Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    4801 Underwood Ave Omaha, NE 68132

    Sponsored
    For Sale
    $856,000

    Multi-Family - Omaha, NE

    Type:Multi Family
    Days on Market:
    1
    Last Refresh:
    Feb 18 at 8:06 pm

    Property Features for 4801 Underwood Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Multi Family
    Standard status
    Active
    Rooms
    Basement, Bathroom 1, Bedroom 1, Kitchen, Living Room
    Bedrooms
    1
    Bathrooms
    1
    APN
    0953510000
    Parking
    7
    Parking features
    Built-in
    Basement Y/N
    1
    Appliances
    Cooktop, Range, Refrigerator

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    1968
    Number of units
    8
    Building materials
    Brick
    Roof type
    Composition
    Architectural style
    Other

    We can help!

    Listing Contact
    Nick Moellenbeck

    Better Homes and Gardens Real Estate The Good Life Group (402) 932-5989

    Listing agent Nick Moellenbeck (402) 932-5989 License #20240473

    Listing date Feb 18, 2026

    MLS# 22604450 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Historic Dundee Eight-Plex

    This all-brick 8-plex is located in the historic Dundee area and features eight one-bedroom, one-bath units. The property includes three built-in garage spaces, tenant storage lockers, and a clean, well-maintained laundry room. Additional property information, including rents, income and expense data, utilities, laundry, and parking details, is available in the associated MLS documents.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Omaha
    County
    Sarpy
    State
    Nebraska
    Longitude
    -95.9858665
    Latitude
    41.2649157

    Nearby Similar for Sale

    • $650,000

      Historic 6-Plex Near Blackstone

      Historic 6-unit multi-family property near Blackstone District and Nebraska Medicine.
      401 S 38Th Ave, Omaha, NE 68131
      View Details
    • $450,000

      Omaha Multi-Family Investment Opportunity

      Five-unit property with recent updates and additional parking.
      1416 O St, Omaha, NE 68107
      View Details
    • $609,000
      2,332 SF

      Benson Triplex with Commercial Space

      Updated triplex with commercial storefront in vibrant Benson district.
      5519 NW Radial Hwy, Omaha, NE 68104
      View Details
    • New
      $450,000

      Renovated Duplex Near Memorial Park

      Turnkey duplex with modern updates in a desirable Omaha location.
      5610 Seward St, Omaha, NE 68104
      View Details
    • $575,000

      Dundee Duplex with Historic Charm

      South-facing Dundee duplex blending historic character with modern charm.
      5012 Cass St, Omaha, NE 68132
      View Details
    • $215,000

      Tenant-Ready Triplex Opportunity

      Non-conforming triplex with separate access and tenant-ready condition.
      4901 N 14Th St, Omaha, NE 68110
      View Details
    • $530,000
      0.13 Acres

      Omaha Multi-Family Investment Opportunity

      Cash-flowing 6-unit apartment building near transportation and shopping.
      1039 Park Ave, Omaha, NE 68105
      View Details
    • $265,000

      Omaha Duplex with Skyline Views

      Well-maintained duplex in prime Omaha location with income potential.
      539 Park Ave, Omaha, NE 68105
      View Details
    • $899,900

      Omaha Multi-Family Investment Opportunity

      Updated five-unit properties with off-street parking and coin laundry.
      4531 Hamilton St, Omaha, NE 68132
      View Details
    • $925,000

      Omaha Multifamily Investment Opportunity

      Multifamily investment opportunity in South Omaha Vinton Street corridor.
      2416 S 16Th St, Omaha, NE 68108
      View Details
    • $415,000

      Omaha Multi-Family Investment Opportunity

      Five-unit property in Blackstone district near Midtown, Downtown, and Medical District.
      204 S 37Th St, Omaha, NE 68131
      View Details
    • $385,000
      0.16 Acres

      Omaha Multi-Family Residential Property

      Residential multi-family property for sale in Omaha, Nebraska.
      1738 South 32Nd Ave, Omaha, NE 68105
      View Details

    FAQs

    What type of property is this?
    Apartment building - All-brick 8-unit apartment building in historic Dundee.
    Where is this apartment building located?
    The property is located at 4801 Underwood Ave Omaha, NE.
    What is the asking price?
    The asking price for this property is $856,000.
    What are key features of this property?
    This property features: - All-brick 8-plex in historic Dundee; - Eight one-bedroom, one-bath units; - Three built-in garage spaces offer convenience
    (402) 889-3829
    Request Owner's contact information
    4801 Underwood Ave Omaha, NE 68132
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    4801 Underwood Ave
    Omaha, NE 68132
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    4801 Underwood Ave Omaha, NE 68132
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Nick Moellenbeck
    Real Estate License ID: 20240473
    (402) 889-3829 (402) 932-5989
    Learn more
    Google sign-in failed. Please try again or use another login method.