6040 Platte Ave · Lincoln, NE 68507

$129,900

2 bd · 1.0 ba · 1,128 sqft · SingleFamily public records · 1 Days on market

Built 1920 5,184 sqft lot $115/sqft · 29% below area Est $184k · 29% 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 +22.6/30.0
• ARV discount +15.0/15.0
• DSCR +7.3/10.0
• 1% rule +6.2/10.0
• 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

Great rental unit that has had many updates, such as Oak floors and bathroom remodel.

Key facts

• Enclosed back porch
• Large laundry room
• 5,184 sq ft lot

Tags

• WELL APPOINTED KITCHEN
• ENCLOSED BACK PORCH
• LARGE LAUNDRY ROOM

Property features AI

Exterior

• Parking: No garage
• Utilities: Electricity available; Natural gas available; Public water; Sewer available; Cable available
• Home design: Single-family residence; Residential property; Not new (existing home); Built in 1920; One-story layout (main floor living areas)
• Construction: Frame construction; Composition roof; Other foundation
• Exterior features: Porch; Enclosed porch; City lot; Level lot; Alley access; Up to 1/4 acre lot

Interior

• Kitchen: Oven; Refrigerator; Dishwasher
• Bedrooms: Primary bedroom on the main floor; Additional bedrooms on the main floor
• Flooring: Wood flooring; Laminate flooring
• Bathrooms: One full bathroom on the main floor
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: No fireplaces; Storm cellar
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $130k.

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 ($1k rent vs $130k).
• Cap rate 8.3% vs local median 3.1% 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.
• Zoned schools: Huntington Elementary School (math 22% / reading 32%, grade F, #438 of 502 statewide, top 88%, 372 students, 0% FRL); Dawes Middle School (math 32% / reading 38%, grade F, #103 of 128 statewide, top 80%, 405 students, 48% FRL); Lincoln Northeast High School (math 34% / reading 36%, grade F, #207 of 261 statewide, top 79%, 1,812 students, 62% FRL) — zoned schools at 37% FRL track the district average.
• Zoned-school proficiency averages 32% at this address vs 52% district-wide (-19 pts) — the specific schools serving this property underperform the Lincoln Public Schools average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+2.4%/yr); 105 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 45% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 10y 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 $110k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $129,900

Questions for the listing agent

1. Built in 1920 — 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: 1.12% ✓
• Cap rate: 8.34%
• Cash-on-cash: 7.32%
• DSCR: 1.33
• GRM: 7.4

CMA / ARV

• ARV (median comp): $183,644
• List price: $129,900
• Delta: -31.99%
• 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
6001 Logan Ave	0.33mi	2/1.0	1,024 (-9%)	0mo	$200,000	$195	69
5637 Morrill Ave	0.39mi	2/1.0	1,064 (-6%)	11mo	$187,500	$176	63
6616 Havelock Ave	0.41mi	3/1.0 (+1)	1,200 (+6%)	4mo	$148,000	$123	62
5700 Morrill Ave	0.35mi	2/1.0	982 (-13%)	1mo	$125,000	$127	62
4301 N 61 St	0.16mi	3/1.0 (+1)	1,291 (+14%)	6mo	$177,000	$137	59
6633 Platte Ave	0.42mi	3/1.0 (+1)	1,064 (-6%)	10mo	$195,000	$183	57
6830 Morrill Ave	0.60mi	2/1.5	1,222 (+8%)	1mo	$201,000	$164	55
6336 Fremont St	0.69mi	3/1.0 (+1)	1,152 (+2%)	5mo	$180,000	$156	55
6613 Burlington Ave	0.40mi	2/1.0	972 (-14%)	5mo	$165,500	$170	54
6925 Kearney Ave	0.74mi	3/1.0 (+1)	1,152 (+2%)	10mo	$200,000	$174	49
6920 Havelock Ave	0.62mi	2/2.0	1,225 (+9%)	9mo	$215,000	$176	45
3733 N 66th St	0.66mi	3/1.5 (+1)	999 (-11%)	2mo	$173,000	$173	41

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: -5.8%
• Equity multiple: 0.79×
• Total profit: $-7,793
• Equity at exit: $19,369

10-year hold

• IRR: 3.1%
• Equity multiple: 1.22×
• Total profit: $7,861
• Equity at exit: $11,231

Cash invested: $36,372 (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: 105
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,458 high
• Mortgage (P&I): −$681
• Tax from tax record: −$195 /mo · $2,337/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$306
• Net cashflow: $222

Break-even live

Break-even rent $1,177

Max offer price $129,900

Occupancy floor 80%

Sensitivity live

Price	-10% $295	-5% $259	+0% $222	+5% $185	+10% $148
Rent	-10% $107	-5% $164	+0% $222	+5% $280	+10% $337
Rate	-1.0pp $287	-0.5pp $255	base $222	+0.5pp $188	+1.0pp $154

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4444 N 60th St Lincoln, NE	2.0	1.0	1248	$1,440	$1.15	15d	1	0.01mi
6417 Burlington Ave Unit 4 Lincoln, NE	3.0	2.0	1000	$1,300	$1.30	45d	1	0.30mi
6433 Platte Ave Lincoln, NE	2.0	1.0	1386	$1,995	$1.44	22d	1	0.31mi
3609 N 60th St Unit 7 Lincoln, NE	2.0	1.0	724	$795	$1.10	45d	1	0.63mi
5301 Benton St Unit 5307 Lincoln, NE	3.0	2.0	720	$1,295	$1.80	45d	1	0.74mi
4711 Gladstone St Lincoln, NE	2.0	1.0	806	$1,025	$1.27	15d	1	1.18mi
4715 Gladstone St Lincoln, NE	2.0	1.0	806	$1,025	$1.27	15d	1	1.19mi
3202 N 48th St Unit 2 Lincoln, NE	2.0	1.0	950	$1,050	$1.11	22d	1	1.22mi
2840 N Cotner Blvd Unit 1 Lincoln, NE	3.0	1.0	1450	$1,425	$0.98	45d	1	1.25mi
2701 N 70th St Lincoln, NE	1.0–2.0	1.0–1.5	886	$960	$1.08	15d	1	1.37mi
2742 N 48th St Unit 03 Lincoln, NE	2.0	1.0	769	$895	$1.16	45d	1	1.47mi

Listing history 17 events

1. 2026-06-03
   status $129,900 Pending 1 DOM
2. 2026-06-01
   remarks 684-char remark
3. 2026-06-01
   pricestatusdays on marketlisting id $129,900 New 1 DOM
4. 2026-05-12
   historical
5. 2026-03-16
   status Back On Market
6. 2026-03-12
   status Pending
7. 2026-03-05
   price $124,900
8. 2026-01-16
   price $134,900
9. 2025-12-02
   price $149,900
10. 2025-11-07
    listed $164,900 New
11. 2021-07-15
    soldstatus $110,000 Sold 85-char remark

    Show marketing remark (85 chars)

    Great rental unit that has had many updates, such as Oak floors and bathroom remodel.

12. 2021-07-01
    status Pending 85-char remark

    Show marketing remark (85 chars)

    Great rental unit that has had many updates, such as Oak floors and bathroom remodel.

13. 2021-06-18
    listed $105,000 Active - New 85-char remark

    Show marketing remark (85 chars)

    Great rental unit that has had many updates, such as Oak floors and bathroom remodel.

14. 2016-09-13
    soldstatus $55,000
15. 2016-09-08
    soldstatus $55,000
16. 2016-08-27
    historical
17. 2016-08-02
    listed $54,900

ⓘ 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: $2,337 · $195/mo
• Projected year-2 tax: $2,337 · $195/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $17,499
• − Mortgage interest: −$7,276
• − Property taxes: −$2,337
• − Insurance: −$650
• − Repairs & maintenance: −$1,400
• − Management: −$1,400
• − Depreciation: −$3,779
• Taxable income: $657
• Est. tax owed @ 24.0%: −$158
• After-tax cash flow: $2,505/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

+136.6% since first listed

16 events — show timeline

• 2026-06-02 Pending — GPRMLS
• 2026-06-01 Listed $129,900 GPRMLS
• 2026-05-12 Listing Removed — GPRMLS
• 2026-03-16 Relisted — GPRMLS
• 2026-03-12 Pending — GPRMLS
• 2026-03-05 Price Changed $124,900 GPRMLS
• 2026-01-16 Price Changed $134,900 GPRMLS
• 2025-12-02 Price Changed $149,900 GPRMLS
• 2025-11-07 Listed $164,900 GPRMLS
• 2021-07-15 Sold (MLS) $110,000 GPRMLS
• 2021-07-01 Pending — GPRMLS
• 2021-06-18 Listed $105,000 GPRMLS
• 2016-09-13 Sold (Public Records) $55,000 Public Records
• 2016-09-08 Sold (MLS) $55,000 GPRMLS
• 2016-08-27 Listing Removed — GPRMLS
• 2016-08-02 Listed $54,900 GPRMLS

Property tax history

+7.9%/yr

Latest (2025): $2,337 · +21.1% YoY. Source: county tax records.