Brick Duplex with Detached
New
For Sale
$330,000
3511-3513 Cuming Street, Omaha, NE 68131
Two three-bedroom residences include basement laundry, with one unit currently leased and the other vacant.
Property Size2,777 SF
Price / SF$118.83
Days on Market2
Property Features for 3511-3513 Cuming Street
General Information
Standard status
Active
Size
2,777 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Amenities
basement laundry
Building Details
Year Built
1923
Buildings
1
Construction
brick
Tenancy
Single
Listing Agency:
BHHS Ambassador Real Estate
Listed By:
Heidi Cline
(402) 350-9494
Source:
Tenaciousrealty
Added: Sep 26
Last Checked: Sep 26 at 3:05PM
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 BHHS Ambassador Real Estate
Investment Insights
Based on property information with market context.
Built in 1923, this 2,777-square-foot brick duplex contains two three-bedroom units. Original woodwork and hardwood flooring remain among the building’s architectural features, and both residences have basement laundry. One unit has a partially finished basement; that residence is currently vacant, while the other is leased for $1,250 per month.
A detached two-car garage and one additional parking space behind the building serve the property. Nearby destinations include Gifford Park, Creighton, UNMC, Blackstone and downtown Omaha.
A detached two-car garage and one additional parking space behind the building serve the property. Nearby destinations include Gifford Park, Creighton, UNMC, Blackstone and downtown Omaha.
Key Highlights
- Purpose‑built brick duplex with two three‑bedroom units
- 2,777 square feet; built in 1923
- Original woodwork and hardwood floors
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
$24,266
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
7.35%
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%
$485,320
$485.3K
Cap Rate 7%
$346,657
$346.7K
Cap Rate 9%
$269,622
$269.6K
Market Conditions
NOI Build-Up for 2,777 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
$37.3K $13.44/SF
− Vacancy
−$2.7K −$0.96/SF
EGI
$34.7K $12.48/SF
− OpEx
−$10.4K −$3.74/SF
NOI
$24.3K $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 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%
$485,320
Cap Rate 7%
$346,657
Cap Rate 9%
$269,622
Alternative Uses
Best Use
Multifamily LT 5
$346.7K
$303.3K – $404.4K
NOI $24,266 @ 7.0% cap · market cap 7.35%
Second Best
Apartment 5plus
$319.7K
$279.7K – $373.0K
NOI $22,379 @ 7.0% cap · market cap 6.78%
Theoretical Best
Office A
$730.6K
$639.3K – $852.4K
NOI $51,143 @ 7.0% cap · market cap 15.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,062
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom residences include basement laundry, with one unit currently leased and the other vacant.
Where is this duplex located?
The property is located at 3511-3513 Cuming Street Omaha, NE.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: Purpose‑built brick duplex with two three‑bedroom units; 2,777 square feet; built in 1923; Original woodwork and hardwood floors
