Duplexes with New
For Sale
$425,000
2127-2129 S 46th Avenue, Omaha, NE 68106
Professionally managed properties include lawn care, snow removal, and repairs as part of the rental arrangement.
Property Size2,400 SF
Days on Market8
Property Features for 2127-2129 S 46th Avenue
General Information
Standard status
Active
Size
2,400 SF
Total Parking Spaces
6
Property subtype
Multi Family Home
Taxes and HOA fees
Annual Taxes
$6,743
Building Details
Building Size
2,400 SF
Year Built
1986
Buildings
2
Units
2
Listing Agency:
Nebraska Realty
(402) 660-8780
Listed By:
David Hubert
(402) 660-8780
Source:
Burrowstracts
Added: Aug 17
Changed: Aug 22
Last Checked: Aug 23 at 12:47PM
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 offering includes two duplex properties at 2127-2129 S 46th Avenue and 2133-2135 S 46th Avenue, with the option to acquire them together or separately. The buildings were constructed in 1986 and benefit from new roofs installed in 2022. Property management is in place, with lawn care, snow removal, and repairs included in the rental arrangement.
Unit 2129 received a furnace and air-conditioning replacement in 2022, along with a new deck and stairs in 2025. Unit 2127 has a new furnace and air-conditioning system installed in 2025. Approximately 50% of the siding at 2127-2129 has been replaced. The properties are near the VA, UNMC, shopping, and other amenities, and both share a driveway.
Unit 2129 received a furnace and air-conditioning replacement in 2022, along with a new deck and stairs in 2025. Unit 2127 has a new furnace and air-conditioning system installed in 2025. Approximately 50% of the siding at 2127-2129 has been replaced. The properties are near the VA, UNMC, shopping, and other amenities, and both share a driveway.
Key Highlights
- Two duplexes at 2127‑2129 S 46th Avenue and 2133‑2135 S 46th Avenue
- Properties may be purchased together or separately
- New roofs installed on both duplexes in 2022
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
$20,972
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
4.93%
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%
$419,440
$419.4K
Cap Rate 7%
$299,600
$299.6K
Cap Rate 9%
$233,022
$233.0K
Market Conditions
NOI Build-Up for 2,400 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
$32.3K $13.44/SF
− Vacancy
−$2.3K −$0.96/SF
EGI
$30.0K $12.48/SF
− OpEx
−$9.0K −$3.74/SF
NOI
$21.0K $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%
$419,440
Cap Rate 7%
$299,600
Cap Rate 9%
$233,022
Alternative Uses
Best Use
Multifamily LT 5
$299.6K
$262.2K – $349.5K
NOI $20,972 @ 7.0% cap · market cap 4.93%
Second Best
Apartment 5plus
$276.3K
$241.8K – $322.4K
NOI $19,341 @ 7.0% cap · market cap 4.55%
Theoretical Best
Office A
$631.4K
$552.5K – $736.7K
NOI $44,200 @ 7.0% cap · market cap 10.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
756
Businesses Nearby
Explore this area
Business Placement
Demographics for 68106, NE
21,871
Population
10,935
Households
2
Avg Household Size
34
Median Age
48%
College-Educated
94%
High-School Grad
5.2 sq mi
ZIP Area
4,206
Density / Sq Mi
$70,649
Median Household Income
$46,958
Median Earnings
$1,234
Median Rent
$202,900
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?
Duplex - Professionally managed properties include lawn care, snow removal, and repairs as part of the rental arrangement.
Where is this duplex located?
The property is located at 2127-2129 S 46th Avenue Omaha, NE.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Two duplexes at 2127‑2129 S 46th Avenue and 2133‑2135 S 46th Avenue; Properties may be purchased together or separately; New roofs installed on both duplexes in 2022
