13954 P St · Omaha, NE 68137

$180,000

3 bd · 1.0 ba · 1,040 sqft · SingleFamily public records · 6 Days on market

Built 1962 7,187 sqft lot Est $228k · 21% 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).

• Cash flow +17.3/30.0
• ARV discount +15.0/15.0
• DSCR +5.4/10.0
• Schools +5.3/10.0
• 1% rule +4.8/10.0
• Livability +4.2/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Don't miss out on this 3 bedroom raised ranch home. The main floor offers a large living room, good sized kitchen with lots of cupboard space and an informal dining area. Along with beautiful wood floors throughout and most of the windows have been replaced with Champion windows. The partially finished basement offers a 3/4 bath and a room perfect for an office or rec room, lots of storage space and laundry. The widened driveway offers ample parking and the fully fenced backyard is a blank canvas. Conveniently located in Millard this home is ready for it's new owners to come in and make it their own. Great opportunity for sweat equity.

Key facts

• Raised ranch home
• Good sized kitchen
• 3/4 bath

Tags

• RAISED RANCH HOME
• LARGE LIVING ROOM
• GOOD SIZED KITCHEN
• INFORMAL DINING AREA
• PARTIALLY FINISHED BASEMENT
• 3/4 BATH

Property features AI

Exterior

• Parking: Attached garage (1-car) with built-in garage and extra parking slab; One covered parking space and available open parking
• Utilities: Public water; Public sewer
• Home design: Single-family residential home built in 1962; Not a new or model home; Living area above grade plus finished below-grade space
• Construction: Composition roof; Concrete perimeter foundation; Built in 1962
• Exterior features: Porch; Chain link full fence; Paved road access; Lot is level to sloped, subdivided city lot (approximately 60 x 120)

Interior

• Kitchen: Kitchen on main floor with wood flooring and window coverings
• Bedrooms: Primary bedroom on main floor with wood flooring, window coverings and ceiling fan (approx. 11 x 13.25); Additional bedrooms on main floor with wood flooring and window coverings
• Flooring: Wood flooring in living room, kitchen and bedrooms; Ceramic tile in basement rec room
• Bathrooms: Two bathrooms total — one full and one three-quarter; main-level and below-grade bathrooms present
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Daylight, partially finished basement with ceramic tile flooring in the rec room; No fireplaces

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $133 ($2k/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 $177k (1.6% below list).
• Recommended offer: $177k (1.6% below list) — sets the bar for 1% rule.
• Cap rate 7.2% 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.
• 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: Bryan Elementary School (math 37% / reading 42%, grade F, #346 of 502 statewide, top 74%, 381 students, 57% FRL); Millard Central Middle School (math 39% / reading 41%, grade F, #84 of 128 statewide, top 65%, 825 students, 47% 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 47% FRL vs 13% district-wide (33 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 44% at this address vs 59% district-wide (-15 pts) — the specific schools serving this property underperform the Millard Public Schools average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+3.6%/yr); 113 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 4,539 units permitted in Douglas County in 2024 (2,583 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $177,190 (1.6% below list)

Questions for the listing agent

1. Built in 1962 — 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. 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?
4. 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.
5. 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.
6. 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: 0.98% ✗
• Cap rate: 7.18%
• Cash-on-cash: 3.18%
• DSCR: 1.14
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $227,760
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
14440 Weir Cir	0.37mi	3/1.5	1,040 (0%)	5mo	$260,000	$250	77
14112 Orchard Ave	0.17mi	2/1.0 (-1)	1,162 (+12%)	2mo	$214,000	$184	66
13953 Weir St	0.07mi	3/2.0	1,172 (+13%)	11mo	$166,000	$142	63
14141 N St	0.21mi	3/1.0	960 (-8%)	22mo	$210,000	$219	59
14059 Weir St	0.13mi	3/1.5	912 (-12%)	18mo	$225,000	$247	56
14167 Karl St	0.32mi	3/1.0	1,190 (+14%)	10mo	$235,000	$197	52
14205 Weir St	0.19mi	3/2.0	936 (-10%)	22mo	$225,000	$240	52
4971 S 134th St	0.63mi	2/1.0 (-1)	1,008 (-3%)	13mo	$205,000	$203	49

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 · 3.58% rent growth · sell at horizon

5-year hold

• IRR: -10.6%
• Equity multiple: 0.61×
• Total profit: $-19,590
• Equity at exit: $26,839

10-year hold

• IRR: -0.5%
• Equity multiple: 0.97×
• Total profit: $-1,634
• Equity at exit: $15,563

Cash invested: $50,400 (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: 8.5×

Monthly cashflow live

• Estimated rent: $1,772 high
• Mortgage (P&I): −$944
• Tax from tax record: −$247 /mo · $2,969/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$372
• Net cashflow: $133

Break-even live

Break-even rent $1,603

Max offer price $180,000

Occupancy floor 87%

Sensitivity live

Price	-10% $235	-5% $184	+0% $133	+5% $82	+10% $32
Rent	-10% $-7	-5% $63	+0% $133	+5% $203	+10% $273
Rate	-1.0pp $224	-0.5pp $179	base $133	+0.5pp $87	+1.0pp $39

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4865 Marshall Dr Unit 109 Omaha, NE	2.0	1.0	821	$995	$1.21	11d	1	0.28mi
14735 W Plz Omaha, NE	1.0–3.0	1.0–1.5	1469	$1,680	$1.14	4d	12	0.71mi
12741 Woodcrest Plz #317 Omaha, NE	2.0	2.0	1019	$2,400	$2.36	44d	1	1.07mi
13616 Emiline Cir Omaha, NE	3.0	1.5	1296	$2,145	$1.66	4d	1	1.19mi
12741 Woodcrest Dr Unit 12841 Condo Omaha, NE	2.0	2.0	1019	$2,200	$2.16	4d	1	1.32mi
5380 S 156th Ct Omaha, NE	1.0–3.0	1.0–2.0	1088	$1,815	$1.67	4d	10	1.36mi
13106 C Plz Omaha, NE	2.0–4.0	1.0–2.0	1043	$1,499	$1.44	3d	5	1.38mi
13530 Josephine St Omaha, NE	3.0	2.0	1440	$2,095	$1.45	15d	1	1.43mi

Listing history 1 events

1. 2026-05-22
   listed $180,000 New

ⓘ 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: $2,969 · $247/mo
• Projected year-2 tax: $3,114 · $260/mo
• Expected delta: +$145/yr (+$12/mo · 4.9%)

ⓘ 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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,263
• − Mortgage interest: −$10,083
• − Property taxes: −$2,969
• − Insurance: −$900
• − Repairs & maintenance: −$1,701
• − Management: −$1,701
• − Depreciation: −$5,236
• Taxable loss: −$1,328
• Est. tax savings @ 24.0%: +$319
• After-tax cash flow: $1,920/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

1 event — show timeline

• 2026-05-22 Listed $180,000 GPRMLS

Property tax history

+3.3%/yr

Latest (2025): $2,969 · -3.9% YoY. Source: county tax records.