Brick Duplex with Full
New
For Sale
$249,900
1403-09 N Broadwell St, Grand Island, NE 68801
MULTI_FAMILY - Grand Island, NE
Property Size1,740 SF
Lot Size0.25 Acres
Price / SF$143.62
Days on Market4
Property Features for 1403-09 N Broadwell St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 3, Basement, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 4, Bedroom 3, Bedroom 2
Appliances
Refrigerator, Stove
Elementary school
West Lawn
Middle school
Walnut
High school
Grand Island Senior High
Subdivision
NE
Standard status
Active
Size
1,740 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Fraction of Lot 7 & Fractrion of Lot 8 in Fractional Block 8, Gilberts Second Addition to the City of Grand Island, Hall County, Nebraska
Tax Annual Amount
2985
Legal Description
Fraction of Lot 7 & Fractrion of Lot 8 in Fractional Block 8, Gilberts Second Addition to the City of Grand Island, Hall County, Nebraska
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1950
Floors in Building
1
Number of units
2
Roof type
Composition
Architectural style
Ranch
Listing Agency:
New View Real Estate
(308) 381-8240
Listed By:
David Wetherilt
(308) 380-7872
Added: Aug 3
Last Checked: Aug 6 at 10:06PM
MLS# 20262831
Copyright © 2026 Grand Island Board of Realtors. 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 1,740-square-foot duplex at 1403-09 N Broadwell St. includes two residential units, each with two bedrooms. One side has one bathroom, while the other includes one full bathroom and an additional half bath. Full basements extend beneath both units, providing space for storage and laundry. The 1950 property has a brick exterior, composition roofing, and a ranch-style layout. Refrigerators and stoves are included.
The property occupies 0.25 acres in Grand Island, with Abbott Park within walking distance and Super Saver at Five Points nearby. Public water and public sewer serve the building, supporting its existing residential configuration.
The property occupies 0.25 acres in Grand Island, with Abbott Park within walking distance and Super Saver at Five Points nearby. Public water and public sewer serve the building, supporting its existing residential configuration.
Key Highlights
- Two‑unit duplex totaling 1,740 square feet
- One 2‑bedroom, 1‑bath unit and one 2‑bedroom, 1.5‑bath unit
- Full basement beneath each unit
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
$13,160
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
5.27%
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%
$263,200
$263.2K
Cap Rate 7%
$188,000
$188.0K
Cap Rate 9%
$146,222
$146.2K
Market Conditions
NOI Build-Up for 1,740 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
$19.8K $11.40/SF
− Vacancy
−$1.0K −$0.60/SF
EGI
$18.8K $10.80/SF
− OpEx
−$5.6K −$3.24/SF
NOI
$13.2K $7.56/SF
Area
Hall County, NE
Vacancy
5.22%
Lease Rate
$11.40 /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%
$263,200
Cap Rate 7%
$188,000
Cap Rate 9%
$146,222
Alternative Uses
Best Use
Multifamily LT 5
$188.0K
$164.5K – $219.3K
NOI $13,160 @ 7.0% cap · market cap 5.27%
Second Best
Apartment 5plus
$173.6K
$151.9K – $202.6K
NOI $12,155 @ 7.0% cap · market cap 4.86%
Theoretical Best
Office A
$435.5K
$381.0K – $508.0K
NOI $30,482 @ 7.0% cap · market cap 12.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
208
Businesses Nearby
Explore this area
Business Placement
Demographics for 68801, NE
30,440
Population
11,684
Households
2.6
Avg Household Size
34
Median Age
17%
College-Educated
81%
High-School Grad
90.0 sq mi
ZIP Area
338
Density / Sq Mi
$63,214
Median Household Income
$37,995
Median Earnings
$931
Median Rent
$186,600
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?
Duplex - Two ranch-style units provide flexible living arrangements with storage and laundry space below each side.
Where is this duplex located?
The property is located at 1403-09 N Broadwell St Grand Island, NE.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,740 square feet; One 2‑bedroom, 1‑bath unit and one 2‑bedroom, 1.5‑bath unit; Full basement beneath each unit
