The Minden II Plan · Omaha, NE 68022

$390,000

5 bd · 3.0 ba · 1,806 sqft · SingleFamily · 84 Days on market

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Why this score? — see what drove the F 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 +7.5/15.0
• Schools +6.9/10.0
• Cash flow +4.5/30.0
• Livability +4.2/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• 1% rule +0.5/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

THI Builders presents, The Minden ll. This beloved ranch-style plan has stolen the hearts of many and is sure to make yours skip a beat as well. The expansive main floor has an ever-popular split-bedroom style layout, drop zone, main floor laundry, and a spacious kitchen and living room area. The kitchen includes a large island w/ 12" overhang, corner pantry, and all kitchen appliances included! The primary bedroom is sized to perfection, and the attached ensuite includes a dual vanity and walk-in closet. Finish the basement to include 2 additional large bedrooms, a ¾ bath, massive rec room, and ample storage! See this gorgeous plan for yourself today!

Key facts

• Attached ensuite
• Dual vanity
• Main floor laundry

Tags

• SPLIT-BEDROOM STYLE LAYOUT
• MAIN FLOOR LAUNDRY
• LARGE ISLAND
• CORNER PANTRY
• ATTACHED ENSUITE
• DUAL VANITY

🏗️ New construction. The $390,000 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $466,957.

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath single-family listed at $390k.

Deal economics

• At list price, monthly cash flow is $-1k ($-14k/yr) — negative.
• To cash-flow at today's rent, offer at most $293k (24.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $257k (34.2% below list).
• Recommended offer: $257k (34.2% below list) — sets the bar for 1% rule.

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.
• 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.
• Market conditions: Rents rising fast (+4.2%/yr); 793 active listings in the ZIP; high-income renter base; 4,539 units permitted in Douglas County in 2024 (2,583 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k 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 84 days — a 6% lower offer ($367k) is reasonable based on typical stale-listing flexibility.

Recommended offer $256,736 (34.2% 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. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.55% ✗
• Cap rate: 3.21%
• Cash-on-cash: -11.00%
• DSCR: 0.51
• GRM: 15.2

CMA / ARV

• ARV (median comp): $466,957
• List price: $390,000
• Delta: -16.48%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5021 N 208th Ave	0.66mi	4/3.0 (-1)	1,814 (+0%)	5mo	$379,000	$209	60

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 · 4.25% rent growth · sell at horizon

5-year hold

• IRR: -35.0%
• Equity multiple: -0.14×
• Total profit: $-148,713
• Equity at exit: $69,625

10-year hold

• IRR: -38.7%
• Equity multiple: -0.64×
• Total profit: $-213,895
• Equity at exit: $40,374

Cash invested: $130,748 (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 68022

• Home prices YoY: -33.9%
• Rents YoY: 4.2%
• Active inventory: 793
• Price-to-rent: 12.7×

Monthly cashflow live

• Estimated rent: $2,567 medium
• Mortgage (P&I): −$2,449
• Tax est. 1.5%: −$584 /mo · $7,004/yr
• Insurance: −$195
• HOA: −$0
• Vacancy / Maint / Mgmt: −$539
• Net cashflow: $-1,199

Break-even live

Break-even rent $4,085

Max offer price $293,486

Occupancy floor —

Sensitivity live

Price	-10% $-876	-5% $-1,037	+0% $-1,199	+5% $-1,360	+10% $-1,522
Rent	-10% $-1,402	-5% $-1,300	+0% $-1,199	+5% $-1,097	+10% $-996
Rate	-1.0pp $-964	-0.5pp $-1,080	base $-1,199	+0.5pp $-1,320	+1.0pp $-1,443

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: $116,739
• Closing costs: $14,009
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-18
   days on market $390,000 Active 84 DOM
2. 2026-06-17
   days on market $390,000 Active 83 DOM
3. 2026-06-16
   days on market $390,000 Active 82 DOM
4. 2026-06-15
   days on market $390,000 Active 81 DOM
5. 2026-06-13
   days on market $390,000 Active 79 DOM
6. 2026-06-10
   days on market $390,000 Active 76 DOM
7. 2026-06-09
   days on market $390,000 Active 75 DOM
8. 2026-06-08
   days on market $390,000 Active 74 DOM
9. 2026-06-07
   days on market $390,000 Active 73 DOM
10. 2026-06-03
    days on market $390,000 Active 69 DOM
11. 2026-06-03
    days on market $390,000 Active 68 DOM
12. 2026-06-01
    days on market $390,000 Active 67 DOM
13. 2026-05-31
    days on market $390,000 Active 66 DOM
14. 2026-03-26
    listed $390,000 Active 672-char remark

    Show marketing remark (672 chars)

    THI Builders presents, The Minden ll. This beloved ranch-style plan has stolen the hearts of many and is sure to make yours skip a beat as well. The expansive main floor has an ever-popular split-bedroom style layout, drop zone, main floor laundry, and a spacious kitchen and living room area. The kitchen includes a large island w/ 12" overhang, corner pantry, and all kitchen appliances included! The primary bedroom is sized to perfection, and the attached ensuite includes a dual vanity and walk-in closet. Finish the basement to include 2 additional large bedrooms, a ¾ bath, massive rec room, and ample storage! See this gorgeous plan for yourself today!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $30,808
• − Mortgage interest: −$26,157
• − Property taxes: −$7,004
• − Insurance: −$2,335
• − Repairs & maintenance: −$2,465
• − Management: −$2,465
• − Depreciation: −$13,584
• Taxable loss: −$23,201
• Est. tax savings @ 24.0%: +$5,568
• After-tax cash flow: $-8,818/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: Elkhorn Public Schools
• NCES district ID: 3170110
• Math proficiency: 77% ▼ -7.00%
• Reading proficiency: 76% ▼ -6.00%
• Median HH income: $96,478
• Composite: 69.21/100
• National rank: #318
• State rank: #1 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

• County: Douglas County · 538,646 people
• City population: 552,986
• Metro: Omaha-Council Bluffs, NE-IA
• Population (ZIP): 36,538
• Household income: $148,111
• Rent vs Own: 26.0% rent · 74.0% own
• Severe rent burden: 651.0

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: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 6% Asian 4% Hispanic / Latino 4% Black 1%
• Common ancestry: Portuguese 3% Romanian 3% Iranian 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 94% English-only · Other Indo-European 1% Other Asian/Pacific 1% Spanish 1%

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: ▼ -102.67%
• Current HPI: 200.1245
• Rent YoY: ▲ 4.25%
• 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

1 event — show timeline

• 2026-03-26 Listed $390,000 Zillow