2401 N Chester St · Lincoln, NE 68521

$150,000

2 bd · 1.0 ba · 976 sqft · SingleFamily public records · 73 Days on market

Built 1900 6,970 sqft lot $154/sqft · 27% below area Est $207k · 27% 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 +12.3/30.0
• Schools +4.4/10.0
• Livability +4.2/5.0
• DSCR +3.7/10.0
• Rent growth +3.5/5.0
• 1% rule +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 2401 N. Chester St. This cute 3 bed 1 bath bungalow has many new updates. New water heater, electrical, furnace, windows and siding. Sits on a large corner lot that would provide enough space to build a garage. Easy access to Cornhusker Hwy and the interstate. This property is being sold as is.

Key facts

• New furnace
• New siding
• Large corner lot

Tags

• NEW WATER HEATER
• NEW ELECTRICAL
• NEW FURNACE
• NEW WINDOWS
• NEW SIDING
• LARGE CORNER LOT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $-27 ($-328/yr) — negative.
• To cash-flow at today's rent, offer at most $145k (3.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $123k (18.2% below list).
• Recommended offer: $123k (18.2% 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.
• Market conditions: Rents rising fast (+4.0%/yr); 366 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 $1k of loan paydown is wiped out by about $4k 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

• It's been on market 73 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y 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 $38k; list at $150k implies a 295% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $122,656 (18.2% 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 73 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.82% ✗
• Cap rate: 6.07%
• Cash-on-cash: -0.78%
• DSCR: 0.97
• GRM: 10.2

CMA / ARV

• ARV (median comp): $206,570
• List price: $150,000
• Delta: -27.39%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2608 N Chester St	0.16mi	3/1.0 (+1)	1,090 (+12%)	14mo	$162,000	$149	56
124 W Dawes Ave	0.41mi	3/1.0 (+1)	1,040 (+7%)	22mo	$185,000	$178	47
510 Laramie Trl	0.52mi	2/1.0	832 (-15%)	12mo	$212,000	$255	40

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: -16.5%
• Equity multiple: 0.41×
• Total profit: $-24,759
• Equity at exit: $22,365

10-year hold

• IRR: -6.6%
• Equity multiple: 0.56×
• Total profit: $-18,394
• Equity at exit: $12,969

Cash invested: $42,000 (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 68521

• Home prices YoY: -34.1%
• Rents YoY: 4.0%
• Active inventory: 366
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,227 high
• Mortgage (P&I): −$787
• Tax from tax record: −$147 /mo · $1,767/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $-27

Break-even live

Break-even rent $1,261

Max offer price $145,166

Occupancy floor 97%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
535 W Saunders Ave Unit 3 Lincoln, NE	2.0	1.0	889	$945	$1.06	43d	1	0.10mi
2700 N 1st St #2 Lincoln, NE	2.0	1.0	897	$1,095	$1.22	21d	1	0.52mi
2900 N 1st St Lincoln, NE	2.0–3.0	1.0–2.0	1061	$945	$0.89	43d	3	0.63mi
2636 N 4th St Unit 2636 Lincoln, NE	3.0	2.0	1060	$1,595	$1.50	43d	1	0.77mi
2635 N 5th St Unit 2635 Lincoln, NE	3.0	2.0	1060	$1,595	$1.50	43d	1	0.80mi
2521 N 9th St Lincoln, NE	1.0–2.0	1.0–2.0	700	$999	$1.43	13d	4	1.02mi
830 Judson St Lincoln, NE	3.0	1.0	816	$1,700	$2.08	43d	1	1.22mi
4441 N 1st St Lincoln, NE	3.0	1.0–2.0	853	$1,490	$1.75	13d	39	1.25mi
North Pointe Villas Lincoln, NE	3.0	1.0–2.0	1022	$1,919	$1.88	13d	25	1.33mi
1205 Adams St Lincoln, NE	2.0	1.0	875	$1,350	$1.54	43d	1	1.39mi
3201 N 12th St Lincoln, NE	3.0	1.0	928	$1,250	$1.35	13d	1	1.41mi
1040 Charleston St Lincoln, NE	1.0	1.0	596	$750	$1.26	43d	1	1.44mi
4231 N 7th St Lincoln, NE	1.0	1.0	772	$1,049	$1.36	13d	7	1.45mi
510 Surfside Dr Lincoln, NE	3.0	1.0–2.0	1051	$1,615	$1.54	13d	24	1.49mi

Listing history 22 events

1. 2026-06-18
   days on market $150,000 Active 73 DOM
2. 2026-06-17
   days on market $150,000 Active 72 DOM
3. 2026-06-16
   days on market $150,000 Active 71 DOM
4. 2026-06-15
   days on market $150,000 Active 70 DOM
5. 2026-06-14
   days on market $150,000 Active 68 DOM
6. 2026-06-10
   days on market $150,000 Active 65 DOM
7. 2026-06-09
   days on market $150,000 Active 64 DOM
8. 2026-06-08
   days on market $150,000 Active 63 DOM
9. 2026-06-07
   days on market $150,000 Active 62 DOM
10. 2026-06-05
    days on market $150,000 Active 59 DOM
11. 2026-06-03
    days on market $150,000 Active 58 DOM
12. 2026-06-02
    days on market $150,000 Active 57 DOM
13. 2026-06-01
    days on market $150,000 Active 56 DOM
14. 2026-05-31
    days on market $150,000 Active 55 DOM
15. 2026-05-30
    days on market $150,000 Active 54 DOM
16. 2026-04-06
    listed $150,000 New 309-char remark

    Show marketing remark (309 chars)

    Welcome to 2401 N. Chester St. This cute 3 bed 1 bath bungalow has many new updates. New water heater, electrical, furnace, windows and siding. Sits on a large corner lot that would provide enough space to build a garage. Easy access to Cornhusker Hwy and the interstate. This property is being sold as is.

17. 2026-04-06
    historical

    Show marketing remark (309 chars)

    Welcome to 2401 N. Chester St. This cute 3 bed 1 bath bungalow has many new updates. New water heater, electrical, furnace, windows and siding. Sits on a large corner lot that would provide enough space to build a garage. Easy access to Cornhusker Hwy and the interstate. This property is being sold as is.

18. 2026-03-23
    listed $160,000 New
19. 2016-04-27
    soldstatus $38,000
20. 2016-04-27
    soldstatus $38,000
21. 2016-02-27
    historical
22. 2015-12-22
    listed $55,000

ⓘ 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: $1,767 · $147/mo
• Projected year-2 tax: $2,595 · $216/mo
• Expected delta: +$828/yr (+$69/mo · 46.9%)

ⓘ 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 ≥106°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: $14,719
• − Mortgage interest: −$8,402
• − Property taxes: −$1,767
• − Insurance: −$750
• − Repairs & maintenance: −$1,177
• − Management: −$1,177
• − Depreciation: −$4,364
• Taxable loss: −$2,919
• Est. tax savings @ 24.0%: +$701
• After-tax cash flow: $372/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

+172.7% since first listed

7 events — show timeline

• 2026-04-06 Listing Removed — GPRMLS
• 2026-04-06 Listed $150,000 GPRMLS
• 2026-03-23 Listed $160,000 GPRMLS
• 2016-04-27 Sold (Public Records) $38,000 Public Records
• 2016-04-27 Sold (MLS) $38,000 GPRMLS
• 2016-02-27 Listing Removed — GPRMLS
• 2015-12-22 Listed $55,000 GPRMLS

Property tax history

+5.4%/yr

Latest (2025): $1,767 · +171.8% YoY. Source: county tax records.