Updated Duplex with Detached
For Sale
$390,000
5022 Izard Street, Omaha, NE 68132
RESIDENTIAL, 1.5 Story, Omaha, NE
Property Size2,384 SF
Lot Size0.15 Acres
Price / SF$163.59
Days on Market20
Property Features for 5022 Izard Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 2, Basement, Bathroom 2, Bedroom 3, Bedroom 1, Bathroom 1
Parking features
Garage - Detached
Patio and Porch features
Porch, Patio
Exterior features
Patio, Porch, Separate Entrance
Fireplace
1
Appliances
Dishwasher, Dryer, Microwave, Range, Refrigerator, Washer
Subdivision
Dundee Place
Elementary school
Harrison
Middle school
Lewis and Clark
High school
Benson
Elementary school district
Omaha
Middle school district
Omaha
High school district
Omaha
Directions
From 51st and Dodge, north on 51st. Right on Izard to home.
Standard status
Active
APN
0949950000
Size
2,384 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
DUNDEE PLACE LOT 14 BLOCK 105 50 X 135
Tax Annual Amount
5769
Legal Description
DUNDEE PLACE LOT 14 BLOCK 105 50 X 135
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1920
Floors in Building
2
Roof type
Composition
Architectural style
Other
Listing Agency:
Nebraska Realty
(402) 491-0100
Listed By:
Kyle Fagan · License #20150021
(402) 515-4664
Added: Aug 28
Changed: Sep 15
Last Checked: Sep 16 at 6:06AM
MLS# 22624744
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.
This 1920 duplex contains 2,384 square feet across two levels and is arranged as two private living units. The upper residence has 2 bedrooms and 1 bathroom, while the main level includes 2 bedrooms, 1 bathroom, and an office or sunroom. Each unit has its own entrance and full kitchen, with appliances including ranges, refrigerators, dishwashers, microwaves, washers, and dryers. Forced-air heat, central air, a fireplace, and a composition roof are also included.
The property occupies 0.15 acres at 5022 Izard Street in Omaha, Nebraska 68132. Exterior features include a porch and patio, while the detached 2-stall garage provides parking and an EV hookup. Improvements include a water heater, fencing, flooring, blinds, updated windows, Nest thermostats, Schlage keypad locks, duct cleaning, tuckpointed brickwork, and a Grade 4 hail-resistant roof.
The property occupies 0.15 acres at 5022 Izard Street in Omaha, Nebraska 68132. Exterior features include a porch and patio, while the detached 2-stall garage provides parking and an EV hookup. Improvements include a water heater, fencing, flooring, blinds, updated windows, Nest thermostats, Schlage keypad locks, duct cleaning, tuckpointed brickwork, and a Grade 4 hail-resistant roof.
Key Highlights
- Duplex with 2,384 square feet of property area
- Two private entrances and two full kitchens
- Upper unit: 2 bedrooms and 1 bathroom
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
$20,832
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
5.34%
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%
$416,640
$416.6K
Cap Rate 7%
$297,600
$297.6K
Cap Rate 9%
$231,467
$231.5K
Market Conditions
NOI Build-Up for 2,384 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
$32.0K $13.44/SF
− Vacancy
−$2.3K −$0.96/SF
EGI
$29.8K $12.48/SF
− OpEx
−$8.9K −$3.74/SF
NOI
$20.8K $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%
$416,640
Cap Rate 7%
$297,600
Cap Rate 9%
$231,467
Alternative Uses
Best Use
Multifamily LT 5
$297.6K
$260.4K – $347.2K
NOI $20,832 @ 7.0% cap · market cap 5.34%
Second Best
Apartment 5plus
$274.5K
$240.2K – $320.2K
NOI $19,212 @ 7.0% cap · market cap 4.93%
Theoretical Best
Office A
$627.2K
$548.8K – $731.8K
NOI $43,905 @ 7.0% cap · market cap 11.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
582
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
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-level duplex with separate entrances, dual kitchens, and a detached garage with EV charging capability.
Where is this duplex located?
The property is located at 5022 Izard Street Omaha, NE.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: Duplex with 2,384 square feet of property area; Two private entrances and two full kitchens; Upper unit: 2 bedrooms and 1 bathroom
