2520 Garfield St · Lincoln, NE 68502

$109,900

2 bd · 1.0 ba · 864 sqft · SingleFamily public records · 14 Days on market

Built 1900 3,049 sqft lot $127/sqft · 34% below area Est $165k · 34% 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 +15.0/15.0
• Cash flow +9.0/30.0
• Schools +4.4/10.0
• Livability +4.2/5.0
• Rent growth +3.1/5.0
• 1% rule +2.8/10.0
• DSCR +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 2520 Garfield Street. This 864 Sq ft bungalow is perfect for a first time home buyer or investor looking to expand their portfolio. it features 2 beds, 1 bath, a living room and kitchen. With a great front porch, this home is centrally located in the Near South Neighborhood, near schools, shopping and dining, this one is not to miss. Schedule your private showing today. Seller holds a Nebraska real estate license.

Key facts

• Front porch
• Centrally located
• 3,049 sq ft lot

Tags

• FRONT PORCH
• CENTRALLY LOCATED
• NEAR SOUTH NEIGHBORHOOD

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single family residence; Residential property; Built in 1900; One-story (main floor living); Slab foundation
• Construction: Building area 864; Above-grade finished area 864
• Exterior features: Lot up to 1/4 acre; Lot dimensions approximately 59 x 53; Lot included in price

Interior

• Bedrooms: Master bedroom on the main floor; Second bedroom on the main floor
• Bathrooms: One full bathroom on the main floor
• Heating & cooling: Natural gas forced air heating; Central air conditioning
• Interior features: Basement present (finished area information provided separately); No fireplaces

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $-87 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $95k (14.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $86k (21.7% below list).
• Recommended offer: $86k (21.7% below list) — sets the bar for 1% rule.
• Cap rate 5.3% 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: Prescott Elementary School (math 37% / reading 52%, grade F, #289 of 502 statewide, top 63%, 505 students, 71% FRL); Irving Middle School (math 50% / reading 55%, grade C+, #42 of 128 statewide, top 32%, 890 students, 46% FRL); Lincoln High School (math 38% / reading 41%, grade F, #184 of 261 statewide, top 76%, 2,196 students, 59% FRL) — zoned schools average 59% FRL vs 37% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.4%/yr); 146 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 48% 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 is only 15% of the median local income ($69k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $760 of loan paydown is wiped out by about $3k 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

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 13y 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 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $86,034 (21.7% 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. Built in 1900 — 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: 0.78% ✗
• Cap rate: 5.34%
• Cash-on-cash: -3.39%
• DSCR: 0.85
• GRM: 10.6

CMA / ARV

• ARV (median comp): $165,408
• List price: $109,900
• Delta: -33.56%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2520 Garfield St	0.00mi	2/1.0	864 (0%)	1mo	$100,000	$116	100
2839 Sumner St	0.32mi	2/1.0	845 (-2%)	3mo	$200,000	$237	79
1215 S 22nd St	0.39mi	3/1.0 (+1)	864 (0%)	5mo	$72,000	$83	73
1940 Pepper Ave	0.29mi	2/1.0	904 (+5%)	8mo	$168,500	$186	72
2776 California Ct	0.66mi	2/1.0	885 (+2%)	1mo	$80,000	$90	64
3228 Normal Blvd	0.58mi	2/1.0	826 (-4%)	8mo	$129,400	$157	60
1349 Chautauqua Ave	0.60mi	2/1.0	816 (-6%)	6mo	$165,000	$202	58
3132 F St	0.75mi	2/1.0	904 (+5%)	1mo	$215,000	$238	57
3244 C St	0.67mi	2/1.0	936 (+8%)	6mo	$215,000	$230	50
1021 S 31st St	0.63mi	2/1.0	958 (+11%)	8mo	$200,000	$209	46
3234 C St	0.66mi	2/2.0	936 (+8%)	7mo	$200,000	$214	46
901 S 24th St	0.56mi	1/1.0 (-1)	981 (+14%)	2mo	$128,000	$130	45

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 · 2.38% rent growth · sell at horizon

5-year hold

• IRR: -22.7%
• Equity multiple: 0.22×
• Total profit: $-23,866
• Equity at exit: $16,386

10-year hold

• IRR: -18.6%
• Equity multiple: 0.02×
• Total profit: $-30,008
• Equity at exit: $9,502

Cash invested: $30,772 (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 68502

• Rents YoY: 2.4%
• Active inventory: 146
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $860 high
• Mortgage (P&I): −$576
• Tax from tax record: −$145 /mo · $1,735/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$181
• Net cashflow: $-87

Break-even live

Break-even rent $970

Max offer price $94,530

Occupancy floor —

Sensitivity live

Price	-10% $-25	-5% $-56	+0% $-87	+5% $-118	+10% $-149
Rent	-10% $-155	-5% $-121	+0% $-87	+5% $-53	+10% $-19
Rate	-1.0pp $-32	-0.5pp $-59	base $-87	+0.5pp $-115	+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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2423 B St Unit 1 Lincoln, NE	2.0	1.0	705	$845	$1.20	45d	1	0.20mi
2335 B St Unit 5 Lincoln, NE	2.0	1.0	920	$875	$0.95	23d	1	0.22mi
2144 B St Unit 3 Lincoln, NE	1.0	1.0	700	$700	$1.00	23d	1	0.33mi
1560 S 20th St Lincoln, NE	2.0	1.0	900	$999	$1.11	23d	1	0.35mi
1444 S 20th St Lincoln, NE	2.0	1.0	743	$930	$1.25	45d	1	0.35mi
1438 S 20th St Lincoln, NE	1.0	1.0	623	$745	$1.20	23d	1	0.35mi
2000 Washington St Lincoln, NE	2.0	1.0	743	$895	$1.20	45d	1	0.35mi
1424 S 20th St Lincoln, NE	1.0	1.0	619	$835	$1.35	45d	1	0.35mi
1100 S 25th St Unit 3 Lincoln, NE	1.0	1.0	553	$825	$1.49	45d	1	0.36mi
2209 D St Lincoln, NE	1.0–2.0	1.0	760	$914	$1.20	15d	3	0.41mi
1001 S 26th St Lincoln, NE	2.0	1.0	790	$799	$1.01	15d	1	0.44mi
1528 S 19th St Unit 20 Lincoln, NE	2.0	1.0	821	$845	$1.03	23d	1	0.45mi
2510 E St Unit 3 Lincoln, NE	2.0	1.0	800	$875	$1.09	15d	1	0.47mi
2444 E St Lincoln, NE	2.0	1.0	650	$749	$1.15	45d	1	0.48mi
1833 Washington St Lincoln, NE	2.0	1.0	761	$829	$1.09	45d	1	0.51mi
2044 E St Lincoln, NE	1.0	1.0	575	$695	$1.21	23d	1	0.58mi
3137 South St Lincoln, NE	2.0	1.0	625	$799	$1.28	45d	1	0.58mi
1736 Euclid Ave Lincoln, NE	2.0	1.0	1120	$850	$0.76	23d	1	0.59mi
2457 S 27th St Unit B Lincoln, NE	2.0	1.0	950	$1,450	$1.53	45d	1	0.61mi
1227 S 18th St Lincoln, NE	1.0	1.0	702	$695	$0.99	23d	1	0.61mi
1730 B St Apt 2 Lincoln, NE	2.0	1.0	911	$950	$1.04	45d	1	0.62mi
861 S 29th St Unit 865 Lincoln, NE	2.0	1.0	902	$795	$0.88	15d	1	0.63mi
1901 E St Apt 1 Lincoln, NE	1.0	1.0	566	$700	$1.24	15d	1	0.63mi
1701 B St Lincoln, NE	1.0	1.0	830	$800	$0.96	45d	1	0.64mi
2040 F St Unit 7 Lincoln, NE	1.0	1.0	570	$695	$1.22	15d	1	0.64mi
2068 S 18th St Unit 1 Lincoln, NE	3.0	1.0	1048	$1,295	$1.24	45d	1	0.64mi
1640 Washington St Unit 1 Lincoln, NE	1.0	1.0	563	$695	$1.23	23d	1	0.65mi
1641 Prospect St Unit 3 Lincoln, NE	2.0	1.0	761	$1,099	$1.44	23d	1	0.66mi
2527 H St Lincoln, NE	2.0	1.0	625	$725	$1.16	45d	1	0.68mi
1900 F St Unit B12 Lincoln, NE	1.0	1.0	648	$750	$1.16	45d	1	0.73mi
636 S 27th St Apt 6 Lincoln, NE	2.0	1.0	690	$725	$1.05	23d	1	0.73mi
1905 G St Unit 3 Lincoln, NE	1.0	1.0	755	$800	$1.06	45d	1	0.74mi
1905 G St Unit 1 Lincoln, NE	2.0	2.0	935	$960	$1.03	45d	1	0.74mi
1530 Rose St Unit 1534 Lincoln, NE	2.0	1.0	864	$975	$1.13	45d	1	0.74mi
1612 C St Lincoln, NE	2.0	1.0	720	$829	$1.15	23d	1	0.75mi
1820 F St Unit 7 Lincoln, NE	1.0	1.0	616	$725	$1.18	15d	1	0.75mi
1820 F St Unit 4 Lincoln, NE	1.0	1.0	616	$725	$1.18	45d	1	0.75mi
1619 D St Unit 1621 Lincoln, NE	2.0	2.0	750	$1,195	$1.59	15d	1	0.75mi
1035 S 17th St Lincoln, NE	1.0	1.0	750	$725	$0.97	23d	1	0.76mi
1609 D St Unit 1 Lincoln, NE	1.0	1.0	646	$675	$1.04	45d	1	0.76mi

Listing history 22 events

1. 2026-05-13
   listed $109,900 New 465-char remark
2. 2026-05-13
   historical
3. 2026-05-02
   listed $114,000 New
4. 2026-04-21
   status Pending
5. 2026-04-20
   historical
6. 2026-04-10
   listed $114,000 New
7. 2026-04-10
   historical
8. 2026-03-09
   listed $117,500 New
9. 2026-03-09
   historical
10. 2026-01-20
    listed $127,500 New
11. 2025-10-02
    historical $1,050
12. 2025-09-25
    listed $1,050
13. 2025-07-28
    historical $1,000
14. 2025-07-19
    listed $1,000
15. 2022-07-25
    price $1,000
16. 2018-10-18
    soldstatus $55,000
17. 2014-01-07
    soldstatus $47,000
18. 2014-01-03
    soldstatus $46,750
19. 2013-11-27
    historical
20. 2013-11-20
    listed $55,000
21. 2013-11-13
    historical
22. 2013-08-13
    listed $55,000

ⓘ 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: $1,735 · $145/mo
• Projected year-2 tax: $1,901 · $158/mo
• Expected delta: +$167/yr (+$14/mo · 9.6%)

ⓘ 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 ≥104°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: $10,324
• − Mortgage interest: −$6,156
• − Property taxes: −$1,735
• − Insurance: −$550
• − Repairs & maintenance: −$826
• − Management: −$826
• − Depreciation: −$3,197
• Taxable loss: −$2,965
• Est. tax savings @ 24.0%: +$712
• After-tax cash flow: $-332/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): 25,846
• Household income: $68,523
• Rent vs Own: 44.4% rent · 55.6% own
• Severe rent burden: 1252.0

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 13% Two or more races 11% Black 6% Asian 3%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Portuguese 3% Romanian 2% Lithuanian 2%
• Foreign-born: 10% · Canada, Vietnam, Philippines
• Languages at home: 86% English-only · Spanish 9% Other Asian/Pacific 2% French/Haitian/Cajun 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: ▼ -252.87%
• Current HPI: 240.304
• Rent YoY: ▲ 2.38%
• 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

+81.8% since first listed

24 events — show timeline

• 2026-06-05 Sold (MLS) $100,000 GPRMLS
• 2026-05-27 Pending — GPRMLS
• 2026-05-13 Listing Removed — GPRMLS
• 2026-05-13 Listed $109,900 GPRMLS
• 2026-05-02 Listed $114,000 GPRMLS
• 2026-04-21 Pending — GPRMLS
• 2026-04-20 Listing Removed — GPRMLS
• 2026-04-10 Listing Removed — GPRMLS
• 2026-04-10 Listed $114,000 GPRMLS
• 2026-03-09 Listing Removed — GPRMLS
• 2026-03-09 Listed $117,500 GPRMLS
• 2026-01-20 Listed $127,500 GPRMLS
• 2025-10-02 Rental Removed $1,050 APPFOLIO
• 2025-09-25 Listed for Rent $1,050 APPFOLIO
• 2025-07-28 Rental Removed $1,000 APPFOLIO
• 2025-07-19 Listed for Rent $1,000 APPFOLIO
• 2022-07-25 Price Changed $1,000 RENT.
• 2018-10-18 Sold (Public Records) $55,000 Public Records
• 2014-01-07 Sold (Public Records) $47,000 Public Records
• 2014-01-03 Sold (MLS) $46,750 GPRMLS
• 2013-11-27 Listing Removed — GPRMLS
• 2013-11-20 Listed $55,000 GPRMLS
• 2013-11-13 Listing Removed — GPRMLS
• 2013-08-13 Listed $55,000 GPRMLS

Property tax history

+8.2%/yr

Latest (2025): $1,735 · +27.6% YoY. Source: county tax records.