5906 N 36th St · Omaha, NE 68111

$165,000

2 bd · 1.0 ba · 1,644 sqft · SingleFamily public records · 52 Days on market

Built 1951 0.25 ac lot $100/sqft · 8% above area Est $153k · 8% over

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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 +16.8/30.0
• Appreciation +10.0/10.0
• DSCR +5.2/10.0
• 1% rule +4.2/10.0
• Livability +4.2/5.0
• ARV discount +4.1/15.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0

Listing remarks MLS

Good potential for a brick ranch. Large rooms. Full basement. REO Sold as is.

Key facts

• 0.25 acre lot
• Garage
• Built 1951

Property features AI

Exterior

• Parking: Attached garage (1-car, covered)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property; Not new (originally built in 1951); Total living area of 1,644 (including 1,144 above grade and 500 below grade)
• Construction: Built in 1951; Block foundation
• Exterior features: Lot up to 1/4 acre; Lot dimensions approximately 118 x 92; Lot included in price

Interior

• Bedrooms: Master bedroom on the main floor; Additional bedroom(s) on the main floor
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Electric forced-air heating; Central air conditioning
• Interior features: Full, partially finished basement; No fireplaces

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $107 ($1k/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 $152k (8.1% below list).
• Recommended offer: $152k (8.1% below list) — sets the bar for 1% rule.
• Cap rate 7.1% 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: Belvedere Elementary School (math 2% / reading 12%, grade F, #497 of 502 statewide, top 99%, 366 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); 140 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 4,539 units permitted in Douglas County in 2024 (2,583 in 5+ unit buildings).

Forward outlook

• In year one you build about $18k of equity ($1k loan paydown + $16k 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 $46k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 14y 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.
• Current owner paid $24k; list at $165k implies a 599% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $151,651 (8.1% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
2. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.92% ✗
• Cap rate: 7.07%
• Cash-on-cash: 2.77%
• DSCR: 1.12
• GRM: 9.1

CMA / ARV

• ARV (median comp): $153,339
• List price: $165,000
• Delta: 7.60%
• 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
3632 Ellison Ave	0.20mi	3/1.0 (+1)	1,513 (-8%)	3mo	$150,000	$99	70
4240 Nebraska Ave	0.63mi	2/1.5	1,512 (-8%)	2mo	$166,000	$110	54
3702 Summit St	0.75mi	3/2.0 (+1)	1,621 (-1%)	1mo	$189,900	$117	53
4041 Redick Ave	0.57mi	2/2.0	1,810 (+10%)	2mo	$142,500	$79	51
3442 Martin Ave	0.62mi	3/1.5 (+1)	1,510 (-8%)	2mo	$179,900	$119	48
6520 N 33 St	0.45mi	3/1.0 (+1)	1,404 (-15%)	4mo	$150,000	$107	46
5814 N 27 St	0.75mi	3/2.0 (+1)	1,597 (-3%)	6mo	$245,000	$153	46
3454 Martin Ave	0.59mi	3/2.0 (+1)	1,504 (-8%)	5mo	$203,000	$135	45
5202 N 33 St	0.50mi	3/1.0 (+1)	1,428 (-13%)	6mo	$168,000	$118	45
4032 Mary St	0.67mi	3/1.5 (+1)	1,816 (+10%)	6mo	$220,000	$121	39
2917 Ellison Ave	0.57mi	3/3.0 (+1)	1,828 (+11%)	5mo	$220,000	$120	38
3302 Larimore Ave	0.73mi	3/2.0 (+1)	1,404 (-15%)	1mo	$137,000	$98	32

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 26.3%
• Equity multiple: 3.10×
• Total profit: $96,980
• Equity at exit: $148,645

10-year hold

• IRR: 23.2%
• Equity multiple: 7.08×
• Total profit: $280,926
• Equity at exit: $320,559

Cash invested: $46,200 (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: 140
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,517 high
• Mortgage (P&I): −$865
• Tax from tax record: −$157 /mo · $1,889/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $107

Break-even live

Break-even rent $1,382

Max offer price $165,000

Occupancy floor 88%

Sensitivity live

Price	-10% $200	-5% $153	+0% $107	+5% $60	+10% $13
Rent	-10% $-13	-5% $47	+0% $107	+5% $166	+10% $226
Rate	-1.0pp $190	-0.5pp $149	base $107	+0.5pp $64	+1.0pp $20

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3901 Curtis Ave Omaha, NE	2.0	2.5	1745	$1,850	$1.06	4d	1	0.36mi
6124 N 30th St Unit STREET2 Omaha, NE	2.0	1.0	1190	$1,075	$0.90	45d	1	0.51mi
2873 Kansas Ave Omaha, NE	3.0	2.0	1112	$1,450	$1.30	24d	1	0.57mi
4707 N 40th Ave Omaha, NE	3.0	1.0	1337	$1,500	$1.12	22d	1	0.80mi
2723 Newport Ave Omaha, NE	2.0	1.0	1079	$1,450	$1.34	3d	1	0.84mi
3501 Weber Cir Omaha, NE	3.0	2.0	1600	$1,700	$1.06	11d	1	0.91mi
2436 Laurel Ave Omaha, NE	3.0	1.0	1582	$1,495	$0.95	24d	1	0.91mi
4655 Curtis Ave Omaha, NE	3.0	2.0	2000	$1,900	$0.95	45d	1	0.91mi
3030 Ernst St Omaha, NE	3.0	2.0	1500	$1,500	$1.00	3d	1	0.97mi
4657 Camden Ave Omaha, NE	3.0	1.0	1250	$1,500	$1.20	45d	1	1.09mi
4918 Ames Ave Unit 17 Omaha, NE	2.0	1.5	1074	$850	$0.79	24d	1	1.41mi

Listing history 20 events

1. 2026-06-21
   days on market $165,000 Active 52 DOM
2. 2026-06-18
   days on market $165,000 Active 49 DOM
3. 2026-06-17
   days on market $165,000 Active 48 DOM
4. 2026-06-16
   days on market $165,000 Active 47 DOM
5. 2026-06-15
   days on market $165,000 Active 46 DOM
6. 2026-06-13
   days on market $165,000 Active 44 DOM
7. 2026-06-10
   days on market $165,000 Active 41 DOM
8. 2026-06-09
   days on market $165,000 Active 40 DOM
9. 2026-06-08
   days on market $165,000 Active 39 DOM
10. 2026-06-07
    days on market $165,000 Active 38 DOM
11. 2026-06-03
    days on market $165,000 Active 34 DOM
12. 2026-06-03
    days on market $165,000 Active 33 DOM
13. 2026-06-01
    days on market $165,000 Active 32 DOM
14. 2026-06-01
    days on market $165,000 Active 31 DOM
15. 2026-04-30
    listed $165,000 New 319-char remark
16. 2013-01-29
    soldstatus $23,600
17. 2013-01-28
    soldstatus $23,500 80-char remark

    Show marketing remark (80 chars)

    Good potential for a brick ranch. Large rooms. Full basement. REO Sold as is.

18. 2012-12-12
    historical 80-char remark

    Show marketing remark (80 chars)

    Good potential for a brick ranch. Large rooms. Full basement. REO Sold as is.

19. 2012-12-05
    listed $20,000 80-char remark

    Show marketing remark (80 chars)

    Good potential for a brick ranch. Large rooms. Full basement. REO Sold as is.

20. 1993-06-09
    soldstatus $43,000

ⓘ 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: $1,889 · $157/mo
• Projected year-2 tax: $2,854 · $238/mo
• Expected delta: +$965/yr (+$80/mo · 51.1%)

ⓘ 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 (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: $18,198
• − Mortgage interest: −$9,243
• − Property taxes: −$1,889
• − Insurance: −$825
• − Repairs & maintenance: −$1,456
• − Management: −$1,456
• − Depreciation: −$4,800
• Taxable loss: −$1,471
• Est. tax savings @ 24.0%: +$353
• After-tax cash flow: $1,632/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

+283.7% since first listed

6 events — show timeline

• 2026-04-30 Listed $165,000 GPRMLS
• 2013-01-29 Sold (Public Records) $23,600 Public Records
• 2013-01-28 Sold (MLS) $23,500 GPRMLS
• 2012-12-12 Listing Removed — GPRMLS
• 2012-12-05 Listed $20,000 GPRMLS
• 1993-06-09 Sold (Public Records) $43,000 Public Records

Property tax history

+12.9%/yr

Latest (2025): $1,889 · +15.0% YoY. Source: county tax records.