Duplex with Detached
New
For Sale
$259,900
923 S 24th Street, Lincoln, NE 68526
RESIDENTIAL, 1.5 Story, Lincoln, NE
Property Size1,662 SF
Lot Size0.10 Acres
Price / SF$156.38
Days on Market2
Property Features for 923 S 24th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
3
Rooms
Bathroom 3, Bedroom 2, Bathroom 2, Bedroom 1, Laundry Room, Basement, Bathroom 1, Bedroom 3
Parking features
Garage - Detached
Patio and Porch features
Patio
Exterior features
Patio, Extra Parking Slab
Subdivision
Near South - Low
Elementary school
Elliott
Middle school
Lefler
High school
Lincoln High
Elementary school district
Lincoln Public Schools
Middle school district
Lincoln Public Schools
High school district
Lincoln Public Schools
Directions
Please see GPS services for directions to property.
Standard status
Active
APN
10-25-441-009-000
Size
1,662 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
HOUTZ PLACE, BLOCK 4, Lot 17
Tax Annual Amount
2434
Legal Description
HOUTZ PLACE, BLOCK 4, Lot 17
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1909
Floors in Building
2
Architectural style
Other
Listing Agency:
BancWise Realty
(402) 323-6777
Listed By:
Greg Larsen
(402) 416-8464
Added: Oct 26
Last Checked: Oct 27 at 4:06PM
MLS# 22630705
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.
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Investment Insights
Based on property information with market context.
This converted duplex contains an upper residence with three bedrooms and two bathrooms, plus a basement apartment with one nonconforming bedroom and one bathroom. The upper level includes hardwood floors, newer windows, a main-floor bedroom, dining area, kitchen, and two three-quarter bathrooms. In the basement, a full kitchen, living room with an egress window, newer flooring, and a three-quarter bathroom with a new shower serve the apartment. The building measures 1,662 square feet on a 0.1-acre lot and was built in 1909.
A detached one-stall garage, alley access, a patio, and separate off-street parking for each residence are among the site features. The roof was replaced in 2022. Forced-air heating and central air conditioning are installed.
A detached one-stall garage, alley access, a patio, and separate off-street parking for each residence are among the site features. The roof was replaced in 2022. Forced-air heating and central air conditioning are installed.
Key Highlights
- Two residences: upper unit has 3 bedrooms and 2 bathrooms; basement unit has 1 nonconforming bedroom and 1 bathroom
- 1,662‑square‑foot building on a 0.1‑acre lot
- Detached 1‑stall garage, alley access, and separate off‑street parking for both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,491
Cap Rate
6.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$329,820
$329.8K
Cap Rate 7%
$235,586
$235.6K
Cap Rate 9%
$183,233
$183.2K
Market Conditions
NOI Build-Up for 1,662 SF
Gross rent
$24.9K $15.00/SF
− Vacancy
−$1.4K −$0.83/SF
EGI
$23.6K $14.17/SF
− OpEx
−$7.1K −$4.25/SF
NOI
$16.5K $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%
$329,820
Cap Rate 7%
$235,586
Cap Rate 9%
$183,233
Alternative Uses
Best Use
Multifamily LT 5
$235.6K
$206.1K – $274.9K
NOI $16,491 @ 7.0% cap · market cap 6.35%
Second Best
Apartment 5plus
$218.8K
$191.5K – $255.3K
NOI $15,318 @ 7.0% cap · market cap 5.89%
Theoretical Best
Office A
$407.5K
$356.5K – $475.4K
NOI $28,522 @ 7.0% cap · market cap 10.97%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
693
Businesses Nearby
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Business Placement
Demographics for 68526, NE
7,788
Population
3,041
Households
2.6
Avg Household Size
40
Median Age
63%
College-Educated
97%
High-School Grad
12.1 sq mi
ZIP Area
644
Density / Sq Mi
$117,447
Median Household Income
$58,514
Median Earnings
$1,288
Median Rent
$424,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences are served by individual off-street parking areas and alley access.
Where is this duplex located?
The property is located at 923 S 24th Street Lincoln, NE.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: Two residences: upper unit has 3 bedrooms and 2 bathrooms; basement unit has 1 nonconforming bedroom and 1 bathroom; 1,662‑square‑foot building on a 0.1‑acre lot; Detached 1‑stall garage, alley access, and separate off‑street parking for both units
