3900 & 3920 Sweetbriar Ln · Lincoln, NE 68516

$599,000

3 bd · 3.0 ba · 2,220 sqft · MultiFamily public records · 43 Days on market

Built 1977 0.39 ac lot $270/sqft · 220% above area

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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 +15.5/30.0
• ARV discount +7.5/15.0
• DSCR +4.8/10.0
• Schools +4.4/10.0
• Livability +4.2/5.0
• 1% rule +3.3/10.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

This well-maintained property includes 2 duplexes (4 apartments), offering a mix of 2 three-bedroom units and 2 two-bedroom units—all fully rented and generating consistent income. Each upper units comes with single-car garages and extra off-street parking for added convenience. Recent updates include a new roof and siding, ensuring peace of mind for years to come. Enjoy the added privacy with no direct neighbors behind the property. Perfectly situated just minutes from shopping, dining, and entertainment, this property offers both a prime location and long-term investment potential. Don’t miss out on this fully-rented, income-generating opportunity!

Key facts

• Single-car garages
• Added privacy
• New siding

Tags

• NEW ROOF
• NEW SIDING
• SINGLE-CAR GARAGES
• EXTRA OFF-STREET PARKING
• ADDED PRIVACY
• PRIME LOCATION

Property features AI

Exterior

• Parking: Attached 2-car garage; Two covered parking spaces; Additional open parking slab; total parking for 2 vehicles
• Utilities: Public water; Public sewer
• Home design: Single-family residence (residential); Not new (built in 1977); Above-grade finished area and below-grade finished area
• Construction: Built in 1977; Below-grade finished area (finished basement); Foundation: Other
• Exterior features: Patio; Partial wood fencing; Lot approximately 0.39 acre (over 1/4 up to 1/2 acre)

Interior

• Kitchen: Range; Oven; Refrigerator; Dishwasher
• Bedrooms: Primary bedroom on the main floor; Two additional main-floor bedrooms; Two basement bedrooms
• Bathrooms: Six bathrooms total (four full, two three-quarter); Four bathrooms on the main level; Basement bathrooms included
• Heating & cooling: Natural gas and electric forced-air heating; Central air conditioning
• Interior features: Four fireplaces; Finished daylight walk-out basement with egress

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath multifamily listed at $599k.

Deal economics

• At list price, monthly cash flow is $238 ($3k/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 $499k (16.7% below list).
• Recommended offer: $499k (16.7% below list) — sets the bar for 1% rule.
• Cap rate 6.8% 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: Rousseau Elementary School (math 63% / reading 68%, grade B+, #76 of 502 statewide, top 15%, 566 students, 40% FRL); Irving Middle School (math 50% / reading 55%, grade C+, #42 of 128 statewide, top 32%, 890 students, 46% FRL); Southwest High School (math 60% / reading 64%, grade B-, #39 of 261 statewide, top 18%, 2,171 students, 26% FRL) — zoned schools at 37% FRL track the district average.
• Market conditions: Rents rising (+3.3%/yr); 483 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,940 units permitted in Lancaster County in 2024 (895 in 5+ unit buildings).
• At $4,992/mo this rent would consume 59% of the median local household income ($101k/yr) (locally 1192% 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 $4k of loan paydown is wiped out by about $18k 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 43 days — a 3% lower offer ($581k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 15y 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 $66k; list at $599k implies a 801% gain — meaningful room to come down on a strong offer.

Recommended offer $499,200 (16.7% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — 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 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: 0.83% ✗
• Cap rate: 6.77%
• Cash-on-cash: 1.70%
• DSCR: 1.08
• GRM: 10.0

CMA / ARV

• ARV (median comp): $373,990
• List price: $599,000
• Delta: 60.16%
• Verdict: OVERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5648 S 38th St	0.46mi	3/2.0	2,070 (-7%)	12mo	$325,000	$157	53
3400 Allendale Dr	0.64mi	4/3.0 (+1)	2,192 (-1%)	12mo	$351,000	$160	53
3419 Allendale Dr	0.60mi	4/3.0 (+1)	2,474 (+11%)	20mo	$295,000	$119	32

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 · 3.33% rent growth · sell at horizon

5-year hold

• IRR: -13.3%
• Equity multiple: 0.52×
• Total profit: $-80,450
• Equity at exit: $89,313

10-year hold

• IRR: -4.0%
• Equity multiple: 0.73×
• Total profit: $-44,463
• Equity at exit: $51,791

Cash invested: $167,720 (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 68516

• Rents YoY: 3.3%
• Active inventory: 483
• Price-to-rent: 35.5×

Monthly cashflow live

• Estimated rent: $4,992 medium
• Mortgage (P&I): −$3,141
• Tax from tax record: −$315 /mo · $3,782/yr
• Insurance: −$250
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,048
• Net cashflow: $238

Break-even live

Break-even rent $4,691

Max offer price $599,000

Occupancy floor 90%

Sensitivity live

Price	-10% $577	-5% $407	+0% $238	+5% $68	+10% $-101
Rent	-10% $-157	-5% $41	+0% $238	+5% $435	+10% $632
Rate	-1.0pp $539	-0.5pp $390	base $238	+0.5pp $83	+1.0pp $-75

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,812
▸ 2× units	2	1	$2,180
Total (4 units)			$4,992

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: $149,750
• Closing costs: $17,970
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3751 Faulkner Dr Lincoln, NE	1.0–3.0	1.0–2.0	1244	$2,205	$1.77	15d	22	0.86mi
4125 High St Lincoln, NE	3.0	1.5	1600	$1,950	$1.22	23d	1	1.29mi

Listing history 24 events

1. 2026-06-09
   days on market $599,000 Active 43 DOM
2. 2026-06-08
   days on market $599,000 Active 42 DOM
3. 2026-06-07
   days on market $599,000 Active 41 DOM
4. 2026-06-05
   days on market $599,000 Active 38 DOM
5. 2026-06-03
   days on market $599,000 Active 37 DOM
6. 2026-06-02
   days on market $599,000 Active 36 DOM
7. 2026-06-01
   days on market $599,000 Active 35 DOM
8. 2026-05-31
   price $599,000 Active 34 DOM
9. 2026-05-31
   days on market $609,900 Active 34 DOM
10. 2026-05-30
    days on market $609,900 Active 33 DOM
11. 2026-04-27
    listed $609,900 New 671-char remark
12. 2026-04-27
    historical
13. 2026-04-27
    historical
14. 2026-04-09
    price $309,900
15. 2026-04-09
    price $309,900
16. 2026-03-10
    price $314,900
17. 2026-03-10
    price $314,900
18. 2026-03-09
    price $315,000
19. 2026-03-09
    price $315,000
20. 2026-01-27
    listed $325,000 New
21. 2026-01-27
    listed $325,000 New
22. 2011-10-28
    soldstatus $66,500
23. 2011-10-03
    historical
24. 2011-07-19
    listed $95,000

ⓘ 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: $3,782 · $315/mo
• Projected year-2 tax: $10,363 · $864/mo
• Expected delta: +$6,581/yr (+$548/mo · 174.0%)

ⓘ 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: $59,904
• − Mortgage interest: −$33,553
• − Property taxes: −$3,782
• − Insurance: −$2,995
• − Repairs & maintenance: −$4,792
• − Management: −$4,792
• − Depreciation: −$17,425
• Taxable loss: −$7,436
• Est. tax savings @ 24.0%: +$1,785
• After-tax cash flow: $4,638/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): 48,903
• Household income: $100,821
• Rent vs Own: 31.7% rent · 68.3% own
• Severe rent burden: 1192.0

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 (87%)
• Race & ethnicity: White 87% Two or more races 6% Hispanic / Latino 4% Asian 3% Black 2%
• Common ancestry: Italian 3% Iranian 2% Romanian 2%
• Foreign-born: 5% · Vietnam, Canada
• Languages at home: 94% English-only · Spanish 1% Russian/Polish/Slavic 1% Vietnamese 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: ▼ -243.57%
• Current HPI: 226.0324
• Rent YoY: ▲ 3.33%
• 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

+530.5% since first listed

16 events — show timeline

• 2026-06-09 Listing Removed — GPRMLS
• 2026-05-31 Price Changed $599,000 GPRMLS
• 2026-04-27 Listing Removed — GPRMLS
• 2026-04-27 Listing Removed — GPRMLS
• 2026-04-27 Listed $609,900 GPRMLS
• 2026-04-09 Price Changed $309,900 GPRMLS
• 2026-04-09 Price Changed $309,900 GPRMLS
• 2026-03-10 Price Changed $314,900 GPRMLS
• 2026-03-10 Price Changed $314,900 GPRMLS
• 2026-03-09 Price Changed $315,000 GPRMLS
• 2026-03-09 Price Changed $315,000 GPRMLS
• 2026-01-27 Listed $325,000 GPRMLS
• 2026-01-27 Listed $325,000 GPRMLS
• 2011-10-28 Sold (MLS) $66,500 GPRMLS
• 2011-10-03 Listing Removed — GPRMLS
• 2011-07-19 Listed $95,000 GPRMLS

Property tax history

+3.2%/yr

Latest (2025): $3,782 · +20.8% YoY. Source: county tax records.