3982 S 151 Plz #172 · Omaha, NE 68144-9999

$90,000

3 bd · 2.0 ba · 1,248 sqft · Manufactured public records · 34 Days on market

Built 2015 $72/sqft · 59% above area $567/mo HOA · 33% of rent ↓ 5% since listing

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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 +24.8/30.0
• 1% rule +10.0/10.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• Schools +5.3/10.0
• Appreciation +5.0/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

This 2015 home features vaulted ceilings in the living room and kitchen, creating an open feel. The kitchen offers ample cabinet space, an island, and dining area. The living room has newer LVP flooring, which continues into the laundry room. You'll find 3 bedrooms, including a primary suite with a ¾ bathroom. The additional 2 bedrooms are nicely sized. A side entrance off the laundry room leads to a small deck/patio. Outside includes a Tuff Shed, newer 2 carport, Well maintained by the same owner since 2015. Freshly painted, push-button window blinds throughout, and ready for new owners. Located in the desirable Millard area with easy access to Lake Zorinsky, Oak View Mall, and Dow

Key facts

• Small deck
• Tuff shed
• Ample cabinet space

Tags

• VAULTED CEILINGS
• AMPLE CABINET SPACE
• SMALL DECK
• TUFF SHED
• EASY ACCESS TO LAKE ZORINSKY
• EASY ACCESS TO OAK VIEW MALL

Property features AI

Finance

• HOA & community: Meadow Brook association with a monthly fee (includes exterior maintenance)

Exterior

• Parking: Two parking spaces total; Two covered spaces (carport)
• Utilities: Public water; Sewer available; Electricity available on property; Natural gas available; Cable available
• Home design: Residential mobile home; Not new (pre-owned); Built in 2015; Above-grade finished living area
• Construction: Vinyl siding; Composition roof; Other foundation
• Exterior features: Porch and patio; Chain-link full yard fencing; Shed(s) on property; City lot

Interior

• Kitchen: Refrigerator; Dishwasher; Disposal; Laminate flooring in kitchen
• Bedrooms: Main-floor primary bedroom with carpeting, window covering, and ceiling fan; Two additional main-floor bedrooms with carpeting and ceiling fan (one also has window covering)
• Flooring: Carpet; Luxury vinyl plank
• Bathrooms: Two bathrooms total: one full bath and one three-quarter primary bath (both on main level)
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: High ceilings; Window coverings throughout; Ceiling fans in bedrooms
• Laundry & utility: Laundry area with laminate flooring

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $90k.

Deal economics

• At list price, monthly cash flow is $191 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.8% 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.
• Millard Public Schools (urban): math 58% / reading 60% proficiency, ranked #13 of 111 in NE (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 13% free/reduced lunch — higher-income household profile.
• Zoned schools: Bryan Elementary School (math 37% / reading 42%, grade F, #346 of 502 statewide, top 74%, 381 students, 57% FRL); Harry Andersen Middle School (math 43% / reading 49%, grade D+, #60 of 128 statewide, top 48%, 911 students, 31% FRL); Millard South High School (math 51% / reading 54%, grade C-, #97 of 261 statewide, top 37%, 2,607 students, 36% FRL) — zoned schools average 41% FRL vs 13% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 46% at this address vs 59% district-wide (-13 pts) — the specific schools serving this property underperform the Millard Public Schools average; the district grade overstates school quality for this exact location.
• Market conditions: 2 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 4,539 units permitted in Douglas County in 2024 (2,583 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($622 loan paydown + $3k appreciation (3.0% local appreciation)).
• Douglas County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 33% of rent.

Recommended offer $87,300 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 1.93% ✓
• Cap rate: 8.84%
• Cash-on-cash: 9.10%
• DSCR: 1.40
• GRM: 4.3

CMA / ARV

• ARV (median comp): $53,109
• List price: $90,000
• Delta: 69.46%
• Verdict: OVERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15115 Howe Plz #108	0.05mi	3/2.0	1,216 (-3%)	1mo	$52,000	$43	92
3951 South 151 Plz #86	0.05mi	3/2.0	1,216 (-3%)	8mo	$35,000	$29	87
15107 Atlas Plz #15	0.07mi	3/2.0	1,248 (0%)	13mo	$60,000	$48	86
15058 Howe Plz	0.09mi	3/2.0	1,216 (-3%)	7mo	$58,500	$48	86
15162 D Plz #38	0.10mi	3/2.0	1,404 (+12%)	1mo	$65,000	$46	73
15016 Atlas Plz #228	0.09mi	3/2.0	1,088 (-13%)	12mo	$60,000	$55	64
15012 Atlas Plz #229	0.11mi	2/2.0 (-1)	1,152 (-8%)	22mo	$67,000	$58	59

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.2%
• Equity multiple: 1.93×
• Total profit: $23,381
• Equity at exit: $40,468

10-year hold

• IRR: 18.0%
• Equity multiple: 3.65×
• Total profit: $66,698
• Equity at exit: $62,366

Cash invested: $25,200 (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 68144-9999

• Active inventory: 2
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,735 high
• Mortgage (P&I): −$472
• Tax from tax record: −$103 /mo · $1,239/yr
• Insurance: −$38
• HOA: −$567
• Vacancy / Maint / Mgmt: −$364
• Net cashflow: $191

Break-even live

Break-even rent $1,493

Max offer price $90,000

Occupancy floor 84%

Sensitivity live

Price	-10% $242	-5% $217	+0% $191	+5% $166	+10% $140
Rent	-10% $54	-5% $123	+0% $191	+5% $260	+10% $328
Rate	-1.0pp $236	-0.5pp $214	base $191	+0.5pp $168	+1.0pp $144

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3820 S 148th Ave Omaha, NE	1.0–3.0	1.0–2.0	1029	$2,195	$2.13	4d	20	1.02mi
15950 Wright Plz Omaha, NE	1.0–3.0	1.0–2.0	1032	$1,725	$1.67	3d	13	1.02mi
4865 Marshall Dr Unit 109 Omaha, NE	2.0	1.0	821	$995	$1.21	11d	1	1.13mi
5380 S 156th Ct Omaha, NE	1.0–3.0	1.0–2.0	1088	$1,815	$1.67	4d	10	1.32mi
13615 Spring St Omaha, NE	4.0	2.0	1500	$2,050	$1.37	20d	1	1.37mi
2222 S 142nd Ct Omaha, NE	2.0	1.0–2.0	772	$1,320	$1.71	4d	20	1.44mi

HOA detail

• Monthly dues: $567 · $6,804/yr

Listing history 12 events

1. 2026-06-13
   status $90,000 Pending 34 DOM
2. 2026-06-10
   days on market $90,000 Active 34 DOM
3. 2026-06-09
   days on market $90,000 Active 33 DOM
4. 2026-06-08
   days on market $90,000 Active 32 DOM
5. 2026-06-07
   days on market $90,000 Active 31 DOM
6. 2026-06-05
   days on market $90,000 Active 28 DOM
7. 2026-06-03
   days on market $90,000 Active 27 DOM
8. 2026-06-03
   days on market $90,000 Active 26 DOM
9. 2026-06-01
   days on market $90,000 Active 25 DOM
10. 2026-05-31
    days on market $90,000 Active 24 DOM
11. 2026-05-14
    price $90,000 791-char remark
12. 2026-05-07
    listed $95,000 New 791-char remark

ⓘ 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: $1,239 · $103/mo
• Projected year-2 tax: $1,557 · $130/mo
• Expected delta: +$318/yr (+$26/mo · 25.6%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,823
• − Mortgage interest: −$5,041
• − Property taxes: −$1,239
• − Insurance: −$450
• − Repairs & maintenance: −$1,666
• − Management: −$1,666
• − HOA: −$6,804
• − Depreciation: −$2,618
• Taxable income: $1,338
• Est. tax owed @ 24.0%: −$321
• After-tax cash flow: $1,972/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: Millard Public Schools
• NCES district ID: 3173740
• Math proficiency: 58% ▼ -7.00%
• Reading proficiency: 60% ▼ -6.00%
• Median HH income: $81,146
• Composite: 53.23/100
• National rank: #1500
• State rank: #13 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

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%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• 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

-5.3% since first listed

3 events — show timeline

• 2026-06-10 Pending — GPRMLS
• 2026-05-14 Price Changed $90,000 GPRMLS
• 2026-05-07 Listed $95,000 GPRMLS

Property tax history

+6.8%/yr

Latest (2025): $1,239 · -1.0% YoY. Source: county tax records.