Lincoln Homes under $500,000

Welcome to Lincoln, Nebraska – a vibrant city that perfectly blends a rich educational landscape with charming residential neighborhoods. As the capital of Nebraska and home to the esteemed University of Nebraska-Lincoln, this city is not only known for its academic excellence but also for its family-friendly atmosphere and community spirit.

The Lincoln School District is renowned for its commitment to providing quality education, offering a wide range of programs that cater to diverse learning needs. With a strong emphasis on academic achievement, the district boasts several nationally recognized schools, dedicated educators, and numerous extracurricular activities that foster both personal and academic growth. Families in Lincoln appreciate the district’s focus on innovation and inclusivity, making it an ideal environment for children to thrive.

For those looking to settle in this charming city, Lincoln offers an impressive selection of homes under $500,000. Whether you’re seeking a cozy bungalow, a spacious family home, or a modern townhouse, you’ll find a variety of options that suit your lifestyle and budget. The neighborhoods are not only picturesque but also conveniently located near parks, shopping centers, and community amenities, ensuring that everything you need is just a stone’s throw away.

In Lincoln, you can enjoy the perfect balance of quality living, excellent education, and a strong sense of community. Discover your dream home in this dynamic city, where opportunities for growth and happiness await you and your family!

Newest Lincoln Homes under $500,000

$495,000

22628471 MLS

Incredible opportunity to own an investment property near East Campus and Nebraska Wesleyan. Currently fully rented with a history of consistent cash flow. This multi-family conversion property built at the turn of the last century has four units consisting of a 3 Bed-2 Bath, a 3 Bed-1 Bath, a 2 Bed-1 Bath, and a 1 Bed-1 Bath. Units are metered separately for electricity. No gas utilities. Alley access with on-site parking for tenants makes the property that much more attractive. Owner has done $40,000+ in upgrades over the last year.

4529 Holdrege Street, Lincoln

Listing courtesy of NP Dodge RE Sales Inc Lincoln.

$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.

$425,000

22625994 MLS

Investment or house hack opportunity! Low maintenance duplex located in Capitol Beach. Offering three bedrooms, two bathrooms and a two stall garage on each side. Move in ready and bringing in income with one side rented to a long term tenant. Spacious bedrooms and living spaces that work for everyday functionality! Zero entry and everything is on the main level.

526 Lamont Drive, Lincoln

Listing courtesy of Magnolia Real Estate.

$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.

$499,000

22625280 MLS

Instant Income Producing Tri-plex For Sale. This turn-key property offers outstanding flexibility and value! This is a great opportunity to own a completely renovated, long-term reliable investment property. Major improvements include new electrical, plumbing, and sewer lines, along with rebuilt decks and exterior staircases and each unit is separately metered. Inside, you’ll find quartz countertops, beautifully restored hardwood floors, and new LVT flooring throughout, creating a clean and contemporary feel across all units. Energy-efficient heat pumps have also been added for year-round comfort. The property features two garage spaces along with newly poured parking pads to accommodate additional vehicles. An added convenience for tenants. Duplicate Residential Listing #22625279

3210 S 48th Street, Lincoln

Listing courtesy of Concorde Real Estate Advisors.

$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.

$500,000

22624230 MLS

House hackers welcome! One unit is vacant and move in ready!! Investment opportunity in Lincoln! This brick fourplex features four residential units, each offering a 2-bedroom, 1-bathroom layout and a fireplace. The property was built in 1979 and provides approximately 3,430 square feet of total building area, with unit sizes approximately 883 square feet. The property features brick construction, off-street parking, established lawn areas, exterior access to the individual units, and balcony/patio areas. The four-unit configuration and practical 2-bedroom layouts provide flexibility for an investor seeking a multifamily property in Lincoln. Total of 8 Bedrooms and 4 bathrooms.

4210 Huntington Avenue, Lincoln

Listing courtesy of Nebraska Lifestyles, LLC.

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