650 S 55 St · Lincoln, NE 68510

$240,000

3 bd · 1.5 ba · 1,925 sqft · SingleFamily public records · 2 Days on market

Built 1975 8,179 sqft lot $125/sqft · 9% below area Est $274k · 12% under

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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).

• ARV discount +13.0/15.0
• Cash flow +11.5/30.0
• Schools +4.4/10.0
• Livability +4.2/5.0
• DSCR +3.4/10.0
• 1% rule +3.0/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This 4 bedroom, 2 bathroom home with nearly 2,000 square feet is located in the heart of Lincoln. Numerous recent repairs and upgrades make this home move-in ready. The exterior (and many rooms) have been freshly painted. This home is larger than it looks. Head inside to a large living room, a functional kitchen, and 3 bedrooms on the main floor. Head downstairs to the fully finished basement with a large rec room, laundry room, and a 4th bedroom. There’s also an updated bathroom with a large walk-in shower. The attached one car garage has a new epoxy floor, newer insulated garage door, and a smart opener with camera. Finally, head outside and enjoy the large fenced backyard and patio

Key facts

• Large rec room
• New epoxy floor
• Updated bathroom

Tags

• FULLY FINISHED BASEMENT
• LARGE REC ROOM
• UPDATED BATHROOM
• LARGE WALK-IN SHOWER
• NEW EPOXY FLOOR
• NEWER INSULATED GARAGE DOOR

Property features AI

Exterior

• Parking: Attached garage with one covered space and garage door opener; One parking space total
• Utilities: Public water; Public sewer; Electricity available; Natural gas available
• Home design: Single-family residence; Residential property; Not new (built in 1975)
• Construction: Wood siding; Composition roof; Concrete perimeter foundation; Built in 1975; Approximately 1,986 total building area with about 1,025 above grade and 961 below grade finished
• Exterior features: Porch; Patio; Full wood fencing; Public sidewalk

Interior

• Kitchen: Range; Refrigerator; Dishwasher; Dining area
• Bedrooms: Main floor primary bedroom with ceiling fan; Main floor additional bedrooms with ceiling fans; Basement bedroom with egress window
• Flooring: Luxury vinyl plank; Ceramic tile
• Bathrooms: Two bathrooms total — one full and one three-quarter; one on the main level and one below grade
• Heating & cooling: Natural gas forced-air heat; Central air conditioning
• Interior features: Ceiling fans; Daylight and egress basement, partially finished; Window coverings
• Laundry & utility: Laundry area with luxury vinyl plank flooring; Humidifier

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $-78 ($-936/yr) — negative.
• To cash-flow at today's rent, offer at most $226k (5.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $193k (19.7% below list).
• Recommended offer: $193k (19.7% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 3.0% 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: Eastridge Elementary School (math 52% / reading 57%, grade C, #161 of 502 statewide, top 38%, 282 students, 36% FRL); Lefler Middle School (math 46% / reading 45%, grade D+, #63 of 128 statewide, top 50%, 613 students, 61% FRL); Lincoln East High School (math 58% / reading 60%, grade C+, #69 of 261 statewide, top 26%, 2,268 students, 21% FRL) — zoned schools at 39% FRL track the district average.
• Market conditions: Rents rising (+1.8%/yr); 124 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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).
• This rent runs 35% of the median local income ($66k/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.
• Lancaster County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $192,729 (19.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1975 — 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. 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?
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.80% ✗
• Cap rate: 5.90%
• Cash-on-cash: -1.39%
• DSCR: 0.94
• GRM: 10.4

CMA / ARV

• ARV (median comp): $273,573
• List price: $240,000
• Delta: -12.27%
• 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
650 S 55 St	0.00mi	4/2.0 (+1)	1,986 (+3%)	1mo	$247,000	$124	87
728 Eastridge Dr	0.18mi	3/2.0	1,864 (-3%)	2mo	$343,000	$184	83
700 S 50th St	0.31mi	4/2.0 (+1)	1,875 (-3%)	0mo	$271,000	$145	74
917 Ferndale Rd	0.33mi	3/3.0	1,975 (+3%)	1mo	$334,000	$169	74
5843 Randolph St	0.26mi	4/2.0 (+1)	2,043 (+6%)	1mo	$310,000	$152	70
6120 Randolph St	0.43mi	3/2.0	2,020 (+5%)	0mo	$297,500	$147	70
5110 J St	0.26mi	3/2.0	2,156 (+12%)	1mo	$325,000	$151	65
5316 M St	0.35mi	3/3.0	2,037 (+6%)	4mo	$325,000	$160	65
933 Moraine Dr	0.28mi	4/2.5 (+1)	2,112 (+10%)	2mo	$279,000	$132	60
1127 Mulder Dr	0.60mi	3/2.0	2,136 (+11%)	3mo	$358,000	$168	49
815 S 44th St	0.72mi	2/2.0 (-1)	1,833 (-5%)	3mo	$224,000	$122	49
930 Evergreen Dr	0.67mi	3/3.0	2,197 (+14%)	2mo	$421,000	$192	37

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 · 1.78% rent growth · sell at horizon

5-year hold

• IRR: -19.9%
• Equity multiple: 0.31×
• Total profit: $-46,204
• Equity at exit: $35,785

10-year hold

• IRR: -15.6%
• Equity multiple: 0.17×
• Total profit: $-56,018
• Equity at exit: $20,751

Cash invested: $67,200 (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 68510

• Rents YoY: 1.8%
• Active inventory: 124
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,927 high
• Mortgage (P&I): −$1,259
• Tax from tax record: −$242 /mo · $2,904/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$405
• Net cashflow: $-78

Break-even live

Break-even rent $2,026

Max offer price $226,217

Occupancy floor 99%

Sensitivity live

Price	-10% $58	-5% $-10	+0% $-78	+5% $-146	+10% $-214
Rent	-10% $-230	-5% $-154	+0% $-78	+5% $-2	+10% $74
Rate	-1.0pp $43	-0.5pp $-17	base $-78	+0.5pp $-140	+1.0pp $-203

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5505 Sumner St Lincoln, NE	3.0	2.0	1600	$1,950	$1.22	23d	1	0.82mi
1042 Rockhurst Dr Lincoln, NE	3.0	2.5	1688	$2,495	$1.48	45d	1	0.87mi
5101 Vine St Lincoln, NE	1.0–2.0	1.0–2.0	886	$1,370	$1.55	15d	18	0.97mi
1025 N 63rd St Lincoln, NE	1.0–3.0	1.0–2.0	1157	$1,590	$1.37	15d	7	1.26mi
3548 R St Unit A Lincoln, NE	4.0	3.5	1328	$2,550	$1.92	45d	1	1.46mi

Listing history 4 events

1. 2026-05-03
   status Pending 837-char remark
2. 2026-05-01
   listed $240,000 New 837-char remark
3. 2007-04-04
   soldstatus $104,000
4. 2007-04-04
   soldstatus $104,000

ⓘ 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: $2,904 · $242/mo
• Projected year-2 tax: $4,152 · $346/mo
• Expected delta: +$1,248/yr (+$104/mo · 43.0%)

ⓘ 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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,127
• − Mortgage interest: −$13,444
• − Property taxes: −$2,904
• − Insurance: −$1,200
• − Repairs & maintenance: −$1,850
• − Management: −$1,850
• − Depreciation: −$6,982
• Taxable loss: −$5,102
• Est. tax savings @ 24.0%: +$1,225
• After-tax cash flow: $288/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): 19,391
• Household income: $65,951
• Rent vs Own: 41.7% rent · 58.3% own
• Severe rent burden: 622.0

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% Hispanic / Latino 7% Two or more races 6% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Arab 2% Romanian 2% Iranian 2%
• Foreign-born: 6% · Canada, Vietnam
• Languages at home: 92% English-only · Spanish 4% Other Indo-European 1% French/Haitian/Cajun 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: ▼ -152.27%
• Current HPI: 243.7469
• Rent YoY: ▲ 1.78%
• 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

+144.9% since first listed

5 events — show timeline

• 2026-05-29 Sold (Public Records) $254,684 Public Records
• 2026-05-29 Sold (MLS) $247,000 GPRMLS
• 2026-05-03 Pending — GPRMLS
• 2026-05-01 Listed $240,000 GPRMLS
• 2007-04-04 Sold (Public Records) $104,000 Public Records

Property tax history

+2.3%/yr

Latest (2025): $2,904 · +5.5% YoY. Source: county tax records.