Occupied Duplex with Unfinished
For Sale
$295,000
5837-5839 Lafayette Avenue, Omaha, NE 68132
Two-unit residential property with separate living areas, established tenancy, and unfinished lower-level space for future improvements.
Property Size1,980 SF
Price / SF$148.99
Days on Market21
Property Features for 5837-5839 Lafayette Avenue
General Information
Standard status
Active
Size
1,980 SF
Property subtype
Multi-Family
Occupancy
100%
Building Details
Year Built
1950
Listing Agency:
Nexthome Signature Real Estate
(402) 350-9494
Listed By:
Heidi Cline
(402) 350-9494
Source:
Tenaciousrealty
Added: Aug 10
Changed: Aug 28
Last Checked: Aug 29 at 9:01AM
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.
Located at 5837-5839 Lafayette Avenue in Omaha, this duplex was built in 1950 and contains two separate residential units. The unit mix includes one 3 Bed / 1 Bath residence and one 2 Bed / 1 Bath residence, with distinct living spaces for each household. Both units are currently occupied by long-term tenants, providing established rental occupancy at closing.
Each unit includes a full unfinished basement, creating additional interior space for storage or future renovation work. The property is situated near the Dundee and Fairacres areas. Showings require 24-hour notice, and the property may be acquired individually or as part of a package.
Each unit includes a full unfinished basement, creating additional interior space for storage or future renovation work. The property is situated near the Dundee and Fairacres areas. Showings require 24-hour notice, and the property may be acquired individually or as part of a package.
Key Highlights
- Two‑unit duplex with 3 Bed / 1 Bath and 2 Bed / 1 Bath residences
- Both units are fully occupied by long‑term tenants
- Full unfinished basement included with each unit
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
$17,302
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
5.87%
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%
$346,040
$346.0K
Cap Rate 7%
$247,171
$247.2K
Cap Rate 9%
$192,244
$192.2K
Market Conditions
NOI Build-Up for 1,980 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
$26.6K $13.44/SF
− Vacancy
−$1.9K −$0.96/SF
EGI
$24.7K $12.48/SF
− OpEx
−$7.4K −$3.74/SF
NOI
$17.3K $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%
$346,040
Cap Rate 7%
$247,171
Cap Rate 9%
$192,244
Alternative Uses
Best Use
Multifamily LT 5
$247.2K
$216.3K – $288.4K
NOI $17,302 @ 7.0% cap · market cap 5.87%
Second Best
Apartment 5plus
$227.9K
$199.5K – $265.9K
NOI $15,956 @ 7.0% cap · market cap 5.41%
Theoretical Best
Office A
$520.9K
$455.8K – $607.8K
NOI $36,465 @ 7.0% cap · market cap 12.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
147
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 - Two-unit residential property with separate living areas, established tenancy, and unfinished lower-level space for future improvements.
Where is this duplex located?
The property is located at 5837-5839 Lafayette Avenue Omaha, NE.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Two‑unit duplex with 3 Bed / 1 Bath and 2 Bed / 1 Bath residences; Both units are fully occupied by long‑term tenants; Full unfinished basement included with each unit
