6860 N 31st Ave · Omaha, NE 68112

$145,000

2 bd · 2.0 ba · 1,616 sqft · SingleFamily public records · 19 Days on market

Built 1946 5,227 sqft lot $90/sqft · 24% below area Est $190k · 24% under

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Why this score? — see what drove the C 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 +20.5/30.0
• ARV discount +15.0/15.0
• DSCR +6.5/10.0
• 1% rule +5.5/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Home in poor condition. Needs some "fixin". Plently of positives. Newer roof, vinyl siding, great lot etc. Priced to sell quickly. Has potential & would cash flow well. This was pending buy buyer go cold feel. All Investors & Agents please submit new offers.

Key facts

• 5,227 sq ft lot
• Built 1946
• Listed 19 days

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property; Built in 1946; One-story entry with main floor living spaces; Not new / not a model home
• Construction: Block foundation
• Exterior features: Deck; Lot up to 1/4 acre (approx. 47 x 120)

Interior

• Bedrooms: Primary bedroom on the main floor; Additional bedrooms on the main floor
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Electric forced-air heating; Central air conditioning
• Interior features: Partially finished full basement; No fireplaces

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $191 ($2k/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: $143k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.9% 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: Minne Lusa Elementary School (math 8% / reading 8%, grade F, #496 of 502 statewide, top 99%, 328 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: 57 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 4,539 units permitted in Douglas County in 2024 (2,583 in 5+ unit buildings).
• This rent runs 33% of the median local income ($56k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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 19 days — a 2% lower offer ($143k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 19y 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.
• Current owner paid $15k; list at $145k implies a 857% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $142,825 (1.5% below list)

Questions for the listing agent

1. Built in 1946 — 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. 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?
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: 1.05% ✓
• Cap rate: 7.87%
• Cash-on-cash: 5.65%
• DSCR: 1.25
• GRM: 7.9

CMA / ARV

• ARV (median comp): $190,157
• List price: $145,000
• Delta: -23.75%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3702 Summit St	0.50mi	3/2.0 (+1)	1,621 (+0%)	1mo	$189,900	$117	70
3442 Martin Ave	0.28mi	3/1.5 (+1)	1,510 (-7%)	2mo	$179,900	$119	67
3454 Martin Ave	0.29mi	3/2.0 (+1)	1,504 (-7%)	5mo	$203,000	$135	66
2442 Mary St	0.57mi	3/2.0 (+1)	1,618 (+0%)	4mo	$125,000	$77	65
2881 Vane St	0.24mi	3/2.0 (+1)	1,400 (-13%)	4mo	$170,000	$121	58
2874 Ida St	0.23mi	3/1.0 (+1)	1,387 (-14%)	0mo	$107,000	$77	56
7524 N 34th St	0.54mi	3/1.5 (+1)	1,710 (+6%)	3mo	$175,000	$102	56
6520 N 33 St	0.23mi	3/1.0 (+1)	1,404 (-13%)	4mo	$150,000	$107	55
2452 Mary St	0.55mi	3/2.0 (+1)	1,776 (+10%)	0mo	$226,000	$127	53
2565 Newport Ave	0.52mi	3/1.5 (+1)	1,494 (-8%)	5mo	$235,000	$157	52
7531 N 34th St	0.57mi	3/1.0 (+1)	1,475 (-9%)	2mo	$150,000	$102	48
3927 Read St	0.61mi	3/2.0 (+1)	1,797 (+11%)	5mo	$215,000	$120	43

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: -7.5%
• Equity multiple: 0.72×
• Total profit: $-11,299
• Equity at exit: $21,620

10-year hold

• IRR: 2.1%
• Equity multiple: 1.15×
• Total profit: $5,945
• Equity at exit: $12,537

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 68112

• Home prices YoY: -29.4%
• Active inventory: 57
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,521 high
• Mortgage (P&I): −$760
• Tax from tax record: −$190 /mo · $2,279/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$319
• Net cashflow: $191

Break-even live

Break-even rent $1,279

Max offer price $145,000

Occupancy floor 82%

Sensitivity live

Price	-10% $273	-5% $232	+0% $191	+5% $150	+10% $109
Rent	-10% $71	-5% $131	+0% $191	+5% $251	+10% $311
Rate	-1.0pp $264	-0.5pp $228	base $191	+0.5pp $153	+1.0pp $115

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 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3030 Ernst St Omaha, NE	3.0	2.0	1500	$1,500	$1.00	3d	1	0.28mi
2723 Newport Ave Omaha, NE	2.0	1.0	1079	$1,450	$1.34	2d	1	0.40mi
3501 Weber Cir Omaha, NE	3.0	2.0	1600	$1,700	$1.06	11d	1	0.43mi
6124 N 30th St Unit STREET2 Omaha, NE	2.0	1.0	1190	$1,075	$0.90	44d	1	0.44mi
2873 Kansas Ave Omaha, NE	3.0	2.0	1112	$1,450	$1.30	24d	1	0.56mi
3901 Curtis Ave Omaha, NE	2.0	2.5	1745	$1,850	$1.06	3d	1	0.69mi
2436 Laurel Ave Omaha, NE	3.0	1.0	1582	$1,495	$0.95	24d	1	0.84mi
4655 Curtis Ave Omaha, NE	3.0	2.0	2000	$1,900	$0.95	44d	1	1.25mi
4707 N 40th Ave Omaha, NE	3.0	1.0	1337	$1,500	$1.12	22d	1	1.49mi

Listing history 10 events

1. 2026-04-30
   listed $145,000 New 381-char remark
2. 2011-04-29
   soldstatus $15,150 278-char remark

   Show marketing remark (278 chars)

   Home in poor condition. Needs some "fixin". Plently of positives. Newer roof, vinyl siding, great lot etc. Priced to sell quickly. Has potential & would cash flow well. This was pending buy buyer go cold feel. All Investors & Agents please submit new offers.

3. 2011-04-20
   historical 278-char remark

   Show marketing remark (278 chars)

   Home in poor condition. Needs some "fixin". Plently of positives. Newer roof, vinyl siding, great lot etc. Priced to sell quickly. Has potential & would cash flow well. This was pending buy buyer go cold feel. All Investors & Agents please submit new offers.

4. 2011-03-30
   listed $13,900 278-char remark

   Show marketing remark (278 chars)

   Home in poor condition. Needs some "fixin". Plently of positives. Newer roof, vinyl siding, great lot etc. Priced to sell quickly. Has potential & would cash flow well. This was pending buy buyer go cold feel. All Investors & Agents please submit new offers.

5. 2010-12-01
   historical
6. 2010-10-01
   listed $90,000
7. 2007-06-21
   soldstatus $109,000
8. 2007-06-18
   soldstatus $109,109
9. 2007-01-23
   listed $109,500
10. 2002-08-30
    soldstatus $57,000

ⓘ 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: $2,279 · $190/mo
• Projected year-2 tax: $2,508 · $209/mo
• Expected delta: +$229/yr (+$19/mo · 10.1%)

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°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: $18,255
• − Mortgage interest: −$8,122
• − Property taxes: −$2,279
• − Insurance: −$725
• − Repairs & maintenance: −$1,460
• − Management: −$1,460
• − Depreciation: −$4,218
• Taxable loss: −$10
• Est. tax savings @ 24.0%: +$2
• After-tax cash flow: $2,295/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): 12,071
• Household income: $56,159
• Rent vs Own: 24.9% rent · 75.1% own
• Severe rent burden: 385.0

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 0.59)
• Race & ethnicity: White 59% Black 23% Two or more races 11% Hispanic / Latino 11%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Romanian 5% Lithuanian 2% Portuguese 2%
• Foreign-born: 5% · Canada
• Languages at home: 89% English-only · Spanish 9% Other Asian/Pacific 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: ▼ -105.85%
• Current HPI: 254.385
• Rent YoY: —
• 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

+154.4% since first listed

11 events — show timeline

• 2026-05-19 Pending — GPRMLS
• 2026-04-30 Listed $145,000 GPRMLS
• 2011-04-29 Sold (MLS) $15,150 GPRMLS
• 2011-04-20 Listing Removed — GPRMLS
• 2011-03-30 Listed $13,900 GPRMLS
• 2010-12-01 Listing Removed — GPRMLS
• 2010-10-01 Listed $90,000 GPRMLS
• 2007-06-21 Sold (Public Records) $109,000 Public Records
• 2007-06-18 Sold (MLS) $109,109 GPRMLS
• 2007-01-23 Listed $109,500 GPRMLS
• 2002-08-30 Sold (Public Records) $57,000 Public Records

Property tax history

+7.4%/yr

Latest (2025): $2,279 · +0.7% YoY. Source: county tax records.