12708 S 205th Ave · Gretna, NE 68028

$374,990

4 bd · 3.0 ba · 2,191 sqft · SingleFamily · 160 Days on market

Built 2026 6,229 sqft lot $171/sqft · at area comps Est $378k · at est.

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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).

• Cash flow +10.1/30.0
• ARV discount +7.8/15.0
• Schools +5.8/10.0
• Livability +4.1/5.0
• Rent growth +3.0/5.0
• DSCR +2.9/10.0
• Condition / age +2.5/5.0
• 1% rule +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to the Hamilton in Parkview - a beautifully designed ranch-style home offering 2,190 sq. ft. of finished living space with 4 bedrooms and 3 bathrooms, including a finished basement. From the moment you enter, the bright foyer leads past two spacious secondary bedrooms and a full bath—ideal for guests or a home office. At the heart of the home is an open-concept kitchen featuring white cabinetry, stainless steel appliances, a generous island, and ample prep space. The adjoining great room is flooded with natural light from large windows and centered around a cozy electric fireplace. The private primary suite offers a spa-like retreat with a dual-sink vanity, walk-in shower, and spacious walk-in closet. Downstairs, enjoy a large rec room, fourth bedroom, and a third full bath. Call us for a personal tour! Ask about builder incentives with preferred lender. Photos similar to.

Key facts

• Walk-in closet
• Finished basement
• Large island

Tags

• FINISHED BASEMENT
• WALK-IN PANTRY
• LARGE ISLAND
• WALK-IN CLOSET
• ENSUITE BATHROOM
• OVERSIZED LIVING SPACE

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $375k.

Deal economics

• At list price, monthly cash flow is $-216 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $337k (10.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $250k (33.4% below list).
• Recommended offer: $250k (33.4% below list) — sets the bar for 1% rule.
• Cap rate 5.6% vs local median 2.5% in Gretna — 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 82/100 on livability (#13 in NE, #1,227 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, cost of living A+; Watch: amenities F, commute 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.
• Market conditions: Rents rising (+1.9%/yr); 530 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $11k 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 160 days — a 12% lower offer ($330k) is reasonable based on typical stale-listing flexibility.

Recommended offer $249,653 (33.4% 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 160 days. Have you received any prior offers? Is the seller open to a 33% concession, seller financing, or rate buy-down credit?
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. 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?
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: 0.67% ✗
• Cap rate: 5.60%
• Cash-on-cash: -2.47%
• DSCR: 0.89
• GRM: 12.5

CMA / ARV

• ARV (median comp): $377,624
• List price: $374,990
• Delta: -0.70%
• 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
12704 S 205th Ave	0.01mi	4/3.0	2,191 (0%)	0mo	$371,990	$170	99
12712 S 205th Ave	0.01mi	4/3.0	2,191 (0%)	1mo	$380,990	$174	99
12716 S 205th Ave	0.02mi	4/3.0	2,191 (0%)	1mo	$387,990	$177	98
12719 S 205th Ave	0.04mi	4/3.0	2,191 (0%)	2mo	$376,990	$172	97
20553 Swallowtail St	0.07mi	4/3.0	2,191 (0%)	1mo	$353,990	$162	96
20557 Swallowtail St	0.06mi	4/3.0	2,191 (0%)	2mo	$354,990	$162	96
12512 S 205th St	0.12mi	4/3.0	2,191 (0%)	1mo	$377,990	$173	94
12530 S 206th St	0.14mi	4/3.0	2,191 (0%)	0mo	$379,990	$173	93
12602 S 205th St	0.11mi	4/3.5	2,191 (0%)	1mo	$365,990	$167	92
12315 S 205th Ave	0.26mi	4/3.5	2,418 (+10%)	2mo	$397,990	$165	68
12405 S 205th Ave	0.23mi	4/3.5	2,452 (+12%)	1mo	$439,990	$179	66
12319 S 205th Ave	0.24mi	4/3.5	2,452 (+12%)	2mo	$445,990	$182	65

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: -21.5%
• Equity multiple: 0.26×
• Total profit: $-77,552
• Equity at exit: $55,912

10-year hold

• IRR: -17.8%
• Equity multiple: 0.07×
• Total profit: $-97,374
• Equity at exit: $32,422

Cash invested: $104,997 (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: 12.5×

Monthly cashflow live

• Estimated rent: $2,497 medium
• Mortgage (P&I): −$1,966
• Tax from tax record: −$66 /mo · $789/yr
• Insurance: −$156
• HOA: −$0
• Vacancy / Maint / Mgmt: −$524
• Net cashflow: $-216

Break-even live

Break-even rent $2,770

Max offer price $336,797

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: $93,748
• Closing costs: $11,250
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12660 S 204th Ave Gretna, NE	4.0	2.0	1606	$2,695	$1.68	2d	1	0.15mi

Listing history 20 events

1. 2026-06-18
   days on market $374,990 Active 160 DOM
2. 2026-06-17
   days on market $374,990 Active 159 DOM
3. 2026-06-16
   days on market $374,990 Active 158 DOM
4. 2026-06-15
   days on market $374,990 Active 157 DOM
5. 2026-06-13
   days on market $374,990 Active 155 DOM
6. 2026-06-10
   days on market $374,990 Active 152 DOM
7. 2026-06-09
   days on market $374,990 Active 151 DOM
8. 2026-06-08
   days on market $374,990 Active 150 DOM
9. 2026-06-07
   days on market $374,990 Active 149 DOM
10. 2026-06-03
    days on market $374,990 Active 145 DOM
11. 2026-06-03
    days on market $374,990 Active 144 DOM
12. 2026-06-01
    days on market $374,990 Active 143 DOM
13. 2026-05-31
    days on market $374,990 Active 142 DOM
14. 2026-05-08
    price $374,990 899-char remark

    Show marketing remark (899 chars)

    Welcome to the Hamilton in Parkview - a beautifully designed ranch-style home offering 2,190 sq. ft. of finished living space with 4 bedrooms and 3 bathrooms, including a finished basement. From the moment you enter, the bright foyer leads past two spacious secondary bedrooms and a full bath—ideal for guests or a home office. At the heart of the home is an open-concept kitchen featuring white cabinetry, stainless steel appliances, a generous island, and ample prep space. The adjoining great room is flooded with natural light from large windows and centered around a cozy electric fireplace. The private primary suite offers a spa-like retreat with a dual-sink vanity, walk-in shower, and spacious walk-in closet. Downstairs, enjoy a large rec room, fourth bedroom, and a third full bath. Call us for a personal tour! Ask about builder incentives with preferred lender. Photos similar to.

15. 2026-04-24
    price $379,990 899-char remark

    Show marketing remark (899 chars)

    Welcome to the Hamilton in Parkview - a beautifully designed ranch-style home offering 2,190 sq. ft. of finished living space with 4 bedrooms and 3 bathrooms, including a finished basement. From the moment you enter, the bright foyer leads past two spacious secondary bedrooms and a full bath—ideal for guests or a home office. At the heart of the home is an open-concept kitchen featuring white cabinetry, stainless steel appliances, a generous island, and ample prep space. The adjoining great room is flooded with natural light from large windows and centered around a cozy electric fireplace. The private primary suite offers a spa-like retreat with a dual-sink vanity, walk-in shower, and spacious walk-in closet. Downstairs, enjoy a large rec room, fourth bedroom, and a third full bath. Call us for a personal tour! Ask about builder incentives with preferred lender. Photos similar to.

16. 2026-04-10
    price $376,990 899-char remark

    Show marketing remark (899 chars)

    Welcome to the Hamilton in Parkview - a beautifully designed ranch-style home offering 2,190 sq. ft. of finished living space with 4 bedrooms and 3 bathrooms, including a finished basement. From the moment you enter, the bright foyer leads past two spacious secondary bedrooms and a full bath—ideal for guests or a home office. At the heart of the home is an open-concept kitchen featuring white cabinetry, stainless steel appliances, a generous island, and ample prep space. The adjoining great room is flooded with natural light from large windows and centered around a cozy electric fireplace. The private primary suite offers a spa-like retreat with a dual-sink vanity, walk-in shower, and spacious walk-in closet. Downstairs, enjoy a large rec room, fourth bedroom, and a third full bath. Call us for a personal tour! Ask about builder incentives with preferred lender. Photos similar to.

17. 2026-03-27
    price $374,990 899-char remark

    Show marketing remark (899 chars)

    Welcome to the Hamilton in Parkview - a beautifully designed ranch-style home offering 2,190 sq. ft. of finished living space with 4 bedrooms and 3 bathrooms, including a finished basement. From the moment you enter, the bright foyer leads past two spacious secondary bedrooms and a full bath—ideal for guests or a home office. At the heart of the home is an open-concept kitchen featuring white cabinetry, stainless steel appliances, a generous island, and ample prep space. The adjoining great room is flooded with natural light from large windows and centered around a cozy electric fireplace. The private primary suite offers a spa-like retreat with a dual-sink vanity, walk-in shower, and spacious walk-in closet. Downstairs, enjoy a large rec room, fourth bedroom, and a third full bath. Call us for a personal tour! Ask about builder incentives with preferred lender. Photos similar to.

18. 2026-02-10
    price $371,990 899-char remark

    Show marketing remark (899 chars)

    Welcome to the Hamilton in Parkview - a beautifully designed ranch-style home offering 2,190 sq. ft. of finished living space with 4 bedrooms and 3 bathrooms, including a finished basement. From the moment you enter, the bright foyer leads past two spacious secondary bedrooms and a full bath—ideal for guests or a home office. At the heart of the home is an open-concept kitchen featuring white cabinetry, stainless steel appliances, a generous island, and ample prep space. The adjoining great room is flooded with natural light from large windows and centered around a cozy electric fireplace. The private primary suite offers a spa-like retreat with a dual-sink vanity, walk-in shower, and spacious walk-in closet. Downstairs, enjoy a large rec room, fourth bedroom, and a third full bath. Call us for a personal tour! Ask about builder incentives with preferred lender. Photos similar to.

19. 2026-01-09
    listed $366,990 New 899-char remark

    Show marketing remark (899 chars)

    Welcome to the Hamilton in Parkview - a beautifully designed ranch-style home offering 2,190 sq. ft. of finished living space with 4 bedrooms and 3 bathrooms, including a finished basement. From the moment you enter, the bright foyer leads past two spacious secondary bedrooms and a full bath—ideal for guests or a home office. At the heart of the home is an open-concept kitchen featuring white cabinetry, stainless steel appliances, a generous island, and ample prep space. The adjoining great room is flooded with natural light from large windows and centered around a cozy electric fireplace. The private primary suite offers a spa-like retreat with a dual-sink vanity, walk-in shower, and spacious walk-in closet. Downstairs, enjoy a large rec room, fourth bedroom, and a third full bath. Call us for a personal tour! Ask about builder incentives with preferred lender. Photos similar to.

20. 2025-08-11
    soldstatus $1,711,000

ⓘ 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: $789 · $66/mo
• Projected year-2 tax: $6,487 · $541/mo
• Expected delta: +$5,699/yr (+$475/mo · 722.5%)

ⓘ 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 ≥103°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: $29,958
• − Mortgage interest: −$21,005
• − Property taxes: −$789
• − Insurance: −$1,875
• − Repairs & maintenance: −$2,397
• − Management: −$2,397
• − Depreciation: −$10,909
• Taxable loss: −$9,413
• Est. tax savings @ 24.0%: +$2,259
• After-tax cash flow: $-335/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 — Gretna

• Score: 82/100
• State rank: #13
• US rank: #1227

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment A- Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Sarpy County · 161,202 people
• City population: 17,529
• 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

-78.1% since first listed

7 events — show timeline

• 2026-05-08 Price Changed $374,990 GPRMLS
• 2026-04-24 Price Changed $379,990 GPRMLS
• 2026-04-10 Price Changed $376,990 GPRMLS
• 2026-03-27 Price Changed $374,990 GPRMLS
• 2026-02-10 Price Changed $371,990 GPRMLS
• 2026-01-09 Listed $366,990 GPRMLS
• 2025-08-11 Sold (Public Records) $1,711,000 Public Records

Property tax history

+39.8%/yr

Latest (2025): $789 · +0.4% YoY. Source: county tax records.