Two-Unit Duplex with Full
New
For Sale
$140,000
2922 Apple Street, Lincoln, NE 68503
Two distinct apartment layouts include a private enclosed porch and shared basement storage and laundry.
Property Size1,308 SF
Price / SF$107.03
Days on Market3
Property Features for 2922 Apple Street
General Information
Standard status
Active
Size
1,308 SF
Property subtype
Multi-Family
Occupancy
100%
Site & Location
Neighborhood
Clinton
Public Transit
Yes
Units
Unit Mix
2-bedroom, 1-bath, 1-bedroom, 1-bath
Multifamily Units
2
Additional Details
Tenant in Place
Yes
Building Details
Year Built
1920
Tenancy
Multi
Listing Agency:
Synergy Real Estate & Dev Corp
Listed By:
Heidi Cline
(402) 350-9494
Source:
Tenaciousrealty
Added: Nov 4
Last Checked: Nov 4 at 9:48AM
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 Synergy Real Estate & Dev Corp
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Investment Insights
Based on property information with market context.
This duplex contains two apartments with separate layouts. The upper-level residence has two bedrooms and one bathroom, while the main-floor unit offers one bedroom, one bathroom, and an enclosed front porch. Interior updates were completed in 2020. A full basement provides storage and laundry space, and the property has a compact yard.
The building dates to 1920 and is near the University of Nebraska–Lincoln campus, retail shops, and bus stops. The two units total 1,308 square feet. One is leased month-to-month; the other has a lease extending through next year.
The building dates to 1920 and is near the University of Nebraska–Lincoln campus, retail shops, and bus stops. The two units total 1,308 square feet. One is leased month-to-month; the other has a lease extending through next year.
Key Highlights
- Two apartments: one with 2 bedrooms and 1 bathroom; the other with 1 bedroom and 1 bathroom
- Interior updated in 2020
- 1,308‑square‑foot building constructed in 1920
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,056
Cap Rate
8.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$241,120
$241.1K
Cap Rate 7%
$172,229
$172.2K
Cap Rate 9%
$133,956
$134.0K
Market Conditions
NOI Build-Up for 1,308 SF
Gross rent
$23.1K $17.64/SF
− Vacancy
−$1.2K −$0.88/SF
EGI
$21.9K $16.76/SF
− OpEx
−$9.9K −$7.54/SF
NOI
$12.1K $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%
$241,120
Cap Rate 7%
$172,229
Cap Rate 9%
$133,956
Alternative Uses
Best Use
Multifamily LT 5
$185.4K
$162.2K – $216.3K
NOI $12,979 @ 7.0% cap · market cap 9.27%
Second Best
Apartment 5plus
$172.2K
$150.7K – $200.9K
NOI $12,056 @ 7.0% cap · market cap 8.61%
Theoretical Best
Office A
$320.7K
$280.6K – $374.1K
NOI $22,447 @ 7.0% cap · market cap 16.03%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
644
Businesses Nearby
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Business Placement
Demographics for 68503, NE
15,064
Population
6,851
Households
2.2
Avg Household Size
28
Median Age
38%
College-Educated
82%
High-School Grad
2.9 sq mi
ZIP Area
5,194
Density / Sq Mi
$50,886
Median Household Income
$27,909
Median Earnings
$974
Median Rent
$158,900
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 distinct apartment layouts include a private enclosed porch and shared basement storage and laundry.
Where is this duplex located?
The property is located at 2922 Apple Street Lincoln, NE.
What is the asking price?
The asking price for this property is $140,000.
What are key features of this property?
This property features: Two apartments: one with 2 bedrooms and 1 bathroom; the other with 1 bedroom and 1 bathroom; Interior updated in 2020; 1,308‑square‑foot building constructed in 1920
