Fully Renovated Duplex with Fenced
For Sale
$450,000
502 S 50th St, Omaha, NE 68132
Fully renovated duplex with two three-bedroom units, fenced yard, concrete patio, and off-street parking for six.
Property Size1,968 SF
Price / SF$228.66
Days on Market9
Property Features for 502 S 50th St
General Information
Standard status
Active
Size
1,968 SF
Total Parking Spaces
6
Property subtype
Residential Income
Building Details
Year Renovated
2024
Listing Agency:
Better Homes and Gardens R.E.
(402) 660-1174
Listed By:
Ben Smail
(402) 660-1174
Source:
Exprealty
Added: Jul 24
Changed: Jul 30
Last Checked: Jul 31 at 1:55PM
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 Better Homes and Gardens R.E.
Investment Insights
Based on property information with market context.
This fully renovated, purpose-built duplex offers two units, each featuring three bedrooms and one bathroom. Hardwood floors extend through the first and second floor of each unit. Kitchens include white cabinetry, granite countertops, stainless-steel appliances, a stylish backsplash, and bar seating for four. The upper level includes two spacious bedrooms and a remodeled full bathroom, while each basement adds a third bedroom with an egress window, along with a laundry area and storage space.
Improvements include a new roof in 2021, a comprehensive 2023 exterior renovation with new LP siding, insulation, sheathing, gutters, and paint, plus new HVAC systems in both units in 2024. The upper yard is fully fenced and includes a concrete patio and a storage shed. The driveway provides off-street parking for six, and both units are furnished. The property was also pre-inspected.
Located near UNMC, the Blackstone District, The Catalyst, Dundee, and Memorial Park in the Happy Hollow District.
Improvements include a new roof in 2021, a comprehensive 2023 exterior renovation with new LP siding, insulation, sheathing, gutters, and paint, plus new HVAC systems in both units in 2024. The upper yard is fully fenced and includes a concrete patio and a storage shed. The driveway provides off-street parking for six, and both units are furnished. The property was also pre-inspected.
Located near UNMC, the Blackstone District, The Catalyst, Dundee, and Memorial Park in the Happy Hollow District.
Key Highlights
- Two fully renovated units, each with three bedrooms and one bathroom
- New roof in 2021 and comprehensive 2023 exterior renovation with new LP siding
- New HVAC systems in both units in 2024
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $26.4k | $13.44 |
| − Vacancy | −$1.9k | −$0.96 |
| EGI | $24.6k | $12.48 |
| − OpEx | −$7.4k | −$3.74 |
| NOI | $17.2k | $8.74 |
1,968 SF · lease $13.44/SF/yr · vacancy 7.12% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$245.7K
$215.0K – $286.6K
NOI $17,197 @ 7.0% cap · market cap 3.82%
Second Best
Apartment 5plus
$226.6K
$198.2K – $264.3K
NOI $15,859 @ 7.0% cap · market cap 3.52%
Theoretical Best
Office A
$517.8K
$453.1K – $604.1K
NOI $36,244 @ 7.0% cap · market cap 8.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,567
Businesses Nearby
Explore this area
Business Placement
Demographics for 68132, NE
13,729
Population
6,856
Households
2
Avg Household Size
35
Median Age
63%
College-Educated
94%
High-School Grad
2.6 sq mi
ZIP Area
5,280
Density / Sq Mi
$81,556
Median Household Income
$51,430
Median Earnings
$979
Median Rent
$324,600
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 - Fully renovated duplex with two three-bedroom units, fenced yard, concrete patio, and off-street parking for six.
Where is this duplex located?
The property is located at 502 S 50th St Omaha, NE.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two fully renovated units, each with three bedrooms and one bathroom; New roof in 2021 and comprehensive 2023 exterior renovation with new LP siding; New HVAC systems in both units in 2024
