Two-Unit Duplex with Attached
For Sale
$530,000
5617 & 5619 Decatur Street, Omaha, NE 68104
Each residence provides two bedrooms, two bathrooms, attached garage access, and shared outdoor amenities.
Property Size2,470 SF
Price / SF$214.57
Days on Market22
Property Features for 5617 & 5619 Decatur Street
General Information
Standard status
Active
Size
2,470 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Parking per Unit
2
Amenities
fenced backyard
deck
Building Details
Year Built
1999
Listing Agency:
Nexthome Signature Real Estate
(402) 350-9494
Listed By:
Heidi Cline
(402) 350-9494
Source:
Tenaciousrealty
Added: Aug 8
Changed: Aug 28
Last Checked: Aug 29 at 9:00AM
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 1999, this duplex contains 2,470 square feet with two separate residences. Each side offers two bedrooms, two bathrooms, and an attached two-car garage, creating a consistent layout across both units. The property also includes a large fenced backyard and a deck for outdoor use.
The duplex is located at 5617 & 5619 Decatur Street in Omaha, Nebraska 68104, near shopping, restaurants, schools, hospitals, and other major amenities. Its two-unit configuration accommodates an owner-occupant arrangement or rental use, with each residence providing its own living space and garage access.
The duplex is located at 5617 & 5619 Decatur Street in Omaha, Nebraska 68104, near shopping, restaurants, schools, hospitals, and other major amenities. Its two-unit configuration accommodates an owner-occupant arrangement or rental use, with each residence providing its own living space and garage access.
Key Highlights
- Two‑unit duplex with 2,470 square feet
- Each side has 2 bedrooms and 2 bathrooms
- Attached 2‑car garage for each residence
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
$22,786
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
4.30%
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%
$455,720
$455.7K
Cap Rate 7%
$325,514
$325.5K
Cap Rate 9%
$253,178
$253.2K
Market Conditions
NOI Build-Up for 2,470 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
$34.1K $13.80/SF
− Vacancy
−$1.5K −$0.62/SF
EGI
$32.6K $13.18/SF
− OpEx
−$9.8K −$3.95/SF
NOI
$22.8K $9.23/SF
Area
ZIP 68104
Vacancy
4.50%
Lease Rate
$13.80 /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%
$455,720
Cap Rate 7%
$325,514
Cap Rate 9%
$253,178
Alternative Uses
Best Use
Multifamily LT 5
$325.5K
$284.8K – $379.8K
NOI $22,786 @ 7.0% cap · market cap 4.30%
Second Best
Apartment 5plus
$301.2K
$263.5K – $351.4K
NOI $21,083 @ 7.0% cap · market cap 3.98%
Theoretical Best
Office A
$861.7K
$754.0K – $1.01M
NOI $60,317 @ 7.0% cap · market cap 11.38%
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
202
Businesses Nearby
Explore this area
Business Placement
Demographics for 68104, NE
36,706
Population
16,330
Households
2.2
Avg Household Size
34
Median Age
31%
College-Educated
84%
High-School Grad
6.6 sq mi
ZIP Area
5,562
Density / Sq Mi
$57,488
Median Household Income
$38,703
Median Earnings
$1,049
Median Rent
$157,700
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 - Each residence provides two bedrooms, two bathrooms, attached garage access, and shared outdoor amenities.
Where is this duplex located?
The property is located at 5617 & 5619 Decatur Street Omaha, NE.
What is the asking price?
The asking price for this property is $530,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,470 square feet; Each side has 2 bedrooms and 2 bathrooms; Attached 2‑car garage for each residence
