12136 Burt St · Omaha, NE 68154

$211,000

3 bd · 2.0 ba · 1,692 sqft · Condo public records · 36 Days on market

Built 1975 $125/sqft · 39% below area Est $299k · 29% under $375/mo HOA · 20% of rent

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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 +7.4/30.0
• Livability +4.2/5.0
• 1% rule +4.0/10.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• DSCR +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks

Step into this light-filled 3-bedroom, 3-bathroom home where comfort meets peace of mind. Meticulously maintained, this residence features a spacious, inviting living room that flows seamlessly onto a quaint, private patio - perfect for morning coffee. The functional layout includes a front-facing kitchen with a cozy breakfast nook and a convenient main-floor powder room. Upstairs, the oversized primary suite easily accommodates a king-size bed and additional furniture, complemented by a large closet plus additional storage. Looking for more room? The unfinished basement offers ample storage or the potential to double your living space. All appliances included, and an HOA that covers water,

Key facts

• Front-facing kitchen
• Breakfast nook
• Large closet

Tags

• PRIVATE PATIO
• FRONT-FACING KITCHEN
• BREAKFAST NOOK
• OVERSIZED PRIMARY SUITE
• LARGE CLOSET
• UNFINISHED BASEMENT

Property features AI

Finance

• HOA & community: Community association: Miracle Hills Townhome; Monthly association fee of $375; Association covers exterior maintenance, grounds maintenance, snow removal, common area maintenance, and management

Exterior

• Parking: Detached garage (1 covered space) — 1 garage space, detached parking
• Utilities: Public water; Public sewer
• Home design: Single family residence; Two levels; Not new; Irregular lot shape
• Construction: Built in 1975; Masonite and brick exterior; Composition roof; Block foundation
• Exterior features: Porch; Patio; Sprinkler system; Partial fencing; Corner lot and common area

Interior

• Kitchen: Range; Refrigerator; Dishwasher; Microwave; Disposal; Dining area; Vinyl flooring and window covering in the kitchen
• Bedrooms: Master bedroom on 2nd floor with wall-to-wall carpeting, window coverings, ceiling fan, and walk-in closet; Additional bedrooms on 2nd floor with wall-to-wall carpeting, window coverings, and ceiling fans
• Flooring: Wall-to-wall carpeting in bedrooms and living areas; Vinyl flooring in the kitchen
• Bathrooms: Three bathrooms total: one full bath, one three-quarter bath, and one half bath; One bathroom on the main level
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Sliding doors; Fireplace with gas log in the living room
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $211k.

Deal economics

• At list price, monthly cash flow is $-275 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $162k (23.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $190k (10.2% below list).
• Recommended offer: $162k (23.0% below list) — sets the bar for cash-flow.
• Cap rate 4.7% 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.
• Zoned schools: Columbian Elementary School (math 62% / reading 72%, grade B+, #64 of 502 statewide, top 14%, 294 students, 0% FRL); Beveridge Magnet Middle School (math 27% / reading 37%, grade F, #107 of 128 statewide, top 84%, 816 students, 0% FRL); Burke High School (math 28% / reading 38%, grade F, #226 of 261 statewide, top 87%, 1,915 students, 0% FRL) — zoned schools average 0% FRL vs 62% district-wide (62 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 44% at this address vs 24% district-wide (+20 pts) — the actual schools serving this property are materially stronger than the Omaha Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+4.3%/yr); 116 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 4,539 units permitted in Douglas County in 2024 (2,583 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Douglas County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($205k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $60k; list at $211k implies a 252% gain — meaningful room to come down on a strong offer.

Recommended offer $162,395 (23.0% 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 36 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.90% ✗
• Cap rate: 4.73%
• Cash-on-cash: -5.59%
• DSCR: 0.75
• GRM: 9.3

CMA / ARV

• ARV (median comp): $298,789
• List price: $211,000
• Delta: -29.38%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.27% rent growth · sell at horizon

5-year hold

• IRR: -23.9%
• Equity multiple: 0.17×
• Total profit: $-49,040
• Equity at exit: $31,461

10-year hold

• IRR: -15.0%
• Equity multiple: 0.09×
• Total profit: $-54,036
• Equity at exit: $18,243

Cash invested: $59,080 (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 68154

• Rents YoY: 4.3%
• Active inventory: 116
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,896 high
• Mortgage (P&I): −$1,107
• Tax from tax record: −$203 /mo · $2,441/yr
• Insurance: −$88
• HOA: −$375
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $-275

Break-even live

Break-even rent $2,244

Max offer price $162,395

Occupancy floor —

Sensitivity live

Price	-10% $-156	-5% $-215	+0% $-275	+5% $-335	+10% $-395
Rent	-10% $-425	-5% $-350	+0% $-275	+5% $-200	+10% $-125
Rate	-1.0pp $-169	-0.5pp $-221	base $-275	+0.5pp $-330	+1.0pp $-385

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: $52,750
• Closing costs: $6,330
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12418 Burt Plz Omaha, NE	1.0–2.0	1.0–2.0	919	$1,075	$1.17	5d	9	0.28mi
1506 N 120th St Omaha, NE	1.0–2.0	1.0–2.0	975	$1,400	$1.44	45d	1	0.41mi
12500 W Dodge Rd Omaha, NE	1.0–3.0	1.0–2.0	1188	$3,330	$2.80	4d	25	0.43mi
11766 Wakeley Plz Omaha, NE	1.0–3.0	1.0–3.0	1380	$1,840	$1.33	4d	26	0.43mi
12021 Decatur Plz Omaha, NE	1.0–2.0	1.0	888	$1,605	$1.81	4d	14	0.63mi
11510 Farnam St Omaha, NE	3.0	2.5	1646	$2,250	$1.37	12d	1	0.75mi
11510 Farnam St Omaha, NE	3.0	2.5	1646	$2,250	$1.37	45d	1	0.75mi
11525 Decatur Plz Omaha, NE	1.0–2.0	1.0–2.0	1197	$2,255	$1.88	5d	30	0.80mi
12511 Patrick Cir Omaha, NE	4.0	2.5	1474	$2,200	$1.49	25d	1	0.83mi
11233 Decatur Plz Omaha, NE	1.0–2.0	1.0–2.0	869	$1,470	$1.69	5d	23	0.94mi
2718 N 118th St Omaha, NE	1.0–2.0	1.0–2.0	944	$2,150	$2.28	4d	52	1.14mi
12724 Grant Cir Omaha, NE	3.0	2.0	1848	$2,040	$1.10	12d	1	1.14mi
10636 Nicholas St Omaha, NE	3.0	2.0	1326	$2,150	$1.62	45d	1	1.16mi
10927 Marcy Plz Omaha, NE	4.0	2.5	1914	$1,950	$1.02	23d	1	1.40mi
3203 N 121st Plz Omaha, NE	1.0–2.0	1.0–2.0	1060	$1,694	$1.60	4d	8	1.40mi
2510 N 109th Plz Omaha, NE	1.0–2.0	1.0–2.0	1021	$1,615	$1.58	4d	21	1.45mi
10351 Hamilton Plz Omaha, NE	2.0–3.0	2.0	1151	$1,655	$1.44	4d	7	1.48mi

HOA detail condo

• Monthly dues: $375 · $4,500/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-21
   statusdays on market $211,000 Pending 36 DOM
2. 2026-06-18
   days on market $211,000 Active 35 DOM
3. 2026-06-17
   days on market $211,000 Active 34 DOM
4. 2026-06-16
   days on market $211,000 Active 33 DOM
5. 2026-06-15
   days on market $211,000 Active 32 DOM
6. 2026-06-13
   days on market $211,000 Active 30 DOM
7. 2026-06-10
   days on market $211,000 Active 27 DOM
8. 2026-06-09
   days on market $211,000 Active 26 DOM
9. 2026-06-08
   days on market $211,000 Active 25 DOM
10. 2026-06-07
    days on market $211,000 Active 24 DOM
11. 2026-06-03
    days on market $211,000 Active 20 DOM
12. 2026-06-03
    days on market $211,000 Active 19 DOM
13. 2026-06-01
    days on market $211,000 Active 18 DOM
14. 2026-06-01
    days on market $211,000 Active 17 DOM
15. 2026-05-08
    listed $211,000 New 853-char remark
16. 1992-09-28
    soldstatus $59,950

ⓘ 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: $2,441 · $203/mo
• Projected year-2 tax: $3,650 · $304/mo
• Expected delta: +$1,209/yr (+$101/mo · 49.5%)

ⓘ 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 ≥102°F today · 16 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: $22,750
• − Mortgage interest: −$11,819
• − Property taxes: −$2,441
• − Insurance: −$1,055
• − Repairs & maintenance: −$1,820
• − Management: −$1,820
• − HOA: −$4,500
• − Depreciation: −$6,138
• Taxable loss: −$6,844
• Est. tax savings @ 24.0%: +$1,642
• After-tax cash flow: $-1,659/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): 24,060
• Household income: $81,385
• Rent vs Own: 42.9% rent · 57.1% own
• Severe rent burden: 907.0

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: Predominantly White (79%)
• Race & ethnicity: White 79% Two or more races 7% Black 6% Hispanic / Latino 6% Asian 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 4% Slovak 3% Portuguese 3%
• Foreign-born: 7% · Canada, China
• Languages at home: 92% English-only · Spanish 2% Other Indo-European 2% Russian/Polish/Slavic 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: ▼ -186.70%
• Current HPI: 229.7897
• Rent YoY: ▲ 4.27%
• 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

+252.0% since first listed

2 events — show timeline

• 2026-05-08 Listed $211,000 GPRMLS
• 1992-09-28 Sold (Public Records) $59,950 Public Records

Property tax history

+0.9%/yr

Latest (2015): $2,441 · +0.9% YoY. Source: county tax records.