Two-Story Duplex with Finished Lower
For Sale
$275,000
20213 Veterans Drive, Omaha, NE 68022
RESIDENTIAL, 2 Story, Omaha, NE
Property Size1,898 SF
Lot Size0.13 Acres
Price / SF$144.89
Days on Market14
Property Features for 20213 Veterans Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
3
Full bathrooms
1
Half bathrooms
1
Rooms
Bedroom 2, Bathroom 1, Bedroom 4, Basement, Bedroom 3, Bathroom 2, Bathroom 3, Bedroom 1
Parking features
Garage - Attached
Patio and Porch features
Patio, Porch
Exterior features
Patio, Porch
Fireplace
1
Appliances
Dishwasher, Dryer, Microwave, Range, Refrigerator, Washer
Subdivision
HIGH POINT
Elementary school
West Dodge Station
Middle school
Elk Grand
High school
Elkhorn
Elementary school district
Elkhorn
Middle school district
Elkhorn
High school district
Elkhorn
Directions
From West Dodge Road: north on N 204th St, right onto Veterans Dr and property will be on the right.
Standard status
Active
APN
1307800354
Size
1,898 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
HIGH POINT LOT 13 BLOCK 0
Tax Annual Amount
2698
Legal Description
HIGH POINT LOT 13 BLOCK 0
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1998
Floors in Building
2
Architectural style
Other
Listing Agency:
Milford Real Estate
(402) 880-0202
Listed By:
Tony Terp · License #20200594
(402) 301-1658
Added: Aug 11
Changed: Aug 20
Last Checked: Aug 24 at 5:06AM
MLS# 22622898
Copyright © 2026 Great Plains Regional MLS. 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 two-story duplex property contains 1,898 square feet with four bedrooms, three bathrooms, and a finished lower level. The main floor connects living and dining areas with the kitchen, while the lower level adds flexible interior space. A patio, porch, fireplace, and attached garage are included. The home was built in 1998 and uses forced-air heating with central air conditioning.
The property sits on a 0.13-acre lot at 20213 Veterans Drive in Omaha, within the Elkhorn School District. Public remarks identify nearby parks, shopping, dining, and major commuter routes. Kitchen appliances include a range, refrigerator, dishwasher, microwave, washer, and dryer.
The property sits on a 0.13-acre lot at 20213 Veterans Drive in Omaha, within the Elkhorn School District. Public remarks identify nearby parks, shopping, dining, and major commuter routes. Kitchen appliances include a range, refrigerator, dishwasher, microwave, washer, and dryer.
Key Highlights
- 1,898 square feet with 4 bedrooms and 3 bathrooms
- Finished lower level with additional living space
- 0.13‑acre lot with patio and porch
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
$16,585
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
6.03%
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%
$331,700
$331.7K
Cap Rate 7%
$236,929
$236.9K
Cap Rate 9%
$184,278
$184.3K
Market Conditions
NOI Build-Up for 1,898 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
$25.5K $13.44/SF
− Vacancy
−$1.8K −$0.96/SF
EGI
$23.7K $12.48/SF
− OpEx
−$7.1K −$3.74/SF
NOI
$16.6K $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%
$331,700
Cap Rate 7%
$236,929
Cap Rate 9%
$184,278
Alternative Uses
Best Use
Multifamily LT 5
$236.9K
$207.3K – $276.4K
NOI $16,585 @ 7.0% cap · market cap 6.03%
Second Best
Apartment 5plus
$218.5K
$191.2K – $254.9K
NOI $15,295 @ 7.0% cap · market cap 5.56%
Theoretical Best
Office A
$499.4K
$436.9K – $582.6K
NOI $34,955 @ 7.0% cap · market cap 12.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
571
Businesses Nearby
Explore this area
Business Placement
Demographics for 68022, NE
30,996
Population
12,521
Households
2.5
Avg Household Size
35
Median Age
64%
College-Educated
99%
High-School Grad
38.0 sq mi
ZIP Area
816
Density / Sq Mi
$139,713
Median Household Income
$70,971
Median Earnings
$1,404
Median Rent
$452,800
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 - Two-story property with an open main level, finished lower level, patio, porch, and attached garage.
Where is this duplex located?
The property is located at 20213 Veterans Drive Omaha, NE.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 1,898 square feet with 4 bedrooms and 3 bathrooms; Finished lower level with additional living space; 0.13‑acre lot with patio and porch
