Duplex with Separate
New
For Sale
$204,500
2531 S 37th Street, Lincoln, NE 68506
RESIDENTIAL, 1.0 Story/Ranch, Lincoln, NE
Property Size1,640 SF
Lot Size0.17 Acres
Price / SF$124.70
Days on Market2
Property Features for 2531 S 37th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 2, Bathroom 1, Bathroom 2, Basement, Bedroom 1, Bedroom 4
Parking features
Off Street
Exterior features
Storage Shed
Subdivision
South Lincoln - CVDU
Elementary school
Sheridan
Middle school
Irving
High school
Lincoln Southeast
Elementary school district
Lincoln Public Schools
Middle school district
Lincoln Public Schools
High school district
Lincoln Public Schools
Directions
See Google Maps
Standard status
Active
APN
17-31-412-010-000
Size
1,640 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
HANSON TERRACE, BLOCK 1, Lot 10
Tax Annual Amount
3559
Legal Description
HANSON TERRACE, BLOCK 1, Lot 10
Utilities
Heating system
Forced Air
Cooling system
Central Air
Amenities
in-unit laundry
off-street parking
exterior storage
Building Details
Year built
1962
Floors in Building
1
Roof type
Composition
Architectural style
Ranch
Additional Structures
Storage
Listing Agency:
BancWise Realty
(402) 323-6777
Listed By:
Andrew McNeely
(402) 540-1689
Added: Nov 5
Last Checked: Nov 6 at 9:06AM
MLS# 22631697
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.
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Investment Insights
Based on property information with market context.
This 1,640-square-foot duplex contains two units, each with its own laundry. Recent interior updates include fresh paint and new carpet in the upper unit. The property also has a storage shed, forced-air heating, central air, and a composition roof. Built in 1962, the ranch-style building sits on a 0.17-acre lot.
Off-street parking is provided for residents. The property is located in Lincoln, Nebraska.
Off-street parking is provided for residents. The property is located in Lincoln, Nebraska.
Key Highlights
- Two‑unit duplex with separate laundry in each residence
- 1,640 square feet on a 0.17‑acre lot
- New carpet in the upper unit and recent paint
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,273
Cap Rate
7.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$325,460
$325.5K
Cap Rate 7%
$232,471
$232.5K
Cap Rate 9%
$180,811
$180.8K
Market Conditions
NOI Build-Up for 1,640 SF
Gross rent
$24.6K $15.00/SF
− Vacancy
−$1.4K −$0.83/SF
EGI
$23.2K $14.17/SF
− OpEx
−$7.0K −$4.25/SF
NOI
$16.3K $9.92/SF
Area
Lincoln, NE
Vacancy
5.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$325,460
Cap Rate 7%
$232,471
Cap Rate 9%
$180,811
Alternative Uses
Best Use
Multifamily LT 5
$232.5K
$203.4K – $271.2K
NOI $16,273 @ 7.0% cap · market cap 7.96%
Second Best
Apartment 5plus
$215.9K
$189.0K – $251.9K
NOI $15,116 @ 7.0% cap · market cap 7.39%
Theoretical Best
Office A
$402.1K
$351.8K – $469.1K
NOI $28,144 @ 7.0% cap · market cap 13.76%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
568
Businesses Nearby
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Business Placement
Demographics for 68506, NE
28,203
Population
13,044
Households
2.2
Avg Household Size
40
Median Age
45%
College-Educated
96%
High-School Grad
7.0 sq mi
ZIP Area
4,029
Density / Sq Mi
$70,501
Median Household Income
$41,755
Median Earnings
$1,147
Median Rent
$245,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two residences each have dedicated off-street parking and exterior storage.
Where is this duplex located?
The property is located at 2531 S 37th Street Lincoln, NE.
What is the asking price?
The asking price for this property is $204,500.
What are key features of this property?
This property features: Two‑unit duplex with separate laundry in each residence; 1,640 square feet on a 0.17‑acre lot; New carpet in the upper unit and recent paint
