3701 Mckinley St Unit 41B · Omaha, NE 68112

$43,500

2 bd · 1.0 ba · 840 sqft · Manufactured public records · 75 Days on market

Built 1972 $52/sqft · 45% below area Est $78k · 45% under $639/mo HOA · 54% of rent ↓ 31% since listing

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Why this score? — see what drove the C- 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).

• ARV discount +15.0/15.0
• Cash flow +12.8/30.0
• 1% rule +10.0/10.0
• Livability +4.2/5.0
• DSCR +3.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move-in ready and full of practical space! This well-maintained 2-bedroom home offers an open feel with generously sized rooms, including a spacious kitchen, dining area, and large bathroom. Storage is a standout feature with abundant cabinetry, oversized closets, and a large pantry that provides more storage than many larger homes. Recent updates include interior and exterior paint, new carpet and pad, LVP flooring, tiled backsplash, updated fixtures, some new windows, and a newer water heater. The home also features a covered deck, carport, and a large storage shed for tools, hobbies, or extra belongings. Located in a quiet, friendly community known for being kid and pet friendly, residents appreciate the welcoming neighbors and peaceful setting while still enjoying convenient access to the interstate and nearby amenities. A comfortable, affordable home with thoughtful updates and exceptional storage.

Key facts

• Covered deck
• Oversized closets
• Spacious kitchen

Tags

• SPACIOUS KITCHEN
• LARGE BATHROOM
• ABUNDANT CABINETRY
• OVERSIZED CLOSETS
• LARGE PANTRY
• COVERED DECK

🏷️ Possibly a rental listed for sale. The $43,500 price doesn't fit this home's estimated sale value (~$78,431) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $44k.

Deal economics

• At list price, monthly cash flow is $-4 ($-48/yr) — negative.
• To cash-flow at today's rent, offer at most $43k (1.3% below list).
• Meets the 1% rule at list price ($1k rent vs $44k).
• Recommended offer: $41k (6.0% below list) — sets the bar for market timing.
• Cap rate 6.2% 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: Florence Elementary School (math 22% / reading 32%, grade F, #438 of 502 statewide, top 88%, 251 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: 60 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% 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 $301 of loan paydown is wiped out by about $1k 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 75 days — a 6% lower offer ($41k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $2k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 54% of rent.

Recommended offer $40,890 (6.0% 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 75 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
3. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 2.72% ✓
• Cap rate: 6.18%
• Cash-on-cash: -0.40%
• DSCR: 0.98
• GRM: 3.1

CMA / ARV

• ARV (median comp): $78,431
• List price: $43,500
• Delta: -44.54%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3701 Mckinley St Unit 41B	0.00mi	2/1.0	840 (0%)	12mo	$43,500	$52	90

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -15.8%
• Equity multiple: 0.43×
• Total profit: $-6,895
• Equity at exit: $6,486

10-year hold

• IRR: -5.7%
• Equity multiple: 0.62×
• Total profit: $-4,667
• Equity at exit: $3,761

Cash invested: $12,180 (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 68112

• Home prices YoY: -29.4%
• Active inventory: 60
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,184 medium
• Mortgage (P&I): −$228
• Tax est. 1.5%: −$54 /mo · $652/yr
• Insurance: −$18
• HOA: −$639
• Vacancy / Maint / Mgmt: −$249
• Net cashflow: $-4

Break-even live

Break-even rent $1,189

Max offer price $42,917

Occupancy floor 95%

Sensitivity live

Price	-10% $26	-5% $11	+0% $-4	+5% $-19	+10% $-34
Rent	-10% $-98	-5% $-51	+0% $-4	+5% $43	+10% $90
Rate	-1.0pp $18	-0.5pp $7	base $-4	+0.5pp $-15	+1.0pp $-27

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: $10,875
• Closing costs: $1,305
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3110 State St Unit 10 Omaha, NE	1.0	1.0	750	$995	$1.33	45d	1	0.73mi
3104 State St Unit 16 Omaha, NE	1.0	1.0	750	$995	$1.33	25d	1	0.74mi
3138 Weber Cir Omaha, NE	2.0	1.0	750	$1,200	$1.60	45d	1	1.22mi

HOA detail

• Monthly dues: $639 · $7,668/yr
• Likely covers: water

Listing history 13 events

1. 2026-06-01
   days on market $43,500 Active 75 DOM
2. 2026-03-27
   price $43,500 916-char remark

   Show marketing remark (916 chars)

   Move-in ready and full of practical space! This well-maintained 2-bedroom home offers an open feel with generously sized rooms, including a spacious kitchen, dining area, and large bathroom. Storage is a standout feature with abundant cabinetry, oversized closets, and a large pantry that provides more storage than many larger homes. Recent updates include interior and exterior paint, new carpet and pad, LVP flooring, tiled backsplash, updated fixtures, some new windows, and a newer water heater. The home also features a covered deck, carport, and a large storage shed for tools, hobbies, or extra belongings. Located in a quiet, friendly community known for being kid and pet friendly, residents appreciate the welcoming neighbors and peaceful setting while still enjoying convenient access to the interstate and nearby amenities. A comfortable, affordable home with thoughtful updates and exceptional storage.

3. 2026-03-27
   price $42,250 916-char remark

   Show marketing remark (916 chars)

   Move-in ready and full of practical space! This well-maintained 2-bedroom home offers an open feel with generously sized rooms, including a spacious kitchen, dining area, and large bathroom. Storage is a standout feature with abundant cabinetry, oversized closets, and a large pantry that provides more storage than many larger homes. Recent updates include interior and exterior paint, new carpet and pad, LVP flooring, tiled backsplash, updated fixtures, some new windows, and a newer water heater. The home also features a covered deck, carport, and a large storage shed for tools, hobbies, or extra belongings. Located in a quiet, friendly community known for being kid and pet friendly, residents appreciate the welcoming neighbors and peaceful setting while still enjoying convenient access to the interstate and nearby amenities. A comfortable, affordable home with thoughtful updates and exceptional storage.

4. 2026-03-17
   listed $46,000 New 916-char remark

   Show marketing remark (916 chars)

   Move-in ready and full of practical space! This well-maintained 2-bedroom home offers an open feel with generously sized rooms, including a spacious kitchen, dining area, and large bathroom. Storage is a standout feature with abundant cabinetry, oversized closets, and a large pantry that provides more storage than many larger homes. Recent updates include interior and exterior paint, new carpet and pad, LVP flooring, tiled backsplash, updated fixtures, some new windows, and a newer water heater. The home also features a covered deck, carport, and a large storage shed for tools, hobbies, or extra belongings. Located in a quiet, friendly community known for being kid and pet friendly, residents appreciate the welcoming neighbors and peaceful setting while still enjoying convenient access to the interstate and nearby amenities. A comfortable, affordable home with thoughtful updates and exceptional storage.

5. 2025-06-12
   soldstatus $43,500 Sold 400-char remark

   Show marketing remark (400 chars)

   Move-in ready and close to the interstate. Updated home with brand new carpet/pad, exterior and interior paint, tiled backsplash in kitchen and bathroom, LVP flooring, new ceiling fan/light fixtures, faucets, switches/outlets, some new windows, blinds, freshly stained covered deck and new water heater! This home also includes a carport and outdoor storage shed. Range and refrigerator stay. AMA

6. 2025-04-25
   status Pending 400-char remark

   Show marketing remark (400 chars)

   Move-in ready and close to the interstate. Updated home with brand new carpet/pad, exterior and interior paint, tiled backsplash in kitchen and bathroom, LVP flooring, new ceiling fan/light fixtures, faucets, switches/outlets, some new windows, blinds, freshly stained covered deck and new water heater! This home also includes a carport and outdoor storage shed. Range and refrigerator stay. AMA

7. 2025-04-22
   price $44,900 400-char remark

   Show marketing remark (400 chars)

   Move-in ready and close to the interstate. Updated home with brand new carpet/pad, exterior and interior paint, tiled backsplash in kitchen and bathroom, LVP flooring, new ceiling fan/light fixtures, faucets, switches/outlets, some new windows, blinds, freshly stained covered deck and new water heater! This home also includes a carport and outdoor storage shed. Range and refrigerator stay. AMA

8. 2025-04-07
   listed $49,900 New 400-char remark

   Show marketing remark (400 chars)

   Move-in ready and close to the interstate. Updated home with brand new carpet/pad, exterior and interior paint, tiled backsplash in kitchen and bathroom, LVP flooring, new ceiling fan/light fixtures, faucets, switches/outlets, some new windows, blinds, freshly stained covered deck and new water heater! This home also includes a carport and outdoor storage shed. Range and refrigerator stay. AMA

9. 2025-01-01
   historical
10. 2024-11-07
    price $49,000
11. 2024-10-07
    price $53,000
12. 2024-09-23
    price $58,000
13. 2024-09-16
    listed $63,000 New

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 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: $14,211
• − Mortgage interest: −$2,437
• − Property taxes: −$652
• − Insurance: −$218
• − Repairs & maintenance: −$1,137
• − Management: −$1,137
• − HOA: −$7,668
• − Depreciation: −$1,265
• Taxable loss: −$302
• Est. tax savings @ 24.0%: +$73
• After-tax cash flow: $24/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): 12,071
• Household income: $56,159
• Rent vs Own: 24.9% rent · 75.1% own
• Severe rent burden: 385.0

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 0.59)
• Race & ethnicity: White 59% Black 23% Two or more races 11% Hispanic / Latino 11%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Romanian 5% Lithuanian 2% Portuguese 2%
• Foreign-born: 5% · Canada
• Languages at home: 89% English-only · Spanish 9% Other Asian/Pacific 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: ▼ -105.85%
• Current HPI: 254.385
• Rent YoY: —
• 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

-31.0% since first listed

12 events — show timeline

• 2026-03-27 Price Changed $43,500 GPRMLS
• 2026-03-27 Price Changed $42,250 GPRMLS
• 2026-03-17 Listed $46,000 GPRMLS
• 2025-06-12 Sold (MLS) $43,500 GPRMLS
• 2025-04-25 Pending — GPRMLS
• 2025-04-22 Price Changed $44,900 GPRMLS
• 2025-04-07 Listed $49,900 GPRMLS
• 2025-01-01 Listing Removed — GPRMLS
• 2024-11-07 Price Changed $49,000 GPRMLS
• 2024-10-07 Price Changed $53,000 GPRMLS
• 2024-09-23 Price Changed $58,000 GPRMLS
• 2024-09-16 Listed $63,000 GPRMLS

Property tax history

+1.0%/yr

Latest (2017): $65 · +1.3% YoY. Source: county tax records.