5-Unit Townhome
New
For Sale
$895,000
2720-2720 N 1st St, Lincoln, NE 68508
An occupied residential asset offers a mix of three- and four-bedroom layouts, with garages in three units.
Property Size3,362 SF
Price / SF$266.21
Days on Market7
Property Features for 2720-2720 N 1st St
General Information
Standard status
Active
Size
3,362 SF
Property subtype
Residential Income
Site & Location
Neighborhood
Tri-Court
Taxes and HOA fees
Annual Taxes
$8,615
Listing Agency:
Realty ONE Group Sterling
(402) 934-0074
Listed By:
Wyatt Simon · License #20240314
(402) 940-8484
Source:
Exprealty
Added: Oct 21
Changed: Oct 27
Last Checked: Oct 27 at 3:49AM
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 Realty ONE Group Sterling
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 2003, this five-unit apartment property is configured as townhomes. Two units have four bedrooms and two bathrooms each, and neither has a garage. The other three units each contain three bedrooms, two bathrooms, and a garage. The property is occupied.
The address is approximately eight minutes from Downtown Lincoln, Memorial Stadium, and the historic Haymarket district.
The address is approximately eight minutes from Downtown Lincoln, Memorial Stadium, and the historic Haymarket district.
Key Highlights
- Five townhome units built in 2003
- Two 4‑bedroom, 2‑bath units without garages
- Three 3‑bedroom, 2‑bath units, each with a garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,987
Cap Rate
3.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$619,740
$619.7K
Cap Rate 7%
$442,671
$442.7K
Cap Rate 9%
$344,300
$344.3K
Market Conditions
NOI Build-Up for 3,362 SF
Gross rent
$59.3K $17.64/SF
− Vacancy
−$3.0K −$0.88/SF
EGI
$56.3K $16.76/SF
− OpEx
−$25.4K −$7.54/SF
NOI
$31.0K $9.22/SF
Area
Lincoln, NE
Vacancy
5.00%
Lease Rate
$17.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$619,740
Cap Rate 7%
$442,671
Cap Rate 9%
$344,300
Alternative Uses
Best Use
Apartment 5plus
$442.7K
$387.3K – $516.5K
NOI $30,987 @ 7.0% cap · market cap 3.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$824.2K
$721.2K – $961.6K
NOI $57,695 @ 7.0% cap · market cap 6.45%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
127
Businesses Nearby
Explore this area
Business Placement
Demographics for 68508, NE
17,249
Population
7,076
Households
2.4
Avg Household Size
24
Median Age
35%
College-Educated
90%
High-School Grad
3.0 sq mi
ZIP Area
5,750
Density / Sq Mi
$33,561
Median Household Income
$10,349
Median Earnings
$760
Median Rent
$121,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - An occupied residential asset offers a mix of three- and four-bedroom layouts, with garages in three units.
Where is this apartment building located?
The property is located at 2720-2720 N 1st St Lincoln, NE.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Five townhome units built in 2003; Two 4‑bedroom, 2‑bath units without garages; Three 3‑bedroom, 2‑bath units, each with a garage
