Duplex With Loft
New
For Sale
$179,000
1541 Whittier Street, Lincoln, NE 68503
DUPLEX - Lincoln, NE
Property Size1,332 SF
Lot Size0.12 Acres
Price / SF$134.38
Days on Market1
Property Features for 1541 Whittier Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 2, Basement, Bathroom 1, Bathroom 2, Bedroom 5, Bedroom 3, Bedroom 4
Patio and Porch features
Porch
Exterior features
Porch
Subdivision
Fairview
Elementary school
Clinton
Middle school
Culler
High school
Lincoln Northeast
Elementary school district
Lincoln Public Schools
Middle school district
Lincoln Public Schools
High school district
Lincoln Public Schools
Directions
GPS
Standard status
Active
APN
11-13-414-020-000
Size
1,332 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
Fairview, Lot 35, S42' N87' S1/2
Tax Annual Amount
1930
Legal Description
Fairview, Lot 35, S42' N87' S1/2
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1900
Floors in Building
2
Architectural style
Other
Listing Agency:
Nebraska Realty
(402) 413-8000
Listed By:
Tom Larsen
(402) 450-3166
Added: Aug 6
Last Checked: Aug 6 at 10:06PM
MLS# 22622487
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.
This duplex contains 1,332 square feet and was built in 1900. The upper residence provides three bedrooms and one bathroom, including a loft bedroom with a closet, while the basement residence offers two bedrooms and one bathroom. Both units have access to basement laundry facilities. Interior improvements include refreshed paint and carpeting, with newer finishes noted in each residence. The property also includes a porch, forced-air heat, and central air conditioning.
A new roof and a new furnace and AC system were installed in 2025. The 0.12-acre parcel is located at 1541 Whittier Street in Lincoln, Nebraska 68503.
A new roof and a new furnace and AC system were installed in 2025. The 0.12-acre parcel is located at 1541 Whittier Street in Lincoln, Nebraska 68503.
Key Highlights
- Two‑unit property with 1,332 square feet
- Upper unit offers 3 bedrooms and 1 bathroom, including a loft bedroom
- Basement unit includes 2 bedrooms and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$13,217
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.38%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$264,340
$264.3K
Cap Rate 7%
$188,814
$188.8K
Cap Rate 9%
$146,856
$146.9K
Market Conditions
NOI Build-Up for 1,332 SF
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.
Gross rent
$20.0K $15.00/SF
− Vacancy
−$1.1K −$0.83/SF
EGI
$18.9K $14.17/SF
− OpEx
−$5.7K −$4.25/SF
NOI
$13.2K $9.92/SF
Area
Lincoln, NE
Vacancy
5.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$264,340
Cap Rate 7%
$188,814
Cap Rate 9%
$146,856
Alternative Uses
Best Use
Multifamily LT 5
$188.8K
$165.2K – $220.3K
NOI $13,217 @ 7.0% cap · market cap 7.38%
Second Best
Apartment 5plus
$175.4K
$153.5K – $204.6K
NOI $12,277 @ 7.0% cap · market cap 6.86%
Theoretical Best
Office A
$326.5K
$285.7K – $381.0K
NOI $22,858 @ 7.0% cap · market cap 12.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
840
Businesses Nearby
Explore this area
Business Placement
Demographics for 68503, NE
15,064
Population
6,851
Households
2.2
Avg Household Size
28
Median Age
38%
College-Educated
82%
High-School Grad
2.9 sq mi
ZIP Area
5,194
Density / Sq Mi
$50,886
Median Household Income
$27,909
Median Earnings
$974
Median Rent
$158,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential income property with updated finishes, basement laundry, and central air conditioning.
Where is this duplex located?
The property is located at 1541 Whittier Street Lincoln, NE.
What is the asking price?
The asking price for this property is $179,000.
What are key features of this property?
This property features: Two‑unit property with 1,332 square feet; Upper unit offers 3 bedrooms and 1 bathroom, including a loft bedroom; Basement unit includes 2 bedrooms and 1 bathroom
