4319 N 40 St · Omaha, NE 68111

$99,900

4 bd · 2.0 ba · 1,673 sqft · Other public records · 28 Days on market

Built 1916 10,454 sqft lot $60/sqft · 43% below area Est $175k · 43% under

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Why this score? — see what drove the A 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Livability +4.2/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0

Listing remarks MLS

AGENT HAS NEVER BEEN INSIDE PROPERTY. Outside showings only currently occupied and bank owned All information from assessor site

Key facts

• 0.24 acre lot
• Garage
• Built 1916

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $100k.

Deal economics

• At list price, monthly cash flow is $712 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.8% 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.
• 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); 47% 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).
• At $1,790/mo this rent would consume 51% of the median local household income ($42k/yr) (locally 1913% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $11k of equity ($691 loan paydown + $10k 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 $28k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 8 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.

Risks & watch-outs

• Watch-outs: built in 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $98,401 (1.5% below list)

Questions for the listing agent

1. Built in 1916 — 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: 1.79% ✓
• Cap rate: 14.85%
• Cash-on-cash: 30.55%
• DSCR: 2.36
• GRM: 4.7

CMA / ARV

• ARV (median comp): $175,176
• List price: $99,900
• Delta: -42.97%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 47.7%
• Equity multiple: 4.58×
• Total profit: $100,194
• Equity at exit: $89,998

10-year hold

• IRR: 41.6%
• Equity multiple: 10.30×
• Total profit: $260,270
• Equity at exit: $194,084

Cash invested: $27,972 (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: 4.7×

Monthly cashflow live

• Estimated rent: $1,790 high
• Mortgage (P&I): −$524
• Tax from tax record: −$137 /mo · $1,639/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$376
• Net cashflow: $712

Break-even live

Break-even rent $889

Max offer price $99,900

Occupancy floor 55%

Sensitivity live

Price	-10% $769	-5% $740	+0% $712	+5% $684	+10% $656
Rent	-10% $571	-5% $641	+0% $712	+5% $783	+10% $854
Rate	-1.0pp $762	-0.5pp $738	base $712	+0.5pp $686	+1.0pp $660

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: $24,975
• Closing costs: $2,997
• 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	0.27mi
4240 Fowler Ave Omaha, NE	4.0	2.0	1956	$1,895	$0.97	24d	1	0.38mi
3535 N 45th Ave Omaha, NE	3.0	1.0	1325	$1,800	$1.36	44d	1	0.66mi
3808 N 48th St Omaha, NE	3.0	2.0	1400	$2,000	$1.43	3d	1	0.78mi
3508 N 47th Ave Omaha, NE	3.0	1.0	1425	$1,600	$1.12	20d	1	0.83mi
4657 Camden Ave Omaha, NE	3.0	1.0	1250	$1,500	$1.20	44d	1	0.86mi
4276 Binney St Omaha, NE	4.0	1.0	1358	$1,495	$1.10	44d	1	0.92mi
3002 N 48th Ave Omaha, NE	4.0	2.0	1205	$1,550	$1.29	24d	1	1.13mi
4874 Maple St Omaha, NE	3.0	1.0	1098	$1,545	$1.41	44d	1	1.20mi
2914 N 49th Ave Omaha, NE	3.0	1.0	1375	$1,615	$1.17	24d	1	1.24mi
2416 Fowler Ave Omaha, NE	4.0	2.0	2169	$1,950	$0.90	15d	1	1.25mi
4706 Kansas Ave Omaha, NE	5.0	2.0	1412	$1,750	$1.24	15d	1	1.29mi
4114 N 54th St Omaha, NE	3.0	2.0	1683	$1,745	$1.04	3d	1	1.34mi
4655 Curtis Ave Omaha, NE	3.0	2.0	2000	$1,900	$0.95	44d	1	1.34mi
2873 Kansas Ave Omaha, NE	3.0	2.0	1112	$1,450	$1.30	24d	1	1.39mi
4026 Bauman Ave Omaha, NE	4.0	1.0	1350	$1,695	$1.26	44d	1	1.42mi
5348 N 25th St Omaha, NE	4.0	1.0	1446	$1,600	$1.11	44d	1	1.42mi
5011 Miami St Omaha, NE	3.0	3.0	2180	$2,200	$1.01	44d	1	1.42mi
4201 N 22nd St Omaha, NE	3.0	1.0	1380	$1,545	$1.12	44d	1	1.44mi

Listing history 22 events

1. 2026-05-08
   status Pending 129-char remark

   Show marketing remark (129 chars)

   AGENT HAS NEVER BEEN INSIDE PROPERTY. Outside showings only currently occupied and bank owned All information from assessor site

2. 2026-04-06
   listed $99,900 New 129-char remark

   Show marketing remark (129 chars)

   AGENT HAS NEVER BEEN INSIDE PROPERTY. Outside showings only currently occupied and bank owned All information from assessor site

3. 2023-04-14
   soldstatus $1,375,000
4. 2021-06-05
   historical
5. 2020-12-31
   price $89,900
6. 2020-12-08
   listed $79,900 Active - New
7. 2020-06-20
   historical
8. 2020-01-17
   listed $70,000 Active - New
9. 2020-01-04
   historical
10. 2019-07-06
    price $70,000
11. 2019-07-03
    listed $65,000 Active - New
12. 2019-07-01
    historical
13. 2019-03-31
    price $70,000
14. 2018-12-30
    listed $65,000 Active - New
15. 2018-12-05
    historical
16. 2018-07-04
    listed $65,000 Active - New
17. 2018-06-07
    historical
18. 2017-12-16
    listed $65,000 Active - New
19. 2015-04-01
    historical
20. 2014-10-08
    listed $59,800 Active
21. 2008-02-19
    soldstatus $375,000
22. 2006-09-15
    soldstatus $937,333

ⓘ 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: $1,639 · $137/mo
• Projected year-2 tax: $1,728 · $144/mo
• Expected delta: +$90/yr (+$7/mo · 5.5%)

ⓘ 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: $21,481
• − Mortgage interest: −$5,596
• − Property taxes: −$1,639
• − Insurance: −$500
• − Repairs & maintenance: −$1,718
• − Management: −$1,718
• − Depreciation: −$2,906
• Taxable income: $7,404
• Est. tax owed @ 24.0%: −$1,777
• After-tax cash flow: $6,768/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

-89.3% since first listed

22 events — show timeline

• 2026-05-08 Pending — GPRMLS
• 2026-04-06 Listed $99,900 GPRMLS
• 2023-04-14 Sold (Public Records) $1,375,000 Public Records
• 2021-06-05 Listing Removed — GPRMLS
• 2020-12-31 Price Changed $89,900 GPRMLS
• 2020-12-08 Listed $79,900 GPRMLS
• 2020-06-20 Listing Removed — GPRMLS
• 2020-01-17 Listed $70,000 GPRMLS
• 2020-01-04 Listing Removed — GPRMLS
• 2019-07-06 Price Changed $70,000 GPRMLS
• 2019-07-03 Listed $65,000 GPRMLS
• 2019-07-01 Listing Removed — GPRMLS
• 2019-03-31 Price Changed $70,000 GPRMLS
• 2018-12-30 Listed $65,000 GPRMLS
• 2018-12-05 Listing Removed — GPRMLS
• 2018-07-04 Listed $65,000 GPRMLS
• 2018-06-07 Listing Removed — GPRMLS
• 2017-12-16 Listed $65,000 GPRMLS
• 2015-04-01 Listing Removed — GPRMLS
• 2014-10-08 Listed $59,800 GPRMLS
• 2008-02-19 Sold (Public Records) $375,000 Public Records
• 2006-09-15 Sold (Public Records) $937,333 Public Records

Property tax history

+4.5%/yr

Latest (2025): $1,639 · +0.8% YoY. Source: county tax records.