2331 N 70th St · Lincoln, NE 68507

$219,000

3 bd · 2.0 ba · 1,508 sqft · SingleFamily public records · 3 Days on market

Built 1959 6,337 sqft lot $145/sqft · at area comps Est $273k · 20% 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 +14.4/30.0
• DSCR +4.4/10.0
• Schools +4.4/10.0
• Livability +4.2/5.0
• 1% rule +3.8/10.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Pre sold for stats only

Key facts

• 6,337 sq ft lot
• Garage
• Built 1959

Property features AI

Exterior

• Parking: Attached 1-car garage; Extra parking slab / open parking (additional space)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Not new (built in 1959); Total finished area about 1,908 square feet (approximately 1,008 above grade, ~900 below grade)
• Construction: Brick exterior; Block foundation; Built in 1959
• Exterior features: Deck; Partial fencing; Lot about 0.15 acre with dimensions ~105 x 60 x 105 x 60

Interior

• Kitchen: Includes oven, cooktop, refrigerator, dishwasher
• Bedrooms: Main floor primary bedroom (approximately 10 x 13); Main floor bedroom 2 (approximately 10 x 13); Main floor bedroom 3 (approximately 9 x 11); Basement bedroom 4 (approximately 10 x 11); Basement bedroom 5 (approximately 11 x 13)
• Bathrooms: Two bathrooms total: one full and one three-quarter; At least one main-level bathroom and one below-grade bathroom
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Walk-out basement; No fireplaces; Oven, Refrigerator, Dishwasher, Cooktop

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $219k.

Deal economics

• At list price, monthly cash flow is $45 ($543/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 $192k (12.2% below list).
• Recommended offer: $192k (12.2% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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.
• Zoned schools: Brownell Elementary School (math 37% / reading 52%, grade F, #289 of 502 statewide, top 63%, 337 students, 68% FRL); Mickle Middle School (math 53% / reading 55%, grade B-, #38 of 128 statewide, top 31%, 694 students, 46% FRL); Lincoln Northeast High School (math 34% / reading 36%, grade F, #207 of 261 statewide, top 79%, 1,812 students, 62% FRL) — zoned schools average 59% FRL vs 37% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.4%/yr); 100 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 1,940 units permitted in Lancaster County in 2024 (895 in 5+ unit buildings).
• This rent runs 33% of the median local income ($69k/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 $7k 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

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 10y 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.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $192,193 (12.2% below list)

Questions for the listing agent

1. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.88% ✗
• Cap rate: 6.54%
• Cash-on-cash: 0.89%
• DSCR: 1.04
• GRM: 9.5

CMA / ARV

• ARV (median comp): $272,993
• List price: $219,000
• Delta: -19.78%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2324 N 74th St	0.28mi	3/2.0	1,584 (+5%)	3mo	$275,000	$174	76
1617 Hays Dr	0.52mi	3/2.0	1,545 (+2%)	1mo	$252,500	$163	71
7500 Colby St	0.37mi	3/1.5	1,580 (+5%)	3mo	$300,000	$190	70
7341 Knox Ct	0.60mi	3/2.0	1,526 (+1%)	0mo	$299,500	$196	70
7311 Garland St	0.25mi	3/2.0	1,669 (+11%)	3mo	$250,000	$150	68
1820 N 62nd St	0.68mi	3/2.0	1,500 (-0%)	2mo	$226,000	$151	66
7320 Starr St	0.65mi	2/2.0 (-1)	1,516 (+0%)	2mo	$251,001	$166	62
6018 Baldwin Ave	0.71mi	3/1.0	1,502 (-0%)	2mo	$176,000	$117	61
7640 Holdrege St	0.71mi	3/2.0	1,386 (-8%)	3mo	$245,000	$177	51
1930 N 62nd St	0.65mi	3/2.0	1,346 (-11%)	1mo	$277,000	$206	51
3015 Strauss Ct	0.66mi	4/2.0 (+1)	1,628 (+8%)	2mo	$279,000	$171	49
1922 Donald St	0.60mi	3/1.0	1,309 (-13%)	2mo	$225,000	$172	45

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 · 2.37% rent growth · sell at horizon

5-year hold

• IRR: -15.6%
• Equity multiple: 0.45×
• Total profit: $-33,809
• Equity at exit: $32,654

10-year hold

• IRR: -8.2%
• Equity multiple: 0.50×
• Total profit: $-30,615
• Equity at exit: $18,935

Cash invested: $61,320 (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 68507

• Rents YoY: 2.4%
• Active inventory: 100
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,922 high
• Mortgage (P&I): −$1,148
• Tax from tax record: −$233 /mo · $2,800/yr
• Insurance: −$91
• HOA: −$0
• Vacancy / Maint / Mgmt: −$404
• Net cashflow: $45

Break-even live

Break-even rent $1,865

Max offer price $219,000

Occupancy floor 93%

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: $54,750
• Closing costs: $6,570
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2840 N Cotner Blvd Unit 1 Lincoln, NE	3.0	1.0	1450	$1,425	$0.98	43d	1	0.44mi
2210 Mirwyn Ct Lincoln, NE	3.0	3.0	1748	$2,000	$1.14	13d	1	0.55mi
2228 Mirwyn Ct Lincoln, NE	3.0	3.0	1748	$2,200	$1.26	43d	1	0.55mi
1648 Sawyer St Lincoln, NE	3.0	2.5	1547	$1,899	$1.23	43d	1	0.93mi
1025 N 63rd St Lincoln, NE	1.0–3.0	1.0–2.0	1157	$1,590	$1.37	13d	7	1.08mi
8229 Northwoods Dr Lincoln, NE	1.0–2.0	1.0–2.0	935	$1,649	$1.76	3d	5	1.12mi
8600 Leighton Ave Lincoln, NE	1.0–3.0	1.0–2.0	1144	$1,300	$1.14	1d	1	1.13mi
8430 Fremont St Lincoln, NE	1.0–3.0	1.0–2.0	1050	$2,380	$2.27	1d	22	1.47mi

Listing history 6 events

1. 2026-05-04
   status Pending 197-char remark
2. 2026-05-01
   listed $219,000 New 197-char remark
3. 2016-03-30
   soldstatus $90,000 23-char remark

   Show marketing remark (23 chars)

   Pre sold for stats only

4. 2016-02-24
   listed $90,000 23-char remark

   Show marketing remark (23 chars)

   Pre sold for stats only

5. 2016-02-24
   historical 23-char remark

   Show marketing remark (23 chars)

   Pre sold for stats only

6. 2008-07-14
   soldstatus $115,000

ⓘ 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: $2,800 · $233/mo
• Projected year-2 tax: $3,789 · $316/mo
• Expected delta: +$989/yr (+$82/mo · 35.3%)

ⓘ 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: $23,063
• − Mortgage interest: −$12,267
• − Property taxes: −$2,800
• − Insurance: −$1,095
• − Repairs & maintenance: −$1,845
• − Management: −$1,845
• − Depreciation: −$6,371
• Taxable loss: −$3,160
• Est. tax savings @ 24.0%: +$758
• After-tax cash flow: $1,302/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): 16,029
• Household income: $69,488
• Rent vs Own: 33.5% rent · 66.5% own
• Severe rent burden: 557.0

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% Two or more races 10% Hispanic / Latino 9% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 2% Romanian 2% Lithuanian 2%
• Foreign-born: 4% · Canada, China, Vietnam
• Languages at home: 94% English-only · Spanish 4% Vietnamese 1% Arabic 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: ▼ -273.66%
• Current HPI: 234.3628
• Rent YoY: ▲ 2.37%
• 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

+94.8% since first listed

7 events — show timeline

• 2026-06-04 Sold (MLS) $224,000 GPRMLS
• 2026-05-04 Pending — GPRMLS
• 2026-05-01 Listed $219,000 GPRMLS
• 2016-03-30 Sold (MLS) $90,000 GPRMLS
• 2016-02-24 Listing Removed — GPRMLS
• 2016-02-24 Listed $90,000 GPRMLS
• 2008-07-14 Sold (Public Records) $115,000 Public Records

Property tax history

+3.1%/yr

Latest (2025): $2,800 · -1.1% YoY. Source: county tax records.