3123 Fontenelle Blvd · Omaha, NE 68104

$148,900

3 bd · 2.0 ba · 1,460 sqft · Other public records · 2 Days on market

Built 1919 5,227 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

Well maintained 3 bedroom, 2 bath, 1.5 story on corner lot! Beautiful wood floors throughout, fresh paint, updated kitchen, breakfast nook, built-ins, fenced yard and much, much more! Attached garage with small garage door entrance into home perfect for storying your motorcycle, golf cart, ATV, etc. Schedule a showing today!

Key facts

• Hardwood flooring
• Generous yard
• Covered front entry

Tags

• DETACHED GARAGE
• COVERED FRONT ENTRY
• GENEROUS YARD
• HARDWOOD FLOORING
• WHITE CABINETRY
• CONTRASTING COUNTERTOPS

Property features AI

Exterior

• Parking: Attached covered garage (1 car)
• Utilities: Public water; Public sewer; Electricity available
• Home design: Single-family residence; One and one-half story; Not new (built in 1919)
• Construction: Block foundation; Composition roof; Originally built in 1919
• Exterior features: Front porch; Privacy fencing; Level lot; Lot approximately 46 x 116 (about 0.12 acre)

Interior

• Kitchen: Range; Dishwasher; Microwave
• Bedrooms: Primary bedroom on main floor (approx. 11 x 11); Second bedroom on main floor (approx. 11 x 11); Third bedroom on second floor (approx. 15 x 13)
• Flooring: Carpet
• Bathrooms: Two full bathrooms (both on main level)
• Heating & cooling: Natural gas forced air heating; Central air conditioning
• Interior features: Ceiling fans
• Laundry & utility: Unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $149k.

Deal economics

• At list price, monthly cash flow is $232 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $149k).
• 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: King Elementary School (math 8% / reading 12%, grade F, #494 of 502 statewide, top 99%, 326 students, 0% FRL); Monroe Middle School (math 8% / reading 15%, grade F, #127 of 128 statewide, top 99%, 769 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.
• Zoned-school proficiency averages 11% at this address vs 24% district-wide (-13 pts) — the specific schools serving this property underperform the Omaha Public Schools average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+2.4%/yr); 176 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 4,539 units permitted in Douglas County in 2024 (2,583 in 5+ unit buildings).
• This rent runs 33% of the median local income ($61k/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 $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

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 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 $124k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1919 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $148,900

Questions for the listing agent

1. Built in 1919 — 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: 1.10% ✓
• Cap rate: 8.16%
• Cash-on-cash: 6.68%
• 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: $-10,368
• Equity at exit: $22,201

10-year hold

• IRR: 2.0%
• Equity multiple: 1.14×
• Total profit: $5,874
• Equity at exit: $12,874

Cash invested: $41,692 (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: $1,641 high
• Mortgage (P&I): −$781
• Tax from tax record: −$222 /mo · $2,660/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $232

Break-even live

Break-even rent $1,348

Max offer price $148,900

Occupancy floor 81%

Sensitivity live

Price	-10% $316	-5% $274	+0% $232	+5% $190	+10% $148
Rent	-10% $102	-5% $167	+0% $232	+5% $297	+10% $362
Rate	-1.0pp $307	-0.5pp $270	base $232	+0.5pp $193	+1.0pp $154

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: $37,225
• Closing costs: $4,467
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3508 N 47th Ave Omaha, NE	3.0	1.0	1425	$1,600	$1.12	20d	1	0.21mi
3002 N 48th Ave Omaha, NE	4.0	2.0	1205	$1,550	$1.29	25d	1	0.24mi
3535 N 45th Ave Omaha, NE	3.0	1.0	1325	$1,800	$1.36	45d	1	0.27mi
4276 Binney St Omaha, NE	4.0	1.0	1358	$1,495	$1.10	45d	1	0.30mi
4874 Maple St Omaha, NE	3.0	1.0	1098	$1,545	$1.41	45d	1	0.31mi
2914 N 49th Ave Omaha, NE	3.0	1.0	1375	$1,615	$1.17	25d	1	0.37mi
3808 N 48th St Omaha, NE	3.0	2.0	1400	$2,000	$1.43	4d	1	0.42mi
3323 N 40th St Omaha, NE	2.0	1.0	1000	$1,575	$1.57	4d	1	0.59mi
5119 Pratt St Omaha, NE	3.0	1.0	1008	$1,900	$1.88	45d	1	0.62mi
4852 Boyd St Omaha, NE	2.0	2.0	912	$1,500	$1.64	45d	1	0.73mi
4918 Ames Ave Unit 17 Omaha, NE	2.0	1.5	1074	$850	$0.79	25d	1	0.89mi
3204 N 56th St Omaha, NE	3.0	2.0	1800	$1,700	$0.94	11d	1	0.89mi
4114 N 54th St Omaha, NE	3.0	2.0	1683	$1,745	$1.04	4d	1	0.96mi
3502 Lake St Omaha, NE	2.0	1.0	974	$995	$1.02	4d	1	1.02mi
4707 N 40th Ave Omaha, NE	3.0	1.0	1337	$1,500	$1.12	22d	1	1.08mi
2817 N 60th St Unit 2821/02 Omaha, NE	3.0	1.0	1188	$1,045	$0.88	25d	1	1.14mi
2817 N 60th St Unit 2817/02 Omaha, NE	3.0	1.0	1188	$1,500	$1.26	4d	1	1.14mi
1306 N 48th Ave Unit 1313258 Omaha, NE	2.0	1.0	994	$875	$0.88	4d	1	1.17mi
6010 Evans St Omaha, NE	3.0	2.0	1196	$1,850	$1.55	25d	1	1.19mi
4657 Camden Ave Omaha, NE	3.0	1.0	1250	$1,500	$1.20	45d	1	1.22mi
1112 N 50th Ave Omaha, NE	2.0	1.0	1200	$1,450	$1.21	15d	1	1.23mi
5633 Parker St Omaha, NE	3.0	1.5	1200	$1,695	$1.41	45d	1	1.24mi
3333 N 61st St Unit 3331 Omaha, NE	2.0	1.0	1077	$1,050	$0.97	13d	1	1.25mi
6116 Pinkney St Omaha, NE	3.0	1.5	1700	$1,800	$1.06	13d	1	1.31mi
5610 Seward St Omaha, NE	4.0	2.0	1682	$2,200	$1.31	45d	1	1.31mi
915 N 48th Ave Apt 15 Omaha, NE	2.0	1.0	950	$990	$1.04	45d	1	1.34mi
6152 Military Ave Omaha, NE	2.0	1.0–2.0	785	$1,599	$2.04	4d	6	1.35mi
3430 Seward St Omaha, NE	3.0	1.0	1371	$1,695	$1.24	15d	1	1.38mi
3314 Franklin St Omaha, NE	4.0	2.0	1635	$1,600	$0.98	45d	1	1.41mi
4201 Cuming St Omaha, NE	2.0	1.0	1272	$1,350	$1.06	4d	1	1.44mi
828 N 41st Ave Omaha, NE	2.0	1.0	1264	$1,700	$1.34	15d	1	1.48mi
1004 Glenwood Ave Unit 2 Omaha, NE	3.0	1.5	1000	$1,500	$1.50	4d	1	1.50mi

Listing history 36 events

1. 2026-06-13
   statusdays on market $148,900 Pending 2 DOM
2. 2026-06-10
   remarks 699-char remark
3. 2026-06-10
   statusdays on marketlisting id $148,900 New 1 DOM
4. 2026-06-09
   days on market $148,900 Active 96 DOM
5. 2026-06-08
   days on market $148,900 Active 95 DOM
6. 2026-06-07
   days on market $148,900 Active 94 DOM
7. 2026-06-03
   days on market $148,900 Active 90 DOM
8. 2026-06-03
   days on market $148,900 Active 89 DOM
9. 2026-06-01
   days on market $148,900 Active 88 DOM
10. 2026-06-01
    days on market $148,900 Active 87 DOM
11. 2026-05-11
    price $148,900 722-char remark
12. 2026-04-30
    price $154,900 722-char remark
13. 2026-04-21
    price $169,900 722-char remark
14. 2026-04-10
    price $179,900 722-char remark
15. 2026-03-20
    status Back On Market 722-char remark
16. 2026-03-14
    status Pending 722-char remark
17. 2026-02-27
    listed $184,900 New 722-char remark
18. 2021-07-16
    soldstatus $124,000
19. 2021-07-13
    soldstatus $124,000 Sold 326-char remark

    Show marketing remark (326 chars)

    Well maintained 3 bedroom, 2 bath, 1.5 story on corner lot! Beautiful wood floors throughout, fresh paint, updated kitchen, breakfast nook, built-ins, fenced yard and much, much more! Attached garage with small garage door entrance into home perfect for storying your motorcycle, golf cart, ATV, etc. Schedule a showing today!

20. 2021-06-30
    status Pending 326-char remark

    Show marketing remark (326 chars)

    Well maintained 3 bedroom, 2 bath, 1.5 story on corner lot! Beautiful wood floors throughout, fresh paint, updated kitchen, breakfast nook, built-ins, fenced yard and much, much more! Attached garage with small garage door entrance into home perfect for storying your motorcycle, golf cart, ATV, etc. Schedule a showing today!

21. 2021-06-24
    listed $135,000 Active - New 326-char remark

    Show marketing remark (326 chars)

    Well maintained 3 bedroom, 2 bath, 1.5 story on corner lot! Beautiful wood floors throughout, fresh paint, updated kitchen, breakfast nook, built-ins, fenced yard and much, much more! Attached garage with small garage door entrance into home perfect for storying your motorcycle, golf cart, ATV, etc. Schedule a showing today!

22. 2019-01-31
    soldstatus $55,000 Sold
23. 2019-01-31
    soldstatus $55,000
24. 2019-01-18
    status Pending
25. 2019-01-15
    price $70,000
26. 2019-01-07
    listed $80,000 Active - New
27. 2017-04-25
    soldstatus $55,000
28. 2017-04-21
    soldstatus $55,000 Sold
29. 2017-04-19
    status Pending
30. 2017-03-01
    listed $55,000 Active - New
31. 2017-03-01
    historical
32. 2016-12-20
    listed $62,500 Active - New
33. 2013-03-29
    historical
34. 2012-11-16
    listed $70,000
35. 2012-11-16
    historical
36. 2012-08-31
    listed $70,000

ⓘ 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: $2,660 · $222/mo
• Projected year-2 tax: $2,660 · $222/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: $19,696
• − Mortgage interest: −$8,341
• − Property taxes: −$2,660
• − Insurance: −$744
• − Repairs & maintenance: −$1,576
• − Management: −$1,576
• − Depreciation: −$4,332
• Taxable income: $467
• Est. tax owed @ 24.0%: −$112
• After-tax cash flow: $2,673/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

+112.7% since first listed

29 events — show timeline

• 2026-06-12 Pending — GPRMLS
• 2026-06-09 Listing Removed — GPRMLS
• 2026-06-09 Listed $148,900 GPRMLS
• 2026-05-11 Price Changed $148,900 GPRMLS
• 2026-04-30 Price Changed $154,900 GPRMLS
• 2026-04-21 Price Changed $169,900 GPRMLS
• 2026-04-10 Price Changed $179,900 GPRMLS
• 2026-03-20 Relisted — GPRMLS
• 2026-03-14 Pending — GPRMLS
• 2026-02-27 Listed $184,900 GPRMLS
• 2021-07-16 Sold (Public Records) $124,000 Public Records
• 2021-07-13 Sold (MLS) $124,000 GPRMLS
• 2021-06-30 Pending — GPRMLS
• 2021-06-24 Listed $135,000 GPRMLS
• 2019-01-31 Sold (Public Records) $55,000 Public Records
• 2019-01-31 Sold (MLS) $55,000 GPRMLS
• 2019-01-18 Pending — GPRMLS
• 2019-01-15 Price Changed $70,000 GPRMLS
• 2019-01-07 Listed $80,000 GPRMLS
• 2017-04-25 Sold (Public Records) $55,000 Public Records
• 2017-04-21 Sold (MLS) $55,000 GPRMLS
• 2017-04-19 Pending — GPRMLS
• 2017-03-01 Listed $55,000 GPRMLS
• 2017-03-01 Listing Removed — GPRMLS
• 2016-12-20 Listed $62,500 GPRMLS
• 2013-03-29 Listing Removed — GPRMLS
• 2012-11-16 Listing Removed — GPRMLS
• 2012-11-16 Listed $70,000 GPRMLS
• 2012-08-31 Listed $70,000 GPRMLS

Property tax history

+14.8%/yr

Latest (2025): $2,660 · +0.5% YoY. Source: county tax records.