Residential Income Property with
New
For Sale
$119,000
1940 4th Street, Sparks, NV 89431
Residential, Sparks, NV
Property Size940 SF
Lot Size3.51 Acres
Price / SF$126.60
Days on Market1
Property Features for 1940 4th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4
Bedrooms
2
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 2, Bathroom 1, Bedroom 1
Parking
1
Parking features
Garage
Window features
Double Pane Windows, Blinds
Interior features
Ceiling Fan(s)
Appliances
Dishwasher, Disposal, Electric Cooktop, Electric Range, Oven, Refrigerator
Lot features
Common Area, Landscaped, Level
View
Park
Elementary school
Greenbrae
Middle school
Dilworth
High school
Sparks
Directions
Pyramid Way, East onto Greenbrae, North onto 4th Street.
Standard status
Active
APN
02832101
Size
940 SF
Lot size
3.51 Acres
Taxes and HOA fees
Tax Annual Amount
27349
HOA Fee
$500 Monthly
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Wall Furnace, Natural Gas
Cooling system
Window Unit(s), Wall/Window Unit(s), Electric
Water source
Public
Amenities
landscaping
laundry facilities
Building Details
Year built
1960
Floors in Building
1
Flooring type
Carpet, Vinyl
Building materials
Brick
Roof type
Composition, Shingle
Listing Agency:
LPT Realty, LLC
(775) 544-1328
Listed By:
Garret Idle · License #S.63571
(775) 378-5778
Added: Sep 9
Last Checked: Sep 9 at 11:06PM
MLS# 260011648
Copyright © 2026 Northern Nevada Regional MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 940-square-foot upstairs cooperative unit includes two bedrooms, one bathroom, a kitchen with electric cooking appliances, a dishwasher, disposal, refrigerator, and an interior finished with carpet and vinyl flooring. Brick construction, a composition and shingle roof, natural-gas wall-furnace heating, window or wall/window-unit cooling, and a ceiling fan are among the property features. The residence was built in 1960 and includes garage parking.
The property occupies 3.51 acres at 1940 4th Street in Sparks, with public water and public sewer service. Bus routes are located on 4th Street, and shopping is nearby. The community is described as a 50+ cooperative complex with maintained landscaping. Association fees cover water, sewer, garbage, taxes, hazard insurance, laundry facilities, snow removal, and specified exterior and interior maintenance, including the furnace and water heater.
The sale requires approval by the cooperative association board of trustees and a background check. Transfer is through a stock certificate.
The property occupies 3.51 acres at 1940 4th Street in Sparks, with public water and public sewer service. Bus routes are located on 4th Street, and shopping is nearby. The community is described as a 50+ cooperative complex with maintained landscaping. Association fees cover water, sewer, garbage, taxes, hazard insurance, laundry facilities, snow removal, and specified exterior and interior maintenance, including the furnace and water heater.
The sale requires approval by the cooperative association board of trustees and a background check. Transfer is through a stock certificate.
Key Highlights
- 940‑square‑foot upstairs unit with 2 bedrooms and 1 bathroom
- 50+ cooperative complex on 3.51 acres
- Garage parking and brick construction
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$10,460
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.79%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$209,200
$209.2K
Cap Rate 7%
$149,429
$149.4K
Cap Rate 9%
$116,222
$116.2K
Market Conditions
NOI Build-Up for 940 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$19.9K $21.12/SF
− Vacancy
−$834 −$0.89/SF
EGI
$19.0K $20.23/SF
− OpEx
−$8.6K −$9.10/SF
NOI
$10.5K $11.13/SF
Area
Sparks, NV
Vacancy
4.20%
Lease Rate
$21.12 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$209,200
Cap Rate 7%
$149,429
Cap Rate 9%
$116,222
Alternative Uses
Best Use
Apartment 5plus
$149.4K
$130.8K – $174.3K
NOI $10,460 @ 7.0% cap · market cap 8.79%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$332.7K
$291.1K – $388.2K
NOI $23,291 @ 7.0% cap · market cap 19.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
588
Businesses Nearby
Explore this area
Business Placement
Demographics for 89431, NV
40,219
Population
16,858
Households
2.4
Avg Household Size
35
Median Age
14%
College-Educated
76%
High-School Grad
9.2 sq mi
ZIP Area
4,372
Density / Sq Mi
$64,496
Median Household Income
$39,589
Median Earnings
$1,276
Median Rent
$332,000
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Upstairs cooperative unit with two bedrooms, public utilities, and garage parking in a landscaped residential community.
Where is this residential income property located?
The property is located at 1940 4th Street Sparks, NV.
What is the asking price?
The asking price for this property is $119,000.
What are key features of this property?
This property features: 940‑square‑foot upstairs unit with 2 bedrooms and 1 bathroom; 50+ cooperative complex on 3.51 acres; Garage parking and brick construction
