3239 Ohio St · Omaha, NE 68111

$165,000

3 bd · 2.0 ba · 1,959 sqft · Other public records · 178 Days on market

Built 1905 6,098 sqft lot $84/sqft · 41% below area Est $205k · 20% 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 +20.6/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +6.5/10.0
• 1% rule +5.3/10.0
• 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

This home has a ton of potential. Spacious enclosed front porch, large living room, formal dining and eat in kitchen. Main floor also features the primary bedroom and bath. Upper level consists of two additional bedrooms and a full bath. This property sits on an oversized corner lot homesite located close to schools, shopping and restaurants with easy access to many attractions.

Key facts

• Oversized corner lot
• Formal dining
• Eat in kitchen

Tags

• ENCLOSED FRONT PORCH
• LARGE LIVING ROOM
• FORMAL DINING
• EAT IN KITCHEN
• OVERSIZED CORNER LOT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $165k.

Deal economics

• At list price, monthly cash flow is $220 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $145k (12.0% below list) — sets the bar for market timing.
• 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: Kennedy Elementary School (math 17% / reading 17%, grade F, #471 of 502 statewide, top 95%, 234 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.
• Market conditions: Rents rising (+3.2%/yr); 140 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 4,539 units permitted in Douglas County in 2024 (2,583 in 5+ unit buildings).
• At $1,699/mo this rent would consume 48% 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 $18k 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 $46k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 178 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $145,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 178 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1905 — 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. 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.
7. 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.
8. 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: 1.03% ✓
• Cap rate: 7.89%
• Cash-on-cash: 5.72%
• DSCR: 1.25
• GRM: 8.1

CMA / ARV

• ARV (median comp): $205,122
• List price: $165,000
• Delta: -19.56%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 28.5%
• Equity multiple: 3.26×
• Total profit: $104,276
• Equity at exit: $148,645

10-year hold

• IRR: 24.9%
• Equity multiple: 7.43×
• Total profit: $296,849
• Equity at exit: $320,559

Cash invested: $46,200 (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: 8.1×

Monthly cashflow live

• Estimated rent: $1,699 high
• Mortgage (P&I): −$865
• Tax from tax record: −$188 /mo · $2,256/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$357
• Net cashflow: $220

Break-even live

Break-even rent $1,420

Max offer price $165,000

Occupancy floor 82%

Sensitivity live

Price	-10% $314	-5% $267	+0% $220	+5% $173	+10% $127
Rent	-10% $86	-5% $153	+0% $220	+5% $287	+10% $354
Rate	-1.0pp $303	-0.5pp $262	base $220	+0.5pp $177	+1.0pp $134

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3314 Franklin St Omaha, NE	4.0	2.0	1635	$1,600	$0.98	45d	1	0.50mi
3430 Seward St Omaha, NE	3.0	1.0	1371	$1,695	$1.24	16d	1	0.58mi
4276 Binney St Omaha, NE	4.0	1.0	1358	$1,495	$1.10	45d	1	0.93mi
1820 Miami St Omaha, NE	4.0	1.5	1306	$1,050	$0.80	45d	1	1.08mi
612 N 33rd St Omaha, NE	3.0	2.0	2370	$1,650	$0.70	16d	1	1.16mi
2929 California St Omaha, NE	1.0–4.0	1.0–3.0	1280	$2,615	$2.04	4d	118	1.20mi
828 N 41st Ave Omaha, NE	2.0	1.0	1264	$1,700	$1.34	16d	1	1.26mi
3535 N 45th Ave Omaha, NE	3.0	1.0	1325	$1,800	$1.36	45d	1	1.26mi
4201 Cuming St Omaha, NE	2.0	1.0	1272	$1,350	$1.06	4d	1	1.27mi
4201 N 22nd St Omaha, NE	3.0	1.0	1380	$1,545	$1.12	45d	1	1.36mi
3508 N 47th Ave Omaha, NE	3.0	1.0	1425	$1,600	$1.12	20d	1	1.37mi
303 N 38th St Omaha, NE	4.0	1.5	1472	$1,995	$1.36	25d	1	1.45mi
4125 N 19th St Omaha, NE	3.0	1.0	1266	$1,532	$1.21	45d	1	1.47mi
2416 Fowler Ave Omaha, NE	4.0	2.0	2169	$1,950	$0.90	16d	1	1.48mi
2914 N 49th Ave Omaha, NE	3.0	1.0	1375	$1,615	$1.17	25d	1	1.49mi

Listing history 14 events

1. 2026-06-18
   days on market $165,000 Active 178 DOM
2. 2026-06-17
   days on market $165,000 Active 177 DOM
3. 2026-06-16
   days on market $165,000 Active 176 DOM
4. 2026-06-15
   days on market $165,000 Active 175 DOM
5. 2026-06-13
   days on market $165,000 Active 173 DOM
6. 2026-06-10
   days on market $165,000 Active 170 DOM
7. 2026-06-09
   days on market $165,000 Active 169 DOM
8. 2026-06-08
   days on market $165,000 Active 168 DOM
9. 2026-06-07
   days on market $165,000 Active 167 DOM
10. 2026-06-03
    days on market $165,000 Active 163 DOM
11. 2026-06-03
    days on market $165,000 Active 162 DOM
12. 2026-06-01
    days on market $165,000 Active 161 DOM
13. 2026-06-01
    days on market $165,000 Active 160 DOM
14. 2025-12-19
    listed $165,000 New 382-char remark

    Show marketing remark (382 chars)

    This home has a ton of potential. Spacious enclosed front porch, large living room, formal dining and eat in kitchen. Main floor also features the primary bedroom and bath. Upper level consists of two additional bedrooms and a full bath. This property sits on an oversized corner lot homesite located close to schools, shopping and restaurants with easy access to many attractions.

ⓘ 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: $2,256 · $188/mo
• Projected year-2 tax: $2,854 · $238/mo
• Expected delta: +$599/yr (+$50/mo · 26.5%)

ⓘ 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: $20,387
• − Mortgage interest: −$9,243
• − Property taxes: −$2,256
• − Insurance: −$825
• − Repairs & maintenance: −$1,631
• − Management: −$1,631
• − Depreciation: −$4,800
• Taxable income: $2
• Est. tax owed @ 24.0%: −$0
• After-tax cash flow: $2,641/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

1 event — show timeline

• 2025-12-19 Listed $165,000 GPRMLS

Property tax history

+7.1%/yr

Latest (2025): $2,256 · -2.9% YoY. Source: county tax records.