1365 S 40th Street Lincoln, NE 68510
DUPLEX - Lincoln, NE
Property Features for 1365 S 40th Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Laundry Room, Bedroom 1, Bathroom 2, Bedroom 2, Basement, Bedroom 4, Bathroom 1, Bedroom 3
- Patio and Porch features
- Porch
- Interior features
- Cable Available
- Exterior features
- Porch
- Appliances
- Range - Cooktop + Oven, Refrigerator
- Standard status
- Active
- APN
- 17-30-427-002-000
- Size
- 1,980 SF
- Lot size
- 0.19 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- BROWNBILT SECOND ADDITION, BLOCK 8, Lot 2
- Tax Annual Amount
- 3380
Utilities
- Utilities
- Cable Available
- Heating system
- Forced Air
- Cooling system
- Central Air
Building Details
- Year built
- 1950
- Floors in Building
- 2
- Flooring type
- Vinyl, Wood
- Roof type
- Composition
- Architectural style
- Other
Listing agent Mark Faatz (402) 575-1914
Listing office Nebraska Realty 7321 Plaza Ct, Lincoln, NE (402) 413-8000
Listing date Apr 17, 2026
Copyright © 2026 Great Plains Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The property is located close to restaurants and shopping in Lincoln, Nebraska. With a lot size of 0.19 acres and a total property size of 1,980 square feet, the layout is designed for straightforward, manageable residential occupancy. One side of the duplex is currently rented.
For buyers seeking a residential income property with independent, repeatable floorplans, this brick duplex offers a practical option with clear unit separation and an easy-to-understand layout. With one side already rented and the other side currently vacant, it may be well-suited for an owner-occupant or an investor looking for a duplex that can be leased on a similar basis across both units.
Key Highlights
- Well‑maintained brick duplex built in 1950 with two units, each with 2 bedrooms and 1 bathroom
- Each unit includes a living room, formal dining room, bright kitchen, and second‑floor bedroom and full bath layout
- Lower level includes a laundry room; flooring includes wood and vinyl; cable available
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $29.7k | $15.00 |
| − Vacancy | −$1.6k | −$0.83 |
| EGI | $28.1k | $14.17 |
| − OpEx | −$8.4k | −$4.25 |
| NOI | $19.6k | $9.92 |
