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    The Largest CRE Database in the US with Over 1 Million Listings

    5981 N 166Th Terrace Plz Omaha, NE 68116

    Sponsored
    For Sale
    $1,210,000

    Multi-Family - Omaha, NE

    Type:Multi Family
    Days on Market:
    14
    Last Refresh:
    Feb 3 at 1:06 am

    Property Features for 5981 N 166Th Terrace Plz

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Multi Family
    Property condition
    New Construction
    Standard status
    Active
    Rooms
    Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3
    Bedrooms
    3
    Bathrooms
    2
    APN
    1934600717
    Parking
    16
    Interior features
    Cable Available, 9'+ Ceiling, Power Humidifier
    Appliances
    Cooktop, Dishwasher, Garbage Disposer, Microwave, Range, Washer

    Taxes and HOA fees

    Expense value
    600
    Expense
    Home Owner Assessments Fee
    Expense freq.
    Monthly

    Utilities

    Utilities
    Cable Available
    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    2026
    Number of units
    4
    Roof type
    Composition
    Architectural style
    Other

    We can help!

    Listing Contact
    Aaron Horn

    BHHS Ambassador Real Estate (402) 493-4663

    Listing agent Aaron Horn (402) 493-4663 License #20000123

    Listing date Jan 21, 2026

    MLS# 22602099 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

    New Construction Four-Plex Investment

    This new construction four-plex in Omaha, NE, presents a prime investment opportunity. The property features four spacious 3-bedroom units with modern, open floor plans and golf course views. Located near Pier 15 Lake, tennis courts, and a city park, it offers an attractive setting. Designed for long-term performance, the property features low exterior maintenance, with lawn care, snow removal, and exterior upkeep handled. The location benefits from strong rental demand in the Bennington Public Schools area. This turn-key property is ideal for buy-and-hold investors seeking stable cash flow, quality construction, and a desirable school district.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Restaurant Building Supply Gym & Fitness Center Skin Care Clinic Accounting Firm Big Box & Wholesale Store Daycare Center Kitchen & Bath Showroom Food Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Omaha
    County
    Sarpy
    State
    Nebraska
    Longitude
    -96.175162
    Latitude
    41.313029

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    FAQs

    What type of property is this?
    Quadplex - New construction four-plex with three-bedroom units and golf course views.
    Where is this quadplex located?
    The property is located at 5981 N 166Th Terrace Plz Omaha, NE.
    What is the asking price?
    The asking price for this property is $1,210,000.
    What are key features of this property?
    This property features: - New Construction 4-Plex: A turn-key investment property.; - Four spacious 3-bedroom units feature modern, open floor plans.; - Located in the highly desirable Bennington Public Schools district.
    (402) 496-9354
    Request Owner's contact information
    5981 N 166Th Terrace Plz Omaha, NE 68116
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    Omaha, NE 68116
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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
    5981 N 166Th Terrace Plz Omaha, NE 68116
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    We can help!
    Listing Contact
    Aaron Horn
    Real Estate License ID: 20000123
    (402) 496-9354
    Learn more
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