Two-Unit Duplex with Full
New
For Sale
$249,900
311-315 N Waldo Ave, Grand Island, NE 68803
MULTI_FAMILY - Grand Island, NE
Property Size1,560 SF
Lot Size0.23 Acres
Price / SF$160.19
Days on Market1
Property Features for 311-315 N Waldo Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 1, Bedroom 4, Bathroom 1, Basement, Bedroom 2, Bathroom 2
Appliances
Refrigerator, Stove
Elementary school
Jefferson
Middle school
Walnut
High school
Grand Island Senior High
Subdivision
NW
Standard status
Active
Size
1,560 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Lots 139 & 140, Belmont Addition to the City of Grand Island, Hall County, Nebraska
Tax Annual Amount
3067
Legal Description
Lots 139 & 140, Belmont Addition to the City of Grand Island, Hall County, Nebraska
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1970
Floors in Building
1
Number of units
2
Roof type
Composition
Architectural style
Ranch
Listing Agency:
New View Real Estate
(308) 381-8240
Listed By:
David Wetherilt
(308) 380-7872
Added: Jul 30
Last Checked: Jul 30 at 7:06PM
MLS# 20262812
Copyright © 2026 Grand Island Board of Realtors. 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.
This two-unit duplex at 311-315 N Waldo Ave offers two mirrored living spaces with a total of 1,560 square feet. Each side includes two bedrooms and a full bathroom, plus its own full basement beneath the unit. The basements provide extra storage and workspace options and may offer future finishing possibilities.
The property sits on two lots totaling 0.23 acres. Public water and public sewer services are in place, and the roof is composition. Tenants are responsible for their own heat and electric, which can help keep utilities from being fully owner-borne.
Built in 1970, the duplex features a ranch architectural style and includes essential kitchen appliances such as a refrigerator and stove.
The property sits on two lots totaling 0.23 acres. Public water and public sewer services are in place, and the roof is composition. Tenants are responsible for their own heat and electric, which can help keep utilities from being fully owner-borne.
Built in 1970, the duplex features a ranch architectural style and includes essential kitchen appliances such as a refrigerator and stove.
Key Highlights
- Two mirrored units totaling 1,560 SF on 0.23 acres
- Each unit has 780 SF with two bedrooms and a full bathroom
- Full basement beneath each unit for storage and workspace
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 | $17.8k | $11.40 |
| − Vacancy | −$928 | −$0.60 |
| EGI | $16.9k | $10.80 |
| − OpEx | −$5.1k | −$3.24 |
| NOI | $11.8k | $7.56 |
1,560 SF · lease $11.40/SF/yr · vacancy 5.22% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$168.6K
$147.5K – $196.7K
NOI $11,799 @ 7.0% cap · market cap 4.72%
Second Best
Apartment 5plus
$155.7K
$136.2K – $181.6K
NOI $10,897 @ 7.0% cap · market cap 4.36%
Theoretical Best
Office A
$390.4K
$341.6K – $455.5K
NOI $27,329 @ 7.0% cap · market cap 10.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,101
Businesses Nearby
Explore this area
Business Placement
Demographics for 68803, NE
26,487
Population
11,188
Households
2.4
Avg Household Size
38
Median Age
25%
College-Educated
87%
High-School Grad
86.9 sq mi
ZIP Area
305
Density / Sq Mi
$70,040
Median Household Income
$44,795
Median Earnings
$888
Median Rent
$224,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two mirrored duplex units on public utilities, each with two bedrooms and a full basement.
Where is this duplex located?
The property is located at 311-315 N Waldo Ave Grand Island, NE.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Two mirrored units totaling 1,560 SF on 0.23 acres; Each unit has 780 SF with two bedrooms and a full bathroom; Full basement beneath each unit for storage and workspace
