4413 Sprague St · Omaha, NE 68111

$162,000

2 bd · 1.0 ba · 1,080 sqft · Other public records · 106 Days on market

Built 1922 4,792 sqft lot $150/sqft · 41% above area Est $168k · at est.

---

Why this score? — see what drove the C- 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 +13.6/30.0
• Appreciation +10.0/10.0
• ARV discount +9.0/15.0
• Livability +4.2/5.0
• DSCR +4.1/10.0
• Rent growth +3.3/5.0
• 1% rule +2.9/10.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0

Listing remarks MLS

Welcome to this beautifully updated and move-in ready home in a fantastic location! Featuring a hard to find, 2 car attached garage for extra storage and convenience. This 2-bedroom, 1-bath property has all new flooring throughout, fresh interior paint, and a brand-new furnace and AC for added comfort and peace of mind. Step out onto the new deck—perfect for morning coffee and bird watching. The front porch overlooks a park with no neighbors directly in front. The bonus basement space offers flexibility for hobbies, a workout area, or additional living space. Close to public transportation for easy commuting.

Key facts

• Attached garage
• New flooring
• Bonus basement space

Tags

• NEW FLOORING
• FRESH INTERIOR PAINT
• NEW DECK
• ATTACHED GARAGE
• BONUS BASEMENT SPACE
• CLOSE TO PUBLIC TRANSPORTATION

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $162k.

Deal economics

• At list price, monthly cash flow is $10 ($119/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 $129k (20.6% below list).
• Recommended offer: $129k (20.6% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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.
• Market conditions: Rents rising (+3.2%/yr); 139 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 4,539 units permitted in Douglas County in 2024 (2,583 in 5+ unit buildings).
• This rent runs 37% of the median local income ($42k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $17k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• Douglas County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.2% rent growth), your $45k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$44k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 106 days — a 9% lower offer ($147k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 28y ago; this cycle's ask has dropped $23k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $65k; list at $162k implies a 149% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $128,555 (20.6% below list)

Questions for the listing agent

1. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
2. Built in 1922 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 0.79% ✗
• Cap rate: 6.37%
• Cash-on-cash: 0.26%
• DSCR: 1.01
• GRM: 10.5

CMA / ARV

• ARV (median comp): $167,584
• List price: $162,000
• Delta: -3.33%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.22% rent growth · sell at horizon

5-year hold

• IRR: 24.5%
• Equity multiple: 2.96×
• Total profit: $89,096
• Equity at exit: $145,942

10-year hold

• IRR: 21.7%
• Equity multiple: 6.78×
• Total profit: $262,359
• Equity at exit: $314,730

Cash invested: $45,360 (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 68111

• Home prices YoY: 4.0%
• Rents YoY: 3.2%
• Active inventory: 139
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,286 high
• Mortgage (P&I): −$850
• Tax from tax record: −$89 /mo · $1,063/yr
• Insurance: −$68
• HOA: −$0
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $10

Break-even live

Break-even rent $1,273

Max offer price $162,000

Occupancy floor 94%

Sensitivity live

Price	-10% $102	-5% $56	+0% $10	+5% $-36	+10% $-82
Rent	-10% $-92	-5% $-41	+0% $10	+5% $61	+10% $111
Rate	-1.0pp $91	-0.5pp $51	base $10	+0.5pp $-32	+1.0pp $-75

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: $40,500
• Closing costs: $4,860
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3535 N 45th Ave Omaha, NE	3.0	1.0	1325	$1,800	$1.36	44d	1	0.32mi
4112 N 48th St Omaha, NE	2.0	1.0	825	$899	$1.09	11d	2	0.35mi
4112 N 48th St Unit 2 Omaha, NE	2.0	1.0	800	$899	$1.12	24d	1	0.35mi
4112 N 48th St Unit 3 Omaha, NE	2.0	1.0	800	$850	$1.06	24d	1	0.35mi
3808 N 48th St Omaha, NE	3.0	2.0	1400	$2,000	$1.43	3d	1	0.39mi
3425 N 45th St Omaha, NE	2.0	1.0	872	$1,500	$1.72	15d	1	0.40mi
3356 N 41st St Omaha, NE	2.0	1.0	720	$1,295	$1.80	24d	1	0.45mi
3508 N 47th Ave Omaha, NE	3.0	1.0	1425	$1,600	$1.12	19d	1	0.47mi
4852 Boyd St Omaha, NE	2.0	2.0	912	$1,500	$1.64	44d	1	0.48mi
4844 Taylor St Apt 4 Omaha, NE	2.0	1.0	750	$925	$1.23	24d	1	0.48mi
4844 Taylor St Apt 1 Omaha, NE	1.0	1.0	700	$795	$1.14	3d	1	0.48mi
4707 N 40th Ave Omaha, NE	3.0	1.0	1337	$1,500	$1.12	22d	1	0.50mi
4918 Ames Ave Unit 17 Omaha, NE	2.0	1.5	1074	$850	$0.79	24d	1	0.56mi
4918 Ames Ave Apt 13 Omaha, NE	1.0	1.0	974	$750	$0.77	44d	1	0.56mi
3323 N 40th St Omaha, NE	2.0	1.0	1000	$1,575	$1.57	3d	1	0.59mi
3212 N 39th St Omaha, NE	1.0	1.0	1025	$785	$0.77	24d	1	0.72mi
4657 Camden Ave Omaha, NE	3.0	1.0	1250	$1,500	$1.20	44d	1	0.74mi
3674 Bedford Ave Omaha, NE	3.0	1.0	864	$1,275	$1.48	24d	1	0.74mi
5119 Pratt St Omaha, NE	3.0	1.0	1008	$1,900	$1.88	44d	1	0.81mi
3911 N 52nd St Apt 5 Omaha, NE	1.0	1.0	850	$799	$0.94	15d	1	0.83mi
4314 N 52nd St Omaha, NE	3.0	1.0	780	$945	$1.21	15d	1	0.87mi
4874 Maple St Omaha, NE	3.0	1.0	1098	$1,545	$1.41	44d	1	0.87mi
2914 N 49th Ave Omaha, NE	3.0	1.0	1375	$1,615	$1.17	24d	1	0.89mi
4470 Redman Ave Unit 4470A Omaha, NE	2.0	1.5	980	$1,050	$1.07	11d	1	1.04mi
4460 Redman Ave Omaha, NE	3.0	1.0	750	$950	$1.27	44d	1	1.05mi
3941 Himebaugh Ave Omaha, NE	2.0	1.0	720	$1,350	$1.88	24d	1	1.09mi
4625 N 56th St Apt 18 Omaha, NE	2.0	1.0	700	$875	$1.25	44d	1	1.12mi
3502 Lake St Omaha, NE	2.0	1.0	974	$995	$1.02	3d	1	1.21mi
4414 Curtis Ave Unit CRAWFORD 4414/B Omaha, NE	1.0	1.0	765	$745	$0.97	24d	1	1.38mi
6010 Evans St Omaha, NE	3.0	2.0	1196	$1,850	$1.55	24d	1	1.40mi
6020 Birch St Unit 6 Omaha, NE	2.0	1.0	800	$1,150	$1.44	44d	1	1.46mi
4438 N 61st St Omaha, NE	1.0	1.0	700	$800	$1.14	3d	4	1.49mi

Listing history 24 events

1. 2026-06-18
   days on market $162,000 Active 106 DOM
2. 2026-06-17
   days on market $162,000 Active 105 DOM
3. 2026-06-16
   days on market $162,000 Active 104 DOM
4. 2026-06-15
   days on market $162,000 Active 103 DOM
5. 2026-06-13
   days on market $162,000 Active 101 DOM
6. 2026-06-10
   days on market $162,000 Active 98 DOM
7. 2026-06-09
   days on market $162,000 Active 97 DOM
8. 2026-06-08
   days on market $162,000 Active 96 DOM
9. 2026-06-07
   days on market $162,000 Active 95 DOM
10. 2026-06-03
    days on market $162,000 Active 91 DOM
11. 2026-06-03
    days on market $162,000 Active 90 DOM
12. 2026-06-01
    days on market $162,000 Active 89 DOM
13. 2026-06-01
    days on market $162,000 Active 88 DOM
14. 2026-05-07
    price $162,000 622-char remark

    Show marketing remark (622 chars)

    Welcome to this beautifully updated and move-in ready home in a fantastic location! Featuring a hard to find, 2 car attached garage for extra storage and convenience. This 2-bedroom, 1-bath property has all new flooring throughout, fresh interior paint, and a brand-new furnace and AC for added comfort and peace of mind. Step out onto the new deck—perfect for morning coffee and bird watching. The front porch overlooks a park with no neighbors directly in front. The bonus basement space offers flexibility for hobbies, a workout area, or additional living space. Close to public transportation for easy commuting.

15. 2026-04-01
    price $170,000 622-char remark

    Show marketing remark (622 chars)

    Welcome to this beautifully updated and move-in ready home in a fantastic location! Featuring a hard to find, 2 car attached garage for extra storage and convenience. This 2-bedroom, 1-bath property has all new flooring throughout, fresh interior paint, and a brand-new furnace and AC for added comfort and peace of mind. Step out onto the new deck—perfect for morning coffee and bird watching. The front porch overlooks a park with no neighbors directly in front. The bonus basement space offers flexibility for hobbies, a workout area, or additional living space. Close to public transportation for easy commuting.

16. 2026-03-14
    price $179,000 622-char remark

    Show marketing remark (622 chars)

    Welcome to this beautifully updated and move-in ready home in a fantastic location! Featuring a hard to find, 2 car attached garage for extra storage and convenience. This 2-bedroom, 1-bath property has all new flooring throughout, fresh interior paint, and a brand-new furnace and AC for added comfort and peace of mind. Step out onto the new deck—perfect for morning coffee and bird watching. The front porch overlooks a park with no neighbors directly in front. The bonus basement space offers flexibility for hobbies, a workout area, or additional living space. Close to public transportation for easy commuting.

17. 2026-03-01
    historical
18. 2026-02-16
    listed $185,000 New 622-char remark

    Show marketing remark (622 chars)

    Welcome to this beautifully updated and move-in ready home in a fantastic location! Featuring a hard to find, 2 car attached garage for extra storage and convenience. This 2-bedroom, 1-bath property has all new flooring throughout, fresh interior paint, and a brand-new furnace and AC for added comfort and peace of mind. Step out onto the new deck—perfect for morning coffee and bird watching. The front porch overlooks a park with no neighbors directly in front. The bonus basement space offers flexibility for hobbies, a workout area, or additional living space. Close to public transportation for easy commuting.

19. 2026-02-16
    listed $185,000 New

    Show marketing remark (622 chars)

    Welcome to this beautifully updated and move-in ready home in a fantastic location! Featuring a hard to find, 2 car attached garage for extra storage and convenience. This 2-bedroom, 1-bath property has all new flooring throughout, fresh interior paint, and a brand-new furnace and AC for added comfort and peace of mind. Step out onto the new deck—perfect for morning coffee and bird watching. The front porch overlooks a park with no neighbors directly in front. The bonus basement space offers flexibility for hobbies, a workout area, or additional living space. Close to public transportation for easy commuting.

20. 2024-04-04
    soldstatus $65,000
21. 1998-09-18
    soldstatus $21,000
22. 1998-08-18
    historical
23. 1998-08-18
    soldstatus $21,000
24. 1998-08-04
    listed $21,000

ⓘ 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: $1,063 · $89/mo
• Projected year-2 tax: $2,803 · $234/mo
• Expected delta: +$1,739/yr (+$145/mo · 163.5%)

ⓘ 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: $15,427
• − Mortgage interest: −$9,075
• − Property taxes: −$1,063
• − Insurance: −$810
• − Repairs & maintenance: −$1,234
• − Management: −$1,234
• − Depreciation: −$4,713
• Taxable loss: −$2,702
• Est. tax savings @ 24.0%: +$649
• After-tax cash flow: $768/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): 24,210
• Household income: $42,185
• Rent vs Own: 60.3% rent · 39.7% own
• Severe rent burden: 1913.0

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 0.65)
• Race & ethnicity: Black 52% Hispanic / Latino 21% White 17% Two or more races 15% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Ukrainian 3% Lithuanian 0%
• Foreign-born: 14% · Canada, Philippines
• Languages at home: 75% English-only · Spanish 16% Other Asian/Pacific 3% French/Haitian/Cajun 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: ▲ 13.82%
• Current HPI: 358.7174
• Rent YoY: ▲ 3.22%
• 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

+671.4% since first listed

11 events — show timeline

• 2026-05-07 Price Changed $162,000 GPRMLS
• 2026-04-01 Price Changed $170,000 GPRMLS
• 2026-03-14 Price Changed $179,000 GPRMLS
• 2026-03-01 Listing Removed — GPRMLS
• 2026-02-16 Listed $185,000 GPRMLS
• 2026-02-16 Listed $185,000 GPRMLS
• 2024-04-04 Sold (Public Records) $65,000 Public Records
• 1998-09-18 Sold (MLS) $21,000 GPRMLS
• 1998-08-18 Sold (Public Records) $21,000 Public Records
• 1998-08-18 Listing Removed — GPRMLS
• 1998-08-04 Listed $21,000 GPRMLS

Property tax history

+7.4%/yr

Latest (2025): $1,063 · -23.4% YoY. Source: county tax records.