Solid Brick Four-Unit
For Sale
$385,000
1310 S 31st Street, Omaha, NE 68105
DUPLEX - Omaha, NE
Property Size3,866 SF
Lot Size0.16 Acres
Price / SF$99.59
Days on Market15
Property Features for 1310 S 31st Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
4
Bathrooms
4
Rooms
Basement, Bathroom 2, Bathroom 1, Bathroom 3, Bedroom 1, Bedroom 4, Bathroom 4, Bedroom 2, Bedroom 3
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: Jul 29
Changed: Aug 11
Last Checked: Aug 12 at 10:06PM
MLS# 22621525
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.
Solid brick four-unit multifamily property with 100% occupancy. The building includes bedrooms and multiple bathrooms across its units, plus a basement. Heating is forced air and cooling is central air. The roof is composition, and parking is provided with a detached garage.
The property is located at 1310 S 31st Street in Omaha, Douglas County, Nebraska (68105). The lot size is 0.16 acres and the property size is 3,866 SF, with a year built of 1890.
For additional information on any recent improvements referenced in the available materials, review the association documents. This asset is positioned for renters seeking a multi-unit setup in a maintained, occupied structure.
The property is located at 1310 S 31st Street in Omaha, Douglas County, Nebraska (68105). The lot size is 0.16 acres and the property size is 3,866 SF, with a year built of 1890.
For additional information on any recent improvements referenced in the available materials, review the association documents. This asset is positioned for renters seeking a multi-unit setup in a maintained, occupied structure.
Key Highlights
- 100% occupied solid brick four‑unit multifamily
- Forced air heating and central air cooling
- Detached garage parking
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
$33,782
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
8.77%
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%
$675,640
$675.6K
Cap Rate 7%
$482,600
$482.6K
Cap Rate 9%
$375,356
$375.4K
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
$52.0K $13.44/SF
− Vacancy
−$3.7K −$0.96/SF
EGI
$48.3K $12.48/SF
− OpEx
−$14.5K −$3.74/SF
NOI
$33.8K $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%
$675,640
Cap Rate 7%
$482,600
Cap Rate 9%
$375,356
Alternative Uses
Best Use
Multifamily LT 5
$482.6K
$422.3K – $563.0K
NOI $33,782 @ 7.0% cap · market cap 8.77%
Second Best
Apartment 5plus
$445.1K
$389.4K – $519.3K
NOI $31,155 @ 7.0% cap · market cap 8.09%
Theoretical Best
Office A
$1.02M
$890.0K – $1.19M
NOI $71,199 @ 7.0% cap · market cap 18.49%
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
378
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Solid brick four-unit multifamily with central air, forced-air heat, and detached garage on a compact Omaha lot.
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 $385,000.
What are key features of this property?
This property features: 100% occupied solid brick four‑unit multifamily; Forced air heating and central air cooling; Detached garage parking
