7114 S 204th Ave · Omaha, NE 68028

$349,990

3 bd · 2.5 ba · 1,498 sqft · SingleFamily · 48 Days on market

Built 2026 6,447 sqft lot $23/mo HOA · 1% of rent

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Why this score? — see what drove the F 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 +7.5/15.0
• Cash flow +7.2/30.0
• Schools +5.8/10.0
• Livability +4.2/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• DSCR +1.4/10.0
• 1% rule +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to the Hamilton in Sunset Meadows - a charming ranch-style home offering 1,498 sq. ft. of thoughtfully designed living space with 3 bedrooms and 2 bathrooms. Step into a bright foyer that leads past two spacious secondary bedrooms and a full bath—perfect for family, guests, or a home office setup. The heart of the home is the open-concept kitchen featuring white cabinetry, stainless steel appliances, a generous island, and ample counter space for cooking and entertaining. The adjoining great room offers large windows that fill the space with natural light and a cozy electric fireplace, making it the ideal gathering place. Tucked privately at the back of the home, the primary s

Key facts

• Open-concept kitchen
• Finished basement
• Dual-sink vanity

Tags

• OPEN-CONCEPT KITCHEN
• FINISHED BASEMENT
• PRIVATE PRIMARY SUITE
• DUAL-SINK VANITY
• WALK-IN SHOWER
• SPACIOUS WALK-IN CLOSET

Property features AI

Finance

• HOA & community: Homeowners association with annual fee of $277.12 covering common area maintenance

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Public sewer
• Home design: New construction single-family home (Hamilton model) built in 2026; One-story layout with main-floor primary bedroom; Residential single-family residence
• Construction: Concrete perimeter foundation; Built by D.R. Horton
• Exterior features: Front porch; Deck; Lot up to 1/4 acre (approximately 0.148 acres, dimensions 58 x 111)

Interior

• Kitchen: Range; Dishwasher; Microwave
• Bedrooms: Primary bedroom on main floor with walk-in closet and wall-to-wall carpeting; Additional bedrooms on main floor with wall-to-wall carpeting
• Flooring: Luxury vinyl plank flooring in main living areas; Wall-to-wall carpeting in bedrooms
• Bathrooms: Total of 2 bathrooms: 1 full bath and 1 three-quarter (3/4) bath; Main floor has 2 bathrooms; basement has 1 partial bath
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Electric fireplace (1); Pantry; Luxury vinyl plank flooring in great room, kitchen, dining room, and laundry
• Laundry & utility: Laundry area finished with luxury vinyl plank flooring

🏗️ New construction. The $349,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $385,357.

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $350k.

Deal economics

• At list price, monthly cash flow is $-523 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $293k (16.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $222k (36.7% below list).
• Recommended offer: $222k (36.7% below list) — sets the bar for 1% rule.
• Cap rate 4.7% 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.
• Gretna Public Schools (suburban): math 64% / reading 64% proficiency, ranked #6 of 111 in NE (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 5% free/reduced lunch — higher-income household profile.
• Zoned schools: Gretna Elementary School (math 63% / reading 70%, grade B+, #74 of 502 statewide, top 15%, 463 students, 13% FRL); Gretna Middle School (math 60% / reading 57%, grade B, #21 of 128 statewide, top 17%, 728 students, 14% FRL); Gretna High School (math 63% / reading 64%, grade B-, #37 of 261 statewide, top 14%, 1,729 students, 11% FRL).
• Market conditions: Rents rising (+1.9%/yr); 530 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,612 units permitted in Sarpy County in 2024 (364 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Sarpy County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($339k) is reasonable based on typical stale-listing flexibility.

Recommended offer $221,573 (36.7% 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 48 days. Have you received any prior offers? Is the seller open to a 37% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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: 0.57% ✗
• Cap rate: 4.66%
• Cash-on-cash: -5.82%
• DSCR: 0.74
• GRM: 14.5

CMA / ARV

• ARV (median comp): $385,357
• List price: $349,990
• Delta: -9.18%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7103 S 205th St	0.04mi	3/2.5	1,498 (0%)	3mo	$331,990	$222	96
7111 S 205th St	0.03mi	3/2.5	1,498 (0%)	4mo	$327,900	$219	96
7006 S 205th St	0.08mi	3/2.5	1,498 (0%)	2mo	$339,990	$227	94
7108 S 205th St	0.06mi	3/2.5	1,498 (0%)	4mo	$359,990	$240	94
7002 S 205th St	0.09mi	3/3.0	1,635 (+9%)	1mo	$359,990	$220	78
21212 Madison St	0.72mi	3/2.5	1,594 (+6%)	1mo	$370,000	$232	55
6163 S 200th Ave	0.63mi	3/2.5	1,644 (+10%)	1mo	$448,786	$273	54
21051 Jefferson St	0.65mi	3/3.0	1,640 (+10%)	1mo	$340,900	$208	51
21101 Jefferson St	0.74mi	3/2.5	1,621 (+8%)	3mo	$344,765	$213	50
21087 Jefferson St	0.73mi	3/3.0	1,621 (+8%)	2mo	$337,037	$208	49
21063 Jefferson St	0.68mi	3/3.0	1,640 (+10%)	2mo	$338,851	$207	49
19820 Cinnamon St	0.75mi	3/2.5	1,644 (+10%)	2mo	$450,000	$274	47

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 · 1.87% rent growth · sell at horizon

5-year hold

• IRR: -27.4%
• Equity multiple: 0.09×
• Total profit: $-98,479
• Equity at exit: $57,458

10-year hold

• IRR: -29.5%
• Equity multiple: -0.29×
• Total profit: $-139,511
• Equity at exit: $33,319

Cash invested: $107,900 (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 68028

• Home prices YoY: -31.0%
• Rents YoY: 1.9%
• Active inventory: 530
• Price-to-rent: 13.2×

Monthly cashflow live

• Estimated rent: $2,216 high
• Mortgage (P&I): −$2,021
• Tax from tax record: −$69 /mo · $833/yr
• Insurance: −$161
• HOA: −$23
• Vacancy / Maint / Mgmt: −$465
• Net cashflow: $-523

Break-even live

Break-even rent $2,878

Max offer price $292,891

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: $96,339
• Closing costs: $11,561
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20573 Margo St Gretna, NE	3.0	2.5	1500	$2,500	$1.67	19d	1	0.30mi
6108 Coventry Dr Elkhorn, NE	1.0–3.0	1.0–2.5	1220	$2,395	$1.96	1d	17	0.61mi
6601 S 194th Ter Plz Omaha, NE	1.0–3.0	1.0–2.0	1083	$2,613	$2.41	2d	16	0.87mi
19714 Laci St Omaha, NE	3.0	2.0	1600	$2,200	$1.38	3d	1	0.93mi
20861 T Plz Elkhorn, NE	3.0	2.5	1384	$2,200	$1.59	2d	1	0.97mi
19224 Olive Plz Gretna, NE	2.0	2.0	1149	$1,645	$1.43	2d	1	1.01mi
4910 S 209th Ct Douglas, NE	1.0–2.0	1.0–2.0	911	$1,593	$1.75	1d	71	1.32mi
6121 S 190th Ter Omaha, NE	3.0	2.0	1232	$2,100	$1.70	10d	1	1.36mi
1 W Q St Omaha, NE	1.0–2.0	1.0–2.0	918	$1,499	$1.63	1d	30	1.38mi

HOA detail

• Monthly dues: $23 · $276/yr
• Likely covers: electric

Listing history 16 events

1. 2026-06-18
   days on market $349,990 Active 48 DOM
2. 2026-06-17
   days on market $349,990 Active 47 DOM
3. 2026-06-16
   days on market $349,990 Active 46 DOM
4. 2026-06-15
   days on market $349,990 Active 45 DOM
5. 2026-06-13
   pricedays on market $349,990 Active 43 DOM
6. 2026-06-10
   days on market $339,990 Active 40 DOM
7. 2026-06-09
   days on market $339,990 Active 39 DOM
8. 2026-06-08
   days on market $339,990 Active 38 DOM
9. 2026-06-07
   pricedays on market $339,990 Active 37 DOM
10. 2026-06-03
    days on market $344,990 Active 33 DOM
11. 2026-06-03
    days on market $344,990 Active 32 DOM
12. 2026-06-01
    days on market $344,990 Active 31 DOM
13. 2026-05-31
    days on market $344,990 Active 30 DOM
14. 2026-05-02
    listed $344,990 Active 1013-char remark
15. 2026-05-01
    listed $344,990 New 1010-char remark
16. 2025-07-10
    soldstatus $1,110,000

ⓘ 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: $833 · $69/mo
• Projected year-2 tax: $6,055 · $505/mo
• Expected delta: +$5,221/yr (+$435/mo · 626.6%)

ⓘ 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 ≥103°F today · 14 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: $26,589
• − Mortgage interest: −$21,586
• − Property taxes: −$833
• − Insurance: −$1,927
• − Repairs & maintenance: −$2,127
• − Management: −$2,127
• − HOA: −$276
• − Depreciation: −$11,210
• Taxable loss: −$13,498
• Est. tax savings @ 24.0%: +$3,239
• After-tax cash flow: $-3,042/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: Gretna Public Schools
• NCES district ID: 3171220
• Math proficiency: 64% ▼ -10.00%
• Reading proficiency: 64% ▼ -4.00%
• Median HH income: $89,845
• Composite: 58.21/100
• National rank: #1023
• State rank: #6 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

• County: Sarpy County · 161,202 people
• City population: 552,986
• Metro: Omaha-Council Bluffs, NE-IA
• Population (ZIP): 17,529
• Household income: $143,604
• Rent vs Own: 16.5% rent · 83.5% own
• Severe rent burden: 339.0

Population outlook (Sarpy County) Hauer SSP2

• Today (2025): 211,769 people
• By 2030: 229,365 · +8.3%
• By 2040: 264,122 · +24.7%
• By 2050: 298,087 · +40.8%
• By 2075: 381,667 · +80.2%
• By 2100: 448,180 · +111.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Romanian 4% Iranian 3% Italian 3%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Sarpy

• 2024 margin: R (+11.7) · D 43.5% · R 55.2% · Other 1.3%
• 2008→2024 swing: +4.2pp toward D · 2008: -15.9pp · 2024: -11.7pp
• All cycles: 2024: R+11.7 2020: R+11.2 2016: R+21.8 2012: R+23.6 2008: R+15.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -108.83%
• Current HPI: 242.6423
• Rent YoY: ▲ 1.87%
• 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

-68.5% since first listed

4 events — show timeline

• 2026-06-12 Price Changed $349,990 GPRMLS
• 2026-06-05 Price Changed $339,990 GPRMLS
• 2026-05-01 Listed $344,990 GPRMLS
• 2025-07-10 Sold (Public Records) $1,110,000 Public Records

Property tax history

+128.6%/yr

Latest (2025): $833 · -7.2% YoY. Source: county tax records.