Side-by-Side Duplex with
For Sale
$345,000
4500/4502 N 66th Street, Lincoln, NE 68507
Two mirrored units offer basement living space, laundry, storage, and off-street parking.
Property Size3,304 SF
Days on Market109
Property Features for 4500/4502 N 66th Street
General Information
Standard status
Active
Size
3,304 SF
Property subtype
Multi Family Home
Building Details
Building Size
3,304 SF
Year Built
1975
Construction
all brick
Tenancy
Multi
Listing Agency:
Nest Real Estate, LLC
(402) 580-4791
Listed By:
Kristi Reins
(402) 580-4791
Source:
Burrowstracts
Added: Apr 21
Changed: Jul 31
Last Checked: Aug 6 at 12:36PM
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 Nest Real Estate, LLC
Investment Insights
Based on property information with market context.
This well-maintained, all-brick duplex features two mirrored units, each with a main-level living room with fireplace, two bedrooms, a full bathroom, kitchen, and informal dining area. The basement adds a third bedroom, family room, storage, and laundry. Each basement also offers potential for an additional bedroom and bathroom. The property includes a detached three-stall garage with three individual stalls, along with off-street parking. Built in 1975, the property is located on a corner lot in Lincoln’s Havelock neighborhood. It is close to shopping, schools, area amenities, and the interstate, providing convenient access to surrounding destinations.
Key Highlights
- Two mirrored duplex units with matching layouts
- All‑brick construction built in 1975
- Each unit includes 3 bedrooms, a family room, storage, and laundry
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
$30,453
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
8.83%
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%
$609,060
$609.1K
Cap Rate 7%
$435,043
$435.0K
Cap Rate 9%
$338,367
$338.4K
Market Conditions
NOI Build-Up for 3,304 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
$58.3K $17.64/SF
− Vacancy
−$2.9K −$0.88/SF
EGI
$55.4K $16.76/SF
− OpEx
−$24.9K −$7.54/SF
NOI
$30.5K $9.22/SF
Area
Lincoln, NE
Vacancy
5.00%
Lease Rate
$17.64 /SF/Yr
Expense Ratio
45.00%
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%
$609,060
Cap Rate 7%
$435,043
Cap Rate 9%
$338,367
Alternative Uses
Best Use
Multifamily LT 5
$468.3K
$409.8K – $546.4K
NOI $32,784 @ 7.0% cap · market cap 9.50%
Second Best
Apartment 5plus
$435.0K
$380.7K – $507.6K
NOI $30,453 @ 7.0% cap · market cap 8.83%
Theoretical Best
Office A
$810.0K
$708.8K – $945.0K
NOI $56,700 @ 7.0% cap · market cap 16.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
381
Businesses Nearby
Explore this area
Business Placement
Demographics for 68507, NE
15,680
Population
7,144
Households
2.2
Avg Household Size
39
Median Age
32%
College-Educated
94%
High-School Grad
11.1 sq mi
ZIP Area
1,413
Density / Sq Mi
$71,194
Median Household Income
$41,335
Median Earnings
$884
Median Rent
$215,000
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 mirrored units offer basement living space, laundry, storage, and off-street parking.
Where is this duplex located?
The property is located at 4500/4502 N 66th Street Lincoln, NE.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: Two mirrored duplex units with matching layouts; All‑brick construction built in 1975; Each unit includes 3 bedrooms, a family room, storage, and laundry
