2815 N St · Lincoln, NE 68510

$199,950

6 bd · 3.0 ba · 1,820 sqft · Other public records · 66 Days on market

Built 1926 2,920 sqft lot Est $266k · 25% under

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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).

• ARV discount +15.0/15.0
• Cash flow +13.5/30.0
• Schools +4.4/10.0
• Livability +4.2/5.0
• DSCR +4.1/10.0
• 1% rule +3.4/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Don't miss this cash-flowing duplex investment opportunity just south of O Street! This income-producing multi-level duplex is perfect for investors or owner-occupants looking to house hack. Currently rented at $1,100/month (upper unit) and $850/month (main floor), offering immediate cash flow. Both units have been remodeled within the past four years, with the upper unit featuring a beautiful primary suite. Property includes off-street parking with up to four spaces, low-maintenance landscaping, and laundry hookups in the basement. All appliances included. Great opportunity to own a turnkey rental property in a convenient location. Schedule your private showing today! Also in MLS as Residential #22606194.

Key facts

• Remodeled units
• Cash-flowing duplex
• Off-street parking

Tags

• CASH-FLOWING DUPLEX
• MULTI-LEVEL DUPLEX
• REMODELED UNITS
• OFF-STREET PARKING
• LOW-MAINTENANCE LANDSCAPING
• LAUNDRY HOOKUPS

🏷️ Possibly a rental listed for sale. The $199,950 price doesn't fit this home's estimated sale value (~$265,899) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath other listed at $200k.

Deal economics

• At list price, monthly cash flow is $9 ($103/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $169k (15.7% below list).
• Recommended offer: $169k (15.7% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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 (+1.8%/yr); 119 active listings in the ZIP; 1,940 units permitted in Lancaster County in 2024 (895 in 5+ unit buildings).
• This rent runs 31% of the median local income ($66k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• Lancaster County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($188k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 16y ago; this cycle's ask has dropped $15k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $142k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $168,628 (15.7% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. Built in 1926 — 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. 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: 0.84% ✗
• Cap rate: 6.34%
• Cash-on-cash: 0.18%
• DSCR: 1.01
• GRM: 9.9

CMA / ARV

• ARV (median comp): $265,899
• List price: $199,950
• Delta: -24.80%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.78% rent growth · sell at horizon

5-year hold

• IRR: -17.3%
• Equity multiple: 0.39×
• Total profit: $-33,907
• Equity at exit: $29,813

10-year hold

• IRR: -11.7%
• Equity multiple: 0.34×
• Total profit: $-37,050
• Equity at exit: $17,288

Cash invested: $55,986 (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 68510

• Rents YoY: 1.8%
• Active inventory: 119
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,686 medium
• Mortgage (P&I): −$1,049
• Tax from tax record: −$192 /mo · $2,300/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$354
• Net cashflow: $9

Break-even live

Break-even rent $1,675

Max offer price $199,950

Occupancy floor 94%

Sensitivity live

Price	-10% $122	-5% $65	+0% $9	+5% $-48	+10% $-105
Rent	-10% $-125	-5% $-58	+0% $9	+5% $75	+10% $142
Rate	-1.0pp $109	-0.5pp $59	base $9	+0.5pp $-43	+1.0pp $-96

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: $49,988
• Closing costs: $5,998
• Reserves months: —
• Total cash needed: —

Listing history 42 events

1. 2026-06-18
   days on market $199,950 Active 66 DOM
2. 2026-06-17
   days on market $199,950 Active 65 DOM
3. 2026-06-16
   days on market $199,950 Active 64 DOM
4. 2026-06-15
   days on market $199,950 Active 63 DOM
5. 2026-06-14
   days on market $199,950 Active 61 DOM
6. 2026-06-10
   days on market $199,950 Active 58 DOM
7. 2026-06-09
   days on market $199,950 Active 57 DOM
8. 2026-06-08
   days on market $199,950 Active 56 DOM
9. 2026-06-07
   days on market $199,950 Active 55 DOM
10. 2026-06-05
    days on market $199,950 Active 52 DOM
11. 2026-06-03
    days on market $199,950 Active 51 DOM
12. 2026-06-02
    days on market $199,950 Active 50 DOM
13. 2026-06-01
    days on market $199,950 Active 49 DOM
14. 2026-05-31
    days on market $199,950 Active 48 DOM
15. 2026-05-30
    days on market $199,950 Active 47 DOM
16. 2026-04-13
    price $199,950 715-char remark

    Show marketing remark (715 chars)

    Don't miss this cash-flowing duplex investment opportunity just south of O Street! This income-producing multi-level duplex is perfect for investors or owner-occupants looking to house hack. Currently rented at $1,100/month (upper unit) and $850/month (main floor), offering immediate cash flow. Both units have been remodeled within the past four years, with the upper unit featuring a beautiful primary suite. Property includes off-street parking with up to four spaces, low-maintenance landscaping, and laundry hookups in the basement. All appliances included. Great opportunity to own a turnkey rental property in a convenient location. Schedule your private showing today! Also in MLS as Residential #22606194.

17. 2026-04-02
    price $199,950 722-char remark

    Show marketing remark (722 chars)

    Don’t miss this cash-flowing duplex investment opportunity just south of O Street! This income-producing multi-level duplex is perfect for investors or owner-occupants looking to house hack. Currently rented at $1,100/month (upper unit) and $850/month (main floor), offering immediate cash flow. Both units have been remodeled within the past four years, with the upper unit featuring a beautiful primary suite. Property includes off-street parking with up to four spaces, low-maintenance landscaping, and laundry hookups in the basement. All appliances included. Great opportunity to own a turnkey rental property in a convenient location. Schedule your private showing today! Also in MLS as Multi-Family #22609788.

18. 2026-03-08
    listed $215,000 New 715-char remark

    Show marketing remark (722 chars)

    Don’t miss this cash-flowing duplex investment opportunity just south of O Street! This income-producing multi-level duplex is perfect for investors or owner-occupants looking to house hack. Currently rented at $1,100/month (upper unit) and $850/month (main floor), offering immediate cash flow. Both units have been remodeled within the past four years, with the upper unit featuring a beautiful primary suite. Property includes off-street parking with up to four spaces, low-maintenance landscaping, and laundry hookups in the basement. All appliances included. Great opportunity to own a turnkey rental property in a convenient location. Schedule your private showing today! Also in MLS as Multi-Family #22609788.

19. 2026-03-08
    listed $215,000 New 722-char remark

    Show marketing remark (722 chars)

    Don’t miss this cash-flowing duplex investment opportunity just south of O Street! This income-producing multi-level duplex is perfect for investors or owner-occupants looking to house hack. Currently rented at $1,100/month (upper unit) and $850/month (main floor), offering immediate cash flow. Both units have been remodeled within the past four years, with the upper unit featuring a beautiful primary suite. Property includes off-street parking with up to four spaces, low-maintenance landscaping, and laundry hookups in the basement. All appliances included. Great opportunity to own a turnkey rental property in a convenient location. Schedule your private showing today! Also in MLS as Multi-Family #22609788.

20. 2023-09-25
    historical $800
21. 2023-09-15
    price $800
22. 2023-08-24
    price $950
23. 2023-07-16
    listed $1,000
24. 2019-07-22
    soldstatus $142,000 Sold
25. 2019-05-09
    listed $142,000 Active - New
26. 2017-04-24
    soldstatus $110,000
27. 2017-04-21
    soldstatus $110,000
28. 2017-03-26
    historical
29. 2017-01-06
    listed $109,900
30. 2016-11-08
    historical
31. 2016-08-09
    listed $117,000
32. 2013-12-03
    soldstatus $41,000
33. 2013-11-26
    soldstatus $41,000
34. 2013-11-13
    historical
35. 2013-11-12
    historical
36. 2013-04-22
    listed $50,000
37. 2012-10-04
    listed $81,000
38. 2012-08-28
    historical
39. 2012-03-02
    listed $93,500
40. 2010-12-16
    historical
41. 2010-06-16
    listed $95,000
42. 2002-08-26
    soldstatus $95,000

ⓘ 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: $2,300 · $192/mo
• Projected year-2 tax: $3,459 · $288/mo
• Expected delta: +$1,159/yr (+$97/mo · 50.4%)

ⓘ 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 ≥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: $20,235
• − Mortgage interest: −$11,200
• − Property taxes: −$2,300
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,619
• − Management: −$1,619
• − Depreciation: −$5,817
• Taxable loss: −$3,319
• Est. tax savings @ 24.0%: +$797
• After-tax cash flow: $900/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: 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): 19,391
• Household income: $65,951
• Rent vs Own: 41.7% rent · 58.3% own
• Severe rent burden: 622.0

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 (82%)
• Race & ethnicity: White 82% Hispanic / Latino 7% Two or more races 6% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Arab 2% Romanian 2% Iranian 2%
• Foreign-born: 6% · Canada, Vietnam
• Languages at home: 92% English-only · Spanish 4% Other Indo-European 1% French/Haitian/Cajun 1%

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: ▼ -152.27%
• Current HPI: 243.7469
• Rent YoY: ▲ 1.78%
• 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

+110.5% since first listed

27 events — show timeline

• 2026-04-13 Price Changed $199,950 GPRMLS
• 2026-04-02 Price Changed $199,950 GPRMLS
• 2026-03-08 Listed $215,000 GPRMLS
• 2026-03-08 Listed $215,000 GPRMLS
• 2023-09-25 Rental Removed $800 APPFOLIO
• 2023-09-15 Price Changed $800 APPFOLIO
• 2023-08-24 Price Changed $950 APPFOLIO
• 2023-07-16 Listed for Rent $1,000 APPFOLIO
• 2019-07-22 Sold (MLS) $142,000 GPRMLS
• 2019-05-09 Listed $142,000 GPRMLS
• 2017-04-24 Sold (Public Records) $110,000 Public Records
• 2017-04-21 Sold (MLS) $110,000 GPRMLS
• 2017-03-26 Listing Removed — GPRMLS
• 2017-01-06 Listed $109,900 GPRMLS
• 2016-11-08 Listing Removed — GPRMLS
• 2016-08-09 Listed $117,000 GPRMLS
• 2013-12-03 Sold (Public Records) $41,000 Public Records
• 2013-11-26 Sold (MLS) $41,000 GPRMLS
• 2013-11-13 Listing Removed — GPRMLS
• 2013-11-12 Listing Removed — GPRMLS
• 2013-04-22 Listed $50,000 GPRMLS
• 2012-10-04 Listed $81,000 GPRMLS
• 2012-08-28 Listing Removed — GPRMLS
• 2012-03-02 Listed $93,500 GPRMLS
• 2010-12-16 Listing Removed — GPRMLS
• 2010-06-16 Listed $95,000 GPRMLS
• 2002-08-26 Sold (Public Records) $95,000 Public Records

Property tax history

+6.7%/yr

Latest (2025): $2,300 · -7.9% YoY. Source: county tax records.