Brick Four-Unit
New
For Sale
$365,000
1310 S 31st Street, Omaha, NE 68105
RESIDENTIAL, 2 Story, Omaha, NE
Property Size3,866 SF
Lot Size0.16 Acres
Price / SF$94.41
Days on Market5
Property Features for 1310 S 31st Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
4
Bathrooms
4
Rooms
Bathroom 4, Bedroom 4, Bedroom 3, Bedroom 2, Bathroom 3, Bathroom 1, Bedroom 1, Basement, Bathroom 2
Parking features
Garage - Detached
Subdivision
Hanscom Place
Lot features
Alley
Elementary school
Field Club
Middle school
Norris
High school
Central
Elementary school district
Omaha
Middle school district
Omaha
High school district
Omaha
Directions
ON 31ST AVE - WOOLWORTH & POPPLETON
Standard status
Active
APN
1237180000
Size
3,866 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
HANSCOM PLACE LOT 3 BLOCK 9 E 140 FT 50 X 140
Tax Annual Amount
4565
Legal Description
HANSCOM PLACE LOT 3 BLOCK 9 E 140 FT 50 X 140
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1890
Floors in Building
2
Roof type
Composition
Architectural style
Other
Listing Agency:
Nebraska Realty
(402) 491-0100
Listed By:
Yelena Eveloff · License #20150267
(402) 517-0918
Added: Aug 25
Changed: Aug 28
Last Checked: Aug 29 at 3:06AM
MLS# 22624372
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 two-story brick quadplex contains 3866 square feet and was built in 1890. The property includes four bedrooms, four bathrooms, a basement, forced-air heating, central air conditioning, and a composition roof. A detached garage provides on-site parking, while the 0.16-acre parcel supports the existing residential configuration.
The property is located at 1310 S 31st Street in Omaha, within ZIP Code 68105. It is reported as 100% occupied and includes four residential units, offering an established multifamily format in a central Omaha setting.
The property is located at 1310 S 31st Street in Omaha, within ZIP Code 68105. It is reported as 100% occupied and includes four residential units, offering an established multifamily format in a central Omaha setting.
Key Highlights
- Four‑unit brick quadplex with 100% occupancy
- 3866 square feet on a 0.16‑acre parcel
- Two‑story property built in 1890
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
$31,155
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
8.54%
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%
$623,100
$623.1K
Cap Rate 7%
$445,071
$445.1K
Cap Rate 9%
$346,167
$346.2K
Market Conditions
NOI Build-Up for 3,866 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
$61.2K $15.84/SF
− Vacancy
−$4.6K −$1.19/SF
EGI
$56.6K $14.65/SF
− OpEx
−$25.5K −$6.59/SF
NOI
$31.2K $8.06/SF
Area
Omaha, NE
Vacancy
7.50%
Lease Rate
$15.84 /SF/Yr
Expense Ratio
45.00%
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%
$623,100
Cap Rate 7%
$445,071
Cap Rate 9%
$346,167
Alternative Uses
Best Use
Multifamily LT 5
$482.6K
$422.3K – $563.0K
NOI $33,782 @ 7.0% cap · market cap 9.26%
Second Best
Apartment 5plus
$445.1K
$389.4K – $519.3K
NOI $31,155 @ 7.0% cap · market cap 8.54%
Theoretical Best
Office A
$1.02M
$890.0K – $1.19M
NOI $71,199 @ 7.0% cap · market cap 19.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
606
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?
Quadplex - Two-story income property with full occupancy, central air, forced-air heat, and a detached garage.
Where is this quadplex located?
The property is located at 1310 S 31st Street 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: Four‑unit brick quadplex with 100% occupancy; 3866 square feet on a 0.16‑acre parcel; Two‑story property built in 1890
