Five-Unit Apartment
For Sale
$400,000
1416 O Street, Omaha, NE 68107
Five-unit apartment property with recent unit updates, coin laundry, basement utilities and storage, plus an additional cottage-style unit.
Property Size2,500 SF
Days on Market98
Property Features for 1416 O Street
General Information
Standard status
Active
Size
2,500 SF
Total Parking Spaces
3
Property subtype
Multi Family Home
Additional Details
Gross Income
$54,600
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$4,409
Amenities
coin laundry machines
storage shed
basement storage
Building Details
Building Size
2,500 SF
Year Built
1920
Buildings
2
Units
5
Listing Agency:
Nebraska Realty
(402) 578-9822
Listed By:
Chad Blythe · License #20090393
(402) 578-9822
Source:
Burrowstracts
Added: May 6
Changed: Aug 7
Last Checked: Aug 10 at 11:17AM
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.
This five-unit apartment building offers a mix of unit configurations within one property on a large lot. The main home has been converted into four units, including three units on the main floor and one unit on the second floor. A basement provides additional storage, utilities, and coin laundry machines. The fifth unit is a separate cottage-style home behind the main house.
Most of the units have been recently updated, with unit #3 noted as the exception. Additional parking spaces are available in front of the home, and the property includes a storage shed.
Built in 1920, the property is located at 1416 O Street in Omaha, Nebraska (68107).
Most of the units have been recently updated, with unit #3 noted as the exception. Additional parking spaces are available in front of the home, and the property includes a storage shed.
Built in 1920, the property is located at 1416 O Street in Omaha, Nebraska (68107).
Key Highlights
- Five units: three on the main floor, one on the second floor, plus a cottage‑style unit behind the home
- Coin laundry machines on‑site, with basement storage and utilities
- Most units recently updated; unit #3 noted as not recently updated
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
$23,604
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
5.90%
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%
$472,080
$472.1K
Cap Rate 7%
$337,200
$337.2K
Cap Rate 9%
$262,267
$262.3K
Market Conditions
NOI Build-Up for 2,500 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
$45.9K $18.36/SF
− Vacancy
−$3.0K −$1.19/SF
EGI
$42.9K $17.17/SF
− OpEx
−$19.3K −$7.72/SF
NOI
$23.6K $9.44/SF
Area
ZIP 68107
Vacancy
6.50%
Lease Rate
$18.36 /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%
$472,080
Cap Rate 7%
$337,200
Cap Rate 9%
$262,267
Alternative Uses
Best Use
Apartment 5plus
$337.2K
$295.1K – $393.4K
NOI $23,604 @ 7.0% cap · market cap 5.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$652.5K
$570.9K – $761.3K
NOI $45,675 @ 7.0% cap · market cap 11.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
425
Businesses Nearby
Explore this area
Business Placement
Demographics for 68107, NE
31,064
Population
10,253
Households
3
Avg Household Size
29
Median Age
9%
College-Educated
64%
High-School Grad
6.6 sq mi
ZIP Area
4,707
Density / Sq Mi
$59,988
Median Household Income
$34,804
Median Earnings
$1,015
Median Rent
$142,900
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?
Apartment building - Five-unit apartment property with recent unit updates, coin laundry, basement utilities and storage, plus an additional cottage-style unit.
Where is this apartment building located?
The property is located at 1416 O Street Omaha, NE.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Five units: three on the main floor, one on the second floor, plus a cottage‑style unit behind the home; Coin laundry machines on‑site, with basement storage and utilities; Most units recently updated; unit #3 noted as not recently updated
