Multifamily Property with Fenced
New
For Sale
$190,000
1915 6th Avenue, Kearney, NE 68845
Fully rented multifamily property with separately metered electric service and alley access.
Property Size2,072 SF
Price / SF$91.70
Days on Market7
Property Features for 1915 6th Avenue
General Information
Standard status
Active
Size
2,072 SF
Property subtype
Multi-Family
Occupancy
100%
Amenities
washer/dryer
Building Details
Year Built
1947
Listing Agency:
Coldwell Banker Town & Country
(308) 236-5466
Listed By:
Jamie Bollwitt · License #117
Source:
Rootedrealtyne
Added: Aug 24
Changed: Aug 30
Last Checked: Aug 30 at 12:13AM
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 Coldwell Banker Town & Country
Investment Insights
Based on property information with market context.
Built in 1947, this multifamily property at 1915 6th Avenue in Kearney, Nebraska, has all units currently rented. Each unit includes a washer and dryer, while electric service is separately metered. The owner pays for water and trash service.
The property includes alley access and a fenced area at the rear. Property access requires 24-hour notice, providing a clear scheduling requirement for tours and inspections.
The property includes alley access and a fenced area at the rear. Property access requires 24-hour notice, providing a clear scheduling requirement for tours and inspections.
Key Highlights
- All units currently rented
- Built in 1947
- Washer and dryer included in 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
$12,991
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
6.84%
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%
$259,820
$259.8K
Cap Rate 7%
$185,586
$185.6K
Cap Rate 9%
$144,344
$144.3K
Market Conditions
NOI Build-Up for 2,072 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
$24.9K $12.00/SF
− Vacancy
−$1.2K −$0.60/SF
EGI
$23.6K $11.40/SF
− OpEx
−$10.6K −$5.13/SF
NOI
$13.0K $6.27/SF
Area
Buffalo County, NE
Vacancy
5.00%
Lease Rate
$12.00 /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%
$259,820
Cap Rate 7%
$185,586
Cap Rate 9%
$144,344
Alternative Uses
Best Use
Apartment 5plus
$185.6K
$162.4K – $216.5K
NOI $12,991 @ 7.0% cap · market cap 6.84%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$388.9K
$340.3K – $453.7K
NOI $27,224 @ 7.0% cap · market cap 14.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
739
Businesses Nearby
Explore this area
Business Placement
Demographics for 68845, NE
20,304
Population
9,057
Households
2.2
Avg Household Size
33
Median Age
41%
College-Educated
94%
High-School Grad
123.7 sq mi
ZIP Area
164
Density / Sq Mi
$75,350
Median Household Income
$39,232
Median Earnings
$896
Median Rent
$274,200
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?
Multifamily property - Fully rented multifamily property with separately metered electric service and alley access.
Where is this multifamily property located?
The property is located at 1915 6th Avenue Kearney, NE.
What is the asking price?
The asking price for this property is $190,000.
What are key features of this property?
This property features: All units currently rented; Built in 1947; Washer and dryer included in each unit
