Four-Unit Multifamily
For Sale
$462,000
5148 Dodge St, Omaha, NE 68132
Separate residential units create a multi-tenant configuration near major thoroughfares in Omaha.
Property Size3,468 SF
Price / SF$133.22
Days on Market16
Property Features for 5148 Dodge St
General Information
Standard status
Active
Size
3,468 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
4
Building Details
Year Built
1924
Listing Agency:
Nebraska Realty
(402) 850-9906
Listed By:
Katherine Benak
Source:
Thatcheromaha
Added: Aug 16
Changed: Aug 29
Last Checked: Aug 30 at 8:50PM
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 Nebraska Realty
Investment Insights
Based on property information with market context.
Located at 5148 Dodge St in Omaha, this multifamily property contains 3,468 square feet and four separate residential units. Constructed in 1924, the building offers a distinct multi-unit layout within an established residential setting.
The property provides access to major thoroughfares, shopping, dining, entertainment, and employment centers. Its Omaha location and four-unit configuration support a straightforward residential income property profile for buyers seeking multiple units within one building.
The property provides access to major thoroughfares, shopping, dining, entertainment, and employment centers. Its Omaha location and four-unit configuration support a straightforward residential income property profile for buyers seeking multiple units within one building.
Key Highlights
- Four separate residential units in one multifamily property
- 3,468 square feet of building area
- Built in 1924
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
$30,304
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
6.56%
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%
$606,080
$606.1K
Cap Rate 7%
$432,914
$432.9K
Cap Rate 9%
$336,711
$336.7K
Market Conditions
NOI Build-Up for 3,468 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
$46.6K $13.44/SF
− Vacancy
−$3.3K −$0.96/SF
EGI
$43.3K $12.48/SF
− OpEx
−$13.0K −$3.74/SF
NOI
$30.3K $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%
$606,080
Cap Rate 7%
$432,914
Cap Rate 9%
$336,711
Alternative Uses
Best Use
Multifamily LT 5
$432.9K
$378.8K – $505.1K
NOI $30,304 @ 7.0% cap · market cap 6.56%
Second Best
Apartment 5plus
$399.2K
$349.3K – $465.8K
NOI $27,947 @ 7.0% cap · market cap 6.05%
Theoretical Best
Office A
$912.4K
$798.4K – $1.06M
NOI $63,869 @ 7.0% cap · market cap 13.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,000
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
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 - Separate residential units create a multi-tenant configuration near major thoroughfares in Omaha.
Where is this quadplex located?
The property is located at 5148 Dodge St Omaha, NE.
What is the asking price?
The asking price for this property is $462,000.
What are key features of this property?
This property features: Four separate residential units in one multifamily property; 3,468 square feet of building area; Built in 1924
