Remodeled Duplex with
New
For Sale
$330,000
4608 Adams Street, Lincoln, NE 68504
MULTI_FAMILY - Lincoln, NE
Property Size2,280 SF
Price / SF$144.74
Days on Market4
Property Features for 4608 Adams Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
4
Full bathrooms
2
Half bathrooms
2
Rooms
Bathroom 1, Bedroom 1, Bedroom 5, Bathroom 4, Bedroom 4, Bedroom 6, Bathroom 3, Bathroom 2, Bedroom 2, Bedroom 3
Parking
4
Parking features
Off Street
Patio and Porch features
Patio
Exterior features
Patio
Fencing
Privacy
Subdivision
IMHOFFS ADDITION TO UNIVERSITY PLACE
Lot features
Alley, Level
Elementary school
Huntington
Middle school
Dawes
High school
Lincoln Northeast
Elementary school district
Lincoln
Middle school district
Lincoln
High school district
Lincoln
Directions
Consult GPS
Standard status
Active
APN
17-08-329-013-000
Taxes and HOA fees
Tax Year
2026
Tax Description
IMHOFFS ADDITION TO UNIVERSITY PLACE, BLOCK 40, LOT 8, EX S PT FOR ST
Tax Annual Amount
3519
Legal Description
IMHOFFS ADDITION TO UNIVERSITY PLACE, BLOCK 40, LOT 8, EX S PT FOR ST
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1980
Number of units
2
Roof type
Composition
Listing Agency:
SimpliCity Real Estate
(402) 261-3366
Listed By:
Wade Bartels
(402) 796-6136
Added: Aug 4
Last Checked: Aug 7 at 4:06AM
MLS# 22622145
Copyright © 2026 Great Plains Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1980, this duplex contains two single-level residences, each with 3 bedrooms, 1.5 bathrooms, and 1,140 square feet. Both units were remodeled in 2020 and include modern finishes, patios, privacy fencing, forced-air heating, and central air conditioning. A composition roof and low-maintenance exterior support practical ongoing operation.
Each side has off-street parking accessed from the back alley. The property is located at 4608 Adams Street in Lincoln, Nebraska, within walking distance of schools and shopping. The layout supports an owner-occupant arrangement with one residence available for rental, or use of both units as a multifamily investment.
Each side has off-street parking accessed from the back alley. The property is located at 4608 Adams Street in Lincoln, Nebraska, within walking distance of schools and shopping. The layout supports an owner-occupant arrangement with one residence available for rental, or use of both units as a multifamily investment.
Key Highlights
- Two‑unit duplex with 3 bedrooms, 1.5 bathrooms, and 1,140 square feet per side
- Both residences remodeled in 2020
- Single‑level layouts with no interior stairs
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
$22,623
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
6.86%
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%
$452,460
$452.5K
Cap Rate 7%
$323,186
$323.2K
Cap Rate 9%
$251,367
$251.4K
Market Conditions
NOI Build-Up for 2,280 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
$34.2K $15.00/SF
− Vacancy
−$1.9K −$0.83/SF
EGI
$32.3K $14.17/SF
− OpEx
−$9.7K −$4.25/SF
NOI
$22.6K $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%
$452,460
Cap Rate 7%
$323,186
Cap Rate 9%
$251,367
Alternative Uses
Best Use
Multifamily LT 5
$323.2K
$282.8K – $377.1K
NOI $22,623 @ 7.0% cap · market cap 6.86%
Second Best
Apartment 5plus
$300.2K
$262.7K – $350.3K
NOI $21,015 @ 7.0% cap · market cap 6.37%
Theoretical Best
Office A
$559.0K
$489.1K – $652.1K
NOI $39,127 @ 7.0% cap · market cap 11.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
513
Businesses Nearby
Explore this area
Business Placement
Demographics for 68504, NE
17,155
Population
8,793
Households
2
Avg Household Size
31
Median Age
33%
College-Educated
93%
High-School Grad
7.0 sq mi
ZIP Area
2,451
Density / Sq Mi
$52,159
Median Household Income
$32,787
Median Earnings
$1,014
Median Rent
$169,000
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 single-level units feature updated finishes, private outdoor space, and separate off-street parking.
Where is this duplex located?
The property is located at 4608 Adams Street Lincoln, 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: Two‑unit duplex with 3 bedrooms, 1.5 bathrooms, and 1,140 square feet per side; Both residences remodeled in 2020; Single‑level layouts with no interior stairs
