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    213 10th Avenue Lyman, NE 69352

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    For Sale
    $60,000

    Duplex, Other - Lyman, NE

    Type:Duplex
    Property size:
    1,563 SF
    Lot size:
    0.25 Acres
    Price / SF:
    $38/SF
    Added:
    Aug 29, 2024
    Days on Market:
    601
    Last Refresh:
    Apr 21 at 3:06 pm

    Property Features for 213 10th Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Duplex
    Zoning
    Residential
    Bedrooms
    3
    Rooms
    Bedroom 1, Bedroom 2, Bedroom 3
    Parking features
    Garage
    Exterior features
    Rv Parking, Storage Shed, Fence
    Fencing
    Fenced
    Appliances
    Range, Refrigerator
    Standard status
    Active
    Size
    1,563 SF
    Lot size
    0.25 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Annual Amount
    502

    Utilities

    Heating system
    Coal, Wood (Heating)

    Building Details

    Year built
    1931
    Number of units
    2
    Building materials
    Stucco
    Roof type
    Asphalt, Fiberglass
    Architectural style
    Other
    Additional Structures
    Packing Shed, Shed(s), Storage

    We can help!

    Listing Contact
    Suzanne Keller
    Suzanne Keller

    Listing agent Suzanne Keller License #RE-13268

    Listing office Simply Real Estate 208 East Valley Rd Unit 1A, Torrington, NE

    Listing date Aug 29, 2024

    MLS# 20244384 Listing URL

    Copyright © 2026 Wyoming Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Two-Home Property in Lyman, Nebraska

    Located in Lyman, Nebraska, this property features two single-family homes, presenting an investment opportunity or living arrangement for extended families. The first home includes 2 bedrooms and 1 bathroom. It is currently heated with a wood stove, but a natural gas heater could be installed in the living room. Utilities average $150 per month, and the home could rent for $650, with the tenant paying utilities. The second home is an underground 1-bedroom with a .75-bathroom. This home uses electric heat and needs the baseboards replaced. It includes a refrigerator and range/oven. Utilities for this home average $85, and it has rented for $350, with the tenant paying utilities. Both homes have their own meters. A detached block garage with power and a swamp cooler, along with a garden shed, are located on the property. The property boundaries are marked by a chain link fence. A working water pump is also present. Both homes appear structurally sound, with no visible cracking in the foundation or walls/ceilings. Updates have been made to the water heaters and plumbing. The roofs need to be replaced but do not leak. The property could use some cleaning and paint. The last time either property was occupied was June of 2024. The property sits on a lot of 0.25 acres. The property's total size is 1563 square feet. The property is zoned residential. The owner may finance with a down payment.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Hotel & Motel Storage Facility Bar & Pub Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lyman
    County
    Scotts Bluff
    State
    Nebraska
    Longitude
    -104.04427
    Latitude
    41.915513

    FAQs

    What type of property is this?
    Duplex - Two homes on one lot, ideal for rental income.
    Where is this duplex located?
    The property is located at 213 10th Avenue Lyman, NE.
    What is the asking price?
    The asking price for this property is $60,000.
    What are key features of this property?
    This property features: Two single‑family homes on one property, offering investment potential or extended family living.; Potential for steady rental income from both homes, with established rental history.; Owner financing available with $65,000 at 5% interest, amortized over 15 years with a balloon payment after 36 months.
    (307) 715-0217
    We can help!
    Listing Contact
    Suzanne Keller
    Suzanne Keller
    Real Estate License ID: RE-13268
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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