Split-Foyer
New
For Sale
$430,000
5400 S 32nd Street, Lincoln, NE 68516
Two residential units include attached garages, daylight lower levels, and gas fireplaces.
Property Size3,200 SF
Price / SF$134.38
Days on Market5
Property Features for 5400 S 32nd Street
General Information
Standard status
Active
Size
3,200 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1994
Buildings
1
Listing Agency:
Synergy Real Estate & Dev Corp
Listed By:
Heidi Cline
(402) 350-9494
Source:
Tenaciousrealty
Added: Sep 4
Changed: Sep 7
Last Checked: Sep 7 at 7:13AM
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 Synergy Real Estate & Dev Corp
Investment Insights
Based on property information with market context.
Built in 1994, this split-foyer duplex contains more than 3,200 total square feet across two residential units. Each unit includes an attached garage, multiple bathrooms, a primary suite with a walk-in closet, and a daylight basement with a gas fireplace. The property is positioned on a corner lot and is described as well maintained.
The duplex is located at 5400 S 32nd Street in Lincoln, Nebraska, near Tierra Briarhurst Park. Its two-unit layout, separate attached garage access, and finished lower-level features support residential occupancy across both sides. The property is offered for sale.
The duplex is located at 5400 S 32nd Street in Lincoln, Nebraska, near Tierra Briarhurst Park. Its two-unit layout, separate attached garage access, and finished lower-level features support residential occupancy across both sides. The property is offered for sale.
Key Highlights
- Two‑unit duplex with more than 3,200 total square feet
- Built in 1994 on a corner lot
- Each unit has an attached garage and multiple bathrooms
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
$31,752
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
7.38%
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%
$635,040
$635.0K
Cap Rate 7%
$453,600
$453.6K
Cap Rate 9%
$352,800
$352.8K
Market Conditions
NOI Build-Up for 3,200 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
$48.0K $15.00/SF
− Vacancy
−$2.6K −$0.83/SF
EGI
$45.4K $14.17/SF
− OpEx
−$13.6K −$4.25/SF
NOI
$31.8K $9.92/SF
Area
Lincoln, NE
Vacancy
5.50%
Lease Rate
$15.00 /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%
$635,040
Cap Rate 7%
$453,600
Cap Rate 9%
$352,800
Alternative Uses
Best Use
Multifamily LT 5
$453.6K
$396.9K – $529.2K
NOI $31,752 @ 7.0% cap · market cap 7.38%
Second Best
Apartment 5plus
$421.3K
$368.7K – $491.6K
NOI $29,494 @ 7.0% cap · market cap 6.86%
Theoretical Best
Office A
$784.5K
$686.4K – $915.3K
NOI $54,915 @ 7.0% cap · market cap 12.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
447
Businesses Nearby
Explore this area
Business Placement
Demographics for 68516, NE
47,448
Population
19,549
Households
2.4
Avg Household Size
39
Median Age
55%
College-Educated
98%
High-School Grad
18.9 sq mi
ZIP Area
2,510
Density / Sq Mi
$100,093
Median Household Income
$52,344
Median Earnings
$1,213
Median Rent
$331,600
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 - Two residential units include attached garages, daylight lower levels, and gas fireplaces.
Where is this duplex located?
The property is located at 5400 S 32nd Street Lincoln, NE.
What is the asking price?
The asking price for this property is $430,000.
What are key features of this property?
This property features: Two‑unit duplex with more than 3,200 total square feet; Built in 1994 on a corner lot; Each unit has an attached garage and multiple bathrooms
