1832 SW 15th St · Lincoln, NE 68522

$55,000

3 bd · 2.0 ba · 1,064 sqft · Manufactured · 57 Days on market

Built 1977 Fair condition 1,307 sqft lot $52/sqft · 16% above area Est $48k · 16% over

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Why this score? — see what drove the C+ 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
• Schools +4.4/10.0
• Livability +4.2/5.0
• Rent growth +3.1/5.0
• Condition / age +2.2/5.0
• ARV discount +0.4/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Corner lot in Harbour West Mobile Home Court. New soffit, new gutters and new roof. New buyers must be approved through mobile home park. Lot rent is $763. Mobile home park bills water/sewer/garbage on top of lot rent which roughly comes to $822.09 total

Key facts

• New gutters
• New soffit
• Corner lot

Tags

• CORNER LOT
• NEW SOFFIT
• NEW GUTTERS
• NEW ROOF

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $55k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $799 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $53k (3.0% below list) — sets the bar for market timing.
• Cap rate 23.7% 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); 90 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,940 units permitted in Lancaster County in 2024 (895 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 2.4% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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 $40k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $53,350 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1977 — 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. 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?
6. 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?
7. 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.
8. 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.
9. 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: 2.71% ✓
• Cap rate: 23.72%
• Cash-on-cash: 62.25%
• DSCR: 3.77
• GRM: 3.1

CMA / ARV

• ARV (median comp): $47,500
• List price: $55,000
• Delta: 15.79%
• Verdict: OVERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1021 Gordon Dr	0.24mi	3/2.0	1,056 (-1%)	1mo	$46,000	$44	87
1407 W Commodore Blvd #194	0.06mi	3/2.0	1,088 (+2%)	11mo	$60,000	$55	84
1407 W Commodore Blvd	0.06mi	3/2.0	1,152 (+8%)	1mo	$49,000	$43	82
1015 Gordon Dr	0.25mi	3/2.0	1,088 (+2%)	20mo	$60,000	$55	68
1206 W Plum St	0.13mi	3/2.0	1,152 (+8%)	20mo	$60,000	$52	64
1427 W Arlington Ave	0.07mi	3/2.0	1,216 (+14%)	14mo	$50,000	$41	62
1925 Last Rd #219	0.24mi	3/2.0	1,008 (-5%)	23mo	$60,000	$60	61
1800 SW 11th St	0.24mi	3/2.0	1,216 (+14%)	5mo	$41,000	$34	61
1021 W Peach St	0.14mi	2/2.0 (-1)	924 (-13%)	16mo	$44,000	$48	54

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 · 2.38% rent growth · sell at horizon

5-year hold

• IRR: 60.5%
• Equity multiple: 3.67×
• Total profit: $41,064
• Equity at exit: $8,201

10-year hold

• IRR: 64.9%
• Equity multiple: 7.34×
• Total profit: $97,616
• Equity at exit: $4,755

Cash invested: $15,400 (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 68522

• Home prices YoY: -31.6%
• Rents YoY: 2.4%
• Active inventory: 90
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,492 high
• Mortgage (P&I): −$288
• Tax est. 1.5%: −$69 /mo · $825/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$313
• Net cashflow: $799

Break-even live

Break-even rent $481

Max offer price $55,000

Occupancy floor 41%

Sensitivity live

Price	-10% $837	-5% $818	+0% $799	+5% $780	+10% $761
Rent	-10% $681	-5% $740	+0% $799	+5% $858	+10% $917
Rate	-1.0pp $827	-0.5pp $813	base $799	+0.5pp $785	+1.0pp $770

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1915 SW 12th St Unit 128 Lincoln, NE	2.0	1.0	728	$1,429	$1.96	44d	1	0.13mi
1309 W Plum St #73 Lincoln, NE	3.0	2.0	1088	$1,679	$1.54	44d	1	0.14mi
1101 W C St Lincoln, NE	1.0–3.0	1.0	1045	$1,385	$1.33	14d	9	0.53mi
705 Folsom Ln Lincoln, NE	1.0–3.0	1.0–2.5	1173	$2,105	$1.79	14d	16	0.57mi
1500 S Folsom St Unit 6 Lincoln, NE	2.0	1.0	766	$975	$1.27	21d	1	0.74mi
1500 S Folsom St Unit 8 Lincoln, NE	2.0	1.0	766	$950	$1.24	21d	1	0.75mi
1500 S Folsom St Unit 4 Lincoln, NE	2.0	1.0	766	$975	$1.27	44d	1	0.75mi
760 W C St Lincoln, NE	1.0–3.0	1.0–2.0	1018	$1,419	$1.39	14d	8	0.75mi
2960 S Coddington Ave Lincoln, NE	1.0–2.0	1.0	798	$1,419	$1.78	14d	10	0.78mi
1170 SW 27th St Lincoln, NE	2.0–3.0	2.0	1022	$1,349	$1.32	14d	12	0.96mi

Listing history 19 events

1. 2026-06-18
   days on market $55,000 Active 57 DOM
2. 2026-06-17
   days on market $55,000 Active 56 DOM
3. 2026-06-16
   days on market $55,000 Active 55 DOM
4. 2026-06-15
   days on market $55,000 Active 54 DOM
5. 2026-06-14
   days on market $55,000 Active 52 DOM
6. 2026-06-10
   days on market $55,000 Active 49 DOM
7. 2026-06-09
   days on market $55,000 Active 48 DOM
8. 2026-06-08
   days on market $55,000 Active 47 DOM
9. 2026-06-07
   days on market $55,000 Active 46 DOM
10. 2026-06-05
    days on market $55,000 Active 43 DOM
11. 2026-06-03
    days on market $55,000 Active 42 DOM
12. 2026-06-02
    days on market $55,000 Active 41 DOM
13. 2026-06-01
    days on market $55,000 Active 40 DOM
14. 2026-05-31
    days on market $55,000 Active 39 DOM
15. 2026-05-30
    days on market $55,000 Active 38 DOM
16. 2026-04-05
    listed $55,000 New 254-char remark

    Show marketing remark (254 chars)

    Corner lot in Harbour West Mobile Home Court. New soffit, new gutters and new roof. New buyers must be approved through mobile home park. Lot rent is $763. Mobile home park bills water/sewer/garbage on top of lot rent which roughly comes to $822.09 total

17. 2023-01-18
    soldstatus $40,000 Sold 473-char remark

    Show marketing remark (473 chars)

    Great corner lot in Harbour West Mobile Home Court. All new appliances with warrantees! Primary suite is very spacious with a full private bath that has a tiled shower surround and tub. 2 guest bedrooms and a 3/4 guest bath. Washer/dryer are less than 2 months old with warrantees in place. Property is close to neighborhood park for the kids to run and play. Lot rent is currently $640 that includes water/sewer/trash, new buyers must be approved through the mobile park.

18. 2022-12-06
    status Pending 473-char remark

    Show marketing remark (473 chars)

    Great corner lot in Harbour West Mobile Home Court. All new appliances with warrantees! Primary suite is very spacious with a full private bath that has a tiled shower surround and tub. 2 guest bedrooms and a 3/4 guest bath. Washer/dryer are less than 2 months old with warrantees in place. Property is close to neighborhood park for the kids to run and play. Lot rent is currently $640 that includes water/sewer/trash, new buyers must be approved through the mobile park.

19. 2022-10-26
    listed $42,000 Active - New 473-char remark

    Show marketing remark (473 chars)

    Great corner lot in Harbour West Mobile Home Court. All new appliances with warrantees! Primary suite is very spacious with a full private bath that has a tiled shower surround and tub. 2 guest bedrooms and a 3/4 guest bath. Washer/dryer are less than 2 months old with warrantees in place. Property is close to neighborhood park for the kids to run and play. Lot rent is currently $640 that includes water/sewer/trash, new buyers must be approved through the mobile park.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 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: $17,908
• − Mortgage interest: −$3,081
• − Property taxes: −$825
• − Insurance: −$275
• − Repairs & maintenance: −$1,433
• − Management: −$1,433
• − Depreciation: −$1,600
• Taxable income: $9,262
• Est. tax owed @ 24.0%: −$2,223
• After-tax cash flow: $7,363/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This manufactured home requires moderate renovations to update the kitchen and bathroom, paint interior walls, and repair/replace windows. These updates would significantly increase its resale and rental value.

Repairs flagged

• Moderate kitchen cabinets — dated and in need of replacement
• Moderate bathroom vanity — dated and in need of replacement
• Minor exterior siding — some discoloration

Value-add opportunities

• Resale update kitchen cabinets and countertops — modernizing the kitchen would attract more buyers
• Resale update bathroom vanity and fixtures — modernizing the bathroom would attract more buyers
• Both paint interior walls — fresh paint would improve the home's curb appeal and interior aesthetics
• Both repair/replace windows — new windows would improve energy efficiency and curb appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in need of replacement	Moderate	$3,000–15,000
bathroom vanity · dated and in need of replacement	Moderate	$3,000–15,000
exterior siding · some discoloration	Minor	$500–3,000
Total estimated repair cost · 3 items		$6,500–33,000

Value-add ROI direction

• Resale update kitchen cabinets and countertops — modernizing the kitchen would attract more buyers ↑
• Resale update bathroom vanity and fixtures — modernizing the bathroom would attract more buyers ↑
• Both paint interior walls — fresh paint would improve the home's curb appeal and interior aesthetics ↑
• Both repair/replace windows — new windows would improve energy efficiency and curb appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 14,836
• Household income: $77,597
• Rent vs Own: 27.9% rent · 72.1% own
• Severe rent burden: 366.0

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 (71%)
• Race & ethnicity: White 71% Hispanic / Latino 9% Two or more races 8% Black 8% Asian 3%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Arab 4% Italian 2% Romanian 2%
• Foreign-born: 11% · Canada, Philippines, Vietnam
• Languages at home: 85% English-only · Spanish 5% Other Indo-European 4% Other Asian/Pacific 2%

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: ▼ -114.49%
• Current HPI: 247.8809
• Rent YoY: ▲ 2.38%
• 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

+31.0% since first listed

4 events — show timeline

• 2026-04-05 Listed $55,000 GPRMLS
• 2023-01-18 Sold (MLS) $40,000 GPRMLS
• 2022-12-06 Pending — GPRMLS
• 2022-10-26 Listed $42,000 GPRMLS