12611 Spaulding Plz #311 · Omaha, NE 68164

$52,000

2 bd · 2.0 ba · 924 sqft · Manufactured public records · 28 Days on market

Built 1985 $736/mo HOA · 52% of rent

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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 +19.3/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.1/10.0
• Rent growth +4.4/5.0
• Livability +4.2/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Move right in to this spacious and well-maintained, fully furnished, 2-bedroom, 2-bathroom home. The large kitchen offers ample cabinet space and comes complete with all appliances. Enjoy the large soaking tub perfect for relaxing after a long day. Enjoy outdoor living with a nice deck, covered carport, space for 2 vehicles, and an additional storage shed for extra convenience. Community amenities include a swimming pool and access to the clubhouse. Whether you're just starting out or looking to downsize, this home offers comfort and convenience in a desirable location. Close to shopping, dining, and everyday amenities. Home is for sale; the lot rent is $736/month. Purchasers must apply and

Key facts

• Large soaking tub
• Nice deck
• Covered carport

Tags

• LARGE KITCHEN
• AMPLE CABINET SPACE
• LARGE SOAKING TUB
• NICE DECK
• COVERED CARPORT
• ADDITIONAL STORAGE SHED

Property features AI

Finance

• HOA & community: Association with monthly fee (includes pool access, clubhouse, common area maintenance, playground)

Exterior

• Parking: Carport
• Utilities: Public water; Public sewer; Electricity available; Natural gas available
• Home design: Residential mobile home; Not new / not a model; Single-story (main floor living); Built in 1985; Composition roof
• Construction: Vinyl siding; No foundation
• Exterior features: Covered deck and deck; Chain link fencing; Window coverings; Shed(s); City lot

Interior

• Kitchen: Pantry; Range; Refrigerator; Microwave; Dishwasher
• Bedrooms: Master bedroom on main floor with wall-to-wall carpeting, window coverings, and ceiling fan; Second bedroom on main floor with luxury vinyl plank flooring
• Flooring: Luxury vinyl plank; Laminate; Carpet; Plank flooring
• Bathrooms: 2 total bathrooms (1 full, 1 three-quarter); Both bathrooms on main level
• Heating & cooling: Natural gas forced-air heating; Central air; Window unit(s)
• Interior features: Ceiling fans; Pantry; Electric fireplace (1)
• Laundry & utility: Washer; Dryer; Laundry area with luxury vinyl plank flooring

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $52k.

Deal economics

• At list price, monthly cash flow is $57 ($690/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $52k).
• Recommended offer: $51k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.6% 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: Fullerton Magnet Center (math 37% / reading 47%, grade F, #319 of 502 statewide, top 68%, 458 students, 0% FRL); Alice Buffett Magnet Middle School (math 37% / reading 46%, grade F, #80 of 128 statewide, top 63%, 1,124 students, 0% FRL); Westview High School (743 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 42% at this address vs 24% district-wide (+18 pts) — the actual schools serving this property are materially stronger than the Omaha Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+7.4%/yr); 115 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $360 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 7.4% rent growth), your $15k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($51k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 52% of rent.

Recommended offer $51,220 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 2.72% ✓
• Cap rate: 7.62%
• Cash-on-cash: 4.74%
• DSCR: 1.21
• GRM: 3.1

CMA / ARV

• ARV (on-the-fly): $32,340
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4008 N 127th Plz #70	0.13mi	2/1.0	924 (0%)	4mo	$40,000	$43	86
12603 Ruggles Plz #58	0.11mi	2/1.0	896 (-3%)	2mo	$17,699	$20	84
4007 N 127 Plz #78	0.11mi	2/2.0	924 (0%)	16mo	$32,000	$35	82
12631 Spaulding Plz #316	0.02mi	2/2.0	924 (0%)	22mo	$52,000	$56	81
4024 N 127th Plz #74	0.15mi	3/2.0 (+1)	960 (+4%)	16mo	$28,500	$30	68
12620 Manderson Plz #304	0.04mi	2/1.0	1,056 (+14%)	5mo	$43,000	$41	66
12821 Glenvale Plz #178	0.17mi	3/2.0 (+1)	1,056 (+14%)	2mo	$23,000	$22	61
12809 Manderson Plz	0.14mi	2/1.0	1,056 (+14%)	6mo	$32,000	$30	61
4424 N 127th Lot 25 Plz Lot 25	0.34mi	2/1.0	900 (-3%)	19mo	$34,000	$38	60
12843 Aurora Plz #239	0.22mi	2/1.0	840 (-9%)	19mo	$18,000	$21	55
12624 Manderson Plz	0.02mi	3/2.0 (+1)	1,059 (+15%)	21mo	$70,000	$66	52

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 · 7.4% rent growth · sell at horizon

5-year hold

• IRR: 3.5%
• Equity multiple: 1.15×
• Total profit: $2,217
• Equity at exit: $7,753

10-year hold

• IRR: 20.7%
• Equity multiple: 3.60×
• Total profit: $37,832
• Equity at exit: $4,496

Cash invested: $14,560 (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 68164

• Rents YoY: 7.4%
• Active inventory: 115
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,413 high
• Mortgage (P&I): −$273
• Tax from tax record: −$28 /mo · $339/yr
• Insurance: −$22
• HOA: −$736
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $57

Break-even live

Break-even rent $1,340

Max offer price $52,000

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: $13,000
• Closing costs: $1,560
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3203 N 121st Plz Omaha, NE	1.0–2.0	1.0–2.0	1060	$1,694	$1.60	2d	8	0.65mi
11851 Roanoke Blvd Omaha, NE	2.0	1.0–2.0	984	$1,865	$1.89	3d	13	0.85mi
2718 N 118th St Omaha, NE	1.0–2.0	1.0–2.0	944	$2,150	$2.28	2d	52	0.93mi
11411 W Maple Rd Omaha, NE	1.0–2.0	1.0–1.5	875	$1,250	$1.43	14d	1	1.06mi
2606 N 115th Ct Omaha, NE	1.0	1.0	861	$912	$1.06	43d	1	1.16mi
11402 Evans St Omaha, NE	1.0–2.0	1.0–2.0	962	$1,210	$1.26	2d	17	1.20mi
12021 Decatur Plz Omaha, NE	1.0–2.0	1.0	888	$1,605	$1.81	2d	14	1.32mi
11724 Norwick Plz Omaha, NE	2.0	2.0	924	$1,350	$1.46	2d	6	1.34mi
3816 109th Plz Unit 23-03821 Omaha, NE	2.0	1.5	1030	$1,340	$1.30	23d	1	1.42mi
3816 109th Plz Unit 15-11006 Omaha, NE	1.0	1.5	870	$1,140	$1.31	23d	1	1.42mi
3816 109th Plz Unit 22-03810 Omaha, NE	1.0	1.0	850	$1,130	$1.33	23d	1	1.42mi
3816 109th Plz Unit 03-00020 Omaha, NE	1.0	1.0	670	$910	$1.36	14d	1	1.42mi
3816 109th Plz Unit 16-11011 Omaha, NE	2.0	2.5	1085	$1,440	$1.33	14d	1	1.42mi
3816 109th Plz Unit 02-00001 Omaha, NE	1.0	1.0	680	$920	$1.35	23d	1	1.42mi

HOA detail

• Monthly dues: $736 · $8,832/yr
• Likely covers: pool

Listing history 15 events

1. 2026-06-18
   days on market $52,000 Active 28 DOM
2. 2026-06-17
   days on market $52,000 Active 27 DOM
3. 2026-06-16
   days on market $52,000 Active 26 DOM
4. 2026-06-15
   price $52,000 Active 25 DOM
5. 2026-06-15
   days on market $57,000 Active 25 DOM
6. 2026-06-13
   days on market $57,000 Active 23 DOM
7. 2026-06-10
   days on market $57,000 Active 20 DOM
8. 2026-06-09
   days on market $57,000 Active 19 DOM
9. 2026-06-08
   days on market $57,000 Active 18 DOM
10. 2026-06-07
    days on market $57,000 Active 17 DOM
11. 2026-06-03
    days on market $57,000 Active 13 DOM
12. 2026-06-03
    days on market $57,000 Active 12 DOM
13. 2026-06-01
    days on market $57,000 Active 11 DOM
14. 2026-06-01
    days on market $57,000 Active 10 DOM
15. 2026-05-21
    listed $57,000 New

ⓘ 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: $339 · $28/mo
• Projected year-2 tax: $900 · $75/mo
• Expected delta: +$560/yr (+$47/mo · 165.1%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,954
• − Mortgage interest: −$2,913
• − Property taxes: −$339
• − Insurance: −$260
• − Repairs & maintenance: −$1,356
• − Management: −$1,356
• − HOA: −$8,832
• − Depreciation: −$1,513
• Taxable income: $384
• Est. tax owed @ 24.0%: −$92
• After-tax cash flow: $598/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): 28,564
• Household income: $88,927
• Rent vs Own: 33.6% rent · 66.4% own
• Severe rent burden: 711.0

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 (73%)
• Race & ethnicity: White 73% Black 12% Hispanic / Latino 8% Two or more races 8% Asian 3%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 3% Lithuanian 3% Italian 2%
• Foreign-born: 8% · Canada, Vietnam, United Kingdom
• Languages at home: 89% English-only · Spanish 5% French/Haitian/Cajun 1% Other Asian/Pacific 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: ▼ -213.21%
• Current HPI: 221.9022
• Rent YoY: ▲ 7.40%
• 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

• 2026-05-21 Listed $57,000 GPRMLS

Property tax history

+1.6%/yr

Latest (2025): $339 · +3.4% YoY. Source: county tax records.