14524 Monroe Cir

Omaha, NE 68137

$200,000C-

3 bd · 2.5 ba · 1,753 sqft · Built 1978 · Other · Pending

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,086/mo
• Mortgage (P&I): −$1,049
• Tax + insurance: −$434
• HOA: −$0
• Vac / Maint / Mgmt: −$438
• Net cashflow: $165/mo
• Annual: $1,983/yr
• Cap rate: 7.28%
• Cash-on-cash: 3.54%
• DSCR: 1.16
• 1% rule: 1.04%
• Cash to close: $56,000

Investor read

• This is a 3-bed/2.5-bath other listed at $200k.
• At list price, monthly cash flow is $165 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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.
• Millard Public Schools (urban): math 58% / reading 60% proficiency, ranked #13 of 111 in NE (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 13% free/reduced lunch — higher-income household profile.
• Zoned schools: Neihardt Elementary School (math 42% / reading 42%, grade F, #319 of 502 statewide, top 68%, 549 students, 36% FRL); Harry Andersen Middle School (math 43% / reading 49%, grade D+, #60 of 128 statewide, top 48%, 911 students, 31% FRL); Millard South High School (math 51% / reading 54%, grade C-, #97 of 261 statewide, top 37%, 2,607 students, 36% FRL) — zoned schools average 34% FRL vs 13% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 47% at this address vs 59% district-wide (-12 pts) — the specific schools serving this property underperform the Millard Public Schools average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+3.6%/yr); 113 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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.
• Cap rate 7.3% vs local median 3.6% in Omaha — 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.
• This rent runs 31% of the median local income ($81k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.