Ranch Duplex with
New
For Sale
$190,000
1011 N 23 Avenue, Blair, NE 68008
RESIDENTIAL, 1.0 Story/Ranch, Blair, NE
Property Size1,284 SF
Lot Size0.10 Acres
Price / SF$147.98
Days on Market2
Property Features for 1011 N 23 Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 2, Bedroom 2, Bathroom 1, Laundry Room, Bedroom 1
Parking features
Garage
Patio and Porch features
Deck
Exterior features
Deck/Balcony
Appliances
Range, Refrigerator, Washer, Dishwasher, Dryer
Subdivision
BC LARSEN'S STILLMEADOW 2ND ADD
Elementary school
Blair
Middle school
Otte Blair
High school
Blair
Elementary school district
Blair
Middle school district
Blair
High school district
Blair
Directions
From the intersection of Hwy 30/N. 19th St & Washington, head North on 19th St. Continue North, road will turn into Herman Blvd. Turn left on N. 23rd Ave. Home is on the corner of N. 23rd Ave & Herman Blvd.
Standard status
Active
APN
890055769
Size
1,284 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
BC LARSEN'S STILLMEADOW 2ND ADD UNIT 1 PT OF LOT 2 114 PC 2
Tax Annual Amount
1999
Legal Description
BC LARSEN'S STILLMEADOW 2ND ADD UNIT 1 PT OF LOT 2 114 PC 2
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1993
Floors in Building
1
Roof type
Composition
Architectural style
Ranch
Listing Agency:
Platinum Realty LLC
(888) 220-0988
Listed By:
Samantha Tisinger
(402) 980-6035
Added: Sep 8
Last Checked: Sep 9 at 4:06AM
MLS# 22625891
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 1,284-square-foot ranch duplex, built in 1993, offers three bedrooms and two bathrooms within a practical single-story layout. The living room features vaulted ceilings, while the eat-in kitchen includes cabinet storage and a range, refrigerator, and dishwasher. The primary bedroom includes a walk-in closet and private full bathroom. A separate laundry room, central air, forced-air heat, composition roof, and garage add functional value. The property is being sold as-is and requires work, providing an opportunity for renovation and customization.
Outdoor features include a deck, and the property occupies a 0.1-acre lot at 1011 N 23 Avenue in Blair, Nebraska. Additional appliances include a washer and dryer. The two secondary bedrooms and second full bathroom support flexible residential use within the existing floor plan.
Outdoor features include a deck, and the property occupies a 0.1-acre lot at 1011 N 23 Avenue in Blair, Nebraska. Additional appliances include a washer and dryer. The two secondary bedrooms and second full bathroom support flexible residential use within the existing floor plan.
Key Highlights
- 1,284 SF ranch duplex built in 1993
- Three bedrooms and two bathrooms
- Vaulted‑ceiling living room with eat‑in kitchen
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
$14,623
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
7.70%
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%
$292,460
$292.5K
Cap Rate 7%
$208,900
$208.9K
Cap Rate 9%
$162,478
$162.5K
Market Conditions
NOI Build-Up for 1,284 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
$22.3K $17.40/SF
− Vacancy
−$1.5K −$1.13/SF
EGI
$20.9K $16.27/SF
− OpEx
−$6.3K −$4.88/SF
NOI
$14.6K $11.39/SF
Area
Washington County, NE
Vacancy
6.50%
Lease Rate
$17.40 /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%
$292,460
Cap Rate 7%
$208,900
Cap Rate 9%
$162,478
Alternative Uses
Best Use
Multifamily LT 5
$208.9K
$182.8K – $243.7K
NOI $14,623 @ 7.0% cap · market cap 7.70%
Second Best
Apartment 5plus
$186.2K
$162.9K – $217.2K
NOI $13,032 @ 7.0% cap · market cap 6.86%
Theoretical Best
Office A
$337.3K
$295.2K – $393.5K
NOI $23,612 @ 7.0% cap · market cap 12.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
175
Businesses Nearby
Explore this area
Business Placement
Demographics for 68008, NE
12,597
Population
5,289
Households
2.4
Avg Household Size
42
Median Age
39%
College-Educated
97%
High-School Grad
124.0 sq mi
ZIP Area
102
Density / Sq Mi
$86,905
Median Household Income
$54,588
Median Earnings
$933
Median Rent
$254,900
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?
Duplex - Three-bedroom property with vaulted living space, a primary suite, dedicated laundry, and attached garage parking.
Where is this duplex located?
The property is located at 1011 N 23 Avenue Blair, NE.
What is the asking price?
The asking price for this property is $190,000.
What are key features of this property?
This property features: 1,284 SF ranch duplex built in 1993; Three bedrooms and two bathrooms; Vaulted‑ceiling living room with eat‑in kitchen
