3509 N 29th St · Omaha, NE 68111

$149,000

3 bd · 1.0 ba · 2,058 sqft · Other public records · 16 Days on market

Built 1900 5,970 sqft lot

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Why this score? — see what drove the B 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 +26.0/30.0
• Appreciation +10.0/10.0
• DSCR +8.8/10.0
• ARV discount +7.5/15.0
• 1% rule +7.1/10.0
• Livability +4.2/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0

Listing remarks MLS

Amazing turnkey single family rental or personal home. Great looking Ranch style home. 2 bedrooms on the main floor and 1 more in the attic. Big living room with 1 main bathroom in between both bedrooms. Alley access behind the house. Just minutes from the North Freeway (U.S.75). Property is currently occupied as a rental.

Key facts

• Alley access
• New roof
• New windows

Tags

• NEW ROOF
• NEW WINDOWS
• EXTENSIVE INTERIOR RENOVATIONS
• ALLEY ACCESS
• QUICK ACCESS TO NORTH FREEWAY

Property features AI

Exterior

• Parking: Off-street parking; Garage door opener
• Utilities: Electricity available; Natural gas available; Public water; Public sewer
• Home design: Single-family residence; One-and-one-half story; Not new (existing home)
• Construction: Vinyl siding; Composition roof; Brick/mortar foundation; Built in 1900
• Exterior features: Porch; Window coverings; Partial chain link fencing; Public sidewalk and alley

Interior

• Kitchen: Range; Microwave; Dining area; Laminate flooring in kitchen
• Bedrooms: Primary bedroom on 2nd floor with wall-to-wall carpeting; Additional bedrooms on main floor with wall-to-wall carpeting and window coverings
• Flooring: Carpet; Laminate
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Natural gas forced air heating; Central air conditioning
• Interior features: One fireplace; Window coverings throughout; Storage room in basement
• Laundry & utility: Laundry area with laminate flooring

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $149k.

Deal economics

• At list price, monthly cash flow is $371 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $149k).
• Recommended offer: $147k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.3% 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: Druid Hill Elementary School (math 12% / reading 12%, grade F, #489 of 502 statewide, top 98%, 279 students, 0% FRL); Monroe Middle School (math 8% / reading 15%, grade F, #127 of 128 statewide, top 99%, 769 students, 0% FRL); North High School (math 21% / reading 25%, grade F, #247 of 261 statewide, top 95%, 1,796 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 rising (+3.2%/yr); 139 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 4,539 units permitted in Douglas County in 2024 (2,583 in 5+ unit buildings).
• At $1,807/mo this rent would consume 51% of the median local household income ($42k/yr) (locally 1913% 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 $16k of equity ($1k loan paydown + $15k 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 $42k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($147k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 5y 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 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $146,765 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — 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. 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: 1.21% ✓
• Cap rate: 9.28%
• Cash-on-cash: 10.68%
• DSCR: 1.48
• GRM: 6.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 32.2%
• Equity multiple: 3.52×
• Total profit: $105,234
• Equity at exit: $134,231

10-year hold

• IRR: 27.9%
• Equity multiple: 8.00×
• Total profit: $292,215
• Equity at exit: $289,474

Cash invested: $41,720 (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: 6.9×

Monthly cashflow live

• Estimated rent: $1,807 medium
• Mortgage (P&I): −$781
• Tax from tax record: −$213 /mo · $2,557/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$380
• Net cashflow: $371

Break-even live

Break-even rent $1,337

Max offer price $149,000

Occupancy floor 74%

Sensitivity live

Price	-10% $456	-5% $413	+0% $371	+5% $329	+10% $287
Rent	-10% $228	-5% $300	+0% $371	+5% $443	+10% $514
Rate	-1.0pp $446	-0.5pp $409	base $371	+0.5pp $333	+1.0pp $293

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2416 Fowler Ave Omaha, NE	4.0	2.0	2169	$1,950	$0.90	15d	1	0.79mi
3314 Franklin St Omaha, NE	4.0	2.0	1635	$1,600	$0.98	44d	1	1.18mi
5348 N 25th St Omaha, NE	4.0	1.0	1446	$1,600	$1.11	44d	1	1.25mi
4240 Fowler Ave Omaha, NE	4.0	2.0	1956	$1,895	$0.97	24d	1	1.39mi

Listing history 26 events

1. 2026-06-18
   days on market $149,000 Active 16 DOM
2. 2026-06-17
   days on market $149,000 Active 15 DOM
3. 2026-06-16
   days on market $149,000 Active 14 DOM
4. 2026-06-15
   days on market $149,000 Active 13 DOM
5. 2026-06-13
   days on market $149,000 Active 11 DOM
6. 2026-06-10
   remarks 697-char remark
7. 2026-06-10
   days on market $149,000 Active 8 DOM
8. 2026-06-09
   days on market $149,000 Active 7 DOM
9. 2026-06-08
   days on market $149,000 Active 6 DOM
10. 2026-06-07
    statusdays on market $149,000 Active 5 DOM
11. 2026-06-03
    remarks 650-char remark
12. 2026-06-03
    pricestatusdays on marketlisting id $149,000 New 1 DOM
13. 2026-05-08
    historical
14. 2026-03-19
    listed $160,000 New
15. 2023-07-20
    soldstatus $136,000
16. 2023-07-14
    soldstatus $136,000 Sold 324-char remark

    Show marketing remark (324 chars)

    Amazing turnkey single family rental or personal home. Great looking Ranch style home. 2 bedrooms on the main floor and 1 more in the attic. Big living room with 1 main bathroom in between both bedrooms. Alley access behind the house. Just minutes from the North Freeway (U.S.75). Property is currently occupied as a rental.

17. 2023-05-22
    status Pending 324-char remark

    Show marketing remark (324 chars)

    Amazing turnkey single family rental or personal home. Great looking Ranch style home. 2 bedrooms on the main floor and 1 more in the attic. Big living room with 1 main bathroom in between both bedrooms. Alley access behind the house. Just minutes from the North Freeway (U.S.75). Property is currently occupied as a rental.

18. 2022-11-24
    listed $150,000 Active - New 324-char remark

    Show marketing remark (324 chars)

    Amazing turnkey single family rental or personal home. Great looking Ranch style home. 2 bedrooms on the main floor and 1 more in the attic. Big living room with 1 main bathroom in between both bedrooms. Alley access behind the house. Just minutes from the North Freeway (U.S.75). Property is currently occupied as a rental.

19. 2022-11-24
    historical

    Show marketing remark (324 chars)

    Amazing turnkey single family rental or personal home. Great looking Ranch style home. 2 bedrooms on the main floor and 1 more in the attic. Big living room with 1 main bathroom in between both bedrooms. Alley access behind the house. Just minutes from the North Freeway (U.S.75). Property is currently occupied as a rental.

20. 2022-09-01
    listed $150,000 Active - New
21. 2022-01-14
    soldstatus $65,000 Sold
22. 2022-01-14
    soldstatus $65,000
23. 2021-12-30
    status Pending
24. 2021-12-09
    listed $75,000 Active - New
25. 2021-12-08
    historical
26. 2021-10-29
    listed $85,000 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: $2,557 · $213/mo
• Projected year-2 tax: $2,578 · $215/mo
• Expected delta: +$21/yr (+$2/mo · 0.8%)

ⓘ 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 ≥105°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: $21,686
• − Mortgage interest: −$8,346
• − Property taxes: −$2,557
• − Insurance: −$745
• − Repairs & maintenance: −$1,735
• − Management: −$1,735
• − Depreciation: −$4,335
• Taxable income: $2,234
• Est. tax owed @ 24.0%: −$536
• After-tax cash flow: $3,918/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

+75.3% since first listed

15 events — show timeline

• 2026-06-02 Listed $149,000 GPRMLS
• 2026-05-08 Listing Removed — GPRMLS
• 2026-03-19 Listed $160,000 GPRMLS
• 2023-07-20 Sold (Public Records) $136,000 Public Records
• 2023-07-14 Sold (MLS) $136,000 GPRMLS
• 2023-05-22 Pending — GPRMLS
• 2022-11-24 Listing Removed — GPRMLS
• 2022-11-24 Listed $150,000 GPRMLS
• 2022-09-01 Listed $150,000 GPRMLS
• 2022-01-14 Sold (Public Records) $65,000 Public Records
• 2022-01-14 Sold (MLS) $65,000 GPRMLS
• 2021-12-30 Pending — GPRMLS
• 2021-12-09 Listed $75,000 GPRMLS
• 2021-12-08 Listing Removed — GPRMLS
• 2021-10-29 Listed $85,000 GPRMLS

Property tax history

+6.5%/yr

Latest (2025): $2,557 · -5.3% YoY. Source: county tax records.