Remodeled Side-by-Side
New
For Sale
$259,900
3069 T Street, Lincoln, NE 68503
Two updated residences offer separate utilities, private laundry hookups, outdoor space, and shared access to a detached garage.
Property Size1,321 SF
Price / SF$196.74
Days on Market2
Property Features for 3069 T Street
General Information
Standard status
Active
Size
1,321 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Amenities
washer/dryer hookups
big yard
covered back porches
central air conditioning
Building Details
Year Built
1981
Buildings
1
Listing Agency:
Location Real Estate
Listed By:
Heidi Cline
(402) 350-9494
Source:
Tenaciousrealty
Added: Sep 13
Last Checked: Sep 14 at 9:36AM
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 Location Real Estate
Investment Insights
Based on property information with market context.
Built in 1981, this 1,321-square-foot side-by-side duplex contains two remodeled residences, each with 2 bedrooms and 1 bathroom. Both units include washer/dryer hookups, separate gas and electric utilities, open living areas, updated flooring, recessed lighting, refreshed bathrooms, and kitchens with sage cabinetry, butcher block-style countertops, and stainless steel appliances.
Recent property improvements include new windows, siding, roofing, gutters, plumbing, electrical wiring and panels, two water heaters, furnaces, and central air conditioning units. One residence has a basement and the other includes a crawl space. Exterior features include a large yard, two covered rear porches, a detached two-car garage, and additional alley-accessed parking.
Recent property improvements include new windows, siding, roofing, gutters, plumbing, electrical wiring and panels, two water heaters, furnaces, and central air conditioning units. One residence has a basement and the other includes a crawl space. Exterior features include a large yard, two covered rear porches, a detached two-car garage, and additional alley-accessed parking.
Key Highlights
- Purpose‑built side‑by‑side duplex with two 2‑bedroom, 1‑bath units
- 1,321 square feet; built in 1981
- Separate gas and electric utilities for each residence
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
$13,108
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
5.04%
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%
$262,160
$262.2K
Cap Rate 7%
$187,257
$187.3K
Cap Rate 9%
$145,644
$145.6K
Market Conditions
NOI Build-Up for 1,321 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
$19.8K $15.00/SF
− Vacancy
−$1.1K −$0.83/SF
EGI
$18.7K $14.17/SF
− OpEx
−$5.6K −$4.25/SF
NOI
$13.1K $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 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%
$262,160
Cap Rate 7%
$187,257
Cap Rate 9%
$145,644
Alternative Uses
Best Use
Multifamily LT 5
$187.3K
$163.9K – $218.5K
NOI $13,108 @ 7.0% cap · market cap 5.04%
Second Best
Apartment 5plus
$173.9K
$152.2K – $202.9K
NOI $12,176 @ 7.0% cap · market cap 4.68%
Theoretical Best
Office A
$323.9K
$283.4K – $377.8K
NOI $22,670 @ 7.0% cap · market cap 8.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
931
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two updated residences offer separate utilities, private laundry hookups, outdoor space, and shared access to a detached garage.
Where is this duplex located?
The property is located at 3069 T Street Lincoln, NE.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: Purpose‑built side‑by‑side duplex with two 2‑bedroom, 1‑bath units; 1,321 square feet; built in 1981; Separate gas and electric utilities for each residence
