Two-Unit Duplex with Shared
For Sale
$212,500
853-855 S 45th St, Lincoln, NE 68510
Multi-Unit, Lincoln, NE
Property Size1,250 SF
Lot Size0.15 Acres
Price / SF$170
Days on Market47
Property Features for 853-855 S 45th St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R
Bedrooms
2
Bathrooms
2
Full bathrooms
1
Rooms
Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 2
Lot features
Landscaping, Trees
Directions
See google
Subdivision
Surrounding Areas/Other Areas
Standard status
Active
APN
17-29-304-021-000
Size
1,250 SF
Lot size
0.15 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Year
2025
Tax Description
TURNERS RANDOLPH ADDITION, BLOCK 2, LOT 9
Tax Annual Amount
2429
Legal Description
TURNERS RANDOLPH ADDITION, BLOCK 2, LOT 9
Utilities
Heating system
Forced Air
Cooling system
Window Unit(s), Central Air
Amenities
on-site laundry
central air
Building Details
Year built
1960
Number of units
2
Buildings
1
Listing Agency:
Haus of Home
Listed By:
Kathie Pfaffle
(712) 251-4632
Added: Sep 21
Changed: Nov 4
Last Checked: Nov 6 at 9:06AM
MLS# 834711
Copyright © 2026 Northwest Iowa Regional Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Built in 1960, this two-unit duplex contains 1,250 square feet on a 0.15-acre lot and is zoned R. Both units are occupied: the upper residence is leased through March 2027, while the lower is rented month to month to a long-term tenant. Central air serves the upper unit; the lower unit has window-unit cooling. Forced-air heating is provided, and the HVAC has annual service. The property also has updated electrical panels and shared coin-operated laundry, including a machine installed one year ago.
The lower residence has garage-use rights, while parking for the upper residence is on a gravel area in front of the building. The property is located in Lincoln, Nebraska.
The lower residence has garage-use rights, while parking for the upper residence is on a gravel area in front of the building. The property is located in Lincoln, Nebraska.
Key Highlights
- Two‑unit duplex with 1,250 square feet on a 0.15‑acre lot
- Both residences are occupied; upper lease runs through March 2027 and lower unit is month to month
- Shared coin‑operated laundry, including one machine installed 1 year ago
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,403
Cap Rate
5.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$248,060
$248.1K
Cap Rate 7%
$177,186
$177.2K
Cap Rate 9%
$137,811
$137.8K
Market Conditions
NOI Build-Up for 1,250 SF
Gross rent
$18.8K $15.00/SF
− Vacancy
−$1.0K −$0.83/SF
EGI
$17.7K $14.17/SF
− OpEx
−$5.3K −$4.25/SF
NOI
$12.4K $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 Rate 5%
$248,060
Cap Rate 7%
$177,186
Cap Rate 9%
$137,811
Alternative Uses
Best Use
Multifamily LT 5
$177.2K
$155.0K – $206.7K
NOI $12,403 @ 7.0% cap · market cap 5.84%
Second Best
Apartment 5plus
$164.6K
$144.0K – $192.0K
NOI $11,521 @ 7.0% cap · market cap 5.42%
Theoretical Best
Office A
$306.4K
$268.1K – $357.5K
NOI $21,451 @ 7.0% cap · market cap 10.09%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
757
Businesses Nearby
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Business Placement
Demographics for 68510, NE
20,669
Population
9,871
Households
2.1
Avg Household Size
38
Median Age
40%
College-Educated
95%
High-School Grad
4.6 sq mi
ZIP Area
4,493
Density / Sq Mi
$64,183
Median Household Income
$41,632
Median Earnings
$857
Median Rent
$221,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are occupied, with separate lease arrangements and shared coin-operated laundry on site.
Where is this duplex located?
The property is located at 853-855 S 45th St Lincoln, NE.
What is the asking price?
The asking price for this property is $212,500.
What are key features of this property?
This property features: Two‑unit duplex with 1,250 square feet on a 0.15‑acre lot; Both residences are occupied; upper lease runs through March 2027 and lower unit is month to month; Shared coin‑operated laundry, including one machine installed 1 year ago
