5106 Adams St · Lincoln, NE 68504

$215,000

4 bd · 2.0 ba · 1,974 sqft · SingleFamily public records · 36 Days on market

Built 1910 6,970 sqft lot $109/sqft · at area comps Est $206k · at est.

---

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).

• Cash flow +14.7/30.0
• ARV discount +5.4/15.0
• DSCR +4.5/10.0
• Schools +4.4/10.0
• Livability +4.2/5.0
• 1% rule +3.7/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fall in love with this newly updated 2 story home in University Place. Close to UNL Campus, schools, parks, and more! Enter through the screened in porch to a large foyer/living room with sleek LVP flooring. The kitchen offers plenty of cabinets, brand new countertops, and all new stainless steel appliances! Rounding out the main floor you'll find a large dining area, and an updated full bathroom. New flooring in the kitchen, and bathrooms as well! On the 2nd level you'll find a convenient laundry area, a spacious primary bedroom, and 3 additional bedrooms! Enjoy the back deck with a new railing, large back yard and massive detached 2 car garage backing to the alley make this a steal of a deal at the price! Schedule your showing today!

Key facts

• Screened in porch
• Large foyer
• Sleek lvp flooring

Tags

• SCREENED IN PORCH
• LARGE FOYER
• SLEEK LVP FLOORING
• BRAND NEW COUNTERTOPS
• LARGE DINING AREA
• UPDATED FULL BATHROOM

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $54 ($645/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $188k (12.7% below list).
• Recommended offer: $188k (12.7% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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 flat; 60 active listings in the ZIP; 8 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).
• This rent runs 40% of the median local income ($56k/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 $6k 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 36 days — a 3% lower offer ($209k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 29y 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 $110k; list at $215k implies a 95% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $187,670 (12.7% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.87% ✗
• Cap rate: 6.59%
• Cash-on-cash: 1.07%
• DSCR: 1.05
• GRM: 9.5

CMA / ARV

• ARV (median comp): $205,600
• List price: $215,000
• Delta: 4.57%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5402 Greenwood St	0.21mi	4/2.0	2,066 (+5%)	12mo	$265,000	$128	73
4935 Fremont St	0.40mi	3/2.0 (-1)	1,928 (-2%)	1mo	$235,000	$122	72
4915 Fremont St	0.40mi	4/2.0	1,996 (+1%)	11mo	$248,700	$125	70
4604 Madison Ave	0.38mi	4/2.5	1,817 (-8%)	0mo	$250,000	$138	67
5710 Walker Ave	0.57mi	4/2.0	1,890 (-4%)	11mo	$238,000	$126	57
6019 Baldwin Ave	0.66mi	3/2.0 (-1)	1,902 (-4%)	4mo	$203,500	$107	54
5442 Greenwood St	0.25mi	3/2.0 (-1)	1,772 (-10%)	15mo	$223,500	$126	54
4242 Madison Ave	0.60mi	4/2.5	1,792 (-9%)	2mo	$250,000	$140	53
4630 Colfax Cir	0.72mi	3/2.0 (-1)	1,928 (-2%)	12mo	$265,000	$137	48
6034 Baldwin Ave	0.67mi	3/2.0 (-1)	1,901 (-4%)	15mo	$270,000	$142	46
4612 Colfax Cir	0.73mi	5/3.0 (+1)	1,819 (-8%)	11mo	$280,000	$154	35
6031 Saint Paul Ave	0.64mi	3/2.0 (-1)	2,228 (+13%)	13mo	$259,900	$117	33

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 · 0.56% rent growth · sell at horizon

5-year hold

• IRR: -17.3%
• Equity multiple: 0.40×
• Total profit: $-35,922
• Equity at exit: $32,057

10-year hold

• IRR: -14.4%
• Equity multiple: 0.26×
• Total profit: $-44,478
• Equity at exit: $18,589

Cash invested: $60,200 (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 68504

• Rents YoY: 0.6%
• Active inventory: 60
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,877 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$212 /mo · $2,542/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$394
• Net cashflow: $54

Break-even live

Break-even rent $1,809

Max offer price $215,000

Occupancy floor 92%

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4842 Adams St Unit 2 Lincoln, NE	4.0	2.5	1764	$2,095	$1.19	43d	1	0.19mi
4602 Saint Paul Ave Unit 3 Lincoln, NE	4.0	1.0	1344	$1,550	$1.15	13d	1	0.44mi
2228 Mirwyn Ct Lincoln, NE	3.0	3.0	1748	$2,200	$1.26	43d	1	0.92mi
2210 Mirwyn Ct Lincoln, NE	3.0	3.0	1748	$2,000	$1.14	13d	1	0.93mi
3811 Baldwin Ave Lincoln, NE	1.0–3.0	1.0–2.0	1015	$1,489	$1.47	13d	14	0.97mi
2840 N Cotner Blvd Unit 1 Lincoln, NE	3.0	1.0	1450	$1,425	$0.98	43d	1	1.00mi
4630 Starr St Unit 4630 Lincoln, NE	3.0	1.0	1460	$1,250	$0.86	43d	1	1.14mi
1025 N 63rd St Lincoln, NE	1.0–3.0	1.0–2.0	1157	$1,590	$1.37	13d	7	1.36mi

Listing history 14 events

1. 2026-05-10
   status Pending 745-char remark

   Show marketing remark (745 chars)

   Fall in love with this newly updated 2 story home in University Place. Close to UNL Campus, schools, parks, and more! Enter through the screened in porch to a large foyer/living room with sleek LVP flooring. The kitchen offers plenty of cabinets, brand new countertops, and all new stainless steel appliances! Rounding out the main floor you'll find a large dining area, and an updated full bathroom. New flooring in the kitchen, and bathrooms as well! On the 2nd level you'll find a convenient laundry area, a spacious primary bedroom, and 3 additional bedrooms! Enjoy the back deck with a new railing, large back yard and massive detached 2 car garage backing to the alley make this a steal of a deal at the price! Schedule your showing today!

2. 2026-04-30
   price $215,000 745-char remark

   Show marketing remark (745 chars)

   Fall in love with this newly updated 2 story home in University Place. Close to UNL Campus, schools, parks, and more! Enter through the screened in porch to a large foyer/living room with sleek LVP flooring. The kitchen offers plenty of cabinets, brand new countertops, and all new stainless steel appliances! Rounding out the main floor you'll find a large dining area, and an updated full bathroom. New flooring in the kitchen, and bathrooms as well! On the 2nd level you'll find a convenient laundry area, a spacious primary bedroom, and 3 additional bedrooms! Enjoy the back deck with a new railing, large back yard and massive detached 2 car garage backing to the alley make this a steal of a deal at the price! Schedule your showing today!

3. 2026-04-03
   listed $225,000 New 745-char remark

   Show marketing remark (745 chars)

   Fall in love with this newly updated 2 story home in University Place. Close to UNL Campus, schools, parks, and more! Enter through the screened in porch to a large foyer/living room with sleek LVP flooring. The kitchen offers plenty of cabinets, brand new countertops, and all new stainless steel appliances! Rounding out the main floor you'll find a large dining area, and an updated full bathroom. New flooring in the kitchen, and bathrooms as well! On the 2nd level you'll find a convenient laundry area, a spacious primary bedroom, and 3 additional bedrooms! Enjoy the back deck with a new railing, large back yard and massive detached 2 car garage backing to the alley make this a steal of a deal at the price! Schedule your showing today!

4. 2020-03-06
   soldstatus $110,000 26-char remark

   Show marketing remark (26 chars)

   Sold. Input for stats only

5. 2020-03-06
   soldstatus $110,000

   Show marketing remark (26 chars)

   Sold. Input for stats only

6. 2020-02-03
   listed $115,000 26-char remark

   Show marketing remark (26 chars)

   Sold. Input for stats only

7. 2017-12-21
   soldstatus $90,000
8. 2017-11-21
   historical
9. 2017-08-25
   listed $105,000
10. 2017-08-23
    historical
11. 2017-06-23
    listed $114,900
12. 2003-05-19
    soldstatus $80,000
13. 1997-11-27
    historical
14. 1997-07-18
    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: $2,542 · $212/mo
• Projected year-2 tax: $3,720 · $310/mo
• Expected delta: +$1,178/yr (+$98/mo · 46.3%)

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°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: $22,520
• − Mortgage interest: −$12,043
• − Property taxes: −$2,542
• − Insurance: −$1,075
• − Repairs & maintenance: −$1,802
• − Management: −$1,802
• − Depreciation: −$6,255
• Taxable loss: −$2,997
• Est. tax savings @ 24.0%: +$719
• After-tax cash flow: $1,364/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): 17,278
• Household income: $56,213
• Rent vs Own: 68.5% rent · 31.5% own
• Severe rent burden: 1076.0

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 (71%)
• Race & ethnicity: White 71% Hispanic / Latino 9% Two or more races 9% Black 7% Asian 5% Native American 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 4% Lithuanian 2% Portuguese 2%
• Foreign-born: 10% · Canada, South Korea, Vietnam
• Languages at home: 86% English-only · Spanish 4% Other Indo-European 4% Arabic 2%

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: ▼ -157.10%
• Current HPI: 246.8013
• Rent YoY: ▲ 0.56%
• 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

+207.1% since first listed

14 events — show timeline

• 2026-05-10 Pending — GPRMLS
• 2026-04-30 Price Changed $215,000 GPRMLS
• 2026-04-03 Listed $225,000 GPRMLS
• 2020-03-06 Sold (Public Records) $110,000 Public Records
• 2020-03-06 Sold (MLS) $110,000 GPRMLS
• 2020-02-03 Listed $115,000 GPRMLS
• 2017-12-21 Sold (MLS) $90,000 GPRMLS
• 2017-11-21 Listing Removed — GPRMLS
• 2017-08-25 Listed $105,000 GPRMLS
• 2017-08-23 Listing Removed — GPRMLS
• 2017-06-23 Listed $114,900 GPRMLS
• 2003-05-19 Sold (Public Records) $80,000 Public Records
• 1997-11-27 Listing Removed — GPRMLS
• 1997-07-18 Listed $70,000 GPRMLS

Property tax history

+9.9%/yr

Latest (2025): $2,542 · +2.2% YoY. Source: county tax records.