1501 F St · Lincoln, NE 68508

$449,000

None bd · None ba · 4,300 sqft · MultiFamily public records · 28 Days on market

Built 1961 2,150 sqft lot Est $434k · at est.

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Why this score? — see what drove the B+ 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 +30.0/30.0
• DSCR +10.0/10.0
• Appreciation +9.7/10.0
• 1% rule +8.1/10.0
• ARV discount +6.0/15.0
• Schools +4.4/10.0
• Livability +4.2/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Well-located 6 unit multifamily property at 1501 F Street in Lincoln, Nebraska. This asset offers a solid small-multifamily investment with steady rental demand and reliable in-place income. The six-unit configuration supports efficient management and consistent occupancy. Located near downtown Lincoln, the University of Nebraska–Lincoln, and major employment centers, the property benefits from strong tenant demand driven by proximity to campus, hospitals, and urban amenities. Easy access to arterial roadways and public transportation further supports long-term rental stability. This is a straightforward opportunity for an investor seeking dependable cash flow with long-term upside th

Key facts

• Proximity to campus
• Multifamily property
• 2,150 sq ft lot

Tags

• MULTIFAMILY PROPERTY
• NEAR DOWNTOWN LINCOLN
• PROXIMITY TO CAMPUS
• PUBLIC TRANSPORTATION

What this means for you Summary

Snapshot

• This is a 6 × 3-bed/1.5-bath units multifamily listed at $449k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive. Per door: $288/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $449k).
• Recommended offer: $442k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.9% 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: Mcphee Elementary School (math 22% / reading 37%, grade F, #427 of 502 statewide, top 87%, 282 students, 0% FRL); Park Middle School (math 37% / reading 37%, grade F, #99 of 128 statewide, top 79%, 834 students, 68% 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 35% at this address vs 52% district-wide (-16 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 (+1.7%/yr); 47 active listings in the ZIP; lower-income renter base — watch delinquency; 1,940 units permitted in Lancaster County in 2024 (895 in 5+ unit buildings).

Forward outlook

• In year one you build about $45k of equity ($3k loan paydown + $42k appreciation (9.3% local appreciation)).
• Lancaster County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (9.3% appreciation + 1.7% rent growth), your $126k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$72k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($442k) is reasonable based on typical stale-listing flexibility.
• 2 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 $230k; list at $449k implies a 95% gain — meaningful room to come down on a strong offer.

Recommended offer $442,265 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1961 — 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. 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?
6. 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?
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 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: 1.31% ✓
• Cap rate: 10.90%
• Cash-on-cash: 16.47%
• DSCR: 1.73
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $434,300
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1941 J St	0.43mi	10/6.0	4,400 (+2%)	5mo	$450,000	$102	72
1930 G St	0.36mi	12/6.0	4,446 (+3%)	14mo	$450,000	$101	66
1234 Goodhue Blvd	0.26mi	7/3.0	3,700 (-14%)	18mo	$313,500	$85	50

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

9.31% appreciation · 1.69% rent growth · sell at horizon

5-year hold

• IRR: 34.6%
• Equity multiple: 3.59×
• Total profit: $325,801
• Equity at exit: $382,200

10-year hold

• IRR: 29.7%
• Equity multiple: 7.79×
• Total profit: $853,536
• Equity at exit: $801,605

Cash invested: $125,720 (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 68508

• Home prices YoY: 4.1%
• Rents YoY: 1.7%
• Active inventory: 47
• Price-to-rent: 38.3×

Monthly cashflow live

• Estimated rent: $5,866 high
• Mortgage (P&I): −$2,355
• Tax from tax record: −$367 /mo · $4,406/yr
• Insurance: −$187
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,232
• Net cashflow: $1,725

Break-even live

Break-even rent $3,682

Max offer price $449,000

Occupancy floor 66%

6-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 6× units	3	1.5	$5,868
Total (6 units)			$5,866

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: $112,250
• Closing costs: $13,470
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-04-07
   status Pending
2. 2026-03-09
   listed $449,000 New
3. 2026-03-09
   historical
4. 2026-01-05
   listed $459,000 New
5. 2019-06-04
   soldstatus $230,000

ⓘ 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: $4,406 · $367/mo
• Projected year-2 tax: $7,768 · $647/mo
• Expected delta: +$3,362/yr (+$280/mo · 76.3%)

ⓘ 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 4/10 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: $70,392
• − Mortgage interest: −$25,151
• − Property taxes: −$4,406
• − Insurance: −$2,245
• − Repairs & maintenance: −$5,631
• − Management: −$5,631
• − Depreciation: −$13,062
• Taxable income: $14,265
• Est. tax owed @ 24.0%: −$3,424
• After-tax cash flow: $17,280/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): 18,163
• Household income: $31,191
• Rent vs Own: 91.5% rent · 8.5% own
• Severe rent burden: 1882.0

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 11% Two or more races 7% Asian 6% Black 4%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 3% Scotch-Irish 2% Lithuanian 2%
• Foreign-born: 10% · Canada, China, Philippines
• Languages at home: 84% English-only · Spanish 8% Other Asian/Pacific 2% Chinese 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: ▲ 9.31%
• Current HPI: 238.2553
• Rent YoY: ▲ 1.69%
• 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

+95.2% since first listed

5 events — show timeline

• 2026-04-07 Pending — GPRMLS
• 2026-03-09 Listing Removed — GPRMLS
• 2026-03-09 Listed $449,000 GPRMLS
• 2026-01-05 Listed $459,000 GPRMLS
• 2019-06-04 Sold (Public Records) $230,000 Public Records

Property tax history

+4.3%/yr

Latest (2025): $4,406 · -3.2% YoY. Source: county tax records.