3532 N 28th Ave · Omaha, NE 68111

$220,000

3 bd · 1.0 ba · 1,105 sqft · Other public records · 11 Days on market

Built 1910 6,240 sqft lot

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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).

• Appreciation +10.0/10.0
• Cash flow +9.1/30.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Rent growth +3.3/5.0
• DSCR +2.5/10.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• 1% rule +1.8/10.0

Listing remarks

Contract Pending. Completely renovated from top to bottom, this stunning 3-bedroom home is truly move-in ready! Every detail has been thoughtfully updated with new electrical wiring, all new plumbing and new roof. Offering the perfect blend of modern comfort and peace of mind with security system monitored with cameras. Enjoy a brand-new furnace and central air system, ensuring year-round efficiency and comfort. New windows throughout provide abundant natural light while enhancing energy savings. Step outside to a newly built deck and installed privacy fence; perfect for relaxing, entertaining, or creating your own backyard retreat. Inside, you'll find a fresh, clean feel with updated finis

Key facts

• 6,240 sq ft lot
• Built 1910
• Listed 11 days

Property features AI

Exterior

• Parking: No garage
• Security: Security system
• Utilities: Public water; Public sewer; Electricity available; Natural gas available; Cable available; Phone available; Storm sewer
• Home design: Single-family residence; Two stories; Not new / not a model
• Construction: Aluminum siding; Composition roof; Block foundation; Built in 1910
• Exterior features: Porch; Deck; Chain-link and wood full fencing; Paved road access; Public sidewalk, curb and gutter, alley access; Level city lot (approximately 120 x 52)

Interior

• Kitchen: Wood-floored kitchen; Range; Oven; Refrigerator; Dishwasher; Microwave
• Bedrooms: Primary bedroom on 2nd floor with wall-to-wall carpeting (approx. 17 x 10.2); Two additional bedrooms on 2nd floor with wall-to-wall carpeting
• Flooring: Carpet; Ceramic tile; Wood
• Bathrooms: Two bathrooms total — one full and one half; main floor has a bathroom
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: High ceilings; Ceiling fan(s); Security system
• Laundry & utility: Washer and dryer included; Laundry area with concrete floor

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $220k.

Deal economics

• At list price, monthly cash flow is $-168 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $190k (13.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $149k (32.4% below list).
• Recommended offer: $149k (32.4% below list) — sets the bar for 1% rule.
• Cap rate 5.4% 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: Druid Hill Elementary School (math 12% / reading 12%, grade F, #489 of 502 statewide, top 98%, 279 students, 0% FRL); Monroe Middle School (math 8% / reading 15%, grade F, #127 of 128 statewide, top 99%, 769 students, 0% FRL); North High School (math 21% / reading 25%, grade F, #247 of 261 statewide, top 95%, 1,796 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.
• Market conditions: Rents rising (+3.2%/yr); 139 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 4,539 units permitted in Douglas County in 2024 (2,583 in 5+ unit buildings).
• This rent runs 42% of the median local income ($42k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $24k of equity ($2k loan paydown + $22k appreciation (10.0% local appreciation)).
• Douglas County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $148,780 (32.4% 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. Built in 1910 — 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. 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: 0.68% ✗
• Cap rate: 5.38%
• Cash-on-cash: -3.27%
• DSCR: 0.85
• GRM: 12.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.22% rent growth · sell at horizon

5-year hold

• IRR: 22.0%
• Equity multiple: 2.78×
• Total profit: $109,372
• Equity at exit: $198,193

10-year hold

• IRR: 19.8%
• Equity multiple: 6.37×
• Total profit: $330,993
• Equity at exit: $427,412

Cash invested: $61,600 (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 68111

• Home prices YoY: 4.0%
• Rents YoY: 3.2%
• Active inventory: 139
• Price-to-rent: 12.3×

Monthly cashflow live

• Estimated rent: $1,488 high
• Mortgage (P&I): −$1,154
• Tax from tax record: −$98 /mo · $1,174/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$312
• Net cashflow: $-168

Break-even live

Break-even rent $1,700

Max offer price $190,352

Occupancy floor —

Sensitivity live

Price	-10% $-43	-5% $-106	+0% $-168	+5% $-230	+10% $-292
Rent	-10% $-285	-5% $-227	+0% $-168	+5% $-109	+10% $-50
Rate	-1.0pp $-57	-0.5pp $-112	base $-168	+0.5pp $-225	+1.0pp $-283

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4201 N 22nd St Omaha, NE	3.0	1.0	1380	$1,545	$1.12	44d	1	0.66mi
3708 Florence Blvd Omaha, NE	3.0	1.0	1102	$1,395	$1.27	22d	1	0.70mi
3674 Bedford Ave Omaha, NE	3.0	1.0	864	$1,275	$1.48	24d	1	0.73mi
4125 N 19th St Omaha, NE	3.0	1.0	1266	$1,532	$1.21	44d	1	0.81mi
2816 N 19th Ave Omaha, NE	3.0	1.0	860	$1,700	$1.98	44d	1	0.86mi
3502 Lake St Omaha, NE	2.0	1.0	974	$995	$1.02	3d	1	0.88mi
3323 N 40th St Omaha, NE	2.0	1.0	1000	$1,575	$1.57	3d	1	0.90mi
1820 Miami St Omaha, NE	4.0	1.5	1306	$1,050	$0.80	44d	1	0.96mi
3356 N 41st St Omaha, NE	2.0	1.0	720	$1,295	$1.80	24d	1	1.04mi
4707 N 40th Ave Omaha, NE	3.0	1.0	1337	$1,500	$1.12	22d	1	1.16mi
5348 N 25th St Omaha, NE	4.0	1.0	1446	$1,600	$1.11	44d	1	1.18mi
4276 Binney St Omaha, NE	4.0	1.0	1358	$1,495	$1.10	44d	1	1.29mi
1816 Florence Blvd Apt 102 Omaha, NE	2.0	1.0	900	$900	$1.00	15d	1	1.32mi
3425 N 45th St Omaha, NE	2.0	1.0	872	$1,500	$1.72	15d	1	1.32mi
3430 Seward St Omaha, NE	3.0	1.0	1371	$1,695	$1.24	15d	1	1.34mi
1407 N 31st St Omaha, NE	2.0	1.0	1040	$1,395	$1.34	3d	1	1.36mi
3535 N 45th Ave Omaha, NE	3.0	1.0	1325	$1,800	$1.36	44d	1	1.38mi
5922 N 28th Ave Omaha, NE	2.0	1.0	764	$950	$1.24	3d	1	1.43mi

Listing history 2 events

1. 2026-05-18
   status Pending 993-char remark
2. 2026-05-07
   listed $220,000 New 993-char remark

ⓘ 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: $1,174 · $98/mo
• Projected year-2 tax: $3,806 · $317/mo
• Expected delta: +$2,632/yr (+$219/mo · 224.2%)

ⓘ 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) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥105°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: $17,854
• − Mortgage interest: −$12,323
• − Property taxes: −$1,174
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,428
• − Management: −$1,428
• − Depreciation: −$6,400
• Taxable loss: −$6,000
• Est. tax savings @ 24.0%: +$1,440
• After-tax cash flow: $-574/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): 24,210
• Household income: $42,185
• Rent vs Own: 60.3% rent · 39.7% own
• Severe rent burden: 1913.0

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 0.65)
• Race & ethnicity: Black 52% Hispanic / Latino 21% White 17% Two or more races 15% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Ukrainian 3% Lithuanian 0%
• Foreign-born: 14% · Canada, Philippines
• Languages at home: 75% English-only · Spanish 16% Other Asian/Pacific 3% French/Haitian/Cajun 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: ▲ 13.82%
• Current HPI: 358.7174
• Rent YoY: ▲ 3.22%
• 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

+0.0% since first listed

3 events — show timeline

• 2026-06-10 Sold (MLS) $220,000 GPRMLS
• 2026-05-18 Pending — GPRMLS
• 2026-05-07 Listed $220,000 GPRMLS

Property tax history

+12.6%/yr

Latest (2025): $1,174 · +1.9% YoY. Source: county tax records.