The Best Value Properties in Omaha, NE

☕️ 3 min read By Noah Blumberg

Omaha, Nebraska, like so much of the U.S., has seen a dramatic spike in real estate prices over the last couple years. Much of it is due to lagging supply which is at roughly one third of normal. There are tons of buyers and not enough inventory which causes buyers to bid over asking prices. If you're lucky enough to own in Omaha, you're in a great position to command high rents for your property or just benefit from appreciation.

These conditions should remain unchanged for a while because even as builders attempt to get new homes built, global supply chain delays have made everything take longer. In the meantime, Omaha is a very competive rental market with 96% occupancy and an average of 25 vacancy days. The price to rent ratio supports this dynamic as it points to the reality that prices, despite recent increases, have stayed low enough to make a profit from the rent a typical person in Omaha can afford.

The Properties

There's more plausible data about potential rents for properties in Omaha, so you'll see more cap rate and cash-on-cash return values in this table. We're used to seeing major rehab properties at the top of our lists, but this time we have a real estate property that needs work but not extensively so. Property #1 is a large home needing "some handyman work", but at an amazing price. Its $139,900 price tag is only about one third of the median price on this list. The price makes for some gaudy, if a bit unrealistic, cap rate and cash-on-cash numbers. Despite the fact that this property will have more than the assumed amount of start up costs in our calculation, it still presents a great opportunity at this price.

Property #2 is in Omaha's most desirable zip code. This 3000+ square foot home is listed below the median price and is in great shape. It may take a large offer to land this property, however, as it's only on the market to seek backup offers at the moment. Property #14 needs plenty of work but it appears to be cosmetic in nature. At just $115,000, it looks very attractive as a potential rental.

Reading Resources

Here are the top 25 properties. To see them all or get a list for another city, order a custom list!
Median List PriceMedian SqftMedian Lot Size(SqFt)Median HOA Fee
Our tables are now sortable. Just click a column header. :)
Score**PropertyZipX**TypeCap Rate*SqFtCash-On-Cash Return*Price

2219 Evans St
1.33single family9.22237119.41$139,900

3340 N 207th Ter
2.28single family3.313352-9.24$375,000

20502 Ohio St
2.28single family3.62646-7.79$350,000

17718 Frances St
2.15single family3.63458-7.82$430,000

16501 Loop St
1.87single family3.53748-8.32$355,000

5816 S 167th Ave
1.98single family3.373542-8.96$420,000

412 N 163rd St
2.09single family4.123731-5.18$399,000

2920 N 169th St
1.94single family3.053912-10.55$420,000

1215 N 121st St
1.90single family4.543326-3.07$329,500

2111 S 166th St
2.15single family3.572254-7.96$270,000

17026 Decatur St
2.09single family3.013679-10.73$437,100

9506 S 183rd Ave
1.87single family4.83218-1.81$408,217

533 S 196th Ave
2.28single family2.864033-11.49$565,000

4022 Wirt St
1.00single family7.78196010.87$115,000

14866 Harvey Oaks Ave
1.74single family4.443158-3.58$315,000

5902 N 166th St
1.94single family3.084510-9.96$599,000

2512 N 176th St
1.94single family3.193521-9.86$485,000

15704 S St
1.98single family3.932351-6.16$315,000

15109 Taylor St
1.94single family2.963805-10.99$475,000

16055 Gold Plz
2.15single family4.212462-4.75$325,000

18709 Josephine St
1.87single family2.963484-10.97$475,000

16563 Elm St
2.15single familyN/A2724N/A$420,000

6418 S 99th St
1.65single family3.63772-7.77$390,000

16902 Western Ave
2.09single family5.4723121.55$299,900

3716 N 19th St
1.33single family7.3515048.71$111,000
***This table shows only few basic data points. Rankings are based on 22 data points and 7 calculations per property.**Find explanations of ZipX aka zip multiplier and Score here.*Cap Rate and Cash-On-Cash Return are estimations given typical inputs, not a guaranteed number.