505 S 35th Ave · Omaha, NE 68105

$125,000

2 bd · 1.0 ba · 960 sqft · Condo public records · 34 Days on market

Built 2022

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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 +23.0/30.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• 1% rule +5.9/10.0
• Livability +4.2/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cute And Convenient Ready To Move In To Large Living Room And Dining Room Close To Mutual Of Omaha And Downtown Well Cared For Home Off Street Parking,Ama,Furn 2002/Air 2001

Key facts

• Covered front porch
• Off street parking
• Unfinished basement

Tags

• COVERED FRONT PORCH
• SHARED BACK DECK
• OFF STREET PARKING
• UNFINISHED BASEMENT

Property features AI

Exterior

• Home design: Built in 2022
• Construction: Constructed in 2022
• Exterior features: Located in the Southeast Omaha subdivision

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $125k.

Deal economics

• At list price, monthly cash flow is $221 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $121k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.4% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 4,539 units permitted in Douglas County in 2024 (2,583 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 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

• It's been on market 34 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 23y 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 $65k; list at $125k implies a 92% gain — meaningful room to come down on a strong offer.

Recommended offer $121,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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. 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?
5. 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.
6. 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.
7. 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: 1.09% ✓
• Cap rate: 8.42%
• Cash-on-cash: 7.58%
• DSCR: 1.34
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -4.0%
• Equity multiple: 0.85×
• Total profit: $-5,247
• Equity at exit: $18,638

10-year hold

• IRR: 6.5%
• Equity multiple: 1.50×
• Total profit: $17,397
• Equity at exit: $10,808

Cash invested: $35,000 (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: 7.7×

Monthly cashflow live

• Estimated rent: $1,358 high
• Mortgage (P&I): −$656
• Tax from tax record: −$144 /mo · $1,726/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$285
• Net cashflow: $221

Break-even live

Break-even rent $1,078

Max offer price $125,000

Occupancy floor 79%

Sensitivity live

Price	-10% $292	-5% $257	+0% $221	+5% $186	+10% $150
Rent	-10% $114	-5% $168	+0% $221	+5% $275	+10% $328
Rate	-1.0pp $284	-0.5pp $253	base $221	+0.5pp $189	+1.0pp $156

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
508 S 35th Ave Omaha, NE	1.0–2.0	1.0	775	$1,000	$1.29	5d	6	0.03mi
3625 Dewey Ave Unit 304 Omaha, NE	1.0	1.0	750	$1,340	$1.79	25d	1	0.11mi
3625 Dewey Ave Unit 302 Omaha, NE	1.0	1.0	760	$1,250	$1.64	25d	1	0.11mi
3419 Howard St Unit 551-1 Omaha, NE	2.0	1.0	864	$1,225	$1.42	45d	1	0.12mi
535 S 37th St Omaha, NE	1.0–2.0	1.0–2.0	1025	$1,475	$1.44	13d	3	0.13mi
603 S 35th Ave Omaha, NE	1.0	1.0	650	$1,145	$1.76	25d	3	0.14mi
622 S 36th St Unit 2 Omaha, NE	1.0	1.0	650	$945	$1.45	21d	1	0.15mi
3618 Farnam St Ste 205 Omaha, NE	1.0	1.0	613	$1,295	$2.11	45d	1	0.17mi
3618 Farnam St Ste 310 Omaha, NE	1.0	1.0	739	$1,600	$2.17	45d	1	0.17mi
3618 Farnam St Unit 508- ADA Omaha, NE	2.0	2.0	1010	$2,225	$2.20	45d	1	0.17mi
3618 Farnam St Unit 403 Omaha, NE	1.0	1.0	569	$1,250	$2.20	45d	1	0.17mi
3618 Farnam St Ste 419 Omaha, NE	2.0	2.0	1010	$2,100	$2.08	45d	1	0.17mi
3618 Farnam St Ste 108 Omaha, NE	1.0	1.0	691	$1,455	$2.11	45d	1	0.17mi
3618 Farnam St Unit 226 Omaha, NE	2.0	2.0	880	$1,800	$2.05	45d	1	0.17mi
3618 Farnam St Unit 417 Omaha, NE	1.0	1.0	739	$1,525	$2.06	45d	1	0.17mi
617 S 37th St Omaha, NE	1.0–2.0	1.0	845	$1,285	$1.52	12d	8	0.18mi
3301 Dewey Ave Unit 9 Omaha, NE	1.0	1.0	540	$795	$1.47	5d	1	0.18mi
3301 Dewey Ave Unit 6 Omaha, NE	1.0	1.0	540	$850	$1.57	25d	1	0.18mi
3618 Farnam St Unit 518 Omaha, NE	1.0	1.0	825	$1,695	$2.05	45d	1	0.18mi
617 S 35th St Omaha, NE	1.0	1.0	700	$995	$1.42	45d	1	0.19mi
3724 Jackson St Omaha, NE	2.0	1.5	1038	$1,675	$1.61	45d	1	0.20mi
3310 Jackson St Unit 3310 Omaha, NE	1.0	1.0	800	$1,025	$1.28	5d	1	0.20mi
3601 Jones St Omaha, NE	2.0	1.0–2.0	861	$2,214	$2.57	5d	24	0.20mi
616 S 37th St Unit 6 Omaha, NE	1.0	1.0	650	$875	$1.35	45d	1	0.20mi
3304 Jackson St Omaha, NE	2.0	1.0	790	$950	$1.20	45d	2	0.21mi
3737 Farnam St Omaha, NE	1.0	1.0	780	$2,150	$2.75	5d	16	0.21mi
709 S 35th St Omaha, NE	1.0	1.0	550	$949	$1.73	25d	1	0.22mi
709 S 35th St Apt 10 Omaha, NE	1.0	1.0	550	$949	$1.73	25d	1	0.22mi
233 S 33rd St Omaha, NE	1.0–2.0	1.0–2.0	997	$2,473	$2.48	13d	25	0.24mi
3306 Jones St Omaha, NE	2.0	1.0–2.0	749	$1,455	$1.94	5d	13	0.24mi
3612 Leavenworth St Omaha, NE	1.0–2.0	1.0	850	$1,895	$2.23	45d	1	0.25mi
3815 Dewey Ave Omaha, NE	1.0	1.0	725	$1,299	$1.79	5d	1	0.26mi
3804 Farnam St Omaha, NE	2.0	1.0–2.0	973	$1,622	$1.67	16d	2	0.26mi
133 S 38th St Unit 4 Omaha, NE	1.0	1.0	700	$795	$1.14	16d	1	0.26mi
620 S 38th St Omaha, NE	1.0–2.0	1.0–2.0	816	$1,092	$1.34	16d	2	0.26mi
725 S 37th St Unit 9 Omaha, NE	1.0	1.0	650	$950	$1.46	45d	1	0.26mi
725 S 37th St Unit 5 Omaha, NE	1.0	1.0	650	$900	$1.38	45d	1	0.26mi
606 S 32nd Ave Apt 20 Omaha, NE	1.0	1.0	740	$895	$1.21	25d	1	0.26mi
606 S 32nd Ave Omaha, NE	1.0	1.0	720	$850	$1.18	16d	3	0.26mi
606 S 32nd Ave Unit 23 Omaha, NE	1.0	1.0	740	$850	$1.15	5d	1	0.26mi

HOA detail condo

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

Listing history 19 events

1. 2026-06-21
   days on market $125,000 Active 34 DOM
2. 2026-06-18
   days on market $125,000 Active 31 DOM
3. 2026-06-17
   days on market $125,000 Active 30 DOM
4. 2026-06-16
   days on market $125,000 Active 29 DOM
5. 2026-06-15
   days on market $125,000 Active 28 DOM
6. 2026-06-13
   days on market $125,000 Active 26 DOM
7. 2026-06-10
   days on market $125,000 Active 23 DOM
8. 2026-06-09
   days on market $125,000 Active 22 DOM
9. 2026-06-08
   days on market $125,000 Active 21 DOM
10. 2026-06-07
    days on market $125,000 Active 20 DOM
11. 2026-06-03
    days on market $125,000 Active 16 DOM
12. 2026-06-03
    days on market $125,000 Active 15 DOM
13. 2026-06-01
    days on market $125,000 Active 14 DOM
14. 2026-06-01
    days on market $125,000 Active 13 DOM
15. 2026-05-18
    listed $125,000 Active
16. 2003-12-04
    soldstatus $65,000
17. 2003-11-26
    soldstatus $65,000 173-char remark

    Show marketing remark (173 chars)

    Cute And Convenient Ready To Move In To Large Living Room And Dining Room Close To Mutual Of Omaha And Downtown Well Cared For Home Off Street Parking,Ama,Furn 2002/Air 2001

18. 2003-10-11
    historical 173-char remark

    Show marketing remark (173 chars)

    Cute And Convenient Ready To Move In To Large Living Room And Dining Room Close To Mutual Of Omaha And Downtown Well Cared For Home Off Street Parking,Ama,Furn 2002/Air 2001

19. 2003-07-09
    listed $67,943 173-char remark

    Show marketing remark (173 chars)

    Cute And Convenient Ready To Move In To Large Living Room And Dining Room Close To Mutual Of Omaha And Downtown Well Cared For Home Off Street Parking,Ama,Furn 2002/Air 2001

ⓘ 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: $1,726 · $144/mo
• Projected year-2 tax: $2,162 · $180/mo
• Expected delta: +$437/yr (+$36/mo · 25.3%)

ⓘ 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: $16,293
• − Mortgage interest: −$7,002
• − Property taxes: −$1,726
• − Insurance: −$625
• − Repairs & maintenance: −$1,303
• − Management: −$1,303
• − Depreciation: −$3,636
• Taxable income: $697
• Est. tax owed @ 24.0%: −$167
• After-tax cash flow: $2,487/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

+84.0% since first listed

5 events — show timeline

• 2026-05-18 Listed $125,000 FSBO.com
• 2003-12-04 Sold (Public Records) $65,000 Public Records
• 2003-11-26 Sold (MLS) $65,000 GPRMLS
• 2003-10-11 Listing Removed — GPRMLS
• 2003-07-09 Listed $67,943 GPRMLS

Property tax history

+4.6%/yr

Latest (2025): $1,726 · +1.4% YoY. Source: county tax records.