Updated Duplex with Off-Street
For Sale
$274,900
945 F St, Lincoln, NE 68508
Fully occupied two-unit property with refreshed interiors, practical layouts, and tenant parking outside the street.
Property Size2,590 SF
Price / SF$106.14
Days on Market12
Property Features for 945 F St
General Information
Standard status
Active
Size
2,590 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$1,588
Listing Agency:
Nebraska Realty
(402) 413-8000
Listed By:
Randall W. Ralston
(402) 560-5387
Source:
Exprealty
Added: Sep 3
Changed: Sep 11
Last Checked: Sep 13 at 11:26AM
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 Nebraska Realty
Investment Insights
Based on property information with market context.
This duplex contains 2,590 square feet arranged as two separate residences: one with 2 bedrooms and 1 bathroom, and another with 3 bedrooms and 1 bathroom. Both units have received updates to their kitchens, bathrooms, flooring, and paint, while air conditioning was added in 2024. The interiors provide functional living arrangements and ample common living areas for each household.
The property is fully rented, with tenants already in place. Off-street parking serves the residences, and furnishings connected to the existing rental arrangement may be available with an acceptable offer. Located at 945 F St in Lincoln, Nebraska, the asset offers an established two-unit configuration with current occupancy.
The property is fully rented, with tenants already in place. Off-street parking serves the residences, and furnishings connected to the existing rental arrangement may be available with an acceptable offer. Located at 945 F St in Lincoln, Nebraska, the asset offers an established two-unit configuration with current occupancy.
Key Highlights
- 2,590‑square‑foot duplex with two separate residential units
- Unit mix includes 2‑bed/1‑bath and 3‑bed/1‑bath residences
- Both units updated with improvements to kitchens, baths, flooring, and paint
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
$23,872
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
8.68%
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%
$477,440
$477.4K
Cap Rate 7%
$341,029
$341.0K
Cap Rate 9%
$265,244
$265.2K
Market Conditions
NOI Build-Up for 2,590 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
$45.7K $17.64/SF
− Vacancy
−$2.3K −$0.88/SF
EGI
$43.4K $16.76/SF
− OpEx
−$19.5K −$7.54/SF
NOI
$23.9K $9.22/SF
Area
Lincoln, NE
Vacancy
5.00%
Lease Rate
$17.64 /SF/Yr
Expense Ratio
45.00%
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%
$477,440
Cap Rate 7%
$341,029
Cap Rate 9%
$265,244
Alternative Uses
Best Use
Multifamily LT 5
$367.1K
$321.2K – $428.3K
NOI $25,699 @ 7.0% cap · market cap 9.35%
Second Best
Apartment 5plus
$341.0K
$298.4K – $397.9K
NOI $23,872 @ 7.0% cap · market cap 8.68%
Theoretical Best
Office A
$635.0K
$555.6K – $740.8K
NOI $44,447 @ 7.0% cap · market cap 16.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,616
Businesses Nearby
Explore this area
Business Placement
Demographics for 68508, NE
17,249
Population
7,076
Households
2.4
Avg Household Size
24
Median Age
35%
College-Educated
90%
High-School Grad
3.0 sq mi
ZIP Area
5,750
Density / Sq Mi
$33,561
Median Household Income
$10,349
Median Earnings
$760
Median Rent
$121,400
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
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Frequently Asked Questions
What type of property is this?
Duplex - Fully occupied two-unit property with refreshed interiors, practical layouts, and tenant parking outside the street.
Where is this duplex located?
The property is located at 945 F St Lincoln, NE.
What is the asking price?
The asking price for this property is $274,900.
What are key features of this property?
This property features: 2,590‑square‑foot duplex with two separate residential units; Unit mix includes 2‑bed/1‑bath and 3‑bed/1‑bath residences; Both units updated with improvements to kitchens, baths, flooring, and paint
