3338 Manderson St · Omaha, NE 68111

$145,000

3 bd · 2.0 ba · 1,334 sqft · Other public records · 40 Days on market

Built 1890 6,098 sqft lot $109/sqft · 13% below area Est $167k · 13% under

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Why this score? — see what drove the B 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 +23.5/30.0
• ARV discount +13.5/15.0
• Appreciation +10.0/10.0
• DSCR +7.6/10.0
• 1% rule +5.8/10.0
• Livability +4.2/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0

Listing remarks MLS

A classic yet charming starter home which has been fully updated. Beautiful designer style eat-in kitchen with lots of storage space. Cozy and bright living room. Master ensuite with sitting area on second floor with a view of downtown, perfect as a relaxing retreat. Remodeled bathrooms. The basement has a ton of stoarage space and potential to be finished as a family room. Exterior updates include front porch, deck, driveway, patio with pergola and maintenance free cement siding. Convenient to downtown, midtown, and airport. HMS Warranty available.

Key facts

• Covered deck
• Private bath
• 6,098 sq ft lot

Tags

• FULLY FENCED BACKYARD
• COVERED DECK
• SPACIOUS LIVING AREAS
• PRIVATE BATH

Property features AI

Finance

• Other: Living area reported as 1,338 square feet; Below-grade finished area: 0; Lot about 0.14 acre (approx. 128 x 50); Lot up to 1/4 acre

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one half levels; Not new (existing home)
• Construction: Built in 1890; Block foundation
• Exterior features: Porch, Patio, Deck

Interior

• Kitchen: Kitchen located on the main floor; Includes Range, Refrigerator, Microwave
• Bedrooms: Master bedroom on 2nd floor; Additional bedrooms on main floor
• Bathrooms: Two full bathrooms; One bathroom on the main floor; Full master bathroom
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Range, Refrigerator, Microwave

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $145k.

Deal economics

• At list price, monthly cash flow is $271 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $141k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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); 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; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 4,539 units permitted in Douglas County in 2024 (2,583 in 5+ unit buildings).
• This rent runs 45% 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 $16k of equity ($1k loan paydown + $14k appreciation (10.0% local appreciation)).
• Douglas County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.2% rent growth), your $41k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 17y 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: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $140,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — 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. 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.
6. 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.
7. 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: 1.08% ✓
• Cap rate: 8.54%
• Cash-on-cash: 8.01%
• DSCR: 1.36
• GRM: 7.7

CMA / ARV

• ARV (median comp): $167,492
• List price: $145,000
• Delta: -13.43%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 30.2%
• Equity multiple: 3.38×
• Total profit: $96,586
• Equity at exit: $130,627

10-year hold

• IRR: 26.2%
• Equity multiple: 7.69×
• Total profit: $271,569
• Equity at exit: $281,703

Cash invested: $40,600 (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: 7.7×

Monthly cashflow live

• Estimated rent: $1,567 high
• Mortgage (P&I): −$760
• Tax from tax record: −$146 /mo · $1,751/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$329
• Net cashflow: $271

Break-even live

Break-even rent $1,224

Max offer price $145,000

Occupancy floor 78%

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3323 N 40th St Omaha, NE	2.0	1.0	1000	$1,575	$1.57	3d	1	0.53mi
3502 Lake St Omaha, NE	2.0	1.0	974	$995	$1.02	2d	1	0.78mi
4707 N 40th Ave Omaha, NE	3.0	1.0	1337	$1,500	$1.12	21d	1	0.80mi
4276 Binney St Omaha, NE	4.0	1.0	1358	$1,495	$1.10	43d	1	0.94mi
3535 N 45th Ave Omaha, NE	3.0	1.0	1325	$1,800	$1.36	43d	1	0.97mi
4201 N 22nd St Omaha, NE	3.0	1.0	1380	$1,545	$1.12	43d	1	1.01mi
3708 Florence Blvd Omaha, NE	3.0	1.0	1102	$1,395	$1.27	21d	1	1.11mi
3508 N 47th Ave Omaha, NE	3.0	1.0	1425	$1,600	$1.12	19d	1	1.14mi
3808 N 48th St Omaha, NE	3.0	2.0	1400	$2,000	$1.43	3d	1	1.19mi
4125 N 19th St Omaha, NE	3.0	1.0	1266	$1,532	$1.21	43d	1	1.19mi
3314 Franklin St Omaha, NE	4.0	2.0	1635	$1,600	$0.98	43d	1	1.25mi
5348 N 25th St Omaha, NE	4.0	1.0	1446	$1,600	$1.11	43d	1	1.30mi
3430 Seward St Omaha, NE	3.0	1.0	1371	$1,695	$1.24	14d	1	1.32mi
4852 Boyd St Omaha, NE	2.0	2.0	912	$1,500	$1.64	43d	1	1.33mi
3002 N 48th Ave Omaha, NE	4.0	2.0	1205	$1,550	$1.29	23d	1	1.34mi
1820 Miami St Omaha, NE	4.0	1.5	1306	$1,050	$0.80	43d	1	1.35mi
4874 Maple St Omaha, NE	3.0	1.0	1098	$1,545	$1.41	43d	1	1.39mi
4918 Ames Ave Unit 17 Omaha, NE	2.0	1.5	1074	$850	$0.79	23d	1	1.40mi
4657 Camden Ave Omaha, NE	3.0	1.0	1250	$1,500	$1.20	43d	1	1.45mi
1407 N 31st St Omaha, NE	2.0	1.0	1040	$1,395	$1.34	3d	1	1.45mi
2914 N 49th Ave Omaha, NE	3.0	1.0	1375	$1,615	$1.17	23d	1	1.46mi
2873 Kansas Ave Omaha, NE	3.0	2.0	1112	$1,450	$1.30	23d	1	1.49mi

Listing history 26 events

1. 2026-06-16
   statusdays on market $145,000 Pending 40 DOM
2. 2026-06-15
   days on market $145,000 Active 39 DOM
3. 2026-06-13
   days on market $145,000 Active 37 DOM
4. 2026-06-10
   days on market $145,000 Active 34 DOM
5. 2026-06-09
   days on market $145,000 Active 33 DOM
6. 2026-06-08
   days on market $145,000 Active 32 DOM
7. 2026-06-07
   days on market $145,000 Active 31 DOM
8. 2026-06-03
   days on market $145,000 Active 27 DOM
9. 2026-06-03
   days on market $145,000 Active 26 DOM
10. 2026-06-01
    days on market $145,000 Active 25 DOM
11. 2026-06-01
    days on market $145,000 Active 24 DOM
12. 2026-05-07
    listed $145,000 New 450-char remark
13. 2022-01-24
    soldstatus $135,000
14. 2019-09-13
    soldstatus $118,000
15. 2019-09-06
    soldstatus $117,500 Sold 555-char remark

    Show marketing remark (555 chars)

    A classic yet charming starter home which has been fully updated. Beautiful designer style eat-in kitchen with lots of storage space. Cozy and bright living room. Master ensuite with sitting area on second floor with a view of downtown, perfect as a relaxing retreat. Remodeled bathrooms. The basement has a ton of stoarage space and potential to be finished as a family room. Exterior updates include front porch, deck, driveway, patio with pergola and maintenance free cement siding. Convenient to downtown, midtown, and airport. HMS Warranty available.

16. 2019-08-02
    status Pending 555-char remark

    Show marketing remark (555 chars)

    A classic yet charming starter home which has been fully updated. Beautiful designer style eat-in kitchen with lots of storage space. Cozy and bright living room. Master ensuite with sitting area on second floor with a view of downtown, perfect as a relaxing retreat. Remodeled bathrooms. The basement has a ton of stoarage space and potential to be finished as a family room. Exterior updates include front porch, deck, driveway, patio with pergola and maintenance free cement siding. Convenient to downtown, midtown, and airport. HMS Warranty available.

17. 2019-07-03
    listed $110,000 Active - New 555-char remark

    Show marketing remark (555 chars)

    A classic yet charming starter home which has been fully updated. Beautiful designer style eat-in kitchen with lots of storage space. Cozy and bright living room. Master ensuite with sitting area on second floor with a view of downtown, perfect as a relaxing retreat. Remodeled bathrooms. The basement has a ton of stoarage space and potential to be finished as a family room. Exterior updates include front porch, deck, driveway, patio with pergola and maintenance free cement siding. Convenient to downtown, midtown, and airport. HMS Warranty available.

18. 2017-12-06
    soldstatus $90,000
19. 2017-11-22
    soldstatus $90,000 Sold

    Show marketing remark (464 chars)

    Completely remodeled 1,366sf home with open concept, designer style, eat-in kitchen and living area. 2 beds and 1 bath on first floor. Master ensuite, with sitting area on second floor and new bathroom, loads of closets. Updated front porch and deck. New cement siding and paint. New driveway and sidewalk. Roof, 1 year old. Downtown and Loess hills views. It’s a charmer. Call for an appointment, 9/12/17. Please give the seller 24 hour notice for showings.

20. 2017-09-18
    status Pending

    Show marketing remark (464 chars)

    Completely remodeled 1,366sf home with open concept, designer style, eat-in kitchen and living area. 2 beds and 1 bath on first floor. Master ensuite, with sitting area on second floor and new bathroom, loads of closets. Updated front porch and deck. New cement siding and paint. New driveway and sidewalk. Roof, 1 year old. Downtown and Loess hills views. It’s a charmer. Call for an appointment, 9/12/17. Please give the seller 24 hour notice for showings.

21. 2017-09-06
    listed $90,000 Active - New

    Show marketing remark (464 chars)

    Completely remodeled 1,366sf home with open concept, designer style, eat-in kitchen and living area. 2 beds and 1 bath on first floor. Master ensuite, with sitting area on second floor and new bathroom, loads of closets. Updated front porch and deck. New cement siding and paint. New driveway and sidewalk. Roof, 1 year old. Downtown and Loess hills views. It’s a charmer. Call for an appointment, 9/12/17. Please give the seller 24 hour notice for showings.

22. 2014-01-23
    historical
23. 2013-09-18
    listed $10,800
24. 2009-12-10
    historical
25. 2009-11-18
    listed $14,900
26. 1994-05-02
    soldstatus $13,000

ⓘ 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: $1,751 · $146/mo
• Projected year-2 tax: $2,508 · $209/mo
• Expected delta: +$758/yr (+$63/mo · 43.3%)

ⓘ 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 ≥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: $18,802
• − Mortgage interest: −$8,122
• − Property taxes: −$1,751
• − Insurance: −$725
• − Repairs & maintenance: −$1,504
• − Management: −$1,504
• − Depreciation: −$4,218
• Taxable income: $978
• Est. tax owed @ 24.0%: −$235
• After-tax cash flow: $3,019/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

+1015.4% since first listed

16 events — show timeline

• 2026-06-16 Pending — GPRMLS
• 2026-05-07 Listed $145,000 GPRMLS
• 2022-01-24 Sold (Public Records) $135,000 Public Records
• 2019-09-13 Sold (Public Records) $118,000 Public Records
• 2019-09-06 Sold (MLS) $117,500 GPRMLS
• 2019-08-02 Pending — GPRMLS
• 2019-07-03 Listed $110,000 GPRMLS
• 2017-12-06 Sold (Public Records) $90,000 Public Records
• 2017-11-22 Sold (MLS) $90,000 GPRMLS
• 2017-09-18 Pending — GPRMLS
• 2017-09-06 Listed $90,000 GPRMLS
• 2014-01-23 Listing Removed — GPRMLS
• 2013-09-18 Listed $10,800 GPRMLS
• 2009-12-10 Listing Removed — GPRMLS
• 2009-11-18 Listed $14,900 GPRMLS
• 1994-05-02 Sold (Public Records) $13,000 Public Records

Property tax history

+16.3%/yr

Latest (2025): $1,751 · -1.5% YoY. Source: county tax records.