2429 Fontenelle Blvd · Omaha, NE 68104

$179,000

4 bd · 2.0 ba · 2,810 sqft · Other public records · 17 Days on market

Built 1917

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Why this score? — see what drove the B- 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 +28.4/30.0
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Make this beautiful home yours! Central Air Conditioning! Spacious ,warm, filled with gorgeous original woodwork, open floor plan, wood floors throughout describes this 4 bedroom /2 bathroom home with a great Mother-in-law suite. Newer roof and plumbing. Location is fantastic with park with walking trail, feed the ducks, lots of family enjoyment all within walking distance. Don't wait - come see for yourself!

Key facts

• Built 1917
• Listed 17 days

Property features AI

Exterior

• Home design: Built in 1917; Traditional single-family residence
• Construction: Original construction from 1917
• Exterior features: Located in the North Omaha neighborhood

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $179k.

Deal economics

• At list price, monthly cash flow is $579 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $179k).
• Recommended offer: $176k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.2% 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 (+2.4%/yr); 172 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 4,539 units permitted in Douglas County in 2024 (2,583 in 5+ unit buildings).
• At $2,428/mo this rent would consume 48% of the median local household income ($61k/yr) (locally 1738% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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.
• At projected returns (-3.0% appreciation + 2.4% rent growth), your $50k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 19y 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.
• Current owner paid $99k; list at $179k implies a 81% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1917 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $176,315 (1.5% below list)

Questions for the listing agent

1. Built in 1917 — 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: 1.36% ✓
• Cap rate: 10.18%
• Cash-on-cash: 13.87%
• DSCR: 1.62
• GRM: 6.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.35% rent growth · sell at horizon

5-year hold

• IRR: 3.3%
• Equity multiple: 1.13×
• Total profit: $6,406
• Equity at exit: $26,689

10-year hold

• IRR: 12.3%
• Equity multiple: 1.94×
• Total profit: $47,093
• Equity at exit: $15,477

Cash invested: $50,120 (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 68104

• Rents YoY: 2.4%
• Active inventory: 172
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $2,428 high
• Mortgage (P&I): −$939
• Tax from tax record: −$326 /mo · $3,908/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$510
• Net cashflow: $579

Break-even live

Break-even rent $1,695

Max offer price $179,000

Occupancy floor 71%

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5011 Miami St Omaha, NE	3.0	3.0	2180	$2,200	$1.01	43d	1	0.41mi
4542 Franklin St Unit Labs Omaha, NE	5.0	2.5	2000	$1,900	$0.95	43d	1	0.45mi
5002 Lafayette Ave Omaha, NE	5.0	2.0	2324	$2,450	$1.05	14d	1	0.81mi
5115 Lafayette Ave Omaha, NE	5.0	4.5	3228	$3,650	$1.13	2d	1	0.94mi
620 N 46th St Omaha, NE	3.0	2.5	2410	$3,497	$1.45	43d	1	1.14mi
5004 Webster St Omaha, NE	4.0	3.0	2156	$2,500	$1.16	43d	1	1.16mi
4240 Fowler Ave Omaha, NE	4.0	2.0	1956	$1,895	$0.97	23d	1	1.38mi
4182 Wakeley St Omaha, NE	4.0	3.5	2472	$2,775	$1.12	11d	1	1.40mi

Listing history 32 events

1. 2026-06-18
   days on market $179,000 Active 17 DOM
2. 2026-06-17
   days on market $179,000 Active 16 DOM
3. 2026-06-16
   days on market $179,000 Active 15 DOM
4. 2026-06-15
   days on market $179,000 Active 14 DOM
5. 2026-06-13
   days on market $179,000 Active 12 DOM
6. 2026-06-10
   days on market $179,000 Active 9 DOM
7. 2026-06-09
   days on market $179,000 Active 8 DOM
8. 2026-06-08
   days on market $179,000 Active 7 DOM
9. 2026-06-07
   days on market $179,000 Active 6 DOM
10. 2026-06-03
    days on market $179,000 Active 2 DOM
11. 2026-06-01
    days on marketlisting id $179,000 Active 1 DOM
12. 2026-06-01
    days on market $179,000 Active 4 DOM
13. 2026-05-28
    listed $179,000 Active
14. 2015-09-08
    soldstatus $99,000
15. 2015-09-03
    soldstatus $98,500 Sold 417-char remark

    Show marketing remark (417 chars)

    Make this beautiful home yours! Central Air Conditioning! Spacious ,warm, filled with gorgeous original woodwork, open floor plan, wood floors throughout describes this 4 bedroom /2 bathroom home with a great Mother-in-law suite. Newer roof and plumbing. Location is fantastic with park with walking trail, feed the ducks, lots of family enjoyment all within walking distance. Don't wait - come see for yourself!

16. 2015-08-26
    status Pending 417-char remark

    Show marketing remark (417 chars)

    Make this beautiful home yours! Central Air Conditioning! Spacious ,warm, filled with gorgeous original woodwork, open floor plan, wood floors throughout describes this 4 bedroom /2 bathroom home with a great Mother-in-law suite. Newer roof and plumbing. Location is fantastic with park with walking trail, feed the ducks, lots of family enjoyment all within walking distance. Don't wait - come see for yourself!

17. 2015-07-13
    listed $98,500 Active - New 417-char remark

    Show marketing remark (417 chars)

    Make this beautiful home yours! Central Air Conditioning! Spacious ,warm, filled with gorgeous original woodwork, open floor plan, wood floors throughout describes this 4 bedroom /2 bathroom home with a great Mother-in-law suite. Newer roof and plumbing. Location is fantastic with park with walking trail, feed the ducks, lots of family enjoyment all within walking distance. Don't wait - come see for yourself!

18. 2015-07-13
    historical

    Show marketing remark (417 chars)

    Make this beautiful home yours! Central Air Conditioning! Spacious ,warm, filled with gorgeous original woodwork, open floor plan, wood floors throughout describes this 4 bedroom /2 bathroom home with a great Mother-in-law suite. Newer roof and plumbing. Location is fantastic with park with walking trail, feed the ducks, lots of family enjoyment all within walking distance. Don't wait - come see for yourself!

19. 2015-05-30
    listed $103,000 Active - New
20. 2015-05-22
    historical
21. 2015-05-04
    listed $104,900 Active - New
22. 2015-05-04
    historical
23. 2015-04-01
    price $104,000
24. 2014-11-04
    listed $114,900 Active
25. 2008-10-17
    soldstatus $83,888
26. 2008-08-16
    historical
27. 2008-04-30
    listed $45,000
28. 2008-04-16
    historical
29. 2008-02-08
    listed $50,000
30. 2008-01-26
    historical
31. 2007-10-25
    listed $89,000
32. 2007-10-22
    soldstatus $112,825

ⓘ 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: $3,908 · $326/mo
• Projected year-2 tax: $3,908 · $326/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 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: $29,136
• − Mortgage interest: −$10,027
• − Property taxes: −$3,908
• − Insurance: −$895
• − Repairs & maintenance: −$2,331
• − Management: −$2,331
• − Depreciation: −$5,207
• Taxable income: $4,438
• Est. tax owed @ 24.0%: −$1,065
• After-tax cash flow: $5,885/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): 36,673
• Household income: $60,549
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 1738.0

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 0.68)
• Race & ethnicity: White 50% Black 23% Asian 12% Two or more races 11% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Slovak 2% Lithuanian 2% Romanian 2%
• Foreign-born: 13% · Philippines, Canada, India
• Languages at home: 83% English-only · Other Asian/Pacific 8% Spanish 5% Other Indo-European 2%

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: ▼ -196.54%
• Current HPI: 298.8625
• Rent YoY: ▲ 2.35%
• 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

+58.7% since first listed

20 events — show timeline

• 2026-05-28 Listed $179,000 FSBO.com
• 2015-09-08 Sold (Public Records) $99,000 Public Records
• 2015-09-03 Sold (MLS) $98,500 GPRMLS
• 2015-08-26 Pending — GPRMLS
• 2015-07-13 Listed $98,500 GPRMLS
• 2015-07-13 Listing Removed — GPRMLS
• 2015-05-30 Listed $103,000 GPRMLS
• 2015-05-22 Listing Removed — GPRMLS
• 2015-05-04 Listed $104,900 GPRMLS
• 2015-05-04 Listing Removed — GPRMLS
• 2015-04-01 Price Changed $104,000 GPRMLS
• 2014-11-04 Listed $114,900 GPRMLS
• 2008-10-17 Sold (Public Records) $83,888 Public Records
• 2008-08-16 Listing Removed — GPRMLS
• 2008-04-30 Listed $45,000 GPRMLS
• 2008-04-16 Listing Removed — GPRMLS
• 2008-02-08 Listed $50,000 GPRMLS
• 2008-01-26 Listing Removed — GPRMLS
• 2007-10-25 Listed $89,000 GPRMLS
• 2007-10-22 Sold (Public Records) $112,825 Public Records

Property tax history

+4.2%/yr

Latest (2025): $3,908 · -0.1% YoY. Source: county tax records.