4248 N 20th St · Lincoln, NE 68521

$30,000

2 bd · 2.5 ba · 1,344 sqft · Manufactured · 99 Days on market

Built 1972 1,307 sqft lot $22/sqft · 39% below area Est $49k · 39% under ↓ 13% since listing

---

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 +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.4/10.0
• Livability +4.2/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to 4248 N 20th! 2 bed, 3 bath trailer home offers comfortable living with extra space to enjoy! The home features a sun room and a covered front porch perfect for relaxing. The fenced in backyard provides privacy and room for entertaining. A large unfinished basement that you can make your own! There is a workshop and lots of storage room. Conveniently located and full of potential, this home is a great opportunity for comfortable and affordable living!

Key facts

• Covered front porch
• Storage room
• Fenced in backyard

Tags

• SUN ROOM
• COVERED FRONT PORCH
• FENCED IN BACKYARD
• LARGE UNFINISHED BASEMENT
• WORKSHOP
• STORAGE ROOM

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath manufactured listed at $30k.

Deal economics

• At list price, monthly cash flow is $961 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• Recommended offer: $27k (9.0% below list) — sets the bar for market timing.
• Cap rate 44.7% 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 rising fast (+4.0%/yr); 366 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 1,940 units permitted in Lancaster County in 2024 (895 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $207 of loan paydown is wiped out by about $900 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.
• At projected returns (-3.0% appreciation + 4.0% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($27k) is reasonable based on typical stale-listing flexibility.

Recommended offer $27,300 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 4.81% ✓
• Cap rate: 44.73%
• Cash-on-cash: 137.26%
• DSCR: 7.11
• GRM: 1.7

CMA / ARV

• ARV (median comp): $49,183
• List price: $30,000
• Delta: -39.00%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4239 Bellville Dr	0.14mi	3/2.0 (+1)	1,344 (0%)	3mo	$47,500	$35	84
1908 Northville Cir	0.14mi	3/2.0 (+1)	1,344 (0%)	20mo	$56,000	$42	70
4132 N 20th St	0.09mi	3/2.0 (+1)	1,324 (-2%)	24mo	$75,000	$57	66

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 · 4.04% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.89×
• Total profit: $57,866
• Equity at exit: $4,473

10-year hold

• IRR: —
• Equity multiple: 17.14×
• Total profit: $135,608
• Equity at exit: $2,594

Cash invested: $8,400 (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 68521

• Home prices YoY: -34.1%
• Rents YoY: 4.0%
• Active inventory: 366
• Price-to-rent: 1.7×

Monthly cashflow live

• Estimated rent: $1,444 high
• Mortgage (P&I): −$157
• Tax from tax record: −$10 /mo · $126/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$303
• Net cashflow: $961

Break-even live

Break-even rent $228

Max offer price $30,000

Occupancy floor 28%

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: $7,500
• Closing costs: $900
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1615 Old Glory Rd Lincoln, NE	3.0	2.5	1564	$1,800	$1.15	43d	1	0.39mi
1501 Superior St Lincoln, NE	1.0–2.0	1.0–2.0	818	$1,211	$1.48	13d	11	0.43mi
4800 N 15th St Unit 3-211 Lincoln, NE	2.0	2.0	950	$1,225	$1.29	43d	1	0.52mi
4800 N 15th St Unit 4-LL07 Lincoln, NE	3.0	2.0	1150	$1,395	$1.21	21d	1	0.52mi
4800 N 15th St Unit 3-307 Lincoln, NE	2.0	2.0	950	$1,225	$1.29	13d	1	0.52mi
4800 N 15th St Unit 4-303 Lincoln, NE	3.0	2.0	1150	$1,395	$1.21	43d	1	0.52mi
1431 Hilltop Rd Lincoln, NE	2.0–3.0	2.0	1050	$1,225	$1.17	13d	1	0.58mi
1151 Elba Ave Lincoln, NE	3.0	1.5	1443	$1,695	$1.17	43d	1	0.66mi
4420 N 7th St Lincoln, NE	1.0–2.0	1.0–2.0	881	$1,092	$1.24	13d	17	0.90mi
3201 N 12th St Lincoln, NE	3.0	1.0	928	$1,250	$1.35	13d	1	0.92mi
1205 Adams St Lincoln, NE	2.0	1.0	875	$1,350	$1.54	43d	1	0.99mi
3101 N Hill Rd Lincoln, NE	1.0–3.0	1.0–2.0	944	$1,212	$1.28	13d	16	1.05mi
4911 N 32nd St Lincoln, NE	1.0–2.0	1.0–2.0	887	$1,290	$1.45	13d	23	1.05mi
5404 Folkways Pl Lincoln, NE	3.0	2.5	1680	$2,000	$1.19	21d	1	1.21mi
North Pointe Villas Lincoln, NE	3.0	1.0–2.0	1022	$1,919	$1.88	13d	25	1.33mi
2701 Fletcher Ave Lincoln, NE	2.0	1.0–2.0	633	$1,540	$2.43	13d	7	1.50mi

Listing history 16 events

1. 2026-06-18
   days on market $30,000 Active 99 DOM
2. 2026-06-17
   days on market $30,000 Active 98 DOM
3. 2026-06-16
   days on market $30,000 Active 97 DOM
4. 2026-06-15
   days on market $30,000 Active 96 DOM
5. 2026-06-14
   days on market $30,000 Active 94 DOM
6. 2026-06-10
   days on market $30,000 Active 91 DOM
7. 2026-06-09
   days on market $30,000 Active 90 DOM
8. 2026-06-08
   days on market $30,000 Active 89 DOM
9. 2026-06-07
   days on market $30,000 Active 88 DOM
10. 2026-06-05
    days on market $30,000 Active 85 DOM
11. 2026-06-03
    days on market $30,000 Active 84 DOM
12. 2026-06-02
    days on market $30,000 Active 83 DOM
13. 2026-05-31
    days on market $30,000 Active 81 DOM
14. 2026-05-30
    days on market $30,000 Active 80 DOM
15. 2026-04-15
    price $33,000 470-char remark

    Show marketing remark (470 chars)

    Welcome home to 4248 N 20th! 2 bed, 3 bath trailer home offers comfortable living with extra space to enjoy! The home features a sun room and a covered front porch perfect for relaxing. The fenced in backyard provides privacy and room for entertaining. A large unfinished basement that you can make your own! There is a workshop and lots of storage room. Conveniently located and full of potential, this home is a great opportunity for comfortable and affordable living!

16. 2026-03-11
    listed $38,000 New 470-char remark

    Show marketing remark (470 chars)

    Welcome home to 4248 N 20th! 2 bed, 3 bath trailer home offers comfortable living with extra space to enjoy! The home features a sun room and a covered front porch perfect for relaxing. The fenced in backyard provides privacy and room for entertaining. A large unfinished basement that you can make your own! There is a workshop and lots of storage room. Conveniently located and full of potential, this home is a great opportunity for comfortable and affordable living!

ⓘ 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: $126 · $10/mo
• Projected year-2 tax: $519 · $43/mo
• Expected delta: +$393/yr (+$33/mo · 312.2%)

ⓘ 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 ≥105°F today · 15 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: $17,334
• − Mortgage interest: −$1,680
• − Property taxes: −$126
• − Insurance: −$150
• − Repairs & maintenance: −$1,387
• − Management: −$1,387
• − Depreciation: −$873
• Taxable income: $11,731
• Est. tax owed @ 24.0%: −$2,815
• After-tax cash flow: $8,714/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): 37,050
• Household income: $67,483
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 1500.0

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 (70%)
• Race & ethnicity: White 70% Hispanic / Latino 12% Asian 8% Two or more races 7% Black 5%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 2% Arab 2% Italian 2%
• Foreign-born: 15% · Vietnam, Canada, United Kingdom
• Languages at home: 78% English-only · Spanish 9% Vietnamese 6% Arabic 3%

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: ▼ -124.30%
• Current HPI: 239.8394
• Rent YoY: ▲ 4.04%
• 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

-13.2% since first listed

2 events — show timeline

• 2026-04-15 Price Changed $33,000 GPRMLS
• 2026-03-11 Listed $38,000 GPRMLS

Property tax history

+4.6%/yr

Latest (2025): $126 · -11.7% YoY. Source: county tax records.