3117 Corby St · Omaha, NE 68111

$115,000

5 bd · 1.0 ba · 1,456 sqft · Other public records · 12 Days on market

Built 1910 6,098 sqft lot

---

Why this score? — see what drove the B+ 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 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

Nicely updated, pre-inspected, investment or move-in ready home. 5 bedrooms and zoned heating and cooling with one-car detached garage close to 75 North/highlander redevelopment, Walgreens and school. Stone's throw from Creighton and Midtown development. Cute place on the hill!

Key facts

• 6,098 sq ft lot
• Garage
• Built 1910

Property features AI

Exterior

• Parking: Detached garage (1 covered space, total 1 parking space)
• Utilities: Public water; Public sewer; Electricity available on property; Natural gas available; Phone available; Cable available
• Home design: Single-family residence; One-and-a-half story; Not new / not a model; Facing direction not specified
• Construction: Wood siding; Composition roof; Block foundation; Built in 1910
• Exterior features: Partial fencing; City lot (up to 1/4 acre); Lot dimensions approx. 120 x 50

Interior

• Kitchen: Range; Refrigerator; Microwave
• Bedrooms: Master bedroom on main floor; Bedroom 2 on main floor; Bedrooms 3–5 on second floor
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Natural gas forced-air heating; Central air conditioning; Window AC unit(s)
• Interior features: No basement; Range; Refrigerator; Microwave

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath other listed at $115k.

Deal economics

• At list price, monthly cash flow is $540 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Cap rate 11.9% 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: Kennedy Elementary School (math 17% / reading 17%, grade F, #471 of 502 statewide, top 95%, 234 students, 0% FRL); Monroe Middle School (math 8% / reading 15%, grade F, #127 of 128 statewide, top 99%, 769 students, 0% FRL); Benson High School (math 9% / reading 12%, grade F, #257 of 261 statewide, top 98%, 1,570 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; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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).
• At $1,742/mo this rent would consume 50% 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 $12k of equity ($795 loan paydown + $12k 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 $32k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 26y 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 $93k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $115,000

Questions for the listing agent

1. Built in 1910 — 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: 1.51% ✓
• Cap rate: 11.92%
• Cash-on-cash: 20.11%
• DSCR: 1.89
• GRM: 5.5

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: 39.4%
• Equity multiple: 4.03×
• Total profit: $97,443
• Equity at exit: $103,601

10-year hold

• IRR: 34.1%
• Equity multiple: 9.10×
• Total profit: $260,817
• Equity at exit: $223,420

Cash invested: $32,200 (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 68111

• Home prices YoY: 4.0%
• Rents YoY: 3.2%
• Active inventory: 139
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,742 high
• Mortgage (P&I): −$603
• Tax from tax record: −$186 /mo · $2,227/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$366
• Net cashflow: $540

Break-even live

Break-even rent $1,059

Max offer price $115,000

Occupancy floor 64%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3314 Franklin St Omaha, NE	4.0	2.0	1635	$1,600	$0.98	44d	1	0.66mi
1820 Miami St Omaha, NE	4.0	1.5	1306	$1,050	$0.80	44d	1	0.97mi
4276 Binney St Omaha, NE	4.0	1.0	1358	$1,495	$1.10	44d	1	1.00mi
1120 N 20th St Unit 309 Omaha, NE	4.0	2.0	1179	$1,550	$1.31	24d	1	1.22mi
2929 California St Omaha, NE	1.0–4.0	1.0–3.0	1280	$3,340	$2.61	3d	118	1.32mi
3002 N 48th Ave Omaha, NE	4.0	2.0	1205	$1,550	$1.29	24d	1	1.46mi

Listing history 20 events

1. 2026-06-10
   days on market $115,000 Active 12 DOM
2. 2026-06-09
   days on market $115,000 Active 11 DOM
3. 2026-06-08
   days on market $115,000 Active 10 DOM
4. 2026-06-07
   days on market $115,000 Active 9 DOM
5. 2026-06-03
   statusdays on market $115,000 Active 5 DOM
6. 2026-06-03
   days on market $115,000 New 4 DOM
7. 2026-06-01
   days on market $115,000 New 3 DOM
8. 2026-06-01
   days on market $115,000 New 2 DOM
9. 2026-04-17
   listed $130,000 New 346-char remark
10. 2019-04-11
    soldstatus $48,500 Sold 280-char remark

    Show marketing remark (280 chars)

    Nicely updated, pre-inspected, investment or move-in ready home. 5 bedrooms and zoned heating and cooling with one-car detached garage close to 75 North/highlander redevelopment, Walgreens and school. Stone's throw from Creighton and Midtown development. Cute place on the hill!

11. 2019-04-01
    status Pending 280-char remark

    Show marketing remark (280 chars)

    Nicely updated, pre-inspected, investment or move-in ready home. 5 bedrooms and zoned heating and cooling with one-car detached garage close to 75 North/highlander redevelopment, Walgreens and school. Stone's throw from Creighton and Midtown development. Cute place on the hill!

12. 2019-03-21
    listed $45,000 Active - New 280-char remark

    Show marketing remark (280 chars)

    Nicely updated, pre-inspected, investment or move-in ready home. 5 bedrooms and zoned heating and cooling with one-car detached garage close to 75 North/highlander redevelopment, Walgreens and school. Stone's throw from Creighton and Midtown development. Cute place on the hill!

13. 2005-06-28
    soldstatus $43,000
14. 2005-06-27
    soldstatus $43,000
15. 2005-05-20
    historical
16. 2005-02-08
    listed $54,950
17. 2000-02-15
    soldstatus $20,000
18. 2000-02-15
    soldstatus $20,000
19. 2000-01-31
    historical
20. 2000-01-25
    listed $22,900

ⓘ 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: $2,227 · $186/mo
• Projected year-2 tax: $2,227 · $186/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥105°F today · 14 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: $20,905
• − Mortgage interest: −$6,442
• − Property taxes: −$2,227
• − Insurance: −$575
• − Repairs & maintenance: −$1,672
• − Management: −$1,672
• − Depreciation: −$3,345
• Taxable income: $4,971
• Est. tax owed @ 24.0%: −$1,193
• After-tax cash flow: $5,283/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

+306.1% since first listed

15 events — show timeline

• 2026-06-09 Sold (MLS) $93,000 GPRMLS
• 2026-05-29 Listing Removed — GPRMLS
• 2026-05-28 Listed $115,000 GPRMLS
• 2026-04-17 Listed $130,000 GPRMLS
• 2019-04-11 Sold (MLS) $48,500 GPRMLS
• 2019-04-01 Pending — GPRMLS
• 2019-03-21 Listed $45,000 GPRMLS
• 2005-06-28 Sold (Public Records) $43,000 Public Records
• 2005-06-27 Sold (MLS) $43,000 GPRMLS
• 2005-05-20 Listing Removed — GPRMLS
• 2005-02-08 Listed $54,950 GPRMLS
• 2000-02-15 Sold (Public Records) $20,000 Public Records
• 2000-02-15 Sold (MLS) $20,000 GPRMLS
• 2000-01-31 Listing Removed — GPRMLS
• 2000-01-25 Listed $22,900 GPRMLS

Property tax history

+6.9%/yr

Latest (2025): $2,227 · -2.7% YoY. Source: county tax records.