1365 S 40th Street, Lincoln, NE 68510
- Added:
- Apr 17, 2026
- Days on Market:
- 78
- Last Refresh:
- Jul 3 at 5:06 pm
Property Features for 1365 S 40th Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 1, Laundry Room, Basement
- Patio and Porch features
- Porch
- Interior features
- Cable Available
- Exterior features
- Porch
- Appliances
- Range - Cooktop + Oven, Refrigerator
- Standard status
- Active
- APN
- 17-30-427-002-000
- Size
- 1,980 SF
- Lot size
- 0.19 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- BROWNBILT SECOND ADDITION, BLOCK 8, Lot 2
- Tax Annual Amount
- 3380
Utilities
- Utilities
- Cable Available
- Heating system
- Forced Air
- Cooling system
- Central Air
Building Details
- Year built
- 1950
- Floors in Building
- 2
- Flooring type
- Wood, Vinyl
- Roof type
- Composition
- Architectural style
- Other
Listing agent Mark Faatz (402) 575-1914
Listing office Nebraska Realty 7321 Plaza Ct, Lincoln, NE (402) 413-8000
Listing date Apr 17, 2026
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.
HighLights
- Well‑maintained brick duplex built in 1950 with 2 bedrooms and 1 bath on each side
- Two‑car detached garage
- Central air cooling and forced‑air heating
- Includes porch, formal dining room, and bright kitchen on each unit
- Lower level has a laundry room
- Appliances include range (cooktop + oven) and refrigerator; cable available
Overview
The property is located close to restaurants and shopping in Lincoln, Nebraska. With a lot size of 0.19 acres and a total property size of 1,980 square feet, the layout is designed for straightforward, manageable residential occupancy. One side of the duplex is currently rented.
For buyers seeking a residential income property with independent, repeatable floorplans, this brick duplex offers a practical option with clear unit separation and an easy-to-understand layout. With one side already rented and the other side currently vacant, it may be well-suited for an owner-occupant or an investor looking for a duplex that can be leased on a similar basis across both units.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $29.7k | $15.00 |
| − Vacancy | −$1.6k | −$0.83 |
| EGI | $28.1k | $14.17 |
| − OpEx | −$8.4k | −$4.25 |
| NOI | $19.6k | $9.92 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Lincoln
- County
- Lancaster
- State
- Nebraska
- Longitude
- -96.66362
- Latitude
- 40.7995
