Updated Three-Bedroom
For Sale
$199,900
5004 N 33rd St, Omaha, NE 68111
Two refreshed residential units feature new decks, durable finishes, and off-street parking.
Property Size1,536 SF
Price / SF$130.14
Days on Market31
Property Features for 5004 N 33rd St
General Information
Standard status
Active
Size
1,536 SF
Property subtype
Multi-Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Building Details
Year Built
1962
Listing Agency:
BHHS Ambassador Real Estate
Listed By:
Todd Bartusek
(402) 493-4663
Source:
Thatcheromaha
Added: Aug 12
Changed: Sep 10
Last Checked: Sep 9 at 10:41PM
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 BHHS Ambassador Real Estate
Investment Insights
Based on property information with market context.
This 1,536-square-foot duplex includes a three-bedroom unit on each side, creating a two-unit residential configuration. Recent improvements include new carpet, interior paint, low-maintenance vinyl siding, decks at both units, luxury vinyl plank flooring, newer mechanical systems, and an updated electric panel.
The property occupies a corner lot on N 33rd St in Omaha, with off-street parking and access to nearby bus lines and shopping. Its unit layout and updated finishes support separate residential occupancy within one building.
The property occupies a corner lot on N 33rd St in Omaha, with off-street parking and access to nearby bus lines and shopping. Its unit layout and updated finishes support separate residential occupancy within one building.
Key Highlights
- 1,536 SF duplex with 3 br on each side
- New decks added to both units
- Updated interiors with new carpet, paint, and luxury vinyl plank flooring
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
$13,422
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
6.71%
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%
$268,440
$268.4K
Cap Rate 7%
$191,743
$191.7K
Cap Rate 9%
$149,133
$149.1K
Market Conditions
NOI Build-Up for 1,536 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
$20.6K $13.44/SF
− Vacancy
−$1.5K −$0.96/SF
EGI
$19.2K $12.48/SF
− OpEx
−$5.8K −$3.74/SF
NOI
$13.4K $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%
$268,440
Cap Rate 7%
$191,743
Cap Rate 9%
$149,133
Alternative Uses
Best Use
Multifamily LT 5
$191.7K
$167.8K – $223.7K
NOI $13,422 @ 7.0% cap · market cap 6.71%
Second Best
Apartment 5plus
$176.8K
$154.7K – $206.3K
NOI $12,378 @ 7.0% cap · market cap 6.19%
Theoretical Best
Office A
$404.1K
$353.6K – $471.5K
NOI $28,288 @ 7.0% cap · market cap 14.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
351
Businesses Nearby
Explore this area
Business Placement
Demographics for 68111, NE
25,048
Population
9,729
Households
2.6
Avg Household Size
31
Median Age
12%
College-Educated
78%
High-School Grad
5.2 sq mi
ZIP Area
4,817
Density / Sq Mi
$41,010
Median Household Income
$31,610
Median Earnings
$1,109
Median Rent
$101,800
Median Home Value
Check the figures for this property
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 refreshed residential units feature new decks, durable finishes, and off-street parking.
Where is this duplex located?
The property is located at 5004 N 33rd St Omaha, NE.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: 1,536 SF duplex with 3 br on each side; New decks added to both units; Updated interiors with new carpet, paint, and luxury vinyl plank flooring
