4535 Marcy St · Omaha, NE 68106

$230,000

5 bd · 1.0 ba · 1,541 sqft · Other public records · 35 Days on market

Built 1914 6,098 sqft lot $149/sqft · 21% below area Est $290k · 21% 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 +18.6/30.0
• ARV discount +15.0/15.0
• DSCR +5.8/10.0
• 1% rule +5.2/10.0
• Livability +4.2/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Location is everything! Close to UNMC, UNO, Mutual of O.,Elmwood Park, Shopping, Restaurants, Blackstone & Aksarben Dist. Short Commute Time. Updated Kitchen w/ Gas Stove, Updated Main Bath, Fresh Neutral Paint Throughout. Hardwood Floors & New Carpet in All 5 Bedrooms, Some Original Hardware! Bay Window, Sitting Porch - Old World Charm. Alley Access w/ Parking Pad. Great 1st Home or Investment Property. Ready Today! Sold As-Is. AMA

Key facts

• Alley access
• Updated bath
• Updated kitchen

Tags

• UPDATED KITCHEN
• UPDATED BATH
• HARDWOOD FLOORS
• ENCLOSE BACK PORCH
• ALLEY ACCESS
• PARKING PAD

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one half stories; Built in 1914
• Construction: Block foundation
• Exterior features: Enclosed patio; Deck; Partial privacy vinyl fencing; Lot up to 1/4 acre (approx. 50' x 130')

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Master bedroom on 2nd floor (approx. 13.6' x 14.8'); Bedroom 2 on 2nd floor (approx. 11.2' x 15.4'); Bedroom 3 on 2nd floor (approx. 12.3' x 9.8'); Bedroom 4 on main floor (approx. 10.4' x 11.11'); Bedroom 5 on main floor (approx. 10.4' x 9.11')
• Flooring: Carpet; Wood
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Natural gas forced air heating; Central air conditioning
• Interior features: Unfinished basement; No fireplaces
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath other listed at $230k.

Deal economics

• At list price, monthly cash flow is $222 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $230k).
• Recommended offer: $223k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.5% 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: Beals Elementary School (math 27% / reading 37%, grade F, #405 of 502 statewide, top 84%, 305 students, 0% FRL); Norris Middle School (math 11% / reading 16%, grade F, #126 of 128 statewide, top 98%, 1,187 students, 0% FRL); Central High School (math 29% / reading 40%, grade F, #208 of 261 statewide, top 86%, 2,738 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 fast (+4.3%/yr); 88 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; 4,539 units permitted in Douglas County in 2024 (2,583 in 5+ unit buildings).
• This rent runs 40% of the median local income ($70k/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 $2k of loan paydown is wiped out by about $7k 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 35 days — a 3% lower offer ($223k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 24y 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 $122k; list at $230k implies a 89% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $223,100 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 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 1914 — 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: 1.02% ✓
• Cap rate: 7.45%
• Cash-on-cash: 4.14%
• DSCR: 1.18
• GRM: 8.2

CMA / ARV

• ARV (median comp): $290,173
• List price: $230,000
• Delta: -20.74%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.26% rent growth · sell at horizon

5-year hold

• IRR: -8.4%
• Equity multiple: 0.69×
• Total profit: $-20,071
• Equity at exit: $34,294

10-year hold

• IRR: 2.8%
• Equity multiple: 1.21×
• Total profit: $13,592
• Equity at exit: $19,886

Cash invested: $64,400 (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 68106

• Rents YoY: 4.3%
• Active inventory: 88
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,337 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$322 /mo · $3,866/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$491
• Net cashflow: $222

Break-even live

Break-even rent $2,056

Max offer price $230,000

Occupancy floor 86%

Sensitivity live

Price	-10% $352	-5% $287	+0% $222	+5% $157	+10% $92
Rent	-10% $37	-5% $130	+0% $222	+5% $314	+10% $407
Rate	-1.0pp $338	-0.5pp $281	base $222	+0.5pp $162	+1.0pp $102

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4228 Mayberry St Omaha, NE	4.0	1.0	1664	$1,700	$1.02	15d	1	0.26mi
814 S 50th Ave Omaha, NE	4.0	2.0	2239	$3,000	$1.34	44d	1	0.50mi
3919 Farnam St Unit 3915 Farnam Omaha, NE	4.0	2.0	1700	$2,350	$1.38	44d	1	0.66mi
2130 S 47th St Omaha, NE	4.0	2.0	1270	$2,100	$1.65	44d	1	0.85mi
5518 Woolworth Ave Omaha, NE	4.0	3.0	1765	$2,700	$1.53	12d	1	0.96mi
303 N 38th St Omaha, NE	4.0	1.5	1472	$1,995	$1.36	24d	1	1.02mi
4824 Webster St Unit 4824/4824 Omaha, NE	4.0	1.0	1317	$1,050	$0.80	44d	1	1.09mi
132 N 35th Ave Omaha, NE	5.0	2.0	1959	$2,550	$1.30	44d	1	1.09mi
5004 Webster St Omaha, NE	4.0	3.0	2156	$2,500	$1.16	44d	1	1.15mi
3403 Arbor St Omaha, NE	5.0	2.0	1556	$2,500	$1.61	3d	1	1.44mi

Listing history 24 events

1. 2026-06-18
   days on market $230,000 Active 35 DOM
2. 2026-06-17
   days on market $230,000 Active 34 DOM
3. 2026-06-16
   days on market $230,000 Active 33 DOM
4. 2026-06-15
   days on market $230,000 Active 32 DOM
5. 2026-06-13
   days on market $230,000 Active 30 DOM
6. 2026-06-10
   days on market $230,000 Active 27 DOM
7. 2026-06-09
   days on market $230,000 Active 26 DOM
8. 2026-06-08
   days on market $230,000 Active 25 DOM
9. 2026-06-07
   days on market $230,000 Active 24 DOM
10. 2026-06-03
    days on market $230,000 Active 20 DOM
11. 2026-06-03
    days on market $230,000 Active 19 DOM
12. 2026-06-01
    days on market $230,000 Active 18 DOM
13. 2026-06-01
    days on market $230,000 Active 17 DOM
14. 2026-05-14
    listed $230,000 New 397-char remark
15. 2018-02-02
    soldstatus $122,000
16. 2018-01-31
    soldstatus $121,500 Sold 444-char remark

    Show marketing remark (444 chars)

    Location is everything! Close to UNMC, UNO, Mutual of O.,Elmwood Park, Shopping, Restaurants, Blackstone & Aksarben Dist. Short Commute Time. Updated Kitchen w/ Gas Stove, Updated Main Bath, Fresh Neutral Paint Throughout. Hardwood Floors & New Carpet in All 5 Bedrooms, Some Original Hardware! Bay Window, Sitting Porch - Old World Charm. Alley Access w/ Parking Pad. Great 1st Home or Investment Property. Ready Today! Sold As-Is. AMA

17. 2017-12-28
    status Pending 444-char remark

    Show marketing remark (444 chars)

    Location is everything! Close to UNMC, UNO, Mutual of O.,Elmwood Park, Shopping, Restaurants, Blackstone & Aksarben Dist. Short Commute Time. Updated Kitchen w/ Gas Stove, Updated Main Bath, Fresh Neutral Paint Throughout. Hardwood Floors & New Carpet in All 5 Bedrooms, Some Original Hardware! Bay Window, Sitting Porch - Old World Charm. Alley Access w/ Parking Pad. Great 1st Home or Investment Property. Ready Today! Sold As-Is. AMA

18. 2017-12-15
    listed $130,000 Active - New 444-char remark

    Show marketing remark (444 chars)

    Location is everything! Close to UNMC, UNO, Mutual of O.,Elmwood Park, Shopping, Restaurants, Blackstone & Aksarben Dist. Short Commute Time. Updated Kitchen w/ Gas Stove, Updated Main Bath, Fresh Neutral Paint Throughout. Hardwood Floors & New Carpet in All 5 Bedrooms, Some Original Hardware! Bay Window, Sitting Porch - Old World Charm. Alley Access w/ Parking Pad. Great 1st Home or Investment Property. Ready Today! Sold As-Is. AMA

19. 2003-09-30
    soldstatus $93,000
20. 2003-08-26
    soldstatus $92,500

    Show marketing remark (188 chars)

    Old House With A Facelift! New Kitchen, Bath, Roof & Gutters Main Floor Utility Large Enclosed Porch To Lovely Landscaped Back Yard 4 Bedrms Newer Furnace & A/C New Tilt-in Windows

21. 2003-07-25
    historical

    Show marketing remark (188 chars)

    Old House With A Facelift! New Kitchen, Bath, Roof & Gutters Main Floor Utility Large Enclosed Porch To Lovely Landscaped Back Yard 4 Bedrms Newer Furnace & A/C New Tilt-in Windows

22. 2003-07-14
    listed $92,500

    Show marketing remark (188 chars)

    Old House With A Facelift! New Kitchen, Bath, Roof & Gutters Main Floor Utility Large Enclosed Porch To Lovely Landscaped Back Yard 4 Bedrms Newer Furnace & A/C New Tilt-in Windows

23. 2003-02-10
    historical
24. 2002-08-12
    listed $87,900

ⓘ 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: $3,866 · $322/mo
• Projected year-2 tax: $3,979 · $332/mo
• Expected delta: +$113/yr (+$9/mo · 2.9%)

ⓘ 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 · 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: $28,043
• − Mortgage interest: −$12,884
• − Property taxes: −$3,866
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,243
• − Management: −$2,243
• − Depreciation: −$6,691
• Taxable loss: −$1,034
• Est. tax savings @ 24.0%: +$248
• After-tax cash flow: $2,913/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): 21,224
• Household income: $69,806
• Rent vs Own: 48.9% rent · 51.1% own
• Severe rent burden: 1402.0

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 13% Two or more races 8% Black 7% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Romanian 4% Slovak 2% Portuguese 2%
• Foreign-born: 11% · Canada, United Kingdom, Jamaica
• Languages at home: 84% English-only · Spanish 9% Other Indo-European 2% 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: ▼ -268.80%
• Current HPI: 261.1403
• Rent YoY: ▲ 4.26%
• 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

+161.7% since first listed

11 events — show timeline

• 2026-05-14 Listed $230,000 GPRMLS
• 2018-02-02 Sold (Public Records) $122,000 Public Records
• 2018-01-31 Sold (MLS) $121,500 GPRMLS
• 2017-12-28 Pending — GPRMLS
• 2017-12-15 Listed $130,000 GPRMLS
• 2003-09-30 Sold (Public Records) $93,000 Public Records
• 2003-08-26 Sold (MLS) $92,500 GPRMLS
• 2003-07-25 Listing Removed — GPRMLS
• 2003-07-14 Listed $92,500 GPRMLS
• 2003-02-10 Listing Removed — GPRMLS
• 2002-08-12 Listed $87,900 GPRMLS

Property tax history

+5.4%/yr

Latest (2025): $3,866 · -2.6% YoY. Source: county tax records.