Three-Unit Triplex with In-Unit
For Sale
$450,000
519 S 34 Street, Omaha, NE 68105
RESIDENTIAL, 2 Story, Omaha, NE
Property Size3,124 SF
Lot Size0.11 Acres
Price / SF$144.05
Days on Market12
Property Features for 519 S 34 Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
9
Bathrooms
4
Full bathrooms
2
Rooms
Bedroom 5, Bathroom 3, Bedroom 2, Bedroom 8, Bathroom 2, Bedroom 7, Bedroom 4, Bathroom 1, Bedroom 3, Bedroom 1, Bathroom 4, Bedroom 9, Basement, Bedroom 6
Parking features
Off Street, Garage - Detached
Patio and Porch features
Porch
Exterior features
Porch
Subdivision
Isaacs & Seldens
Elementary school
Jackson
Middle school
Norris
High school
Central
Elementary school district
Omaha
Middle school district
Omaha
High school district
Omaha
Directions
Use GPS to determine best route.
Standard status
Active
APN
1418350000
Size
3,124 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
ISAACS & SELDENS ADD LOT 5 BLOCK 1 S 74 FT 66 X 74
Tax Annual Amount
2678
Legal Description
ISAACS & SELDENS ADD LOT 5 BLOCK 1 S 74 FT 66 X 74
Utilities
Heating system
Radiant
Cooling system
Central Air
Amenities
in-unit washer/dryer
Building Details
Year built
1915
Floors in Building
2
Architectural style
Other
Listing Agency:
BHHS Ambassador Real Estate · Berkshire Hathaway HomeServices
(402) 493-4663
Listed By:
Ryan Hines
(402) 630-8916
Added: Sep 16
Changed: Sep 27
Last Checked: Sep 27 at 2:06PM
MLS# 22626742
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 3,124-square-foot triplex contains three separate residential units with in-unit washer and dryer appliances. The layout includes a 2BR basement apartment, a 3BR/1BA main-level unit, and a 4BR/2BA upper-level unit. Built in 1915, the property also features a porch, central air conditioning, and radiant heat. Parking includes off-street spaces and a detached garage.
Located at 519 S 34 Street in Omaha, the property occupies a 0.11-acre lot. Two units are currently occupied, while the third is vacant, providing a three-unit configuration for residential income use or an owner-occupancy arrangement.
Located at 519 S 34 Street in Omaha, the property occupies a 0.11-acre lot. Two units are currently occupied, while the third is vacant, providing a three-unit configuration for residential income use or an owner-occupancy arrangement.
Key Highlights
- 3,124 square feet across three residential units
- Unit mix includes 2BR basement, 3BR/1BA main‑floor, and 4BR/2BA upper‑level units
- In‑unit washer and dryer appliances in all three units
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
$27,298
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
6.07%
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%
$545,960
$546.0K
Cap Rate 7%
$389,971
$390.0K
Cap Rate 9%
$303,311
$303.3K
Market Conditions
NOI Build-Up for 3,124 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
$42.0K $13.44/SF
− Vacancy
−$3.0K −$0.96/SF
EGI
$39.0K $12.48/SF
− OpEx
−$11.7K −$3.74/SF
NOI
$27.3K $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%
$545,960
Cap Rate 7%
$389,971
Cap Rate 9%
$303,311
Alternative Uses
Best Use
Multifamily LT 5
$390.0K
$341.2K – $455.0K
NOI $27,298 @ 7.0% cap · market cap 6.07%
Second Best
Apartment 5plus
$359.6K
$314.7K – $419.6K
NOI $25,175 @ 7.0% cap · market cap 5.59%
Theoretical Best
Office A
$821.9K
$719.2K – $958.9K
NOI $57,534 @ 7.0% cap · market cap 12.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,609
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Three-unit property with central air, radiant heat, and detached garage parking.
Where is this triplex located?
The property is located at 519 S 34 Street Omaha, NE.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 3,124 square feet across three residential units; Unit mix includes 2BR basement, 3BR/1BA main‑floor, and 4BR/2BA upper‑level units; In‑unit washer and dryer appliances in all three units
