2242 Orchard Street Lincoln, NE 68503
DUPLEX - Lincoln, NE
Property Features for 2242 Orchard Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 8
- Bathrooms
- 4
- Rooms
- Bedroom 7, Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 3, Bathroom 4, Bedroom 4, Bedroom 5, Bedroom 8, Bedroom 6, Bathroom 1, Bedroom 3
- Exterior features
- Zero Step Entry
- Standard status
- Active
- APN
- 10-24-208-034-000
- Size
- 3,456 SF
- Lot size
- 0.15 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- ENGLESIDE ADDITION, BLOCK 5, Lot 19
- Tax Annual Amount
- 4870
Utilities
- Heating system
- Forced Air
- Cooling system
- Central Air
Building Details
- Year built
- 2001
- Floors in Building
- 2
- Architectural style
- Other
Listing agent Jeff Ahern (402) 318-6328
Listing office SimpliCity Real Estate 8420 Amber Hill Rd, Lincoln, NE (402) 261-3366
Listing date Jul 14, 2026
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.
Off-street parking is provided in the rear with alley access. The property is located near both campuses in Lincoln, NE, supporting rental-focused use.
Each unit is ready for immediate occupancy or rental, providing a straightforward layout for dual-family ownership or income generation.
Key Highlights
- Purpose‑built duplex built in 2001 with two 4‑bedroom, 2‑bath units
- Recent interior updates including new kitchens and bathrooms, plus new flooring, paint, and fixtures
- Each unit has open main‑floor living with kitchen, dining, and living space, plus abundant storage
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $51.8k | $15.00 |
| − Vacancy | −$2.9k | −$0.83 |
| EGI | $49.0k | $14.17 |
| − OpEx | −$14.7k | −$4.25 |
| NOI | $34.3k | $9.92 |
