2605 Fort St · Omaha, NE 68111

$208,000

3 bd · 1.5 ba · 1,319 sqft · Other public records · 20 Days on market

Built 1909 6,000 sqft lot

---

Why this score? — see what drove the D 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).

• Appreciation +10.0/10.0
• Cash flow +9.9/30.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Rent growth +3.3/5.0
• DSCR +2.8/10.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0

Listing remarks MLS

Beautiful 2 Story home recently remodeled is ready for new memories, 3 Bedrooms, 2 Bathrooms Plenty of Square Footage here!.

Key facts

• Alley access
• Vinyl flooring
• New siding

Tags

• NEW ROOF
• NEW SIDING
• NEW GUTTERS
• NEW WINDOWS
• VINYL FLOORING
• ALLEY ACCESS

Property features AI

Exterior

• Parking: No garage
• Utilities: Electricity available; Natural gas available; Public water; Public sewer
• Home design: Single-family residence; Two stories; Residence built in 1909; Not new / not a model
• Construction: Vinyl siding; Composition roof; Slab foundation
• Exterior features: Porch; City lot with alley access; Lot approximately 50 x 120 (about 0.13 acre)

Interior

• Kitchen: Range; Refrigerator; Microwave
• Bedrooms: Primary bedroom on 2nd floor; Additional bedrooms on 2nd floor
• Flooring: Carpet; Vinyl
• Bathrooms: Two full bathrooms; One bathroom on the main floor
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Daylight, full basement; No fireplaces
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath other listed at $208k.

Deal economics

• At list price, monthly cash flow is $-131 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $185k (11.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $158k (24.3% below list).
• Recommended offer: $158k (24.3% below list) — sets the bar for 1% rule.
• Cap rate 5.5% 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.

Location & tenants

• 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.
• Omaha Public Schools (urban): math 20% / reading 28% proficiency, ranked #110 of 111 in NE (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Miller Park Elementary School (math 17% / reading 17%, grade F, #471 of 502 statewide, top 95%, 390 students, 0% FRL); Mc Millan Magnet Middle School (math 12% / reading 20%, grade F, #124 of 128 statewide, top 97%, 751 students, 0% FRL); North High School (math 21% / reading 25%, grade F, #247 of 261 statewide, top 95%, 1,796 students, 0% FRL) — zoned schools average 0% FRL vs 62% district-wide (62 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+3.2%/yr); 140 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 4,539 units permitted in Douglas County in 2024 (2,583 in 5+ unit buildings).
• This rent runs 45% of the median local income ($42k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $22k of equity ($1k loan paydown + $21k appreciation (10.0% local appreciation)).
• Douglas County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($205k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 15y 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.

Risks & watch-outs

• Watch-outs: built in 1909 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $157,542 (24.3% below list)

Questions for the listing agent

1. 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?
2. Built in 1909 — 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. 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?
5. 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?
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: 0.76% ✗
• Cap rate: 5.54%
• Cash-on-cash: -2.69%
• DSCR: 0.88
• GRM: 11.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.22% rent growth · sell at horizon

5-year hold

• IRR: 22.4%
• Equity multiple: 2.81×
• Total profit: $105,300
• Equity at exit: $187,383

10-year hold

• IRR: 20.1%
• Equity multiple: 6.45×
• Total profit: $317,319
• Equity at exit: $404,098

Cash invested: $58,240 (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 68111

• Home prices YoY: 4.0%
• Rents YoY: 3.2%
• Active inventory: 140
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $1,575 high
• Mortgage (P&I): −$1,091
• Tax from tax record: −$198 /mo · $2,373/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$331
• Net cashflow: $-131

Break-even live

Break-even rent $1,741

Max offer price $184,931

Occupancy floor —

Sensitivity live

Price	-10% $-13	-5% $-72	+0% $-131	+5% $-189	+10% $-248
Rent	-10% $-255	-5% $-193	+0% $-131	+5% $-68	+10% $-6
Rate	-1.0pp $-26	-0.5pp $-78	base $-131	+0.5pp $-184	+1.0pp $-239

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: $52,000
• Closing costs: $6,240
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5348 N 25th St Omaha, NE	4.0	1.0	1446	$1,600	$1.11	45d	1	0.21mi
2436 Laurel Ave Omaha, NE	3.0	1.0	1582	$1,495	$0.95	25d	1	0.47mi
2873 Kansas Ave Omaha, NE	3.0	2.0	1112	$1,450	$1.30	25d	1	0.58mi
6124 N 30th St Unit STREET2 Omaha, NE	2.0	1.0	1190	$1,075	$0.90	45d	1	0.70mi
4201 N 22nd St Omaha, NE	3.0	1.0	1380	$1,545	$1.12	45d	1	0.70mi
4125 N 19th St Omaha, NE	3.0	1.0	1266	$1,532	$1.21	45d	1	0.83mi
2723 Newport Ave Omaha, NE	2.0	1.0	1079	$1,450	$1.34	3d	1	0.90mi
3708 Florence Blvd Omaha, NE	3.0	1.0	1102	$1,395	$1.27	23d	1	1.04mi
3164 Ida St Omaha, NE	3.0	1.0	946	$1,600	$1.69	3d	1	1.16mi
3164 Ida St Omaha, NE	3.0	1.0	946	$1,600	$1.69	12d	1	1.16mi
3164 Ida St Omaha, NE	3.0	1.0	946	$1,600	$1.69	45d	1	1.16mi
4707 N 40th Ave Omaha, NE	3.0	1.0	1337	$1,500	$1.12	23d	1	1.19mi
3901 Curtis Ave Omaha, NE	2.0	2.5	1745	$1,850	$1.06	4d	1	1.24mi
3030 Ernst St Omaha, NE	3.0	2.0	1500	$1,500	$1.00	4d	1	1.37mi
4018 Bauman Ave Omaha, NE	3.0	1.0	925	$1,380	$1.49	45d	1	1.48mi
4026 Bauman Ave Omaha, NE	4.0	1.0	1350	$1,695	$1.26	45d	1	1.50mi

Listing history 23 events

1. 2026-06-03
   days on market $208,000 Active 20 DOM
2. 2026-06-03
   days on market $208,000 Active 19 DOM
3. 2026-06-01
   days on market $208,000 Active 18 DOM
4. 2026-06-01
   days on market $208,000 Active 17 DOM
5. 2026-05-14
   historical
6. 2026-05-13
   listed $208,000 New 499-char remark
7. 2026-04-20
   listed $215,000 New
8. 2023-04-12
   soldstatus $185,000
9. 2023-04-07
   soldstatus $185,000 Sold

   Show marketing remark (125 chars)

   Beautiful 2 Story home recently remodeled is ready for new memories, 3 Bedrooms, 2 Bathrooms Plenty of Square Footage here!.

10. 2023-03-06
    status Pending

    Show marketing remark (125 chars)

    Beautiful 2 Story home recently remodeled is ready for new memories, 3 Bedrooms, 2 Bathrooms Plenty of Square Footage here!.

11. 2023-03-01
    listed $179,900 New

    Show marketing remark (125 chars)

    Beautiful 2 Story home recently remodeled is ready for new memories, 3 Bedrooms, 2 Bathrooms Plenty of Square Footage here!.

12. 2022-07-29
    historical
13. 2022-07-14
    soldstatus $75,000
14. 2022-07-12
    listed $104,900 Active - New
15. 2022-07-08
    soldstatus $75,000 Sold
16. 2022-06-03
    historical
17. 2022-06-03
    listed $75,000
18. 2013-10-08
    historical
19. 2013-07-03
    listed $19,900
20. 2013-06-28
    historical
21. 2013-03-25
    listed $29,900
22. 2011-08-22
    historical
23. 2011-02-21
    listed $38,900

ⓘ 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: $2,373 · $198/mo
• Projected year-2 tax: $3,598 · $300/mo
• Expected delta: +$1,226/yr (+$102/mo · 51.7%)

ⓘ 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 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 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,905
• − Mortgage interest: −$11,651
• − Property taxes: −$2,373
• − Insurance: −$1,040
• − Repairs & maintenance: −$1,512
• − Management: −$1,512
• − Depreciation: −$6,051
• Taxable loss: −$5,235
• Est. tax savings @ 24.0%: +$1,256
• After-tax cash flow: $-311/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: Omaha Public Schools
• NCES district ID: 3174820
• Math proficiency: 20% ▼ -10.00%
• Reading proficiency: 28% ▼ -5.00%
• Median HH income: $46,039
• Composite: 20.83/100
• National rank: #8502
• State rank: #110 of 111 in NE

Livability — Omaha

• Score: 84/100
• State rank: #7
• US rank: #663

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime F Employment B- Housing A+ Health & safety A+ User ratings D

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Omaha, NE
• County: Douglas County · 538,646 people
• City population: 552,986
• Metro: Omaha-Council Bluffs, NE-IA
• Population (ZIP): 24,210
• Household income: $42,185
• Rent vs Own: 60.3% rent · 39.7% own
• Severe rent burden: 1913.0

Population outlook (Douglas County) Hauer SSP2

• Today (2025): 625,245 people
• By 2030: 661,613 · +5.8%
• By 2040: 732,395 · +17.1%
• By 2050: 801,988 · +28.3%
• By 2075: 968,637 · +54.9%
• By 2100: 1,101,871 · +76.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: Black 52% Hispanic / Latino 21% White 17% Two or more races 15% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Ukrainian 3% Lithuanian 0%
• Foreign-born: 14% · Canada, Philippines
• Languages at home: 75% English-only · Spanish 16% Other Asian/Pacific 3% French/Haitian/Cajun 1%

Political lean MEDSL · Douglas

• 2024 margin: D (+10.2) · D 54.4% · R 44.2% · Other 1.4%
• 2008→2024 swing: +5.5pp toward D · 2008: 4.6pp · 2024: 10.2pp
• All cycles: 2024: D+10.2 2020: D+11.3 2016: D+1.4 2012: R+4.3 2008: D+4.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 13.82%
• Current HPI: 358.7174
• Rent YoY: ▲ 3.22%
• Metro: Omaha-Council Bluffs, NE-IA
• 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

+434.7% since first listed

20 events — show timeline

• 2026-06-05 Listing Removed — GPRMLS
• 2026-05-14 Listing Removed — GPRMLS
• 2026-05-13 Listed $208,000 GPRMLS
• 2026-04-20 Listed $215,000 GPRMLS
• 2023-04-12 Sold (Public Records) $185,000 Public Records
• 2023-04-07 Sold (MLS) $185,000 GPRMLS
• 2023-03-06 Pending — GPRMLS
• 2023-03-01 Listed $179,900 GPRMLS
• 2022-07-29 Listing Removed — GPRMLS
• 2022-07-14 Sold (Public Records) $75,000 Public Records
• 2022-07-12 Listed $104,900 GPRMLS
• 2022-07-08 Sold (MLS) $75,000 GPRMLS
• 2022-06-03 Listed $75,000 GPRMLS
• 2022-06-03 Listing Removed — GPRMLS
• 2013-10-08 Listing Removed — GPRMLS
• 2013-07-03 Listed $19,900 GPRMLS
• 2013-06-28 Listing Removed — GPRMLS
• 2013-03-25 Listed $29,900 GPRMLS
• 2011-08-22 Listing Removed — GPRMLS
• 2011-02-21 Listed $38,900 GPRMLS

Property tax history

+12.2%/yr

Latest (2025): $2,373 · -6.9% YoY. Source: county tax records.