Updated Two-Unit
New
For Sale
$282,500
1715-1717 K Avenue, Kearney, NE 68847
Separate entrances, refreshed kitchens, and individual climate systems support the property's two-unit rental configuration.
Property Size2,600 SF
Price / SF$108.65
Days on Market2
Property Features for 1715-1717 K Avenue
General Information
Standard status
Active
Size
2,600 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1940
Tenancy
Multi
Listing Agency:
Rooted Realty Group
Listed By:
Wendy Kreis · License #339
Source:
Rootedrealtyne
Added: Sep 26
Last Checked: Sep 26 at 3:28PM
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 Rooted Realty Group
Investment Insights
Based on property information with market context.
This duplex contains two separately arranged residences totaling 2,600 square feet. The main-floor unit has three bedrooms, one bathroom, an open layout, washer/dryer hookups, and a stove. The lower-level apartment includes two bedrooms, one bathroom, an extra flexible room, laundry hookups, a stove, refrigerator, and dishwasher. Kitchens have been updated in both units, and the lower-level flooring was replaced in 2022.
Both furnaces and air conditioning systems were replaced in 2023. The basement apartment and foundation date to 2007, while the roof was replaced in 2017. A lift station was installed in summer 2026. The property was built in 1940 and is located at 1715-1717 K Avenue in Kearney, Nebraska.
The residences are currently occupied by month-to-month tenants. Showings require 24 hours' notice.
Both furnaces and air conditioning systems were replaced in 2023. The basement apartment and foundation date to 2007, while the roof was replaced in 2017. A lift station was installed in summer 2026. The property was built in 1940 and is located at 1715-1717 K Avenue in Kearney, Nebraska.
The residences are currently occupied by month-to-month tenants. Showings require 24 hours' notice.
Key Highlights
- Two‑unit duplex with 2,600 square feet
- Main‑floor unit: 3 bedrooms, 1 bathroom, open layout, and washer/dryer hookups
- Lower‑level unit: 2 bedrooms, 1 bathroom, flexible room, and washer/dryer hookups
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
$17,682
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
6.26%
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%
$353,640
$353.6K
Cap Rate 7%
$252,600
$252.6K
Cap Rate 9%
$196,467
$196.5K
Market Conditions
NOI Build-Up for 2,600 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
$26.5K $10.20/SF
− Vacancy
−$1.3K −$0.48/SF
EGI
$25.3K $9.72/SF
− OpEx
−$7.6K −$2.91/SF
NOI
$17.7K $6.80/SF
Area
Buffalo County, NE
Vacancy
4.75%
Lease Rate
$10.20 /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%
$353,640
Cap Rate 7%
$252,600
Cap Rate 9%
$196,467
Alternative Uses
Best Use
Multifamily LT 5
$252.6K
$221.0K – $294.7K
NOI $17,682 @ 7.0% cap · market cap 6.26%
Second Best
Apartment 5plus
$232.9K
$203.8K – $271.7K
NOI $16,302 @ 7.0% cap · market cap 5.77%
Theoretical Best
Healthcare Medical
$488.0K
$427.0K – $569.4K
NOI $34,161 @ 7.0% cap · market cap 12.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
96
Businesses Nearby
Explore this area
Business Placement
Demographics for 68847, NE
18,458
Population
7,751
Households
2.4
Avg Household Size
37
Median Age
35%
College-Educated
94%
High-School Grad
109.6 sq mi
ZIP Area
168
Density / Sq Mi
$74,877
Median Household Income
$41,263
Median Earnings
$951
Median Rent
$229,200
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 - Separate entrances, refreshed kitchens, and individual climate systems support the property's two-unit rental configuration.
Where is this duplex located?
The property is located at 1715-1717 K Avenue Kearney, NE.
What is the asking price?
The asking price for this property is $282,500.
What are key features of this property?
This property features: Two‑unit duplex with 2,600 square feet; Main‑floor unit: 3 bedrooms, 1 bathroom, open layout, and washer/dryer hookups; Lower‑level unit: 2 bedrooms, 1 bathroom, flexible room, and washer/dryer hookups
