Well-Maintained
For Sale
$325,000
3712-3718 NW 51st Street, Lincoln, NE 68524
Duplex with two 4-bedroom units, private basement laundry hookups, and one vacant unit ready for occupancy.
Property Size2,600 SF
Days on Market79
Property Features for 3712-3718 NW 51st Street
General Information
Standard status
Active
Size
2,600 SF
Property subtype
Multi Family Home
Additional Details
Utilities to Site
Yes
Amenities
private basement laundry hookups
large backyards
Building Details
Building Size
2,600 SF
Year Built
1957
Buildings
1
Tenancy
Multi
Listing Agency:
Pinnacle Realty Group
(402) 480-2151
Listed By:
Evan Germansky
(402) 480-2151
Source:
Burrowstracts
Added: May 21
Changed: Jul 31
Last Checked: Aug 6 at 12:44PM
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 Pinnacle Realty Group
Investment Insights
Based on property information with market context.
This well-maintained duplex at 3712-3718 NW 51st Street in Lincoln, NE 68524 features two units in a practical layout. Each unit offers four bedrooms, two full bathrooms, and private basement laundry hookups. One unit is occupied by a long-term tenant, while the other unit is vacant and ready for occupancy or lease-up.
The property was built in 1957 and includes a roof that is less than 10 years old with Class 4 impact-resistant shingles. Outdoor space is a strong complement to the interior, with large backyards for each unit.
Utility responsibilities are split between tenants and landlord: tenants pay gas and electric, while the landlord covers water, sewer, and trash. The combination of steady occupancy on one side and an available unit on the other can support a variety of ownership approaches for qualified buyers.
The property was built in 1957 and includes a roof that is less than 10 years old with Class 4 impact-resistant shingles. Outdoor space is a strong complement to the interior, with large backyards for each unit.
Utility responsibilities are split between tenants and landlord: tenants pay gas and electric, while the landlord covers water, sewer, and trash. The combination of steady occupancy on one side and an available unit on the other can support a variety of ownership approaches for qualified buyers.
Key Highlights
- Two units: each offers four bedrooms and two full bathrooms
- One unit occupied by a long‑term tenant; the other is vacant and ready
- Private basement laundry hookups for each unit
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
$25,799
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
7.94%
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%
$515,980
$516.0K
Cap Rate 7%
$368,557
$368.6K
Cap Rate 9%
$286,656
$286.7K
Market Conditions
NOI Build-Up for 2,600 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
$39.0K $15.00/SF
− Vacancy
−$2.1K −$0.83/SF
EGI
$36.9K $14.17/SF
− OpEx
−$11.1K −$4.25/SF
NOI
$25.8K $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%
$515,980
Cap Rate 7%
$368,557
Cap Rate 9%
$286,656
Alternative Uses
Best Use
Multifamily LT 5
$368.6K
$322.5K – $430.0K
NOI $25,799 @ 7.0% cap · market cap 7.94%
Second Best
Apartment 5plus
$342.3K
$299.6K – $399.4K
NOI $23,964 @ 7.0% cap · market cap 7.37%
Theoretical Best
Office A
$637.4K
$557.7K – $743.6K
NOI $44,618 @ 7.0% cap · market cap 13.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
87
Businesses Nearby
Explore this area
Business Placement
Demographics for 68524, NE
5,843
Population
2,063
Households
2.8
Avg Household Size
31
Median Age
24%
College-Educated
89%
High-School Grad
28.6 sq mi
ZIP Area
204
Density / Sq Mi
$80,139
Median Household Income
$40,882
Median Earnings
$971
Median Rent
$214,500
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 - Duplex with two 4-bedroom units, private basement laundry hookups, and one vacant unit ready for occupancy.
Where is this duplex located?
The property is located at 3712-3718 NW 51st Street Lincoln, NE.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Two units: each offers four bedrooms and two full bathrooms; One unit occupied by a long‑term tenant; the other is vacant and ready; Private basement laundry hookups for each unit
