For sale

$425,000

117 S 38th St, Omaha, NE 68131

5beds

2,485sqft

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Multi Family

Built in 1904

-- sqft lot

$418,500 Zestimate^®

$171/sqft

$-- HOA

What's special

Excellent Investment Opportunity in Midtown's Blackstone District! Don't miss this 4-unit multi-family property located in the heart of the highly desirable Blackstone neighborhood. Just steps from popular shops, restaurants, & entertainment, the property also benefits from the upcoming streetcar line to the South that will provide convenient access to Downtown. Current 2026 rental income includes units leased at $1,450, $1,080, and $960 per month, with the fourth unit currently vacant, offering immediate value-add potential and the opportunity to increase cash flow. All appliances are included with the sale. Whether you're looking to expand your portfolio or begin investing in a prime Midtown location, this property offers strong income potential and excellent long-term upside! Please Note: some listing photos were taken when the property was previously vacant and may not reflect current occupancy.

6 days

206

16

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Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 5
Bathrooms: 4
Full bathrooms: 2
Partial bathrooms: 2

Heating

Electric, Natural Gas, Heat Pump

Cooling

Central Air, Heat Pump

Appliances

Included: Dishwasher, Disposal, Dryer, Microwave, Range, Refrigerator, Washer

Features

Has basement: Yes
Has fireplace: No

Interior area

Total structure area: 2,485
Total interior livable area: 2,485 sqft

Property

Parking

Total spaces: 5
Parking features: Garage
Garage spaces: 2
Covered spaces: 5

Features

Patio & porch: Porch, Deck
Fencing: None

Lot

Size: 6,682 Square Feet
Dimensions: 40 x 167
Features: Up to 1/4 Acre., Alley

Details

Parcel number: 1423590000

Construction

Type & style

Home type: MultiFamily
Property subtype: Multi Family

Materials

Stucco
Foundation: Brick/Mortar
Roof: Composition

Condition

Not New and NOT a Model
New construction: No
Year built: 1904

Utilities & green energy

Sewer: Septic Tank
Water: Public

Community & HOA

Community

Subdivision: Jerome Park

HOA

Has HOA: No

Location

Region: Omaha

Financial & listing details

Price per square foot: $171/sqft
Tax assessed value: $196,200
Annual tax amount: $3,280
Date on market: 7/2/2026
Listing terms: Cash,Conventional
Ownership: Fee Simple
Total actual rent: 3490

Estimated market value

$418,500

$398,000 - $439,000

$1,420/mo

Price history

Date	Event	Price
7/2/2026	Listed for sale	$425,000$171/sqft
Source: GPRMLS #22618723 Report a problem
6/26/2026	Pending sale	$425,000$171/sqft
Source: GPRMLS #22616207 Report a problem
6/12/2026	Listed for sale	$425,000+136.1%$171/sqft
Source: GPRMLS #22616207 Report a problem
5/14/2024	Listing removed	--
Source: Zillow Rentals Report a problem
4/23/2024	Price change	$1,450-1.4%$1/sqft
Source: Zillow Rentals Report a problem
3/25/2024	Price change	$1,470-0.3%$1/sqft
Source: Zillow Rentals Report a problem
3/7/2024	Listed for rent	$1,475$1/sqft
Source: Zillow Rentals Report a problem
2/26/2024	Listing removed	--
Source: Zillow Rentals Report a problem
2/18/2024	Price change	$1,475-1.7%$1/sqft
Source: Zillow Rentals Report a problem
2/5/2024	Price change	$1,500-4.8%$1/sqft
Source: Zillow Rentals Report a problem
1/25/2024	Price change	$1,575-3.1%$1/sqft
Source: Zillow Rentals Report a problem
1/2/2024	Price change	$1,625-9.7%$1/sqft
Source: Zillow Rentals Report a problem
12/12/2023	Price change	$1,800+12.5%$1/sqft
Source: Zillow Rentals Report a problem
12/8/2023	Listed for rent	$1,600-8.6%$1/sqft
Source: Zillow Rentals Report a problem
11/27/2023	Listing removed	--
Source: Zillow Rentals Report a problem
11/16/2023	Price change	$1,750+2.9%$1/sqft
Source: Zillow Rentals Report a problem
10/20/2023	Listed for rent	$1,700$1/sqft
Source: Zillow Rentals Report a problem
10/20/2022	Sold	$180,000+12.5%$72/sqft
Source: GPRMLS #22223041 Report a problem
9/28/2022	Pending sale	$159,950$64/sqft
Source: GPRMLS #22223041 Report a problem
9/23/2022	Listed for sale	$159,950-3%$64/sqft
Source: GPRMLS #22223041 Report a problem
11/1/2008	Listing removed	$164,900$66/sqft
Source: Advanced Access #20811720 Report a problem
9/17/2008	Listed for sale	$164,900+184.3%$66/sqft
Source: Advanced Access #20811720 Report a problem
4/3/1996	Sold	$58,000$23/sqft
Source: Agent Provided Report a problem

Public tax history

Year	Property taxes	Tax assessment
2025	$3,281 +3.1%	$196,200
2024	$3,180 -22.1%	$196,200 +1.3%
2023	$4,085 -1.2%	$193,600
2022	$4,133 +27.4%	$193,600 +26.3%
2021	$3,245 -1.1%	$153,300
2020	$3,282 -6.9%	$153,300 -6.6%
2019	$3,526 +27.3%	$164,200 +27.5%
2018	$2,769 +0.2%	$128,800
2017	$2,764	$128,800
2016	$2,764 +1.4%	$128,800
2015	$2,727	$128,800
2014	--	$128,800
2013	--	$128,800 -10.4%
2012	--	$143,700
2011	--	$143,700 +59.1%
2005	--	$90,300
2004	--	$90,300

Find assessor info on the county website

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HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.

Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.

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