3406 N 16 St · Omaha, NE 68110

$69,950

3 bd · 1.0 ba · 1,248 sqft · Other public records · 6 Days on market

Built 1925 4,792 sqft lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Looking for a project, this is it tons of potential. Located close to schools, easy commute to downtown, the new river front , Charles Schwab and lots more. Sold as is.

Key facts

• 4,792 sq ft lot
• Built 1925
• Listed 6 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $70k.

Deal economics

• At list price, monthly cash flow is $633 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Cap rate 17.2% 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: Lothrop Magnet Center (math 17% / reading 27%, grade F, #459 of 502 statewide, top 93%, 349 students, 0% FRL); King Science/Tech Magnet Middle School (math 15% / reading 24%, grade F, #121 of 128 statewide, top 95%, 667 students, 0% FRL); Central High School (math 29% / reading 40%, grade F, #208 of 261 statewide, top 86%, 2,738 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: 45 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 41% of comp listings sitting > 30 days — soft ceiling on asking rent; 4,539 units permitted in Douglas County in 2024 (2,583 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $484 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Douglas County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $10k; list at $70k implies a 600% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $69,950

Questions for the listing agent

1. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 2.06% ✓
• Cap rate: 17.15%
• Cash-on-cash: 38.78%
• DSCR: 2.73
• GRM: 4.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 35.0%
• Equity multiple: 2.48×
• Total profit: $29,012
• Equity at exit: $10,430

10-year hold

• IRR: 41.8%
• Equity multiple: 4.95×
• Total profit: $77,315
• Equity at exit: $6,048

Cash invested: $19,586 (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 68110

• Home prices YoY: -9.5%
• Active inventory: 45
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,442 high
• Mortgage (P&I): −$367
• Tax from tax record: −$110 /mo · $1,324/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$303
• Net cashflow: $633

Break-even live

Break-even rent $641

Max offer price $69,950

Occupancy floor 51%

Sensitivity live

Price	-10% $673	-5% $653	+0% $633	+5% $613	+10% $593
Rent	-10% $519	-5% $576	+0% $633	+5% $690	+10% $747
Rate	-1.0pp $668	-0.5pp $651	base $633	+0.5pp $615	+1.0pp $596

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: $17,488
• Closing costs: $2,098
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3708 Florence Blvd Omaha, NE	3.0	1.0	1102	$1,395	$1.27	23d	1	0.26mi
2816 N 19th Ave Omaha, NE	3.0	1.0	860	$1,700	$1.98	45d	1	0.41mi
1820 Miami St Omaha, NE	4.0	1.5	1306	$1,050	$0.80	45d	1	0.46mi
4125 N 19th St Omaha, NE	3.0	1.0	1266	$1,532	$1.21	45d	1	0.50mi
4201 N 22nd St Omaha, NE	3.0	1.0	1380	$1,545	$1.12	45d	1	0.59mi
3510 N 9th St Lot 47 Carter Lake, IA	3.0	2.0	1152	$1,479	$1.28	45d	1	0.92mi
1816 Florence Blvd Apt 102 Omaha, NE	2.0	1.0	900	$900	$1.00	16d	1	0.98mi
1005 Avenue K Unit 8 Carter Lake, IA	2.0	2.0	1014	$1,125	$1.11	16d	1	1.15mi
1114 Hiatt St Carter Lake, IA	3.0	1.0	1165	$1,450	$1.24	45d	1	1.22mi
1120 N 20th St Unit 103 Omaha, NE	3.0	2.0	1170	$1,150	$0.98	16d	1	1.31mi
1120 N 20th St Unit 102 Omaha, NE	3.0	2.0	1094	$580	$0.53	16d	1	1.31mi
1120 N 20th St Unit 309 Omaha, NE	4.0	2.0	1179	$1,550	$1.31	25d	1	1.32mi
5348 N 25th St Omaha, NE	4.0	1.0	1446	$1,600	$1.11	45d	1	1.38mi
1015 N 16th St Omaha, NE	1.0–2.0	1.0–2.0	1127	$1,685	$1.49	3d	11	1.40mi
1015 N 14th St Omaha, NE	1.0–3.0	1.0–3.0	910	$1,855	$2.04	3d	17	1.42mi
1117 Nicholas St Omaha, NE	2.0	1.0–2.0	848	$2,195	$2.59	3d	47	1.44mi
1524 Cuming St Omaha, NE	1.0–2.0	1.0–2.0	1117	$2,195	$1.96	3d	14	1.50mi

Listing history 3 events

1. 2023-09-28
   status Pending
2. 2023-09-20
   listed $69,950 New
3. 1999-09-13
   soldstatus $10,000

ⓘ 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: $1,324 · $110/mo
• Projected year-2 tax: $1,324 · $110/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,305
• − Mortgage interest: −$3,918
• − Property taxes: −$1,324
• − Insurance: −$350
• − Repairs & maintenance: −$1,384
• − Management: −$1,384
• − Depreciation: −$2,035
• Taxable income: $6,909
• Est. tax owed @ 24.0%: −$1,658
• After-tax cash flow: $5,937/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
• City population: 552,986
• Population (ZIP): 9,403

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: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: Black 40% White 29% Hispanic / Latino 17% Asian 9% Two or more races 8% Native American 2%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Ukrainian 2% Romanian 1% Portuguese 1%
• Foreign-born: 18% · Canada, India, Philippines
• Languages at home: 73% English-only · Spanish 12% Other Indo-European 6% Other Asian/Pacific 3%

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: ▼ -23.25%
• Current HPI: 220.8647
• Rent YoY: —
• Metro: —
• 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

+599.5% since first listed

3 events — show timeline

• 2023-09-28 Pending — GPRMLS
• 2023-09-20 Listed $69,950 GPRMLS
• 1999-09-13 Sold (Public Records) $10,000 Public Records

Property tax history

+16.0%/yr

Latest (2025): $1,324 · -0.5% YoY. Source: county tax records.