Building Details

Year Built 1904

Year Renovated 2025

Tenancy Multi

Listing Agency: Nebraska Realty Show Phone

Listed By: The Ignite Team

Source: Theigniteteam

Added: Oct 7 Last Checked: Oct 7 at 10:01AM

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Investment Insights

Based on property information with market context.

Built in 1904, this duplex contains a four-bedroom upper unit and a one-bedroom lower-level unit. Both are leased through May 2027. Improvements include a roof and vinyl siding installed in 2025, plus windows and HVAC updated in 2023. The property also has a two-car garage and separate driveway access for the lower unit. Electrical service is not separately metered.

The property is in Midtown, near Midtown Crossing, Creighton University, UNMC, dining, shopping, and entertainment. A Creighton shuttle stop is a few blocks away.

Key Highlights

• Two‑unit layout with a four‑bedroom upper unit and one‑bedroom lower‑level unit
• Both units leased through May 2027
• Two‑car garage and separate driveway access for the lower‑level unit

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$21,059

Cap Rate

7.29%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$421,180 $421.2K

Cap Rate 7%

$300,843 $300.8K

Cap Rate 9%

$233,989 $234.0K

Market Conditions

NOI Build-Up for 2,410 SF

Gross rent

$32.4K $13.44/SF

− Vacancy

−$2.3K −$0.96/SF

EGI

$30.1K $12.48/SF

− OpEx

−$9.0K −$3.74/SF

NOI

$21.1K $8.74/SF

Area

Omaha, NE

Vacancy

7.12%

Lease Rate

$13.44 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$421,180

Cap Rate 7%

$300,843

Cap Rate 9%

$233,989

Alternative Uses

Best Use

Multifamily LT 5

$300.8K

$263.2K – $351.0K (±1% cap)

NOI $21,059 @ 7.0% cap · market cap 7.29%

Second Best

Apartment 5plus

$277.4K

$242.8K – $323.7K (±1% cap)

NOI $19,421 @ 7.0% cap · market cap 6.72%

Theoretical Best

Office A

$634.1K

$554.8K – $739.7K (±1% cap)

NOI $44,384 @ 7.0% cap · market cap 15.36%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Omnivillage Hardware & Home Improvement

Suggested Use

Top Pick HVAC Service (Bike/Boat/Book/etc) Store Carpet & Flooring Store Catering Service Electrical Service Home Appliance Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

100%

Occupancy

Multi-tenant

Tenancy

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

1,416

Businesses Nearby

Explore this area Business Placement

Demographics for 68131, NE

13,609

Population

7,861

Households

1.7

Avg Household Size

29

Median Age

46%

College-Educated

91%

High-School Grad

2.1 sq mi

ZIP Area

6,480

Density / Sq Mi

$47,800

Median Household Income

$30,808

Median Earnings

$1,081

Median Rent

$224,500

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Duplex - Separate driveway access serves the lower-level unit, alongside a two-car garage.

Where is this duplex located?

The property is located at 3313 Burt Street Omaha, NE.

What is the asking price?

The asking price for this property is $289,000.

What are key features of this property?

This property features: Two‑unit layout with a four‑bedroom upper unit and one‑bedroom lower‑level unit; Both units leased through May 2027; Two‑car garage and separate driveway access for the lower‑level unit