2908 N 169 St · Omaha, NE 68116

$385,000

4 bd · 2.5 ba · 3,159 sqft · Other public records · 58 Days on market

Built 2005 6,970 sqft lot $122/sqft · 19% below area Est $476k · 19% under ↓ 9% since listing

---

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 +10.7/30.0
• Schools +6.9/10.0
• Livability +4.2/5.0
• DSCR +3.1/10.0
• Rent growth +3.1/5.0
• 1% rule +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this spacious property featuring an impressive two-story entry filled with natural light and beautiful hardwood floors. The open main level offers great flow between the living spaces and kitchen, making it ideal for everyday living and entertaining. You'll love the abundant cabinetry in the kitchen, along with stainless steel appliances, a center island, and a bright dining area. The comfortable living room includes large windows and a cozy fireplace. Upstairs you'll find generously sized bedrooms including a spacious primary suite with double vanity, whirpool tub, separate shower, and walk-in closet. The expansive unfinished basement offers endless possibilities for future finishing, additional living space, or recreation area. The main floor office could also be used for a bedroom. Desirable location in Elkhorn School District!

Key facts

• Two story entry
• Abundant cabinetry
• Bright dining area

Tags

• TWO STORY ENTRY
• HARDWOOD FLOORS
• ABUNDANT CABINETRY
• STAINLESS STEEL APPLIANCES
• CENTER ISLAND
• BRIGHT DINING AREA

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath other listed at $385k.

Deal economics

• At list price, monthly cash flow is $-184 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $352k (8.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $308k (20.1% below list).
• Recommended offer: $308k (20.1% below list) — sets the bar for 1% rule.
• Cap rate 5.7% 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.
• Elkhorn Public Schools (urban): math 77% / reading 76% proficiency, ranked #1 of 111 in NE (top 1%) — strong family-tenant draw, lease renewals of 3-5y typical; only 5% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+2.5%/yr); 173 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 4,539 units permitted in Douglas County in 2024 (2,583 in 5+ unit buildings).
• This rent runs 30% of the median local income ($121k/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 $3k of loan paydown is wiped out by about $12k 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

• It's been on market 58 days — a 3% lower offer ($373k) is reasonable based on typical stale-listing flexibility.

Recommended offer $307,614 (20.1% 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. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
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. 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?
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 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: 0.80% ✗
• Cap rate: 5.72%
• Cash-on-cash: -2.05%
• DSCR: 0.91
• GRM: 10.4

CMA / ARV

• ARV (median comp): $475,852
• List price: $385,000
• Delta: -19.09%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.54% rent growth · sell at horizon

5-year hold

• IRR: -20.2%
• Equity multiple: 0.30×
• Total profit: $-75,529
• Equity at exit: $57,405

10-year hold

• IRR: -14.2%
• Equity multiple: 0.20×
• Total profit: $-86,578
• Equity at exit: $33,288

Cash invested: $107,800 (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 68116

• Home prices YoY: -15.4%
• Rents YoY: 2.5%
• Active inventory: 173
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $3,076 high
• Mortgage (P&I): −$2,019
• Tax from tax record: −$435 /mo · $5,222/yr
• Insurance: −$160
• HOA: −$0
• Vacancy / Maint / Mgmt: −$646
• Net cashflow: $-184

Break-even live

Break-even rent $3,310

Max offer price $352,430

Occupancy floor —

Sensitivity live

Price	-10% $34	-5% $-75	+0% $-184	+5% $-293	+10% $-402
Rent	-10% $-427	-5% $-306	+0% $-184	+5% $-63	+10% $59
Rate	-1.0pp $10	-0.5pp $-86	base $-184	+0.5pp $-284	+1.0pp $-386

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: $96,250
• Closing costs: $11,550
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17055 Corby St Omaha, NE	4.0	3.0	3700	$3,500	$0.95	22d	1	0.17mi
2633 N 165th St Omaha, NE	5.0	3.5	3144	$3,250	$1.03	22d	1	0.42mi
2633 N 165th St Unit 1 Omaha, NE	5.0	4.0	3015	$3,200	$1.06	15d	1	0.42mi
4309 N 175th Ave Omaha, NE	4.0	3.0	2970	$2,995	$1.01	24d	1	0.98mi
17214 Meredith Ave Unit LO Omaha, NE	4.0	3.0	2605	$3,100	$1.19	2d	1	1.03mi

Listing history 4 events

1. 2026-05-04
   status Pending 858-char remark

   Show marketing remark (858 chars)

   Welcome home to this spacious property featuring an impressive two-story entry filled with natural light and beautiful hardwood floors. The open main level offers great flow between the living spaces and kitchen, making it ideal for everyday living and entertaining. You'll love the abundant cabinetry in the kitchen, along with stainless steel appliances, a center island, and a bright dining area. The comfortable living room includes large windows and a cozy fireplace. Upstairs you'll find generously sized bedrooms including a spacious primary suite with double vanity, whirpool tub, separate shower, and walk-in closet. The expansive unfinished basement offers endless possibilities for future finishing, additional living space, or recreation area. The main floor office could also be used for a bedroom. Desirable location in Elkhorn School District!

2. 2026-04-22
   price $385,000 858-char remark

   Show marketing remark (858 chars)

   Welcome home to this spacious property featuring an impressive two-story entry filled with natural light and beautiful hardwood floors. The open main level offers great flow between the living spaces and kitchen, making it ideal for everyday living and entertaining. You'll love the abundant cabinetry in the kitchen, along with stainless steel appliances, a center island, and a bright dining area. The comfortable living room includes large windows and a cozy fireplace. Upstairs you'll find generously sized bedrooms including a spacious primary suite with double vanity, whirpool tub, separate shower, and walk-in closet. The expansive unfinished basement offers endless possibilities for future finishing, additional living space, or recreation area. The main floor office could also be used for a bedroom. Desirable location in Elkhorn School District!

3. 2026-03-19
   price $400,000 858-char remark

   Show marketing remark (858 chars)

   Welcome home to this spacious property featuring an impressive two-story entry filled with natural light and beautiful hardwood floors. The open main level offers great flow between the living spaces and kitchen, making it ideal for everyday living and entertaining. You'll love the abundant cabinetry in the kitchen, along with stainless steel appliances, a center island, and a bright dining area. The comfortable living room includes large windows and a cozy fireplace. Upstairs you'll find generously sized bedrooms including a spacious primary suite with double vanity, whirpool tub, separate shower, and walk-in closet. The expansive unfinished basement offers endless possibilities for future finishing, additional living space, or recreation area. The main floor office could also be used for a bedroom. Desirable location in Elkhorn School District!

4. 2026-03-07
   listed $425,000 New 858-char remark

   Show marketing remark (858 chars)

   Welcome home to this spacious property featuring an impressive two-story entry filled with natural light and beautiful hardwood floors. The open main level offers great flow between the living spaces and kitchen, making it ideal for everyday living and entertaining. You'll love the abundant cabinetry in the kitchen, along with stainless steel appliances, a center island, and a bright dining area. The comfortable living room includes large windows and a cozy fireplace. Upstairs you'll find generously sized bedrooms including a spacious primary suite with double vanity, whirpool tub, separate shower, and walk-in closet. The expansive unfinished basement offers endless possibilities for future finishing, additional living space, or recreation area. The main floor office could also be used for a bedroom. Desirable location in Elkhorn School District!

ⓘ 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: $5,222 · $435/mo
• Projected year-2 tax: $6,660 · $555/mo
• Expected delta: +$1,439/yr (+$120/mo · 27.6%)

ⓘ 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: $36,914
• − Mortgage interest: −$21,566
• − Property taxes: −$5,222
• − Insurance: −$1,925
• − Repairs & maintenance: −$2,953
• − Management: −$2,953
• − Depreciation: −$11,200
• Taxable loss: −$8,905
• Est. tax savings @ 24.0%: +$2,137
• After-tax cash flow: $-75/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: Elkhorn Public Schools
• NCES district ID: 3170110
• Math proficiency: 77% ▼ -7.00%
• Reading proficiency: 76% ▼ -6.00%
• Median HH income: $96,478
• Composite: 69.21/100
• National rank: #318
• State rank: #1 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): 34,501
• Household income: $121,165
• Rent vs Own: 23.6% rent · 76.4% own
• Severe rent burden: 550.0

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 (77%)
• Race & ethnicity: White 77% Two or more races 8% Black 6% Hispanic / Latino 6% Asian 6%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Romanian 4% Italian 3% Portuguese 3%
• Foreign-born: 8% · Canada, Vietnam, China
• Languages at home: 89% English-only · Other Indo-European 3% Spanish 3% 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: ▼ -40.81%
• Current HPI: 223.573
• Rent YoY: ▲ 2.54%
• 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

-9.4% since first listed

4 events — show timeline

• 2026-05-04 Pending — GPRMLS
• 2026-04-22 Price Changed $385,000 GPRMLS
• 2026-03-19 Price Changed $400,000 GPRMLS
• 2026-03-07 Listed $425,000 GPRMLS

Property tax history

+1.3%/yr

Latest (2025): $5,222 · +0.4% YoY. Source: county tax records.