• Interior features: Unfinished basement; No fireplaces; Wood and vinyl flooring

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $187k.

Deal economics

• At list price, monthly cash flow is $73 ($875/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 $174k (6.7% below list).
• Recommended offer: $174k (6.7% below list) — sets the bar for 1% rule.
• Cap rate 6.8% 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: Fontenelle Elementary School (math 8% / reading 16%, grade F, #489 of 502 statewide, top 98%, 457 students, 0% FRL); Benson High School (math 9% / reading 12%, grade F, #257 of 261 statewide, top 98%, 1,570 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.
• Zoned-school proficiency averages 11% at this address vs 24% district-wide (-13 pts) — the specific schools serving this property underperform the Omaha Public Schools average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+2.4%/yr); 172 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 4,539 units permitted in Douglas County in 2024 (2,583 in 5+ unit buildings).
• This rent runs 35% of the median local income ($61k/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 $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

• It's been on market 55 days — a 3% lower offer ($181k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 25y 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.

Risks & watch-outs

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

Recommended offer $174,450 (6.7% below list)

Questions for the listing agent

1. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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. 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?
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: 0.93% ✗
• Cap rate: 6.76%
• Cash-on-cash: 1.67%
• DSCR: 1.07
• GRM: 8.9

CMA / ARV

• ARV (median comp): $183,847
• List price: $187,000
• Delta: 1.72%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.35% rent growth · sell at horizon

5-year hold

• IRR: -14.4%
• Equity multiple: 0.49×
• Total profit: $-26,755
• Equity at exit: $27,882

10-year hold

• IRR: -6.7%
• Equity multiple: 0.58×
• Total profit: $-21,766
• Equity at exit: $16,168

Cash invested: $52,360 (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 68104

• Rents YoY: 2.4%
• Active inventory: 172
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,744 high
• Mortgage (P&I): −$981
• Tax from tax record: −$247 /mo · $2,960/yr
• Insurance: −$78
• HOA: −$0
• Vacancy / Maint / Mgmt: −$366
• Net cashflow: $73

Break-even live

Break-even rent $1,652

Max offer price $187,000

Occupancy floor 91%

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: $46,750
• Closing costs: $5,610
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3508 N 47th Ave Omaha, NE	3.0	1.0	1425	$1,600	$1.12	19d	1	0.27mi
3535 N 45th Ave Omaha, NE	3.0	1.0	1325	$1,800	$1.36	44d	1	0.33mi
2914 N 49th Ave Omaha, NE	3.0	1.0	1375	$1,615	$1.17	23d	1	0.34mi
3808 N 48th St Omaha, NE	3.0	2.0	1400	$2,000	$1.43	3d	1	0.48mi
5011 Miami St Omaha, NE	3.0	3.0	2180	$2,200	$1.01	44d	1	0.49mi
3204 N 56th St Omaha, NE	3.0	2.0	1800	$1,700	$0.94	10d	1	0.89mi
4114 N 54th St Omaha, NE	3.0	2.0	1683	$1,745	$1.04	3d	1	1.01mi
4707 N 40th Ave Omaha, NE	3.0	1.0	1337	$1,500	$1.12	21d	1	1.14mi
4657 Camden Ave Omaha, NE	3.0	1.0	1250	$1,500	$1.20	44d	1	1.29mi
6116 Pinkney St Omaha, NE	3.0	1.5	1700	$1,800	$1.06	12d	1	1.32mi
3430 Seward St Omaha, NE	3.0	1.0	1371	$1,695	$1.24	14d	1	1.33mi
4201 Cuming St Omaha, NE	2.0	1.0	1272	$1,350	$1.06	3d	1	1.37mi
828 N 41st Ave Omaha, NE	2.0	1.0	1264	$1,700	$1.34	14d	1	1.41mi
4806 Webster St Omaha, NE	3.0	2.5	1589	$2,295	$1.44	3d	1	1.45mi
620 N 46th St Omaha, NE	3.0	2.5	2410	$3,497	$1.45	44d	1	1.49mi

Listing history 28 events

1. 2026-06-18
   days on market $187,000 Active 55 DOM
2. 2026-06-17
   days on market $187,000 Active 54 DOM
3. 2026-06-16
   days on market $187,000 Active 53 DOM
4. 2026-06-15
   days on market $187,000 Active 52 DOM
5. 2026-06-13
   days on market $187,000 Active 50 DOM
6. 2026-06-10
   days on market $187,000 Active 47 DOM
7. 2026-06-09
   days on market $187,000 Active 46 DOM
8. 2026-06-08
   days on market $187,000 Active 45 DOM
9. 2026-06-07
   days on market $187,000 Active 44 DOM
10. 2026-06-03
    days on market $187,000 Active 40 DOM
11. 2026-06-03
    days on market $187,000 Active 39 DOM
12. 2026-06-01
    days on market $187,000 Active 38 DOM
13. 2026-06-01
    days on market $187,000 Active 37 DOM
14. 2026-04-23
    listed $187,000 New 556-char remark
15. 2014-09-24
    soldstatus $1,705,000
16. 2008-07-28
    soldstatus $22,101 106-char remark

    Show marketing remark (106 chars)

    Needs some work. Easy to show, free credit report & appraisal if financed and closed thru Contrywide.

17. 2008-07-17
    historical 106-char remark

    Show marketing remark (106 chars)

    Needs some work. Easy to show, free credit report & appraisal if financed and closed thru Contrywide.

18. 2008-02-21
    listed $29,900 106-char remark

    Show marketing remark (106 chars)

    Needs some work. Easy to show, free credit report & appraisal if financed and closed thru Contrywide.

19. 2007-07-30
    historical
20. 2007-04-30
    listed $64,500
21. 2007-04-30
    historical
22. 2007-01-08
    listed $74,461
23. 2003-12-24
    soldstatus $76,000
24. 2003-12-16
    historical
25. 2003-08-12
    listed $69,900
26. 2001-08-20
    soldstatus $26,000
27. 2001-07-02
    historical
28. 2001-06-23
    listed $27,500

ⓘ 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: $2,960 · $247/mo
• Projected year-2 tax: $3,235 · $270/mo
• Expected delta: +$276/yr (+$23/mo · 9.3%)

ⓘ 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: $20,934
• − Mortgage interest: −$10,475
• − Property taxes: −$2,960
• − Insurance: −$935
• − Repairs & maintenance: −$1,675
• − Management: −$1,675
• − Depreciation: −$5,440
• Taxable loss: −$2,225
• Est. tax savings @ 24.0%: +$534
• After-tax cash flow: $1,409/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: Douglas County · 538,646 people
• City population: 552,986
• Metro: Omaha-Council Bluffs, NE-IA
• Population (ZIP): 36,673
• Household income: $60,549
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 1738.0

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: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 50% Black 23% Asian 12% Two or more races 11% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Slovak 2% Lithuanian 2% Romanian 2%
• Foreign-born: 13% · Philippines, Canada, India
• Languages at home: 83% English-only · Other Asian/Pacific 8% Spanish 5% Other Indo-European 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: ▼ -196.54%
• Current HPI: 298.8625
• Rent YoY: ▲ 2.35%
• 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

+580.0% since first listed

15 events — show timeline

• 2026-04-23 Listed $187,000 GPRMLS
• 2014-09-24 Sold (Public Records) $1,705,000 Public Records
• 2008-07-28 Sold (MLS) $22,101 GPRMLS
• 2008-07-17 Listing Removed — GPRMLS
• 2008-02-21 Listed $29,900 GPRMLS
• 2007-07-30 Listing Removed — GPRMLS
• 2007-04-30 Listing Removed — GPRMLS
• 2007-04-30 Listed $64,500 GPRMLS
• 2007-01-08 Listed $74,461 GPRMLS
• 2003-12-24 Sold (Public Records) $76,000 Public Records
• 2003-12-16 Listing Removed — GPRMLS
• 2003-08-12 Listed $69,900 GPRMLS
• 2001-08-20 Sold (MLS) $26,000 GPRMLS
• 2001-07-02 Listing Removed — GPRMLS
• 2001-06-23 Listed $27,500 GPRMLS

Property tax history

+13.5%/yr

Latest (2025): $2,960 · +0.5% YoY. Source: county tax records.