12803 Aurora Plz

Omaha, NE 68164

$95,000B

3 bd · 1.0 ba · 1,080 sqft · Built 1997 · Manufactured · Pending · 17 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,713/mo
• Mortgage (P&I): −$498
• Tax + insurance: −$158
• HOA: −$0
• Vac / Maint / Mgmt: −$360
• Net cashflow: $696/mo
• Annual: $8,357/yr
• Cap rate: 15.09%
• Cash-on-cash: 31.42%
• DSCR: 2.40
• 1% rule: 1.80%
• Cash to close: $26,600

Investor read

• This is a 3-bed/1.0-bath manufactured listed at $95k. Condition is rated average.
• At list price, monthly cash flow is $696 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• It's been on market 17 days — a 2% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $94k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $657 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• 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: Fullerton Magnet Center (math 37% / reading 47%, grade F, #319 of 502 statewide, top 68%, 458 students, 0% FRL); Alice Buffett Magnet Middle School (math 37% / reading 46%, grade F, #80 of 128 statewide, top 63%, 1,124 students, 0% FRL); Westview High School (743 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.
• Zoned-school proficiency averages 42% at this address vs 24% district-wide (+18 pts) — the actual schools serving this property are materially stronger than the Omaha Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+7.4%/yr); 115 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 4,539 units permitted in Douglas County in 2024 (2,583 in 5+ unit buildings).
• Douglas County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 7.4% rent growth), your $27k cash investment doubles in ~4 years — after that, you're playing with house money.
• Cap rate 15.1% 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.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Kitchen counters — Cluttered with items
• Minor: Bathroom counters — Cluttered with items
• Minor: Landscaping — Some areas could benefit from trimming and maintenance