Duplex with Detached
For Sale
$365,000
1223 1223-1225 N 66th St, Omaha, NE 68132
Fully occupied two-unit property with month-to-month leases, private patios, yard areas, and extensive on-site parking.
Property Size3,270 SF
Price / SF$111.62
Days on Market50
Property Features for 1223 1223-1225 N 66th St
General Information
Standard status
Active
Size
3,270 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Amenities
private covered patio
generous yard space
Building Details
Year Built
1973
Listing Agency:
RE/MAX Results
Listed By:
Sherryl Longacre · License #20120584
(402) 719-4176
Source:
Thatcheromaha
Added: Aug 26
Changed: Oct 6
Last Checked: Oct 7 at 1:24PM
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 RE/MAX Results
Investment Insights
Based on property information with market context.
This 3,270-square-foot duplex was built in 1973 and contains two three-bedroom units. Both residences are leased on a month-to-month basis and include a private covered patio, yard space, and an attached garage. The configuration provides separate living spaces with substantial supporting improvements for occupants and vehicles.
Positioned on a corner lot at 1223-1225 N 66th St in Omaha, the property also includes an oversized detached two-car garage and additional parking. The existing lease structure and multiple garage areas are central features of this residential income property.
Positioned on a corner lot at 1223-1225 N 66th St in Omaha, the property also includes an oversized detached two-car garage and additional parking. The existing lease structure and multiple garage areas are central features of this residential income property.
Key Highlights
- Two three‑bedroom units within a 3,270‑square‑foot duplex
- Both units currently leased month‑to‑month
- Private covered patio and yard space for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,574
Cap Rate
7.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$571,480
$571.5K
Cap Rate 7%
$408,200
$408.2K
Cap Rate 9%
$317,489
$317.5K
Market Conditions
NOI Build-Up for 3,270 SF
Gross rent
$43.9K $13.44/SF
− Vacancy
−$3.1K −$0.96/SF
EGI
$40.8K $12.48/SF
− OpEx
−$12.2K −$3.74/SF
NOI
$28.6K $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 Rate 5%
$571,480
Cap Rate 7%
$408,200
Cap Rate 9%
$317,489
Alternative Uses
Best Use
Multifamily LT 5
$408.2K
$357.2K – $476.2K
NOI $28,574 @ 7.0% cap · market cap 7.83%
Second Best
Apartment 5plus
$376.5K
$329.4K – $439.2K
NOI $26,352 @ 7.0% cap · market cap 7.22%
Theoretical Best
Office A
$860.3K
$752.8K – $1.00M
NOI $60,222 @ 7.0% cap · market cap 16.50%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
270
Businesses Nearby
Explore this area
Business Placement
Demographics for 68132, NE
13,729
Population
6,856
Households
2
Avg Household Size
35
Median Age
63%
College-Educated
94%
High-School Grad
2.6 sq mi
ZIP Area
5,280
Density / Sq Mi
$81,556
Median Household Income
$51,430
Median Earnings
$979
Median Rent
$324,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Fully occupied two-unit property with month-to-month leases, private patios, yard areas, and extensive on-site parking.
Where is this duplex located?
The property is located at 1223 1223-1225 N 66th St Omaha, NE.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Two three‑bedroom units within a 3,270‑square‑foot duplex; Both units currently leased month‑to‑month; Private covered patio and yard space for each unit
