Spaulding & 28th Avenue Duplexes

Property Overview

Two side-by-side Omaha duplexes offered as a package — 2817 Spaulding Street and 3813 N 28th Avenue. Four doors, 3,456 total square feet, both built in 1923. Hardwood floors, updated interiors, and the kind of construction quality that holds up. Available individually at $222,500 each, or together at $445,000.

Investment Highlights

The package pencils at a 9.3% cap rate with normalized NOI of $41,333 after taxes and insurance. DSCR of 1.51x. At $111,250 per door, this is below replacement cost and priced for yield, not appreciation hope. FHA financing is available on either duplex, making a house hack viable — effective net housing cost drops to approximately $617/month.

Financials

Package Price: $445,000 | Individual: $222,500 each | NOI (normalized): $41,333 | Cap Rate: 9.3% | Annual Debt Service: $27,312 | DSCR: 1.51x | GRM: 8.34x | Per Door: $111,250 | Per SF: $129 | Annual T&I (actuals): $6,265

Location

Located in North Midtown Omaha, minutes from downtown, Interstate 480, and major employment corridors. Stable rental demand driven by central location and limited workforce housing supply.