6128 Ballard Ave · Lincoln, NE 68507

$169,000

3 bd · 1.0 ba · 1,627 sqft · SingleFamily public records · 50 Days on market

Built 1900 4,356 sqft lot $104/sqft · 20% below area Est $221k · 24% under

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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 +25.4/30.0
• ARV discount +15.0/15.0
• DSCR +8.4/10.0
• 1% rule +6.2/10.0
• Schools +4.4/10.0
• Livability +4.2/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investment opportunity for a Havelock stunner! Bungalow with a open style living room and nice sized bedrooms. Large kitchen, office and bathroom all on the main level. Full basement with tons of space. New siding soffit fascia gutters in 2020. Can be sold in a package with 4300 N 61st and 4308 N 61st. Zoned B3 Commercial, call today!

Key facts

• 4,356 sq ft lot
• Garage
• Built 1900

Property features AI

Exterior

• Parking: Attached garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property; Built in 1900; Total living area approximately 1,700 square feet; Above-grade finished area about 977 square feet; Below-grade finished area about 723 square feet
• Construction: Block foundation
• Exterior features: Front porch

Interior

• Bedrooms: Main floor master bedroom; Main floor additional bedrooms
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Finished basement; No fireplaces

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $169k.

Deal economics

• At list price, monthly cash flow is $391 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $169k).
• Recommended offer: $164k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.1% 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: Pershing Elementary School (math 52% / reading 47%, grade D, #233 of 502 statewide, top 52%, 443 students, 73% FRL); Dawes Middle School (math 32% / reading 38%, grade F, #103 of 128 statewide, top 80%, 405 students, 48% FRL); Lincoln Northeast High School (math 34% / reading 36%, grade F, #207 of 261 statewide, top 79%, 1,812 students, 62% FRL) — zoned schools average 61% FRL vs 37% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.4%/yr); 100 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 43% 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 33% of the median local income ($69k/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 $5k 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 50 days — a 3% lower offer ($164k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $163,930 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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. 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.
7. 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.
8. 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: 1.12% ✓
• Cap rate: 9.07%
• Cash-on-cash: 9.92%
• DSCR: 1.44
• GRM: 7.4

CMA / ARV

• ARV (median comp): $221,118
• List price: $169,000
• Delta: -23.57%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6320 Kearney Ave	0.25mi	3/2.0	1,526 (-6%)	5mo	$205,000	$134	69
5939 Logan Ave	0.22mi	2/2.0 (-1)	1,516 (-7%)	6mo	$225,000	$148	64
6525 Platte Ave	0.31mi	4/2.0 (+1)	1,460 (-10%)	1mo	$255,500	$175	59
6901 Benton St	0.70mi	3/2.0	1,628 (+0%)	7mo	$236,000	$145	57
6641 Benton St	0.59mi	3/2.0	1,705 (+5%)	11mo	$260,000	$152	52
7040 Seward Ave	0.71mi	3/2.0	1,538 (-6%)	3mo	$240,000	$156	52
6861 Benton St	0.69mi	3/2.0	1,475 (-9%)	1mo	$250,000	$169	47
6731 Fremont St	0.67mi	3/2.0	1,537 (-6%)	11mo	$265,000	$172	46
5230 Ervin St	0.70mi	3/1.5	1,390 (-15%)	2mo	$202,000	$145	40
6870 Fremont St	0.72mi	3/2.0	1,425 (-12%)	3mo	$245,000	$172	39
7131 Kearney Ave	0.75mi	3/2.0	1,412 (-13%)	5mo	$235,000	$166	35
4440 N 71st St	0.69mi	2/2.0 (-1)	1,420 (-13%)	10mo	$169,900	$120	29

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 · 2.37% rent growth · sell at horizon

5-year hold

• IRR: -2.1%
• Equity multiple: 0.92×
• Total profit: $-3,673
• Equity at exit: $25,198

10-year hold

• IRR: 6.9%
• Equity multiple: 1.51×
• Total profit: $24,007
• Equity at exit: $14,612

Cash invested: $47,320 (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 68507

• Rents YoY: 2.4%
• Active inventory: 100
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,899 high
• Mortgage (P&I): −$886
• Tax from tax record: −$153 /mo · $1,831/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$399
• Net cashflow: $391

Break-even live

Break-even rent $1,404

Max offer price $169,000

Occupancy floor 74%

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4444 N 60th St Lincoln, NE	2.0	1.0	1248	$1,440	$1.15	14d	1	0.18mi
6433 Platte Ave Lincoln, NE	2.0	1.0	1386	$1,995	$1.44	21d	1	0.24mi
4525 N 70th St Lincoln, NE	4.0	2.0	2064	$1,850	$0.90	21d	1	0.60mi
2840 N Cotner Blvd Unit 1 Lincoln, NE	3.0	1.0	1450	$1,425	$0.98	44d	1	1.08mi
4842 Adams St Unit 2 Lincoln, NE	4.0	2.5	1764	$2,095	$1.19	44d	1	1.26mi
2228 Mirwyn Ct Lincoln, NE	3.0	3.0	1748	$2,200	$1.26	44d	1	1.47mi
2210 Mirwyn Ct Lincoln, NE	3.0	3.0	1748	$2,000	$1.14	14d	1	1.49mi

Listing history 16 events

1. 2026-06-18
   days on market $169,000 Active 50 DOM
2. 2026-06-17
   days on market $169,000 Active 49 DOM
3. 2026-06-16
   days on market $169,000 Active 48 DOM
4. 2026-06-15
   days on market $169,000 Active 47 DOM
5. 2026-06-14
   days on market $169,000 Active 45 DOM
6. 2026-06-10
   days on market $169,000 Active 42 DOM
7. 2026-06-09
   days on market $169,000 Active 41 DOM
8. 2026-06-08
   days on market $169,000 Active 40 DOM
9. 2026-06-07
   days on market $169,000 Active 39 DOM
10. 2026-06-05
    days on market $169,000 Active 36 DOM
11. 2026-06-03
    days on market $169,000 Active 35 DOM
12. 2026-06-02
    days on market $169,000 Active 34 DOM
13. 2026-06-01
    days on market $169,000 Active 33 DOM
14. 2026-05-31
    days on market $169,000 Active 32 DOM
15. 2026-05-30
    days on market $169,000 Active 31 DOM
16. 2026-04-29
    listed $169,000 New 336-char remark

ⓘ 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: $1,831 · $153/mo
• Projected year-2 tax: $2,924 · $244/mo
• Expected delta: +$1,093/yr (+$91/mo · 59.7%)

ⓘ 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 3/10 Moderate
• 🌡 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: $22,792
• − Mortgage interest: −$9,467
• − Property taxes: −$1,831
• − Insurance: −$845
• − Repairs & maintenance: −$1,823
• − Management: −$1,823
• − Depreciation: −$4,916
• Taxable income: $2,086
• Est. tax owed @ 24.0%: −$501
• After-tax cash flow: $4,194/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): 16,029
• Household income: $69,488
• Rent vs Own: 33.5% rent · 66.5% own
• Severe rent burden: 557.0

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 (82%)
• Race & ethnicity: White 82% Two or more races 10% Hispanic / Latino 9% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 2% Romanian 2% Lithuanian 2%
• Foreign-born: 4% · Canada, China, Vietnam
• Languages at home: 94% English-only · Spanish 4% Vietnamese 1% Arabic 1%

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: ▼ -273.66%
• Current HPI: 234.3628
• Rent YoY: ▲ 2.37%
• 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

1 event — show timeline

• 2026-04-29 Listed $169,000 GPRMLS

Property tax history

+10.7%/yr

Latest (2025): $1,831 · +1.7% YoY. Source: county tax records.