Remodeled Duplex with Separate
New
For Sale
$360,000
4656 Orchard Avenue, Omaha, NE 68117
Two-unit property with in-place appliances, private laundry, and a large backyard near a high school and shopping.
Property Size1,614 SF
Price / SF$223.05
Days on Market4
Property Features for 4656 Orchard Avenue
General Information
Standard status
Active
Size
1,614 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA, 2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1962
Listing Agency:
Np Dodge Re Sales Inc 148Dodge
(402) 659-4432
Listed By:
Heidi Cline
(402) 350-9494
Source:
Tenaciousrealty
Added: Sep 13
Changed: Sep 15
Last Checked: Sep 15 at 8:03AM
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 Np Dodge Re Sales Inc 148Dodge
Investment Insights
Based on property information with market context.
This duplex contains two separate residences with individual entrances and a combined 1,614 square feet of living area. Each unit offers two bedrooms and one bathroom, with open-concept kitchen space and its own washer and dryer. The property has been completely remodeled, and the existing appliances remain with the sale. A large backyard adds outdoor space for the occupants.
Built in 1962, the property is positioned near a high school and shopping area. One unit is currently rented, while the second unit is vacant and includes two bedrooms and one bathroom. The two-unit configuration provides separate living spaces within a single residential income property.
Built in 1962, the property is positioned near a high school and shopping area. One unit is currently rented, while the second unit is vacant and includes two bedrooms and one bathroom. The two-unit configuration provides separate living spaces within a single residential income property.
Key Highlights
- Completely remodeled duplex with 1,614 square feet
- Two units, each with 2 bedrooms and 1 bathroom
- Separate entrances for both residences
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
$14,103
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
3.92%
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%
$282,060
$282.1K
Cap Rate 7%
$201,471
$201.5K
Cap Rate 9%
$156,700
$156.7K
Market Conditions
NOI Build-Up for 1,614 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
$21.7K $13.44/SF
− Vacancy
−$1.5K −$0.96/SF
EGI
$20.1K $12.48/SF
− OpEx
−$6.0K −$3.74/SF
NOI
$14.1K $8.74/SF
Area
Omaha, NE
Vacancy
7.12%
Lease Rate
$13.44 /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%
$282,060
Cap Rate 7%
$201,471
Cap Rate 9%
$156,700
Alternative Uses
Best Use
Multifamily LT 5
$201.5K
$176.3K – $235.1K
NOI $14,103 @ 7.0% cap · market cap 3.92%
Second Best
Apartment 5plus
$185.8K
$162.6K – $216.8K
NOI $13,007 @ 7.0% cap · market cap 3.61%
Theoretical Best
Office A
$424.6K
$371.6K – $495.4K
NOI $29,724 @ 7.0% cap · market cap 8.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
544
Businesses Nearby
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Business Placement
Demographics for 68117, NE
8,387
Population
3,258
Households
2.6
Avg Household Size
37
Median Age
15%
College-Educated
81%
High-School Grad
4.9 sq mi
ZIP Area
1,712
Density / Sq Mi
$73,860
Median Household Income
$41,279
Median Earnings
$1,328
Median Rent
$157,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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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 - Two-unit property with in-place appliances, private laundry, and a large backyard near a high school and shopping.
Where is this duplex located?
The property is located at 4656 Orchard Avenue Omaha, NE.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: Completely remodeled duplex with 1,614 square feet; Two units, each with 2 bedrooms and 1 bathroom; Separate entrances for both residences
