5345 Franklin St · Lincoln, NE 68506

$219,900

3 bd · 1.0 ba · 1,666 sqft · SingleFamily public records · 16 Days on market

Built 1952 5,663 sqft lot Est $262k · 16% 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 +14.7/15.0
• Cash flow +12.6/30.0
• Schools +4.4/10.0
• Livability +4.2/5.0
• DSCR +3.8/10.0
• 1% rule +3.4/10.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

An attractive tree-lined street welcomes all to a pampered 3 bdrm/2 bath area home in SE Lincoln. This maintenance-free exterior, 1-1/2 story home ffers hardwood flooring in main floor bdrms and under the LR/hallway carpets. All appliances are included. There are some new windows, new doors, and newer cement leading to an over-sized detached garage. The owners have utilized professional lawn care. A spacious family room, .75 bath, office, workshop and storage space complete the basement. This home has been wonderfully maintained by the same owners for decades!

Key facts

• 5,663 sq ft lot
• Garage
• Built 1952

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $-29 ($-345/yr) — negative.
• To cash-flow at today's rent, offer at most $215k (2.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $185k (15.9% below list).
• Recommended offer: $185k (15.9% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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: Holmes Elementary School (math 47% / reading 62%, grade C, #161 of 502 statewide, top 38%, 409 students, 56% FRL); Lefler Middle School (math 46% / reading 45%, grade D+, #63 of 128 statewide, top 50%, 613 students, 61% FRL); Lincoln Southeast High School (math 51% / reading 52%, grade D+, #105 of 261 statewide, top 40%, 1,929 students, 16% FRL).
• Market conditions: Rents rising (+3.7%/yr); 156 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,940 units permitted in Lancaster County in 2024 (895 in 5+ unit buildings).
• This rent runs 31% of the median local income ($73k/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

• It's been on market 16 days — a 2% lower offer ($217k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 12y 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 $106k; list at $220k implies a 107% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $184,954 (15.9% 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. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.84% ✗
• Cap rate: 6.14%
• Cash-on-cash: -0.56%
• DSCR: 0.98
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $261,562
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5510 Sumner St	0.17mi	3/2.0	1,670 (+0%)	2mo	$255,000	$153	86
5625 South St	0.22mi	2/2.0 (-1)	1,608 (-4%)	2mo	$150,000	$93	73
5448 Oldham St	0.11mi	4/2.0 (+1)	1,516 (-9%)	1mo	$259,900	$171	70
5530 Normal Blvd	0.36mi	3/1.5	1,572 (-6%)	3mo	$211,000	$134	70
5601 Glade St	0.34mi	3/2.0	1,525 (-8%)	1mo	$275,000	$180	65
2340 S 58th St	0.46mi	3/2.0	1,765 (+6%)	1mo	$274,000	$155	64
5428 Normal Blvd	0.33mi	2/2.0 (-1)	1,556 (-7%)	3mo	$237,500	$153	62
5046 Normal Blvd	0.39mi	3/2.0	1,830 (+10%)	3mo	$230,000	$126	59
2131 S 60th St	0.47mi	2/1.5 (-1)	1,525 (-8%)	3mo	$239,900	$157	55
2645 S 55th St	0.56mi	2/1.5 (-1)	1,545 (-7%)	1mo	$265,000	$172	54
1645 48th St	0.41mi	2/1.5 (-1)	1,452 (-13%)	0mo	$238,000	$164	52
1319 S 49th St	0.54mi	2/2.0 (-1)	1,464 (-12%)	2mo	$230,000	$157	44

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 · 3.67% rent growth · sell at horizon

5-year hold

• IRR: -16.5%
• Equity multiple: 0.41×
• Total profit: $-36,201
• Equity at exit: $32,788

10-year hold

• IRR: -7.1%
• Equity multiple: 0.54×
• Total profit: $-28,622
• Equity at exit: $19,013

Cash invested: $61,572 (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 68506

• Rents YoY: 3.7%
• Active inventory: 156
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,850 medium
• Mortgage (P&I): −$1,153
• Tax from tax record: −$245 /mo · $2,941/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $-29

Break-even live

Break-even rent $1,886

Max offer price $214,818

Occupancy floor 97%

Sensitivity live

Price	-10% $96	-5% $33	+0% $-29	+5% $-91	+10% $-153
Rent	-10% $-175	-5% $-102	+0% $-29	+5% $44	+10% $117
Rate	-1.0pp $82	-0.5pp $27	base $-29	+0.5pp $-86	+1.0pp $-144

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5505 Sumner St Lincoln, NE	3.0	2.0	1600	$1,950	$1.22	22d	1	0.18mi
5218 High St Lincoln, NE	4.0	1.5	1769	$1,899	$1.07	45d	1	0.85mi
4125 High St Lincoln, NE	3.0	1.5	1600	$1,950	$1.22	22d	1	1.14mi
1042 Rockhurst Dr Lincoln, NE	3.0	2.5	1688	$2,495	$1.48	45d	1	1.18mi

Listing history 8 events

1. 2026-04-20
   status Pending
2. 2026-04-09
   status Back On Market
3. 2026-03-28
   status Pending
4. 2026-03-23
   listed $219,900 New
5. 2014-08-08
   soldstatus $106,000 566-char remark

   Show marketing remark (566 chars)

   An attractive tree-lined street welcomes all to a pampered 3 bdrm/2 bath area home in SE Lincoln. This maintenance-free exterior, 1-1/2 story home ffers hardwood flooring in main floor bdrms and under the LR/hallway carpets. All appliances are included. There are some new windows, new doors, and newer cement leading to an over-sized detached garage. The owners have utilized professional lawn care. A spacious family room, .75 bath, office, workshop and storage space complete the basement. This home has been wonderfully maintained by the same owners for decades!

6. 2014-08-08
   soldstatus $106,000

   Show marketing remark (566 chars)

   An attractive tree-lined street welcomes all to a pampered 3 bdrm/2 bath area home in SE Lincoln. This maintenance-free exterior, 1-1/2 story home ffers hardwood flooring in main floor bdrms and under the LR/hallway carpets. All appliances are included. There are some new windows, new doors, and newer cement leading to an over-sized detached garage. The owners have utilized professional lawn care. A spacious family room, .75 bath, office, workshop and storage space complete the basement. This home has been wonderfully maintained by the same owners for decades!

7. 2014-07-24
   historical 566-char remark

   Show marketing remark (566 chars)

   An attractive tree-lined street welcomes all to a pampered 3 bdrm/2 bath area home in SE Lincoln. This maintenance-free exterior, 1-1/2 story home ffers hardwood flooring in main floor bdrms and under the LR/hallway carpets. All appliances are included. There are some new windows, new doors, and newer cement leading to an over-sized detached garage. The owners have utilized professional lawn care. A spacious family room, .75 bath, office, workshop and storage space complete the basement. This home has been wonderfully maintained by the same owners for decades!

8. 2014-06-11
   listed $114,900 566-char remark

   Show marketing remark (566 chars)

   An attractive tree-lined street welcomes all to a pampered 3 bdrm/2 bath area home in SE Lincoln. This maintenance-free exterior, 1-1/2 story home ffers hardwood flooring in main floor bdrms and under the LR/hallway carpets. All appliances are included. There are some new windows, new doors, and newer cement leading to an over-sized detached garage. The owners have utilized professional lawn care. A spacious family room, .75 bath, office, workshop and storage space complete the basement. This home has been wonderfully maintained by the same owners for decades!

ⓘ 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: $2,941 · $245/mo
• Projected year-2 tax: $3,804 · $317/mo
• Expected delta: +$863/yr (+$72/mo · 29.3%)

ⓘ 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 · 15 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: $22,194
• − Mortgage interest: −$12,318
• − Property taxes: −$2,941
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,776
• − Management: −$1,776
• − Depreciation: −$6,397
• Taxable loss: −$4,112
• Est. tax savings @ 24.0%: +$987
• After-tax cash flow: $642/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): 27,531
• Household income: $72,637
• Rent vs Own: 35.7% rent · 64.3% own
• Severe rent burden: 1150.0

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 (81%)
• Race & ethnicity: White 81% Hispanic / Latino 8% Two or more races 6% Asian 3% Black 1% Native American 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Lithuanian 2% Portuguese 2% Italian 2%
• Foreign-born: 7% · Canada, China, Philippines
• Languages at home: 89% English-only · Spanish 4% Other Asian/Pacific 1% Chinese 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: ▼ -253.20%
• Current HPI: 234.2428
• Rent YoY: ▲ 3.67%
• 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

+91.4% since first listed

8 events — show timeline

• 2026-04-20 Pending — GPRMLS
• 2026-04-09 Relisted — GPRMLS
• 2026-03-28 Pending — GPRMLS
• 2026-03-23 Listed $219,900 GPRMLS
• 2014-08-08 Sold (Public Records) $106,000 Public Records
• 2014-08-08 Sold (MLS) $106,000 GPRMLS
• 2014-07-24 Listing Removed — GPRMLS
• 2014-06-11 Listed $114,900 GPRMLS

Property tax history

+2.7%/yr

Latest (2025): $2,941 · +6.2% YoY. Source: county tax records.