2622 Decatur St · Omaha, NE 68111

$179,000

4 bd · 1.0 ba · 1,662 sqft · Other public records · 16 Days on market

Built 1905 3,485 sqft lot

---

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 +18.4/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• 1% rule +4.9/10.0
• Livability +4.2/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0

Listing remarks MLS

Recently updated and move-in ready, this 4-bedroom home offers space, style, and convenience in a growing North Omaha area. Inside, you’ll find luxury vinyl flooring throughout, fresh paint, and newer windows that bring in plenty of natural light. The kitchen features granite countertops and a clean, updated look buyers love, while main-floor laundry adds everyday practicality. With four bedrooms, a functional layout, and modern updates already done, this home is a great option for an owner-occupant or investor. Conveniently located near ongoing redevelopment, local amenities, parks, shopping, dining, and easy access to main roads, this is a solid opportunity in an area seeing continued growth and improvement. Seller motivated!

Key facts

• Local amenities
• Granite countertops
• Main-floor laundry

Tags

• LUXURY VINYL FLOORING
• GRANITE COUNTERTOPS
• MAIN-FLOOR LAUNDRY
• LOCAL AMENITIES
• EASY ACCESS TO MAIN ROADS

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath other listed at $179k.

Deal economics

• At list price, monthly cash flow is $168 ($2k/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 $178k (0.6% below list).
• Recommended offer: $176k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.4% 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.
• Market conditions: Rents rising (+3.2%/yr); 140 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 4,539 units permitted in Douglas County in 2024 (2,583 in 5+ unit buildings).
• At $1,779/mo this rent would consume 51% of the median local household income ($42k/yr) (locally 1913% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Douglas County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.2% rent growth), your $50k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 3 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.
• Current owner paid $16k; list at $179k implies a 1019% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $176,315 (1.5% below list)

Questions for the listing agent

1. Built in 1905 — 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: 0.99% ✗
• Cap rate: 7.42%
• Cash-on-cash: 4.03%
• DSCR: 1.18
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.22% rent growth · sell at horizon

5-year hold

• IRR: 27.3%
• Equity multiple: 3.17×
• Total profit: $108,636
• Equity at exit: $161,257

10-year hold

• IRR: 23.9%
• Equity multiple: 7.23×
• Total profit: $312,343
• Equity at exit: $347,758

Cash invested: $50,120 (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 68111

• Home prices YoY: 4.0%
• Rents YoY: 3.2%
• Active inventory: 140
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,779 high
• Mortgage (P&I): −$939
• Tax est. 1.5%: −$224 /mo · $2,685/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $168

Break-even live

Break-even rent $1,566

Max offer price $179,000

Occupancy floor 86%

Sensitivity live

Price	-10% $292	-5% $230	+0% $168	+5% $107	+10% $45
Rent	-10% $28	-5% $98	+0% $168	+5% $239	+10% $309
Rate	-1.0pp $259	-0.5pp $214	base $168	+0.5pp $122	+1.0pp $75

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1120 N 20th St Unit 309 Omaha, NE	4.0	2.0	1179	$1,550	$1.31	25d	1	0.54mi
1120 N 20th St Unit 102 Omaha, NE	3.0	2.0	1094	$580	$0.53	16d	1	0.54mi
1120 N 20th St Unit 103 Omaha, NE	3.0	2.0	1170	$1,150	$0.98	16d	1	0.54mi
3314 Franklin St Omaha, NE	4.0	2.0	1635	$1,600	$0.98	45d	1	0.60mi
3430 Seward St Omaha, NE	3.0	1.0	1371	$1,695	$1.24	16d	1	0.70mi
1820 Miami St Omaha, NE	4.0	1.5	1306	$1,050	$0.80	45d	1	0.76mi
2929 California St Omaha, NE	1.0–4.0	1.0–3.0	1280	$3,340	$2.61	4d	118	0.79mi
1015 N 14th St Omaha, NE	1.0–3.0	1.0–3.0	910	$1,855	$2.04	3d	17	0.99mi
3708 Florence Blvd Omaha, NE	3.0	1.0	1102	$1,395	$1.27	22d	1	1.25mi
132 N 35th Ave Omaha, NE	5.0	2.0	1959	$2,550	$1.30	45d	1	1.29mi
206 S 19th St Omaha, NE	1.0–3.0	1.0–3.0	918	$1,935	$2.11	4d	60	1.31mi
303 N 38th St Omaha, NE	4.0	1.5	1472	$1,995	$1.36	25d	1	1.34mi
3001 Harney St Omaha, NE	3.0	3.0	1764	$2,395	$1.36	45d	1	1.38mi
424 S 24th St Unit 109 Omaha, NE	4.0	2.0	1170	$1,400	$1.20	4d	1	1.40mi
106 S 36th St Omaha, NE	3.0	3.0	1750	$2,275	$1.30	4d	1	1.41mi
528 S 26th Ave Ste B Omaha, NE	4.0	1.0	1748	$1,650	$0.94	4d	1	1.44mi
110 N 38th St Unit 110 Omaha, NE	3.0	2.0	1600	$1,750	$1.09	25d	1	1.45mi
2211 Howard St Omaha, NE	3.0	1.0–3.0	837	$2,410	$2.88	4d	48	1.47mi
542 S 29th St Omaha, NE	3.0	1.5	1442	$1,750	$1.21	16d	1	1.49mi

Listing history 13 events

1. 2026-05-08
   status Pending 744-char remark

   Show marketing remark (744 chars)

   Recently updated and move-in ready, this 4-bedroom home offers space, style, and convenience in a growing North Omaha area. Inside, you’ll find luxury vinyl flooring throughout, fresh paint, and newer windows that bring in plenty of natural light. The kitchen features granite countertops and a clean, updated look buyers love, while main-floor laundry adds everyday practicality. With four bedrooms, a functional layout, and modern updates already done, this home is a great option for an owner-occupant or investor. Conveniently located near ongoing redevelopment, local amenities, parks, shopping, dining, and easy access to main roads, this is a solid opportunity in an area seeing continued growth and improvement. Seller motivated!

2. 2026-05-06
   price $179,000 744-char remark

   Show marketing remark (744 chars)

   Recently updated and move-in ready, this 4-bedroom home offers space, style, and convenience in a growing North Omaha area. Inside, you’ll find luxury vinyl flooring throughout, fresh paint, and newer windows that bring in plenty of natural light. The kitchen features granite countertops and a clean, updated look buyers love, while main-floor laundry adds everyday practicality. With four bedrooms, a functional layout, and modern updates already done, this home is a great option for an owner-occupant or investor. Conveniently located near ongoing redevelopment, local amenities, parks, shopping, dining, and easy access to main roads, this is a solid opportunity in an area seeing continued growth and improvement. Seller motivated!

3. 2026-04-21
   listed $180,000 New 744-char remark

   Show marketing remark (744 chars)

   Recently updated and move-in ready, this 4-bedroom home offers space, style, and convenience in a growing North Omaha area. Inside, you’ll find luxury vinyl flooring throughout, fresh paint, and newer windows that bring in plenty of natural light. The kitchen features granite countertops and a clean, updated look buyers love, while main-floor laundry adds everyday practicality. With four bedrooms, a functional layout, and modern updates already done, this home is a great option for an owner-occupant or investor. Conveniently located near ongoing redevelopment, local amenities, parks, shopping, dining, and easy access to main roads, this is a solid opportunity in an area seeing continued growth and improvement. Seller motivated!

4. 2026-04-16
   status Pending
5. 2026-04-13
   historical
6. 2026-04-07
   price $180,000
7. 2026-03-23
   price $185,000
8. 2026-03-14
   listed $195,000 New
9. 2026-03-09
   historical
10. 2026-02-23
    price $187,000
11. 2026-01-29
    price $197,500
12. 2025-12-17
    listed $200,000 New
13. 2001-10-01
    soldstatus $16,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥105°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: $21,349
• − Mortgage interest: −$10,027
• − Property taxes: −$2,685
• − Insurance: −$895
• − Repairs & maintenance: −$1,708
• − Management: −$1,708
• − Depreciation: −$5,207
• Taxable loss: −$881
• Est. tax savings @ 24.0%: +$211
• After-tax cash flow: $2,233/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): 24,210
• Household income: $42,185
• Rent vs Own: 60.3% rent · 39.7% own
• Severe rent burden: 1913.0

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 0.65)
• Race & ethnicity: Black 52% Hispanic / Latino 21% White 17% Two or more races 15% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Ukrainian 3% Lithuanian 0%
• Foreign-born: 14% · Canada, Philippines
• Languages at home: 75% English-only · Spanish 16% Other Asian/Pacific 3% 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: ▲ 13.82%
• Current HPI: 358.7174
• Rent YoY: ▲ 3.22%
• 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

+1018.8% since first listed

13 events — show timeline

• 2026-05-08 Pending — GPRMLS
• 2026-05-06 Price Changed $179,000 GPRMLS
• 2026-04-21 Listed $180,000 GPRMLS
• 2026-04-16 Pending — GPRMLS
• 2026-04-13 Listing Removed — GPRMLS
• 2026-04-07 Price Changed $180,000 GPRMLS
• 2026-03-23 Price Changed $185,000 GPRMLS
• 2026-03-14 Listed $195,000 GPRMLS
• 2026-03-09 Listing Removed — GPRMLS
• 2026-02-23 Price Changed $187,000 GPRMLS
• 2026-01-29 Price Changed $197,500 GPRMLS
• 2025-12-17 Listed $200,000 GPRMLS
• 2001-10-01 Sold (Public Records) $16,000 Public Records

Property tax history

-25.7%/yr

Latest (2025): $43 · -70.2% YoY. Source: county tax records.