Building Details

Building Size 2,972 SF

Year Built 1957

Listing Agency: Lee & Associates | Lincoln

Listed By: Boomer Peterson · License #NE 20150894 Show Phone

Source: Lee-associates

Added: Nov 26, 2025 Changed: Oct 5 Last Checked: Oct 16 at 6:50AM

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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 Lee & Associates | Lincoln

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Investment Insights

Based on property information with market context.

This turn-key duplex is located in the northwest Lincoln submarket. Each side features 4 bedrooms and 2 bathrooms. Each unit provides over 1,470 square feet of living area, including daylight basements. Private yard access, patios, and decks are available for outdoor use. The property's layout and updates are designed to appeal to tenants and minimize maintenance. The property is situated in the Arnold Heights neighborhood of northwest Lincoln, offering convenience and accessibility. Residents have proximity to dining, shopping, and retail amenities, along with access to downtown Lincoln. The property is suitable for investors or owner-occupants seeking income, flexibility, and long-term value. The property offers versatility and performance. Monthly gross rents are $3,200. The property is ideal for investment or live-in/lease-out flexibility.

Key Highlights

• Turn‑key duplex generating a strong $3,200 monthly rental income.
• Each unit boasts 4 bedrooms and 2 bathrooms with over 1,470 square feet.
• Located in the desirable Arnold Heights neighborhood, offering convenient access to amenities and downtown.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$29,490

Cap Rate

8.45%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$589,800 $589.8K

Cap Rate 7%

$421,286 $421.3K

Cap Rate 9%

$327,667 $327.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,972 SF

Gross rent

$44.6K $15.00/SF

− Vacancy

−$2.5K −$0.83/SF

EGI

$42.1K $14.17/SF

− OpEx

−$12.6K −$4.25/SF

NOI

$29.5K $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 Rate 5%

$589,800

Cap Rate 7%

$421,286

Cap Rate 9%

$327,667

Alternative Uses

Best Use

Multifamily LT 5

$421.3K

$368.6K – $491.5K (±1% cap)

NOI $29,490 @ 7.0% cap · market cap 8.45%

Second Best

Apartment 5plus

$391.3K

$342.4K – $456.6K (±1% cap)

NOI $27,393 @ 7.0% cap · market cap 7.85%

Theoretical Best

Office A

$728.6K

$637.5K – $850.0K (±1% cap)

NOI $51,002 @ 7.0% cap · market cap 14.61%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Building Supply Parking Lot & Garage Auto Repair Shop Electrical Service Restaurant

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

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

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Well-maintained duplex with strong rental performance in northwest Lincoln.

Where is this duplex located?

The property is located at 3712 NW 51st St Lincoln, NE.

What is the asking price?

The asking price for this property is $349,000.

What are key features of this property?

This property features: Turn‑key duplex generating a strong $3,200 monthly rental income.; Each unit boasts 4 bedrooms and 2 bathrooms with over 1,470 square feet.; Located in the desirable Arnold Heights neighborhood, offering convenient access to amenities and downtown.