12669 S 205th Ave · Gretna, NE 68028

$369,990

4 bd · 2.5 ba · 2,053 sqft · SingleFamily · 151 Days on market

Built 2026 6,490 sqft lot $180/sqft · at area comps Est $379k · 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).

• Cash flow +10.7/30.0
• ARV discount +8.6/15.0
• Schools +5.8/10.0
• Livability +4.1/5.0
• DSCR +3.1/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• 1% rule +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to the Bellhaven in Parkview - a two-story home with 4 bedrooms, 2.5 baths, and 2,053 sq. ft of living space for everyday living and entertaining. Step inside to find a versatile front flex room—ideal for a home office, playroom, or formal dining. A hallway leads to a guest half bath and an open-concept living space filled with natural light, highlighted by an electric fireplace and large windows. The kitchen boasts a large island, white cabinetry, stainless steel appliances, a walk-in pantry, and connects seamlessly to the dining area. Upstairs, you'll find a central laundry room, three spacious secondary bedrooms, and a full bath with double vanities. The private primary suite includes a walk-in shower, dual sinks, private water closet, and two walk-in closets for ultimate convenience. This home includes smart features and a full unfinished basement. Visit today for a personal tour! Ask about builder incentives with preferred lender. Photos similar to.

Key facts

• Open concept
• Gourmet kitchen
• Walk-in closets

Tags

• OPEN CONCEPT
• SPACIOUS STUDY
• GOURMET KITCHEN
• OVERSIZED ISLAND
• ENSUITE BATHROOM
• WALK-IN CLOSETS

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $370k.

Deal economics

• At list price, monthly cash flow is $-176 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $339k (8.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $251k (32.1% below list).
• Recommended offer: $251k (32.1% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 2.6% in Gretna — 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 82/100 on livability (#13 in NE, #1,227 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Gretna Public Schools (suburban): math 64% / reading 64% proficiency, ranked #6 of 111 in NE (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 5% free/reduced lunch — higher-income household profile.
• Zoned schools: Squire John Thomas Elementary (math 58% / reading 65%, grade B, #106 of 502 statewide, top 21%, 390 students, 15% FRL); Gretna Middle School (math 60% / reading 57%, grade B, #21 of 128 statewide, top 17%, 728 students, 14% FRL); Gretna High School (math 63% / reading 64%, grade B-, #37 of 261 statewide, top 14%, 1,729 students, 11% FRL).
• Market conditions: Rents rising (+1.9%/yr); 534 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 1,612 units permitted in Sarpy County in 2024 (364 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 $11k of value loss. Plan a longer hold.
• Sarpy County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 151 days — a 12% lower offer ($326k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Recommended offer $251,159 (32.1% 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 151 days. Have you received any prior offers? Is the seller open to a 32% 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. 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. 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: 0.68% ✗
• Cap rate: 5.72%
• Cash-on-cash: -2.04%
• DSCR: 0.91
• GRM: 12.3

CMA / ARV

• ARV (median comp): $379,132
• List price: $369,990
• Delta: -2.41%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20517 Swallowtail St	0.08mi	4/2.5	2,053 (0%)	3mo	$354,990	$173	94
12701 S 205th St	0.06mi	4/2.5	2,053 (0%)	5mo	$333,490	$162	93
12704 S 205th Ave	0.03mi	4/3.0	2,191 (+7%)	0mo	$371,990	$170	85
12712 S 205th Ave	0.04mi	4/3.0	2,191 (+7%)	1mo	$380,990	$174	84
12716 S 205th Ave	0.04mi	4/3.0	2,191 (+7%)	1mo	$387,990	$177	84
12719 S 205th Ave	0.05mi	4/3.0	2,191 (+7%)	2mo	$376,990	$172	83
20553 Swallowtail St	0.08mi	4/3.0	2,191 (+7%)	1mo	$353,990	$162	82
12512 S 205th St	0.10mi	4/3.0	2,191 (+7%)	1mo	$377,990	$173	82
20557 Swallowtail St	0.08mi	4/3.0	2,191 (+7%)	2mo	$354,990	$162	82
12530 S 206th St	0.14mi	4/3.0	2,191 (+7%)	0mo	$379,990	$173	80
12602 S 205th St	0.09mi	4/3.5	2,191 (+7%)	1mo	$365,990	$167	80
12011 S 212th St	0.75mi	3/3.5 (-1)	1,834 (-11%)	2mo	$400,000	$218	36

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 · 1.87% rent growth · sell at horizon

5-year hold

• IRR: -20.8%
• Equity multiple: 0.28×
• Total profit: $-74,194
• Equity at exit: $55,167

10-year hold

• IRR: -16.6%
• Equity multiple: 0.12×
• Total profit: $-91,205
• Equity at exit: $31,990

Cash invested: $103,597 (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 68028

• Home prices YoY: -31.0%
• Rents YoY: 1.9%
• Active inventory: 534
• Price-to-rent: 12.3×

Monthly cashflow live

• Estimated rent: $2,512 medium
• Mortgage (P&I): −$1,940
• Tax from tax record: −$66 /mo · $789/yr
• Insurance: −$154
• HOA: −$0
• Vacancy / Maint / Mgmt: −$527
• Net cashflow: $-176

Break-even live

Break-even rent $2,734

Max offer price $338,898

Occupancy floor —

Sensitivity live

Price	-10% $33	-5% $-71	+0% $-176	+5% $-281	+10% $-828
Rent	-10% $-374	-5% $-275	+0% $-176	+5% $-77	+10% $22
Rate	-1.0pp $10	-0.5pp $-82	base $-176	+0.5pp $-272	+1.0pp $-369

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: $92,498
• Closing costs: $11,100
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12660 S 204th Ave Gretna, NE	4.0	2.0	1606	$2,695	$1.68	4d	1	0.10mi

Listing history 17 events

1. 2026-06-10
   status $369,990 Pending 151 DOM
2. 2026-06-09
   days on market $369,990 Active 151 DOM
3. 2026-06-08
   days on market $369,990 Active 150 DOM
4. 2026-06-07
   days on market $369,990 Active 149 DOM
5. 2026-06-03
   days on market $369,990 Active 145 DOM
6. 2026-06-03
   days on market $369,990 Active 144 DOM
7. 2026-06-01
   days on market $369,990 Active 143 DOM
8. 2026-05-31
   days on market $369,990 Active 142 DOM
9. 2026-04-24
   price $369,990 982-char remark

   Show marketing remark (1169 chars)

   Step inside 12669 S 205th Ave in Parkview, Gretna, Ne - a two-story home with 4 bedrooms, 2.5 baths, 2,053 sq. ft. of living space. The open-concept living, kitchen, and dining areas flow seamlessly, while all bedrooms are upstairs for added privacy. Just inside the front door is a versatile flex room - ideal for a home office, playroom, or formal dining. A guest bath and staircase connect the main and upper levels. The living room features an electric fireplace and large windows for abundant natural light. The adjacent dining area has sliding glass doors, and the kitchen offers white cabinetry, a large walk-in pantry, stainless steel appliances, and a spacious island perfect for casual dining. Upstairs, a central laundry room sits near three secondary bedrooms, a full bath, and linen storage. The primary suite, located at the front over the garage, includes a double vanity bath, walk-in shower, private water closet, and two walk-in closets. Tour Parkview in Gretna today! This home is currently under construction. Photos and video may be similar but not necessarily of subject property, including interior and exterior colors, finishes and appliances.

10. 2026-04-24
    price $369,990 1169-char remark

    Show marketing remark (1169 chars)

    Step inside 12669 S 205th Ave in Parkview, Gretna, Ne - a two-story home with 4 bedrooms, 2.5 baths, 2,053 sq. ft. of living space. The open-concept living, kitchen, and dining areas flow seamlessly, while all bedrooms are upstairs for added privacy. Just inside the front door is a versatile flex room - ideal for a home office, playroom, or formal dining. A guest bath and staircase connect the main and upper levels. The living room features an electric fireplace and large windows for abundant natural light. The adjacent dining area has sliding glass doors, and the kitchen offers white cabinetry, a large walk-in pantry, stainless steel appliances, and a spacious island perfect for casual dining. Upstairs, a central laundry room sits near three secondary bedrooms, a full bath, and linen storage. The primary suite, located at the front over the garage, includes a double vanity bath, walk-in shower, private water closet, and two walk-in closets. Tour Parkview in Gretna today! This home is currently under construction. Photos and video may be similar but not necessarily of subject property, including interior and exterior colors, finishes and appliances.

11. 2026-04-10
    price $366,990 1169-char remark

    Show marketing remark (982 chars)

    Welcome to the Bellhaven in Parkview - a two-story home with 4 bedrooms, 2.5 baths, and 2,053 sq. ft of living space for everyday living and entertaining. Step inside to find a versatile front flex room—ideal for a home office, playroom, or formal dining. A hallway leads to a guest half bath and an open-concept living space filled with natural light, highlighted by an electric fireplace and large windows. The kitchen boasts a large island, white cabinetry, stainless steel appliances, a walk-in pantry, and connects seamlessly to the dining area. Upstairs, you'll find a central laundry room, three spacious secondary bedrooms, and a full bath with double vanities. The private primary suite includes a walk-in shower, dual sinks, private water closet, and two walk-in closets for ultimate convenience. This home includes smart features and a full unfinished basement. Visit today for a personal tour! Ask about builder incentives with preferred lender. Photos similar to.

12. 2026-04-10
    price $366,990 982-char remark

    Show marketing remark (982 chars)

    Welcome to the Bellhaven in Parkview - a two-story home with 4 bedrooms, 2.5 baths, and 2,053 sq. ft of living space for everyday living and entertaining. Step inside to find a versatile front flex room—ideal for a home office, playroom, or formal dining. A hallway leads to a guest half bath and an open-concept living space filled with natural light, highlighted by an electric fireplace and large windows. The kitchen boasts a large island, white cabinetry, stainless steel appliances, a walk-in pantry, and connects seamlessly to the dining area. Upstairs, you'll find a central laundry room, three spacious secondary bedrooms, and a full bath with double vanities. The private primary suite includes a walk-in shower, dual sinks, private water closet, and two walk-in closets for ultimate convenience. This home includes smart features and a full unfinished basement. Visit today for a personal tour! Ask about builder incentives with preferred lender. Photos similar to.

13. 2026-02-11
    price $364,990 1169-char remark

    Show marketing remark (1169 chars)

    Step inside 12669 S 205th Ave in Parkview, Gretna, Ne - a two-story home with 4 bedrooms, 2.5 baths, 2,053 sq. ft. of living space. The open-concept living, kitchen, and dining areas flow seamlessly, while all bedrooms are upstairs for added privacy. Just inside the front door is a versatile flex room - ideal for a home office, playroom, or formal dining. A guest bath and staircase connect the main and upper levels. The living room features an electric fireplace and large windows for abundant natural light. The adjacent dining area has sliding glass doors, and the kitchen offers white cabinetry, a large walk-in pantry, stainless steel appliances, and a spacious island perfect for casual dining. Upstairs, a central laundry room sits near three secondary bedrooms, a full bath, and linen storage. The primary suite, located at the front over the garage, includes a double vanity bath, walk-in shower, private water closet, and two walk-in closets. Tour Parkview in Gretna today! This home is currently under construction. Photos and video may be similar but not necessarily of subject property, including interior and exterior colors, finishes and appliances.

14. 2026-02-10
    price $364,990 982-char remark

    Show marketing remark (982 chars)

    Welcome to the Bellhaven in Parkview - a two-story home with 4 bedrooms, 2.5 baths, and 2,053 sq. ft of living space for everyday living and entertaining. Step inside to find a versatile front flex room—ideal for a home office, playroom, or formal dining. A hallway leads to a guest half bath and an open-concept living space filled with natural light, highlighted by an electric fireplace and large windows. The kitchen boasts a large island, white cabinetry, stainless steel appliances, a walk-in pantry, and connects seamlessly to the dining area. Upstairs, you'll find a central laundry room, three spacious secondary bedrooms, and a full bath with double vanities. The private primary suite includes a walk-in shower, dual sinks, private water closet, and two walk-in closets for ultimate convenience. This home includes smart features and a full unfinished basement. Visit today for a personal tour! Ask about builder incentives with preferred lender. Photos similar to.

15. 2026-01-09
    listed $359,990 Active 1169-char remark

    Show marketing remark (982 chars)

    Welcome to the Bellhaven in Parkview - a two-story home with 4 bedrooms, 2.5 baths, and 2,053 sq. ft of living space for everyday living and entertaining. Step inside to find a versatile front flex room—ideal for a home office, playroom, or formal dining. A hallway leads to a guest half bath and an open-concept living space filled with natural light, highlighted by an electric fireplace and large windows. The kitchen boasts a large island, white cabinetry, stainless steel appliances, a walk-in pantry, and connects seamlessly to the dining area. Upstairs, you'll find a central laundry room, three spacious secondary bedrooms, and a full bath with double vanities. The private primary suite includes a walk-in shower, dual sinks, private water closet, and two walk-in closets for ultimate convenience. This home includes smart features and a full unfinished basement. Visit today for a personal tour! Ask about builder incentives with preferred lender. Photos similar to.

16. 2026-01-09
    listed $359,990 New 982-char remark

    Show marketing remark (982 chars)

    Welcome to the Bellhaven in Parkview - a two-story home with 4 bedrooms, 2.5 baths, and 2,053 sq. ft of living space for everyday living and entertaining. Step inside to find a versatile front flex room—ideal for a home office, playroom, or formal dining. A hallway leads to a guest half bath and an open-concept living space filled with natural light, highlighted by an electric fireplace and large windows. The kitchen boasts a large island, white cabinetry, stainless steel appliances, a walk-in pantry, and connects seamlessly to the dining area. Upstairs, you'll find a central laundry room, three spacious secondary bedrooms, and a full bath with double vanities. The private primary suite includes a walk-in shower, dual sinks, private water closet, and two walk-in closets for ultimate convenience. This home includes smart features and a full unfinished basement. Visit today for a personal tour! Ask about builder incentives with preferred lender. Photos similar to.

17. 2025-08-11
    soldstatus $1,711,000

ⓘ 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: $789 · $66/mo
• Projected year-2 tax: $6,401 · $533/mo
• Expected delta: +$5,612/yr (+$468/mo · 711.5%)

ⓘ 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 ≥103°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: $30,139
• − Mortgage interest: −$20,725
• − Property taxes: −$789
• − Insurance: −$1,850
• − Repairs & maintenance: −$2,411
• − Management: −$2,411
• − Depreciation: −$10,763
• Taxable loss: −$8,810
• Est. tax savings @ 24.0%: +$2,114
• After-tax cash flow: $2/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: Gretna Public Schools
• NCES district ID: 3171220
• Math proficiency: 64% ▼ -10.00%
• Reading proficiency: 64% ▼ -4.00%
• Median HH income: $89,845
• Composite: 58.21/100
• National rank: #1023
• State rank: #6 of 111 in NE

Livability — Gretna

• Score: 82/100
• State rank: #13
• US rank: #1227

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment A- Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Sarpy County · 161,202 people
• City population: 17,529
• Metro: Omaha-Council Bluffs, NE-IA
• Population (ZIP): 17,529
• Household income: $143,604
• Rent vs Own: 16.5% rent · 83.5% own
• Severe rent burden: 339.0

Population outlook (Sarpy County) Hauer SSP2

• Today (2025): 211,769 people
• By 2030: 229,365 · +8.3%
• By 2040: 264,122 · +24.7%
• By 2050: 298,087 · +40.8%
• By 2075: 381,667 · +80.2%
• By 2100: 448,180 · +111.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Romanian 4% Iranian 3% Italian 3%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Sarpy

• 2024 margin: R (+11.7) · D 43.5% · R 55.2% · Other 1.3%
• 2008→2024 swing: +4.2pp toward D · 2008: -15.9pp · 2024: -11.7pp
• All cycles: 2024: R+11.7 2020: R+11.2 2016: R+21.8 2012: R+23.6 2008: R+15.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -108.83%
• Current HPI: 242.6423
• Rent YoY: ▲ 1.87%
• 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

-78.4% since first listed

9 events — show timeline

• 2026-04-24 Price Changed $369,990 GPRMLS
• 2026-04-24 Price Changed $369,990 Zillow
• 2026-04-10 Price Changed $366,990 Zillow
• 2026-04-10 Price Changed $366,990 GPRMLS
• 2026-02-11 Price Changed $364,990 Zillow
• 2026-02-10 Price Changed $364,990 GPRMLS
• 2026-01-09 Listed $359,990 Zillow
• 2026-01-09 Listed $359,990 GPRMLS
• 2025-08-11 Sold (Public Records) $1,711,000 Public Records

Property tax history

+39.8%/yr

Latest (2025): $789 · +0.4% YoY. Source: county tax records.