5518 S 155th St · Omaha, NE 68137

$315,000

3 bd · 2.5 ba · 1,837 sqft · Other public records · 43 Days on market

Built 1989 7,620 sqft lot $171/sqft · 87% above area Est $482k · 35% under

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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 +6.9/30.0
• Schools +5.3/10.0
• Livability +4.2/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• 1% rule +1.7/10.0
• DSCR +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

You will fall in love the minute you pull in the drive! Fantastic curb appeal will invite you in! Roomy entryway. Two living rooms on main level. Updated kitchen, appliances stay, and offers dining room. Private backyard is set up for entertaining. Perfect sized primary bedroom with updated 3/4 bathroom. Additional living room in lower level with lots of storage! This well taken care of home is ready for you to move right in! Showings start Friday at noon!

Key facts

• 7,620 sq ft lot
• 2 garage spots
• Built 1989

Property features AI

Exterior

• Parking: Attached garage with 2 covered spaces (2 total parking spaces)
• Utilities: Public water
• Home design: Single-family residence; Tri-level; Not new / not a model; Built in 1989; Below-grade finished area included
• Construction: Vinyl siding; Composition roof; Other foundation
• Exterior features: Patio; Chain-link fencing; City lot, up to 1/4 acre

Interior

• Kitchen: Range; Oven; Refrigerator; Wood flooring in kitchen
• Bedrooms: Master bedroom (lower level) with vinyl flooring; Bedroom 2 (lower level) with vinyl flooring; Bedroom 3 (lower level) with vinyl flooring
• Flooring: Carpet; Wood; Laminate; Vinyl
• Bathrooms: 2 bathrooms total — includes full, three-quarter, and half bath configuration
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Central vacuum; Partially finished basement; Direct-vent gas fireplace (1)
• Laundry & utility: Laundry area with concrete floor

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath other listed at $315k.

Deal economics

• At list price, monthly cash flow is $-480 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $230k (26.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $212k (32.5% below list).
• Recommended offer: $212k (32.5% below list) — sets the bar for 1% rule.
• Cap rate 4.5% vs local median 3.6% in Omaha — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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.
• Millard Public Schools (urban): math 58% / reading 60% proficiency, ranked #13 of 111 in NE (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 13% free/reduced lunch — higher-income household profile.
• Zoned schools: Ackerman Elementary School (math 71% / reading 74%, grade A, #26 of 502 statewide, top 5%, 483 students, 24% FRL); Harry Andersen Middle School (math 43% / reading 49%, grade D+, #60 of 128 statewide, top 48%, 911 students, 31% FRL); Millard South High School (math 51% / reading 54%, grade C-, #97 of 261 statewide, top 37%, 2,607 students, 36% FRL) — zoned schools average 31% FRL vs 13% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.6%/yr); 113 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 4,539 units permitted in Douglas County in 2024 (2,583 in 5+ unit buildings).
• This rent runs 32% of the median local income ($81k/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 $2k of loan paydown is wiped out by about $9k 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 43 days — a 3% lower offer ($306k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 25y 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 $265k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $212,471 (32.5% 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 43 days. Have you received any prior offers? Is the seller open to a 33% 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: 0.67% ✗
• Cap rate: 4.47%
• Cash-on-cash: -6.53%
• DSCR: 0.71
• GRM: 12.4

CMA / ARV

• ARV (median comp): $481,709
• List price: $315,000
• Delta: -34.61%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.58% rent growth · sell at horizon

5-year hold

• IRR: -26.9%
• Equity multiple: 0.09×
• Total profit: $-80,335
• Equity at exit: $46,968

10-year hold

• IRR: -22.7%
• Equity multiple: -0.18×
• Total profit: $-104,043
• Equity at exit: $27,235

Cash invested: $88,200 (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 68137

• Rents YoY: 3.6%
• Active inventory: 113
• Price-to-rent: 12.4×

Monthly cashflow live

• Estimated rent: $2,125 high
• Mortgage (P&I): −$1,652
• Tax from tax record: −$375 /mo · $4,502/yr
• Insurance: −$131
• HOA: −$0
• Vacancy / Maint / Mgmt: −$446
• Net cashflow: $-480

Break-even live

Break-even rent $2,732

Max offer price $230,240

Occupancy floor —

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: $78,750
• Closing costs: $9,450
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5380 S 156th Ct Omaha, NE	1.0–3.0	1.0–2.0	1088	$1,815	$1.67	2d	10	0.08mi
5723 S 152nd Avenue Cir Omaha, NE	3.0	3.0	1866	$2,100	$1.13	43d	1	0.39mi
4955 Lakeshore Dr Unit 1 Omaha, NE	4.0	3.0	2300	$3,000	$1.30	19d	1	0.48mi
14735 W Plz Omaha, NE	1.0–3.0	1.0–1.5	1469	$1,680	$1.14	2d	12	0.76mi
16536 Washington St Omaha, NE	4.0	3.0	1994	$2,700	$1.35	21d	1	0.86mi
16556 Monroe St Omaha, NE	3.0	3.0	1742	$2,150	$1.23	43d	1	1.05mi
16911 N Cir Omaha, NE	3.0	3.0	2321	$2,450	$1.06	23d	1	1.17mi
16911 N Cir Omaha, NE	3.0	3.0	2320	$2,450	$1.06	14d	1	1.17mi
7106 S 145th St Omaha, NE	4.0	3.0	1720	$2,100	$1.22	14d	1	1.29mi

Listing history 31 events

1. 2026-06-18
   days on market $315,000 Active 43 DOM
2. 2026-06-17
   days on market $315,000 Active 42 DOM
3. 2026-06-16
   days on market $315,000 Active 41 DOM
4. 2026-06-15
   days on market $315,000 Active 40 DOM
5. 2026-06-13
   days on market $315,000 Active 38 DOM
6. 2026-06-10
   days on market $315,000 Active 35 DOM
7. 2026-06-09
   days on market $315,000 Active 34 DOM
8. 2026-06-08
   days on market $315,000 Active 33 DOM
9. 2026-06-07
   days on market $315,000 Active 32 DOM
10. 2026-06-05
    days on market $315,000 Active 29 DOM
11. 2026-06-03
    days on market $315,000 Active 28 DOM
12. 2026-06-03
    days on market $315,000 Active 27 DOM
13. 2026-06-01
    days on market $315,000 Active 26 DOM
14. 2026-05-31
    days on market $315,000 Active 25 DOM
15. 2026-05-06
    listed $315,000 New 1028-char remark
16. 2021-07-26
    soldstatus $265,000
17. 2021-06-21
    soldstatus $265,000 Sold 460-char remark

    Show marketing remark (460 chars)

    You will fall in love the minute you pull in the drive! Fantastic curb appeal will invite you in! Roomy entryway. Two living rooms on main level. Updated kitchen, appliances stay, and offers dining room. Private backyard is set up for entertaining. Perfect sized primary bedroom with updated 3/4 bathroom. Additional living room in lower level with lots of storage! This well taken care of home is ready for you to move right in! Showings start Friday at noon!

18. 2021-05-23
    status Pending 460-char remark

    Show marketing remark (460 chars)

    You will fall in love the minute you pull in the drive! Fantastic curb appeal will invite you in! Roomy entryway. Two living rooms on main level. Updated kitchen, appliances stay, and offers dining room. Private backyard is set up for entertaining. Perfect sized primary bedroom with updated 3/4 bathroom. Additional living room in lower level with lots of storage! This well taken care of home is ready for you to move right in! Showings start Friday at noon!

19. 2021-05-20
    listed $245,000 Active - New 460-char remark

    Show marketing remark (460 chars)

    You will fall in love the minute you pull in the drive! Fantastic curb appeal will invite you in! Roomy entryway. Two living rooms on main level. Updated kitchen, appliances stay, and offers dining room. Private backyard is set up for entertaining. Perfect sized primary bedroom with updated 3/4 bathroom. Additional living room in lower level with lots of storage! This well taken care of home is ready for you to move right in! Showings start Friday at noon!

20. 2016-06-20
    soldstatus $185,000
21. 2016-06-15
    soldstatus $185,000 Sold

    Show marketing remark (392 chars)

    Wow, what and amazing home! This beautiful Tri-Level, 3 Bedroom, 3 Bathroom home has been completely updated. From remolding the kitchen and bathrooms to new floor finishes and updated trim and doors. New roof, furnace and AC unit in 2013!!! Millard Public schools minutes from your front door. Great backyard to grill out and enjoy the outdoors. Welcome your buyers to their new home today!

22. 2016-05-10
    status Pending

    Show marketing remark (392 chars)

    Wow, what and amazing home! This beautiful Tri-Level, 3 Bedroom, 3 Bathroom home has been completely updated. From remolding the kitchen and bathrooms to new floor finishes and updated trim and doors. New roof, furnace and AC unit in 2013!!! Millard Public schools minutes from your front door. Great backyard to grill out and enjoy the outdoors. Welcome your buyers to their new home today!

23. 2016-05-09
    listed $178,500 Active - New

    Show marketing remark (392 chars)

    Wow, what and amazing home! This beautiful Tri-Level, 3 Bedroom, 3 Bathroom home has been completely updated. From remolding the kitchen and bathrooms to new floor finishes and updated trim and doors. New roof, furnace and AC unit in 2013!!! Millard Public schools minutes from your front door. Great backyard to grill out and enjoy the outdoors. Welcome your buyers to their new home today!

24. 2005-11-22
    soldstatus $144,000
25. 2005-11-18
    soldstatus $143,500
26. 2005-10-23
    historical
27. 2005-08-16
    listed $149,000
28. 2001-04-26
    soldstatus $122,000
29. 2001-04-23
    soldstatus $122,000
30. 2001-03-27
    historical
31. 2001-01-08
    listed $119,950

ⓘ 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: $4,502 · $375/mo
• Projected year-2 tax: $5,450 · $454/mo
• Expected delta: +$947/yr (+$79/mo · 21.0%)

ⓘ 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: $25,497
• − Mortgage interest: −$17,645
• − Property taxes: −$4,502
• − Insurance: −$1,575
• − Repairs & maintenance: −$2,040
• − Management: −$2,040
• − Depreciation: −$9,164
• Taxable loss: −$11,469
• Est. tax savings @ 24.0%: +$2,752
• After-tax cash flow: $-3,005/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: Millard Public Schools
• NCES district ID: 3173740
• Math proficiency: 58% ▼ -7.00%
• Reading proficiency: 60% ▼ -6.00%
• Median HH income: $81,146
• Composite: 53.23/100
• National rank: #1500
• State rank: #13 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): 24,277
• Household income: $80,739
• Rent vs Own: 36.8% rent · 63.2% own
• Severe rent burden: 728.0

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 9% Two or more races 7% Asian 5% Black 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 4% Lithuanian 2% Portuguese 2%
• Foreign-born: 9% · Canada, Vietnam, South Korea
• Languages at home: 90% English-only · Spanish 5% Other Asian/Pacific 2% 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: ▼ -240.79%
• Current HPI: 231.568
• Rent YoY: ▲ 3.58%
• 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

+162.6% since first listed

17 events — show timeline

• 2026-05-06 Listed $315,000 GPRMLS
• 2021-07-26 Sold (Public Records) $265,000 Public Records
• 2021-06-21 Sold (MLS) $265,000 GPRMLS
• 2021-05-23 Pending — GPRMLS
• 2021-05-20 Listed $245,000 GPRMLS
• 2016-06-20 Sold (Public Records) $185,000 Public Records
• 2016-06-15 Sold (MLS) $185,000 GPRMLS
• 2016-05-10 Pending — GPRMLS
• 2016-05-09 Listed $178,500 GPRMLS
• 2005-11-22 Sold (Public Records) $144,000 Public Records
• 2005-11-18 Sold (MLS) $143,500 GPRMLS
• 2005-10-23 Listing Removed — GPRMLS
• 2005-08-16 Listed $149,000 GPRMLS
• 2001-04-26 Sold (Public Records) $122,000 Public Records
• 2001-04-23 Sold (MLS) $122,000 GPRMLS
• 2001-03-27 Listing Removed — GPRMLS
• 2001-01-08 Listed $119,950 GPRMLS

Property tax history

+3.6%/yr

Latest (2025): $4,502 · -3.5% YoY. Source: county tax records.