5467 S 194 Ave · Omaha, NE 68135-0000

$289,900

3 bd · 2.0 ba · 1,342 sqft · Other public records · 2 Days on market

Built 2010 6,534 sqft lot $8/mo HOA

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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).

• Cash flow +7.8/30.0
• ARV discount +7.5/15.0
• Schools +5.8/10.0
• Appreciation +5.0/10.0
• Livability +4.2/5.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.9/10.0

Listing remarks MLS

Location, Location, Location! This 1 owner home sits in Arbor Gate community on a nice sized corner lot. Off the main roads and quietly settled. Nice sized deck off the back of the house and a yard shed. Gretna schools, AMA, pictures to come. Showings start Sunday, March 12, at 9 am. Hurry over as this will not last long. Note the kitchen refrigerator does not convey, but the refrigerator in the garage will comvey.

Key facts

• Large corner lot
• Storage shed
• New lvp flooring

Tags

• LARGE CORNER LOT
• NEW LVP FLOORING
• FULLY UPDATED MAIN BATHROOM
• NEW STAINLESS STEEL APPLIANCES
• FULLY FENCED FLAT BACKYARD
• STORAGE SHED

Property features AI

Finance

• Other: Living area above grade: 1,113 (finished); Below-grade finished area: 228; Total living area: 1,341
• HOA & community: Homeowners association with $90 annual fee

Exterior

• Parking: Attached 2-car garage; Two covered parking spaces
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Split-entry design; Not new / not a model; Built in 2010
• Construction: Concrete perimeter foundation
• Exterior features: Deck; Sprinkler system; Wood privacy fencing; Shed(s)

Interior

• Bedrooms: Master bedroom on the main floor; Additional bedrooms on the main floor
• Bathrooms: Two bathrooms total (one full, one three-quarter); Both main-level bathrooms
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Partially finished basement; No fireplaces

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $290k.

Deal economics

• At list price, monthly cash flow is $-316 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $234k (19.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $219k (24.4% below list).
• Recommended offer: $219k (24.4% below list) — sets the bar for 1% rule.
• Cap rate 5.0% 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.
• Gretna Public Schools (suburban): math 64% / reading 64% proficiency, ranked #6 of 111 in NE (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 5% free/reduced lunch — higher-income household profile.
• Zoned schools: Whitetail Creek Elementary (math 72% / reading 72%, grade A-, #27 of 502 statewide, top 7%, 538 students, 6% FRL); Gretna Middle School (math 60% / reading 57%, grade B, #21 of 128 statewide, top 17%, 728 students, 14% FRL); Gretna High School (math 63% / reading 64%, grade B-, #37 of 261 statewide, top 14%, 1,729 students, 11% FRL).
• Market conditions: 5 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 4,539 units permitted in Douglas County in 2024 (2,583 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($2k loan paydown + $9k appreciation (3.0% local appreciation)).
• Douglas County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 4, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 3y 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.

Recommended offer $219,077 (24.4% 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. 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. 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?
5. 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?
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: 0.76% ✗
• Cap rate: 4.98%
• Cash-on-cash: -4.68%
• DSCR: 0.79
• GRM: 11.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 3.2%
• Equity multiple: 1.18×
• Total profit: $14,837
• Equity at exit: $130,352

10-year hold

• IRR: 6.6%
• Equity multiple: 2.00×
• Total profit: $81,179
• Equity at exit: $200,887

Cash invested: $81,172 (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 68135-0000

• Active inventory: 5
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $2,191 high
• Mortgage (P&I): −$1,520
• Tax from tax record: −$398 /mo · $4,775/yr
• Insurance: −$121
• HOA: −$8
• Vacancy / Maint / Mgmt: −$460
• Net cashflow: $-316

Break-even live

Break-even rent $2,591

Max offer price $234,024

Occupancy floor —

Sensitivity live

Price	-10% $-152	-5% $-234	+0% $-316	+5% $-398	+10% $-480
Rent	-10% $-489	-5% $-403	+0% $-316	+5% $-230	+10% $-143
Rate	-1.0pp $-170	-0.5pp $-243	base $-316	+0.5pp $-391	+1.0pp $-468

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: $72,475
• Closing costs: $8,697
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19714 Laci St Omaha, NE	3.0	2.0	1600	$2,200	$1.38	4d	1	0.34mi
6121 S 190th Ter Omaha, NE	3.0	2.0	1232	$2,100	$1.70	11d	1	0.57mi
6601 S 194th Ter Plz Omaha, NE	1.0–3.0	1.0–2.0	1083	$2,613	$2.41	3d	16	0.66mi
5964 S 186th Ave Omaha, NE	3.0	2.0	1370	$2,100	$1.53	15d	1	0.72mi
19224 Olive Plz Gretna, NE	2.0	2.0	1149	$1,645	$1.43	3d	1	1.08mi
6108 Coventry Dr Elkhorn, NE	1.0–3.0	1.0–2.5	1220	$2,395	$1.96	2d	17	1.09mi
20861 T Plz Elkhorn, NE	3.0	2.5	1384	$2,200	$1.59	3d	1	1.19mi
18192 Hayes Ct Unit 18192 Omaha, NE	2.0	2.0	1059	$1,950	$1.84	15d	1	1.20mi
4205 S 204th St Omaha, NE	1.0–3.0	1.0–2.0	1015	$2,950	$2.90	3d	18	1.29mi
4910 S 209th Ct Douglas, NE	1.0–2.0	1.0–2.0	911	$1,593	$1.75	2d	71	1.32mi

HOA detail

• Monthly dues: $8 · $96/yr

Listing history 8 events

1. 2026-04-12
   status Pending
2. 2026-04-09
   listed $289,900 New
3. 2023-04-20
   soldstatus $255,000
4. 2023-04-17
   soldstatus $255,000 Sold 420-char remark

   Show marketing remark (420 chars)

   Location, Location, Location! This 1 owner home sits in Arbor Gate community on a nice sized corner lot. Off the main roads and quietly settled. Nice sized deck off the back of the house and a yard shed. Gretna schools, AMA, pictures to come. Showings start Sunday, March 12, at 9 am. Hurry over as this will not last long. Note the kitchen refrigerator does not convey, but the refrigerator in the garage will comvey.

5. 2023-03-13
   status Pending 420-char remark

   Show marketing remark (420 chars)

   Location, Location, Location! This 1 owner home sits in Arbor Gate community on a nice sized corner lot. Off the main roads and quietly settled. Nice sized deck off the back of the house and a yard shed. Gretna schools, AMA, pictures to come. Showings start Sunday, March 12, at 9 am. Hurry over as this will not last long. Note the kitchen refrigerator does not convey, but the refrigerator in the garage will comvey.

6. 2023-03-11
   listed $250,000 New 420-char remark

   Show marketing remark (420 chars)

   Location, Location, Location! This 1 owner home sits in Arbor Gate community on a nice sized corner lot. Off the main roads and quietly settled. Nice sized deck off the back of the house and a yard shed. Gretna schools, AMA, pictures to come. Showings start Sunday, March 12, at 9 am. Hurry over as this will not last long. Note the kitchen refrigerator does not convey, but the refrigerator in the garage will comvey.

7. 2009-08-03
   soldstatus $153,777
8. 2008-08-21
   soldstatus $3,502,000

ⓘ 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: $4,775 · $398/mo
• Projected year-2 tax: $5,015 · $418/mo
• Expected delta: +$240/yr (+$20/mo · 5.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% 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: $26,289
• − Mortgage interest: −$16,239
• − Property taxes: −$4,775
• − Insurance: −$1,450
• − Repairs & maintenance: −$2,103
• − Management: −$2,103
• − HOA: −$96
• − Depreciation: −$8,433
• Taxable loss: −$8,910
• Est. tax savings @ 24.0%: +$2,138
• After-tax cash flow: $-1,657/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: Gretna Public Schools
• NCES district ID: 3171220
• Math proficiency: 64% ▼ -10.00%
• Reading proficiency: 64% ▼ -4.00%
• Median HH income: $89,845
• Composite: 58.21/100
• National rank: #1023
• State rank: #6 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

No demographic data for this ZIP.

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• 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

-91.7% since first listed

8 events — show timeline

• 2026-04-12 Pending — GPRMLS
• 2026-04-09 Listed $289,900 GPRMLS
• 2023-04-20 Sold (Public Records) $255,000 Public Records
• 2023-04-17 Sold (MLS) $255,000 GPRMLS
• 2023-03-13 Pending — GPRMLS
• 2023-03-11 Listed $250,000 GPRMLS
• 2009-08-03 Sold (Public Records) $153,777 Public Records
• 2008-08-21 Sold (Public Records) $3,502,000 Public Records

Property tax history

+2.7%/yr

Latest (2025): $4,775 · -1.4% YoY. Source: county tax records.