2333 Olive St · Bellevue, NE 68147

$199,000

3 bd · 1.0 ba · 1,584 sqft · SingleFamily public records · 7 Days on market

Built 1961 9,540 sqft lot Est $239k · 17% under ↓ 10% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +14.8/30.0
• DSCR +4.5/10.0
• Livability +4.4/5.0
• 1% rule +4.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Full Ranch w \ 4th bdrm. or office or play room w \ egress window, 1 \ 2 Bath and future shower rough-in Plus Rec Room in basement. Main level: Main level Carpets installed in 2015 & 2016 Vinyl floors installed 2016 in Kitchen, Bath & entryway. Single garage attached w \ opener & remote

Key facts

• Rec room in basement
• 9,540 sq ft lot
• Garage

Tags

• REC ROOM IN BASEMENT
• CARPETS INSTALLED IN 2015
• VINYL FLOORS INSTALLED 2016
• SINGLE GARAGE ATTACHED

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $54 ($643/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $183k (8.0% below list).
• Recommended offer: $183k (8.0% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 3.3% in Bellevue — 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 88/100 on livability (#1 in NE, #206 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, cost of living A+; Watch: commute D+.
• 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: Chandler View Elementary School (math 17% / reading 27%, grade F, #459 of 502 statewide, top 93%, 450 students, 0% FRL); Bryan Middle School (math 11% / reading 25%, grade F, #123 of 128 statewide, top 96%, 866 students, 0% FRL); South High School (math 11% / reading 13%, grade F, #254 of 261 statewide, top 98%, 2,686 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: 65 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 1,612 units permitted in Sarpy County in 2024 (364 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 $6k of value loss. Plan a longer hold.
• Sarpy County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts; this cycle's ask has dropped $16k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $183,168 (8.0% below list)

Questions for the listing agent

1. Built in 1961 — 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. 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?
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: 0.92% ✗
• Cap rate: 6.62%
• Cash-on-cash: 1.15%
• DSCR: 1.05
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $239,184
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2519 Olive St	0.18mi	3/1.0	1,604 (+1%)	2mo	$250,000	$156	88
7514 Chandler Hills Dr	0.10mi	3/2.0	1,500 (-5%)	2mo	$250,000	$167	80
7304 S 26 St	0.24mi	3/1.0	1,642 (+4%)	8mo	$258,500	$157	76
7213 Sarpy Ave	0.29mi	2/1.0 (-1)	1,572 (-1%)	10mo	$227,000	$144	72
2211 Gertrude St	0.22mi	3/2.0	1,521 (-4%)	12mo	$235,000	$155	69
2701 Margo St	0.41mi	2/2.0 (-1)	1,514 (-4%)	2mo	$215,002	$142	63
2402 Emiline St	0.29mi	3/2.0	1,424 (-10%)	7mo	$215,000	$151	60
2831 Lillian St	0.58mi	4/2.5 (+1)	1,676 (+6%)	8mo	$199,500	$119	46
2805 Lillian St	0.52mi	2/1.5 (-1)	1,351 (-15%)	2mo	$170,000	$126	42
1313 Harrison St	0.69mi	2/2.0 (-1)	1,511 (-5%)	12mo	$205,000	$136	42
2812 Irene St	0.70mi	4/2.0 (+1)	1,478 (-7%)	10mo	$235,000	$159	39
7733 S 30 St	0.65mi	2/2.0 (-1)	1,475 (-7%)	15mo	$207,500	$141	37

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -14.4%
• Equity multiple: 0.48×
• Total profit: $-28,793
• Equity at exit: $29,672

10-year hold

• IRR: -5.7%
• Equity multiple: 0.63×
• Total profit: $-20,517
• Equity at exit: $17,206

Cash invested: $55,720 (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 68147

• Home prices YoY: -28.4%
• Active inventory: 65
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,832 medium
• Mortgage (P&I): −$1,044
• Tax from tax record: −$267 /mo · $3,203/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$385
• Net cashflow: $54

Break-even live

Break-even rent $1,764

Max offer price $199,000

Occupancy floor 92%

Sensitivity live

Price	-10% $166	-5% $110	+0% $54	+5% $-3	+10% $-59
Rent	-10% $-91	-5% $-19	+0% $54	+5% $126	+10% $198
Rate	-1.0pp $154	-0.5pp $104	base $54	+0.5pp $2	+1.0pp $-50

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5441 S 22nd St Omaha, NE	4.0	3.0	2000	$1,950	$0.97	4d	1	1.06mi
8903 Florence Dr Bellevue, NE	3.0	3.0	1464	$2,100	$1.43	3d	1	1.14mi
3352 T St Omaha, NE	4.0	1.0	1150	$1,400	$1.22	5d	1	1.40mi
7318 S 41st St Bellevue, NE	2.0	1.0	1065	$1,650	$1.55	25d	1	1.48mi

Listing history 8 events

1. 2026-03-24
   soldstatus $192,818
2. 2026-03-09
   status Pending
3. 2026-03-02
   price $199,000
4. 2026-03-02
   historical
5. 2026-03-01
   listed $214,500 New
6. 2026-01-26
   status Back On Market
7. 2026-01-26
   status Pending
8. 2025-11-02
   listed $214,500 New

ⓘ 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: $3,203 · $267/mo
• Projected year-2 tax: $3,443 · $287/mo
• Expected delta: +$240/yr (+$20/mo · 7.5%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°F today · 15 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: $21,980
• − Mortgage interest: −$11,147
• − Property taxes: −$3,203
• − Insurance: −$995
• − Repairs & maintenance: −$1,758
• − Management: −$1,758
• − Depreciation: −$5,789
• Taxable loss: −$2,671
• Est. tax savings @ 24.0%: +$641
• After-tax cash flow: $1,284/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 — Bellevue

• Score: 88/100
• State rank: #1
• US rank: #206

Category grades

Amenities A+ Commute D+ Cost of living A+ Crime A+ Employment B+ Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bellevue, NE
• City population: 55,788
• Population (ZIP): 12,738

Population outlook (Sarpy County) Hauer SSP2

• Today (2025): 211,769 people
• By 2030: 229,365 · +8.3%
• By 2040: 264,122 · +24.7%
• By 2050: 298,087 · +40.8%
• By 2075: 381,667 · +80.2%
• By 2100: 448,180 · +111.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 56% Hispanic / Latino 35% Two or more races 13% Black 3% Native American 1% Asian 1%
• Hispanic origin (detail): Mexican 26%
• Common ancestry: Romanian 9% Portuguese 2% Lithuanian 2%
• Foreign-born: 13% · Canada, South Korea
• Languages at home: 75% English-only · Spanish 23% German/W. Germanic 1% Tagalog/Filipino 1%

Political lean MEDSL · Sarpy

• 2024 margin: R (+11.7) · D 43.5% · R 55.2% · Other 1.3%
• 2008→2024 swing: +4.2pp toward D · 2008: -15.9pp · 2024: -11.7pp
• All cycles: 2024: R+11.7 2020: R+11.2 2016: R+21.8 2012: R+23.6 2008: R+15.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -99.85%
• Current HPI: 252.1808
• 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

-10.1% since first listed

8 events — show timeline

• 2026-03-24 Sold (Public Records) $192,818 Public Records
• 2026-03-09 Pending — GPRMLS
• 2026-03-02 Price Changed $199,000 GPRMLS
• 2026-03-02 Listing Removed — GPRMLS
• 2026-03-01 Listed $214,500 GPRMLS
• 2026-01-26 Relisted — GPRMLS
• 2026-01-26 Pending — GPRMLS
• 2025-11-02 Listed $214,500 GPRMLS

Property tax history

+4.8%/yr

Latest (2025): $3,203 · +7.8% YoY. Source: county tax records.