Duplex

[Anthony Gayden]

I am looking at buying a Duplex here in Omaha to owner occupy. I really like the Dundee area, but I haven't done a lot of research on it to see if it is a viable place to look. I did a quick glance on realtor.com, but there is very little multifamily on the MLS for Omaha and almost nothing in the areas I am looking.

I'm not sure about a few things. Obviously for the area that is considered Dundee, what would the boundaries be in each direction? I have seen many duplexes in the area on 50th street going south, how much are these renting for? How much are these properties selling for? Is there potential for price/rental appreciation in this area? It seems like there would be as it is a very nice area and somewhat near UNO. 

I plan on staying in the property long term if I buy, so the purchase is as much about me as it is about maybe one day renting out both units. I am working with a bank to get an FHA loan right now and my limit is about $200,000, so I am not sure if I have enough money for this neighborhood. I really want to buy something below that cost then use a 203K loan to fix it up and make it very nice.