1536 S 24th St · Omaha, NE 68108

$199,990

4 bd · 1.0 ba · 1,674 sqft · Other public records · 3 Days on market

Built 1912 4,792 sqft lot ↓ 20% since listing

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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 +15.3/30.0
• ARV discount +7.5/15.0
• DSCR +4.7/10.0
• Livability +4.2/5.0
• 1% rule +3.8/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Full of personality and packed with updates, this 1.5-story Midtown charmer is ready to impress 2 bedrooms on main and 2 bedrooms upstairs! Pull right into the 3-stall parking area and step into your private party patio, oversized storage shed, and fully fenced yard—perfect for entertaining. Enjoy peace of mind with updated roof, maintenance-free vinyl siding, and HVAC. Inside, the expansive kitchen shines with a breakfast bar, abundant cabinetry, and high-end appliances including a gas cooktop. Main floor features laundry, a character-filled dining room, bright living area with natural light, and two bedrooms. Upstairs offers two oversized bedrooms with incredible space. Enclosed fro

Key facts

• High end appliances
• Updated roof
• Private party patio

Tags

• PRIVATE PARTY PATIO
• OVERSIZED STORAGE SHED
• FULLY FENCED YARD
• UPDATED ROOF
• MAINTENANCE FREE VINYL SIDING
• HIGH END APPLIANCES

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath other listed at $200k.

Deal economics

• At list price, monthly cash flow is $73 ($877/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 $177k (11.7% below list).
• Recommended offer: $177k (11.7% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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: Liberty Elementary School (math 10% / reading 15%, grade F, #487 of 502 statewide, top 97%, 626 students, 0% FRL); Norris Middle School (math 11% / reading 16%, grade F, #126 of 128 statewide, top 98%, 1,187 students, 0% FRL); Central High School (math 29% / reading 40%, grade F, #208 of 261 statewide, top 86%, 2,738 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.
• Market conditions: Rents flat; 73 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 4,539 units permitted in Douglas County in 2024 (2,583 in 5+ unit buildings).
• This rent runs 40% of the median local income ($54k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 4y 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.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $176,610 (11.7% below list)

Questions for the listing agent

1. Built in 1912 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
5. 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.
6. 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.
7. 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: 0.88% ✗
• Cap rate: 6.73%
• Cash-on-cash: 1.57%
• DSCR: 1.07
• GRM: 9.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.85% rent growth · sell at horizon

5-year hold

• IRR: -16.2%
• Equity multiple: 0.44×
• Total profit: $-31,501
• Equity at exit: $29,819

10-year hold

• IRR: -12.0%
• Equity multiple: 0.35×
• Total profit: $-36,176
• Equity at exit: $17,291

Cash invested: $55,997 (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 68108

• Home prices YoY: -19.0%
• Rents YoY: 0.8%
• Active inventory: 73
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,766 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$190 /mo · $2,280/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$371
• Net cashflow: $73

Break-even live

Break-even rent $1,674

Max offer price $199,990

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: $49,998
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1012 S 24th St Omaha, NE	1.0–3.0	1.0	918	$1,150	$1.25	2d	5	0.41mi
1618 Martha St Unit 2 (Top) Omaha, NE	3.0	1.0	1117	$1,150	$1.03	43d	1	0.60mi
1029 Park Ave Unit 3B Omaha, NE	3.0	1.0	1112	$1,295	$1.16	43d	1	0.60mi
629 S 19th Ave Omaha, NE	3.0	2.0	1364	$1,350	$0.99	43d	1	0.71mi
806 Park Ave Omaha, NE	3.0	3.0	1650	$2,395	$1.45	23d	2	0.73mi
554 S 26th Ave Omaha, NE	3.0	1.0	1484	$1,400	$0.94	2d	1	0.74mi
2219 S 14th St Omaha, NE	3.0	2.0	1224	$1,380	$1.13	43d	1	0.75mi
2211 Howard St Omaha, NE	3.0	1.0–3.0	837	$2,410	$2.88	2d	48	0.77mi
528 S 26th Ave Ste B Omaha, NE	4.0	1.0	1748	$1,650	$0.94	2d	1	0.80mi
2915 Jackson St Unit 2 Omaha, NE	3.0	1.0	1100	$1,195	$1.09	2d	1	0.82mi
424 S 24th St Unit 109 Omaha, NE	4.0	2.0	1170	$1,400	$1.20	2d	1	0.82mi
542 S 29th St Omaha, NE	3.0	1.5	1442	$1,750	$1.21	14d	1	0.84mi
3124 S 21st St Omaha, NE	3.0	2.0	1325	$1,745	$1.32	19d	1	0.99mi
3001 Harney St Omaha, NE	3.0	3.0	1764	$2,395	$1.36	43d	1	1.00mi
2612 S 12th St Omaha, NE	3.0	2.0	1100	$2,100	$1.91	14d	1	1.00mi
3403 Arbor St Omaha, NE	5.0	2.0	1556	$2,500	$1.61	2d	1	1.02mi
206 S 19th St Omaha, NE	1.0–3.0	1.0–3.0	918	$1,935	$2.11	2d	60	1.03mi
1919 Dahlman Rows Plz Omaha, NE	3.0	3.5	1800	$2,800	$1.56	14d	1	1.16mi
3209 S 32nd Ave Omaha, NE	3.0	2.0	1872	$1,995	$1.07	43d	1	1.23mi
3940 Arbor St Omaha, NE	3.0	1.0	1316	$1,800	$1.37	43d	1	1.47mi
106 S 36th St Omaha, NE	3.0	3.0	1750	$2,275	$1.30	2d	1	1.48mi
4015 Marcy St Omaha, NE	3.0	1.0	1238	$1,695	$1.37	14d	1	1.49mi
411 S 38th Ave Omaha, NE	3.0	3.0	1872	$1,995	$1.07	43d	1	1.50mi

Listing history 14 events

1. 2026-04-25
   status Pending
2. 2026-04-21
   listed $199,990 New
3. 2026-04-21
   historical
4. 2026-04-08
   listed $225,000 New
5. 2026-04-08
   historical
6. 2026-03-28
   price $235,000
7. 2026-03-25
   listed $250,000 New
8. 2026-03-24
   historical
9. 2026-03-21
   listed $250,000
10. 2023-07-27
    historical
11. 2023-04-25
    price $240,000
12. 2023-03-23
    listed $250,000 New
13. 2022-10-13
    historical
14. 2022-08-26
    listed $250,000 Active - 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: $2,280 · $190/mo
• Projected year-2 tax: $3,460 · $288/mo
• Expected delta: +$1,180/yr (+$98/mo · 51.7%)

ⓘ 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 ≥103°F today · 15 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: $21,193
• − Mortgage interest: −$11,203
• − Property taxes: −$2,280
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,695
• − Management: −$1,695
• − Depreciation: −$5,818
• Taxable loss: −$2,498
• Est. tax savings @ 24.0%: +$600
• After-tax cash flow: $1,477/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): 14,578
• Household income: $53,609
• Rent vs Own: 46.8% rent · 53.2% own
• Severe rent burden: 511.0

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 0.57)
• Race & ethnicity: Hispanic / Latino 47% White 45% Two or more races 18% Black 2% Native American 2% Asian 1%
• Hispanic origin (detail): Mexican 33%
• Common ancestry: Romanian 3% Lithuanian 2% Portuguese 2%
• Foreign-born: 21% · Canada
• Languages at home: 57% English-only · Spanish 40% Korean 2%

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: ▼ -75.17%
• Current HPI: 320.3596
• Rent YoY: ▲ 0.85%
• 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

-20.0% since first listed

14 events — show timeline

• 2026-04-25 Pending — GPRMLS
• 2026-04-21 Listing Removed — GPRMLS
• 2026-04-21 Listed $199,990 GPRMLS
• 2026-04-08 Listing Removed — GPRMLS
• 2026-04-08 Listed $225,000 GPRMLS
• 2026-03-28 Price Changed $235,000 GPRMLS
• 2026-03-25 Listed $250,000 GPRMLS
• 2026-03-24 Listing Removed — GPRMLS
• 2026-03-21 Listed $250,000 GPRMLS
• 2023-07-27 Listing Removed — GPRMLS
• 2023-04-25 Price Changed $240,000 GPRMLS
• 2023-03-23 Listed $250,000 GPRMLS
• 2022-10-13 Listing Removed — GPRMLS
• 2022-08-26 Listed $250,000 GPRMLS

Property tax history

+6.1%/yr

Latest (2024): $2,280 · +76.5% YoY. Source: county tax records.