Updated Triplex With Basement
For Sale
$275,000
506 S 30th Street, Omaha, NE 68105
RESIDENTIAL, 2 Story, Omaha, NE
Property Size2,476 SF
Lot Size0.16 Acres
Price / SF$111.07
Days on Market20
Property Features for 506 S 30th Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
5
Bathrooms
3
Full bathrooms
5
Rooms
Bedroom 4, Bedroom 5, Basement, Bathroom 1, Bathroom 2, Bedroom 3, Bathroom 3, Bedroom 1, Bedroom 2
Parking features
Garage
Patio and Porch features
Porch
Exterior features
Porch
Appliances
Range, Refrigerator
Subdivision
REDICKS -J I- SUB
Lot features
In City
Elementary school
Jackson
Middle school
Norris
High school
Central
Elementary school district
Omaha
Middle school district
Omaha
High school district
Omaha
Directions
GPS is accurate.
Standard status
Active
APN
2103660000
Size
2,476 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
REDICKS -J I- SUB LOT 3 BLOCK 9 50 X 140
Tax Annual Amount
3523
Legal Description
REDICKS -J I- SUB LOT 3 BLOCK 9 50 X 140
Utilities
Heating system
Baseboard, Forced Air
Amenities
laundry hookups
storage space
Building Details
Year built
1890
Floors in Building
2
Flooring type
Vinyl, Carpet, Tile - Ceramic, Wood
Roof type
Composition
Architectural style
Other
Listing Agency:
Nebraska Realty
(402) 491-0100
Listed By:
Nick Gollin · License #20210327
(402) 310-3717
Added: Aug 19
Changed: Sep 5
Last Checked: Sep 7 at 5:06PM
MLS# 22623755
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 2,476-square-foot triplex contains two two-bedroom, one-bath apartments and one one-bedroom, one-bath apartment. The two larger units were remodeled since 2024, and the smaller apartment received remodeling in 2015 and remains tenant occupied. Interior finishes include ceramic tile, carpet, wood, and vinyl flooring, with heating provided by baseboard and forced-air systems. The property also includes a porch, range, refrigerator, and garage parking.
Major exterior work includes updated windows, siding, and a composition roof. Basement amenities add laundry hookups and substantial storage space, while wall stabilization has been completed in the basement. Built in 1890 on a 0.16-acre lot, the property is located near Blackstone, Downtown, and Creighton University in Omaha.
Major exterior work includes updated windows, siding, and a composition roof. Basement amenities add laundry hookups and substantial storage space, while wall stabilization has been completed in the basement. Built in 1890 on a 0.16-acre lot, the property is located near Blackstone, Downtown, and Creighton University in Omaha.
Key Highlights
- Three‑unit layout with two 2‑bedroom, 1‑bath apartments and one 1‑bedroom, 1‑bath apartment
- 2,476 square feet on a 0.16‑acre lot
- Two 2‑bedroom units remodeled since 2024
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
$21,636
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
7.87%
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%
$432,720
$432.7K
Cap Rate 7%
$309,086
$309.1K
Cap Rate 9%
$240,400
$240.4K
Market Conditions
NOI Build-Up for 2,476 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
$33.3K $13.44/SF
− Vacancy
−$2.4K −$0.96/SF
EGI
$30.9K $12.48/SF
− OpEx
−$9.3K −$3.74/SF
NOI
$21.6K $8.74/SF
Area
Omaha, NE
Vacancy
7.12%
Lease Rate
$13.44 /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%
$432,720
Cap Rate 7%
$309,086
Cap Rate 9%
$240,400
Alternative Uses
Best Use
Multifamily LT 5
$309.1K
$270.5K – $360.6K
NOI $21,636 @ 7.0% cap · market cap 7.87%
Second Best
Apartment 5plus
$285.0K
$249.4K – $332.6K
NOI $19,953 @ 7.0% cap · market cap 7.26%
Theoretical Best
Office A
$651.4K
$570.0K – $760.0K
NOI $45,600 @ 7.0% cap · market cap 16.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,124
Businesses Nearby
Explore this area
Business Placement
Demographics for 68105, NE
22,669
Population
10,633
Households
2.1
Avg Household Size
32
Median Age
35%
College-Educated
84%
High-School Grad
3.6 sq mi
ZIP Area
6,297
Density / Sq Mi
$53,253
Median Household Income
$36,969
Median Earnings
$1,010
Median Rent
$187,600
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?
Triplex - Two apartments were remodeled since 2024, while the remaining unit is tenant occupied.
Where is this triplex located?
The property is located at 506 S 30th Street Omaha, NE.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Three‑unit layout with two 2‑bedroom, 1‑bath apartments and one 1‑bedroom, 1‑bath apartment; 2,476 square feet on a 0.16‑acre lot; Two 2‑bedroom units remodeled since 2024
