1321 W S St · Lincoln, NE 68508

$269,900

2 bd · 1.0 ba · 1,862 sqft · SingleFamily public records · 37 Days on market

Built 1972 7,924 sqft lot $145/sqft · at area comps Est $283k · 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).

• Appreciation +9.7/10.0
• ARV discount +9.5/15.0
• Cash flow +4.7/30.0
• Schools +4.4/10.0
• Livability +4.2/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• 1% rule +0.2/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Wow! Welcome to this clean and spacious ranch home with 3+1 bedrooms, 3 bathroom and nicely finished basement. 2 stall detached large garage and covered patio. Basement features living area and social space for family or guests. Great location with just minutes from lake area, downtown Lincoln, schools and shoppings outlets, fitness and health facilities. Schedule a showing today for much more... Thank you for your business.

Key facts

• Minutes from lake
• Ranch-style home
• Finished basement

Tags

• RANCH-STYLE HOME
• FINISHED BASEMENT
• DETACHED GARAGE
• COVERED PATIO
• MINUTES FROM LAKE

Property features AI

Exterior

• Parking: Detached garage with 2 covered parking spaces (2 total)
• Utilities: Public water; Public sewer; Electricity available; Natural gas available; Phone available
• Home design: Single-family residence; Residential property; Not new (built in 1972); Living area includes above-grade and below-grade finished space
• Construction: Vinyl siding; Composition roof; Block foundation; Built in 1972
• Exterior features: Porch; Patio; Covered patio; Chain link fencing; City lot up to 1/4 acre (approximately 0.24 acre, 121 x 64)

Interior

• Kitchen: Range; Refrigerator; Dishwasher; Microwave; Garbage disposal
• Bedrooms: Primary bedroom on the main floor; Second bedroom on the main floor; Third bedroom in the basement
• Flooring: Carpet
• Bathrooms: Three full bathrooms (two on the main level)
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Central vacuum; Full finished basement (below grade finished area included)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $270k.

Deal economics

• At list price, monthly cash flow is $-668 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $152k (43.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $141k (47.6% below list).
• Recommended offer: $141k (47.6% below list) — sets the bar for 1% rule.

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: Lakeview Elementary School (math 32% / reading 37%, grade F, #390 of 502 statewide, top 80%, 388 students, 75% FRL); Park Middle School (math 37% / reading 37%, grade F, #99 of 128 statewide, top 79%, 834 students, 68% FRL); Lincoln High School (math 38% / reading 41%, grade F, #184 of 261 statewide, top 76%, 2,196 students, 59% FRL) — zoned schools average 67% FRL vs 37% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 37% at this address vs 52% district-wide (-14 pts) — the specific schools serving this property underperform the Lincoln Public Schools average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.7%/yr); 47 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,940 units permitted in Lancaster County in 2024 (895 in 5+ unit buildings).
• At $1,414/mo this rent would consume 54% of the median local household income ($31k/yr) (locally 1882% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $27k of equity ($2k loan paydown + $25k appreciation (9.3% local appreciation)).
• Lancaster County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($262k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y 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 $225k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $141,384 (47.6% 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 37 days. Have you received any prior offers? Is the seller open to a 48% concession, seller financing, or rate buy-down credit?
3. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.52% ✗
• Cap rate: 3.32%
• Cash-on-cash: -10.61%
• DSCR: 0.53
• GRM: 15.9

CMA / ARV

• ARV (median comp): $282,743
• List price: $269,900
• Delta: -4.54%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
830 Lakeside Dr	0.56mi	2/2.0	1,828 (-2%)	8mo	$515,000	$282	61
551 NW 9 St	0.28mi	3/2.0 (+1)	1,750 (-6%)	10mo	$250,000	$143	59
521 NW 9th St	0.27mi	3/2.0 (+1)	1,785 (-4%)	15mo	$242,000	$136	59
600 Pier 1	0.56mi	3/2.0 (+1)	1,830 (-2%)	8mo	$600,000	$328	55
414 NW 20th St	0.39mi	3/4.0 (+1)	1,838 (-1%)	11mo	$240,000	$131	54
547 Pier 1	0.54mi	3/2.0 (+1)	1,765 (-5%)	12mo	$670,000	$380	47
322 W Lakeshore Dr	0.63mi	2/3.0	1,926 (+3%)	13mo	$450,000	$234	46
112 W Lakeshore Dr	0.55mi	3/2.0 (+1)	1,676 (-10%)	10mo	$675,000	$403	40
750 Lamont Dr	0.69mi	3/2.5 (+1)	1,840 (-1%)	22mo	$270,000	$147	36
512 Pier 1	0.62mi	3/2.5 (+1)	2,116 (+14%)	18mo	$575,000	$272	22

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

9.31% appreciation · 1.69% rent growth · sell at horizon

5-year hold

• IRR: 15.0%
• Equity multiple: 2.19×
• Total profit: $89,991
• Equity at exit: $229,746

10-year hold

• IRR: 14.5%
• Equity multiple: 4.86×
• Total profit: $292,014
• Equity at exit: $481,856

Cash invested: $75,572 (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 68508

• Home prices YoY: 4.1%
• Rents YoY: 1.7%
• Active inventory: 47
• Price-to-rent: 15.9×

Monthly cashflow live

• Estimated rent: $1,414 high
• Mortgage (P&I): −$1,415
• Tax from tax record: −$257 /mo · $3,084/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $-668

Break-even live

Break-even rent $2,259

Max offer price $151,913

Occupancy floor —

Sensitivity live

Price	-10% $-515	-5% $-592	+0% $-668	+5% $-744	+10% $-821
Rent	-10% $-780	-5% $-724	+0% $-668	+5% $-612	+10% $-556
Rate	-1.0pp $-532	-0.5pp $-599	base $-668	+0.5pp $-738	+1.0pp $-809

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: $67,475
• Closing costs: $8,097
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
510 Surfside Dr Lincoln, NE	3.0	1.0–2.0	1051	$1,615	$1.54	15d	24	0.07mi
1864 W S St Lincoln, NE	3.0	2.0	1300	$1,800	$1.38	45d	1	0.31mi
701 Lakeside Dr Lincoln, NE	1.0–3.0	1.0–2.0	1116	$1,550	$1.39	15d	20	0.50mi
2211 W Todd Ln Lincoln, NE	3.0	2.0	1318	$1,750	$1.33	15d	1	0.53mi
1101 W C St Lincoln, NE	1.0–3.0	1.0	1045	$1,205	$1.15	15d	9	1.14mi
760 W C St Lincoln, NE	1.0–3.0	1.0–2.0	1018	$1,224	$1.20	15d	8	1.21mi
701 W C St Lincoln, NE	2.0	1.0	1554	$1,650	$1.06	23d	1	1.27mi

Listing history 25 events

1. 2026-06-21
   days on market $269,900 Active 37 DOM
2. 2026-06-18
   days on market $269,900 Active 34 DOM
3. 2026-06-17
   days on market $269,900 Active 33 DOM
4. 2026-06-16
   days on market $269,900 Active 32 DOM
5. 2026-06-15
   days on market $269,900 Active 31 DOM
6. 2026-06-14
   days on market $269,900 Active 29 DOM
7. 2026-06-10
   days on market $269,900 Active 26 DOM
8. 2026-06-09
   days on market $269,900 Active 25 DOM
9. 2026-06-08
   days on market $269,900 Active 24 DOM
10. 2026-06-07
    days on market $269,900 Active 23 DOM
11. 2026-06-05
    pricedays on market $269,900 Active 20 DOM
12. 2026-06-03
    days on market $275,000 Active 19 DOM
13. 2026-06-02
    days on market $275,000 Active 18 DOM
14. 2026-06-01
    days on market $275,000 Active 17 DOM
15. 2026-05-31
    days on market $275,000 Active 16 DOM
16. 2026-05-30
    days on market $275,000 Active 15 DOM
17. 2026-05-15
    listed $275,000 New 848-char remark
18. 2023-05-23
    soldstatus $225,000
19. 2023-05-22
    soldstatus $225,000 Sold 429-char remark

    Show marketing remark (429 chars)

    Wow! Welcome to this clean and spacious ranch home with 3+1 bedrooms, 3 bathroom and nicely finished basement. 2 stall detached large garage and covered patio. Basement features living area and social space for family or guests. Great location with just minutes from lake area, downtown Lincoln, schools and shoppings outlets, fitness and health facilities. Schedule a showing today for much more... Thank you for your business.

20. 2023-04-18
    status Pending 429-char remark

    Show marketing remark (429 chars)

    Wow! Welcome to this clean and spacious ranch home with 3+1 bedrooms, 3 bathroom and nicely finished basement. 2 stall detached large garage and covered patio. Basement features living area and social space for family or guests. Great location with just minutes from lake area, downtown Lincoln, schools and shoppings outlets, fitness and health facilities. Schedule a showing today for much more... Thank you for your business.

21. 2023-01-05
    listed $230,000 New 429-char remark

    Show marketing remark (429 chars)

    Wow! Welcome to this clean and spacious ranch home with 3+1 bedrooms, 3 bathroom and nicely finished basement. 2 stall detached large garage and covered patio. Basement features living area and social space for family or guests. Great location with just minutes from lake area, downtown Lincoln, schools and shoppings outlets, fitness and health facilities. Schedule a showing today for much more... Thank you for your business.

22. 2017-11-13
    soldstatus $127,000
23. 2017-11-09
    soldstatus $127,000

    Show marketing remark (782 chars)

    **3 BED, 3 BATH, RANCH W/ MASTER SUITE & 2.5 STALL HEATED GARAGE!** You will not want to miss this Capitol Beach home! The main floor features family room with semi-open concept floor plan to the spacious eat-in kitchen/dining room, FIRST FLOOR LAUNDRY, MASTER SUITE with WALK-IN CLOSET and 3/4 BATH, and yet another bedroom and full bath! The basement makes entertaining fun with the gorgeous custom bar complete with under-counter lighting and barber shop stools! The basement also features a family room, 3/4 bath, 3rd bedroom as well as a non-conforming bed/office. As if that wasn't enough, step outside to the covered patio, fenced backyard and 2.5 stall heated garage! Low maintenance exterior with vinyl siding and replacement vinyl windows. Call today before it's gone!

24. 2017-11-01
    historical

    Show marketing remark (782 chars)

    **3 BED, 3 BATH, RANCH W/ MASTER SUITE & 2.5 STALL HEATED GARAGE!** You will not want to miss this Capitol Beach home! The main floor features family room with semi-open concept floor plan to the spacious eat-in kitchen/dining room, FIRST FLOOR LAUNDRY, MASTER SUITE with WALK-IN CLOSET and 3/4 BATH, and yet another bedroom and full bath! The basement makes entertaining fun with the gorgeous custom bar complete with under-counter lighting and barber shop stools! The basement also features a family room, 3/4 bath, 3rd bedroom as well as a non-conforming bed/office. As if that wasn't enough, step outside to the covered patio, fenced backyard and 2.5 stall heated garage! Low maintenance exterior with vinyl siding and replacement vinyl windows. Call today before it's gone!

25. 2017-09-16
    listed $124,900

    Show marketing remark (782 chars)

    **3 BED, 3 BATH, RANCH W/ MASTER SUITE & 2.5 STALL HEATED GARAGE!** You will not want to miss this Capitol Beach home! The main floor features family room with semi-open concept floor plan to the spacious eat-in kitchen/dining room, FIRST FLOOR LAUNDRY, MASTER SUITE with WALK-IN CLOSET and 3/4 BATH, and yet another bedroom and full bath! The basement makes entertaining fun with the gorgeous custom bar complete with under-counter lighting and barber shop stools! The basement also features a family room, 3/4 bath, 3rd bedroom as well as a non-conforming bed/office. As if that wasn't enough, step outside to the covered patio, fenced backyard and 2.5 stall heated garage! Low maintenance exterior with vinyl siding and replacement vinyl windows. Call today before it's gone!

ⓘ 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: $3,084 · $257/mo
• Projected year-2 tax: $4,669 · $389/mo
• Expected delta: +$1,585/yr (+$132/mo · 51.4%)

ⓘ 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 ≥106°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: $16,966
• − Mortgage interest: −$15,119
• − Property taxes: −$3,084
• − Insurance: −$1,350
• − Repairs & maintenance: −$1,357
• − Management: −$1,357
• − Depreciation: −$7,852
• Taxable loss: −$13,152
• Est. tax savings @ 24.0%: +$3,156
• After-tax cash flow: $-4,858/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): 18,163
• Household income: $31,191
• Rent vs Own: 91.5% rent · 8.5% own
• Severe rent burden: 1882.0

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 11% Two or more races 7% Asian 6% Black 4%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 3% Scotch-Irish 2% Lithuanian 2%
• Foreign-born: 10% · Canada, China, Philippines
• Languages at home: 84% English-only · Spanish 8% Other Asian/Pacific 2% Chinese 2%

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: ▲ 9.31%
• Current HPI: 238.2553
• Rent YoY: ▲ 1.69%
• 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

+116.1% since first listed

10 events — show timeline

• 2026-06-05 Price Changed $269,900 GPRMLS
• 2026-05-15 Listed $275,000 GPRMLS
• 2023-05-23 Sold (Public Records) $225,000 Public Records
• 2023-05-22 Sold (MLS) $225,000 GPRMLS
• 2023-04-18 Pending — GPRMLS
• 2023-01-05 Listed $230,000 GPRMLS
• 2017-11-13 Sold (Public Records) $127,000 Public Records
• 2017-11-09 Sold (MLS) $127,000 GPRMLS
• 2017-11-01 Listing Removed — GPRMLS
• 2017-09-16 Listed $124,900 GPRMLS

Property tax history

+4.0%/yr

Latest (2025): $3,084 · +1.9% YoY. Source: county tax records.