5507 N 28th Ave · Omaha, NE 68111

$85,000

2 bd · 1.0 ba · 928 sqft · Other public records · 40 Days on market

Built 1909 4,792 sqft lot $92/sqft · 28% below area Est $119k · 28% under

---

Why this score? — see what drove the A 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Livability +4.2/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0

Listing remarks

Investor Special!!!Great opportunity with endless potential! Don’t miss your chance to make this home your own. With options to add additional rooms and a bathroom in both the basement and upstairs, there’s plenty of space to expand and customize to fit your needs. Perfect for buyers looking to add value and create their dream home!

Key facts

• 4,792 sq ft lot
• Built 1909
• Listed 40 days

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single family residence; One and one half levels; Not new (originally built in 1909)
• Construction: Brick/mortar foundation; Built in 1909
• Exterior features: Front porch; Partial fencing; Lot approximately 0.11 acres (about 40 x 130)

Interior

• Bedrooms: Master bedroom on main floor; Second bedroom on main floor
• Bathrooms: One full bathroom on main floor
• Heating & cooling: Natural gas forced air heating; Central air conditioning
• Interior features: Full basement; No fireplaces

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $85k.

Deal economics

• At list price, monthly cash flow is $459 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $82k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.8% 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: Miller Park Elementary School (math 17% / reading 17%, grade F, #471 of 502 statewide, top 95%, 390 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: Rents rising (+3.2%/yr); 139 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).
• This rent runs 37% of the median local income ($42k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $9k of equity ($588 loan paydown + $8k 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 $24k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $63k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1909 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $82,450 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1909 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.55% ✓
• Cap rate: 12.77%
• Cash-on-cash: 23.12%
• DSCR: 2.03
• GRM: 5.4

CMA / ARV

• ARV (median comp): $118,751
• List price: $85,000
• Delta: -28.42%
• 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: 41.8%
• Equity multiple: 4.19×
• Total profit: $75,808
• Equity at exit: $76,575

10-year hold

• IRR: 36.1%
• Equity multiple: 9.44×
• Total profit: $200,902
• Equity at exit: $165,136

Cash invested: $23,800 (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: 139
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,315 high
• Mortgage (P&I): −$446
• Tax from tax record: −$99 /mo · $1,187/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $459

Break-even live

Break-even rent $734

Max offer price $85,000

Occupancy floor 60%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5922 N 28th Ave Omaha, NE	2.0	1.0	764	$950	$1.24	3d	1	0.26mi
2873 Kansas Ave Omaha, NE	3.0	2.0	1112	$1,450	$1.30	24d	1	0.33mi
2723 Newport Ave Omaha, NE	2.0	1.0	1079	$1,450	$1.34	2d	1	0.69mi
3164 Ida St Omaha, NE	3.0	1.0	946	$1,600	$1.69	44d	1	0.91mi
3164 Ida St Omaha, NE	3.0	1.0	946	$1,600	$1.69	10d	1	0.91mi
3164 Ida St Omaha, NE	3.0	1.0	946	$1,600	$1.69	2d	1	0.91mi
3941 Himebaugh Ave Omaha, NE	2.0	1.0	720	$1,350	$1.88	24d	1	0.99mi
4018 Bauman Ave Omaha, NE	3.0	1.0	925	$1,380	$1.49	44d	1	1.23mi
3138 Weber Cir Omaha, NE	2.0	1.0	750	$1,200	$1.60	44d	1	1.28mi
3708 Florence Blvd Omaha, NE	3.0	1.0	1102	$1,395	$1.27	21d	1	1.30mi
4414 Curtis Ave Unit CRAWFORD 4414/B Omaha, NE	1.0	1.0	765	$745	$0.97	24d	1	1.39mi
4460 Redman Ave Omaha, NE	3.0	1.0	750	$950	$1.27	44d	1	1.40mi
4470 Redman Ave Unit 4470A Omaha, NE	2.0	1.5	980	$1,050	$1.07	10d	1	1.43mi

Listing history 15 events

1. 2026-06-18
   days on market $85,000 Active 40 DOM
2. 2026-06-17
   days on market $85,000 Active 39 DOM
3. 2026-06-16
   days on market $85,000 Active 38 DOM
4. 2026-06-15
   days on market $85,000 Active 37 DOM
5. 2026-06-13
   days on market $85,000 Active 35 DOM
6. 2026-06-10
   days on market $85,000 Active 32 DOM
7. 2026-06-09
   days on market $85,000 Active 31 DOM
8. 2026-06-08
   days on market $85,000 Active 30 DOM
9. 2026-06-07
   days on market $85,000 Active 29 DOM
10. 2026-06-03
    days on market $85,000 Active 25 DOM
11. 2026-06-03
    days on market $85,000 Active 24 DOM
12. 2026-06-01
    days on market $85,000 Active 23 DOM
13. 2026-06-01
    days on market $85,000 Active 22 DOM
14. 2026-05-09
    listed $95,000 New 346-char remark
15. 2023-07-10
    soldstatus $63,000

ⓘ 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: $1,187 · $99/mo
• Projected year-2 tax: $1,470 · $123/mo
• Expected delta: +$283/yr (+$24/mo · 23.9%)

ⓘ 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: $15,778
• − Mortgage interest: −$4,761
• − Property taxes: −$1,187
• − Insurance: −$425
• − Repairs & maintenance: −$1,262
• − Management: −$1,262
• − Depreciation: −$2,473
• Taxable income: $4,407
• Est. tax owed @ 24.0%: −$1,058
• After-tax cash flow: $4,445/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

+34.9% since first listed

3 events — show timeline

• 2026-05-21 Price Changed $85,000 GPRMLS
• 2026-05-09 Listed $95,000 GPRMLS
• 2023-07-10 Sold (Public Records) $63,000 Public Records

Property tax history

+3.7%/yr

Latest (2025): $1,187 · -2.2% YoY. Source: county tax records.