7132 Burlington Ave · Lincoln, NE 68507

$180,000

4 bd · 1.0 ba · 1,368 sqft · SingleFamily public records · 22 Days on market

Built 1900 6,970 sqft lot $132/sqft · 23% below area Est $233k · 23% 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 +23.0/30.0
• ARV discount +15.0/15.0
• DSCR +7.4/10.0
• 1% rule +5.6/10.0
• Schools +4.4/10.0
• Livability +4.2/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity at 7131 Burlington Ave with this 4+ bedroom home featuring a layout that maximizes bedroom count and flexible use of interior space. Ideal for those seeking multiple private rooms for various uses including workspace, hobbies, storage, or sleeping areas. The traditional 1900's home includes a kitchen area, mudroom/covered back porch, creating a practical flow from outdoor to indoor spaces. A large yard adds to the appeal, offering room for outdoor enjoyment, future improvements, or expansion possibilities. An additional storage shed provides convenient space for tools, equipment, or seasonal items. Recent updates include, flooring, paint, trim, refreshed kitchen cabinets and front landscaping. With its room count, lot size, and functional features, this home offers strong potential for those seeking a unique property with opportunity & flexibility.

Key facts

• Large yard
• Front landscaping
• 6,970 sq ft lot

Tags

• FLEXIBLE USE OF INTERIOR SPACE
• MUDROOM COVERED BACK PORCH
• LARGE YARD
• ADDITIONAL STORAGE SHED
• REFRESHED KITCHEN CABINETS
• FRONT LANDSCAPING

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $319 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $177k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 3.0% in Lincoln — 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 85/100 on livability (#5 in NE, #545 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: crime D+.
• Lincoln Public Schools (urban): math 50% / reading 53% proficiency, ranked #59 of 111 in NE (top 53%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+2.4%/yr); 100 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,940 units permitted in Lancaster County in 2024 (895 in 5+ unit buildings).
• This rent runs 33% of the median local income ($69k/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 $5k of value loss. Plan a longer hold.
• Lancaster County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $177,300 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — 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. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. Crime grade is D 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: 1.06% ✓
• Cap rate: 8.42%
• Cash-on-cash: 7.59%
• DSCR: 1.34
• GRM: 7.9

CMA / ARV

• ARV (median comp): $233,045
• List price: $180,000
• Delta: -22.76%
• 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
6525 Platte Ave	0.44mi	4/2.0	1,460 (+7%)	1mo	$255,500	$175	64
7131 Kearney Ave	0.43mi	3/2.0 (-1)	1,412 (+3%)	5mo	$235,000	$166	61
6627 Morrill Ave	0.48mi	3/1.0 (-1)	1,312 (-4%)	8mo	$218,000	$166	59
4301 N 66th St	0.46mi	3/1.0 (-1)	1,320 (-4%)	14mo	$162,000	$123	56
6720 Kearney Ave	0.52mi	3/2.0 (-1)	1,350 (-1%)	12mo	$225,000	$167	54
6616 Havelock Ave	0.40mi	3/1.0 (-1)	1,200 (-12%)	4mo	$148,000	$123	53
6870 Fremont St	0.74mi	3/2.0 (-1)	1,425 (+4%)	3mo	$245,000	$172	47
7110 Morton St	0.33mi	3/1.5 (-1)	1,520 (+11%)	16mo	$250,000	$164	46
7040 Seward Ave	0.48mi	3/2.0 (-1)	1,538 (+12%)	3mo	$240,000	$156	45
6861 Benton St	0.70mi	3/2.0 (-1)	1,475 (+8%)	1mo	$250,000	$169	44
6409 Logan Ave	0.65mi	3/2.0 (-1)	1,450 (+6%)	11mo	$212,000	$146	42
6320 Kearney Ave	0.72mi	3/2.0 (-1)	1,526 (+12%)	5mo	$205,000	$134	34

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 · 2.37% rent growth · sell at horizon

5-year hold

• IRR: -5.4%
• Equity multiple: 0.80×
• Total profit: $-10,059
• Equity at exit: $26,839

10-year hold

• IRR: 3.5%
• Equity multiple: 1.25×
• Total profit: $12,511
• Equity at exit: $15,563

Cash invested: $50,400 (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 68507

• Rents YoY: 2.4%
• Active inventory: 100
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,904 medium
• Mortgage (P&I): −$944
• Tax from tax record: −$167 /mo · $1,999/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$400
• Net cashflow: $319

Break-even live

Break-even rent $1,501

Max offer price $180,000

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6417 Burlington Ave Unit 4 Lincoln, NE	3.0	2.0	1000	$1,300	$1.30	44d	1	0.50mi
8430 Fremont St Lincoln, NE	1.0–3.0	1.0–2.0	1050	$2,380	$2.27	2d	22	1.13mi
2840 N Cotner Blvd Unit 1 Lincoln, NE	3.0	1.0	1450	$1,425	$0.98	44d	1	1.30mi

Listing history 4 events

1. 2026-05-04
   status Pending 876-char remark

   Show marketing remark (876 chars)

   Opportunity at 7131 Burlington Ave with this 4+ bedroom home featuring a layout that maximizes bedroom count and flexible use of interior space. Ideal for those seeking multiple private rooms for various uses including workspace, hobbies, storage, or sleeping areas. The traditional 1900's home includes a kitchen area, mudroom/covered back porch, creating a practical flow from outdoor to indoor spaces. A large yard adds to the appeal, offering room for outdoor enjoyment, future improvements, or expansion possibilities. An additional storage shed provides convenient space for tools, equipment, or seasonal items. Recent updates include, flooring, paint, trim, refreshed kitchen cabinets and front landscaping. With its room count, lot size, and functional features, this home offers strong potential for those seeking a unique property with opportunity & flexibility.

2. 2026-04-15
   status Back On Market 876-char remark

   Show marketing remark (876 chars)

   Opportunity at 7131 Burlington Ave with this 4+ bedroom home featuring a layout that maximizes bedroom count and flexible use of interior space. Ideal for those seeking multiple private rooms for various uses including workspace, hobbies, storage, or sleeping areas. The traditional 1900's home includes a kitchen area, mudroom/covered back porch, creating a practical flow from outdoor to indoor spaces. A large yard adds to the appeal, offering room for outdoor enjoyment, future improvements, or expansion possibilities. An additional storage shed provides convenient space for tools, equipment, or seasonal items. Recent updates include, flooring, paint, trim, refreshed kitchen cabinets and front landscaping. With its room count, lot size, and functional features, this home offers strong potential for those seeking a unique property with opportunity & flexibility.

3. 2026-04-06
   status Pending 876-char remark

   Show marketing remark (876 chars)

   Opportunity at 7131 Burlington Ave with this 4+ bedroom home featuring a layout that maximizes bedroom count and flexible use of interior space. Ideal for those seeking multiple private rooms for various uses including workspace, hobbies, storage, or sleeping areas. The traditional 1900's home includes a kitchen area, mudroom/covered back porch, creating a practical flow from outdoor to indoor spaces. A large yard adds to the appeal, offering room for outdoor enjoyment, future improvements, or expansion possibilities. An additional storage shed provides convenient space for tools, equipment, or seasonal items. Recent updates include, flooring, paint, trim, refreshed kitchen cabinets and front landscaping. With its room count, lot size, and functional features, this home offers strong potential for those seeking a unique property with opportunity & flexibility.

4. 2026-04-02
   listed $180,000 New 876-char remark

   Show marketing remark (876 chars)

   Opportunity at 7131 Burlington Ave with this 4+ bedroom home featuring a layout that maximizes bedroom count and flexible use of interior space. Ideal for those seeking multiple private rooms for various uses including workspace, hobbies, storage, or sleeping areas. The traditional 1900's home includes a kitchen area, mudroom/covered back porch, creating a practical flow from outdoor to indoor spaces. A large yard adds to the appeal, offering room for outdoor enjoyment, future improvements, or expansion possibilities. An additional storage shed provides convenient space for tools, equipment, or seasonal items. Recent updates include, flooring, paint, trim, refreshed kitchen cabinets and front landscaping. With its room count, lot size, and functional features, this home offers strong potential for those seeking a unique property with opportunity & flexibility.

ⓘ 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: $1,999 · $167/mo
• Projected year-2 tax: $3,114 · $260/mo
• Expected delta: +$1,115/yr (+$93/mo · 55.7%)

ⓘ 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 ≥104°F today · 16 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: $22,854
• − Mortgage interest: −$10,083
• − Property taxes: −$1,999
• − Insurance: −$900
• − Repairs & maintenance: −$1,828
• − Management: −$1,828
• − Depreciation: −$5,236
• Taxable income: $979
• Est. tax owed @ 24.0%: −$235
• After-tax cash flow: $3,593/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: Lincoln Public Schools
• NCES district ID: 3172840
• Math proficiency: 50% ▼ -6.00%
• Reading proficiency: 53% ▼ -3.00%
• Median HH income: $50,273
• Composite: 44.05/100
• National rank: #2880
• State rank: #59 of 111 in NE

Livability — Lincoln

• Score: 85/100
• State rank: #5
• US rank: #545

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lincoln, NE
• County: Lancaster County · 291,509 people
• City population: 291,509
• Metro: Lincoln, NE
• Population (ZIP): 16,029
• Household income: $69,488
• Rent vs Own: 33.5% rent · 66.5% own
• Severe rent burden: 557.0

Population outlook (Lancaster County) Hauer SSP2

• Today (2025): 352,806 people
• By 2030: 377,899 · +7.1%
• By 2040: 428,582 · +21.5%
• By 2050: 483,103 · +36.9%
• By 2075: 632,390 · +79.2%
• By 2100: 759,513 · +115.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 10% Hispanic / Latino 9% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 2% Romanian 2% Lithuanian 2%
• Foreign-born: 4% · Canada, China, Vietnam
• Languages at home: 94% English-only · Spanish 4% Vietnamese 1% Arabic 1%

Political lean MEDSL · Lancaster

• 2024 margin: Toss-up / Even · D 51.4% · R 47.1% · Other 1.5%
• 2008→2024 swing: -0.7pp no change · 2008: 5.0pp · 2024: 4.3pp
• All cycles: 2024: D+4.3 2020: D+7.8 2016: D+0.1 2012: R+1.0 2008: D+5.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -273.66%
• Current HPI: 234.3628
• Rent YoY: ▲ 2.37%
• Metro: Lincoln, NE
• 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

4 events — show timeline

• 2026-05-04 Pending — GPRMLS
• 2026-04-15 Relisted — GPRMLS
• 2026-04-06 Pending — GPRMLS
• 2026-04-02 Listed $180,000 GPRMLS

Property tax history

+4.8%/yr

Latest (2025): $1,999 · +2.9% YoY. Source: county tax records.