Remodeled Two-Unit
For Sale
$390,000
825-827 N 47th Street, Omaha, NE 68132
Two updated residences combine refreshed interiors with flexible owner-occupant or rental use.
Property Size1,872 SF
Days on Market111
Property Features for 825-827 N 47th Street
General Information
Standard status
Active
Size
1,872 SF
Total Parking Spaces
5
Property subtype
Multi Family Home
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$5,506
Building Details
Building Size
1,872 SF
Year Built
1925
Buildings
1
Stories
2
Units
2
Listing Agency:
BHHS Ambassador Real Estate
(402) 505-1078
Listed By:
William Barker · License #20160100
(402) 505-1078
Source:
Burrowstracts
Added: May 6
Changed: Aug 21
Last Checked: Aug 24 at 3:39PM
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 BHHS Ambassador Real Estate
Investment Insights
Based on property information with market context.
This two-story duplex contains two separate residences, each with two bedrooms and one bathroom. Both units have undergone remodeling that includes updated kitchens and baths, refreshed wood flooring, bright living areas, and practical layouts. The property retains classic character while incorporating contemporary interior finishes.
Built in 1925, the building is located in Omaha’s Dundee neighborhood at 825-827 N 47th Street. Shopping, dining, parks, nightlife, and interstate access are identified nearby. The configuration supports living in one residence while renting the other, or operating both units as residential income space.
Built in 1925, the building is located in Omaha’s Dundee neighborhood at 825-827 N 47th Street. Shopping, dining, parks, nightlife, and interstate access are identified nearby. The configuration supports living in one residence while renting the other, or operating both units as residential income space.
Key Highlights
- Two‑story duplex with 2 units
- Each unit includes 2 bedrooms and 1 bathroom
- Updated kitchens and bathrooms in both units
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 - Two updated residences combine refreshed interiors with flexible owner-occupant or rental use.
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‑story duplex with 2 units; Each unit includes 2 bedrooms and 1 bathroom; Updated kitchens and bathrooms in both units
