2565 Marcy St · Omaha, NE 68105

$484,900

16 bd · 4.0 ba · 2,592 sqft · MultiFamily public records · 9 Days on market

Built 1925

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Brick 4plex. All 1 be apts, separate LR, bath, & kitchen. Fully occupied. Electricity separataly metered. Well maintained & professionally managed. $1620 total rents & increasing, plus revenue from coin laundry facility on site belonging to owner. A 5th apt in the basement, non-conventional, needing a egress window to make it official. Street parking. Near Interestate, shopping & major development of Mid-Town Crossing. Owner could finance 80%.

Key facts

• Multifamily property
• Steady rental income
• Built 1925

Tags

• MULTIFAMILY PROPERTY
• SHARED LAUNDRY FACILITIES
• STEADY RENTAL INCOME
• INVESTMENT OPPORTUNITY

Property features AI

Exterior

• Home design: Built in 1925; Single property with 2,592 living area
• Exterior features: Located in the Columbus Park subdivision

What this means for you Summary

Snapshot

• This is a 4 × 4-bed/4.0-bath units multifamily listed at $485k.

Deal economics

• At list price, monthly cash flow is $4k ($50k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $485k).
• Cap rate 16.7% 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.
• Market conditions: Rents rising (+3.7%/yr); 124 active listings in the ZIP; 4,539 units permitted in Douglas County in 2024 (2,583 in 5+ unit buildings).
• At $9,074/mo this rent would consume 189% of the median local household income ($58k/yr) (locally 1096% 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 $3k of loan paydown is wiped out by about $15k 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.
• At projected returns (-3.0% appreciation + 3.7% rent growth), your $136k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 18y 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 $73k; list at $485k implies a 563% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $484,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 1.87% ✓
• Cap rate: 16.69%
• Cash-on-cash: 37.15%
• DSCR: 2.65
• GRM: 4.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.66% rent growth · sell at horizon

5-year hold

• IRR: 33.7%
• Equity multiple: 2.44×
• Total profit: $195,086
• Equity at exit: $72,300

10-year hold

• IRR: 41.0%
• Equity multiple: 4.97×
• Total profit: $539,397
• Equity at exit: $41,925

Cash invested: $135,772 (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 68105

• Rents YoY: 3.7%
• Active inventory: 124
• Price-to-rent: 17.8×

Monthly cashflow live

• Estimated rent: $9,074 medium
• Mortgage (P&I): −$2,543
• Tax from tax record: −$220 /mo · $2,646/yr
• Insurance: −$202
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,906
• Net cashflow: $4,203

Break-even live

Break-even rent $3,754

Max offer price $484,900

Occupancy floor 49%

Sensitivity live

Price	-10% $4,478	-5% $4,340	+0% $4,203	+5% $4,066	+10% $3,929
Rent	-10% $3,486	-5% $3,845	+0% $4,203	+5% $4,561	+10% $4,920
Rate	-1.0pp $4,447	-0.5pp $4,326	base $4,203	+0.5pp $4,077	+1.0pp $3,950

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

Units	Beds	Baths	Est. rent
▸ 4× units	4	4	$9,072
Total (4 units)			$9,074

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: $121,225
• Closing costs: $14,547
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-18
   days on market $484,900 Active 9 DOM
2. 2026-06-17
   days on market $484,900 Active 8 DOM
3. 2026-06-16
   days on market $484,900 Active 7 DOM
4. 2026-06-15
   days on market $484,900 Active 6 DOM
5. 2026-06-13
   days on market $484,900 Active 4 DOM
6. 2026-06-10
   remarks 527-char remark
7. 2026-06-10
   listed $484,900 Active 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: $2,646 · $220/mo
• Projected year-2 tax: $8,389 · $699/mo
• Expected delta: +$5,743/yr (+$479/mo · 217.1%)

ⓘ 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: $108,888
• − Mortgage interest: −$27,162
• − Property taxes: −$2,646
• − Insurance: −$2,424
• − Repairs & maintenance: −$8,711
• − Management: −$8,711
• − Depreciation: −$14,106
• Taxable income: $45,128
• Est. tax owed @ 24.0%: −$10,831
• After-tax cash flow: $39,606/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): 22,807
• Household income: $57,533
• Rent vs Own: 56.5% rent · 43.5% own
• Severe rent burden: 1096.0

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 0.55)
• Race & ethnicity: White 60% Hispanic / Latino 29% Two or more races 11% Black 5% Native American 2% Asian 2%
• Hispanic origin (detail): Mexican 23%
• Common ancestry: Romanian 5% Lithuanian 3% Portuguese 2%
• Foreign-born: 13% · Canada, China
• Languages at home: 73% English-only · Spanish 22% Arabic 1% Other Indo-European 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: ▼ -234.93%
• Current HPI: 314.1884
• Rent YoY: ▲ 3.66%
• 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

+592.7% since first listed

12 events — show timeline

• 2026-06-09 Listed $484,900 FSBO.com
• 2022-07-22 Price Changed $675 RENT.
• 2011-12-30 Sold (Public Records) $630,000 Public Records
• 2011-12-30 Sold (MLS) $73,175 GPRMLS
• 2011-12-11 Listing Removed — GPRMLS
• 2011-07-29 Listed $79,500 GPRMLS
• 2008-07-07 Sold (Public Records) $117,000 Public Records
• 2008-06-13 Sold (MLS) $117,000 GPRMLS
• 2008-05-02 Listing Removed — GPRMLS
• 2008-01-31 Listed $125,000 GPRMLS
• 2004-09-03 Sold (Public Records) $85,000 Public Records
• 2001-04-27 Sold (Public Records) $70,000 Public Records

Property tax history

+2.0%/yr

Latest (2021): $2,646 · -7.7% YoY. Source: county tax records.