Four-Bedroom-Per-Side
New
For Sale
$573,900
6661 Grays Peak Court, Lincoln, NE 68521
RESIDENTIAL, 1.0 Story/Ranch, Lincoln, NE
Property Size2,250 SF
Lot Size0.29 Acres
Price / SF$255.07
Days on Market2
Property Features for 6661 Grays Peak Court
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
8
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 2, Laundry Room, Bathroom 5, Bathroom 6, Bedroom 6, Bedroom 3, Bathroom 3, Bedroom 1, Bathroom 4, Bedroom 4, Bedroom 5, Bedroom 2, Bedroom 7, Bedroom 8, Basement, Bathroom 1
Parking features
Garage - Attached
Patio and Porch features
Porch
Exterior features
Porch
Appliances
Dishwasher, Disposal, Dryer, Microwave, Range, Refrigerator, Washer
Subdivision
Stone Bridge
Lot features
In City
Elementary school
Kooser
Middle school
Schoo
High school
Lincoln North Star
Elementary school district
Lincoln Public Schools
Middle school district
Lincoln Public Schools
High school district
Lincoln Public Schools
Directions
Use GPS
Standard status
Active
APN
1236301012000
Size
2,250 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
Stone Bridge Creek 8th Addition, Block 1, Lot 12
Tax Annual Amount
6069
Legal Description
Stone Bridge Creek 8th Addition, Block 1, Lot 12
Utilities
Heating system
Forced Air
Cooling system
Central Air
Amenities
Open kitchen/dining area
Large living room
Family room
Laundry area
Building Details
Year built
2010
Floors in Building
1
Flooring type
Vinyl, Carpet
Roof type
Composition
Architectural style
Ranch
Listing Agency:
Nebraska Realty
(402) 413-8000
Listed By:
TJ Beck
(402) 802-6540
Added: Oct 2
Last Checked: Oct 3 at 2:06AM
MLS# 22628577
Copyright © 2026 Great Plains Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 2010, this ranch-style duplex contains 2,250 square feet on a 0.29-acre lot. Each side has two main-level bedrooms and two additional basement bedrooms, with three full bathrooms. The main floor includes an open kitchen and dining area alongside a living room; each basement adds a family room and laundry area. Both residences have an attached two-car garage and a porch.
Key Highlights
- Eight bedrooms and six full bathrooms across both residences
- Each side includes two main‑level bedrooms and two basement bedrooms
- Each residence has a basement family room and laundry area
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
$22,326
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
3.89%
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%
$446,520
$446.5K
Cap Rate 7%
$318,943
$318.9K
Cap Rate 9%
$248,067
$248.1K
Market Conditions
NOI Build-Up for 2,250 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
$33.8K $15.00/SF
− Vacancy
−$1.9K −$0.83/SF
EGI
$31.9K $14.17/SF
− OpEx
−$9.6K −$4.25/SF
NOI
$22.3K $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%
$446,520
Cap Rate 7%
$318,943
Cap Rate 9%
$248,067
Alternative Uses
Best Use
Multifamily LT 5
$318.9K
$279.1K – $372.1K
NOI $22,326 @ 7.0% cap · market cap 3.89%
Second Best
Apartment 5plus
$296.3K
$259.2K – $345.6K
NOI $20,738 @ 7.0% cap · market cap 3.61%
Theoretical Best
Office A
$551.6K
$482.7K – $643.5K
NOI $38,612 @ 7.0% cap · market cap 6.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
132
Businesses Nearby
Explore this area
Business Placement
Demographics for 68521, NE
37,251
Population
15,657
Households
2.4
Avg Household Size
31
Median Age
32%
College-Educated
88%
High-School Grad
13.2 sq mi
ZIP Area
2,822
Density / Sq Mi
$66,902
Median Household Income
$38,755
Median Earnings
$1,196
Median Rent
$235,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence has finished basement living space, laundry, and an attached two-car garage.
Where is this duplex located?
The property is located at 6661 Grays Peak Court Lincoln, NE.
What is the asking price?
The asking price for this property is $573,900.
What are key features of this property?
This property features: Eight bedrooms and six full bathrooms across both residences; Each side includes two main‑level bedrooms and two basement bedrooms; Each residence has a basement family room and laundry area
