Updated Duplex With Two 3-Bedroom
New
For Sale
$449,900
3908-3910 Fairacres Road, Kearney, NE 68845
Both residences offer refreshed kitchens, living spaces, private decks, and individually fenced outdoor areas.
Property Size3,138 SF
Price / SF$143.37
Days on Market3
Property Features for 3908-3910 Fairacres Road
General Information
Standard status
Active
Size
3,138 SF
Property subtype
Multi-Family
Building Details
Year Built
1982
Listing Agency:
Coldwell Banker Town & Country
Listed By:
Kelsey Janssen · License #377
(308) 293-5536
Source:
Rootedrealtyne
Added: Sep 12
Last Checked: Sep 14 at 5:59AM
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 Coldwell Banker Town & Country
Investment Insights
Based on property information with market context.
This 3,138-square-foot duplex contains two three-bedroom residences. The north unit includes 2.5 bathrooms, while the south unit has two bathrooms. Both sides feature refreshed kitchen and living areas, basement fireplaces, and private rear decks. Vinyl fencing and rear gates define the outdoor areas for each residence.
The property combines brick accents, hardboard siding, front porches, and garage doors replaced in 2020. Significant exterior work includes a 2020 roof, gutters, and soffit, along with siding, deck railing, and front-door replacements completed in November 2020. Interior improvements include kitchen updates and new windows from 2017. Built in 1982, the duplex is located at 3908-3910 Fairacres Road in Kearney, Nebraska.
The property combines brick accents, hardboard siding, front porches, and garage doors replaced in 2020. Significant exterior work includes a 2020 roof, gutters, and soffit, along with siding, deck railing, and front-door replacements completed in November 2020. Interior improvements include kitchen updates and new windows from 2017. Built in 1982, the duplex is located at 3908-3910 Fairacres Road in Kearney, Nebraska.
Key Highlights
- Two‑unit duplex with 3,138 square feet
- North residence offers 3 bedrooms and 2.5 bathrooms
- South residence includes 3 bedrooms and 2 bathrooms
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
$21,341
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
4.74%
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%
$426,820
$426.8K
Cap Rate 7%
$304,871
$304.9K
Cap Rate 9%
$237,122
$237.1K
Market Conditions
NOI Build-Up for 3,138 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
$32.0K $10.20/SF
− Vacancy
−$1.5K −$0.48/SF
EGI
$30.5K $9.72/SF
− OpEx
−$9.1K −$2.91/SF
NOI
$21.3K $6.80/SF
Area
Buffalo County, NE
Vacancy
4.75%
Lease Rate
$10.20 /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%
$426,820
Cap Rate 7%
$304,871
Cap Rate 9%
$237,122
Alternative Uses
Best Use
Multifamily LT 5
$304.9K
$266.8K – $355.7K
NOI $21,341 @ 7.0% cap · market cap 4.74%
Second Best
Apartment 5plus
$281.1K
$245.9K – $327.9K
NOI $19,675 @ 7.0% cap · market cap 4.37%
Theoretical Best
Healthcare Medical
$589.0K
$515.4K – $687.2K
NOI $41,229 @ 7.0% cap · market cap 9.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
288
Businesses Nearby
Explore this area
Business Placement
Demographics for 68845, NE
20,304
Population
9,057
Households
2.2
Avg Household Size
33
Median Age
41%
College-Educated
94%
High-School Grad
123.7 sq mi
ZIP Area
164
Density / Sq Mi
$75,350
Median Household Income
$39,232
Median Earnings
$896
Median Rent
$274,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Both residences offer refreshed kitchens, living spaces, private decks, and individually fenced outdoor areas.
Where is this duplex located?
The property is located at 3908-3910 Fairacres Road Kearney, NE.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: Two‑unit duplex with 3,138 square feet; North residence offers 3 bedrooms and 2.5 bathrooms; South residence includes 3 bedrooms and 2 bathrooms
