4531 N 39th St · Omaha, NE 68111

$175,000

4 bd · 1.0 ba · 1,668 sqft · Other public records · 91 Days on market

Built 1910 6,534 sqft lot

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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 +21.8/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 1% rule +5.0/10.0
• Livability +4.2/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0

Listing remarks

Contract Pending- On market for back-up offers. Welcome to this beautifully updated 3-bed, 1-bath home in North Omaha! Step inside to find fresh paint, refinished hardwood floors, and a bright, open floor plan. The living room flows seamlessly into a fully remodeled kitchen featuring new cabinetry, butcher block countertops, stainless steel appliances, and a breakfast bar perfect for entertaining. The spacious bathroom has been completely modernized with tiled shower walls, new vanity, and stylish fixtures. Large windows fill the home with natural light, creating a warm and inviting atmosphere. Outside, enjoy a private backyard with a rare oversized 2-car detached garage, offering plenty of

Key facts

• Updated home
• Breakfast bar
• 6,534 sq ft lot

Tags

• UPDATED HOME
• REFINISHED HARDWOOD FLOORS
• FULLY REMODELED KITCHEN
• BUTCHER BLOCK COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• BREAKFAST BAR

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath other listed at $175k.

Deal economics

• At list price, monthly cash flow is $272 ($3k/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 $175k (0.0% below list).
• Recommended offer: $159k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.2% 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.
• Omaha Public Schools (urban): math 20% / reading 28% proficiency, ranked #110 of 111 in NE (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Central Park Elementary School (math 12% / reading 17%, grade F, #484 of 502 statewide, top 97%, 359 students, 0% FRL); King Science/Tech Magnet Middle School (math 15% / reading 24%, grade F, #121 of 128 statewide, top 95%, 667 students, 0% FRL); North High School (math 21% / reading 25%, grade F, #247 of 261 statewide, top 95%, 1,796 students, 0% FRL) — zoned schools average 0% FRL vs 62% district-wide (62 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+3.2%/yr); 139 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 4,539 units permitted in Douglas County in 2024 (2,583 in 5+ unit buildings).

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Douglas County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.2% rent growth), your $49k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($159k) is reasonable based on typical stale-listing flexibility.
• 17 sale attempts since 24y 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 $75k; list at $175k implies a 133% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $159,250 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — 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. 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?
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: 1.00% ✗
• Cap rate: 8.16%
• Cash-on-cash: 6.66%
• DSCR: 1.30
• GRM: 8.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.22% rent growth · sell at horizon

5-year hold

• IRR: 29.2%
• Equity multiple: 3.31×
• Total profit: $112,978
• Equity at exit: $157,654

10-year hold

• IRR: 25.4%
• Equity multiple: 7.53×
• Total profit: $319,812
• Equity at exit: $339,987

Cash invested: $49,000 (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 68111

• Home prices YoY: 4.0%
• Rents YoY: 3.2%
• Active inventory: 139
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,750 high
• Mortgage (P&I): −$918
• Tax from tax record: −$120 /mo · $1,438/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$367
• Net cashflow: $272

Break-even live

Break-even rent $1,406

Max offer price $175,000

Occupancy floor 79%

Sensitivity live

Price	-10% $371	-5% $321	+0% $272	+5% $222	+10% $173
Rent	-10% $134	-5% $203	+0% $272	+5% $341	+10% $410
Rate	-1.0pp $360	-0.5pp $316	base $272	+0.5pp $227	+1.0pp $180

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4707 N 40th Ave Omaha, NE	3.0	1.0	1337	$1,500	$1.12	22d	1	0.12mi
4240 Fowler Ave Omaha, NE	4.0	2.0	1956	$1,895	$0.97	24d	1	0.35mi
4657 Camden Ave Omaha, NE	3.0	1.0	1250	$1,500	$1.20	44d	1	0.80mi
3535 N 45th Ave Omaha, NE	3.0	1.0	1325	$1,800	$1.36	44d	1	0.84mi
3808 N 48th St Omaha, NE	3.0	2.0	1400	$2,000	$1.43	4d	1	0.92mi
3508 N 47th Ave Omaha, NE	3.0	1.0	1425	$1,600	$1.12	20d	1	1.00mi
4276 Binney St Omaha, NE	4.0	1.0	1358	$1,495	$1.10	44d	1	1.13mi
4706 Kansas Ave Omaha, NE	5.0	2.0	1412	$1,750	$1.24	15d	1	1.14mi
2416 Fowler Ave Omaha, NE	4.0	2.0	2169	$1,950	$0.90	15d	1	1.18mi
4655 Curtis Ave Omaha, NE	3.0	2.0	2000	$1,900	$0.95	44d	1	1.18mi
2873 Kansas Ave Omaha, NE	3.0	2.0	1112	$1,450	$1.30	24d	1	1.20mi
4026 Bauman Ave Omaha, NE	4.0	1.0	1350	$1,695	$1.26	44d	1	1.22mi
5348 N 25th St Omaha, NE	4.0	1.0	1446	$1,600	$1.11	44d	1	1.28mi
3002 N 48th Ave Omaha, NE	4.0	2.0	1205	$1,550	$1.29	24d	1	1.32mi
4874 Maple St Omaha, NE	3.0	1.0	1098	$1,545	$1.41	44d	1	1.39mi
4201 N 22nd St Omaha, NE	3.0	1.0	1380	$1,545	$1.12	44d	1	1.41mi
2436 Laurel Ave Omaha, NE	3.0	1.0	1582	$1,495	$0.95	24d	1	1.41mi
4114 N 54th St Omaha, NE	3.0	2.0	1683	$1,745	$1.04	4d	1	1.42mi
2914 N 49th Ave Omaha, NE	3.0	1.0	1375	$1,615	$1.17	24d	1	1.43mi

Listing history 45 events

1. 2026-04-13
   status Pending
2. 2026-01-15
   historical $1,650
3. 2026-01-12
   listed $175,000 New
4. 2025-12-31
   price $1,650
5. 2025-11-21
   listed $1,850
6. 2025-10-21
   historical $1,850
7. 2025-09-23
   historical
8. 2025-09-11
   listed $180,000 New
9. 2025-08-26
   listed $1,850
10. 2024-10-19
    historical $1,800
11. 2024-09-10
    listed $1,800
12. 2024-02-01
    historical $1,500
13. 2023-12-04
    historical
14. 2023-10-27
    listed $1,500
15. 2023-10-13
    listed $175,000 New
16. 2022-08-06
    historical
17. 2022-07-26
    price $165,000
18. 2022-07-08
    listed $175,000 Active - New
19. 2021-07-09
    soldstatus $75,000
20. 2021-06-30
    soldstatus $75,000 Sold
21. 2021-06-21
    status Pending
22. 2021-05-25
    listed $90,000 Active - New
23. 2021-05-21
    soldstatus $185,000
24. 2021-04-06
    historical
25. 2021-01-28
    listed $85,000 Active - New
26. 2015-03-16
    soldstatus $30,000 Sold
27. 2015-02-28
    status Pending
28. 2014-09-23
    listed $35,000 Active
29. 2014-09-03
    historical
30. 2014-04-02
    listed $35,000
31. 2008-02-04
    soldstatus $26,500
32. 2008-01-11
    historical
33. 2007-11-27
    listed $30,000
34. 2006-06-07
    soldstatus $73,000
35. 2006-06-02
    soldstatus $73,000
36. 2006-04-27
    historical
37. 2006-04-24
    listed $73,000
38. 2006-04-24
    historical
39. 2006-02-28
    listed $65,000
40. 2006-02-28
    historical
41. 2005-10-20
    listed $67,950
42. 2002-08-30
    soldstatus $47,900
43. 2002-08-12
    historical
44. 2002-08-12
    soldstatus $47,900
45. 2002-05-20
    listed $49,900

ⓘ 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: $1,438 · $120/mo
• Projected year-2 tax: $3,028 · $252/mo
• Expected delta: +$1,590/yr (+$132/mo · 110.5%)

ⓘ 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 ≥105°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,997
• − Mortgage interest: −$9,803
• − Property taxes: −$1,438
• − Insurance: −$875
• − Repairs & maintenance: −$1,680
• − Management: −$1,680
• − Depreciation: −$5,091
• Taxable income: $431
• Est. tax owed @ 24.0%: −$103
• After-tax cash flow: $3,159/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: Omaha Public Schools
• NCES district ID: 3174820
• Math proficiency: 20% ▼ -10.00%
• Reading proficiency: 28% ▼ -5.00%
• Median HH income: $46,039
• Composite: 20.83/100
• National rank: #8502
• State rank: #110 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): 24,210
• Household income: $42,185
• Rent vs Own: 60.3% rent · 39.7% own
• Severe rent burden: 1913.0

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: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: Black 52% Hispanic / Latino 21% White 17% Two or more races 15% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Ukrainian 3% Lithuanian 0%
• Foreign-born: 14% · Canada, Philippines
• Languages at home: 75% English-only · Spanish 16% Other Asian/Pacific 3% French/Haitian/Cajun 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: ▲ 13.82%
• Current HPI: 358.7174
• Rent YoY: ▲ 3.22%
• 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

-96.7% since first listed

45 events — show timeline

• 2026-04-13 Pending — GPRMLS
• 2026-01-15 Rental Removed $1,650 SHOWMOJO
• 2026-01-12 Listed $175,000 GPRMLS
• 2025-12-31 Price Changed $1,650 SHOWMOJO
• 2025-11-21 Listed for Rent $1,850 SHOWMOJO
• 2025-10-21 Rental Removed $1,850 SHOWMOJO
• 2025-09-23 Listing Removed — GPRMLS
• 2025-09-11 Listed $180,000 GPRMLS
• 2025-08-26 Listed for Rent $1,850 SHOWMOJO
• 2024-10-19 Rental Removed $1,800 APPFOLIO
• 2024-09-10 Listed for Rent $1,800 APPFOLIO
• 2024-02-01 Rental Removed $1,500 APPFOLIO
• 2023-12-04 Listing Removed — GPRMLS
• 2023-10-27 Listed for Rent $1,500 APPFOLIO
• 2023-10-13 Listed $175,000 GPRMLS
• 2022-08-06 Listing Removed — GPRMLS
• 2022-07-26 Price Changed $165,000 GPRMLS
• 2022-07-08 Listed $175,000 GPRMLS
• 2021-07-09 Sold (Public Records) $75,000 Public Records
• 2021-06-30 Sold (MLS) $75,000 GPRMLS
• 2021-06-21 Pending — GPRMLS
• 2021-05-25 Listed $90,000 GPRMLS
• 2021-05-21 Sold (Public Records) $185,000 Public Records
• 2021-04-06 Listing Removed — GPRMLS
• 2021-01-28 Listed $85,000 GPRMLS
• 2015-03-16 Sold (MLS) $30,000 GPRMLS
• 2015-02-28 Pending — GPRMLS
• 2014-09-23 Listed $35,000 GPRMLS
• 2014-09-03 Listing Removed — GPRMLS
• 2014-04-02 Listed $35,000 GPRMLS
• 2008-02-04 Sold (MLS) $26,500 GPRMLS
• 2008-01-11 Listing Removed — GPRMLS
• 2007-11-27 Listed $30,000 GPRMLS
• 2006-06-07 Sold (Public Records) $73,000 Public Records
• 2006-06-02 Sold (MLS) $73,000 GPRMLS
• 2006-04-27 Listing Removed — GPRMLS
• 2006-04-24 Listing Removed — GPRMLS
• 2006-04-24 Listed $73,000 GPRMLS
• 2006-02-28 Listing Removed — GPRMLS
• 2006-02-28 Listed $65,000 GPRMLS
• 2005-10-20 Listed $67,950 GPRMLS
• 2002-08-30 Sold (MLS) $47,900 GPRMLS
• 2002-08-12 Sold (Public Records) $47,900 Public Records
• 2002-08-12 Listing Removed — GPRMLS
• 2002-05-20 Listed $49,900 GPRMLS

Property tax history

+1.3%/yr

Latest (2025): $1,438 · +1.4% YoY. Source: county tax records.