Lincoln Homes under $400,000

Welcome to Lincoln, Nebraska, a vibrant city nestled in the heart of Lancaster County. Known for its friendly atmosphere and rich history, Lincoln is not only the state capital but also a thriving hub for families, students, and professionals alike. One of the standout features of this charming city is its exceptional school district, which is dedicated to fostering an environment of academic excellence and holistic development.

The Lincoln Public Schools district consistently ranks among the top in the state, offering a diverse array of educational programs that cater to students from all backgrounds. With a commitment to innovation and inclusivity, the district boasts a wide range of extracurricular activities, advanced placement courses, and support services designed to help every child reach their full potential. Parents can rest assured knowing that their children are receiving a quality education in a nurturing environment.

For those looking to make Lincoln their home, the real estate market offers an impressive selection of homes under $400,000. Whether you’re searching for a cozy starter home, a spacious family residence, or a charming bungalow, Lincoln has something for everyone. These homes not only provide affordability but also access to the city’s numerous parks, recreational facilities, and cultural attractions, making it an ideal place for families to settle down.

In Lincoln, you’ll find a community that values education, embraces diversity, and offers a high quality of life. Explore the opportunities that await you in this delightful city, where your dream home and a bright future for your family are just around the corner!

Newest Lincoln Homes under $400,000

$179,900

8 Beds ⋅ 5 Baths ⋅ 22628028 MLS

Well-maintained duplex with recent updates and flexible options for its next owner! The vacant main-floor unit offers 2 bedrooms and 1 bathroom, 1026 Sqft and rent at $900/ Month with new countertops, paint, fixtures, hardware, and additional improvements. Live in one unit while renting the other, or add the property to your investment portfolio. The tenant-occupied upper unit features 3 bedrooms and 2 bathrooms, 1026 Sqft and rented at $800/month providing rental income from day one.

3108 SW 6th Street, Lincoln

Listing courtesy of 1st Choice Realty Team.

$249,000

4 Beds ⋅ 2 Baths ⋅ 22626759 MLS

Turnkey duplex investment opportunity near UNL and downtown Lincoln! The entire building features two separate 2-bedroom, 1-bath units, each offering approximately 625 sq. ft. Completely remodeled in 2024, the property features a new roof, siding, plumbing, electrical, HVAC, flooring, cabinets, appliances, fixtures, and more. Both units are updated and move-in ready with low-maintenance finishes throughout. Conveniently located within walking distance of the University of Nebraska–Lincoln and downtown, with easy access to nearby shopping, dining, and amenities. A great opportunity to add a fully renovated duplex to your rental portfolio or live in one unit while renting out the other. More photos coming soon!

1115 S 14th Street, Lincoln

Listing courtesy of Coldwell Banker NHS R E.

$245,000

22626679 MLS

A unique opportunity for investors or owner-occupants! This well-maintained triplex was originally designed as a multi-family property rather than converted from a single-family home, offering a functional layout and plenty of versatility. Originally built as a duplex, the second unit was later divided to create three separate living spaces.The spacious primary unit spans over two stories and features three bedrooms and two bathrooms. The main level offers a comfortable living room, dining area, kitchen with laundry space, and access to unfinished attic storage.The second unit includes one bedroom, one bathroom, and a bonus room off the living area. The third unit also offers one bedroom and one bathroom, along with basement access and a private laundry area. With a newer roof and mechanical systems updated over the years, this property offers an excellent house-hacking or investment opportunity.

1441 B Street, Lincoln

Listing courtesy of Keller Williams Lincoln.

$274,900

5 Beds ⋅ 2 Baths ⋅ 22625444 MLS

This fully rented duplex currently generates $2,365/month in base rent, plus an additional $300/month in furniture rental income, for total current revenue of $2,665/month or $31,980 annually. The property offers 5 bedrooms and 2 baths across two units, including a 2-bed/1-bath and spacious 3-bed/1-bath. Both units have seen updates to kitchens, baths, flooring and paint, with A/C new in 2024. Functional layouts, generous living space and off-street parking add to the appeal. Furnishings associated with the additional rental income may be available with an acceptable offer, creating an opportunity for the next owner to continue the existing arrangement. Tenants are already in place, providing income from day one.

945 F Street, Lincoln

Listing courtesy of Nebraska Realty.

$199,800

2 Beds ⋅ 2 Baths ⋅ 22625441 MLS

Solid brick top and bottom duplex, alley access with lots of parking. One unit is vacant, ready for tenant or house hack, owner occupy opportunity. The upstairs unit is currently occupied on a m2m lease. Shared laundry for added convenience. Updated electrical panels for both units, and central air in both as well. Great opportunity for house hacking or adding to your rental portfolio.

2345 F Street, Lincoln

Listing courtesy of SimpliCity Real Estate.

$319,000

22625102 MLS

Opportunity awaits with this centrally located multi-family investment property near East Campus! Whether you're looking to expand your rental portfolio or step into investment ownership, this property offers income-producing potential in a convenient location close to the university, shopping, dining, and everyday amenities. Numerous major improvements have already been completed, including a new roof, soffit, fascia, and gutters in October 2025; two newer furnaces and a hot water heater within the last five years; a remodeled bathroom in 3201 Starr completed in 2024; and a new A/C unit installed in July 2026. Current rents: 3201 Starr $1,200.00, 3205 Starr $1,595.00, 3203 Starr $675.00 ONE stall Garage rental $150.00 With multiple units, significant recent updates, and a desirable central location near East Campus, this is a multi-family investment opportunity you won't want to miss!

3201 Starr Street, Lincoln

Listing courtesy of Pinnacle Realty Group.

$199,900

2 Beds ⋅ 2 Baths ⋅ 22624628 MLS

Brick duplex fully rented with long-term tenants that both would like to stay. Each unit has over 600 SF with 1 bed, 1 bath with laundry area in lower commons. Great investment property with central location in Lincoln. Alley access with tenants having off street parking in the rear of building, 2 spaces being paved, and duplex has nice green space for a back yard to relax and enjoy.

3510 A Street Unit 1 & 2, Lincoln

Listing courtesy of Nebraska Realty.

$278,000

4 Beds ⋅ 2 Baths ⋅ 22624352 MLS

PRICE DROP!! Rare East Campus investment opportunity! This turnkey, newly updated duplex offers an excellent opportunity for new and seasoned investors seeking immediate rental income and long-term potential. Both units are FULLY RENTED, providing established cash flow from day one. With recent updates and tenants already in place, this property is a great addition to any investment portfolio This duplex features 2- 2 bed 1 bath, 1.5 story units. Equipped with stackable washer and dryers in both, off-street parking, and updates inside and out! This duplex offers convenience, income, and value in one package. 24 Notice needed for showing due to being occupied by tenants.

924 N 35th Street, Lincoln

Listing courtesy of Concorde Real Estate Advisors.

$235,000

22623629 MLS

Centrally located 3-unit conversion offering updated mechanical and consistent income potential. This well-maintained property features modern systems, refreshed interiors, and a flexible layout ideal for mixed-use or multi-tenant occupancy. Positioned in a high-visibility corridor with convenient access to major routes, business districts, and public amenities, it delivers both stability and long-term upside. Strong infrastructure, clean mechanicals, and thoughtful updates make this an exceptional turnkey opportunity for investors seeking dependable performance in a prime location. Paint is peeled on the siding, but siding is aluminum. Excellent off-street parking. Additional room in basement could be additional storage income.

329 S 27th Street, Lincoln

Listing courtesy of Woods Bros Realty.

$249,900

22623382 MLS

Beautiful multi-unit conversion with strong income potential! Property features 2 units with opportunity to add a 3rd unit in the basement. Unit 1 (Main + Basement): 2 legal bedrooms + 1 non-conforming bedroom, 3 bathroom areas, and 2 kitchen spaces. Unit 2 (Upper Level): 3 rooms with abundant natural light. Home offers a newer roof, several updated windows, and a well-maintained yard. Interior features include original woodwork along with updated kitchen and bathroom finishes in Unit 1. Property is currently tenant occupied. Great opportunity for investors or owner-occupants seeking a versatile property with additional value-add potential.

1640 S 21st Street, Lincoln

Listing courtesy of 1st Choice Realty Team.

$374,900

22621203 MLS

Great up and running 5 Plex in College View! This is a top performing building currently bringing in over 3K a month in rent. New roof and garage in 2021 and siding in 2026 make this a turn key property to add to your portfolio! Each apartment is on separate meter and have their own air handler! Coin op laundry provides extra cash flow as well.

3502 S 51 Street, Lincoln

Listing courtesy of Red Door Realty.

$320,000

22612056 MLS

Unique investment opportunity with character and cash flow! This very cool conversion 6-plex offers a desirable unit mix of 1 studio, one 2 bedroom, 1 bathroom and four 1-bedroom, 1-bath apartments. Five units are currently leased, generating over $3,000 per month in rental income. The 6th unit in the basement just needs a remodel and it can be rented as well. Additional income potential with a 2-car garage that is separately rented, plus two off-street parking spaces. Tenants enjoy the charm and functionality of this distinctive building. A solid addition to any portfolio—schedule your tour today!

1928 E Street, Lincoln

Listing courtesy of Giving Realty.

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