3521 Jones St · Omaha, NE 68105

$300,000

5 bd · 2.0 ba · 2,089 sqft · Other public records · 43 Days on market

Built 1904 0.25 ac lot $144/sqft · 5% above area Est $396k · 24% under

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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).

• ARV discount +15.0/15.0
• Cash flow +9.5/30.0
• Livability +4.2/5.0
• Rent growth +3.4/5.0
• 1% rule +2.7/10.0
• DSCR +2.7/10.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Rare opportunity in the heart of Midtown just steps from Blackstone, UNMC, and the redeveloping Leavenworth corridor. This spacious property offers exceptional flexibility for investors, house hackers, or STR operators. The main level features an updated kitchen along with major system improvements including updated electrical and plumbing. Above features five bedrooms and two bathrooms, creating strong rental potential and flexible living arrangements. The walkout basement includes a separate entrance, kitchen, and ¾ bath. Outside, the property includes a hard-to-find 3-car garage and sits in a highly desirable urban location with easy access to Midtown’s best dining, medical campuses, and entertainment. Zoned R7 High Density Apartment, this property also offers long-term development upside, allowing investors to hold for income today while preserving future redevelopment potential. A unique opportunity to own a versatile property in one of Omaha’s most rapidly evolving neighborhoods.

Key facts

• 0.25 acre lot
• 3 garage spots
• Built 1904

Property features AI

Exterior

• Parking: Detached garage with 3 covered parking spaces (3 total)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; 2.5-story design; Not new (built in 1904); Below-grade finished area of about 600 square feet; Above-grade finished area of about 2,304 square feet
• Construction: Built in 1904; Block foundation
• Exterior features: Porch; Patio; Chain link full fence; Lot over 1/4 up to 1/2 acre (approximately 0.25 acre); Lot dimensions about 50 x 124

Interior

• Kitchen: Range; Refrigerator; Microwave
• Bedrooms: Master bedroom on 2nd floor; Bedrooms 2–4 on 2nd floor; Bedroom 5 on 3rd floor
• Bathrooms: 3 total bathrooms (2 full, 1 three-quarter); 1 bathroom on main level; 1 bathroom in the below-grade area
• Heating & cooling: Natural gas forced air heating; Central air conditioning
• Interior features: Partially finished basement; No fireplaces
• Laundry & utility: Washer included

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath other listed at $300k.

Deal economics

• At list price, monthly cash flow is $-209 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $263k (12.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $230k (23.5% below list).
• Recommended offer: $230k (23.5% below list) — sets the bar for 1% rule.
• Cap rate 5.5% 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: Jackson Elementary School (math 12% / reading 22%, grade F, #471 of 502 statewide, top 95%, 260 students, 0% FRL); Norris Middle School (math 11% / reading 16%, grade F, #126 of 128 statewide, top 98%, 1,187 students, 0% FRL); Central High School (math 29% / reading 40%, grade F, #208 of 261 statewide, top 86%, 2,738 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 (+3.7%/yr); 124 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 4,539 units permitted in Douglas County in 2024 (2,583 in 5+ unit buildings).
• At $2,295/mo this rent would consume 48% of the median local household income ($58k/yr) (locally 1096% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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

• It's been on market 43 days — a 3% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 20y 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 $260k; 15% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1904 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $229,509 (23.5% 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. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. Built in 1904 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 0.77% ✗
• Cap rate: 5.45%
• Cash-on-cash: -2.99%
• DSCR: 0.87
• GRM: 10.9

CMA / ARV

• ARV (median comp): $395,942
• List price: $300,000
• Delta: -24.23%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.66% rent growth · sell at horizon

5-year hold

• IRR: -20.6%
• Equity multiple: 0.28×
• Total profit: $-60,418
• Equity at exit: $44,731

10-year hold

• IRR: -12.4%
• Equity multiple: 0.25×
• Total profit: $-63,398
• Equity at exit: $25,939

Cash invested: $84,000 (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 68105

• Rents YoY: 3.7%
• Active inventory: 124
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $2,295 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$324 /mo · $3,893/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$482
• Net cashflow: $-209

Break-even live

Break-even rent $2,560

Max offer price $262,992

Occupancy floor —

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3919 Farnam St Unit 3915 Farnam Omaha, NE	4.0	2.0	1700	$2,350	$1.38	44d	1	0.52mi
132 N 35th Ave Omaha, NE	5.0	2.0	1959	$2,550	$1.30	44d	1	0.55mi
4228 Mayberry St Omaha, NE	4.0	1.0	1664	$1,700	$1.02	14d	1	0.64mi
303 N 38th St Omaha, NE	4.0	1.5	1472	$1,995	$1.36	23d	1	0.64mi
528 S 26th Ave Ste B Omaha, NE	4.0	1.0	1748	$1,650	$0.94	3d	1	0.72mi
4182 Wakeley St Omaha, NE	4.0	3.5	2472	$2,775	$1.12	12d	1	0.89mi
2929 California St Omaha, NE	1.0–4.0	1.0–3.0	1280	$3,340	$2.61	3d	118	0.97mi
3403 Arbor St Omaha, NE	5.0	2.0	1556	$2,500	$1.61	3d	1	1.20mi
814 S 50th Ave Omaha, NE	4.0	2.0	2239	$3,000	$1.34	44d	1	1.39mi

Listing history 36 events

1. 2026-06-18
   days on market $300,000 Active 43 DOM
2. 2026-06-17
   days on market $300,000 Active 42 DOM
3. 2026-06-16
   days on market $300,000 Active 41 DOM
4. 2026-06-15
   days on market $300,000 Active 40 DOM
5. 2026-06-13
   days on market $300,000 Active 38 DOM
6. 2026-06-10
   days on market $300,000 Active 35 DOM
7. 2026-06-09
   days on market $300,000 Active 34 DOM
8. 2026-06-08
   days on market $300,000 Active 33 DOM
9. 2026-06-07
   days on market $300,000 Active 32 DOM
10. 2026-06-03
    days on market $300,000 Active 28 DOM
11. 2026-06-03
    days on market $300,000 Active 27 DOM
12. 2026-06-01
    days on market $300,000 Active 26 DOM
13. 2026-06-01
    days on market $300,000 Active 25 DOM
14. 2026-05-06
    listed $300,000 New 1019-char remark

    Show marketing remark (1019 chars)

    Rare opportunity in the heart of Midtown just steps from Blackstone, UNMC, and the redeveloping Leavenworth corridor. This spacious property offers exceptional flexibility for investors, house hackers, or STR operators. The main level features an updated kitchen along with major system improvements including updated electrical and plumbing. Above features five bedrooms and two bathrooms, creating strong rental potential and flexible living arrangements. The walkout basement includes a separate entrance, kitchen, and ¾ bath. Outside, the property includes a hard-to-find 3-car garage and sits in a highly desirable urban location with easy access to Midtown’s best dining, medical campuses, and entertainment. Zoned R7 High Density Apartment, this property also offers long-term development upside, allowing investors to hold for income today while preserving future redevelopment potential. A unique opportunity to own a versatile property in one of Omaha’s most rapidly evolving neighborhoods.

15. 2026-05-06
    listed $300,000 New 1019-char remark

    Show marketing remark (1019 chars)

    Rare opportunity in the heart of Midtown just steps from Blackstone, UNMC, and the redeveloping Leavenworth corridor. This spacious property offers exceptional flexibility for investors, house hackers, or STR operators. The main level features an updated kitchen along with major system improvements including updated electrical and plumbing. Above features five bedrooms and two bathrooms, creating strong rental potential and flexible living arrangements. The walkout basement includes a separate entrance, kitchen, and ¾ bath. Outside, the property includes a hard-to-find 3-car garage and sits in a highly desirable urban location with easy access to Midtown’s best dining, medical campuses, and entertainment. Zoned R7 High Density Apartment, this property also offers long-term development upside, allowing investors to hold for income today while preserving future redevelopment potential. A unique opportunity to own a versatile property in one of Omaha’s most rapidly evolving neighborhoods.

16. 2026-05-06
    historical

    Show marketing remark (1019 chars)

    Rare opportunity in the heart of Midtown just steps from Blackstone, UNMC, and the redeveloping Leavenworth corridor. This spacious property offers exceptional flexibility for investors, house hackers, or STR operators. The main level features an updated kitchen along with major system improvements including updated electrical and plumbing. Above features five bedrooms and two bathrooms, creating strong rental potential and flexible living arrangements. The walkout basement includes a separate entrance, kitchen, and ¾ bath. Outside, the property includes a hard-to-find 3-car garage and sits in a highly desirable urban location with easy access to Midtown’s best dining, medical campuses, and entertainment. Zoned R7 High Density Apartment, this property also offers long-term development upside, allowing investors to hold for income today while preserving future redevelopment potential. A unique opportunity to own a versatile property in one of Omaha’s most rapidly evolving neighborhoods.

17. 2026-05-06
    historical

    Show marketing remark (1019 chars)

    Rare opportunity in the heart of Midtown just steps from Blackstone, UNMC, and the redeveloping Leavenworth corridor. This spacious property offers exceptional flexibility for investors, house hackers, or STR operators. The main level features an updated kitchen along with major system improvements including updated electrical and plumbing. Above features five bedrooms and two bathrooms, creating strong rental potential and flexible living arrangements. The walkout basement includes a separate entrance, kitchen, and ¾ bath. Outside, the property includes a hard-to-find 3-car garage and sits in a highly desirable urban location with easy access to Midtown’s best dining, medical campuses, and entertainment. Zoned R7 High Density Apartment, this property also offers long-term development upside, allowing investors to hold for income today while preserving future redevelopment potential. A unique opportunity to own a versatile property in one of Omaha’s most rapidly evolving neighborhoods.

18. 2026-03-31
    listed $325,000 New
19. 2026-03-31
    listed $325,000 New
20. 2026-03-31
    historical
21. 2026-03-31
    historical
22. 2026-03-04
    listed $350,000 New
23. 2026-03-03
    listed $350,000 New
24. 2022-05-25
    soldstatus $260,000
25. 2022-05-13
    soldstatus $259,500 Sold
26. 2022-03-25
    status Pending
27. 2022-03-17
    listed $259,500 Active - New
28. 2017-10-25
    soldstatus $150,000
29. 2017-10-24
    soldstatus $149,700 Sold
30. 2017-09-27
    status Pending
31. 2017-09-15
    listed $149,700 Active - New
32. 2006-03-21
    soldstatus $131,900
33. 2006-02-20
    historical
34. 2006-01-26
    listed $132,900
35. 2005-11-22
    soldstatus $89,000
36. 1993-10-22
    soldstatus $54,000

ⓘ 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: $3,893 · $324/mo
• Projected year-2 tax: $5,190 · $432/mo
• Expected delta: +$1,297/yr (+$108/mo · 33.3%)

ⓘ 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 ≥103°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: $27,541
• − Mortgage interest: −$16,805
• − Property taxes: −$3,893
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,203
• − Management: −$2,203
• − Depreciation: −$8,727
• Taxable loss: −$7,790
• Est. tax savings @ 24.0%: +$1,870
• After-tax cash flow: $-644/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): 22,807
• Household income: $57,533
• Rent vs Own: 56.5% rent · 43.5% own
• Severe rent burden: 1096.0

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 0.55)
• Race & ethnicity: White 60% Hispanic / Latino 29% Two or more races 11% Black 5% Native American 2% Asian 2%
• Hispanic origin (detail): Mexican 23%
• Common ancestry: Romanian 5% Lithuanian 3% Portuguese 2%
• Foreign-born: 13% · Canada, China
• Languages at home: 73% English-only · Spanish 22% Arabic 1% Other Indo-European 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: ▼ -234.93%
• Current HPI: 314.1884
• Rent YoY: ▲ 3.66%
• 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

+455.6% since first listed

23 events — show timeline

• 2026-05-06 Listing Removed — GPRMLS
• 2026-05-06 Listing Removed — GPRMLS
• 2026-05-06 Listed $300,000 GPRMLS
• 2026-05-06 Listed $300,000 GPRMLS
• 2026-03-31 Listing Removed — GPRMLS
• 2026-03-31 Listing Removed — GPRMLS
• 2026-03-31 Listed $325,000 GPRMLS
• 2026-03-31 Listed $325,000 GPRMLS
• 2026-03-04 Listed $350,000 GPRMLS
• 2026-03-03 Listed $350,000 GPRMLS
• 2022-05-25 Sold (Public Records) $260,000 Public Records
• 2022-05-13 Sold (MLS) $259,500 GPRMLS
• 2022-03-25 Pending — GPRMLS
• 2022-03-17 Listed $259,500 GPRMLS
• 2017-10-25 Sold (Public Records) $150,000 Public Records
• 2017-10-24 Sold (MLS) $149,700 GPRMLS
• 2017-09-27 Pending — GPRMLS
• 2017-09-15 Listed $149,700 GPRMLS
• 2006-03-21 Sold (MLS) $131,900 GPRMLS
• 2006-02-20 Listing Removed — GPRMLS
• 2006-01-26 Listed $132,900 GPRMLS
• 2005-11-22 Sold (Public Records) $89,000 Public Records
• 1993-10-22 Sold (Public Records) $54,000 Public Records

Property tax history

+4.9%/yr

Latest (2025): $3,893 · -3.0% YoY. Source: county tax records.