2247 N 31st St Unit B · Lincoln, NE 68503

$195,000

3 bd · 2.0 ba · 1,664 sqft · Condo · 7 Days on market

Built 2025 Excellent condition

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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 +12.2/30.0
• ARV discount +7.5/15.0
• Condition / age +4.8/5.0
• Schools +4.4/10.0
• Livability +4.2/5.0
• DSCR +3.6/10.0
• 1% rule +3.5/10.0
• Rent growth +3.1/5.0
• Appreciation +0.0/10.0

Listing remarks

This new construction half duplex in north Lincoln is offered by NeighborWorks Lincoln and conveniently located near university campuses with easy access to everyday amenities. Designed for comfortable, low-maintenance living, this home features 3 beds, 2 baths, and modern finishes throughout. The unfinished basement provides room to grow with potential to add a conforming bedroom, bathroom, and additional living space. Available to qualified first-time homebuyers earning at or below 80% of Area Median Income ($60,200 for a single individual). Part of the Prairie Roots Community Land Trust, buyers purchase the home and lease the land to maintain long term affordability. Owner occupancy is r

Key facts

• Unfinished basement
• 0.23 acre lot
• Garage

Tags

• NEW CONSTRUCTION HALF DUPLEX
• NEAR UNIVERSITY CAMPUSES
• EASY ACCESS TO AMENITIES
• UNFINISHED BASEMENT
• POTENTIAL TO ADD LIVING SPACE

Property features AI

Finance

• Other: Builder: NeighborWorks Lincoln; Lot: city lot up to 1/4 acre (approx. 0.23 acre, dimensions 133 x 75)

Exterior

• Parking: Detached covered garage (1 space); Total parking for 1 vehicle
• Utilities: Electricity available; Public water; Public sewer; Fiber optic available
• Home design: Duplex residential property; Two levels; New construction (built in 2025); Attached property
• Construction: Vinyl siding; Composition roof; Concrete perimeter foundation
• Exterior features: Porch; Patio; Drain tile

Interior

• Kitchen: Range; Refrigerator; Dishwasher; Garbage disposal; Microwave
• Bedrooms: Primary bedroom on the main floor; Additional bedrooms on the second floor
• Flooring: Carpet; Luxury vinyl plank
• Bathrooms: Two full bathrooms; One bathroom on the main level; Bathroom(s) on the second floor
• Heating & cooling: Electric heating with heat pump; Central air conditioning
• Interior features: High ceilings; Egress basement

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $195k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-39 ($-470/yr) — negative.
• To cash-flow at today's rent, offer at most $189k (2.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $166k (15.1% below list).
• Recommended offer: $166k (15.1% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 3.0% in Lincoln — 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 85/100 on livability (#5 in NE, #545 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: crime D+.
• Lincoln Public Schools (urban): math 50% / reading 53% proficiency, ranked #59 of 111 in NE (top 53%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Clinton Elementary School (math 32% / reading 32%, grade F, #405 of 502 statewide, top 84%, 407 students, 0% FRL); Culler Middle School (math 30% / reading 33%, grade F, #109 of 128 statewide, top 85%, 703 students, 74% FRL); Lincoln Northeast High School (math 34% / reading 36%, grade F, #207 of 261 statewide, top 79%, 1,812 students, 62% FRL).
• Zoned-school proficiency averages 33% at this address vs 52% district-wide (-19 pts) — the specific schools serving this property underperform the Lincoln Public Schools average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+2.4%/yr); 59 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 61% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,940 units permitted in Lancaster County in 2024 (895 in 5+ unit buildings).
• This rent runs 37% of the median local income ($54k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Lancaster County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $165,624 (15.1% 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. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is D 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. 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.85% ✗
• Cap rate: 6.05%
• Cash-on-cash: -0.86%
• DSCR: 0.96
• GRM: 9.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.39% rent growth · sell at horizon

5-year hold

• IRR: -18.4%
• Equity multiple: 0.36×
• Total profit: $-35,079
• Equity at exit: $29,075

10-year hold

• IRR: -11.9%
• Equity multiple: 0.31×
• Total profit: $-37,752
• Equity at exit: $16,860

Cash invested: $54,600 (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 68503

• Rents YoY: 2.4%
• Active inventory: 59
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,656 high
• Mortgage (P&I): −$1,023
• Tax est. 1.5%: −$244 /mo · $2,925/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $-39

Break-even live

Break-even rent $1,706

Max offer price $189,332

Occupancy floor 97%

Sensitivity live

Price	-10% $96	-5% $28	+0% $-39	+5% $-107	+10% $-174
Rent	-10% $-170	-5% $-105	+0% $-39	+5% $26	+10% $92
Rate	-1.0pp $59	-0.5pp $10	base $-39	+0.5pp $-90	+1.0pp $-141

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1815 N 24th St Apt 1 Lincoln, NE	3.0	2.0	1200	$1,650	$1.38	23d	1	0.55mi
2710 Starr St Lincoln, NE	3.0	2.0	1170	$1,750	$1.50	45d	1	0.60mi
3811 Baldwin Ave Lincoln, NE	1.0–3.0	1.0–2.0	1015	$1,489	$1.47	15d	14	0.60mi
2245 Holdrege St Lincoln, NE	4.0	1.0	1422	$1,900	$1.34	45d	1	0.78mi
1015 N 30th St Unit 1017 Lincoln, NE	3.0	2.0	1080	$1,400	$1.30	45d	1	0.82mi
2239 Dudley St Lincoln, NE	2.0	1.0	1241	$1,100	$0.89	45d	1	0.87mi
2253 Orchard St Unit 1 Lincoln, NE	4.0	3.0	2000	$2,400	$1.20	45d	1	0.90mi
4602 Saint Paul Ave Unit 3 Lincoln, NE	4.0	1.0	1344	$1,550	$1.15	15d	1	1.14mi
4529 Holdrege St Lincoln, NE	3.0	2.0	1100	$1,250	$1.14	45d	1	1.18mi
4630 Starr St Unit 4630 Lincoln, NE	3.0	1.0	1460	$1,250	$0.86	45d	1	1.25mi
3548 R St Unit A Lincoln, NE	4.0	3.5	1328	$2,550	$1.92	45d	1	1.28mi
2904 Q St Unit 2906 Lincoln, NE	3.0	1.5	1060	$1,458	$1.38	15d	1	1.32mi
4800 Holdrege St Lincoln, NE	2.0	1.0–2.0	806	$1,625	$2.01	15d	88	1.32mi
2608 Q St Unit 2 Lincoln, NE	4.0	2.0	1575	$1,550	$0.98	45d	1	1.35mi
4904 Holdrege St Lincoln, NE	2.0	1.0	1282	$1,299	$1.01	45d	1	1.38mi
4842 Adams St Unit 2 Lincoln, NE	4.0	2.5	1764	$2,095	$1.19	45d	1	1.39mi
2960 P St Lincoln, NE	2.0	1.0	1152	$920	$0.80	15d	1	1.39mi
4910 Dudley St Unit 2 Lincoln, NE	3.0	2.0	1073	$1,250	$1.16	23d	1	1.42mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-05-15
   status Pending
2. 2026-05-08
   listed $195,000 New

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 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: $19,875
• − Mortgage interest: −$10,923
• − Property taxes: −$2,925
• − Insurance: −$975
• − Repairs & maintenance: −$1,590
• − Management: −$1,590
• − Depreciation: −$5,673
• Taxable loss: −$3,801
• Est. tax savings @ 24.0%: +$912
• After-tax cash flow: $442/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.

Condition & rehab AI · 3 photos

Excellent 95/100 None rehab

This new construction half duplex is move-in ready with excellent curb appeal and fresh finishes. Minor updates to paint and add smart home features can further enhance its value.

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Install modern light fixtures — Modern lighting improves aesthetics and energy efficiency
• Both Add smart home features — Smart home features increase convenience and marketability
• Both Install smart thermostat — Saves energy and appeals to eco-conscious buyers

Renovation cost estimate screening

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Install modern light fixtures — Modern lighting improves aesthetics and energy efficiency ↑
• Both Add smart home features — Smart home features increase convenience and marketability ↑
• Both Install smart thermostat — Saves energy and appeals to eco-conscious buyers ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Lincoln Public Schools
• NCES district ID: 3172840
• Math proficiency: 50% ▼ -6.00%
• Reading proficiency: 53% ▼ -3.00%
• Median HH income: $50,273
• Composite: 44.05/100
• National rank: #2880
• State rank: #59 of 111 in NE

Livability — Lincoln

• Score: 85/100
• State rank: #5
• US rank: #545

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lincoln, NE
• County: Lancaster County · 291,509 people
• City population: 291,509
• Metro: Lincoln, NE
• Population (ZIP): 15,867
• Household income: $54,232
• Rent vs Own: 61.1% rent · 38.9% own
• Severe rent burden: 820.0

Population outlook (Lancaster County) Hauer SSP2

• Today (2025): 352,806 people
• By 2030: 377,899 · +7.1%
• By 2040: 428,582 · +21.5%
• By 2050: 483,103 · +36.9%
• By 2075: 632,390 · +79.2%
• By 2100: 759,513 · +115.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 59% Hispanic / Latino 12% Black 12% Two or more races 10% Asian 10%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Lithuanian 2% Romanian 2% Portuguese 2%
• Foreign-born: 19% · Canada, Vietnam, China
• Languages at home: 73% English-only · Spanish 7% Other Indo-European 5% Vietnamese 5%

Political lean MEDSL · Lancaster

• 2024 margin: Toss-up / Even · D 51.4% · R 47.1% · Other 1.5%
• 2008→2024 swing: -0.7pp no change · 2008: 5.0pp · 2024: 4.3pp
• All cycles: 2024: D+4.3 2020: D+7.8 2016: D+0.1 2012: R+1.0 2008: D+5.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -145.46%
• Current HPI: 260.3421
• Rent YoY: ▲ 2.39%
• Metro: Lincoln, NE
• 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

2 events — show timeline

• 2026-05-15 Pending — GPRMLS
• 2026-05-08 Listed $195,000 GPRMLS