Olsen Plan

Omaha, NE 68007

$319,990D-

4 bd · 3.0 ba · 2,199 sqft · Built — · SingleFamily · Active · 864 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,829/mo
• Mortgage (P&I): −$2,185
• Tax + insurance: −$695
• HOA: −$0
• Vac / Maint / Mgmt: −$594
• Net cashflow: $-645/mo
• Annual: $-7,744/yr
• Cap rate: 4.43%
• Cash-on-cash: -6.64%
• DSCR: 0.70
• 1% rule: 0.68%
• Cash to close: $116,689

Investor read

• This is a 4-bed/3.0-bath single-family listed at $320k. Condition is rated good.
• At list price, monthly cash flow is $-645 ($-8k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $283k (11.6% below list).
• It's been on market 864 days — a 12% lower offer ($282k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $282k (12.0% below list) — sets the bar for market timing.
• 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.
• Bennington Public Schools (rural): math 67% / reading 67% proficiency, ranked #3 of 111 in NE (top 3%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 6% free/reduced lunch — higher-income household profile.
• Zoned schools: Pine Creek Elementary (math 77% / reading 74%, grade A, #18 of 502 statewide, top 3%, 578 students, 8% FRL); Bennington High School (math 66% / reading 70%, grade B, #21 of 261 statewide, top 8%, 1,002 students, 14% FRL) — zoned schools at 11% FRL track the district average.
• Market conditions: Rents rising fast (+5.9%/yr); 692 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 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.

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?
• It's been on market 864 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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.