2901 N 65th St · Lincoln, NE 68507

$280,000

4 bd · 3.0 ba · 2,024 sqft · MultiFamily public records · 73 Days on market

Built 1957 6,970 sqft lot $138/sqft · 37% above area Est $277k · 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 +17.5/30.0
• ARV discount +7.0/15.0
• DSCR +5.5/10.0
• Schools +4.4/10.0
• 1% rule +4.3/10.0
• Livability +4.2/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Great income producing 1 story duplex. Nestled in a great neighborhood. Two units - 2901 is 2 beds and 2 bath with a basement and 2903 is 2 beds 1 bath with a basement. Detached two car garage. Property is being sold as is. Schedule your showing today!

Key facts

• 6,970 sq ft lot
• 2 garage spots
• Built 1957

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $280k.

Deal economics

• At list price, monthly cash flow is $215 ($3k/yr) — positive. Per door: $107/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $261k (6.9% below list).
• Recommended offer: $261k (6.9% below list) — sets the bar for 1% rule.
• Cap rate 7.2% vs local median 3.0% in Lincoln — 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 85/100 on livability (#5 in NE, #545 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: crime D+.
• Lincoln Public Schools (urban): math 50% / reading 53% proficiency, ranked #59 of 111 in NE (top 53%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+2.4%/yr); 100 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,940 units permitted in Lancaster County in 2024 (895 in 5+ unit buildings).
• At $2,607/mo this rent would consume 45% of the median local household income ($69k/yr) (locally 557% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Lancaster County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($263k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y 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.
• Current owner paid $128k; list at $280k implies a 119% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $260,700 (6.9% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
8. Crime grade is D 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?
9. 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?
10. 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.
11. 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.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.93% ✗
• Cap rate: 7.21%
• Cash-on-cash: 3.29%
• DSCR: 1.15
• GRM: 9.0

CMA / ARV

• ARV (median comp): $277,039
• List price: $280,000
• Delta: 1.07%
• Verdict: FAIR
• Comps: 4 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2922 N Cotner Blvd	0.10mi	4/2.0	1,802 (-11%)	6mo	$225,000	$125	69
2916 N Cotner Blvd	0.10mi	4/1.0	1,802 (-11%)	6mo	$225,000	$125	65
2940 & 2942 N 60th St	0.36mi	4/2.0	2,240 (+11%)	19mo	$277,500	$124	46

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 · 2.37% rent growth · sell at horizon

5-year hold

• IRR: -11.8%
• Equity multiple: 0.57×
• Total profit: $-33,360
• Equity at exit: $41,749

10-year hold

• IRR: -3.6%
• Equity multiple: 0.77×
• Total profit: $-18,166
• Equity at exit: $24,209

Cash invested: $78,400 (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 68507

• Rents YoY: 2.4%
• Active inventory: 100
• Price-to-rent: 17.9×

Monthly cashflow live

• Estimated rent: $2,607 high
• Mortgage (P&I): −$1,468
• Tax from tax record: −$260 /mo · $3,119/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$547
• Net cashflow: $215

Break-even live

Break-even rent $2,335

Max offer price $280,000

Occupancy floor 87%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$2,608
Total (2 units)			$2,607

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: $70,000
• Closing costs: $8,400
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2840 N Cotner Blvd Unit 1 Lincoln, NE	3.0	1.0	1450	$1,425	$0.98	43d	1	0.10mi
2228 Mirwyn Ct Lincoln, NE	3.0	3.0	1748	$2,200	$1.26	43d	1	0.47mi
2210 Mirwyn Ct Lincoln, NE	3.0	3.0	1748	$2,000	$1.14	13d	1	0.48mi
4842 Adams St Unit 2 Lincoln, NE	4.0	2.5	1764	$2,095	$1.19	43d	1	1.09mi
1025 N 63rd St Lincoln, NE	1.0–3.0	1.0–2.0	1157	$1,590	$1.37	13d	7	1.18mi
4525 N 70th St Lincoln, NE	4.0	2.0	2064	$1,850	$0.90	21d	1	1.28mi
1648 Sawyer St Lincoln, NE	3.0	2.5	1547	$1,899	$1.23	43d	1	1.42mi

Listing history 24 events

1. 2026-06-18
   days on market $280,000 Active 73 DOM
2. 2026-06-17
   days on market $280,000 Active 72 DOM
3. 2026-06-16
   days on market $280,000 Active 71 DOM
4. 2026-06-15
   days on market $280,000 Active 70 DOM
5. 2026-06-14
   days on market $280,000 Active 68 DOM
6. 2026-06-10
   days on market $280,000 Active 65 DOM
7. 2026-06-09
   days on market $280,000 Active 64 DOM
8. 2026-06-08
   days on market $280,000 Active 63 DOM
9. 2026-06-07
   days on market $280,000 Active 62 DOM
10. 2026-06-05
    days on market $280,000 Active 59 DOM
11. 2026-06-03
    days on market $280,000 Active 58 DOM
12. 2026-06-02
    days on market $280,000 Active 57 DOM
13. 2026-06-01
    days on market $280,000 Active 56 DOM
14. 2026-05-31
    days on market $280,000 Active 55 DOM
15. 2026-05-30
    days on market $280,000 Active 54 DOM
16. 2026-04-06
    listed $280,000 New 253-char remark

    Show marketing remark (253 chars)

    Great income producing 1 story duplex. Nestled in a great neighborhood. Two units - 2901 is 2 beds and 2 bath with a basement and 2903 is 2 beds 1 bath with a basement. Detached two car garage. Property is being sold as is. Schedule your showing today!

17. 2026-04-06
    historical

    Show marketing remark (253 chars)

    Great income producing 1 story duplex. Nestled in a great neighborhood. Two units - 2901 is 2 beds and 2 bath with a basement and 2903 is 2 beds 1 bath with a basement. Detached two car garage. Property is being sold as is. Schedule your showing today!

18. 2026-03-23
    listed $290,000 New
19. 2015-05-04
    soldstatus $128,000
20. 2015-04-30
    soldstatus $127,500
21. 2015-03-16
    historical
22. 2015-03-10
    listed $129,500
23. 2010-12-06
    soldstatus $125,000
24. 2003-11-14
    soldstatus $126,000

ⓘ 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: $3,119 · $260/mo
• Projected year-2 tax: $4,844 · $404/mo
• Expected delta: +$1,725/yr (+$144/mo · 55.3%)

ⓘ 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 ≥104°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: $31,284
• − Mortgage interest: −$15,684
• − Property taxes: −$3,119
• − Insurance: −$1,400
• − Repairs & maintenance: −$2,503
• − Management: −$2,503
• − Depreciation: −$8,145
• Taxable loss: −$2,070
• Est. tax savings @ 24.0%: +$497
• After-tax cash flow: $3,072/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: Lincoln Public Schools
• NCES district ID: 3172840
• Math proficiency: 50% ▼ -6.00%
• Reading proficiency: 53% ▼ -3.00%
• Median HH income: $50,273
• Composite: 44.05/100
• National rank: #2880
• State rank: #59 of 111 in NE

Livability — Lincoln

• Score: 85/100
• State rank: #5
• US rank: #545

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lincoln, NE
• County: Lancaster County · 291,509 people
• City population: 291,509
• Metro: Lincoln, NE
• Population (ZIP): 16,029
• Household income: $69,488
• Rent vs Own: 33.5% rent · 66.5% own
• Severe rent burden: 557.0

Population outlook (Lancaster County) Hauer SSP2

• Today (2025): 352,806 people
• By 2030: 377,899 · +7.1%
• By 2040: 428,582 · +21.5%
• By 2050: 483,103 · +36.9%
• By 2075: 632,390 · +79.2%
• By 2100: 759,513 · +115.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 10% Hispanic / Latino 9% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 2% Romanian 2% Lithuanian 2%
• Foreign-born: 4% · Canada, China, Vietnam
• Languages at home: 94% English-only · Spanish 4% Vietnamese 1% Arabic 1%

Political lean MEDSL · Lancaster

• 2024 margin: Toss-up / Even · D 51.4% · R 47.1% · Other 1.5%
• 2008→2024 swing: -0.7pp no change · 2008: 5.0pp · 2024: 4.3pp
• All cycles: 2024: D+4.3 2020: D+7.8 2016: D+0.1 2012: R+1.0 2008: D+5.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -273.66%
• Current HPI: 234.3628
• Rent YoY: ▲ 2.37%
• Metro: Lincoln, NE
• 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

+122.2% since first listed

9 events — show timeline

• 2026-04-06 Listing Removed — GPRMLS
• 2026-04-06 Listed $280,000 GPRMLS
• 2026-03-23 Listed $290,000 GPRMLS
• 2015-05-04 Sold (Public Records) $128,000 Public Records
• 2015-04-30 Sold (MLS) $127,500 GPRMLS
• 2015-03-16 Listing Removed — GPRMLS
• 2015-03-10 Listed $129,500 GPRMLS
• 2010-12-06 Sold (Public Records) $125,000 Public Records
• 2003-11-14 Sold (Public Records) $126,000 Public Records

Property tax history

+2.3%/yr

Latest (2025): $3,119 · +20.1% YoY. Source: county tax records.