Converted
New
For Sale
$275,000
1049 Park Avenue, Omaha, NE 68105
Fully occupied residential income property with a three-unit configuration and additional Park Avenue packaging options.
Property Size1,900 SF
Price / SF$144.74
Days on Market7
Property Features for 1049 Park Avenue
General Information
Standard status
Active
Size
1,900 SF
Property subtype
Multi-Family
Building Details
Year Built
1910
Listing Agency:
Exp Realty LLC
(402) 990-7423
Listed By:
Heidi Cline
(402) 350-9494
Source:
Tenaciousrealty
Added: Aug 28
Changed: Sep 3
Last Checked: Sep 2 at 5:09PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Exp Realty LLC
Investment Insights
Based on property information with market context.
This 1,900-square-foot triplex at 1049 Park Avenue in Omaha, Nebraska, is a converted residential property with three units. Built in 1910, the building is currently rented across all units, providing an established multifamily configuration.
Two additional Park Avenue properties, 1111 Park Avenue and 1113 Park Avenue, are also available and may be combined with this offering. The property information also identifies the possibility of creating a fourth unit.
Two additional Park Avenue properties, 1111 Park Avenue and 1113 Park Avenue, are also available and may be combined with this offering. The property information also identifies the possibility of creating a fourth unit.
Key Highlights
- Three‑unit converted house at 1049 Park Avenue
- 1,900 square feet of property size
- Built in 1910
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
$16,602
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
6.04%
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%
$332,040
$332.0K
Cap Rate 7%
$237,171
$237.2K
Cap Rate 9%
$184,467
$184.5K
Market Conditions
NOI Build-Up for 1,900 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
$25.5K $13.44/SF
− Vacancy
−$1.8K −$0.96/SF
EGI
$23.7K $12.48/SF
− OpEx
−$7.1K −$3.74/SF
NOI
$16.6K $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%
$332,040
Cap Rate 7%
$237,171
Cap Rate 9%
$184,467
Alternative Uses
Best Use
Multifamily LT 5
$237.2K
$207.5K – $276.7K
NOI $16,602 @ 7.0% cap · market cap 6.04%
Second Best
Apartment 5plus
$218.7K
$191.4K – $255.2K
NOI $15,311 @ 7.0% cap · market cap 5.57%
Theoretical Best
Office A
$499.9K
$437.4K – $583.2K
NOI $34,992 @ 7.0% cap · market cap 12.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,178
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Fully occupied residential income property with a three-unit configuration and additional Park Avenue packaging options.
Where is this triplex located?
The property is located at 1049 Park Avenue 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 converted house at 1049 Park Avenue; 1,900 square feet of property size; Built in 1910
