12811 Boyd Plz #6

Omaha, NE 68164

$85,000D+

3 bd · 2.0 ba · 1,152 sqft · Built 1983 · Manufactured · Pending · 36 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,714/mo
• Mortgage (P&I): −$446
• Tax + insurance: −$71
• HOA: −$745
• Vac / Maint / Mgmt: −$360
• Net cashflow: $92/mo
• Annual: $1,102/yr
• Cap rate: 7.59%
• Cash-on-cash: 4.63%
• DSCR: 1.21
• 1% rule: 2.02%
• Cash to close: $23,800

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $85k.
• At list price, monthly cash flow is $92 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• It's been on market 36 days — a 3% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $82k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• 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: Fullerton Magnet Center (math 37% / reading 47%, grade F, #319 of 502 statewide, top 68%, 458 students, 0% FRL); Alice Buffett Magnet Middle School (math 37% / reading 46%, grade F, #80 of 128 statewide, top 63%, 1,124 students, 0% FRL); Westview High School (743 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 42% at this address vs 24% district-wide (+18 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.
• Watch-outs: HOA is 43% of rent.
• Market conditions: Rents rising fast (+7.4%/yr); 115 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 4d 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).
• Douglas County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $20k; list at $85k implies a 325% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 7.4% rent growth), your $24k cash investment doubles in ~8 years — after that, you're playing with house money.
• Cap rate 7.6% 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.

Questions for listing agent

• It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.
• 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.