269 W Furnas Ave · Lincoln, NE 68521

$40,000

2 bd · 2.0 ba · 980 sqft · Manufactured · 1 Days on market

Built 1973 Good condition 7,000 sqft lot Est $39k · at est. $695/mo HOA · 54% of rent

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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 +19.2/30.0
• 1% rule +10.0/10.0
• ARV discount +6.6/15.0
• DSCR +6.0/10.0
• Schools +4.4/10.0
• Livability +4.2/5.0
• Condition / age +3.8/5.0
• Rent growth +3.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Updated 2-bedroom, 2-bath home with a split-bedroom floor plan. The primary bedroom with bathroom is located on the north end of the home, with the kitchen, dining area, and living room in the center, and the second bedroom and bath on the south end. All appliances are included. Monthly lot rent in Maple Grove is $695 plus water and trash. Community amenities include a recently updated pool and playground. This lot offers four parking spaces and additional yard space. Need extra parking? Additional parking spaces are available within the community for $50 per space per month.

Key facts

• Four parking spaces
• 7,000 sq ft lot
• Community pool

Tags

• SPLIT-BEDROOM FLOOR PLAN
• RECENTLY UPDATED POOL
• FOUR PARKING SPACES
• ADDITIONAL YARD SPACE

Property features AI

Finance

• HOA & community: Association: Maple Grove; Monthly association fee of $695; Association fee includes pool access, water, trash, and playground

Exterior

• Parking: No garage
• Utilities: Electricity available; Natural gas available; Public water; Public sewer
• Home design: Residential mobile home; Not new (built in 1973); Single-story
• Construction: Built in 1973; No foundation listed
• Exterior features: Enclosed porch; City lot with common area; Lot approximately 100 x 70

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Primary bedroom on the main floor; Second bedroom on the main floor
• Bathrooms: Two bathrooms total; One full bathroom; One three-quarter bathroom
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Ceiling fans; Pantry
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $40k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $43 ($515/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Cap rate 7.6% 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: West Lincoln Elementary School (math 29% / reading 32%, grade F, #426 of 502 statewide, top 85%, 487 students, 0% FRL); Goodrich Middle School (math 38% / reading 36%, grade F, #99 of 128 statewide, top 79%, 877 students, 78% FRL); Lincoln Northeast High School (math 34% / reading 36%, grade F, #207 of 261 statewide, top 79%, 1,812 students, 62% FRL).
• Zoned-school proficiency averages 34% at this address vs 52% district-wide (-17 pts) — the specific schools serving this property underperform the Lincoln Public Schools average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+4.0%/yr); 366 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 47% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $277 of loan paydown is wiped out by about $1k 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.
• At projected returns (-3.0% appreciation + 4.0% rent growth), your $11k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: HOA is 54% of rent.

Recommended offer $40,000

Questions for the listing agent

1. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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.
7. 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.
8. 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: 3.21% ✓
• Cap rate: 7.58%
• Cash-on-cash: 4.60%
• DSCR: 1.20
• GRM: 2.6

CMA / ARV

• ARV (on-the-fly): $39,200
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
209 W Treehaven Dr Lot 143	0.36mi	3/2.0 (+1)	924 (-6%)	5mo	$35,000	$38	65
3616 NW Magnolia Ct	0.45mi	3/2.0 (+1)	1,050 (+7%)	3mo	$42,000	$40	60
205 W Treehaven Dr	0.36mi	2/2.0	840 (-14%)	2mo	$37,000	$44	58
3511 NW Lime Ct	0.43mi	2/1.0	960 (-2%)	22mo	$30,000	$31	54
635 W Fairfield St	0.55mi	3/2.0 (+1)	1,064 (+9%)	2mo	$42,000	$39	54
3619 NW Quincy Ct #184	0.42mi	3/2.0 (+1)	1,069 (+9%)	9mo	$59,000	$55	53
3801 NW Darkwood Ct	0.52mi	2/2.0	924 (-6%)	17mo	$41,500	$45	52
416 West Fairfield St	0.56mi	3/2.0 (+1)	1,064 (+9%)	4mo	$42,000	$39	51
723 W Fairfield St	0.53mi	3/2.0 (+1)	980 (0%)	23mo	$33,500	$34	51
3600 NW Nutwood Ct	0.40mi	3/2.0 (+1)	1,036 (+6%)	23mo	$55,000	$53	48
2708 N 3 St	0.44mi	2/1.0	924 (-6%)	24mo	$26,000	$28	46
3619 NW Magnolia Ct	0.45mi	2/2.0	840 (-14%)	19mo	$35,000	$42	39

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 · 4.04% rent growth · sell at horizon

5-year hold

• IRR: -4.4%
• Equity multiple: 0.83×
• Total profit: $-1,943
• Equity at exit: $5,964

10-year hold

• IRR: 9.2%
• Equity multiple: 1.83×
• Total profit: $9,334
• Equity at exit: $3,458

Cash invested: $11,200 (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 68521

• Home prices YoY: -34.1%
• Rents YoY: 4.0%
• Active inventory: 366
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $1,284 high
• Mortgage (P&I): −$210
• Tax est. 1.5%: −$50 /mo · $600/yr
• Insurance: −$17
• HOA: −$695
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $43

Break-even live

Break-even rent $1,230

Max offer price $40,000

Occupancy floor 92%

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2900 N 1st St Lincoln, NE	2.0–3.0	1.0–2.0	1061	$945	$0.89	43d	3	0.18mi
2700 N 1st St #2 Lincoln, NE	2.0	1.0	897	$1,095	$1.22	21d	1	0.21mi
535 W Saunders Ave Unit 3 Lincoln, NE	2.0	1.0	889	$945	$1.06	43d	1	0.45mi
2636 N 4th St Unit 2636 Lincoln, NE	3.0	2.0	1060	$1,595	$1.50	43d	1	0.47mi
2635 N 5th St Unit 2635 Lincoln, NE	3.0	2.0	1060	$1,595	$1.50	43d	1	0.50mi
2521 N 9th St Lincoln, NE	1.0–2.0	1.0–2.0	700	$999	$1.43	13d	4	0.73mi
830 Judson St Lincoln, NE	3.0	1.0	816	$1,700	$2.08	43d	1	0.79mi
4441 N 1st St Lincoln, NE	3.0	1.0–2.0	853	$1,490	$1.75	13d	39	0.85mi
North Pointe Villas Lincoln, NE	3.0	1.0–2.0	1022	$1,919	$1.88	13d	25	0.89mi
4231 N 7th St Lincoln, NE	1.0	1.0	772	$1,049	$1.36	13d	7	0.99mi
3201 N 12th St Lincoln, NE	3.0	1.0	928	$1,250	$1.35	13d	1	1.02mi
1205 Adams St Lincoln, NE	2.0	1.0	875	$1,350	$1.54	43d	1	1.02mi
4420 N 7th St Lincoln, NE	1.0–2.0	1.0–2.0	881	$1,092	$1.24	13d	17	1.14mi
4730 Innovation Dr Lincoln, NE	2.0	1.0–2.5	873	$1,800	$2.06	13d	1	1.22mi
1040 Charleston St Lincoln, NE	1.0	1.0	596	$750	$1.26	43d	1	1.43mi
1800 Knox St Unit 1830 Lincoln, NE	2.0	1.0	857	$975	$1.14	21d	1	1.49mi
1800 Knox St Unit 1800-26 Lincoln, NE	2.0	1.0	857	$1,075	$1.25	43d	1	1.49mi

HOA detail

• Monthly dues: $695 · $8,340/yr
• Likely covers: watertrashpool

Listing history 2 events

1. 2026-06-07
   remarks 582-char remark
2. 2026-06-07
   listed $40,000 Pending 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 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: $15,408
• − Mortgage interest: −$2,241
• − Property taxes: −$600
• − Insurance: −$200
• − Repairs & maintenance: −$1,233
• − Management: −$1,233
• − HOA: −$8,340
• − Depreciation: −$1,164
• Taxable income: $399
• Est. tax owed @ 24.0%: −$96
• After-tax cash flow: $420/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.

Condition & rehab AI · 13 photos

Good 75/100 Cosmetic rehab

This 2-bedroom, 2-bath mobile home is in good condition with a split-bedroom floor plan. It's move-in ready with minor cosmetic updates needed for the exterior and landscaping.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value
• Both Clean gutters — Improves drainage and prevents water damage

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Clean gutters — Improves drainage and prevents water damage ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 37,050
• Household income: $67,483
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 1500.0

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 (70%)
• Race & ethnicity: White 70% Hispanic / Latino 12% Asian 8% Two or more races 7% Black 5%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 2% Arab 2% Italian 2%
• Foreign-born: 15% · Vietnam, Canada, United Kingdom
• Languages at home: 78% English-only · Spanish 9% Vietnamese 6% Arabic 3%

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: ▼ -124.30%
• Current HPI: 239.8394
• Rent YoY: ▲ 4.04%
• 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

2 events — show timeline

• 2026-06-07 Pending — GPRMLS
• 2026-06-02 Listed $40,000 GPRMLS