Remodeled Duplex with Basement
For Sale
Contact for pricing
6024/6026 S 42nd Street, Omaha, NE 68107
Updated two-unit property with private laundry, fenced outdoor space, and R-5 zoning allowing an ADU by right.
Property Size2,080 SF
Price / SF$168.27
Days on Market125
Property Features for 6024/6026 S 42nd Street
General Information
Standard status
Active
Size
2,080 SF
Total Parking Spaces
8
Property subtype
Multifamily
Zoning
R-5 (ADU by right)
Investment Type
Stabilized
Net Operating Income
$34,800
Additional Details
Asking Price
$350,000
Multifamily Units
2
Amenities
in-unit laundry
fenced backyard
Building Details
Year Built
1980
Buildings
1
Units
2
Tenancy
Multi
Listing Agency:
NP Dodge Real Estate
Listed By:
Tony Cliffords · License #NE 20181117
Source:
Crexi
Added: Apr 28
Changed: Aug 30
Last Checked: Aug 30 at 2:19AM
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 NP Dodge Real Estate
Investment Insights
Based on property information with market context.
This 1980-built duplex contains 2,080 square feet and has undergone interior and exterior updates. Improvements include new carpet, fresh paint, contemporary fixtures, updated hardware, and exterior paint. Each residence includes its own laundry area, while the property also offers a fenced backyard and ample parking.
The address is 6024/6026 S 42nd Street in Omaha, Nebraska. Unit 6024 includes 1,107 square feet of unfinished daylight basement area, providing additional space that may support a third unit or increased rental income, subject to applicable requirements. R-5 zoning permits an ADU by right, adding flexibility to the existing duplex configuration.
The address is 6024/6026 S 42nd Street in Omaha, Nebraska. Unit 6024 includes 1,107 square feet of unfinished daylight basement area, providing additional space that may support a third unit or increased rental income, subject to applicable requirements. R-5 zoning permits an ADU by right, adding flexibility to the existing duplex configuration.
Key Highlights
- 2,080‑square‑foot duplex built in 1980
- Unit 6024 includes 1,107 square feet of unfinished daylight basement space
- R‑5 zoning with an ADU permitted by right
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
$22,132
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
6.32%
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%
$442,640
$442.6K
Cap Rate 7%
$316,171
$316.2K
Cap Rate 9%
$245,911
$245.9K
Market Conditions
NOI Build-Up for 2,080 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
$33.7K $16.20/SF
− Vacancy
−$2.1K −$1.00/SF
EGI
$31.6K $15.20/SF
− OpEx
−$9.5K −$4.56/SF
NOI
$22.1K $10.64/SF
Area
ZIP 68107
Vacancy
6.17%
Lease Rate
$16.20 /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%
$442,640
Cap Rate 7%
$316,171
Cap Rate 9%
$245,911
Alternative Uses
Best Use
Multifamily LT 5
$316.2K
$276.7K – $368.9K
NOI $22,132 @ 7.0% cap · market cap 6.32%
Second Best
Apartment 5plus
$280.6K
$245.5K – $327.3K
NOI $19,639 @ 7.0% cap · market cap 5.61%
Theoretical Best
Office A
$542.9K
$475.0K – $633.4K
NOI $38,002 @ 7.0% cap · market cap 10.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
239
Businesses Nearby
Explore this area
Business Placement
Demographics for 68107, NE
31,064
Population
10,253
Households
3
Avg Household Size
29
Median Age
9%
College-Educated
64%
High-School Grad
6.6 sq mi
ZIP Area
4,707
Density / Sq Mi
$59,988
Median Household Income
$34,804
Median Earnings
$1,015
Median Rent
$142,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Updated two-unit property with private laundry, fenced outdoor space, and R-5 zoning allowing an ADU by right.
Where is this duplex located?
The property is located at 6024/6026 S 42nd Street Omaha, NE.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 2,080‑square‑foot duplex built in 1980; Unit 6024 includes 1,107 square feet of unfinished daylight basement space; R‑5 zoning with an ADU permitted by right
