2321 N 45 St · Omaha, NE 68104

$195,000

3 bd · 2.0 ba · 1,442 sqft · Other public records · 118 Days on market

Built 1900 4,792 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).

• Cash flow +15.2/30.0
• ARV discount +7.5/15.0
• DSCR +4.7/10.0
• Livability +4.2/5.0
• 1% rule +3.3/10.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Step into this stunningly remodeled 1.5 story residence in Omaha’s Clifton Hill subdivision. This 4-bedroom, 2-full bath home offers 1,642 total finished square feet of modern living space. Every detail has been updated, including a new AC, new electrical panel, new plumbing, and a new water heater. The interior features brand-new luxury vinyl plank flooring and LED lighting throughout for a bright, contemporary feel. The kitchen is fully equipped with stainless steel appliances, while most windows throughout the home have been replaced. Both bathrooms are completely new, showcasing elegant tiled surrounds. The main floor hosts the primary bedroom and a second bedroom, while two additional spacious bedrooms are located on the second level. A partially finished walk-out basement includes a spacious laundry area. Relax on the covered front deck overlooking your corner lot with convenient off-street parking. This move-in-ready gem is a must-see!

Key facts

• New plumbing
• New water heater
• New electrical panel

Tags

• REMODELED RESIDENCE
• NEW AC
• NEW ELECTRICAL PANEL
• NEW PLUMBING
• NEW WATER HEATER
• LUXURY VINYL PLANK FLOORING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $195k.

Deal economics

• At list price, monthly cash flow is $67 ($800/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $163k (16.5% below list).
• Recommended offer: $163k (16.5% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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.
• Market conditions: Rents rising (+2.4%/yr); 172 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 4,539 units permitted in Douglas County in 2024 (2,583 in 5+ unit buildings).
• This rent runs 32% of the median local income ($61k/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 $6k 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.

Negotiation context

• It's been on market 118 days — a 9% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 24y ago; this cycle's ask has dropped $20k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $95k; list at $195k implies a 105% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $162,734 (16.5% below list)

Questions for the listing agent

1. It's been on market 118 days. Have you received any prior offers? Is the seller open to a 17% 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. 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. 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?
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: 0.83% ✗
• Cap rate: 6.70%
• Cash-on-cash: 1.46%
• DSCR: 1.07
• GRM: 10.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.35% rent growth · sell at horizon

5-year hold

• IRR: -14.7%
• Equity multiple: 0.48×
• Total profit: $-28,466
• Equity at exit: $29,075

10-year hold

• IRR: -7.0%
• Equity multiple: 0.56×
• Total profit: $-23,826
• Equity at exit: $16,860

Cash invested: $54,600 (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 68104

• Rents YoY: 2.4%
• Active inventory: 172
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,627 high
• Mortgage (P&I): −$1,023
• Tax from tax record: −$115 /mo · $1,381/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$342
• Net cashflow: $67

Break-even live

Break-even rent $1,543

Max offer price $195,000

Occupancy floor 91%

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4276 Binney St Omaha, NE	4.0	1.0	1358	$1,495	$1.10	44d	1	0.39mi
4874 Maple St Omaha, NE	3.0	1.0	1098	$1,545	$1.41	44d	1	0.54mi
3002 N 48th Ave Omaha, NE	4.0	2.0	1205	$1,550	$1.29	24d	1	0.56mi
2914 N 49th Ave Omaha, NE	3.0	1.0	1375	$1,615	$1.17	24d	1	0.62mi
1306 N 48th Ave Unit 1313258 Omaha, NE	2.0	1.0	994	$875	$0.88	3d	1	0.69mi
3323 N 40th St Omaha, NE	2.0	1.0	1000	$1,575	$1.57	3d	1	0.77mi
3508 N 47th Ave Omaha, NE	3.0	1.0	1425	$1,600	$1.12	19d	1	0.78mi
3502 Lake St Omaha, NE	2.0	1.0	974	$995	$1.02	3d	1	0.78mi
3535 N 45th Ave Omaha, NE	3.0	1.0	1325	$1,800	$1.36	44d	1	0.81mi
1112 N 50th Ave Omaha, NE	2.0	1.0	1200	$1,450	$1.21	14d	1	0.82mi
915 N 48th Ave Apt 15 Omaha, NE	2.0	1.0	950	$990	$1.04	44d	1	0.84mi
4201 Cuming St Omaha, NE	2.0	1.0	1272	$1,350	$1.06	3d	1	0.87mi
828 N 41st Ave Omaha, NE	2.0	1.0	1264	$1,700	$1.34	14d	1	0.90mi
3430 Seward St Omaha, NE	3.0	1.0	1371	$1,695	$1.24	14d	1	0.92mi
1004 Glenwood Ave Unit 2 Omaha, NE	3.0	1.5	1000	$1,500	$1.50	3d	1	0.96mi
3314 Franklin St Omaha, NE	4.0	2.0	1635	$1,600	$0.98	44d	1	0.99mi
3808 N 48th St Omaha, NE	3.0	2.0	1400	$2,000	$1.43	3d	1	0.99mi
4806 Webster St Omaha, NE	3.0	2.5	1589	$2,295	$1.44	3d	1	1.01mi
4824 Webster St Unit 4824/4824 Omaha, NE	4.0	1.0	1317	$1,050	$0.80	44d	1	1.02mi
5119 Pratt St Omaha, NE	3.0	1.0	1008	$1,900	$1.88	44d	1	1.10mi
5633 Parker St Omaha, NE	3.0	1.5	1200	$1,695	$1.41	44d	1	1.14mi
5610 Seward St Omaha, NE	4.0	2.0	1682	$2,200	$1.31	44d	1	1.14mi
4903 Underwood Ave Unit 11 Omaha, NE	2.0	1.0	950	$1,300	$1.37	44d	1	1.14mi
3204 N 56th St Omaha, NE	3.0	2.0	1800	$1,700	$0.94	10d	1	1.18mi
4918 California St Omaha, NE	3.0	1.0	1369	$1,695	$1.24	24d	1	1.19mi
5016 California St #12 Omaha, NE	2.0	2.0	1084	$1,600	$1.48	24d	1	1.24mi
1407 N 31st St Omaha, NE	2.0	1.0	1040	$1,395	$1.34	3d	1	1.26mi
406 N 49th St Unit 5 Omaha, NE	2.0	2.0	1000	$1,199	$1.20	24d	1	1.28mi
4817 Chicago St Unit 11 Omaha, NE	2.0	1.0	1250	$1,195	$0.96	44d	1	1.30mi
4852 Boyd St Omaha, NE	2.0	2.0	912	$1,500	$1.64	44d	1	1.31mi
2817 N 60th St Unit 2821/02 Omaha, NE	3.0	1.0	1188	$1,045	$0.88	24d	1	1.31mi
4903 Chicago St Omaha, NE	1.0–2.0	1.0–2.0	1100	$1,250	$1.14	21d	1	1.32mi
2817 N 60th St Unit 2817/02 Omaha, NE	3.0	1.0	1188	$1,500	$1.26	3d	1	1.32mi
201 N 46th St Omaha, NE	2.0	1.0–2.0	825	$1,895	$2.30	3d	40	1.36mi
140 N 41st St Omaha, NE	3.0	2.5	1640	$2,495	$1.52	44d	1	1.37mi
303 N 38th St Omaha, NE	4.0	1.5	1472	$1,995	$1.36	24d	1	1.38mi
120 N 40th St Omaha, NE	3.0	1.0	1264	$1,745	$1.38	24d	1	1.39mi
5833 Lafayette Ave Unit 5833 Omaha, NE	2.0	1.0	900	$1,295	$1.44	24d	1	1.40mi
6020 Franklin St Omaha, NE	3.0	1.5	1216	$1,900	$1.56	44d	1	1.41mi
4647 Dodge St Omaha, NE	2.0	1.0–2.0	775	$2,850	$3.68	24d	32	1.44mi

Listing history 18 events

1. 2026-06-07
   days on market $195,000 Active 118 DOM
2. 2026-06-03
   days on market $195,000 Active 114 DOM
3. 2026-06-03
   days on market $195,000 Active 113 DOM
4. 2026-06-01
   days on market $195,000 Active 112 DOM
5. 2026-06-01
   days on market $195,000 Active 111 DOM
6. 2026-05-09
   price $195,000 962-char remark

   Show marketing remark (962 chars)

   Step into this stunningly remodeled 1.5 story residence in Omaha’s Clifton Hill subdivision. This 4-bedroom, 2-full bath home offers 1,642 total finished square feet of modern living space. Every detail has been updated, including a new AC, new electrical panel, new plumbing, and a new water heater. The interior features brand-new luxury vinyl plank flooring and LED lighting throughout for a bright, contemporary feel. The kitchen is fully equipped with stainless steel appliances, while most windows throughout the home have been replaced. Both bathrooms are completely new, showcasing elegant tiled surrounds. The main floor hosts the primary bedroom and a second bedroom, while two additional spacious bedrooms are located on the second level. A partially finished walk-out basement includes a spacious laundry area. Relax on the covered front deck overlooking your corner lot with convenient off-street parking. This move-in-ready gem is a must-see!

7. 2026-03-14
   price $210,000 962-char remark

   Show marketing remark (962 chars)

   Step into this stunningly remodeled 1.5 story residence in Omaha’s Clifton Hill subdivision. This 4-bedroom, 2-full bath home offers 1,642 total finished square feet of modern living space. Every detail has been updated, including a new AC, new electrical panel, new plumbing, and a new water heater. The interior features brand-new luxury vinyl plank flooring and LED lighting throughout for a bright, contemporary feel. The kitchen is fully equipped with stainless steel appliances, while most windows throughout the home have been replaced. Both bathrooms are completely new, showcasing elegant tiled surrounds. The main floor hosts the primary bedroom and a second bedroom, while two additional spacious bedrooms are located on the second level. A partially finished walk-out basement includes a spacious laundry area. Relax on the covered front deck overlooking your corner lot with convenient off-street parking. This move-in-ready gem is a must-see!

8. 2026-03-04
   status Back On Market 962-char remark

   Show marketing remark (962 chars)

   Step into this stunningly remodeled 1.5 story residence in Omaha’s Clifton Hill subdivision. This 4-bedroom, 2-full bath home offers 1,642 total finished square feet of modern living space. Every detail has been updated, including a new AC, new electrical panel, new plumbing, and a new water heater. The interior features brand-new luxury vinyl plank flooring and LED lighting throughout for a bright, contemporary feel. The kitchen is fully equipped with stainless steel appliances, while most windows throughout the home have been replaced. Both bathrooms are completely new, showcasing elegant tiled surrounds. The main floor hosts the primary bedroom and a second bedroom, while two additional spacious bedrooms are located on the second level. A partially finished walk-out basement includes a spacious laundry area. Relax on the covered front deck overlooking your corner lot with convenient off-street parking. This move-in-ready gem is a must-see!

9. 2026-02-26
   status Pending 962-char remark

   Show marketing remark (962 chars)

   Step into this stunningly remodeled 1.5 story residence in Omaha’s Clifton Hill subdivision. This 4-bedroom, 2-full bath home offers 1,642 total finished square feet of modern living space. Every detail has been updated, including a new AC, new electrical panel, new plumbing, and a new water heater. The interior features brand-new luxury vinyl plank flooring and LED lighting throughout for a bright, contemporary feel. The kitchen is fully equipped with stainless steel appliances, while most windows throughout the home have been replaced. Both bathrooms are completely new, showcasing elegant tiled surrounds. The main floor hosts the primary bedroom and a second bedroom, while two additional spacious bedrooms are located on the second level. A partially finished walk-out basement includes a spacious laundry area. Relax on the covered front deck overlooking your corner lot with convenient off-street parking. This move-in-ready gem is a must-see!

10. 2026-02-04
    listed $215,000 New 962-char remark

    Show marketing remark (962 chars)

    Step into this stunningly remodeled 1.5 story residence in Omaha’s Clifton Hill subdivision. This 4-bedroom, 2-full bath home offers 1,642 total finished square feet of modern living space. Every detail has been updated, including a new AC, new electrical panel, new plumbing, and a new water heater. The interior features brand-new luxury vinyl plank flooring and LED lighting throughout for a bright, contemporary feel. The kitchen is fully equipped with stainless steel appliances, while most windows throughout the home have been replaced. Both bathrooms are completely new, showcasing elegant tiled surrounds. The main floor hosts the primary bedroom and a second bedroom, while two additional spacious bedrooms are located on the second level. A partially finished walk-out basement includes a spacious laundry area. Relax on the covered front deck overlooking your corner lot with convenient off-street parking. This move-in-ready gem is a must-see!

11. 2025-04-01
    soldstatus $95,000
12. 2025-03-28
    soldstatus $95,000 Sold 367-char remark

    Show marketing remark (367 chars)

    Calling all Investors / First-time buyers. Check out this wonderful Investor Special!!! This 1 1/2 story home is just waiting for the right owner to put in some sweat equity and have this gem shining again. Will make a great rental property or first-time home. Property is SOLD in "AS-IS " CONDITION WITH NO WARRANTIES IMPLIED, EXPRESSED OR ASSUMED. AMA.

13. 2025-03-08
    status Pending 367-char remark

    Show marketing remark (367 chars)

    Calling all Investors / First-time buyers. Check out this wonderful Investor Special!!! This 1 1/2 story home is just waiting for the right owner to put in some sweat equity and have this gem shining again. Will make a great rental property or first-time home. Property is SOLD in "AS-IS " CONDITION WITH NO WARRANTIES IMPLIED, EXPRESSED OR ASSUMED. AMA.

14. 2025-03-02
    listed $99,500 New 367-char remark

    Show marketing remark (367 chars)

    Calling all Investors / First-time buyers. Check out this wonderful Investor Special!!! This 1 1/2 story home is just waiting for the right owner to put in some sweat equity and have this gem shining again. Will make a great rental property or first-time home. Property is SOLD in "AS-IS " CONDITION WITH NO WARRANTIES IMPLIED, EXPRESSED OR ASSUMED. AMA.

15. 2002-12-02
    soldstatus $25,000
16. 2002-12-02
    soldstatus $25,000
17. 2002-11-19
    historical
18. 2002-10-16
    listed $40,000

ⓘ 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: $1,381 · $115/mo
• Projected year-2 tax: $3,374 · $281/mo
• Expected delta: +$1,992/yr (+$166/mo · 144.2%)

ⓘ 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 ≥104°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: $19,528
• − Mortgage interest: −$10,923
• − Property taxes: −$1,381
• − Insurance: −$975
• − Repairs & maintenance: −$1,562
• − Management: −$1,562
• − Depreciation: −$5,673
• Taxable loss: −$2,548
• Est. tax savings @ 24.0%: +$612
• After-tax cash flow: $1,411/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): 36,673
• Household income: $60,549
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 1738.0

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 0.68)
• Race & ethnicity: White 50% Black 23% Asian 12% Two or more races 11% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Slovak 2% Lithuanian 2% Romanian 2%
• Foreign-born: 13% · Philippines, Canada, India
• Languages at home: 83% English-only · Other Asian/Pacific 8% Spanish 5% Other Indo-European 2%

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: ▼ -196.54%
• Current HPI: 298.8625
• Rent YoY: ▲ 2.35%
• 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

+387.5% since first listed

13 events — show timeline

• 2026-05-09 Price Changed $195,000 GPRMLS
• 2026-03-14 Price Changed $210,000 GPRMLS
• 2026-03-04 Relisted — GPRMLS
• 2026-02-26 Pending — GPRMLS
• 2026-02-04 Listed $215,000 GPRMLS
• 2025-04-01 Sold (Public Records) $95,000 Public Records
• 2025-03-28 Sold (MLS) $95,000 GPRMLS
• 2025-03-08 Pending — GPRMLS
• 2025-03-02 Listed $99,500 GPRMLS
• 2002-12-02 Sold (Public Records) $25,000 Public Records
• 2002-12-02 Sold (MLS) $25,000 GPRMLS
• 2002-11-19 Listing Removed — GPRMLS
• 2002-10-16 Listed $40,000 GPRMLS

Property tax history

+2.3%/yr

Latest (2025): $1,381 · +2.2% YoY. Source: county tax records.