3015 Grebe St · Omaha, NE 68112

$230,000

4 bd · 2.0 ba · 1,554 sqft · Other public records · 1 Days on market

Built 1906 10,824 sqft lot

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Why this score? — see what drove the D 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 +15.5/30.0
• ARV discount +7.5/15.0
• DSCR +4.8/10.0
• Livability +4.2/5.0
• 1% rule +3.2/10.0
• 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

Nice, 1-1/2 story home with a huge master suite on the second floor that offers a private office area off the bedroom, or use this space for the inlaws! Alley access leads to a 2-stall detached garage alongside an oversized, completely fenced in yard. Updates include metal siding, vinyl windows, and new hardwood floors. Appliances all stay including a soft water system. The water heater is just over 2 years old. A family room addition even features a beautiful stained glass window. This house offers alot of room by design and the location is also close to I-680. The seller had to relocate to Lincoln and will look at all offers. The listing agent is related to the seller.

Key facts

• Pantry
• Great natural light
• Ss appliances

Tags

• HARDWOOD FLOORS
• PANTRY
• SS APPLIANCES
• SPACIOUS DINING AREA
• GREAT NATURAL LIGHT
• SITTING AREA

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $230k.

Deal economics

• At list price, monthly cash flow is $94 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $188k (18.1% below list).
• Recommended offer: $188k (18.1% below list) — sets the bar for 1% rule.
• Cap rate 6.8% 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: Florence Elementary School (math 22% / reading 32%, grade F, #438 of 502 statewide, top 88%, 251 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; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 4,539 units permitted in Douglas County in 2024 (2,583 in 5+ unit buildings).
• This rent runs 40% 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 $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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 20y 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 $88k; list at $230k implies a 161% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1906 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $188,339 (18.1% below list)

Questions for the listing agent

1. Built in 1906 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.82% ✗
• Cap rate: 6.78%
• Cash-on-cash: 1.75%
• DSCR: 1.08
• GRM: 10.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -13.6%
• Equity multiple: 0.51×
• Total profit: $-31,381
• Equity at exit: $34,294

10-year hold

• IRR: -4.7%
• Equity multiple: 0.69×
• Total profit: $-19,997
• 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 68112

• Home prices YoY: -29.4%
• Active inventory: 57
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,883 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$92 /mo · $1,104/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$396
• Net cashflow: $94

Break-even live

Break-even rent $1,765

Max offer price $230,000

Occupancy floor 90%

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 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7608 N 29th St Omaha, NE	4.0	2.0	2040	$2,200	$1.08	2d	1	0.37mi
3366 Craig Ave Omaha, NE	4.0	1.0	1250	$1,511	$1.21	19d	1	0.40mi
3030 Ernst St Omaha, NE	3.0	2.0	1500	$1,500	$1.00	2d	1	0.63mi
3501 Weber Cir Omaha, NE	3.0	2.0	1600	$1,700	$1.06	10d	1	0.66mi
9510 N 31st St Omaha, NE	3.0	2.0	1228	$1,500	$1.22	10d	1	0.90mi
4026 Bauman Ave Omaha, NE	4.0	1.0	1350	$1,695	$1.26	43d	1	1.28mi
2873 Kansas Ave Omaha, NE	3.0	2.0	1112	$1,450	$1.30	23d	1	1.43mi

Listing history 19 events

1. 2026-04-21
   status Pending
2. 2026-04-20
   listed $230,000 New
3. 2017-08-04
   soldstatus $88,000
4. 2017-08-02
   soldstatus $88,000 679-char remark

   Show marketing remark (492 chars)

   Nice 1-1/2 story home with a huge master suite on the second floor that offers a private office area off the bedroom. Alley access to a 2-stall detached garage alongside an oversized, completely fenced in yard. Updates include metal siding, vinyl windows, and new hardwood floors. Appliances all stay including a soft water system. Water heater just over 2 years old. Family room addition features a beautiful stained glass window. Bring Your Offer! Owner has an inactive real estate license.

5. 2017-08-02
   soldstatus $88,000 Sold 492-char remark

   Show marketing remark (492 chars)

   Nice 1-1/2 story home with a huge master suite on the second floor that offers a private office area off the bedroom. Alley access to a 2-stall detached garage alongside an oversized, completely fenced in yard. Updates include metal siding, vinyl windows, and new hardwood floors. Appliances all stay including a soft water system. Water heater just over 2 years old. Family room addition features a beautiful stained glass window. Bring Your Offer! Owner has an inactive real estate license.

6. 2017-07-25
   status Pending 492-char remark

   Show marketing remark (492 chars)

   Nice 1-1/2 story home with a huge master suite on the second floor that offers a private office area off the bedroom. Alley access to a 2-stall detached garage alongside an oversized, completely fenced in yard. Updates include metal siding, vinyl windows, and new hardwood floors. Appliances all stay including a soft water system. Water heater just over 2 years old. Family room addition features a beautiful stained glass window. Bring Your Offer! Owner has an inactive real estate license.

7. 2017-06-25
   historical 679-char remark

   Show marketing remark (679 chars)

   Nice, 1-1/2 story home with a huge master suite on the second floor that offers a private office area off the bedroom, or use this space for the inlaws! Alley access leads to a 2-stall detached garage alongside an oversized, completely fenced in yard. Updates include metal siding, vinyl windows, and new hardwood floors. Appliances all stay including a soft water system. The water heater is just over 2 years old. A family room addition even features a beautiful stained glass window. This house offers alot of room by design and the location is also close to I-680. The seller had to relocate to Lincoln and will look at all offers. The listing agent is related to the seller.

8. 2017-06-02
   price $96,200 492-char remark

   Show marketing remark (492 chars)

   Nice 1-1/2 story home with a huge master suite on the second floor that offers a private office area off the bedroom. Alley access to a 2-stall detached garage alongside an oversized, completely fenced in yard. Updates include metal siding, vinyl windows, and new hardwood floors. Appliances all stay including a soft water system. Water heater just over 2 years old. Family room addition features a beautiful stained glass window. Bring Your Offer! Owner has an inactive real estate license.

9. 2017-06-01
   listed $96,200,000 Active - New 492-char remark

   Show marketing remark (492 chars)

   Nice 1-1/2 story home with a huge master suite on the second floor that offers a private office area off the bedroom. Alley access to a 2-stall detached garage alongside an oversized, completely fenced in yard. Updates include metal siding, vinyl windows, and new hardwood floors. Appliances all stay including a soft water system. Water heater just over 2 years old. Family room addition features a beautiful stained glass window. Bring Your Offer! Owner has an inactive real estate license.

10. 2017-02-26
    listed $99,000 679-char remark

    Show marketing remark (679 chars)

    Nice, 1-1/2 story home with a huge master suite on the second floor that offers a private office area off the bedroom, or use this space for the inlaws! Alley access leads to a 2-stall detached garage alongside an oversized, completely fenced in yard. Updates include metal siding, vinyl windows, and new hardwood floors. Appliances all stay including a soft water system. The water heater is just over 2 years old. A family room addition even features a beautiful stained glass window. This house offers alot of room by design and the location is also close to I-680. The seller had to relocate to Lincoln and will look at all offers. The listing agent is related to the seller.

11. 2016-03-01
    soldstatus $89,000
12. 2016-02-22
    soldstatus $88,600 Sold
13. 2015-12-18
    status Pending
14. 2015-11-25
    price $91,000
15. 2015-09-15
    listed $97,500 Active - New
16. 2006-06-27
    soldstatus $94,000
17. 2006-06-26
    soldstatus $94,000
18. 2006-05-13
    historical
19. 2006-04-14
    listed $99,900

ⓘ 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: $1,104 · $92/mo
• Projected year-2 tax: $3,979 · $332/mo
• Expected delta: +$2,875/yr (+$240/mo · 260.4%)

ⓘ 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 3/10 Moderate
• 🌡 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: $22,601
• − Mortgage interest: −$12,884
• − Property taxes: −$1,104
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,808
• − Management: −$1,808
• − Depreciation: −$6,691
• Taxable loss: −$2,844
• Est. tax savings @ 24.0%: +$683
• After-tax cash flow: $1,809/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

+130.2% since first listed

19 events — show timeline

• 2026-04-21 Pending — GPRMLS
• 2026-04-20 Listed $230,000 GPRMLS
• 2017-08-04 Sold (Public Records) $88,000 Public Records
• 2017-08-02 Sold (MLS) $88,000 GPRMLS
• 2017-08-02 Sold (MLS) $88,000 GPRMLS
• 2017-07-25 Pending — GPRMLS
• 2017-06-25 Listing Removed — GPRMLS
• 2017-06-02 Price Changed $96,200 GPRMLS
• 2017-06-01 Listed $96,200,000 GPRMLS
• 2017-02-26 Listed $99,000 GPRMLS
• 2016-03-01 Sold (Public Records) $89,000 Public Records
• 2016-02-22 Sold (MLS) $88,600 GPRMLS
• 2015-12-18 Pending — GPRMLS
• 2015-11-25 Price Changed $91,000 GPRMLS
• 2015-09-15 Listed $97,500 GPRMLS
• 2006-06-27 Sold (Public Records) $94,000 Public Records
• 2006-06-26 Sold (MLS) $94,000 GPRMLS
• 2006-05-13 Listing Removed — GPRMLS
• 2006-04-14 Listed $99,900 GPRMLS

Property tax history

-4.3%/yr

Latest (2025): $1,104 · +69.9% YoY. Source: county tax records.