11222 Erskine St · Omaha, NE 68164

$200,000

3 bd · 2.5 ba · 2,118 sqft · SingleFamily public records · 6 Days on market

Built 1982 0.39 ac lot Est $288k · 31% under ↓ 5% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +12.8/30.0
• 1% rule +4.7/10.0
• Rent growth +4.4/5.0
• Livability +4.2/5.0
• DSCR +3.8/10.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

The basement walls all are insulated down 4 feet on the outside walls. The walls are 8 inches wide because the studs are staggered, insulated, twice the depth. Open floor plan. It is a fixer upper. Electric heat. The blocks are filled with concrete for solid mass to hold the heat.

Key facts

• Ranch home
• Backyard
• Spacious lot

Tags

• RANCH HOME
• NONCONFORMING BEDROOM
• FINISHED LOWER LEVEL
• SPACIOUS LOT
• BACKYARD

Property features AI

Exterior

• Parking: Attached garage with 2 covered spaces; Garage door opener
• Utilities: Public water; Public sewer; Electricity available on property; Natural gas available; Cable available; Phone available
• Home design: Single-family residential home; Not new / not a model; Living area reported as 2,118 sq ft; Below-grade finished area approximately 1,000 sq ft; Above-grade finished area approximately 1,118 sq ft
• Construction: Built in 1982; Frame construction; Block foundation
• Exterior features: Porch; Deck; Lot over 1/4 up to 1/2 acre (approximately 0.38 acres), dimensions 141' x 120'; Lot included in price

Interior

• Kitchen: Range; Cooktop; Refrigerator; Freezer; Microwave; Dishwasher
• Bedrooms: Primary bedroom on main floor (about 14.5' x 14'); Additional bedroom on main floor; Bedroom on basement level (about 12' x 12.5'); Fourth bedroom (listed as 4th floor) (about 11' x 13')
• Bathrooms: Two bathrooms total: one full and one three-quarter; One main level bathroom; One below-grade bathroom
• Heating & cooling: Wood, other fuel, and baseboard heating; Window cooling units
• Interior features: Ceiling fan(s); Gas-log lighter fireplace (1 fireplace)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $-18 ($-221/yr) — negative.
• To cash-flow at today's rent, offer at most $197k (1.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $193k (3.5% below list).
• Recommended offer: $193k (3.5% below list) — sets the bar for 1% rule.
• 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: Joslyn Elementary School (math 32% / reading 37%, grade F, #390 of 502 statewide, top 80%, 286 students, 0% FRL); Beveridge Magnet Middle School (math 27% / reading 37%, grade F, #107 of 128 statewide, top 84%, 816 students, 0% FRL); Burke High School (math 28% / reading 38%, grade F, #226 of 261 statewide, top 87%, 1,915 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 fast (+7.4%/yr); 116 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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 $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

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 5y 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.

Recommended offer $193,029 (3.5% 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. 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. 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?
5. 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.
6. 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.
7. 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: 0.97% ✗
• Cap rate: 6.18%
• Cash-on-cash: -0.39%
• DSCR: 0.98
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $288,048
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11061 Decatur St	0.43mi	3/2.0	2,202 (+4%)	2mo	$283,000	$129	70
11023 Franklin Cir	0.49mi	3/1.5	2,068 (-2%)	9mo	$253,000	$122	62
1515 N 107th Ave	0.67mi	3/2.0	2,022 (-4%)	0mo	$276,000	$136	59
1630 N 107th St	0.64mi	3/3.0	2,184 (+3%)	10mo	$235,000	$108	54
10534 Parker St	0.58mi	3/1.5	2,044 (-4%)	12mo	$293,800	$144	53
2222 N 113 St	0.13mi	4/2.5 (+1)	1,806 (-15%)	14mo	$290,000	$161	53
1629 N 107th Ave	0.62mi	4/1.0 (+1)	2,189 (+3%)	4mo	$298,000	$136	51
2716 N 120th Ave	0.72mi	3/2.5	1,976 (-7%)	8mo	$306,000	$155	48
1712 N 107th Ave	0.57mi	3/2.5	1,831 (-14%)	8mo	$222,500	$122	44
2905 N 120th Avenue Circle	0.73mi	3/2.5	1,807 (-15%)	6mo	$324,500	$180	36
10263 Kathy Dr	0.75mi	4/3.0 (+1)	2,379 (+12%)	5mo	$255,000	$107	33
2022 N 104th Cir	0.70mi	4/2.0 (+1)	1,850 (-13%)	12mo	$275,000	$149	29

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 · 7.4% rent growth · sell at horizon

5-year hold

• IRR: -11.5%
• Equity multiple: 0.56×
• Total profit: $-24,529
• Equity at exit: $29,821

10-year hold

• IRR: 3.6%
• Equity multiple: 1.32×
• Total profit: $17,758
• Equity at exit: $17,292

Cash invested: $56,000 (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 68164

• Rents YoY: 7.4%
• Active inventory: 116
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,930 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$411 /mo · $4,934/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$405
• Net cashflow: $-18

Break-even live

Break-even rent $1,954

Max offer price $196,747

Occupancy floor 96%

Sensitivity live

Price	-10% $95	-5% $38	+0% $-18	+5% $-75	+10% $-132
Rent	-10% $-171	-5% $-95	+0% $-18	+5% $58	+10% $134
Rate	-1.0pp $82	-0.5pp $32	base $-18	+0.5pp $-70	+1.0pp $-123

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11525 Decatur Plz Omaha, NE	1.0–2.0	1.0–2.0	1197	$2,255	$1.88	4d	30	0.47mi
1506 N 120th St Omaha, NE	1.0–2.0	1.0–2.0	975	$1,400	$1.44	45d	1	0.95mi
10635 Spaulding Cir Omaha, NE	2.0	3.0	1815	$2,250	$1.24	4d	1	1.00mi
12511 Patrick Cir Omaha, NE	4.0	2.5	1474	$2,200	$1.49	25d	1	1.11mi
3110 1/2 N 97th St Omaha, NE	1.0–3.0	1.0–2.0	1189	$1,489	$1.25	4d	30	1.20mi
12724 Grant Cir Omaha, NE	3.0	2.0	1848	$2,040	$1.10	12d	1	1.30mi
9610 Spaulding St Omaha, NE	3.0	3.0	1664	$1,950	$1.17	16d	1	1.47mi
11766 Wakeley Plz Omaha, NE	1.0–3.0	1.0–3.0	1380	$1,840	$1.33	4d	26	1.48mi

Listing history 7 events

1. 2026-06-19
   status $200,000 Pending 6 DOM
2. 2026-06-18
   days on market $200,000 Active 6 DOM
3. 2026-06-17
   statusdays on market $200,000 Active 5 DOM
4. 2026-06-16
   days on market $200,000 New 4 DOM
5. 2026-06-15
   days on market $200,000 New 3 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $200,000 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: $4,934 · $411/mo
• Projected year-2 tax: $4,934 · $411/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥103°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: $23,163
• − Mortgage interest: −$11,203
• − Property taxes: −$4,934
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,853
• − Management: −$1,853
• − Depreciation: −$5,818
• Taxable loss: −$3,498
• Est. tax savings @ 24.0%: +$840
• After-tax cash flow: $619/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): 28,564
• Household income: $88,927
• Rent vs Own: 33.6% rent · 66.4% own
• Severe rent burden: 711.0

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: Predominantly White (73%)
• Race & ethnicity: White 73% Black 12% Hispanic / Latino 8% Two or more races 8% Asian 3%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 3% Lithuanian 3% Italian 2%
• Foreign-born: 8% · Canada, Vietnam, United Kingdom
• Languages at home: 89% English-only · Spanish 5% French/Haitian/Cajun 1% 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: ▼ -213.21%
• Current HPI: 221.9022
• Rent YoY: ▲ 7.40%
• 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

-4.8% since first listed

6 events — show timeline

• 2026-06-12 Listed $200,000 GPRMLS
• 2021-08-26 Sold (Public Records) $175,000 Public Records
• 2021-08-19 Sold (MLS) $175,000 GPRMLS
• 2021-07-06 Pending — GPRMLS
• 2021-06-29 Price Changed $170,000 GPRMLS
• 2021-06-17 Listed $210,000 GPRMLS

Property tax history

+4.7%/yr

Latest (2025): $4,934 · +28.8% YoY. Source: county tax records.