Ranch Duplex with Private
For Sale
$670,000
17069 Nicholas St, Omaha, NE 68114
Single-level duplex in Elkhorn Schools with HOA-managed lawn care, snow removal, and trash service.
Property Size4,080 SF
Price / SF$164.22
Days on Market138
Property Features for 17069 Nicholas St
General Information
Standard status
Active
Size
4,080 SF
Property subtype
Residential Income
Additional Details
Average Monthly Rent
$2,500
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$11,807
Amenities
private deck
Building Details
Buildings
1
Construction
ranch
Tenancy
Multi
Listing Agency:
BHHS Ambassador Real Estate
(402) 612-5163
Listed By:
Aaron J Horn · License #20000123
(402) 612-5163
Source:
Exprealty
Added: Mar 28
Changed: Aug 11
Last Checked: Aug 11 at 5:32AM
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 BHHS Ambassador Real Estate
Investment Insights
Based on property information with market context.
This 4,080-square-foot ranch-style duplex includes 8 bedrooms and 8 bathrooms across a 3-year-old property. Granite countertops, a step-in pantry, kitchen appliances, and refrigerators are included. Each side also offers a private deck, while vinyl siding adds to the exterior finish.
The property is located near 168th and West Dodge in Omaha, with shopping and dining nearby. HOA services include lawn care, snow removal, and trash removal, supporting a lower-maintenance ownership profile. Both sides are currently rented, providing an existing residential income setup.
The property is located near 168th and West Dodge in Omaha, with shopping and dining nearby. HOA services include lawn care, snow removal, and trash removal, supporting a lower-maintenance ownership profile. Both sides are currently rented, providing an existing residential income setup.
Key Highlights
- 4,080‑square‑foot duplex with 8 bedrooms and 8 bathrooms
- 3‑year‑old ranch‑style property in Elkhorn Schools
- Granite countertops, step‑in pantry, kitchen appliances, and refrigerators included
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
$35,652
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
5.32%
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%
$713,040
$713.0K
Cap Rate 7%
$509,314
$509.3K
Cap Rate 9%
$396,133
$396.1K
Market Conditions
NOI Build-Up for 4,080 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
$54.8K $13.44/SF
− Vacancy
−$3.9K −$0.96/SF
EGI
$50.9K $12.48/SF
− OpEx
−$15.3K −$3.74/SF
NOI
$35.7K $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%
$713,040
Cap Rate 7%
$509,314
Cap Rate 9%
$396,133
Alternative Uses
Best Use
Multifamily LT 5
$509.3K
$445.7K – $594.2K
NOI $35,652 @ 7.0% cap · market cap 5.32%
Second Best
Apartment 5plus
$469.7K
$411.0K – $548.0K
NOI $32,879 @ 7.0% cap · market cap 4.91%
Theoretical Best
Office A
$1.07M
$939.3K – $1.25M
NOI $75,140 @ 7.0% cap · market cap 11.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,413
Businesses Nearby
Explore this area
Business Placement
Demographics for 68114, NE
18,078
Population
8,437
Households
2.1
Avg Household Size
38
Median Age
52%
College-Educated
97%
High-School Grad
5.8 sq mi
ZIP Area
3,117
Density / Sq Mi
$73,361
Median Household Income
$44,430
Median Earnings
$1,220
Median Rent
$273,100
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?
Duplex - Single-level duplex in Elkhorn Schools with HOA-managed lawn care, snow removal, and trash service.
Where is this duplex located?
The property is located at 17069 Nicholas St Omaha, NE.
What is the asking price?
The asking price for this property is $670,000.
What are key features of this property?
This property features: 4,080‑square‑foot duplex with 8 bedrooms and 8 bathrooms; 3‑year‑old ranch‑style property in Elkhorn Schools; Granite countertops, step‑in pantry, kitchen appliances, and refrigerators included
