Remodeled Duplex with Two
For Sale
$390,000
825-827 N 47th Street, Omaha, NE 68132
RESIDENTIAL, 2 Story, Omaha, NE
Property Size1,872 SF
Lot Size0.17 Acres
Price / SF$208.33
Days on Market116
Property Features for 825-827 N 47th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 1, Bedroom 2, Dining Room, Bathroom 1, Bathroom 2, Bedroom 3, Basement
Parking features
Garage - Detached
Patio and Porch features
Porch, Deck
Interior features
Cable Available, Formal Dining Room, LL Daylight Windows
Exterior features
Deck/Balcony, Porch, Separate Entrance
Appliances
Dishwasher, Disposal, Range, Refrigerator
Subdivision
Kosters
Lot features
Alley, Curb Cut, In Subdivision, Level, Paved Road, Public Sidewalk
Elementary school
Dundee
Middle school
Lewis and Clark
High school
Central
Elementary school district
Omaha
Middle school district
Omaha
High school district
Omaha
Directions
47th & Cuming - South to property
Standard status
Active
APN
1514620000
Size
1,872 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Kosters Add Lot 4 Block 1
Tax Annual Amount
5506
Legal Description
Kosters Add Lot 4 Block 1
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1925
Floors in Building
2
Flooring type
Tile - Porcelian, Wood, Concrete
Roof type
Composition
Architectural style
Other
Listing Agency:
BHHS Ambassador Real Estate · Berkshire Hathaway HomeServices
(402) 493-4663
Listed By:
William Barker · License #20160100
(402) 505-1078
Added: May 6
Changed: Aug 27
Last Checked: Aug 29 at 5:06AM
MLS# 22612841
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.
This remodeled, two-story duplex contains 1,872 square feet with two residential units, each arranged with two bedrooms and one bathroom. Recent improvements include updated kitchens and baths, refreshed wood flooring, bright living areas, formal dining rooms, and separate entrances. Appliances include ranges, refrigerators, dishwashers, and disposals. Central air and forced-air heating serve the property, while decks and porches add exterior space.
Built in 1925 on a 0.17-acre lot, the property is located at 825-827 N 47th Street in Omaha’s Dundee neighborhood. The site includes a detached garage, composition roofing, cable availability, and lower-level daylight windows. The interior layout includes four bedrooms, two bathrooms, dining rooms, and basement space across the two units.
Built in 1925 on a 0.17-acre lot, the property is located at 825-827 N 47th Street in Omaha’s Dundee neighborhood. The site includes a detached garage, composition roofing, cable availability, and lower-level daylight windows. The interior layout includes four bedrooms, two bathrooms, dining rooms, and basement space across the two units.
Key Highlights
- Two‑unit, two‑story duplex with 1,872 square feet
- Each unit includes 2 bedrooms and 1 bathroom
- 0.17‑acre lot in Omaha’s Dundee neighborhood
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
$16,358
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
4.19%
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%
$327,160
$327.2K
Cap Rate 7%
$233,686
$233.7K
Cap Rate 9%
$181,756
$181.8K
Market Conditions
NOI Build-Up for 1,872 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
$25.2K $13.44/SF
− Vacancy
−$1.8K −$0.96/SF
EGI
$23.4K $12.48/SF
− OpEx
−$7.0K −$3.74/SF
NOI
$16.4K $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%
$327,160
Cap Rate 7%
$233,686
Cap Rate 9%
$181,756
Alternative Uses
Best Use
Multifamily LT 5
$233.7K
$204.5K – $272.6K
NOI $16,358 @ 7.0% cap · market cap 4.19%
Second Best
Apartment 5plus
$215.5K
$188.6K – $251.4K
NOI $15,086 @ 7.0% cap · market cap 3.87%
Theoretical Best
Office A
$492.5K
$431.0K – $574.6K
NOI $34,476 @ 7.0% cap · market cap 8.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,290
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 - Updated kitchens and baths, separate entrances, and a detached garage serve both residential units.
Where is this duplex located?
The property is located at 825-827 N 47th Street Omaha, NE.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: Two‑unit, two‑story duplex with 1,872 square feet; Each unit includes 2 bedrooms and 1 bathroom; 0.17‑acre lot in Omaha’s Dundee neighborhood
