218 W Irving St · Lincoln, NE 68521

$235,000

2 bd · 2.0 ba · 1,640 sqft · Townhouse public records · 11 Days on market

Built 2001 6,970 sqft lot Est $215k · 9% over

---

Why this score? — see what drove the F 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 +7.3/30.0
• Schools +4.4/10.0
• Livability +4.2/5.0
• Rent growth +3.5/5.0
• ARV discount +3.3/15.0
• Condition / age +2.5/5.0
• 1% rule +1.7/10.0
• DSCR +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Well-cared-for 4 bedroom, 2 bathroom split-level townhome located in Northwest Lincoln with unbeatable access to downtown, the airport, parks, the interstate, and the university. This home features a functional layout, a 2-stall garage, and brand new LVP flooring throughout, giving it a clean, modern feel from top to bottom. The backyard backs to commons and mature trees, offering a more private and peaceful setting than typically found this close to city conveniences. Whether you're looking for a low-maintenance home or a strong investment opportunity, this property checks all the boxes.

Key facts

• Split-level townhome
• Unbeatable access
• Functional layout

Tags

• SPLIT-LEVEL TOWNHOME
• UNBEATABLE ACCESS
• FUNCTIONAL LAYOUT
• BACKYARD BACKS TO COMMONS
• MATURE TREES
• PRIVATE AND PEACEFUL SETTING

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $235k.

Deal economics

• At list price, monthly cash flow is $-315 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $179k (23.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $158k (32.7% below list).
• Recommended offer: $158k (32.7% below list) — sets the bar for 1% rule.
• Cap rate 4.7% 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: Belmont Elementary School (math 34% / reading 44%, grade F, #371 of 502 statewide, top 74%, 814 students, 0% FRL); Goodrich Middle School (math 38% / reading 36%, grade F, #99 of 128 statewide, top 79%, 877 students, 78% FRL); Lincoln High School (math 38% / reading 41%, grade F, #184 of 261 statewide, top 76%, 2,196 students, 59% FRL).
• Zoned-school proficiency averages 38% at this address vs 52% district-wide (-13 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 fast (+4.0%/yr); 371 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 47% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts 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 $128k; list at $235k implies a 83% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $158,054 (32.7% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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?
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: 0.67% ✗
• Cap rate: 4.68%
• Cash-on-cash: -5.75%
• DSCR: 0.74
• GRM: 12.4

CMA / ARV

• ARV (on-the-fly): $214,840
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
216 W Irving St	0.01mi	3/2.0 (+1)	1,640 (0%)	4mo	$215,000	$131	91
272 Parkside Ln	0.35mi	3/2.0 (+1)	1,614 (-2%)	15mo	$210,000	$130	64
222 Parkside Ln	0.29mi	3/2.0 (+1)	1,420 (-13%)	2mo	$226,000	$159	57
3100 NW 7th St	0.66mi	2/2.0	1,497 (-9%)	7mo	$186,500	$125	49
3202 NW 7th St	0.59mi	3/2.0 (+1)	1,497 (-9%)	11mo	$190,000	$127	44
4040 N 8th St	0.63mi	3/2.0 (+1)	1,750 (+7%)	23mo	$240,000	$137	35

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 · 4.04% rent growth · sell at horizon

5-year hold

• IRR: -25.1%
• Equity multiple: 0.14×
• Total profit: $-56,511
• Equity at exit: $35,039

10-year hold

• IRR: -18.4%
• Equity multiple: -0.04×
• Total profit: $-68,125
• Equity at exit: $20,319

Cash invested: $65,800 (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 68521

• Home prices YoY: -34.1%
• Rents YoY: 4.0%
• Active inventory: 371
• Price-to-rent: 12.4×

Monthly cashflow live

• Estimated rent: $1,581 high
• Mortgage (P&I): −$1,232
• Tax from tax record: −$234 /mo · $2,805/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $-315

Break-even live

Break-even rent $1,980

Max offer price $179,282

Occupancy floor —

Sensitivity live

Price	-10% $-182	-5% $-249	+0% $-315	+5% $-382	+10% $-448
Rent	-10% $-440	-5% $-378	+0% $-315	+5% $-253	+10% $-191
Rate	-1.0pp $-197	-0.5pp $-256	base $-315	+0.5pp $-376	+1.0pp $-438

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4441 N 1st St Lincoln, NE	3.0	1.0–2.0	853	$1,490	$1.75	16d	39	0.17mi
North Pointe Villas Lincoln, NE	3.0	1.0–2.0	1022	$1,919	$1.88	16d	25	0.24mi
4730 Innovation Dr Lincoln, NE	2.0	1.0–2.5	873	$1,800	$2.06	16d	1	0.55mi
2900 N 1st St Lincoln, NE	2.0–3.0	1.0–2.0	1061	$945	$0.89	46d	3	0.65mi
2801 NW 1st St Lincoln, NE	3.0	2.0	1152	$1,349	$1.17	46d	3	0.79mi
1151 Elba Ave Lincoln, NE	3.0	1.5	1443	$1,695	$1.17	46d	1	0.87mi
2636 N 4th St Unit 2636 Lincoln, NE	3.0	2.0	1060	$1,595	$1.50	46d	1	0.93mi
2635 N 5th St Unit 2635 Lincoln, NE	3.0	2.0	1060	$1,595	$1.50	46d	1	0.94mi
5265 NW 12th St Lincoln, NE	2.0	1.0–2.0	932	$1,895	$2.03	16d	15	1.16mi
1632 Dodge St Lincoln, NE	3.0	3.0	1958	$2,000	$1.02	23d	1	1.26mi
1431 Hilltop Rd Lincoln, NE	2.0–3.0	2.0	1050	$1,225	$1.17	16d	1	1.28mi
4800 N 15th St Unit 4-LL07 Lincoln, NE	3.0	2.0	1150	$1,395	$1.21	23d	1	1.29mi
4800 N 15th St Unit 4-303 Lincoln, NE	3.0	2.0	1150	$1,395	$1.21	46d	1	1.29mi
1615 Old Glory Rd Lincoln, NE	3.0	2.5	1564	$1,800	$1.15	46d	1	1.35mi
6157 NW 2nd Cir Lincoln, NE	3.0	1.0–2.0	905	$1,444	$1.60	16d	30	1.40mi

Listing history 10 events

1. 2026-04-07
   status Pending
2. 2026-03-27
   listed $235,000 New
3. 2026-02-08
   status Pending
4. 2026-02-08
   historical
5. 2025-12-24
   listed $220,000 New
6. 2025-12-24
   historical
7. 2025-08-01
   listed $250,000 New
8. 2005-09-07
   soldstatus $128,355
9. 2004-06-16
   soldstatus $120,000
10. 2003-07-16
    soldstatus $116,000

ⓘ 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: $2,805 · $234/mo
• Projected year-2 tax: $4,066 · $339/mo
• Expected delta: +$1,260/yr (+$105/mo · 44.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 72% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥105°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: $18,966
• − Mortgage interest: −$13,164
• − Property taxes: −$2,805
• − Insurance: −$1,175
• − Repairs & maintenance: −$1,517
• − Management: −$1,517
• − Depreciation: −$6,836
• Taxable loss: −$8,048
• Est. tax savings @ 24.0%: +$1,932
• After-tax cash flow: $-1,853/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: 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): 37,050
• Household income: $67,483
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 1500.0

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: Predominantly White (70%)
• Race & ethnicity: White 70% Hispanic / Latino 12% Asian 8% Two or more races 7% Black 5%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 2% Arab 2% Italian 2%
• Foreign-born: 15% · Vietnam, Canada, United Kingdom
• Languages at home: 78% English-only · Spanish 9% Vietnamese 6% Arabic 3%

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: ▼ -124.30%
• Current HPI: 239.8394
• Rent YoY: ▲ 4.04%
• 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

+102.6% since first listed

10 events — show timeline

• 2026-04-07 Pending — GPRMLS
• 2026-03-27 Listed $235,000 GPRMLS
• 2026-02-08 Pending — GPRMLS
• 2026-02-08 Listing Removed — GPRMLS
• 2025-12-24 Listing Removed — GPRMLS
• 2025-12-24 Listed $220,000 GPRMLS
• 2025-08-01 Listed $250,000 GPRMLS
• 2005-09-07 Sold (Public Records) $128,355 Public Records
• 2004-06-16 Sold (Public Records) $120,000 Public Records
• 2003-07-16 Sold (Public Records) $116,000 Public Records

Property tax history

+1.8%/yr

Latest (2025): $2,805 · +7.8% YoY. Source: county tax records.