12025 Pierce Plz #324 · Omaha, NE 68144

$160,000

3 bd · 2.0 ba · 1,268 sqft · Condo public records · 18 Days on market

Built 1966 $389/mo HOA · 23% 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).

• Cash flow +8.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.7/10.0
• Livability +4.2/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• DSCR +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this beautifully maintained 3-bedroom, 2-bath condo designed for easy, low-maintenance living! Featuring stylish LVP flooring, newer carpet, and a clean, well-kept interior, this home is truly move-in ready. Enjoy summer days at the community pool while leaving the maintenance to someone else. The HOA covers pool access and maintenance, exterior insurance and exterior maintenance, lawn care, snow removal, water, and garbage service—making homeownership simple and stress-free. All appliances stay, along with the security camera system. Don't miss this opportunity to enjoy convenient living with fantastic amenities. AMA.

Key facts

• Security cameras
• Community pool
• $389 HOA

Tags

• COMMUNITY POOL
• SECURITY CAMERAS
• ALL APPLIANCES STAYING

Property features AI

Finance

• HOA & community: Has association (Boardwalk Condominium); Monthly association fee of $389.10; Association covers: exterior maintenance, grounds maintenance, common area maintenance, water, trash, snow removal, pool access and pool maintenance, and management

Exterior

• Parking: No garage
• Security: Security system
• Utilities: Electricity available; Public water; Public sewer
• Home design: Residential condominium; Attached property; Flat roof; Built in 1966; Single-level living (all main-floor rooms listed)
• Construction: Brick construction; Block foundation
• Exterior features: Deck; City lot

Interior

• Kitchen: Range; Refrigerator; Dishwasher; Microwave; Garbage disposal
• Bedrooms: Primary bedroom on the main floor (approx. 11.05 x 14); Second bedroom on the main floor (approx. 9.08 x 12); Third bedroom on the main floor (approx. 9.09 x 11.1)
• Flooring: Engineered wood; Luxury vinyl plank
• Bathrooms: Two bathrooms total: one full bath and one three-quarter master bath (both on the main floor)
• Heating & cooling: Electric forced air heating; Central air conditioning
• Interior features: No fireplace; Security system
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $160k.

Deal economics

• At list price, monthly cash flow is $-164 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $131k (18.1% below list).
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $131k (18.1% below list) — sets the bar for cash-flow.
• Cap rate 5.1% 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: Crestridge Magnet Center (math 32% / reading 47%, grade F, #346 of 502 statewide, top 74%, 384 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.
• Market conditions: Rents rising (+1.9%/yr); 112 active listings in the ZIP; 11 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 $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.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 20y 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.

Risks & watch-outs

• Watch-outs: HOA is 23% of rent.

Recommended offer $131,061 (18.1% 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 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.07% ✓
• Cap rate: 5.06%
• Cash-on-cash: -4.39%
• DSCR: 0.80
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.95% rent growth · sell at horizon

5-year hold

• IRR: -25.2%
• Equity multiple: 0.15×
• Total profit: $-37,872
• Equity at exit: $23,857

10-year hold

• IRR: -25.6%
• Equity multiple: -0.17×
• Total profit: $-52,471
• Equity at exit: $13,834

Cash invested: $44,800 (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 68144

• Rents YoY: 1.9%
• Active inventory: 112
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,710 high
• Mortgage (P&I): −$839
• Tax from tax record: −$220 /mo · $2,644/yr
• Insurance: −$67
• HOA: −$389
• Vacancy / Maint / Mgmt: −$359
• Net cashflow: $-164

Break-even live

Break-even rent $1,918

Max offer price $131,061

Occupancy floor —

Sensitivity live

Price	-10% $-73	-5% $-119	+0% $-164	+5% $-209	+10% $-254
Rent	-10% $-299	-5% $-231	+0% $-164	+5% $-96	+10% $-29
Rate	-1.0pp $-83	-0.5pp $-123	base $-164	+0.5pp $-205	+1.0pp $-247

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13110 Sterling Ridge Dr Omaha, NE	1.0–2.0	1.0–2.0	894	$4,048	$4.53	4d	21	0.82mi
11510 Farnam St Omaha, NE	3.0	2.5	1646	$2,250	$1.37	45d	1	0.83mi
11510 Farnam St Omaha, NE	3.0	2.5	1646	$2,250	$1.37	12d	1	0.83mi
11718 Arbor St Unit 2 Omaha, NE	2.0	2.0	1000	$1,200	$1.20	45d	1	0.84mi
11706 Arbor St Omaha, NE	2.0	2.0	1000	$1,200	$1.20	45d	1	0.85mi
11766 Wakeley Plz Omaha, NE	1.0–3.0	1.0–3.0	1380	$1,840	$1.33	4d	26	0.97mi
11611 Westwood Ln Omaha, NE	3.0	2.0	1760	$1,804	$1.02	4d	1	1.16mi
12500 W Dodge Rd Omaha, NE	1.0–3.0	1.0–2.0	1188	$3,330	$2.80	4d	25	1.17mi
13407 Montclair Dr Omaha, NE	1.0–2.0	1.0	865	$1,003	$1.16	4d	2	1.33mi
10506 Pacific St Omaha, NE	1.0–3.0	1.0–2.5	1295	$2,855	$2.20	4d	29	1.36mi
12418 Burt Plz Omaha, NE	1.0–2.0	1.0–2.0	919	$1,075	$1.17	4d	9	1.38mi

HOA detail condo

• Monthly dues: $389 · $4,668/yr
• Likely covers: watertrashlandscapingsnow removalexterior maint.poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 31 events

1. 2026-06-21
   days on market $160,000 Active 18 DOM
2. 2026-06-18
   days on market $160,000 Active 15 DOM
3. 2026-06-17
   days on market $160,000 Active 14 DOM
4. 2026-06-16
   days on market $160,000 Active 13 DOM
5. 2026-06-15
   days on market $160,000 Active 12 DOM
6. 2026-06-13
   days on market $160,000 Active 10 DOM
7. 2026-06-10
   days on market $160,000 Active 7 DOM
8. 2026-06-09
   days on market $160,000 Active 6 DOM
9. 2026-06-08
   statusdays on market $160,000 Active 5 DOM
10. 2026-06-07
    remarks 642-char remark
11. 2026-06-07
    days on market $160,000 New 4 DOM
12. 2026-06-03
    pricestatusdays on marketlisting id $160,000 New 1 DOM
13. 2026-06-03
    days on market $165,000 Active 33 DOM
14. 2026-06-01
    days on market $165,000 Active 32 DOM
15. 2026-06-01
    days on market $165,000 Active 31 DOM
16. 2026-04-30
    listed $165,000 New 378-char remark
17. 2026-04-30
    historical
18. 2026-03-23
    listed $167,000 New
19. 2024-10-18
    soldstatus $157,000 Sold
20. 2024-09-24
    status Pending
21. 2024-09-19
    listed $165,000 New
22. 2013-05-28
    soldstatus $70,000
23. 2013-05-24
    soldstatus $70,000
24. 2013-04-03
    historical
25. 2013-01-09
    listed $69,900
26. 2012-12-31
    historical
27. 2012-06-26
    listed $69,900
28. 2009-03-06
    historical
29. 2008-09-27
    listed $79,500
30. 2006-09-20
    historical
31. 2006-04-20
    listed $81,500

ⓘ 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: $2,644 · $220/mo
• Projected year-2 tax: $2,768 · $231/mo
• Expected delta: +$124/yr (+$10/mo · 4.7%)

ⓘ 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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,525
• − Mortgage interest: −$8,962
• − Property taxes: −$2,644
• − Insurance: −$800
• − Repairs & maintenance: −$1,642
• − Management: −$1,642
• − HOA: −$4,668
• − Depreciation: −$4,655
• Taxable loss: −$4,488
• Est. tax savings @ 24.0%: +$1,077
• After-tax cash flow: $-889/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): 25,732
• Household income: $83,576
• Rent vs Own: 33.3% rent · 66.7% own
• Severe rent burden: 1113.0

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 (84%)
• Race & ethnicity: White 84% Hispanic / Latino 7% Two or more races 6% Black 3% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 4% Slovak 4% Portuguese 2%
• Foreign-born: 5% · Canada, United Kingdom, South Korea
• Languages at home: 92% English-only · Spanish 3% Arabic 1% Other Indo-European 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: ▼ -228.19%
• Current HPI: 249.064
• Rent YoY: ▲ 1.95%
• 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

+96.3% since first listed

18 events — show timeline

• 2026-06-03 Listing Removed — GPRMLS
• 2026-06-03 Listed $160,000 GPRMLS
• 2026-04-30 Listing Removed — GPRMLS
• 2026-04-30 Listed $165,000 GPRMLS
• 2026-03-23 Listed $167,000 GPRMLS
• 2024-10-18 Sold (MLS) $157,000 GPRMLS
• 2024-09-24 Pending — GPRMLS
• 2024-09-19 Listed $165,000 GPRMLS
• 2013-05-28 Sold (Public Records) $70,000 Public Records
• 2013-05-24 Sold (MLS) $70,000 GPRMLS
• 2013-04-03 Listing Removed — GPRMLS
• 2013-01-09 Listed $69,900 GPRMLS
• 2012-12-31 Listing Removed — GPRMLS
• 2012-06-26 Listed $69,900 GPRMLS
• 2009-03-06 Listing Removed — GPRMLS
• 2008-09-27 Listed $79,500 GPRMLS
• 2006-09-20 Listing Removed — GPRMLS
• 2006-04-20 Listed $81,500 GPRMLS

Property tax history

+5.8%/yr

Latest (2025): $2,644 · -3.5% YoY. Source: county tax records.