Score
0Omaha, NE
17128 Bedford Ave
478K
4 beds
3 baths
2,825 sqft
4 bd • 3 ba • 2,825 sf
This analysis was generated on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
AI Property Analysis
0:000:00 / 0:00
List Price
$477,500
Price/Sq.Ft
$169
Year Built
2003
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
This Elkhorn home at 17128 Bedford Ave, Omaha, NE 68116 offers exceptional value at $169.03/sqft, which is approximately 15% below the average price per square foot for similar homes in the area. Built in 2003, it's relatively new and boasts a spacious 2,825 sqft layout, which is about 20% larger than the typical home in this price range. The property features 4 bedrooms and 3 bathrooms, ideal for families or those needing extra space.
Location is a significant asset, with the home just blocks away from schools, parks, and a Super Target. The proximity to Manchester Elementary School (rated 8/10) and Elkhorn Grandview Middle School (rated 9/10) adds substantial value for families. The median income of $105,516 in the area suggests a stable, affluent neighborhood.
Recent updates include a newly renovated main floor laundry and drop zone, enhancing the home's functionality. The primary suite is a standout feature with a sitting area, large walk-in closet, and newly tiled shower. The two-sided gas fireplace shared between the family room and dining area is a unique and attractive feature.
The unfinished lower level with an egress window provides potential for additional living space, offering buyers the opportunity to increase the home's value through customization. The flat, fenced yard with a patio and mature landscaping adds to the property's curb appeal and outdoor living potential.
Energy efficiency features like the sprinkler system and ceiling fans contribute to lower maintenance costs and improved comfort. The home's 9'+ ceilings and two-story entry create a sense of spaciousness and luxury.
The Bad
While the property has many positive attributes, there are some potential drawbacks to consider. The home has been on the market for 5 days with a recent price reduction, which could indicate some initial overpricing or potential issues not immediately apparent.
The property's price history shows multiple price reductions since September 2024, dropping from $499,000 to the current $477,500. This 4.3% decrease over a few months might suggest either market cooling or possible overvaluation initially.
At 21 years old, some systems and appliances may be approaching the end of their lifespan. While the listing mentions updates to the laundry room and primary bathroom, it's unclear if other major systems like the HVAC, roof, or kitchen appliances have been recently replaced or may need updating soon.
The unfinished basement, while offering potential, represents an additional cost for buyers who want to utilize this space fully. Finishing a basement can cost anywhere from $20,000 to $50,000 or more, depending on the extent of work required.
The property doesn't mention any energy-efficient upgrades like solar panels or high-efficiency HVAC systems, which are becoming increasingly important to buyers and can impact long-term ownership costs.
Lastly, while the schools are highly rated, the high school (Elkhorn High School) is 2.6 miles away, which might be a consideration for families with older children.
The Ugly
There are no glaring "ugly" factors for this property based on the provided information. However, potential buyers should be aware of some less obvious concerns:
1. Property taxes in Nebraska can be relatively high. Without specific tax information provided, buyers should investigate the current property tax burden and any potential increases.
2. The rapid appreciation from the 2004 sale price of $245,000 to the current listing of $477,500 (a 94.9% increase over 21 years) might raise questions about long-term value sustainability and potential market corrections.
3. Omaha's climate includes extreme weather conditions. The listing doesn't mention any specific measures for weather protection or energy efficiency, which could lead to higher utility costs or potential weather-related damages.
4. The property's flood risk is not mentioned. Given Omaha's proximity to rivers, it's crucial to determine if flood insurance is required or recommended, which could significantly impact the total cost of ownership.
5. Radon levels in Nebraska are higher than average. Testing and potential mitigation could be necessary, adding to initial costs.
6. The clay soil common in some areas of Omaha can lead to foundation issues. A thorough inspection of the foundation would be crucial, as repairs could be extremely costly.
7. The listing doesn't mention an HOA, but if one exists, fees and regulations could impact the total cost of ownership and property use restrictions.
Who is this property for?
These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.
Best For
This property is best suited for:
1. Growing families: With 4 bedrooms, 3 bathrooms, and 2,825 sqft, this home can accommodate a family comfortably. The proximity to highly-rated schools (8/10 and 9/10) makes it ideal for those with school-age children.
2. Buyers with household incomes around $120,000-$150,000: Based on the listing price of $477,500 and assuming a 20% down payment, the monthly mortgage payment would be approximately $2,300-$2,500 (not including taxes and insurance). This aligns well with the area's median income of $105,516, allowing for comfortable affordability.
3. Those who value established neighborhoods: Built in 2003 in Elkhorn, this home offers a blend of relatively new construction in a developed area with mature landscaping.
4. Entertainers: The well-defined spaces, large family room with a two-sided fireplace, and spacious kitchen with a center island make this home perfect for those who enjoy hosting gatherings.
5. Buyers looking for move-in ready with room to customize: While the main living areas are move-in ready, the unfinished basement offers potential for personalization.
6. Professionals working in West Omaha: The location provides good access to many business areas in the western part of the city.
7. Those prioritizing outdoor living: The flat, fenced yard with a patio and mature landscaping is ideal for families with children or pets, or those who enjoy gardening and outdoor relaxation.
Not For
This property may not be suitable for:
1. First-time homebuyers on a tight budget: The price point and potential additional costs (finishing the basement, possible updates to older systems) may be challenging for those just entering the market.
2. Investors looking for high rental yields: With estimated rental rates for 4-bedroom homes in the area at $1,930/month, the potential rental income might not provide attractive returns compared to the purchase price and ongoing costs.
3. Buyers seeking new construction: While relatively newer, at 21 years old, this home doesn't offer the latest building technologies or design trends found in brand new constructions.
4. Those preferring a more urban lifestyle: Located in Elkhorn, this property is in a suburban area. Buyers looking for a more downtown or urban experience might find the location less appealing.
5. Retirees or downsizers: The two-story layout and large square footage might be more than necessary for empty-nesters or those looking to simplify their living situation.
6. Buyers with limited renovation budgets: While move-in ready, those wanting to finish the basement or update any aging systems should be prepared for potential additional costs.
7. Those sensitive to property tax burdens: Given Nebraska's relatively high property taxes, buyers on a fixed income or with limited budget flexibility might find the ongoing tax costs challenging.
8. Buyers requiring immediate additional living space: The unfinished basement, while offering potential, is not immediately usable as living space without further investment.
Demographics
Area Median Income
$105,516
Property History
Price History
Ownership Timeline
$31,000Financed
Sep 11, 2003M J A LlcParadise Homes Inc
Corporation Deed
Standard Sale (Purchase/Resales)
Property Taxes
$0
2024 Tax Assessment
Assessed Value$403,500
Tax Rate0.00%
Sunlight Analysis
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Schools
Details about nearby schools in this area
Financials
Monthly Costs
Market Rent (4 bed)
Get a detailed estimate on Zillow$960
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$477,500
Price/sqft
$169
Layout
4 bd•3 ba
Days on market
5 daysat time of analysis
Stats in the Area
Based on 6 comparable properties nearby
Average Price
$380,150
25.6%
Your price is 25.6% above average
Median Price
$399,999
19.4%
Based on 6 recent sales
Price per Sq.Ft
$148
14.2%
Your price is 14.2% above average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 16321 Ames Avenue, Omaha, NE 68116 | $359,000 | 2,802 | 4 | 3 | $12824.2% | 10/2/2024 |
| 17307 Grand Avenue, Omaha, NE 68116 | $430,000 | 2,477 | 4 | 3 | $1742.7% | 10/24/2024 |
| 16217 Parker Street, Omaha, NE 68118 | $329,000 | 2,364 | 4 | 3 | $13917.7% | 10/21/2024 |
| 2623 N 167 Street, Omaha, NE 68116 | $399,999 | 2,854 | 4 | 3 | $14017.1% | 8/9/2024 |
| 17620 Ames Circle, Omaha, NE 68116 | $345,000 | 2,287 | 4 | 3 | $15110.8% | 10/11/2024 |
| 16409 Manderson Street, Omaha, NE 68116 | $417,900 | 2,650 | 4 | 3 | $1586.7% | 8/16/2024 |
16321 Ames Avenue, Omaha, NE 68116
Price: $359,000
Sq.Ft: 2,802
Beds/Baths: 4/3
$/Sq.Ft:
$12824.2%
Sale Date: 10/2/2024
17307 Grand Avenue, Omaha, NE 68116
Price: $430,000
Sq.Ft: 2,477
Beds/Baths: 4/3
$/Sq.Ft:
$1742.7%
Sale Date: 10/24/2024
16217 Parker Street, Omaha, NE 68118
Price: $329,000
Sq.Ft: 2,364
Beds/Baths: 4/3
$/Sq.Ft:
$13917.7%
Sale Date: 10/21/2024
2623 N 167 Street, Omaha, NE 68116
Price: $399,999
Sq.Ft: 2,854
Beds/Baths: 4/3
$/Sq.Ft:
$14017.1%
Sale Date: 8/9/2024
17620 Ames Circle, Omaha, NE 68116
Price: $345,000
Sq.Ft: 2,287
Beds/Baths: 4/3
$/Sq.Ft:
$15110.8%
Sale Date: 10/11/2024
16409 Manderson Street, Omaha, NE 68116
Price: $417,900
Sq.Ft: 2,650
Beds/Baths: 4/3
$/Sq.Ft:
$1586.7%
Sale Date: 8/16/2024
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