6221 N 210 St · Omaha, NE 68022

$494,000

4 bd · 2.5 ba · 2,506 sqft · Other · 81 Days on market

Built 2025 0.27 ac lot $197/sqft · 31% below area Est $718k · 31% under $29/mo HOA · 1% of rent ↓ 3% 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 +6.9/30.0
• Schools +6.9/10.0
• Livability +4.2/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• DSCR +1.2/10.0
• 1% rule +0.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to the Ellison floor plan, built by The Home Company in the desirable Arcadia Ridge community! This awesome home boasts 4 spacious bedrooms, 3 bathrooms, along with a generous 3 1/2 car garage and over 2,500 square feet of finished living space. Kitchen features quartz countertops, a gas range with an exhaust hood, a stylish 3 x 12 backsplash, a walk-in pantry, and an oversized island perfect for entertaining. The airy living room is illuminated by picture windows and showcases a charming farmhouse fireplace with a half stone, mantle and shiplap accents. Spacious owner suite, complete with a tray box ceiling, a walk in closet, a walk-in shower and double sinks for added convenience. Move in Ready!

Key facts

• Quartz countertops
• Ellison floor plan
• Oversized island

Tags

• ELLISON FLOOR PLAN
• ARCADIA RIDGE COMMUNITY
• QUARTZ COUNTERTOPS
• GAS RANGE
• WALK-IN PANTRY
• OVERSIZED ISLAND

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath other listed at $494k.

Deal economics

• At list price, monthly cash flow is $-737 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $364k (26.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $275k (44.4% below list).
• Recommended offer: $275k (44.4% below list) — sets the bar for 1% rule.
• Cap rate 4.5% vs local median 3.6% in Omaha — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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.
• Elkhorn Public Schools (urban): math 77% / reading 76% proficiency, ranked #1 of 111 in NE (top 1%) — strong family-tenant draw, lease renewals of 3-5y typical; only 5% free/reduced lunch — higher-income household profile.
• Zoned schools: Skyline Elementary School (math 77% / reading 82%, grade A, #9 of 502 statewide, top 2%, 389 students, 6% FRL); Elkhorn Valley View Middle School (math 80% / reading 77%, grade A+, #1 of 128 statewide, top 0%, 604 students, 4% FRL); Elkhorn South High School (math 85% / reading 83%, grade A, #1 of 261 statewide, top 0%, 1,428 students, 5% FRL) — zoned schools at 5% FRL track the district average.
• Market conditions: Rents rising fast (+4.2%/yr); 794 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 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 $3k of loan paydown is wiped out by about $15k 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 81 days — a 6% lower offer ($464k) is reasonable based on typical stale-listing flexibility.

Recommended offer $274,905 (44.4% 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. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 44% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 0.56% ✗
• Cap rate: 4.50%
• Cash-on-cash: -6.40%
• DSCR: 0.72
• GRM: 15.0

CMA / ARV

• ARV (median comp): $717,755
• List price: $494,000
• Delta: -31.17%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.25% rent growth · sell at horizon

5-year hold

• IRR: -26.3%
• Equity multiple: 0.11×
• Total profit: $-123,788
• Equity at exit: $73,657

10-year hold

• IRR: -20.5%
• Equity multiple: -0.12×
• Total profit: $-154,631
• Equity at exit: $42,712

Cash invested: $138,320 (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 68022

• Home prices YoY: -33.9%
• Rents YoY: 4.2%
• Active inventory: 794
• Price-to-rent: 15.0×

Monthly cashflow live

• Estimated rent: $2,749 medium
• Mortgage (P&I): −$2,591
• Tax from tax record: −$84 /mo · $1,006/yr
• Insurance: −$206
• HOA: −$29
• Vacancy / Maint / Mgmt: −$577
• Net cashflow: $-737

Break-even live

Break-even rent $3,683

Max offer price $363,722

Occupancy floor —

Sensitivity live

Price	-10% $-458	-5% $-598	+0% $-737	+5% $-1,442	+10% $-1,613
Rent	-10% $-955	-5% $-846	+0% $-737	+5% $-629	+10% $-520
Rate	-1.0pp $-489	-0.5pp $-612	base $-737	+0.5pp $-865	+1.0pp $-996

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: $123,500
• Closing costs: $14,820
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1818 S 204th St Elkhorn, NE	1.0–4.0	1.0–2.5	1368	$3,450	$2.52	3d	1	1.43mi

HOA detail

• Monthly dues: $29 · $348/yr
• Likely covers: gas

Listing history 3 events

1. 2026-05-07
   status Pending 714-char remark

   Show marketing remark (714 chars)

   Welcome to the Ellison floor plan, built by The Home Company in the desirable Arcadia Ridge community! This awesome home boasts 4 spacious bedrooms, 3 bathrooms, along with a generous 3 1/2 car garage and over 2,500 square feet of finished living space. Kitchen features quartz countertops, a gas range with an exhaust hood, a stylish 3 x 12 backsplash, a walk-in pantry, and an oversized island perfect for entertaining. The airy living room is illuminated by picture windows and showcases a charming farmhouse fireplace with a half stone, mantle and shiplap accents. Spacious owner suite, complete with a tray box ceiling, a walk in closet, a walk-in shower and double sinks for added convenience. Move in Ready!

2. 2026-05-05
   price $494,000 714-char remark

   Show marketing remark (714 chars)

   Welcome to the Ellison floor plan, built by The Home Company in the desirable Arcadia Ridge community! This awesome home boasts 4 spacious bedrooms, 3 bathrooms, along with a generous 3 1/2 car garage and over 2,500 square feet of finished living space. Kitchen features quartz countertops, a gas range with an exhaust hood, a stylish 3 x 12 backsplash, a walk-in pantry, and an oversized island perfect for entertaining. The airy living room is illuminated by picture windows and showcases a charming farmhouse fireplace with a half stone, mantle and shiplap accents. Spacious owner suite, complete with a tray box ceiling, a walk in closet, a walk-in shower and double sinks for added convenience. Move in Ready!

3. 2026-02-15
   listed $510,000 New 714-char remark

   Show marketing remark (714 chars)

   Welcome to the Ellison floor plan, built by The Home Company in the desirable Arcadia Ridge community! This awesome home boasts 4 spacious bedrooms, 3 bathrooms, along with a generous 3 1/2 car garage and over 2,500 square feet of finished living space. Kitchen features quartz countertops, a gas range with an exhaust hood, a stylish 3 x 12 backsplash, a walk-in pantry, and an oversized island perfect for entertaining. The airy living room is illuminated by picture windows and showcases a charming farmhouse fireplace with a half stone, mantle and shiplap accents. Spacious owner suite, complete with a tray box ceiling, a walk in closet, a walk-in shower and double sinks for added convenience. Move in Ready!

ⓘ 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: $1,006 · $84/mo
• Projected year-2 tax: $8,546 · $712/mo
• Expected delta: +$7,541/yr (+$628/mo · 749.8%)

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

Taxation est. · year 1

• Rental income: $32,989
• − Mortgage interest: −$27,672
• − Property taxes: −$1,006
• − Insurance: −$2,470
• − Repairs & maintenance: −$2,639
• − Management: −$2,639
• − HOA: −$348
• − Depreciation: −$14,371
• Taxable loss: −$18,156
• Est. tax savings @ 24.0%: +$4,357
• After-tax cash flow: $-4,492/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: Elkhorn Public Schools
• NCES district ID: 3170110
• Math proficiency: 77% ▼ -7.00%
• Reading proficiency: 76% ▼ -6.00%
• Median HH income: $96,478
• Composite: 69.21/100
• National rank: #318
• State rank: #1 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

• County: Douglas County · 538,646 people
• City population: 552,986
• Metro: Omaha-Council Bluffs, NE-IA
• Population (ZIP): 36,538
• Household income: $148,111
• Rent vs Own: 26.0% rent · 74.0% own
• Severe rent burden: 651.0

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 (87%)
• Race & ethnicity: White 87% Two or more races 6% Asian 4% Hispanic / Latino 4% Black 1%
• Common ancestry: Portuguese 3% Romanian 3% Iranian 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 94% English-only · Other Indo-European 1% Other Asian/Pacific 1% Spanish 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: ▼ -102.67%
• Current HPI: 200.1245
• Rent YoY: ▲ 4.25%
• 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

-3.1% since first listed

3 events — show timeline

• 2026-05-07 Pending — GPRMLS
• 2026-05-05 Price Changed $494,000 GPRMLS
• 2026-02-15 Listed $510,000 GPRMLS