613 S 180 Ave

Omaha, NE 68022

$419,900D

3 bd · 2.5 ba · 2,285 sqft · Built 2005 · Other · Active · 29 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,732/mo
• Mortgage (P&I): −$2,202
• Tax + insurance: −$669
• HOA: −$0
• Vac / Maint / Mgmt: −$574
• Net cashflow: $-713/mo
• Annual: $-8,556/yr
• Cap rate: 4.26%
• Cash-on-cash: -7.28%
• DSCR: 0.68
• 1% rule: 0.65%
• Cash to close: $117,572

Investor read

• This is a 3-bed/2.5-bath other listed at $420k.
• At list price, monthly cash flow is $-713 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $294k (30.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $273k (34.9% below list).
• It's been on market 29 days — a 2% lower offer ($414k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $273k (34.9% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• 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.
• Elkhorn Public Schools (urban): math 77% / reading 76% proficiency, ranked #1 of 111 in NE (top 1%) — strong family-tenant draw, lease renewals of 3-5y typical; only 5% free/reduced lunch — higher-income household profile.
• Zoned schools: Spring Ridge Elementary (math 77% / reading 84%, grade A+, #7 of 502 statewide, top 1%, 502 students, 6% FRL); Elkhorn Ridge Middle School (math 76% / reading 74%, grade A, #3 of 128 statewide, top 2%, 545 students, 5% FRL); Elkhorn South High School (math 85% / reading 83%, grade A, #1 of 261 statewide, top 0%, 1,428 students, 5% FRL) — zoned schools at 5% FRL track the district average.
• Market conditions: Rents rising fast (+4.2%/yr); 793 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 4,539 units permitted in Douglas County in 2024 (2,583 in 5+ unit buildings).
• Douglas County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 6 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 $257k; list at $420k implies a 63% gain — meaningful room to come down on a strong offer.

Questions for listing agent

• 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.
• 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.