3331 N 40th Ave · Omaha, NE 68111

$159,900

2 bd · 1.0 ba · 1,536 sqft · SingleFamily public records · 12 Days on market

Built 1957 5,360 sqft lot Est $194k · 17% under

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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 +20.4/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +6.5/10.0
• 1% rule +5.1/10.0
• Livability +4.2/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0

Listing remarks MLS

All brick ranch with 2 bedrooms, 2 baths and 1 car attached garage. Partially finished basement. Fenced yard. Sq Ft per County Records. AMA. Property is being sold subject to 24 CFR 206.125".

Key facts

• Attached garage
• Easy-to-maintain lot
• Full basement

Tags

• SOLID BRICK RANCH
• HARDWOOD FLOORS
• FULL BASEMENT
• ATTACHED GARAGE
• EASY-TO-MAINTAIN LOT
• CONVENIENTLY LOCATED

Property features AI

Exterior

• Parking: Attached garage (1 covered space)
• Utilities: Public water; Public sewer
• Home design: Single family residence; Residential property; Not new; One-story entry with main-floor primary bedroom; Built in 1957
• Construction: Frame construction; Composition roof; Block foundation; Below-grade finished area present
• Exterior features: Front porch; Full yard fencing; Lot up to 1/4 acre (approx. 0.12 acre); Lot dimensions approximately 40 x 134

Interior

• Bedrooms: Master bedroom on main floor; Additional bedrooms on main floor
• Bathrooms: 2 total bathrooms (1 full, 1 half); Main level has a full bathroom
• Heating & cooling: Natural gas forced air heating; Central air conditioning
• Interior features: Partially finished basement; No fireplaces

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $209 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Cap rate 7.9% 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: Druid Hill Elementary School (math 12% / reading 12%, grade F, #489 of 502 statewide, top 98%, 279 students, 0% FRL); Monroe Middle School (math 8% / reading 15%, grade F, #127 of 128 statewide, top 99%, 769 students, 0% FRL); Benson High School (math 9% / reading 12%, grade F, #257 of 261 statewide, top 98%, 1,570 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.
• Zoned-school proficiency averages 11% at this address vs 24% district-wide (-13 pts) — the specific schools serving this property underperform the Omaha Public Schools average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+3.2%/yr); 140 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 4,539 units permitted in Douglas County in 2024 (2,583 in 5+ unit buildings).
• At $1,622/mo this rent would consume 46% of the median local household income ($42k/yr) (locally 1913% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $17k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• Douglas County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.2% rent growth), your $45k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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 1957 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $159,900

Questions for the listing agent

1. Built in 1957 — 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: 1.01% ✓
• Cap rate: 7.86%
• Cash-on-cash: 5.60%
• DSCR: 1.25
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $193,536
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4234 Pinkney St	0.23mi	3/2.0 (+1)	1,625 (+6%)	5mo	$192,500	$118	66
3713 N 34 Ave	0.55mi	3/2.0 (+1)	1,530 (-0%)	5mo	$169,000	$110	61
4134 Corby St	0.40mi	3/2.0 (+1)	1,436 (-6%)	3mo	$175,000	$122	59
3420 N 42nd St	0.16mi	3/3.0 (+1)	1,704 (+11%)	3mo	$175,000	$103	59
4121 Maple St	0.36mi	3/1.0 (+1)	1,339 (-13%)	0mo	$148,500	$111	56
4221 Lake St	0.61mi	3/1.5 (+1)	1,463 (-5%)	0mo	$225,000	$154	56
4209 Lake St	0.60mi	3/2.5 (+1)	1,526 (-1%)	5mo	$212,500	$139	55
4005 Ohio St	0.52mi	3/2.0 (+1)	1,463 (-5%)	6mo	$185,000	$126	54
2269 N 38 Ave	0.66mi	3/2.0 (+1)	1,597 (+4%)	2mo	$235,000	$147	52
2403 John A Creighton Blvd	0.68mi	3/2.0 (+1)	1,597 (+4%)	4mo	$235,000	$147	49
2230 N 39th St	0.72mi	3/2.0 (+1)	1,597 (+4%)	3mo	$239,500	$150	49
2430 Fontenelle Blvd	0.74mi	3/1.0 (+1)	1,681 (+9%)	1mo	$113,000	$67	44

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 28.4%
• Equity multiple: 3.25×
• Total profit: $100,766
• Equity at exit: $144,051

10-year hold

• IRR: 24.8%
• Equity multiple: 7.41×
• Total profit: $287,013
• Equity at exit: $310,651

Cash invested: $44,772 (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: 8.2×

Monthly cashflow live

• Estimated rent: $1,622 high
• Mortgage (P&I): −$839
• Tax from tax record: −$167 /mo · $2,003/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$341
• Net cashflow: $209

Break-even live

Break-even rent $1,357

Max offer price $159,900

Occupancy floor 82%

Sensitivity live

Price	-10% $300	-5% $254	+0% $209	+5% $164	+10% $119
Rent	-10% $81	-5% $145	+0% $209	+5% $273	+10% $337
Rate	-1.0pp $290	-0.5pp $250	base $209	+0.5pp $168	+1.0pp $125

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3535 N 45th Ave Omaha, NE	3.0	1.0	1325	$1,800	$1.36	45d	1	0.46mi
3508 N 47th Ave Omaha, NE	3.0	1.0	1425	$1,600	$1.12	20d	1	0.61mi
3808 N 48th St Omaha, NE	3.0	2.0	1400	$2,000	$1.43	4d	1	0.71mi
4707 N 40th Ave Omaha, NE	3.0	1.0	1337	$1,500	$1.12	22d	1	0.81mi
4874 Maple St Omaha, NE	3.0	1.0	1098	$1,545	$1.41	45d	1	0.83mi
2914 N 49th Ave Omaha, NE	3.0	1.0	1375	$1,615	$1.17	25d	1	0.90mi
5011 Miami St Omaha, NE	3.0	3.0	2180	$2,200	$1.01	45d	1	1.05mi
4918 Ames Ave Unit 17 Omaha, NE	2.0	1.5	1074	$850	$0.79	25d	1	1.06mi
3430 Seward St Omaha, NE	3.0	1.0	1371	$1,695	$1.24	15d	1	1.20mi
4657 Camden Ave Omaha, NE	3.0	1.0	1250	$1,500	$1.20	45d	1	1.25mi
4114 N 54th St Omaha, NE	3.0	2.0	1683	$1,745	$1.04	4d	1	1.36mi
3204 N 56th St Omaha, NE	3.0	2.0	1800	$1,700	$0.94	11d	1	1.42mi

Listing history 8 events

1. 2026-06-21
   days on market $159,900 Active 12 DOM
2. 2026-06-18
   days on market $159,900 Active 9 DOM
3. 2026-06-17
   days on market $159,900 Active 8 DOM
4. 2026-06-16
   days on market $159,900 Active 7 DOM
5. 2026-06-15
   statusdays on market $159,900 Active 6 DOM
6. 2026-06-13
   days on market $159,900 New 4 DOM
7. 2026-06-10
   remarks 683-char remark
8. 2026-06-10
   listed $159,900 New 1 DOM

ⓘ 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: $2,003 · $167/mo
• Projected year-2 tax: $2,766 · $231/mo
• Expected delta: +$763/yr (+$64/mo · 38.1%)

ⓘ 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: $19,461
• − Mortgage interest: −$8,957
• − Property taxes: −$2,003
• − Insurance: −$800
• − Repairs & maintenance: −$1,557
• − Management: −$1,557
• − Depreciation: −$4,652
• Taxable loss: −$64
• Est. tax savings @ 24.0%: +$15
• After-tax cash flow: $2,524/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

+481.5% since first listed

8 events — show timeline

• 2026-06-08 Listed $159,900 GPRMLS
• 2021-04-14 Sold (Public Records) $465,000 Public Records
• 2018-07-27 Listing Removed — GPRMLS
• 2018-06-14 Listed $30,000 GPRMLS
• 2012-02-10 Sold (MLS) $22,000 GPRMLS
• 2011-12-12 Listing Removed — GPRMLS
• 2011-11-08 Listed $22,000 GPRMLS
• 1998-05-23 Sold (Public Records) $27,500 Public Records

Property tax history

+5.2%/yr

Latest (2025): $2,003 · -1.4% YoY. Source: county tax records.