Updated Triplex with Basement
For Sale
$275,000
506 S 30th Street, Omaha, NE 68105
Two units received remodeling since 2024, while basement laundry hookups and storage add practical functionality.
Property Size2,476 SF
Price / SF$111.07
Days on Market10
Property Features for 506 S 30th Street
General Information
Standard status
Active
Size
2,476 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
3
Amenities
laundry hookups
storage
Building Details
Year Built
1890
Listing Agency:
Nexthome Signature Real Estate
(402) 350-9494
Listed By:
Heidi Cline
(402) 350-9494
Source:
Tenaciousrealty
Added: Aug 21
Changed: Aug 28
Last Checked: Aug 29 at 8:54AM
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 Nexthome Signature Real Estate
Investment Insights
Based on property information with market context.
Built in 1890, this triplex contains two 2-bedroom, 1-bath residences and one 1-bedroom, 1-bath residence. The two larger units were remodeled since 2024, and the smaller unit received remodeling in 2015. The 1-bedroom unit is currently tenant occupied. Building improvements include replacement windows, siding, and roofing, along with basement wall stabilization completed by Groundworks.
The basement adds laundry hookups and substantial storage space, supporting practical day-to-day operation for the property. The triplex is located at 506 S 30th Street in Omaha, near Blackstone, Downtown, and Creighton University. Its combination of multiple updated units, exterior work, basement utility space, and an occupied unit provides a clearly defined multifamily configuration.
The basement adds laundry hookups and substantial storage space, supporting practical day-to-day operation for the property. The triplex is located at 506 S 30th Street in Omaha, near Blackstone, Downtown, and Creighton University. Its combination of multiple updated units, exterior work, basement utility space, and an occupied unit provides a clearly defined multifamily configuration.
Key Highlights
- Two 2‑bedroom, 1‑bath units remodeled since 2024
- 1‑bedroom, 1‑bath unit remodeled in 2015 and currently tenant occupied
- Updated windows, siding, and roof
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
$21,636
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
7.87%
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%
$432,720
$432.7K
Cap Rate 7%
$309,086
$309.1K
Cap Rate 9%
$240,400
$240.4K
Market Conditions
NOI Build-Up for 2,476 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
$33.3K $13.44/SF
− Vacancy
−$2.4K −$0.96/SF
EGI
$30.9K $12.48/SF
− OpEx
−$9.3K −$3.74/SF
NOI
$21.6K $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%
$432,720
Cap Rate 7%
$309,086
Cap Rate 9%
$240,400
Alternative Uses
Best Use
Multifamily LT 5
$309.1K
$270.5K – $360.6K
NOI $21,636 @ 7.0% cap · market cap 7.87%
Second Best
Apartment 5plus
$285.0K
$249.4K – $332.6K
NOI $19,953 @ 7.0% cap · market cap 7.26%
Theoretical Best
Office A
$651.4K
$570.0K – $760.0K
NOI $45,600 @ 7.0% cap · market cap 16.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,124
Businesses Nearby
Explore this area
Business Placement
Demographics for 68105, NE
22,669
Population
10,633
Households
2.1
Avg Household Size
32
Median Age
35%
College-Educated
84%
High-School Grad
3.6 sq mi
ZIP Area
6,297
Density / Sq Mi
$53,253
Median Household Income
$36,969
Median Earnings
$1,010
Median Rent
$187,600
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?
Triplex - Two units received remodeling since 2024, while basement laundry hookups and storage add practical functionality.
Where is this triplex located?
The property is located at 506 S 30th Street Omaha, NE.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath units remodeled since 2024; 1‑bedroom, 1‑bath unit remodeled in 2015 and currently tenant occupied; Updated windows, siding, and roof
