12616 S 205th Ave · Gretna, NE 68028

$347,990

3 bd · 3.0 ba · 1,498 sqft · SingleFamily · 66 Days on market

Built 2026 6,229 sqft lot $232/sqft · at area comps Est $362k · at est.

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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).

• Cash flow +10.9/30.0
• ARV discount +9.2/15.0
• Schools +5.8/10.0
• Livability +4.1/5.0
• DSCR +3.2/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• 1% rule +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to the Hamilton in Parkview - a charming ranch-style home offering 1,498 sq. ft. of thoughtfully designed living space with 3 bedrooms and 2 bathrooms. Step into a bright foyer that leads past two spacious secondary bedrooms and a full bath—perfect for family, guests, or a home office setup. The heart of the home is the open-concept kitchen featuring white cabinetry, stainless steel appliances, a generous island, and ample counter space for cooking and entertaining. The adjoining great room offers large windows that fill the space with natural light and a cozy electric fireplace, making it the ideal gathering place. Tucked privately at the back of the home, the primary suite includes a dual-sink vanity, walk-in shower, and a spacious walk-in closet. This home offers comfort, functionality, and style in one beautiful package—plus an unfinished basement for future expansion. Call us for a personal tour! Ask about builder incentives with preferred lender. Photos similar to

Key facts

• Large windows
• Ample counter space
• Generous island

Tags

• OPEN-CONCEPT KITCHEN
• STAINLESS STEEL APPLIANCES
• GENEROUS ISLAND
• AMPLE COUNTER SPACE
• LARGE WINDOWS
• COZY ELECTRIC FIREPLACE

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $348k.

Deal economics

• At list price, monthly cash flow is $-151 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $321k (7.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $239k (31.4% below list).
• Recommended offer: $239k (31.4% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 2.6% in Gretna — 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 82/100 on livability (#13 in NE, #1,227 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Gretna Public Schools (suburban): math 64% / reading 64% proficiency, ranked #6 of 111 in NE (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 5% free/reduced lunch — higher-income household profile.
• Zoned schools: Squire John Thomas Elementary (math 58% / reading 65%, grade B, #106 of 502 statewide, top 21%, 390 students, 15% FRL); Gretna Middle School (math 60% / reading 57%, grade B, #21 of 128 statewide, top 17%, 728 students, 14% FRL); Gretna High School (math 63% / reading 64%, grade B-, #37 of 261 statewide, top 14%, 1,729 students, 11% FRL).
• Market conditions: Rents rising (+1.9%/yr); 534 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 1,612 units permitted in Sarpy County in 2024 (364 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Sarpy County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($327k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Recommended offer $238,584 (31.4% 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. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
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. 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?
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: 0.69% ✗
• Cap rate: 5.77%
• Cash-on-cash: -1.86%
• DSCR: 0.92
• GRM: 12.2

CMA / ARV

• ARV (median comp): $361,847
• List price: $347,990
• Delta: -3.83%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12711 S 205th Ave	0.10mi	3/3.0	1,498 (0%)	1mo	$342,990	$229	94
12710 S 206th St	0.12mi	3/3.0	1,498 (0%)	0mo	$348,990	$233	94
12606 S 205th St	0.05mi	3/2.5	1,498 (0%)	9mo	$356,215	$238	88
12607 S 205th St	0.08mi	3/2.5	1,498 (0%)	8mo	$334,990	$224	88
12659 S 205th St	0.10mi	3/2.5	1,498 (0%)	10mo	$343,209	$229	85
12507 S 205th Ave	0.07mi	3/2.5	1,498 (0%)	15mo	$344,990	$230	82
12709 S 205th St	0.12mi	3/2.5	1,498 (0%)	13mo	$329,990	$220	82
20509 Swallowtail St	0.16mi	3/2.5	1,498 (0%)	13mo	$329,990	$220	80
20467 Swallowtail St	0.17mi	3/2.5	1,498 (0%)	17mo	$379,990	$254	76
12321 S 204th Ave	0.20mi	3/2.5	1,659 (+11%)	13mo	$429,990	$259	60
12660 S 204th Ave	0.12mi	4/2.5 (+1)	1,606 (+7%)	18mo	$339,990	$212	60
12113 S 204th Ave	0.47mi	3/2.5	1,666 (+11%)	17mo	$390,000	$234	43

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 · 1.87% rent growth · sell at horizon

5-year hold

• IRR: -20.5%
• Equity multiple: 0.29×
• Total profit: $-68,868
• Equity at exit: $51,886

10-year hold

• IRR: -16.1%
• Equity multiple: 0.14×
• Total profit: $-83,873
• Equity at exit: $30,088

Cash invested: $97,437 (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 68028

• Home prices YoY: -31.0%
• Rents YoY: 1.9%
• Active inventory: 534
• Price-to-rent: 12.2×

Monthly cashflow live

• Estimated rent: $2,386 medium
• Mortgage (P&I): −$1,825
• Tax from tax record: −$66 /mo · $789/yr
• Insurance: −$145
• HOA: −$0
• Vacancy / Maint / Mgmt: −$501
• Net cashflow: $-151

Break-even live

Break-even rent $2,577

Max offer price $321,349

Occupancy floor —

Sensitivity live

Price	-10% $46	-5% $-52	+0% $-151	+5% $-249	+10% $-348
Rent	-10% $-339	-5% $-245	+0% $-151	+5% $-57	+10% $38
Rate	-1.0pp $24	-0.5pp $-62	base $-151	+0.5pp $-241	+1.0pp $-333

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: $86,998
• Closing costs: $10,440
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12660 S 204th Ave Gretna, NE	4.0	2.0	1606	$2,695	$1.68	4d	1	0.09mi
304 Pontiac Dr Gretna, NE	4.0	1.5	1500	$2,000	$1.33	45d	1	1.47mi

Listing history 19 events

1. 2026-06-22
   days on market $347,990 Active 66 DOM
2. 2026-06-18
   days on market $347,990 Active 63 DOM
3. 2026-06-17
   days on market $347,990 Active 62 DOM
4. 2026-06-16
   days on market $347,990 Active 61 DOM
5. 2026-06-15
   days on market $347,990 Active 60 DOM
6. 2026-06-13
   days on market $347,990 Active 58 DOM
7. 2026-06-10
   days on market $347,990 Active 55 DOM
8. 2026-06-09
   days on market $347,990 Active 54 DOM
9. 2026-06-08
   days on market $347,990 Active 53 DOM
10. 2026-06-07
    days on market $347,990 Active 52 DOM
11. 2026-06-03
    days on market $347,990 Active 48 DOM
12. 2026-06-03
    days on market $347,990 Active 47 DOM
13. 2026-06-01
    days on market $347,990 Active 46 DOM
14. 2026-05-31
    days on market $347,990 Active 45 DOM
15. 2026-05-11
    price $347,990 1004-char remark

    Show marketing remark (1004 chars)

    Welcome to the Hamilton in Parkview - a charming ranch-style home offering 1,498 sq. ft. of thoughtfully designed living space with 3 bedrooms and 2 bathrooms. Step into a bright foyer that leads past two spacious secondary bedrooms and a full bath—perfect for family, guests, or a home office setup. The heart of the home is the open-concept kitchen featuring white cabinetry, stainless steel appliances, a generous island, and ample counter space for cooking and entertaining. The adjoining great room offers large windows that fill the space with natural light and a cozy electric fireplace, making it the ideal gathering place. Tucked privately at the back of the home, the primary suite includes a dual-sink vanity, walk-in shower, and a spacious walk-in closet. This home offers comfort, functionality, and style in one beautiful package—plus an unfinished basement for future expansion. Call us for a personal tour! Ask about builder incentives with preferred lender. Photos similar to

16. 2026-04-24
    price $347,990 1014-char remark

    Show marketing remark (1014 chars)

    Welcome to 12616 S 205th Ave in Gretna, NE. This ranch-style home offers 3 bedrooms, 2 bathrooms, and 1,498 sq. ft. of open-concept living that blends comfort, style, and functionality. Step inside to a bright foyer leading past two spacious bedrooms and a full bath-perfect for guests, family, or a home office. The kitchen features white cabinetry, stainless steel appliances, and a large island ideal for entertaining or casual meals. The great room, filled with natural light, offers a welcoming atmosphere for gatherings or cozy nights by the electric fireplace. Tucked away for privacy, the primary suite includes a dual-sink vanity, walk-in shower, and a spacious walk-in closet. Thoughtfully designed with modern finishes, this home is ready for you to make it your own. Step into your new home at Parkview in Gretna today! This home is currently under construction. Photos and video may be similar but not necessarily of subject property, including interior and exterior colors, finishes and appliances.

17. 2026-04-17
    listed $344,990 Active 1014-char remark

    Show marketing remark (1014 chars)

    Welcome to 12616 S 205th Ave in Gretna, NE. This ranch-style home offers 3 bedrooms, 2 bathrooms, and 1,498 sq. ft. of open-concept living that blends comfort, style, and functionality. Step inside to a bright foyer leading past two spacious bedrooms and a full bath-perfect for guests, family, or a home office. The kitchen features white cabinetry, stainless steel appliances, and a large island ideal for entertaining or casual meals. The great room, filled with natural light, offers a welcoming atmosphere for gatherings or cozy nights by the electric fireplace. Tucked away for privacy, the primary suite includes a dual-sink vanity, walk-in shower, and a spacious walk-in closet. Thoughtfully designed with modern finishes, this home is ready for you to make it your own. Step into your new home at Parkview in Gretna today! This home is currently under construction. Photos and video may be similar but not necessarily of subject property, including interior and exterior colors, finishes and appliances.

18. 2026-04-16
    listed $344,990 New 1004-char remark

    Show marketing remark (1004 chars)

    Welcome to the Hamilton in Parkview - a charming ranch-style home offering 1,498 sq. ft. of thoughtfully designed living space with 3 bedrooms and 2 bathrooms. Step into a bright foyer that leads past two spacious secondary bedrooms and a full bath—perfect for family, guests, or a home office setup. The heart of the home is the open-concept kitchen featuring white cabinetry, stainless steel appliances, a generous island, and ample counter space for cooking and entertaining. The adjoining great room offers large windows that fill the space with natural light and a cozy electric fireplace, making it the ideal gathering place. Tucked privately at the back of the home, the primary suite includes a dual-sink vanity, walk-in shower, and a spacious walk-in closet. This home offers comfort, functionality, and style in one beautiful package—plus an unfinished basement for future expansion. Call us for a personal tour! Ask about builder incentives with preferred lender. Photos similar to

19. 2026-02-04
    soldstatus $1,707,111

ⓘ 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: $789 · $66/mo
• Projected year-2 tax: $6,020 · $502/mo
• Expected delta: +$5,231/yr (+$436/mo · 663.3%)

ⓘ 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 ≥103°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: $28,630
• − Mortgage interest: −$19,493
• − Property taxes: −$789
• − Insurance: −$1,740
• − Repairs & maintenance: −$2,290
• − Management: −$2,290
• − Depreciation: −$10,123
• Taxable loss: −$8,096
• Est. tax savings @ 24.0%: +$1,943
• After-tax cash flow: $133/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: Gretna Public Schools
• NCES district ID: 3171220
• Math proficiency: 64% ▼ -10.00%
• Reading proficiency: 64% ▼ -4.00%
• Median HH income: $89,845
• Composite: 58.21/100
• National rank: #1023
• State rank: #6 of 111 in NE

Livability — Gretna

• Score: 82/100
• State rank: #13
• US rank: #1227

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Sarpy County · 161,202 people
• City population: 17,529
• Metro: Omaha-Council Bluffs, NE-IA
• Population (ZIP): 17,529
• Household income: $143,604
• Rent vs Own: 16.5% rent · 83.5% own
• Severe rent burden: 339.0

Population outlook (Sarpy County) Hauer SSP2

• Today (2025): 211,769 people
• By 2030: 229,365 · +8.3%
• By 2040: 264,122 · +24.7%
• By 2050: 298,087 · +40.8%
• By 2075: 381,667 · +80.2%
• By 2100: 448,180 · +111.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Romanian 4% Iranian 3% Italian 3%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Sarpy

• 2024 margin: R (+11.7) · D 43.5% · R 55.2% · Other 1.3%
• 2008→2024 swing: +4.2pp toward D · 2008: -15.9pp · 2024: -11.7pp
• All cycles: 2024: R+11.7 2020: R+11.2 2016: R+21.8 2012: R+23.6 2008: R+15.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -108.83%
• Current HPI: 242.6423
• Rent YoY: ▲ 1.87%
• 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

-79.6% since first listed

5 events — show timeline

• 2026-05-11 Price Changed $347,990 GPRMLS
• 2026-04-24 Price Changed $347,990 Zillow
• 2026-04-17 Listed $344,990 Zillow
• 2026-04-16 Listed $344,990 GPRMLS
• 2026-02-04 Sold (Public Records) $1,707,111 Public Records

Property tax history

+39.8%/yr

Latest (2025): $789 · +0.4% YoY. Source: county tax records.