4201 Grand Ave · Omaha, NE 68111

$180,000

3 bd · 2.0 ba · 1,736 sqft · Other public records · 26 Days on market

Built 1930 6,552 sqft lot

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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 +19.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.0/10.0
• 1% rule +4.5/10.0
• 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

Rare and unique investment opportunity on a corner lot with endless potential! This property includes a conversion style duplex plus a 1,160 sq ft brick retail building next door. The upper unit with just some finishing touches is move-in ready featuring 2 bedrooms, 1 full bath, kitchen, living room, dining room, and its own laundry. The main floor of the home has been taken down to the studs, offering a blank canvas to design your own custom floor plan, with additional access to the lower level ready for finishing. The opportunities continue with the brick retail building, currently used as a church, featuring an open main level and additional usable space below. Perfect opportunity to live in one unit, rent the other, and operate your own business, or maximize cash flow by renting all three spaces. Endless possibilities for investors, entrepreneurs, or owner-occupants looking for income-producing potential! Properties are being sold AS IS and priced accordingly.

Key facts

• Move-in ready
• Open main level
• Usable space

Tags

• CORNER LOT
• CONVERSION STYLE DUPLEX
• BRICK RETAIL BUILDING
• MOVE-IN READY
• OPEN MAIN LEVEL
• USABLE SPACE

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Residential duplex; One and one-half story; Property attached; Built in 1930
• Construction: Block foundation; Composition roof
• Exterior features: Corner lot; Lot up to 1/4 acre; Chain link, partial, and wood fencing; Separate entrance; Lot dimensions approximately 72 x 91

Interior

• Kitchen: Kitchen located on 2nd floor
• Bedrooms: Master bedroom on 2nd floor; Additional bedrooms located on 2nd floor
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas forced-air heating; Central air conditioning plus window unit(s)
• Interior features: Unfinished basement with separate entrance; No fireplaces
• Laundry & utility: Basement area available (768 below-grade area)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $180k.

Deal economics

• At list price, monthly cash flow is $187 ($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 $170k (5.4% below list).
• Recommended offer: $170k (5.4% below list) — sets the bar for 1% rule.
• Cap rate 7.5% 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: Central Park Elementary School (math 12% / reading 17%, grade F, #484 of 502 statewide, top 97%, 359 students, 0% FRL); Monroe Middle School (math 8% / reading 15%, grade F, #127 of 128 statewide, top 99%, 769 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: Rents rising (+3.2%/yr); 139 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 4,539 units permitted in Douglas County in 2024 (2,583 in 5+ unit buildings).

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 26 days — a 2% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 13y 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 $14k; list at $180k implies a 1186% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $170,312 (5.4% below list)

Questions for the listing agent

1. Built in 1930 — 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: 0.95% ✗
• Cap rate: 7.54%
• Cash-on-cash: 4.45%
• DSCR: 1.20
• GRM: 8.8

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: 27.6%
• Equity multiple: 3.19×
• Total profit: $110,288
• Equity at exit: $162,158

10-year hold

• IRR: 24.1%
• Equity multiple: 7.27×
• Total profit: $316,138
• Equity at exit: $349,700

Cash invested: $50,400 (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 68111

• Home prices YoY: 4.0%
• Rents YoY: 3.2%
• Active inventory: 139
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,703 high
• Mortgage (P&I): −$944
• Tax from tax record: −$140 /mo · $1,675/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$358
• Net cashflow: $187

Break-even live

Break-even rent $1,467

Max offer price $180,000

Occupancy floor 84%

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4240 Fowler Ave Omaha, NE	4.0	2.0	1956	$1,895	$0.97	24d	1	0.13mi
4707 N 40th Ave Omaha, NE	3.0	1.0	1337	$1,500	$1.12	21d	1	0.17mi
4657 Camden Ave Omaha, NE	3.0	1.0	1250	$1,500	$1.20	44d	1	0.51mi
4918 Ames Ave Unit 17 Omaha, NE	2.0	1.5	1074	$850	$0.79	24d	1	0.66mi
3808 N 48th St Omaha, NE	3.0	2.0	1400	$2,000	$1.43	3d	1	0.82mi
3535 N 45th Ave Omaha, NE	3.0	1.0	1325	$1,800	$1.36	44d	1	0.83mi
3901 Curtis Ave Omaha, NE	2.0	2.5	1745	$1,850	$1.06	3d	1	0.90mi
4655 Curtis Ave Omaha, NE	3.0	2.0	2000	$1,900	$0.95	44d	1	0.94mi
3508 N 47th Ave Omaha, NE	3.0	1.0	1425	$1,600	$1.12	19d	1	0.96mi
4026 Bauman Ave Omaha, NE	4.0	1.0	1350	$1,695	$1.26	44d	1	1.07mi
4114 N 54th St Omaha, NE	3.0	2.0	1683	$1,745	$1.04	3d	1	1.21mi
4276 Binney St Omaha, NE	4.0	1.0	1358	$1,495	$1.10	44d	1	1.21mi
6124 N 30th St Unit STREET2 Omaha, NE	2.0	1.0	1190	$1,075	$0.90	44d	1	1.29mi
3002 N 48th Ave Omaha, NE	4.0	2.0	1205	$1,550	$1.29	24d	1	1.30mi
2873 Kansas Ave Omaha, NE	3.0	2.0	1112	$1,450	$1.30	24d	1	1.31mi
4874 Maple St Omaha, NE	3.0	1.0	1098	$1,545	$1.41	44d	1	1.37mi
2914 N 49th Ave Omaha, NE	3.0	1.0	1375	$1,615	$1.17	24d	1	1.39mi
2416 Fowler Ave Omaha, NE	4.0	2.0	2169	$1,950	$0.90	14d	1	1.45mi
5348 N 25th St Omaha, NE	4.0	1.0	1446	$1,600	$1.11	44d	1	1.48mi

Listing history 19 events

1. 2026-06-18
   days on market $180,000 Active 26 DOM
2. 2026-06-17
   days on market $180,000 Active 25 DOM
3. 2026-06-16
   days on market $180,000 Active 24 DOM
4. 2026-06-15
   days on market $180,000 Active 23 DOM
5. 2026-06-13
   days on market $180,000 Active 21 DOM
6. 2026-06-10
   days on market $180,000 Active 18 DOM
7. 2026-06-09
   days on market $180,000 Active 17 DOM
8. 2026-06-08
   days on market $180,000 Active 16 DOM
9. 2026-06-07
   days on market $180,000 Active 15 DOM
10. 2026-06-03
    days on market $180,000 Active 11 DOM
11. 2026-06-03
    days on market $180,000 Active 10 DOM
12. 2026-06-01
    days on market $180,000 Active 9 DOM
13. 2026-06-01
    days on market $180,000 Active 8 DOM
14. 2026-05-23
    listed $180,000 New

    Show marketing remark (978 chars)

    Rare and unique investment opportunity on a corner lot with endless potential! This property includes a conversion style duplex plus a 1,160 sq ft brick retail building next door. The upper unit with just some finishing touches is move-in ready featuring 2 bedrooms, 1 full bath, kitchen, living room, dining room, and its own laundry. The main floor of the home has been taken down to the studs, offering a blank canvas to design your own custom floor plan, with additional access to the lower level ready for finishing. The opportunities continue with the brick retail building, currently used as a church, featuring an open main level and additional usable space below. Perfect opportunity to live in one unit, rent the other, and operate your own business, or maximize cash flow by renting all three spaces. Endless possibilities for investors, entrepreneurs, or owner-occupants looking for income-producing potential! Properties are being sold AS IS and priced accordingly.

15. 2026-05-23
    listed $180,000 New 978-char remark

    Show marketing remark (978 chars)

    Rare and unique investment opportunity on a corner lot with endless potential! This property includes a conversion style duplex plus a 1,160 sq ft brick retail building next door. The upper unit with just some finishing touches is move-in ready featuring 2 bedrooms, 1 full bath, kitchen, living room, dining room, and its own laundry. The main floor of the home has been taken down to the studs, offering a blank canvas to design your own custom floor plan, with additional access to the lower level ready for finishing. The opportunities continue with the brick retail building, currently used as a church, featuring an open main level and additional usable space below. Perfect opportunity to live in one unit, rent the other, and operate your own business, or maximize cash flow by renting all three spaces. Endless possibilities for investors, entrepreneurs, or owner-occupants looking for income-producing potential! Properties are being sold AS IS and priced accordingly.

16. 2014-01-29
    soldstatus $14,000
17. 2014-01-10
    soldstatus $14,000 445-char remark

    Show marketing remark (445 chars)

    Expect GREAT return from your investment! 2400 sqft commercial building included! Corner lot with great store front! Home has been turned into a multi unit house bringing in $700/mo. One tenant of 17 years wants to stay! commercial building has bathroom on the main and LOTS of potential. House has 2nd story entry with tenant upstairs and main floor connects to basement with separate kitchen & walkout. Fully fenced and off street parking.

18. 2014-01-04
    historical 445-char remark

    Show marketing remark (445 chars)

    Expect GREAT return from your investment! 2400 sqft commercial building included! Corner lot with great store front! Home has been turned into a multi unit house bringing in $700/mo. One tenant of 17 years wants to stay! commercial building has bathroom on the main and LOTS of potential. House has 2nd story entry with tenant upstairs and main floor connects to basement with separate kitchen & walkout. Fully fenced and off street parking.

19. 2013-12-19
    listed $25,000 445-char remark

    Show marketing remark (445 chars)

    Expect GREAT return from your investment! 2400 sqft commercial building included! Corner lot with great store front! Home has been turned into a multi unit house bringing in $700/mo. One tenant of 17 years wants to stay! commercial building has bathroom on the main and LOTS of potential. House has 2nd story entry with tenant upstairs and main floor connects to basement with separate kitchen & walkout. Fully fenced and off street parking.

ⓘ 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: $1,675 · $140/mo
• Projected year-2 tax: $3,114 · $260/mo
• Expected delta: +$1,439/yr (+$120/mo · 85.9%)

ⓘ 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 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,437
• − Mortgage interest: −$10,083
• − Property taxes: −$1,675
• − Insurance: −$900
• − Repairs & maintenance: −$1,635
• − Management: −$1,635
• − Depreciation: −$5,236
• Taxable loss: −$727
• Est. tax savings @ 24.0%: +$175
• After-tax cash flow: $2,417/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

+620.0% since first listed

6 events — show timeline

• 2026-05-23 Listed $180,000 GPRMLS
• 2026-05-23 Listed $180,000 GPRMLS
• 2014-01-29 Sold (Public Records) $14,000 Public Records
• 2014-01-10 Sold (MLS) $14,000 GPRMLS
• 2014-01-04 Listing Removed — GPRMLS
• 2013-12-19 Listed $25,000 GPRMLS

Property tax history

+5.8%/yr

Latest (2025): $1,675 · +23.2% YoY. Source: county tax records.