1408 N 59th St · Lincoln, NE 68505

$129,000

2 bd · 1.0 ba · 825 sqft · SingleFamily public records · 6 Days on market

Built 1960 7,841 sqft lot $156/sqft · 27% below area Est $177k · 27% under ↓ 16% since listing

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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 +15.6/30.0
• ARV discount +15.0/15.0
• DSCR +4.8/10.0
• Schools +4.4/10.0
• 1% rule +4.2/10.0
• Livability +4.2/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 1408 N 59th. This charming, 2 bedroom, 1 bath house with no basement is located in a desirable neighborhood and is move in ready. This home is perfect for a first time home buyer or an investor looking to grow their portfolio. Don't miss your opportunity to check out this one today. This property is tenant occupied, please do not show up without an appointment.

Key facts

• 7,841 sq ft lot
• Built 1960
• Listed 6 days

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property; Built in 1960; 825 above-grade finished square feet
• Construction: Slab foundation
• Exterior features: Lot up to 1/4 acre (approximately 0.18 acre); Lot dimensions about 132 x 50; Lot included in price

Interior

• Bedrooms: Master bedroom on the main floor; Second bedroom on the main floor
• Bathrooms: One full bathroom on the main floor
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: No fireplaces; No basement

🏷️ Possibly a rental listed for sale. The $129,000 price doesn't fit this home's estimated sale value (~$177,043) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $129k.

Deal economics

• At list price, monthly cash flow is $55 ($656/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 $118k (8.1% below list).
• Recommended offer: $118k (8.1% below list) — sets the bar for 1% rule.
• Cap rate 6.8% 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: Meadow Lane Elementary School (math 39% / reading 51%, grade D-, #287 of 502 statewide, top 57%, 509 students, 55% FRL); Culler Middle School (math 30% / reading 33%, grade F, #109 of 128 statewide, top 85%, 703 students, 74% FRL); Lincoln Northeast High School (math 34% / reading 36%, grade F, #207 of 261 statewide, top 79%, 1,812 students, 62% FRL) — zoned schools average 64% FRL vs 37% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 37% at this address vs 52% district-wide (-14 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 (+3.8%/yr); 78 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $892 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 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 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.

Recommended offer $118,491 (8.1% below list)

Questions for the listing agent

1. Built in 1960 — 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: 0.92% ✗
• Cap rate: 6.80%
• Cash-on-cash: 1.82%
• DSCR: 1.08
• GRM: 9.1

CMA / ARV

• ARV (median comp): $177,043
• List price: $129,000
• Delta: -21.49%
• 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
1408 N 59th St	0.00mi	2/1.0	825 (0%)	0mo	$129,000	$156	100
1301 N 55th St	0.31mi	2/1.0	825 (0%)	3mo	$145,000	$176	83
1231 N 55th St	0.31mi	2/1.0	825 (0%)	3mo	$145,000	$176	83
1331 N 54th St	0.36mi	2/1.0	825 (0%)	2mo	$170,000	$206	82
1311 N 54th St	0.36mi	2/1.0	825 (0%)	3mo	$145,000	$176	81
1231 N 54th St	0.36mi	2/1.0	825 (0%)	3mo	$145,000	$176	80
5122 Martin St	0.55mi	3/1.0 (+1)	840 (+2%)	2mo	$179,000	$213	65
803 El Avado Ave	0.64mi	2/1.5	816 (-1%)	3mo	$252,000	$309	64
1411 N 53rd St	0.41mi	2/1.0	720 (-13%)	2mo	$159,900	$222	58
1330 N 64th St	0.36mi	2/1.5	702 (-15%)	4mo	$215,000	$306	53
2036 N 63 St	0.49mi	3/1.0 (+1)	740 (-10%)	4mo	$193,000	$261	52
5920 Huntington Ave	0.72mi	3/1.0 (+1)	872 (+6%)	1mo	$169,000	$194	51

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 · 3.81% rent growth · sell at horizon

5-year hold

• IRR: -12.5%
• Equity multiple: 0.54×
• Total profit: $-16,438
• Equity at exit: $19,234

10-year hold

• IRR: -2.3%
• Equity multiple: 0.84×
• Total profit: $-5,724
• Equity at exit: $11,154

Cash invested: $36,120 (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 68505

• Rents YoY: 3.8%
• Active inventory: 78
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,185 high
• Mortgage (P&I): −$676
• Tax from tax record: −$151 /mo · $1,814/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$249
• Net cashflow: $55

Break-even live

Break-even rent $1,116

Max offer price $129,000

Occupancy floor 90%

Sensitivity live

Price	-10% $128	-5% $91	+0% $55	+5% $18	+10% $-18
Rent	-10% $-39	-5% $8	+0% $55	+5% $101	+10% $148
Rate	-1.0pp $120	-0.5pp $87	base $55	+0.5pp $21	+1.0pp $-13

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1025 N 63rd St Lincoln, NE	1.0–3.0	1.0–2.0	1157	$1,278	$1.10	14d	7	0.16mi
825 N Cotner Blvd Lincoln, NE	2.0	1.0	900	$1,335	$1.48	21d	2	0.45mi
6501 Vine St Unit 073* Lincoln, NE	2.0	1.5	830	$975	$1.17	21d	1	0.62mi
6501 Vine St Unit 068* Lincoln, NE	1.0	1.0	567	$845	$1.49	21d	1	0.62mi
6511 Vine St Unit 149* Lincoln, NE	2.0	1.5	897	$1,050	$1.17	21d	1	0.63mi
4910 Dudley St Unit 2 Lincoln, NE	3.0	2.0	1073	$1,250	$1.16	21d	1	0.65mi
411 N 57th St #8 Lincoln, NE	1.0	1.0	672	$775	$1.15	14d	1	0.67mi
5101 Vine St Lincoln, NE	1.0–2.0	1.0–2.0	886	$1,370	$1.55	14d	18	0.68mi
4800 Holdrege St Lincoln, NE	2.0	1.0–2.0	806	$1,625	$2.01	14d	88	0.71mi
5137 Walker Ave Unit 6 Lincoln, NE	1.0	1.0	570	$799	$1.40	21d	1	0.78mi
2332 N Cotner Blvd Unit 10 Lincoln, NE	1.0	1.0	700	$720	$1.03	21d	1	0.80mi
4650 Orchard St Lincoln, NE	1.0–2.0	1.0	742	$825	$1.11	44d	1	0.81mi
225 N Cotner Blvd Lincoln, NE	2.0	1.0–2.0	791	$1,895	$2.39	14d	25	0.83mi
4529 Holdrege St Lincoln, NE	3.0	2.0	1100	$1,250	$1.14	44d	1	0.88mi
2405 N 50th St Apt 4 Lincoln, NE	2.0	1.0	740	$850	$1.15	14d	1	0.89mi
1340 N 44th St Unit 1340-09 Lincoln, NE	1.0	1.0	701	$725	$1.03	44d	1	0.95mi
4630 Leighton Ave Lincoln, NE	2.0	1.0–2.0	781	$2,141	$2.74	14d	21	1.01mi
2740 N 49th St Unit 5 Lincoln, NE	1.0	1.0	690	$900	$1.30	21d	1	1.10mi
4125 Holdrege St #1 Lincoln, NE	1.0	1.0	850	$1,450	$1.71	44d	1	1.12mi
2344 N 44th St Unit 20 Lincoln, NE	1.0	1.0	900	$930	$1.03	21d	1	1.12mi
5050 Cleveland Ave Unit 3 Lincoln, NE	1.0	1.0	600	$899	$1.50	21d	1	1.13mi
2601 N 47th St Unit 3 Lincoln, NE	1.0	1.0	550	$800	$1.45	44d	1	1.13mi
2742 N 48th St Unit 03 Lincoln, NE	2.0	1.0	769	$895	$1.16	44d	1	1.15mi
2354 N 44th St Unit 22 Lincoln, NE	1.0	1.0	915	$930	$1.02	21d	1	1.15mi
2334 N 44th St Unit 19 Lincoln, NE	2.0	2.0	1035	$1,075	$1.04	21d	1	1.16mi
2701 N 70th St Lincoln, NE	1.0–2.0	1.0–1.5	886	$960	$1.08	14d	1	1.17mi
4411 Baldwin Ave Lincoln, NE	3.0	1.0	764	$1,600	$2.09	21d	1	1.24mi
1741 Ridgehaven Ct Unit CT-5 Lincoln, NE	1.0	1.0	654	$950	$1.45	21d	1	1.26mi
301 N 44th St Lincoln, NE	1.0–2.0	1.0–2.0	870	$1,310	$1.50	14d	17	1.26mi
267 W Rio Rd Lincoln, NE	3.0	1.0	1008	$1,710	$1.70	44d	1	1.28mi
314 S 47th St Lincoln, NE	2.0	1.0	910	$1,125	$1.24	14d	1	1.34mi
323 S 47th St Lincoln, NE	2.0	1.0	648	$950	$1.47	14d	1	1.35mi
3829 W St Lincoln, NE	1.0	1.0	669	$1,285	$1.92	21d	1	1.36mi
368 S 47th St Lincoln, NE	2.0	1.0	768	$1,300	$1.69	14d	1	1.39mi
2635 N 42nd St Apt 2 Lincoln, NE	2.0	1.0	700	$900	$1.29	44d	1	1.41mi
2635 N 42nd St Apt 3 Lincoln, NE	2.0	1.0	700	$900	$1.29	14d	1	1.41mi
3202 N 48th St Unit 2 Lincoln, NE	2.0	1.0	950	$1,050	$1.11	21d	1	1.41mi

Listing history 12 events

1. 2026-06-05
   statusdays on market $129,000 Pending 6 DOM
2. 2026-06-03
   statusdays on market $129,000 Active 5 DOM
3. 2026-06-02
   days on market $129,000 New 4 DOM
4. 2026-06-01
   days on market $129,000 New 3 DOM
5. 2026-05-31
   days on market $129,000 New 2 DOM
6. 2026-05-30
   pricestatusdays on marketlisting id $129,000 New 1 DOM
7. 2026-05-14
   status Pending 376-char remark
8. 2026-04-12
   listed $139,000 New 376-char remark
9. 2026-04-12
   historical
10. 2026-03-05
    listed $143,000 New
11. 2026-03-05
    historical
12. 2026-01-19
    listed $153,000 New

ⓘ 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: $1,814 · $151/mo
• Projected year-2 tax: $2,232 · $186/mo
• Expected delta: +$417/yr (+$35/mo · 23.0%)

ⓘ 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 · 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: $14,219
• − Mortgage interest: −$7,226
• − Property taxes: −$1,814
• − Insurance: −$645
• − Repairs & maintenance: −$1,138
• − Management: −$1,138
• − Depreciation: −$3,753
• Taxable loss: −$1,494
• Est. tax savings @ 24.0%: +$359
• After-tax cash flow: $1,014/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): 18,834
• Household income: $75,980
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 436.0

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 7% Hispanic / Latino 6% Asian 4% Black 3% Native American 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 2% Lithuanian 2% Iranian 1%
• Foreign-born: 7% · Canada, Vietnam, China
• Languages at home: 89% English-only · Spanish 3% Arabic 2% Vietnamese 2%

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: ▼ -160.23%
• Current HPI: 246.1127
• Rent YoY: ▲ 3.81%
• 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

-15.7% since first listed

11 events — show timeline

• 2026-06-15 Sold (MLS) $129,000 GPRMLS
• 2026-06-04 Pending — GPRMLS
• 2026-05-29 Listing Removed — GPRMLS
• 2026-05-29 Listed $129,000 GPRMLS
• 2026-05-22 Relisted — GPRMLS
• 2026-05-14 Pending — GPRMLS
• 2026-04-12 Listing Removed — GPRMLS
• 2026-04-12 Listed $139,000 GPRMLS
• 2026-03-05 Listing Removed — GPRMLS
• 2026-03-05 Listed $143,000 GPRMLS
• 2026-01-19 Listed $153,000 GPRMLS

Property tax history

+3.1%/yr

Latest (2025): $1,814 · -5.6% YoY. Source: county tax records.