1915 SW 12th · Lincoln, NE 68522

$61,900

2 bd · 1.0 ba · 728 sqft · Manufactured · 143 Days on market

Built 2024

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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
• ARV discount +7.5/15.0
• Schools +4.4/10.0
• Livability +4.2/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to Harbour West, where comfort, convenience, and community come together in one inviting place to call home. This cozy 2 bedroom, 1 bathroom home offers 728 square feet of thoughtfully designed living space with an open concept layout that feels bright and welcoming from the moment you enter. The living room flows naturally into the kitchen, creating a functional space that is ideal for both everyday living and hosting. The kitchen stands out with generous cabinet and counter space and comes fully equipped with a refrigerator, stove, dishwasher, and microwave, making this home truly move in ready. The primary bedroom provides a comfortable and private retreat, while the second bedroom is positioned on the opposite side of the home to offer additional privacy and flexibility. Located in the peaceful Harbour West community, residents enjoy amenities such as a swimming pool, playground, and walking trails, all designed to enhance your lifestyle. Schedule your private tour today and experience the charm and convenience of this home for yourself.

Key facts

• Built 2024
• Listed 143 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $62k.

Deal economics

• At list price, monthly cash flow is $637 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $62k).
• Recommended offer: $54k (12.0% below list) — sets the bar for market timing.
• Cap rate 18.6% 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.
• Market conditions: Rents rising (+2.4%/yr); 90 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 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 $428 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 2.4% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 143 days — a 12% lower offer ($54k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 30y 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 $62k implies a 359% gain — meaningful room to come down on a strong offer.

Recommended offer $54,472 (12.0% below list)

Questions for the listing agent

1. It's been on market 143 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
7. 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.
8. 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: 2.18% ✓
• Cap rate: 18.64%
• Cash-on-cash: 44.08%
• DSCR: 2.96
• GRM: 3.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.38% rent growth · sell at horizon

5-year hold

• IRR: 40.3%
• Equity multiple: 2.71×
• Total profit: $29,704
• Equity at exit: $9,229

10-year hold

• IRR: 46.3%
• Equity multiple: 5.31×
• Total profit: $74,776
• Equity at exit: $5,352

Cash invested: $17,332 (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 68522

• Home prices YoY: -31.6%
• Rents YoY: 2.4%
• Active inventory: 90
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,347 medium
• Mortgage (P&I): −$325
• Tax est. 1.5%: −$77 /mo · $928/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $637

Break-even live

Break-even rent $541

Max offer price $61,900

Occupancy floor 48%

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: $15,475
• Closing costs: $1,857
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1915 SW 12th St Unit 128 Lincoln, NE	2.0	1.0	728	$1,429	$1.96	43d	1	0.13mi
705 Folsom Ln Lincoln, NE	1.0–3.0	1.0–2.5	1173	$1,532	$1.31	13d	16	0.57mi
2960 S Coddington Ave Lincoln, NE	1.0–2.0	1.0	798	$1,419	$1.78	13d	10	0.72mi
760 W C St Lincoln, NE	1.0–3.0	1.0–2.0	1018	$1,224	$1.20	13d	8	0.80mi

Listing history 20 events

1. 2026-06-18
   days on market $61,900 Active 143 DOM
2. 2026-06-17
   days on market $61,900 Active 142 DOM
3. 2026-06-16
   days on market $61,900 Active 141 DOM
4. 2026-06-15
   days on market $61,900 Active 140 DOM
5. 2026-06-14
   pricedays on market $61,900 Active 138 DOM
6. 2026-06-10
   days on market $63,900 Active 135 DOM
7. 2026-06-09
   days on market $63,900 Active 134 DOM
8. 2026-06-08
   days on market $63,900 Active 133 DOM
9. 2026-06-07
   days on market $63,900 Active 132 DOM
10. 2026-06-05
    days on market $63,900 Active 129 DOM
11. 2026-06-03
    days on market $63,900 Active 128 DOM
12. 2026-06-02
    days on market $63,900 Active 127 DOM
13. 2026-05-31
    days on market $63,900 Active 125 DOM
14. 2026-05-30
    days on market $63,900 Active 124 DOM
15. 2026-02-12
    status Active 1065-char remark

    Show marketing remark (1065 chars)

    Welcome to Harbour West, where comfort, convenience, and community come together in one inviting place to call home. This cozy 2 bedroom, 1 bathroom home offers 728 square feet of thoughtfully designed living space with an open concept layout that feels bright and welcoming from the moment you enter. The living room flows naturally into the kitchen, creating a functional space that is ideal for both everyday living and hosting. The kitchen stands out with generous cabinet and counter space and comes fully equipped with a refrigerator, stove, dishwasher, and microwave, making this home truly move in ready. The primary bedroom provides a comfortable and private retreat, while the second bedroom is positioned on the opposite side of the home to offer additional privacy and flexibility. Located in the peaceful Harbour West community, residents enjoy amenities such as a swimming pool, playground, and walking trails, all designed to enhance your lifestyle. Schedule your private tour today and experience the charm and convenience of this home for yourself.

16. 2024-12-22
    historical 1065-char remark

    Show marketing remark (1065 chars)

    Welcome to Harbour West, where comfort, convenience, and community come together in one inviting place to call home. This cozy 2 bedroom, 1 bathroom home offers 728 square feet of thoughtfully designed living space with an open concept layout that feels bright and welcoming from the moment you enter. The living room flows naturally into the kitchen, creating a functional space that is ideal for both everyday living and hosting. The kitchen stands out with generous cabinet and counter space and comes fully equipped with a refrigerator, stove, dishwasher, and microwave, making this home truly move in ready. The primary bedroom provides a comfortable and private retreat, while the second bedroom is positioned on the opposite side of the home to offer additional privacy and flexibility. Located in the peaceful Harbour West community, residents enjoy amenities such as a swimming pool, playground, and walking trails, all designed to enhance your lifestyle. Schedule your private tour today and experience the charm and convenience of this home for yourself.

17. 2024-12-05
    listed $63,900 Active 1065-char remark

    Show marketing remark (1065 chars)

    Welcome to Harbour West, where comfort, convenience, and community come together in one inviting place to call home. This cozy 2 bedroom, 1 bathroom home offers 728 square feet of thoughtfully designed living space with an open concept layout that feels bright and welcoming from the moment you enter. The living room flows naturally into the kitchen, creating a functional space that is ideal for both everyday living and hosting. The kitchen stands out with generous cabinet and counter space and comes fully equipped with a refrigerator, stove, dishwasher, and microwave, making this home truly move in ready. The primary bedroom provides a comfortable and private retreat, while the second bedroom is positioned on the opposite side of the home to offer additional privacy and flexibility. Located in the peaceful Harbour West community, residents enjoy amenities such as a swimming pool, playground, and walking trails, all designed to enhance your lifestyle. Schedule your private tour today and experience the charm and convenience of this home for yourself.

18. 1996-09-25
    soldstatus $13,500
19. 1996-09-07
    historical
20. 1996-07-16
    listed $15,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 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: $16,169
• − Mortgage interest: −$3,467
• − Property taxes: −$928
• − Insurance: −$310
• − Repairs & maintenance: −$1,293
• − Management: −$1,293
• − Depreciation: −$1,801
• Taxable income: $7,076
• Est. tax owed @ 24.0%: −$1,698
• After-tax cash flow: $5,942/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): 14,836
• Household income: $77,597
• Rent vs Own: 27.9% rent · 72.1% own
• Severe rent burden: 366.0

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 (71%)
• Race & ethnicity: White 71% Hispanic / Latino 9% Two or more races 8% Black 8% Asian 3%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Arab 4% Italian 2% Romanian 2%
• Foreign-born: 11% · Canada, Philippines, Vietnam
• Languages at home: 85% English-only · Spanish 5% Other Indo-European 4% Other Asian/Pacific 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: ▼ -114.49%
• Current HPI: 247.8809
• Rent YoY: ▲ 2.38%
• 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

+326.0% since first listed

6 events — show timeline

• 2026-02-12 Relisted — Zillow
• 2024-12-22 Delisted — Zillow
• 2024-12-05 Listed $63,900 Zillow
• 1996-09-25 Sold (MLS) $13,500 GPRMLS
• 1996-09-07 Listing Removed — GPRMLS
• 1996-07-16 Listed $15,000 GPRMLS