2008 N 48th St · Omaha, NE 68104

$134,900

3 bd · 1.0 ba · 1,016 sqft · Other public records · 80 Days on market

Built 1922 6,750 sqft lot

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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 +21.8/30.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 1% rule +6.0/10.0
• Livability +4.2/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Contract Pending. This midtown home has great potential to add some sweat equity, or as an investment property. 2 beds on main level, plus finished dormer upstairs. Unfinished basement for potential additional living space. Newer Roof, Furnace & AC! Off street parking. Seller intends to do a 1031 tax deferred exchange at closing with no additional cost to buyer. Agent has equity.

Key facts

• Bright kitchen
• Updated interior
• Tile flooring

Tags

• UPDATED INTERIOR
• SPACIOUS LIVING ROOM
• SEPARATE DINING AREA
• BRIGHT KITCHEN
• CLASSIC WHITE CABINETRY
• TILE FLOORING

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $135k.

Deal economics

• At list price, monthly cash flow is $209 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $135k).
• Recommended offer: $127k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.2% 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: Harrison Elementary School (math 57% / reading 57%, grade C+, #136 of 502 statewide, top 31%, 260 students, 0% FRL); Lewis & Clark Middle School (math 23% / reading 35%, grade F, #115 of 128 statewide, top 90%, 860 students, 0% FRL); Benson High School (math 9% / reading 12%, grade F, #257 of 261 statewide, top 98%, 1,570 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 (+2.4%/yr); 176 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $933 of loan paydown is wiped out by about $4k 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

• It's been on market 80 days — a 6% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 20y ago; this cycle's ask has dropped $15k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $126,806 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 6% 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: 1.10% ✓
• Cap rate: 8.15%
• Cash-on-cash: 6.64%
• DSCR: 1.30
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.35% rent growth · sell at horizon

5-year hold

• IRR: -6.8%
• Equity multiple: 0.75×
• Total profit: $-9,471
• Equity at exit: $20,114

10-year hold

• IRR: 2.0%
• Equity multiple: 1.14×
• Total profit: $5,157
• Equity at exit: $11,664

Cash invested: $37,772 (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 68104

• Rents YoY: 2.4%
• Active inventory: 176
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,483 high
• Mortgage (P&I): −$707
• Tax from tax record: −$199 /mo · $2,390/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$311
• Net cashflow: $209

Break-even live

Break-even rent $1,219

Max offer price $134,900

Occupancy floor 81%

Sensitivity live

Price	-10% $285	-5% $247	+0% $209	+5% $171	+10% $133
Rent	-10% $92	-5% $150	+0% $209	+5% $268	+10% $326
Rate	-1.0pp $277	-0.5pp $243	base $209	+0.5pp $174	+1.0pp $138

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1306 N 48th Ave Unit 1313258 Omaha, NE	2.0	1.0	994	$875	$0.88	4d	1	0.47mi
4874 Maple St Omaha, NE	3.0	1.0	1098	$1,545	$1.41	44d	1	0.51mi
1112 N 50th Ave Omaha, NE	2.0	1.0	1200	$1,450	$1.21	15d	1	0.53mi
2914 N 49th Ave Omaha, NE	3.0	1.0	1375	$1,615	$1.17	24d	1	0.55mi
4821 Nicholas St Apt 2 Omaha, NE	2.0	1.0	720	$1,100	$1.53	44d	1	0.56mi
4821 Nicholas St Omaha, NE	2.0	1.0	740	$1,100	$1.49	24d	1	0.56mi
3002 N 48th Ave Omaha, NE	4.0	2.0	1205	$1,550	$1.29	24d	1	0.56mi
915 N 48th Ave Apt 15 Omaha, NE	2.0	1.0	950	$990	$1.04	44d	1	0.65mi
4276 Binney St Omaha, NE	4.0	1.0	1358	$1,495	$1.10	44d	1	0.66mi
4102 Hamilton St Omaha, NE	2.0	1.0	811	$1,120	$1.38	3d	1	0.68mi
4102 Hamilton St Unit 014 Omaha, NE	2.0	1.0	811	$1,120	$1.38	24d	1	0.68mi
5633 Parker St Omaha, NE	3.0	1.5	1200	$1,695	$1.41	44d	1	0.81mi
4824 Webster St Unit 4824/4824 Omaha, NE	4.0	1.0	1317	$1,050	$0.80	44d	1	0.82mi
4201 Cuming St Omaha, NE	2.0	1.0	1272	$1,350	$1.06	4d	1	0.87mi
3508 N 47th Ave Omaha, NE	3.0	1.0	1425	$1,600	$1.12	20d	1	0.88mi
3425 N 45th St Omaha, NE	2.0	1.0	872	$1,500	$1.72	15d	1	0.90mi
828 N 41st Ave Omaha, NE	2.0	1.0	1264	$1,700	$1.34	15d	1	0.92mi
4903 Underwood Ave Unit 11 Omaha, NE	2.0	1.0	950	$1,300	$1.37	44d	1	0.93mi
4918 California St Omaha, NE	3.0	1.0	1369	$1,695	$1.24	24d	1	0.96mi
3535 N 45th Ave Omaha, NE	3.0	1.0	1325	$1,800	$1.36	44d	1	0.97mi
5016 California St #12 Omaha, NE	2.0	2.0	1084	$1,600	$1.48	24d	1	0.99mi
4410 Cass St Omaha, NE	2.0	1.0	864	$1,500	$1.74	24d	1	1.01mi
4728 Chicago St Unit 10 Omaha, NE	2.0	1.0	800	$1,095	$1.37	4d	1	1.02mi
3356 N 41st St Omaha, NE	2.0	1.0	720	$1,295	$1.80	24d	1	1.03mi
5119 Pratt St Omaha, NE	3.0	1.0	1008	$1,900	$1.88	44d	1	1.05mi
5833 Lafayette Ave Unit 5833 Omaha, NE	2.0	1.0	900	$1,295	$1.44	24d	1	1.06mi
2817 N 60th St Unit 2821/02 Omaha, NE	3.0	1.0	1188	$1,045	$0.88	24d	1	1.07mi
2817 N 60th St Unit 2817/02 Omaha, NE	3.0	1.0	1188	$1,500	$1.26	4d	1	1.07mi
3323 N 40th St Omaha, NE	2.0	1.0	1000	$1,575	$1.57	4d	1	1.07mi
406 N 49th St Unit 5 Omaha, NE	2.0	2.0	1000	$1,199	$1.20	24d	1	1.07mi
6020 Franklin St Omaha, NE	3.0	1.5	1216	$1,900	$1.56	44d	1	1.08mi
3808 N 48th St Omaha, NE	3.0	2.0	1400	$2,000	$1.43	4d	1	1.08mi
1210 N 60th St Unit 4 Omaha, NE	2.0	1.0	900	$1,400	$1.56	44d	1	1.10mi
4817 Chicago St Unit 11 Omaha, NE	2.0	1.0	1250	$1,195	$0.96	44d	1	1.10mi
1004 Glenwood Ave Unit 2 Omaha, NE	3.0	1.5	1000	$1,500	$1.50	4d	1	1.11mi
4903 Chicago St Omaha, NE	1.0–2.0	1.0–2.0	1100	$1,250	$1.14	22d	1	1.11mi
3502 Lake St Omaha, NE	2.0	1.0	974	$995	$1.02	3d	1	1.12mi
6066 Charles St Omaha, NE	2.0	1.0	910	$1,700	$1.87	20d	1	1.12mi
3430 Seward St Omaha, NE	3.0	1.0	1371	$1,695	$1.24	15d	1	1.17mi
3674 Bedford Ave Omaha, NE	3.0	1.0	864	$1,275	$1.48	24d	1	1.19mi

Listing history 14 events

1. 2026-04-06
   status Pending
2. 2026-03-25
   price $134,900
3. 2026-03-06
   price $139,900
4. 2026-01-16
   listed $149,900 New
5. 2023-12-11
   soldstatus $4,540,000
6. 2022-06-30
   soldstatus $120,000
7. 2022-06-29
   soldstatus $120,000 Sold 389-char remark

   Show marketing remark (389 chars)

   Contract Pending. This midtown home has great potential to add some sweat equity, or as an investment property. 2 beds on main level, plus finished dormer upstairs. Unfinished basement for potential additional living space. Newer Roof, Furnace & AC! Off street parking. Seller intends to do a 1031 tax deferred exchange at closing with no additional cost to buyer. Agent has equity.

8. 2022-06-17
   status Pending 389-char remark

   Show marketing remark (389 chars)

   Contract Pending. This midtown home has great potential to add some sweat equity, or as an investment property. 2 beds on main level, plus finished dormer upstairs. Unfinished basement for potential additional living space. Newer Roof, Furnace & AC! Off street parking. Seller intends to do a 1031 tax deferred exchange at closing with no additional cost to buyer. Agent has equity.

9. 2022-06-15
   listed $115,000 Active - New 389-char remark

   Show marketing remark (389 chars)

   Contract Pending. This midtown home has great potential to add some sweat equity, or as an investment property. 2 beds on main level, plus finished dormer upstairs. Unfinished basement for potential additional living space. Newer Roof, Furnace & AC! Off street parking. Seller intends to do a 1031 tax deferred exchange at closing with no additional cost to buyer. Agent has equity.

10. 2006-02-10
    soldstatus $51,666
11. 2006-02-08
    soldstatus $48,500 304-char remark

    Show marketing remark (304 chars)

    Good investment property. Walk up attic is essentially finished for third bedroom/playroom. Large eat-in kitchen. Flat backyard with alley access and parking pad. Needs some TLC. Recent appraisal for $75,000. Sold AS IS, seller will do no repairs. Estate-exempt from seller property condition disclosure.

12. 2006-01-20
    historical 304-char remark

    Show marketing remark (304 chars)

    Good investment property. Walk up attic is essentially finished for third bedroom/playroom. Large eat-in kitchen. Flat backyard with alley access and parking pad. Needs some TLC. Recent appraisal for $75,000. Sold AS IS, seller will do no repairs. Estate-exempt from seller property condition disclosure.

13. 2006-01-17
    listed $50,000 304-char remark

    Show marketing remark (304 chars)

    Good investment property. Walk up attic is essentially finished for third bedroom/playroom. Large eat-in kitchen. Flat backyard with alley access and parking pad. Needs some TLC. Recent appraisal for $75,000. Sold AS IS, seller will do no repairs. Estate-exempt from seller property condition disclosure.

14. 1999-09-15
    soldstatus $13,000

ⓘ 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: $2,390 · $199/mo
• Projected year-2 tax: $2,390 · $199/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $17,799
• − Mortgage interest: −$7,556
• − Property taxes: −$2,390
• − Insurance: −$674
• − Repairs & maintenance: −$1,424
• − Management: −$1,424
• − Depreciation: −$3,924
• Taxable income: $406
• Est. tax owed @ 24.0%: −$98
• After-tax cash flow: $2,411/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): 36,673
• Household income: $60,549
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 1738.0

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 0.68)
• Race & ethnicity: White 50% Black 23% Asian 12% Two or more races 11% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Slovak 2% Lithuanian 2% Romanian 2%
• Foreign-born: 13% · Philippines, Canada, India
• Languages at home: 83% English-only · Other Asian/Pacific 8% Spanish 5% Other Indo-European 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: ▼ -196.54%
• Current HPI: 298.8625
• Rent YoY: ▲ 2.35%
• 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

+937.7% since first listed

14 events — show timeline

• 2026-04-06 Pending — GPRMLS
• 2026-03-25 Price Changed $134,900 GPRMLS
• 2026-03-06 Price Changed $139,900 GPRMLS
• 2026-01-16 Listed $149,900 GPRMLS
• 2023-12-11 Sold (Public Records) $4,540,000 Public Records
• 2022-06-30 Sold (Public Records) $120,000 Public Records
• 2022-06-29 Sold (MLS) $120,000 GPRMLS
• 2022-06-17 Pending — GPRMLS
• 2022-06-15 Listed $115,000 GPRMLS
• 2006-02-10 Sold (Public Records) $51,666 Public Records
• 2006-02-08 Sold (MLS) $48,500 GPRMLS
• 2006-01-20 Listing Removed — GPRMLS
• 2006-01-17 Listed $50,000 GPRMLS
• 1999-09-15 Sold (Public Records) $13,000 Public Records

Property tax history

+8.6%/yr

Latest (2025): $2,390 · +6.2% YoY. Source: county tax records.